0001564590-21-009746 | 10-K | XBRL Viewer

Organization

1. Organization

The Company is a global professional services firm that drives digitally-led innovation and runs digitally-enabled intelligent operations for its customers, guided by its experience over time running thousands of processes for hundreds of Fortune Global 500 companies. The Company has approximately 96,500 employees serving customers in key industry verticals from more than 30 countries.

Prior to the fourth quarter of 2019, the Company had one reportable segment. To align with how the Company’s Chief Operating Decision Maker, or CODM, manages its business, including resource allocation and performance assessment, the Company realigned its business segments into the following three reportable segments: Banking, Capital Markets and Insurance, or BCMI, Consumer Goods, Retail, Life Sciences and Healthcare, or CGRLH, and High Tech, Manufacturing and Services, or HMS.

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2020

Summary of significant accounting policies

2. Summary of significant accounting policies

(a) Basis of preparation and principles of consolidation

The accompanying consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) and the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting on Form 10-K. The accompanying consolidated financial statements reflect all adjustments that management considers necessary for a fair presentation of the results of operations for these periods.

The accompanying financial statements have been prepared on a consolidated basis and reflect the financial statements of Genpact Limited, a Bermuda company, and all of its subsidiaries that are more than 50% owned and controlled. When the Company does not have a controlling interest in an entity but exerts significant influence over the entity, the Company applies the equity method of accounting. All intercompany transactions and balances are eliminated on consolidation.

Non-controlling interest in subsidiaries outside of the Company’s control that is redeemable for cash or other assets is reflected in the mezzanine section between liabilities and equity in the consolidated balance sheets at the redeemable value, which approximates fair value. Redeemable non-controlling interest is adjusted to its fair value at each balance sheet date. Any resulting increases or decreases in the estimated redemption amount are affected by corresponding charges to additional paid-in capital. The share of non-controlling interest in subsidiary earnings is reflected in net loss (income) attributable to redeemable non-controlling interest in the consolidated statements of income.

(b) Use of estimates

The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant items subject to such estimates and assumptions include the useful lives of property, plant and equipment, intangible assets and goodwill, revenue recognition, allowance for credit losses, valuation allowances for deferred tax assets, the valuation of derivative financial instruments, the measurement of lease liabilities and right-of-use (“ROU”) assets, measurements of stock-based compensation, assets and obligations related to employee benefits, the nature and timing of the satisfaction of performance obligations, the standalone selling price of performance obligations, variable consideration, other obligations for revenue recognition, income tax uncertainties and other contingencies. Management believes that the estimates used in the preparation of the consolidated financial statements are reasonable, and management has made assumptions about the possible effects of the novel coronavirus (“COVID-19”) pandemic on critical and significant accounting estimates. Although these estimates and assumptions are based upon management’s best knowledge of current events and actions, actual results could differ from these estimates. Any changes in estimates are adjusted prospectively in the Company’s consolidated financial statements.

2. Summary of significant accounting policies (Continued)

The Company accounts for its business combinations using the acquisition method of accounting in accordance with Accounting Standard Codification (“ASC”) Topic 805, Business Combinations, by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any non-controlling interest in the acquired business, measured at their acquisition date fair values. Contingent consideration is included within the acquisition cost and is recognized at its fair value on the acquisition date. A liability resulting from contingent consideration is re-measured to fair value as of each reporting date until the contingency is resolved. Changes in fair value are recognized in earnings. All assets and liabilities of the acquired businesses, including goodwill, are assigned to reporting units. Acquisition-related costs are expensed as incurred under selling, general and administrative expenses.

Goodwill represents the cost of acquired businesses in excess of the fair value of identifiable tangible and intangible net assets purchased. Goodwill is not amortized but is tested for impairment at least on an annual basis on December 31, based on a number of factors, including operating results, business plans and future cash flows. The Company performs an assessment of qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the assessment of events or circumstances, the Company performs a quantitative assessment of goodwill impairment if it determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, based on the quantitative impairment analysis, the carrying value of the goodwill of a reporting unit exceeds the fair value of such goodwill, an impairment loss is recognized in an amount equal to the excess. In addition, the Company performs a qualitative assessment of goodwill impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. See Note 10 for information and related disclosures.

Intangible assets acquired individually or with a group of other assets or in a business combination or developed internally are carried at cost less accumulated amortization and accumulated impairment loss based on their estimated useful lives as follows:

Customer-related intangible assets		1-11 years
Marketing-related intangible assets		1-10 years
Technology-related intangible assets		2-8 years

Intangible assets are amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized.

In business combinations where the fair value of identifiable tangible and intangible net assets purchased exceeds the cost of the acquired business, the Company recognizes the resulting gain under “Other operating (income) expense, net” in the consolidated statements of income.

The Company also capitalizes certain software and technology-related development costs incurred in connection with developing or obtaining software or technology for sale/lease to customers when the initial design phase is completed and commercial and technological feasibility has been established. Any development cost incurred before technological feasibility is established is expensed as incurred as research and development costs. Technological feasibility is established upon completion of a detailed design program or, in its absence, completion of a working model. Capitalized software and technology costs include only (i) external direct costs of materials and services utilized in developing or obtaining software and technology and (ii) compensation and related benefits for employees who are directly associated with the project.

Costs incurred in connection with developing or obtaining software or technology for sale/lease to customers which are under development and not put to use are disclosed under “intangible assets under development.” Advances paid towards the acquisition of intangible assets outstanding as of each balance sheet date are disclosed under “intangible assets under development.”

Capitalized software and technology costs are included in intangible assets under technology-related intangible assets on the Company’s balance sheet and are amortized on a straight-line basis when placed into service over the estimated useful lives of the software and technology.

2. Summary of significant accounting policies (Continued)

The Company evaluates the remaining useful life of intangible assets that are being amortized at each reporting period wherever events and circumstances warrant a revision to the remaining period of amortization, and the remaining carrying amount of the intangible asset is amortized prospectively over that revised remaining useful life.

(d) Financial instruments and concentration of credit risk

Financial instruments that potentially subject the Company to concentration of credit risk are reflected principally in cash and cash equivalents, derivative financial instruments and accounts receivable. The Company places its cash and cash equivalents and derivative financial instruments with corporations and banks with high investment grade ratings, limits the amount of credit exposure with any one corporation or bank and conducts ongoing evaluations of the creditworthiness of the corporations and banks with which it does business. To reduce its credit risk on accounts receivable, the Company conducts ongoing credit evaluations of its customers. The General Electric Company (“GE”) accounted for 17% and 16% of the Company’s receivables as of December 31, 2019 and 2020, respectively. GE accounted for 9%, 14% and 12% of the Company’s revenues in the years ended December 31, 2018, 2019 and 2020, respectively.

(e) Accounts receivable

Accounts receivable are recorded at the invoiced or to be invoiced amount and do not bear interest. Amounts collected on trade accounts receivable are included in net cash provided by operating activities in the consolidated statements of cash flows. The Company maintains an allowance for current expected credit losses inherent in its accounts receivable portfolio. In establishing the required allowance, management considers historical losses which are adjusted to current market conditions and a reasonable and supportable forecast. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. The Company does not have any off-balance-sheet credit exposure related to its customers.

(f) Revenue Recognition

The Company derives its revenue primarily from business process management services, including analytics, consulting and related digital solutions and information technology services, which are provided primarily on a time-and-material, transaction or fixed-price basis. The Company recognizes revenue upon the transfer of control of promised services to its customers in an amount that reflects the consideration the Company expects to receive in exchange for those services. Revenues from services rendered under time-and-materials and transaction-based contracts are recognized as the services are provided. The Company’s fixed-price contracts include contracts for customization of applications, maintenance and support services. Revenues from these contracts are recognized ratably over the term of the agreement. The Company accrues for revenue and unbilled receivables for services rendered between the last billing date and the balance sheet date.

The Company’s contracts with its customers also include incentive payments received for discrete benefits delivered or promised to be delivered to the customer or service level agreements that could result in credits or refunds to the customer. Revenues relating to such arrangements are accounted for as variable consideration when the amount of revenue to be recognized can be estimated to the extent that it is probable that a significant reversal of any incremental revenue will not occur.

The Company records deferred revenue attributable to certain process transition activities where such activities do not represent separate performance obligations. Revenues relating to such transition activities are classified under contract liabilities and subsequently recognized ratably over the period in which the related services are performed. Costs relating to such transition activities are fulfillment costs which are directly related to the contract and result in the generation or enhancement of resources. Such costs are expected to be recoverable under the contract and are therefore classified as contract cost assets and recognized ratably over the estimated expected period of benefit under cost of revenue.

Revenues are reported net of value-added tax, business tax and applicable discounts and allowances. Reimbursements of out-of-pocket expenses received from customers have been included as part of revenues.

2. Summary of significant accounting policies (Continued)

Revenue for performance obligations that are satisfied over time is recognized in accordance with the methods prescribed for measuring progress. The input (cost expended) method has been used to measure progress towards completion as there is a direct relationship between input and the satisfaction of a performance obligation. Provisions for estimated losses, if any, on uncompleted contracts are recorded in the period in which such losses become probable based on the current contract estimates.

The Company enters into multiple-element revenue arrangements in which a customer may purchase a combination of products or services. The Company determines whether each product or service promised to a customer is capable of being distinct, and is distinct in the context of the contract. If not, the promised products or services are combined and accounted for as a single performance obligation. In the event of a multiple-element revenue arrangement, the Company allocates the arrangement consideration to separately identifiable performance obligations based on their relative stand-alone selling prices.

Certain contracts may include offerings such as sale of licenses, which may be perpetual or subscription-based. Revenue from distinct perpetual licenses is recognized upfront at the point in time when the software is made available to the customer. Revenue from distinct, non-cancellable, subscription-based licenses is recognized at the point in time when the license is transferred to the customer. Revenue from any associated maintenance or ongoing support services is recognized ratably over the term of the contract. For a combined software license/services performance obligation, revenue is recognized over the period that the services are performed.

All incremental and direct costs incurred for acquiring contracts, such as certain sales commissions, are classified as contract cost assets. Such costs are amortized over the expected period of benefit and recorded under selling, general and administrative expenses.

Other upfront fees paid to customers are classified as contract assets. Such fees are amortized over the expected period of benefit and recorded as an adjustment to the transaction price and deducted from revenue.

Timing of revenue recognition may differ from the timing of invoicing. If a payment is received in respect of services prior to the delivery of services, the payment is recognized as an advance from the customer and classified as a contract liability. Contract assets and contract liabilities relating to the same customer contract are offset against each other and presented on a net basis in the consolidated financial statements.

Significant judgements

The Company often enters into contracts with its customers that include promises to transfer multiple products and services to the customer. Determining whether products and services are considered distinct performance obligations that should be accounted for separately rather than together may require significant judgement.

Judgement is also required to determine the standalone selling price for each distinct performance obligation. In instances where the standalone selling price is not directly observable, it is determined using information that may include market conditions and other observable inputs.

Customer contracts sometimes include incentive payments received for discrete benefits delivered to the customer or service level agreements that could result in credits or refunds to the customer. Such amounts are estimated at contract inception and are adjusted at the end of each reporting period as additional information becomes available only to the extent that it is probable that a significant reversal of any incremental revenue will not occur.

(g) Leases (effective January 1, 2019)

At the inception of a contract, the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on whether: (1) the contract involves the use of a distinct identified asset, (2) the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the term of the contract, and (3) the Company has the right to direct the use of the asset. At the inception of a lease, the consideration in the contract is allocated to each lease component based on its relative standalone price to determine the lease payments. Leases entered into prior to January 1, 2019 have been accounted for under ASC Topic 840, Lease Classification, and were not reassessed on adoption of ASC Topic 842, Leases, on January 1, 2019.

2. Summary of significant accounting policies (Continued)

Leases are classified as either finance leases or operating leases. A lease is classified as a finance lease if any one of the following criteria are met: (1) the lease transfers ownership of the asset by the end of the lease term, (2) the lease contains an option to purchase the asset that is reasonably certain to be exercised, (3) the lease term is for a major part of the remaining useful life of the asset or (4) the present value of the lease payments equals or exceeds substantially all of the fair value of the asset. A lease is classified as an operating lease if it does not meet any one of the above criteria.

For all leases at the lease commencement date, a right-of-use (ROU) asset and a lease liability are recognized. The lease liability represents the present value of the lease payments under the lease. Lease liabilities are initially measured at the present value of the lease payments not yet paid, discounted using the discount rate for the lease at the lease commencement. The lease liabilities are subsequently measured on an amortized cost basis. The lease liability is adjusted to reflect interest on the liability and the lease payments made during the period. Interest on the lease liability is determined as the amount that results in a constant periodic discount rate on the remaining balance of the liability.

The ROU asset represents the right to use the leased asset for the lease term. The ROU asset for each lease initially includes the amount of the initial measurement of the lease liability adjusted for any lease payments made to the lessor at or before the commencement date, accrued lease liabilities and any lease incentives received or any initial direct costs incurred by the Company.

The ROU asset of finance leases is subsequently measured at cost, less accumulated amortization. The ROU asset of operating leases is subsequently measured from the carrying amount of the lease liability at the end of each reporting period, and is equal to the carrying amount of lease liabilities adjusted for (1) unamortized initial direct costs, (2) prepaid/(accrued) lease payments and (3) the unamortized balance of lease incentives received.

The carrying value of ROU assets is reviewed for impairment, similar to long-lived assets, whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable.

The Company has elected to not separate lease and non-lease components for all of its leases and to use the recognition exemptions for lease contracts that, at commencement date, have a lease term of 12 months or less and do not contain a purchase option (“short-term leases”).

Significant judgements

The Company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised.

Under certain of its leases, the Company has a renewal and termination option to lease assets for additional terms between one and ten years. The Company applies judgement in evaluating whether it is reasonably certain to exercise the option to renew or terminate the lease. The Company considers all relevant factors that create an economic incentive for it to exercise the renewal or termination option. After the commencement date, the Company reassesses the lease term if there is a significant event or change in circumstances that is within the Company’s control and affects its ability to exercise (or not to exercise) the option to renew or terminate.

The Company has applied an incremental borrowing rate for the purpose of computing lease liabilities based on the remaining lease term and the rates prevailing in the jurisdictions where leases were executed.

For the year ended December 31, 2020, due to the impact of the COVID-19 pandemic on the Company’s current and future revenues and operations, the Company recorded restructuring charges related to the abandonment of leased office premises and related assets. See Note 29 for additional information.

2. Summary of significant accounting policies (Continued)

(h) Cost of revenue

Cost of revenue primarily consists of salaries and benefits (including stock-based compensation), recruitment, training and related costs of employees who are directly responsible for the performance of services for customers, their supervisors and certain support personnel who may be dedicated to a particular customer or a set of processes. It also includes operational expenses, which consist of facilities maintenance expenses, travel and living expenses, rent, IT expenses, and consulting and certain other expenses. Consulting charges represent the cost of consultants and contract resources with specialized skills who are directly responsible for the performance of services for customers and travel and other billable costs related to the Company’s customers. It also includes depreciation of property, plant and equipment, and amortization of intangible and ROU assets which are directly related to providing services that generate revenue.

(i) Selling, general and administrative expenses

Selling, general and administrative (SG&A) expenses consist of expenses relating to salaries and benefits (including stock-based compensation) as well as costs related to recruitment, training and retention of senior management and other support personnel in enabling functions such as human resources, finance, legal, marketing, sales and sales support, and other support personnel. The operational costs component of SG&A expenses also includes travel and living costs for such personnel. SG&A expenses also include acquisition-related costs, legal and professional fees (which represent the costs of third party legal, tax, accounting and other advisors), investment in research and development, digital technology, advanced automation and robotics, and an allowance for credit losses. It also includes depreciation of property, plant and equipment, and amortization of intangible and ROU assets other than those included in cost of revenue.

(j) Changes in accounting policies

Except as described below, the Company has applied accounting policies consistently to all periods presented in these consolidated financial statements. The Company adopted ASC Topic 326, Financial Instruments—Credit Losses (“Topic 326”), effective January 1, 2020. As a result of the Company’s adoption of this new standard, current expected credit losses (“CECL”) are measured using lifetime “expected credit loss” methodology, replacing the incurred loss model that recognized losses only when they became probable and estimable. The Company changed its accounting policy for recognition and measurement of CECL as detailed below. Topic 326 is applicable to financial assets measured at amortized cost, such as accounts receivable (including deferred billings), deposits, employee advances and cash and cash equivalents. It requires historical loss data to be adjusted to reflect changes in asset-specific considerations, current conditions and reasonable and supportable forecasts of future economic conditions. In order to analyze credit losses on financial assets, the Company applied a combination of methods, including the discounted cash flow and roll-rate methods, to determine expected credit losses. The expected credit losses are adjusted each period for changes in expected lifetime credit losses. The Company applied Topic 326 using the modified retrospective transition approach, which involves recognizing the cumulative effect of initial adoption of Topic 326 as an adjustment to its opening retained earnings as of January 1, 2020. Therefore, comparative information prior to the adoption date has not been adjusted.

As a result of adoption of ASC 326, the Company recognized an incremental allowance for credit losses on its accounts receivable and deferred billings of $4,185 and $734, respectively, resulting in an increase in deferred tax assets of $935 with a corresponding decrease in retained earnings of $3,984, net of deferred tax.

2. Summary of significant accounting policies (Continued)

Credit losses (effective January 1, 2020)

The Company recognizes an allowance for credit losses for all debt instruments other than those held at fair value through profit or loss. The Company pools its accounts receivable based on similar risk characteristics in estimating expected credit losses. Credit losses for accounts receivable are based on the roll-rate method, and the Company recognizes a loss allowance based on lifetime expected credit losses at each reporting date. The Company has established a provision matrix based on historical credit loss experience, adjusted for forward-looking factors and the economic environment. The Company believes the most relevant forward-looking factors are economic environment, gross domestic product, inflation rates and unemployment rates for each of the countries in which the Company or its customers operate, and accordingly the Company adjusts historical loss rates based on expected changes in these factors. At every reporting date, observed historical default rates are updated to reflect changes in the Company’s forward-looking estimates.

Credit losses for other financial assets including deferred billings are based on the discounted cash flow (“DCF”) method. Under the DCF method, the allowance for credit losses reflects the difference between the contractual cash flows due in accordance with the contract and the present value of the cash flows expected to be collected. The expected cash flows are discounted at the effective interest rate of the financial asset. Such allowances are based on the credit losses expected to arise over the life of the asset which includes consideration of prepayments based on the Company’s expectation as of the balance sheet date.

A financial asset is written off when it is deemed uncollectable and there is no reasonable expectation of recovering the contractual cash flows. Expected recoveries of amounts previously written off, not to exceed the aggregate amounts previously written off, are included in determining the allowance at each reporting period.

Credit losses are presented as a credit loss expense within “Selling, general and administrative expenses.” Subsequent recoveries of amounts previously written off are credited against the same line item.

Impact on consolidated financial statements

The following table summarizes the impact of the Company’s adoption of Topic 326 on its consolidated financial statements as of January 1, 2020.

	As reported December 31, 2019		Adoption of Topic 326 Increase/(Decrease)		Balance as of January 1, 2020
Accounts receivable, net		914,255		(4,185)		910,070
Other assets		217,079	(734)*			216,345
Deferred tax assets		89,715		935		90,650
Retained earnings		648,656		(3,984)		644,672

*Represents the expected credit loss on deferred billings amounting to $7,858 included in “Other assets.”

(k) Reclassification

Certain reclassifications have been made in the consolidated financial statements of prior periods to conform to the classification used in the current period. The impact of such reclassifications on the consolidated financial statements is not material.

(l) Cash and cash equivalents

Cash and cash equivalents consist of cash and bank balances and all highly liquid investments purchased with an original maturity of three months or less.

2. Summary of significant accounting policies (Continued)

(m) Short-term investments

All liquid investments with an original maturity greater than three months but less than one year are considered to be short-term investments. Marketable short-term investments are classified and accounted for as available-for-sale investments. Available-for-sale investments are reported at fair value with changes in unrealized gains and losses recorded as a separate component of other comprehensive income (loss) until realized. Realized gains and losses on investments are determined based on the specific identification method and are included in “Other income (expense), net.” The Company does not hold these investments for speculative purposes.

(n) Property, plant and equipment, net

Property, plant and equipment are stated at cost less accumulated depreciation and amortization and accumulated impairment loss. Expenditures for replacements and improvements are capitalized, whereas the costs of maintenance and repairs are charged to earnings as incurred. The Company depreciates and amortizes all property, plant and equipment using the straight-line method over the following estimated economic useful lives of the assets:

		Years
Buildings		40
Furniture and fixtures		4
Computer equipment and servers		4
Plant, machinery and equipment		4
Computer software		4-7
Leasehold improvements		Lease period or 10 Years, whichever is less
Vehicles		3-4

The Company capitalizes certain computer software and software development costs incurred in connection with developing or obtaining computer software for internal use when both the preliminary project stage is completed and it is probable that the software will be used as intended. Capitalized software costs include only (i) external direct costs of materials and services utilized in developing or obtaining computer software, (ii) compensation and related benefits for employees who are directly associated with the software project and (iii) interest costs incurred while developing internal-use computer software.

Capitalized computer software costs are included in property, plant and equipment on the Company’s balance sheet and amortized on a straight-line basis when placed into service over the estimated useful lives of the software.

Advances paid towards acquisition of property, plant and equipment outstanding as of each balance sheet date and the cost of property, plant and equipment not put to use before such date are disclosed under “Capital work in progress.”

(o) Impairment of long-lived assets

Long-lived assets, including certain intangible assets, to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Such assets are required to be tested for impairment if the carrying amount of the assets is higher than the future undiscounted net cash flows expected to be generated from the assets. The impairment amount to be recognized is measured as the amount by which the carrying value of the assets exceeds their fair value. The Company determines fair value by using a discounted cash flow approach.

2. Summary of significant accounting policies (Continued)

(p) Foreign currency

The Company’s consolidated financial statements are reported in U.S. dollars, the Company’s functional currency. The functional currency for the Company’s subsidiaries organized in Europe, other than the United Kingdom, the Czech Republic, Luxembourg and one subsidiary in Poland, is the euro, and the functional currencies of the Company’s subsidiaries organized in Brazil, China, Colombia, Guatemala, India, Israel, Japan, Morocco, South Africa, the Philippines, Poland, the Czech Republic, Hong Kong, Singapore, Australia and Canada are their respective local currencies. The functional currency of all other Company subsidiaries is the U.S. dollar. The translation of the functional currencies of the Company’s subsidiaries into U.S. dollars is performed for balance sheet accounts using the exchange rates in effect as of the balance sheet date and for revenues and expense accounts using a monthly average exchange rate prevailing during the respective period. The gains or losses resulting from such translation are reported as currency translation adjustments under other comprehensive income (loss), net, under accumulated other comprehensive income (loss) as a separate component of equity.

Monetary assets and liabilities of each subsidiary denominated in currencies other than the subsidiary’s functional currency are translated into their respective functional currency at the rates of exchange prevailing on the balance sheet date. Transactions of each subsidiary in currencies other than the subsidiary’s functional currency are translated into the respective functional currencies at the average monthly exchange rate prevailing during the period of the transaction. The gains or losses resulting from foreign currency transactions are included in the consolidated statements of income.

(q) Derivative instruments and hedging activities

In the normal course of business, the Company uses derivative financial instruments to manage fluctuations in foreign currency exchange rates and interest rate fluctuation. The Company enters into forward foreign exchange contracts to mitigate the risk of changes in foreign exchange rates on intercompany transactions and forecasted transactions denominated in foreign currencies and interest rate swaps to mitigate interest rate fluctuation risk on its indebtedness.

The Company recognizes derivative instruments and hedging activities as either assets or liabilities in its consolidated balance sheets and measures them at fair value. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. Changes in the fair values of derivatives designated as cash flow hedges are deferred and recorded as a component of other comprehensive income (loss) reported under accumulated other comprehensive income (loss) until the hedged transactions occur and are then recognized in the consolidated statements of income along with the underlying hedged item and disclosed as part of “Total net revenues,” “Cost of revenue,” “Selling, general and administrative expenses” and “Interest expense,” as applicable. Changes in the fair value of derivatives not designated as hedging instruments and the ineffective portion of derivatives designated as cash flow hedges are recognized in the consolidated statements of income and are included in foreign exchange gains (losses), net, and other income (expense), net, respectively.

With respect to derivatives designated as cash flow hedges, the Company formally documents all relationships between hedging instruments and hedged items, as well as its risk management objectives and strategy for undertaking various hedge transactions. The Company also formally assesses, both at the inception of the hedge and on a quarterly basis, whether each derivative is highly effective in offsetting changes in fair values or cash flows of the hedged item. If it is determined that a derivative or portion thereof is not highly effective as a hedge, or if a derivative ceases to be a highly effective hedge, the Company will prospectively discontinue hedge accounting with respect to that derivative instrument.

In all situations in which hedge accounting is discontinued and the derivative is retained, the Company continues to carry the derivative at its fair value on the balance sheet and recognizes any subsequent change in its fair value in the consolidated statements of income. When it is probable that a forecasted transaction will not occur, the Company discontinues hedge accounting and recognizes immediately, in foreign exchange gains (losses), net in the consolidated statements of income, the gains and losses attributable to such derivative that were accumulated in other comprehensive income (loss).

2. Summary of significant accounting policies (Continued)

(r) Income taxes

The Company accounts for income taxes using the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable or refundable for the current year. In addition, deferred tax assets and liabilities are recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their tax bases and for all operating loss and tax credit carryforwards, if any. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax laws or rates is recognized in the consolidated statement of income in the period that includes the enactment date. Deferred tax assets are reduced by a valuation allowance if, based on the weight of available evidence, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

The Company applies a two-step approach for recognizing and measuring the benefit of tax positions. The first step is to evaluate the tax position for recognition by determining, based on the technical merits, that the position will more likely than not be sustained upon examination. The second step is to measure the tax benefit as the largest amount of the tax benefit that is greater than 50 percent likely of being realized upon settlement. The Company includes interest and penalties related to an underpayment of income taxes within income tax expense

The Company follows the specific identification approach for releasing stranded tax effects from accumulated other comprehensive income (“AOCI”) upon recognition of these AOCI items in the consolidated statement of income.

(s) Employee benefit plans

Contributions to defined contribution plans are charged to consolidated statements of income in the period in which services are rendered by the covered employees. Current service costs for defined benefit plans are accrued in the period to which they relate. The liability in respect of defined benefit plans is calculated annually by the Company using the projected unit credit method. Prior service cost, if any, resulting from an amendment to a plan is recognized and amortized over the remaining period of service of the covered employees. The Company recognizes its liabilities for compensated absences dependent on whether the obligation is attributable to employee services already rendered, relates to rights that vest or accumulate and payment is probable and estimable.

On January 1, 2018, the Company adopted ASU 2017-07, Compensation-Retirement Benefits (Topic 715): Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. The service cost is recognized under “cost of revenue” and “selling, general and administrative expenses,” depending on the functional area of the underlying employees included in the plans, and the non-operating components of net benefit plan costs are included within “other income (expense), net” in the consolidated statements of income.

The Company records annual amounts relating to its defined benefit plans based on calculations that incorporate various actuarial and other assumptions, including discount rates, mortality, assumed rates of return on plan assets, future compensation increases and attrition rates. The Company reviews its assumptions on an annual basis and makes modifications to the assumptions based on current rates and trends when it is appropriate to do so. The effect of modifications to those assumptions is recorded in other comprehensive income (loss) and amortized to net periodic cost over future periods using the corridor method. The Company believes that the assumptions utilized in recording its obligations under its plans are reasonable based on its experience and market conditions.

(t) Deferred Compensation Plans

The Company maintains a non-qualified deferred compensation plan for certain employees. The plan is accounted for using the fair value measurement approach. Plan earnings are calculated by reference to actual earnings of the funds chosen by individual participants. In connection with the administration of this plan, the Company has purchased Company-owned life insurance policies insuring the lives of certain employees, held under a Rabbi Trust. The Company consolidates the invested assets of the trust. The cash surrender value of these insurance policies is included in “other assets” in the consolidated balance sheets at fair value. Gains or losses on the plan’s assets and changes in the fair value of deferred compensation liabilities are included in “other income (expense), net,” and “selling, general and administrative expenses,” respectively, in the consolidated statements of income.

2. Summary of significant accounting policies (Continued)

(u) Stock-based compensation

The Company recognizes and measures compensation expense for all stock-based awards based on the grant date fair value. For option awards, grant date fair value is determined under the option-pricing model (Black-Scholes-Merton model) and for stock based awards other than option awards, grant date fair value is determined on the basis of the fair market value of a Company common share on the date of grant of such awards. The fair value determined at the grant date is expensed over the vesting period of the stock-based awards. The Company recognizes compensation expense for stock-based awards net of estimated forfeitures. Stock-based compensation recognized in the consolidated statements of income is based on awards ultimately expected to vest. As a result, the expense has been reduced for estimated forfeitures. Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from such estimates.

(v) Accelerated Share Repurchase

The Company entered into an accelerated share repurchase (“ASR”) agreement in 2017 with a third-party financial institution to repurchase the Company’s common shares. Under the ASR agreement, the Company paid an upfront amount to the financial institution and received an initial delivery of shares. Upon an interim delivery and settlement of the ASR agreement, the financial institution delivered additional shares to the Company, with the final number of shares delivered determined by reference to the volume-weighted average price of the Company’s common shares over the term of the agreement, less an agreed-upon discount. The transactions were accounted for as equity transactions. All shares repurchased under the ASR agreement were retired. The number of weighted average common shares outstanding used by the Company for purposes of calculating basic and diluted earnings per share was reduced as of the date of delivery of the common shares.

(w) Government incentives

The Company recognizes incentives in the consolidated statements of income under “other income (expense), net.” Incentives are recognized in the consolidated statements of income when there is reasonable assurance that the Company will comply with the conditions for their receipt and a reasonable expectation that the funds will be received. In certain circumstances, the receipt of an incentive may not be subject to any condition or requirement to incur further costs, in which case the incentive is recognized in the consolidated statement of income for the period in which it becomes receivable. In the event that it becomes likely that the Company will be required to repay an incentive that has already been recognized, the Company makes a provision for the estimated liability.

(x) Earnings (loss) per share

Basic earnings per share is computed using the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common and dilutive common equivalent shares outstanding during the period. For the purposes of calculating diluted earnings per share, the treasury stock method is used for stock-based awards except where the results would be anti-dilutive.

(y) Commitments and contingencies

Liabilities for loss contingencies arising from claims, assessments, litigation, fines and penalties, and other sources are recorded when it is probable that a liability has been incurred and the amount of the assessment and/or remediation can be reasonably estimated. Legal costs incurred in connection with such liabilities are expensed as incurred.

2. Summary of significant accounting policies (Continued)

(z) Debt restructuring

The Company accounts for any restructuring of its credit facility using the ten percent cash flow test in accordance with ASC 470, Debt. If the cash flow effect of the change in terms on a present-value basis is less than ten percent, the debt instruments are not considered to be substantially different, and are accounted for as a modification. If the change is more than ten percent, it is treated as an extinguishment. In performing the cash flow test, the Company includes all amounts paid to its lenders in connection with the restructuring but excludes third party expenses. In the case of a modification, all new fees paid to lenders are capitalized and amortized as part of the existing effective yield and any new fees paid to third parties are expensed as incurred under selling, general and administrative expenses. No gain or loss is recorded in the case of a modification. In the case of an extinguishment, all new fees paid to lenders are expensed as incurred under selling, general and administrative expenses and any new fees paid to third parties are capitalized and amortized as a debt issuance cost. The old debt is derecognized and the new debt is recorded at fair value and a gain or loss is recorded for the difference between the net carrying value of the original debt and the fair value of the new debt.

(aa) Recently issued accounting pronouncements

The authoritative bodies release standards and guidance which are assessed by management for impact on the Company’s consolidated financial statements.

The Company has adopted the following recently released accounting standards:

The Company adopted ASC Topic 842, Leases, with a date of initial application of January 1, 2019, using the modified retrospective approach. The significant accounting policy for leases is outlined in section (g) above.

In March 2019, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standard Update (“ASU”) 2019-01, Leases (Topic 842): Codification Improvement. The new standard contains several amendments to clarify the codification more generally and/or to correct unintended applications of the guidance. The changes in the new standard eliminate the requirement for transition disclosures related to Topic 250-10-50-3. The guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within those years. Early application is permitted. In the quarter ended March 31, 2019, the Company adopted ASU 2019-01 effective January 1, 2019 and no prior periods have been adjusted.

In August 2017, the FASB issued ASU 2017-12, “Derivatives and Hedging.” The amendment expands an entity’s ability to apply hedge accounting to non-financial and financial risk components and requires changes in the fair value of hedging instruments to be presented in the same income statement line as a hedged item. The ASU also amends the presentation and disclosure requirements for the effect of hedge accounting. The ASU must be adopted using a modified retrospective approach with a cumulative effect adjustment recorded to the opening balance of retained earnings as of the initial application date. The ASU was effective for the Company beginning January 1, 2019, including interim periods in the fiscal year 2019. On January 1, 2019, the Company adopted this ASU and concluded that it does not have any impact on its consolidated results of operations, cash flows, financial position or disclosures.

In July 2019, the FASB issued ASU 2019-07, Codification Updates to SEC Sections. This ASU amends various SEC paragraphs pursuant to the issuance of SEC Final Rule Releases No. 33-10532, Disclosure Update and Simplification, and Nos. 33-10231 and 33-10442, Investment Company Reporting Modernization. The S-X Rule 3-04 requires the presentation of changes in stockholders’ equity in the form of a reconciliation of the beginning balance to the ending balance for each period for which a statement of income is required to be filed with all significant reconciling items. The Company presented changes in stockholders' equity as separate financial statements for the current and comparative year-to-date interim periods beginning on January 1, 2019. This guidance was effective immediately upon issuance. The additional elements of the ASU did not have a material impact on the Company's consolidated results of operations, cash flows, financial position or disclosures.

2. Summary of significant accounting policies (Continued)

In June 2016, the FASB issued ASU No. 2016-13, “Measurement of credit losses on financial instruments.” The ASU requires measurement and recognition of expected credit losses for financial assets held by the Company. The ASU requires entities to estimate an expected lifetime credit loss on financial assets ranging from short-term trade accounts receivable to long-term financings. The ASU became effective for the Company beginning January 1, 2020, including interim periods in fiscal year 2020.

In May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments—Credit Losses (Topic 326).” The ASU provides final guidance that allows entities to make an irrevocable one-time election upon adoption of the new credit losses standard to measure financial assets at amortized cost (except held-to-maturity securities) using the fair value option. The ASU is effective for the Company beginning January 1, 2020, including interim periods in fiscal year 2020.

In November 2019, the FASB issued ASU No. 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses.” This ASU clarifies that the scope of the guidance related to expected recoveries extends to purchased financial assets with credit deterioration. For entities that have not yet adopted ASU 2016-13, the amendments in ASU 2019-11 are effective on the same date as those in ASU 2016-13. For entities that have adopted ASU 2016-13, the amendments in ASU 2019-11 are effective for fiscal years beginning January 1, 2020 and interim periods therein.

The Company adopted ASU 2016-13, ASU 2019-05 and ASU 2019-11 beginning January 1, 2020, including interim periods in fiscal year 2020. The cumulative impact of the adoption of these standards has been described in section (j) above.

In August 2018, the FASB issued ASU No. 2018-13, “Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement.” The ASU modifies the disclosure requirements with respect to fair value measurements. The ASU is effective for the Company beginning January 1, 2020, including interim periods in fiscal year 2020. The Company assessed the impact of this ASU and concluded that it does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

In August 2018, the FASB issued ASU No. 2018-14, “Disclosure Framework—Changes to the Disclosure Requirements for Defined Benefit Plans.” The ASU modifies the disclosure requirements with respect to defined benefit pension plans. The Company adopted this ASU in its consolidated financial statements for the year ended December 31, 2020 and it did not have any material impact on its disclosures.

In August 2018, the FASB issued ASU No. 2018-15, “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract.” The ASU modifies the capitalization requirements with respect to implementation costs incurred by the customer in a hosting arrangement that is a service contract. The ASU is effective for the Company beginning January 1, 2020. The Company assessed the impact of this ASU and concluded that it does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

In April 2019, the FASB issued ASU No. 2019-04, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments.” The ASU provides additional guidance on the recognition of credit losses and addresses partial-term fair value hedges, fair value hedge basis adjustments and certain transition requirements, among other things. The ASU also addresses the scope of the guidance on the requirement for re-measurement under ASC 820 when using the measurement alternative, certain disclosure requirements and which foreign currency-denominated equity securities must be re-measured at historical exchange rates. The ASU is effective for the Company beginning January 1, 2020, including interim periods in fiscal year 2020. The Company assessed the impact of this ASU and concluded that it does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

In November 2019, the FASB issued ASU No. 2019-08, “Codification Improvements—Share-Based Consideration Payable to a Customer.” The ASU clarifies that share-based consideration payable to a customer is measured in accordance with guidance under AC 718--Share based payments. The ASU is effective for the Company beginning January 1, 2020, including interim periods in fiscal year 2020. The Company assessed the impact of this ASU and concluded that it does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

2. Summary of significant accounting policies (Continued)

In March 2020, the FASB issued ASU No. 2020-03, “Codification Improvements to Financial Instruments.” This ASU includes amendments that make the Codification easier to understand and apply by eliminating inconsistencies and providing clarifications in relation to financial instruments. This guidance was effective immediately upon issuance. The additional elements of the ASU did not have a material impact on the Company's consolidated results of operations, cash flows, financial position and or disclosures.

In October 2020, the FASB issued ASU No. 2020-09, “Codification Improvements to Topic 470, Debt— Amendments to SEC Paragraphs Pursuant to SEC Release No. 33-10762.” The SEC in its Release No. 33-10762 in March 2020 has adopted new rules on financial disclosure requirements for guarantors and issuers of guaranteed securities and affiliates whose securities collateralize issuers’ securities. This ASU revises certain SEC paragraphs of the FASB’s Accounting Standards Codification (ASC) to reflect, as appropriate, the amended financial statement disclosure requirements in SEC Release 33-10762. The amended rules are effective January 4, 2021 but early compliance is permitted. The Company adopted the amended rules issued by the SEC in its Release No. 33-10762 in the first quarter of 2020. Accordingly, the Company has already adopted the amendments under this ASU and the disclosures related to guarantor financial information has been omitted from the Notes to the Consolidated Financial Statements and included as part of Part II, Item 7 “Management’s Discussion and Analysis of Financial Condition and Results of Operations.”

The following recently released accounting standards have not yet been adopted by the Company:

In December 2019, the FASB issued ASU No. 2019-12, “Simplifying the Accounting for Income Taxes.” This ASU removes certain exceptions for investments, intra-period tax allocations and interim calculations, and adds guidance to reduce complexity in accounting for income taxes. The ASU is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning January 1, 2021. Early adoption is permitted. The Company assessed the impact of this ASU and concluded that it does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

In March 2020, the FASB issued ASU No. 2020-04, “Facilitation of the Effects of Reference Rate Reform on Financial Reporting.” This ASU provides temporary optional expedients and exceptions to the guidance in US GAAP on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (“LIBOR”) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (“SOFR”). Entities can elect not to apply certain modification accounting requirements to contracts affected by what the guidance calls reference rate reform, if certain criteria are met. An entity that makes this election would not have to remeasure the contracts at the modification date or reassess a previous accounting determination. The guidance is effective upon issuance and generally can be applied through December 31, 2022. The Company assessed the impact of this ASU and since a substantial portion of the LIBOR-linked credit facilities are either hedged or short term in nature, and the credit agreements cover the replacement mechanism in case the LIBOR is discontinued, the Company concluded that the adoption of this ASU does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

In October 2020, the FASB issued ASU No. 2020-10, “Codification Improvements.” The amendments in this ASU do not change the GAAP requirements but it improves consistency by amending the Codification to include all disclosure guidance in the appropriate disclosure sections and also clarifies application of various provisions in the codification by amending and adding new headings, cross referencing to other guidance, and refining or correcting terminology. The ASU is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning January 1, 2021. Early application is permitted. The Company assessed the impact of this ASU and concluded that it does not have any material impact on its consolidated results of operations, cash flows, financial position or disclosures.

Business acquisitions

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Acquisitions

3. Business acquisitions

(a)

Enquero, Inc.

On December 31, 2020, the Company acquired 100% of the outstanding equity interests in Enquero, Inc., a California corporation, and certain affiliated entities in India, the Netherlands and Canada (collectively referred to as “Enquero”) for total purchase consideration of $148,905. This amount represents cash consideration of $137,274, net of cash acquired of $11,631. The total purchase consideration paid by the Company to the sellers was $141,938, resulting in a payable of $6,967, which is outstanding as of December 31, 2020. The Company is evaluating adjustments related to certain income and other taxes, which, when determined, may result in the recognition of additional assets or liabilities as of the acquisition date. The measurement period will not exceed one year from the acquisition date. This acquisition is expected to increase the scale and depth of the Company’s data and analytics capabilities and enhance the Company’s ability to accelerate the digital transformation journeys of its clients through cloud technologies and advanced data analytics.

In connection with this acquisition, the Company recorded $49,000 in customer-related intangibles, $9,500 in marketing-related intangibles and $1,400 in technology-related intangibles, which have a weighted average amortization period of four years. Goodwill arising from the acquisition amounting to $86,669 has been allocated using a relative fair value allocation method to each of the Company’s reporting segments as follows: to the BCMI segment in the amount of $2,559, to the CGRLH segment in the amount of $22,239 and to the HMS segment in the amount of $61,871. The goodwill arising from this acquisition is not deductible for income tax purposes. The goodwill represents primarily the acquired capabilities, operating synergies and other benefits expected to result from combining the acquired operations with the Company’s existing operations.

Acquisition-related costs of $1,590 have been included in selling, general and administrative expenses as incurred. In connection with the transaction, the Company also acquired certain assets with a value of $32,759, assumed certain liabilities amounting to $17,113 and recognized a net deferred tax liability of $13,310. The agreement with the sellers provides a full indemnity to the Company for all pre-closing income and non-income tax liabilities up to a maximum of the purchase consideration, including interest and penalties thereon. The Company would not be financially or materially affected by any liabilities that may arise from such exposures. Accordingly, the Company recognized an indemnification asset of $5,848 based on the information that was available at the date of the acquisition, which is included in the assets taken over by the Company. The results of operations of the acquired business and the fair value of the acquired assets and assumed liabilities are included in the Company’s consolidated financial statements with effect from the date of the acquisition.

(b)

SomethingDigital.Com LLC

On October 5, 2020, the Company acquired 100% of the outstanding equity/limited liability company interests in SomethingDigital.Com LLC, a New York limited liability company, for total purchase consideration of $57,451. This amount represents cash consideration of $56,073, net of cash acquired of $1,378. The total purchase consideration paid by the Company to the sellers was $57,704, resulting in a recoverable of $253 as of December 31, 2020. The Company is evaluating adjustments related to certain income and other taxes, which, when determined, may result in the recognition of additional assets or liabilities as of the acquisition date. The measurement period will not exceed one year from the acquisition date. This acquisition supports the Company’s strategy to integrate experience and process innovation to help clients on their digital transformation journeys and expands on the Company’s existing experience capabilities to support end-to-end digital commerce solutions, both business-to-business and business-to-consumer. Additionally, this acquisition expands the Company’s capabilities into Magento Commerce, which powers Adobe Commerce Cloud, and Shopify Plus, a cloud-based ecommerce platform for high volume merchants.

3. Business acquisitions (Continued)

In connection with this acquisition, the Company recorded $11,900 in customer-related intangibles and $3,500 in marketing-related intangibles which have a weighted average amortization period of four years. Goodwill arising from the acquisition amounting to $36,926 has been allocated using a relative fair value allocation method to two of the Company’s reporting segments as follows: to the CGRLH segment in the amount of $30,373 and to the HMS segment in the amount of $6,553. Of the total goodwill arising from this acquisition, $35,084 is deductible for income tax purposes. The goodwill represents primarily the acquired capabilities, operating synergies and other benefits expected to result from combining the acquired operations with those of the Company’s existing operations.

Acquisition-related costs of $1,060 have been included in selling, general and administrative expenses as incurred. In connection with the transaction, the Company also acquired certain assets with a value of $9,538, assumed certain liabilities amounting to $4,494 and recognized a net deferred tax asset of $81. The results of operations of the acquired business and the fair value of the acquired assets and assumed liabilities are included in the Company’s consolidated financial statements with effect from the date of the acquisition.

(c)

Rightpoint Consulting, LLC

On November 12, 2019, the Company acquired 100% of the outstanding equity/limited liability company interests in Rightpoint Consulting, LLC, an Illinois limited liability company, and certain affiliated entities in the United States and India (collectively referred to as “Rightpoint”) for total purchase consideration of $270,669. This amount includes cash consideration of $268,170, net of cash acquired of $2,499. The total purchase consideration paid by the Company to the sellers on the acquisition date was $248,470, resulting in a payable of $22,199. This acquisition expands the Company’s capabilities in improving customer experience.

The securities purchase agreement between the Company and the selling equity holders of Rightpoint provided certain of the selling equity holders the option to elect to either (a) receive 100% consideration in cash at the closing date for their limited liability company interests and vested options or (b) “roll over” and retain 25% of their Rightpoint limited liability company interests and vested options for a three-year rollover period and receive cash consideration at closing for the remaining 75% of their Rightpoint limited liability company interests and vested options. Certain selling equity holders elected to receive deferred, variable earnout consideration with an estimated value of $21,500 over the rollover period of three years which is included in the purchase consideration. The amount of deferred earnout consideration ultimately payable by the Company to the selling equity holders of Rightpoint will be based on the future revenue multiple of the acquired business. Additionally, under the purchase agreement the selling equity holders are obligated to sell their rollover interests to the Company. Accordingly, the Company has obtained control over 100% of the outstanding equity/limited liability company interests of Rightpoint as of November 12, 2019. Refer to Note 6, “Fair Value Measurements,” for additional details.

In connection with this acquisition, the Company recorded $46,000 in customer-related intangibles and $29,000 in marketing-related intangibles which have a weighted average amortization period of five years. Goodwill arising from the acquisition amounting to $177,181 has been allocated using a relative fair value allocation method to each of the Company’s reporting segments as follows: to the BCMI segment in the amount of $16,983, to the CGRLH segment in the amount of $42,993 and to the HMS segment in the amount of $117,205. Of the total goodwill arising from this acquisition, $91,929 is deductible for income tax purposes. The goodwill represents primarily the acquired capabilities, operating synergies and other benefits expected to result from combining the acquired operations with those of the Company.

Acquisition-related costs of $7,385 have been included in selling, general and administrative expenses as incurred. In connection with the transaction, the Company also acquired certain assets with a value of $39,140, assumed certain liabilities amounting to $22,295 and recognized a net deferred tax asset of $1,643. The results of operations of the acquired business and the fair value of the acquired assets and assumed liabilities are included in the Company’s consolidated financial statements with effect from the date of the acquisition.

3. Business acquisitions (Continued)

(d)

riskCanvas Holdings, LLC

On January 7, 2019, the Company acquired 100% of the outstanding equity interests in riskCanvas Holdings, LLC, a Delaware limited liability company, for total purchase consideration of $5,747. This amount includes cash consideration of $5,700, net of adjustment for working capital. No portion of the total consideration, payable in cash, was unpaid as of December 31, 2020. This acquisition expands the Company’s services in the areas of financial institution fraud, anti-money laundering and financial transaction surveillance and enhances its consulting capabilities for clients in the financial services industry.

In connection with this acquisition, the Company recorded $1,700 in customer-related intangibles, $1,400 in software-related intangibles and $100 in restrictive covenants. Goodwill arising from the acquisition amounting to $2,547 has been allocated to the Company’s BCMI reporting segment and is deductible for income tax purposes. The goodwill represents primarily the acquired capabilities, operating synergies and other benefits expected to result from combining the acquired operations with those of the Company.

Acquisition-related costs of $967 have been included in selling, general and administrative expenses as incurred. In connection with the transaction, the Company also acquired certain assets with a value of $660 and assumed certain liabilities amounting to $707. The results of operations of the acquired business and the fair value of the acquired assets and assumed liabilities are included in the Company’s consolidated financial statements with effect from the date of the acquisition.

Cash and cash equivalents

12 Months Ended

Dec. 31, 2020

Cash And Cash Equivalents [Abstract]

Cash and cash equivalents

4. Cash and cash equivalents

	As of December 31,		As of December 31,
	2019		2020

Cash and other bank balances		467,096		680,440
Total	$	467,096	$	680,440

Accounts receivable, net of allowance for credit losses

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Accounts receivable, net of allowance for credit losses

5. Accounts receivable, net of allowance for credit losses

Accounts receivable were $944,224 and $908,727, and reserve for doubtful receivables was $29,969 and allowance for credit losses was $27,707, resulting in net accounts receivable balances of $914,255 and $881,020 as of December 31, 2019 and 2020, respectively.

The following table provides details of the Company’s allowance for credit losses:


	Year ended December 31,
	2018			2019			2020
Opening balance as of January 1	$	23,660		$	23,960		$	29,969
Transition period adjustment on accounts receivables (through retained earnings) pursuant to adoption of ASC 326		—			—			4,185
Adjusted balance as of January 1		23,660			23,960			34,154
Additions due to acquisitions		—			1,004			200
Additions charged/reversal released to cost and expense, net		1,857			7,443			3,307
Deductions/effect of exchange rate fluctuations		(1,557	)		(2,438	)		(9,954	)
Closing balance	$	23,960		$	29,969		$	27,707

Fair Value Measurements

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

6. Fair Value Measurements

The Company measures certain financial assets and liabilities, including derivative instruments, at fair value on a recurring basis. The fair value measurements of these financial assets and liabilities were determined using the following inputs as of December 31, 2019 and 2020:

	As of December 31, 2019
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments (Note a, c)	$	21,309	$	—	$	21,309		$	—
Deferred compensation plan assets (a, e)		11,208		—		—			11,208
Total	$	32,517	$	—	$	21,309		$	11,208
Liabilities
Earn out Consideration (Note b, d)	$	22,184	$	—	$	—		$	22,184
Derivative instruments (Note b, c)		24,239		—		24,239			—
Deferred compensation plan liability (b, f)		10,943		—		—			10,943
Total	$	57,366	$	—	$	24,239		$	33,127

	As of December 31, 2020
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments (Note a, c)	$	27,709	$	—	$	27,709	$	—
Deferred compensation plan assets (Note a, e)		26,832		—		—		26,832
Total	$	54,541	$	—	$	27,709	$	26,832
Liabilities
Earn out consideration (Note b, d)	$	8,272	$	—	$	—	$	8,272
Derivative instruments (Note b, c)		40,981		—		40,981		—
Deferred compensation plan liability (Note b, f)		26,390		—		—		26,390
Total	$	75,643	$	—	$	40,981	$	34,662

(a)	Included in “prepaid expenses and other current assets” and “other assets” in the consolidated balance sheets.

(b)	Included in “accrued expenses and other current liabilities” and “other liabilities” in the consolidated balance sheets.

(c)	The Company values its derivative instruments based on market observable inputs, including both forward and spot prices for the relevant currencies and interest rate indices for relevant interest rates. The quotes are taken from an independent market database.

(d)

The fair value of earn-out consideration, calculated as the present value of expected future payments to be made to the sellers of acquired businesses, was derived by estimating the future financial performance of the acquired businesses using the earn-out formula and performance targets specified in each purchase agreement and adjusting the result to reflect the Company’s estimate of the likelihood of achievement of such targets. Given the significance of the unobservable inputs, the valuations are classified in level 3 of the fair value hierarchy.

(e)

Deferred compensation plan assets consist of life insurance policies held under a Rabbi Trust. Assets held in the Rabbi Trust are valued based on the cash surrender value of the insurance contract, which is determined based on the fair value of the underlying assets included in the insurance portfolio and are therefore classified within level 3 of the fair value hierarchy.

6. Fair Value Measurements (Continued)

(f)	The fair value of the deferred compensation plan liability is derived based on the fair value of the underlying assets in the insurance policies and is therefore classified within level 3 of the fair value hierarchy.

The following table provides a roll-forward of the fair value of earn-out consideration categorized as level 3 in the fair value hierarchy for the years ended December 31, 2019 and 2020:

	Year ended December 31,
	2019			2020
Opening balance	$	17,073		$	22,184
Earn-out consideration payable in connection with acquisitions		21,701			—
Payments made on earn-out consideration (Note a)		(17,098	)		(6,552	)
Change in fair value of earn out consideration (Note b)		—			(7,790	)
Others (Note c)		508			430
Closing balance	$	22,184		$	8,272

(a)	Includes the interest payment on earn-out consideration in excess of the acquisition date fair value, which is included in “cash flows from operating activities” amounting to $4,308 and $0 for the year ended December 31, 2019 and 2020, respectively.

(b)	Changes in the fair value of earn-out consideration are reported in “other operating (income) expense, net” in the consolidated statements of income.

(c)

“Others” is comprised of interest expense included in “interest income (expense), net” and the impact of changes in foreign exchange reported in “foreign exchange gains (losses), net” in the consolidated statements of income. This also includes a cumulative translation adjustment reported as a component of other comprehensive income (loss).

The following table provides a roll-forward of the fair value of deferred compensation plan assets categorized as level 3 in the fair value hierarchy for the year ended December 31, 2019 and 2020:

	Year ended December 31,
	2019		2020
Opening balance	$	1,613	$	11,208
Additions (net of redemption)		8,299		11,460
Change in fair value of deferred compensation plan assets (Note a)		1,296		4,164
Closing balance	$	11,208	$	26,832

(a)	Changes in the fair value of plan assets are reported in “other income (expense), net” in the consolidated statements of income.

The following table provides a roll-forward of the fair value of deferred compensation liabilities categorized as level 3 in the fair value hierarchy for the year ended December 31, 2019 and 2020:

	Year ended December 31,
	2019		2020
Opening balance	$	1,582	$	10,943
Additions (net of redemption)		8,299		11,327
Change in fair value of deferred compensation plan liabilities (Note a)		1,062		4,120
Closing balance	$	10,943	$	26,390

(a)

Changes in the fair value of deferred compensation liabilities are reported in “selling, general and administrative expenses” in the consolidated statements of income.

Derivative financial instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative financial instruments

7. Derivative financial instruments

The Company is exposed to the risk of rate fluctuations on foreign currency assets and liabilities and on foreign currency denominated forecasted cash flows and interest rates. The Company has established risk management policies, including the use of derivative financial instruments to hedge foreign currency assets and liabilities and foreign currency denominated forecasted cash flows and interest rate risks. These derivative financial instruments are largely deliverable and non-deliverable forward foreign exchange contracts and interest rate swaps. The Company enters into these contracts with counterparties that are banks or other financial institutions, and the Company considers the risk of non-performance by such counterparties not to be material. The forward foreign exchange contracts and interest rate swaps mature over periods of up to 48 months and the forecasted transactions are expected to occur during the same periods.

The following table presents the aggregate notional principal amounts of outstanding derivative financial instruments together with the related balance sheet exposure:

	Notional principal amounts (note a)				Balance sheet exposure asset (liability) (note b)
	As of December 31, 2019		As of December 31, 2020		As of December 31, 2019			As of December 31, 2020
Foreign exchange forward contracts denominated in:
United States Dollars (sell) Indian Rupees (buy)	$	1,305,000	$	1,150,000		(5,740	)	$	15,207
United States Dollars (sell) Mexican Peso (buy)		—		17,500		—			716
United States Dollars (sell) Philippines Peso (buy)		66,600		67,200		462			1,332
Euro (sell) United States Dollars (buy)		122,337		96,651		4,135			(5,659	)
Singapore Dollars (buy) United States Dollars (sell)		10,017		10,153		38			66
Euro (sell) Romanian Leu (buy)		26,918		29,489		(314	)		(22	)
Japanese Yen (sell) Chinese Renminbi (buy)		29,350		19,230		(258	)		473
Pound Sterling (sell) United States Dollars (buy)		9,089		—		383			—
Australian Dollars (sell) United States Dollars (buy)		35,972		—		1,924			—
United States Dollars (sell) Hungarian Font (buy)		20,500		30,000		162			904
Hungarian Font (Sell) Euro (buy)		9,534		10,444		(157	)		61
Australian Dollars (sell) Indian Rupees (buy)		—		140,525		—			(7,670	)
Interest rate swaps (floating to fixed)		477,604		488,022		(3,565	)		(18,680	)
						(2,930	)		(13,272	)

(a)

Notional amounts are key elements of derivative financial instrument agreements but do not represent the amount exchanged by counterparties and do not measure the Company’s exposure to credit, foreign exchange, interest rate or other market risks. However, the amounts exchanged are based on the notional amounts and other provisions of the underlying derivative financial instrument agreements. Notional amounts are denominated in U.S. dollars.

(b)	Balance sheet exposure is denominated in U.S. dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date.

7. Derivative financial instruments (Continued)

FASB guidance on derivatives and hedging requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the balance sheet. In accordance with the FASB guidance on derivatives and hedging, the Company designates foreign exchange forward contracts and interest rate swaps as cash flow hedges. Foreign exchange forward contracts are entered into to cover the effects of future exchange rate variability on forecasted revenue and purchases of services, and interest rate swaps are entered into to cover interest rate fluctuation risk. In addition to this program, the Company uses derivative instruments that are not accounted for as hedges under the FASB guidance in order to hedge foreign exchange risks related to balance sheet items, such as receivables and intercompany borrowings, that are denominated in currencies other than the Company’s underlying functional currency.

The fair values of the Company’s derivative instruments and their location in the Company’s financial statements are summarized in the table below:

	Cash flow hedges				Non-designated
	As of December 31, 2019		As of December 31, 2020		As of December 31, 2019		As of December 31, 2020
Assets
Prepaid expenses and other current assets	$	16,214	$	16,188	$	2,009	$	5,357
Other assets	$	3,086	$	6,164	$	—	$	—

Liabilities
Accrued expenses and other current liabilities	$	6,152	$	16,387	$	814	$	3,785
Other liabilities	$	17,273	$	16,886	$	—	$	3,923

Cash flow hedges

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain (loss) on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction is recognized in the consolidated statements of income. Gains (losses) on the derivatives, representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness, are recognized in earnings as incurred.

In connection with cash flow hedges, the gains (losses) recorded as a component of other comprehensive income (loss), or OCI, and the related tax effects are summarized below:

	Year ended December 31,
	2018										2019									2020
	Before Tax amount			Tax (Expense) or Benefit*			Net of tax Amount			Before Tax amount				Tax (Expense) or Benefit*			Net of tax Amount			Before Tax amount			Tax (Expense) or Benefit*			Net of tax Amount
Opening balance	$	50,529		$	(14,436	)	$	36,093		$		(2,411	)	$	(5,524	)	$	(7,935	)	$	(4,126	)	$	(1,466	)	$	(5,592	)
Adoption of ASU 2018-02 (refer note 23)		—			2,265			2,265				—			—			—			—			—			—
Net gains (losses) reclassified into statement of income on completion of hedged transactions		9,336			(1,073	)		8,263				19,401			(7,212	)		12,189			(6,171	)		605			(5,566	)
Changes in fair value of effective portion of outstanding derivatives, net		(43,604	)		5,574			(38,030	)			17,686			(3,154	)		14,532			(12,966	)		3,932			(9,034	)
Gain/(loss) on cash flow hedging derivatives, net		(52,940	)		6,647			(46,293	)			(1,715	)		4,058			2,343			(6,795	)		3,327			(3,468	)
Closing balance	$	(2,411	)	$	(5,524	)	$	(7,935	)	$		(4,126	)	$	(1,466	)	$	(5,592	)	$	(10,921	)	$	1,861		$	(9,060	)

*The tax (expense) benefit includes the effect of novating certain hedging instruments as part of an intercompany transfer.

7. Derivative financial instruments (Continued)

The gains or losses recognized in other comprehensive income (loss) and their effects on financial performance are summarized below:


	Amount of Gain (Loss)									Location of Gain (Loss)	Amount of Gain (Loss) reclassified
Derivatives in	recognized in OCI on									reclassified	from OCI into Statement of Income
Cash Flow	Derivatives (Effective Portion)									from OCI into	(Effective Portion)
Hedging	Year ended December 31,									Statement of Income	Year ended December 31,
Relationships	2018			2019			2020			(Effective Portion)	2018			2019		2020
Forward foreign exchange contracts	$	(45,840	)	$	24,581		$	6,933		Revenue	$	(716	)	$	6,782	$	4,432
Interest rate swaps		2,236			(6,895	)		(19,899	)	Cost of revenue		4,723			6,435		(4,553	)
										Selling, general and administrative expenses		1,543			1,732		(1,266	)
										Interest expense		3,786			4,452		(4,784	)
	$	(43,604	)	$	17,686		$	(12,966	)		$	9,336		$	19,401	$	(6,171	)

There were no gains (losses) recognized in income on the ineffective portion of derivatives and excluded from effectiveness testing for the years ended December 31, 2018, 2019 and 2020, respectively.

Non-designated Hedges


		Amount of Gain (Loss) recognized in Statement of Income on Derivatives
		Year ended December 31,
Derivatives not designated as hedging instruments	Location of Gain (Loss) recognized in Statement of Income on Derivatives	2018			2019		2020
Forward foreign exchange contracts (Note a)	Foreign exchange gains (losses), net	$	(6,240	)	$	4,299	$	(8,055	)
Forward foreign exchange contracts (Note b)	Foreign exchange gains (losses), net		—			—		3,963
		$	(6,240	)	$	4,299	$	(4,092	)

(a)

These forward foreign exchange contracts were entered into to hedge fluctuations in foreign exchange rates for recognized balance sheet items, such as receivables and intercompany borrowings, and were not originally designated as hedges under FASB guidance on derivatives and hedging. Realized gains (losses) and changes in the fair value of these derivatives are recorded in foreign exchange gains (losses), net in the consolidated statements of income.

(b)

These forward foreign exchange contracts were initially designated as cash flow hedges under ASC guidance on derivatives and hedging. These contracts were terminated because certain forecasted transactions were no longer expected to occur and therefore hedge accounting was no longer applied. Subsequently, the realized gains (losses) are recorded in foreign exchange gains (losses) net in the consolidated statements of income.

In connection with the COVID-19 pandemic, the Company has reevaluated its hedging arrangements. The Company has considered the effect of changes, if any, in both counterparty credit risk and the Company’s own non-performance risk while assessing hedge effectiveness and measuring hedge ineffectiveness. The Company believes that its hedges continue to be effective after taking into account the expected impact of the COVID-19 pandemic on the Company’s hedged transactions.

Prepaid expenses and other current assets

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Prepaid expenses and other current assets

8. Prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Advance income and non-income taxes	$	43,763	$	73,008
Contract asset (Note 25)		19,170		9,035
Prepaid expenses		29,734		32,375
Derivative instruments		18,223		21,545
Employee advances		4,209		2,636
Deposits		1,784		8,774
Advances to suppliers		4,289		2,716
Others		49,153		37,319
	$	170,325	$	187,408

Property, plant and equipment, net

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property, plant and equipment, net

9. Property, plant and equipment, net

Property, plant and equipment, net consist of the following:

	As of December 31, 2019			As of December 31, 2020
Land	$	5,923		$	5,792
Buildings		42,595			41,622
Furniture and fixtures		49,849			52,610
Computer equipment and servers		229,890			270,376
Plant, machinery and equipment		105,004			109,722
Computer software		141,330			141,417
Leasehold improvements		123,413			126,761
Vehicles		120			152
Capital work in progress		46,037			44,011
Property, plant and equipment, gross	$	744,161		$	792,463
Less: Accumulated depreciation, amortization and impairment		(490,126	)		(561,341	)
Property, plant and equipment, net	$	254,035		$	231,122

Depreciation expense on property, plant and equipment for the years ended December 31, 2018, 2019 and 2020 was $49,518, $53,332 and $67,662, respectively. Software amortization for the years ended December 31, 2018, 2019 and 2020 amounted to $12,317, $14,167 and $9,421, respectively.

The depreciation and amortization expenses set forth above include the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts, amounting to $(231), $(267) and $213 for the years ended December 31, 2018, 2019 and 2020, respectively.

The Company recorded a write-down to certain property, plant and equipment during the years ended December 31, 2018 and 2020 as described in Note 10.

Goodwill and intangible assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

10. Goodwill and intangible assets

The following table presents the changes in goodwill for the years ended December 31, 2019 and 2020:

		As of December 31,
		2019		2020
Opening balance	$	1,393,832	$	1,574,466
Goodwill relating to acquisitions consummated during the period		185,381		123,595
Impact of measurement period adjustments		(988)		(5,653)
Effect of exchange rate fluctuations		(3,759)		3,280
Closing balance	$	1,574,466	$	1,695,688

The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2019:

		BCMI	CGRLH	HMS		Total
Opening balance	$	398,601	512,296		482,935		1,393,832
Goodwill relating to acquisitions consummated during the period		20,072	44,365		120,944		185,381
Impact of measurement period adjustments		(380)	(151)		(457)		(988)
Effect of exchange rate fluctuations		(1,080)	(1,380)		(1,299)		(3,759)
Closing balance	$	417,213	555,130		602,123		1,574,466

The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2020:

		BCMI	CGRLH	HMS		Total
Opening balance	$	417,213	555,130		602,123		1,574,466
Goodwill relating to acquisitions consummated during the period		2,559	52,612		68,424		123,595
Impact of measurement period adjustments		(542)	(1,372)		(3,739)		(5,653)
Effect of exchange rate fluctuations		942	1,204		1,134		3,280
Closing balance	$	420,172	607,574		667,942		1,695,688

In the years ended December 31, 2019 and 2020, in accordance with ASU 2011-08, the Company performed an assessment to determine whether events or circumstances exist that may lead to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on such assessment, as of December 31, 2019 and 2020, the Company concluded that it is not more likely than not that the fair values of any of the Company’s reporting units are less than their carrying amounts.

The remaining amount of the Company’s goodwill deductible for tax purposes was $282,524 and $296,046 as of December 31, 2019 and 2020, respectively.

10. Goodwill and intangible assets (Continued)

The Company’s intangible assets are as follows:

	As of December 31, 2019						As of December 31, 2020
	Gross carrying amount		Accumulated amortization & Impairment		Net		Gross carrying amount		Accumulated amortization & Impairment		Net
Customer-related intangible assets	$	415,375	$	329,724	$	85,651	$	478,189	$	359,652	$	118,537
Marketing-related intangible assets		84,180		50,217		33,963		96,561		61,154		35,407
Technology-related intangible assets		149,262		61,150		88,112		152,293		90,866		61,427
Intangible assets under development		26,646		3,511		23,135		23,864		2,503		21,361
	$	675,463	$	444,602	$	230,861	$	750,907	$	514,175	$	236,732

Amortization expenses for intangible assets acquired as a part of a business combination and disclosed in the consolidated statements of income under amortization of acquired intangible assets for the years ended December 31, 2018, 2019 and 2020 were $38,850, $32,612 and $43,343, respectively.

Amortization expenses for internally-developed and other intangible assets disclosed in the consolidated statements of income under cost of revenue and selling, general and administrative expenses for the years ended December 31, 2018, 2019 and 2020 were $2,807, $18,957 and $27,290, respectively.

Amortization expenses for the technology-related, internally-developed intangible assets set forth above include the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts, amounting to $5, $(76) and $74 for the years ended December 31, 2018, 2019 and 2020, respectively.

During the years ended December 31, 2018, 2019 and 2020, the Company tested for recoverability certain customer-related and technology-related intangible assets, including those under development, and certain property, plant and equipment, as a result of changes in the Company’s investment strategy and market trends which led to a decision to cease certain service offerings. Based on the results of its testing, the Company determined that the carrying value of certain assets tested were not recoverable and the Company recorded complete write-downs of the carrying values of these assets amounting to $4,265, $3,511 and $14,083, respectively, for the years ended December 31, 2018, 2019 and 2020. These write-downs have been recorded in “other operating (income) expense, net” in the consolidated statements of income.

The summary below represents the impairment charges recorded for various categories of assets during the years ended December 31, 2018, 2019 and 2020:

	Year ended December 31,
	2018		2019		2020
Technology related intangibles	$	3,065	$	3,511	$	5,179
Customer related intangibles		—		—		938
Total Intangibles	$	3,065	$	3,511	$	6,117
Property, plant and equipment		1,200		—		7,966
Total Property, plant and equipment	$	1,200	$	—	$	7,966
Grand Total	$	4,265	$	3,511	$	14,083

10. Goodwill and intangible assets (Continued)

The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:

For the year ending December 31:
2021	$	81,753
2022		53,705
2023		42,119
2024		24,003
2025 and beyond		13,791
	$	215,371

Other Assets

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Other Assets

11. Other Assets

Other assets consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Contract asset (Note 25)		21,176		6,770
Advance income and non-income taxes		93,277		155,035
Deposits		36,342		32,058
Derivative instruments		3,086		6,164
Prepaid expenses		6,003		5,176
Deferred billings, net^*		7,858		25,357
Others		15,853		43,175
Right of use (ROU) assets finance lease		33,484		50,083
	$	217,079	$	323,818

^*Deferred billings were $7,858 and $25,357, net of reserve for doubtful assets of $0 and allowance for credit losses of $3,134, as of December 31, 2019 and 2020, respectively. Total credit losses of $3,134 as of December 31, 2020 include $734 as a transition date adjustment through retained earnings pursuant to the adoption of ASC 326 and $2,400 as a current period charge.

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

12. Leases

The Company has leased buildings, vehicles, furniture and fixtures, leased lines, computer equipment and servers, and plants, machinery and equipment from various lessors. Certain lease agreements include options to terminate or extend the leases for up to 10 years. The lease agreements do not contain any material residual value guarantees or material restrictive covenants. The components of lease cost for operating and finance leases for the years ended December 31, 2019 and 2020 are summarized below:

	Year ended December 31, 2019			Year ended December 31, 2020
Finance lease cost:
Amortization of ROU assets (Note a)		9,302		12,483
Interest on lease liabilities (Note b)		2,997		2,454
Operating lease cost (Note c)		74,436		88,596
Short-term lease cost (Note c)		438		1,643
Variable lease cost (Note c)		4,052		5,347
Total lease cost	$	91,225	$	110,523

	a)	Included in “depreciation and amortization” in the consolidated statements of income.
	b)	Included in “interest income (expense), net” in the consolidated statements of income.
	c)	Included in “cost of revenue” and “selling, general and administrative expenses” in the consolidated statements of income.

ROU assets relating to finance leases of $33,484 and $50,083 as of December 31, 2019 and December 31, 2020, respectively, are included in “other assets.”

The operating lease cost set out above includes the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts amounting to $(105) and $161 for the years ended December 31, 2019 and 2020, respectively.

Amortization of ROU asset set out above includes the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts amounting to $(39) and $30 for the years ended December 31, 2019 and 2020, respectively.

Other information
	Year ended December 31, 2019	Year ended December 31, 2020

Weighted-average remaining lease term—finance leases	3.9 years	3.1 years
Weighted-average remaining lease term—operating leases	6.77 years	6.42 years
Weighted-average discount rate—finance leases	9.20%	6.61%
Weighted-average discount rate—operating leases	6.87%	7.28%

12. Leases (Continued)

	Year ended December 31, 2019		Year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$ 2,859	$	2,898
Operating cash flows from operating leases	$ 72,645	$	92,010
Financing cash flows from finance leases	$ 7,380	$	10,567

The following table reconciles the undiscounted cash flows for the Company’s finance and operating leases as of December 31, 2020 to the finance and operating lease liabilities recorded on the Company’s balance sheet:

Period range	Finance lease		Operating lease
2021		19,584		78,148
2022		17,165		75,288
2023		10,081		66,790
2024		3,876		56,013
2025		1,000		43,696
Thereafter		—		117,580
Total lease payments		51,706		437,515
Less: Imputed interest		2,682		91,673
Total lease liabilities	$	49,024	$	345,842

The following table reconciles the undiscounted cash flows for the Company’s finance and operating leases as of December 31, 2019 to the finance and operating lease liabilities recorded on the Company’s balance sheet:

Period range	Finance lease		Operating lease
2020		12,019		79,912
2021		8,765		74,736
2022		6,008		63,539
2023		4,506		57,742
2024		3,445		45,870
Thereafter		1,512		135,104
Total lease payments		36,255		456,903
Less: Imputed interest		5,790		97,139
Total lease liabilities	$	30,465	$	359,764

Rental expenses in agreements with rent holidays and scheduled rent increases are recorded on a straight-line basis over the applicable lease term. Rent expenses under cancellable and non-cancellable operating leases were $66,110 for the year ended December 31, 2018.

The rental expenses set out above include the effect of the reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts amounting to $(195) for the year ended December 31, 2018.

During the year ended December 31, 2020, the Company recorded an impairment charge of $16,322 relating to operating lease right-of-use assets due to the Company’s shift to virtual operating environment. There was no such impairment charge during the year ended December 31, 2019. Of the total impairment charge recorded in year ended December 31, 2020, $8,482 pertains to restructuring charges. See Note 29 for additional details.

Accrued expenses and other current liabilities

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Accrued expenses and other current liabilities

13. Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Accrued expenses	$	178,845	$	150,390
Accrued employee cost		274,000		286,399
Earn-out consideration		6,384		2,651
Statutory liabilities		62,786		104,768
Retirement benefits		1,333		1,967
Compensated absences		26,116		28,635
Derivative instruments		6,966		20,172
Contract liabilities (Note 25)		97,313		154,717
Finance lease liability		9,740		18,066
Others		20,388		39,004
	$	683,871	$	806,769

Long-term debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Long-term debt

14. Long-term debt

In August 2018, the Company amended its 2015 credit facility (“the 2015 Facility”), which was comprised of an $800,000 term loan and a $350,000 revolving credit facility. The amended facility is comprised of a $680,000 term loan, which represents the outstanding balance under the 2015 Facility as of the date of amendment, and a $500,000 revolving credit facility. The amended facility expires on August 8, 2023. The amendment did not result in a substantial modification of $550,814 of the outstanding term loan under the 2015 Facility. Further, as a result of the amendment, the Company extinguished the outstanding term loan under the 2015 Facility of $129,186 and obtained additional funding of $129,186, resulting in no change to the outstanding principal of the term loan under the amended facility. In connection with the amendment, the Company expensed $2,029, representing partial acceleration of the amortization of the existing unamortized debt issuance costs and an additional fee paid to the Company’s lenders related to the term loan. The overall borrowing capacity under the revolving credit facility increased from $350,000 to $500,000. The amendment of the revolving credit facility resulted in accelerated amortization of $82 relating to existing unamortized debt issuance cost. The remaining unamortized costs and an additional third party fee paid in connection with the amendment will be amortized over the term of the amended facility, which will expire on August 8, 2023.

Borrowings under the amended credit facility bear interest at a rate equal to, at the election of the Company, either LIBOR plus an applicable margin equal to 1.375% per annum, compared to a margin of 1.50% under the 2015 Facility, or a base rate plus an applicable margin equal to 0.375% per annum, compared to a margin of 0.50% under the 2015 Facility, in each case subject to adjustment based on the Company’s debt ratings provided by Standard & Poor’s Rating Services and Moody’s Investors Service, Inc. Based on the Company’s election and current credit rating, the applicable interest rate is equal to LIBOR plus 1.375% per annum. The amended credit agreement restricts certain payments, including dividend payments, if there is an event of default under the amended credit agreement or if the Company is not, or after making the payment would not be, in compliance with certain financial covenants contained in the amended credit agreement, including maintenance of a net debt to EBITDA leverage ratio of below 3x and an interest coverage ratio of more than 3x. During the year ended December 31, 2020, the Company was in compliance with the terms of the amended credit agreement, including all of the financial covenants therein. The Company’s retained earnings are not subject to any restrictions on availability to make dividend payments to shareholders, subject to compliance with the financial covenants described above.

As of December 31, 2019 and 2020, the amount outstanding under the term loan, net of debt amortization expense of $1,641 and $1,150, was $627,359 and $593,850, respectively. As of December 31, 2019 and 2020, the term loan bore interest at a rate equal to LIBOR plus a margin of 1.375% per annum. Indebtedness under the amended facility is unsecured. The amount outstanding on the term loan as of December 31, 2020 requires quarterly payments of $8,500, and the balance of the loan is due and payable upon the maturity of the term loan on August 8, 2023.

14. Long-term debt (Continued)

The maturity profile of the term loan outstanding as of December 31, 2020, net of debt amortization expense, is as follows:

Year ended	Amount
2021	$	33,537
2022		33,564
2023		526,749
Total	$	593,850

Genpact Luxembourg S.à.r.l. (the “Issuer”), a wholly owned subsidiary of the Company, issued $350,000 aggregate principal amount of 3.70% senior notes in March 2017 (the “2017 Senior Notes”), and $400,000 aggregate principal amount of 3.375% senior notes in November 2019 (the “2019 Senior Notes” and together with the 2017 Senior Notes, the “Senior Notes”). The Senior Notes are fully guaranteed by the Company. The total debt issuance cost of $2,642 and $2,937 incurred in connection with the 2017 Senior Notes and 2019 Senior Notes offerings, respectively, are being amortized over the lives of the Senior Notes as an additional interest expense. As of December 31, 2019 and 2020, the amount outstanding under the 2017 Senior Notes, net of debt amortization expense of $1,186 and $658, respectively, was $348,814 and $349,342, respectively, which is payable on April 1, 2022. As of December 31, 2019 and 2020, the amount outstanding under the 2019 Senior Notes, net of debt amortization expense of $2,868 and $2,284, was $397,132 and $397,716, respectively, which is payable on December 1, 2024. The Issuer will pay interest on the 2017 Senior Notes semi-annually in arrears on April 1 and October 1 of each year and on the 2019 Senior Notes semi-annually in arrears on June 1 and December 1 of each year, ending on the maturity dates of April 1, 2022 and December 1, 2024, respectively. The Company, at its option, may redeem the Senior Notes at any time in whole or in part, at a redemption price equal to (i) 100% of the principal amount of the notes redeemed, together with accrued and unpaid interest on the redeemed amount, and (ii) if the notes are redeemed prior to, in the case of the 2017 Senior Notes, March 1, 2022, and in the case of the 2019 Senior Notes, November 1, 2024, a specified “make-whole” premium. The Senior Notes are subject to certain customary covenants, including limitations on the ability of the Company and certain of its subsidiaries to incur debt secured by liens, engage in certain sale and leaseback transactions and consolidate, merge, convey or transfer their assets. During the year ended December 31, 2020, the Company and its applicable subsidiaries were in compliance with the covenants. Upon certain change of control transactions, the Issuer will be required to make an offer to repurchase the notes at a price equal to 101% of the aggregate principal amount of such notes, plus accrued and unpaid interest. The interest rate payable on the notes is subject to adjustment if the credit rating of the notes is downgraded, up to a maximum increase of 2.0%.

14. Long-term debt (Continued)

A summary of the Company’s long-term debt is as follows:

	As of December 31,
	2019		2020
Credit facility, net of amortization expenses	$	627,359	$	593,850
3.70% Senior Notes, net of debt amortization expenses		348,814		349,342
3.375% Senior Notes, net of debt amortization expenses		397,132		397,716
	$	1,373,305	$	1,340,908
Current portion		33,509		33,537
Non-current portion		1,339,796		1,307,371
Total	$	1,373,305	$	1,340,908

Short-term borrowings

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Short-term borrowings

15. Short-term borrowings

The Company has the following borrowing facilities:

(a)

Fund-based and non-fund-based credit facilities with banks, which are available for operational requirements in the form of overdrafts, letters of credit, guarantees and short-term loans. As of December 31, 2019 and 2020, the limits available were $14,307 and $14,311, respectively, of which $7,486 and $7,809 was utilized, constituting non-funded drawdown.

(b)

A fund-based and non-fund based revolving credit facility of $500,000, which the Company obtained through an amendment of its existing credit agreement on August 9, 2018, as described in note 14. Prior to the amendment, the Company’s revolving credit facility was $350,000. The amended credit facility expires on August 8, 2023. The funded drawdown amount under the Company’s revolving facilities bore interest at a rate equal to LIBOR plus a margin of 1.375% as of December 31, 2019 and December 31, 2020. The unutilized amount on the revolving facilities bore a commitment fee of 0.20% as of December 31, 2019 and 2020. As of December 31, 2019 and 2020, a total of $72,098 and $252,347, respectively, was utilized, of which $70,000 and $250,000, respectively, constituted funded drawdown and $2,098 and $2,347, respectively, constituted non-funded drawdown. The Company’s amended credit agreement contains certain customary covenants, including a maximum leverage covenant and a minimum interest coverage ratio. During the year ended December 31, 2020, the Company was in compliance with the financial covenants of the credit agreement.

Other liabilities

12 Months Ended

Dec. 31, 2020

Other Liabilities Disclosure [Abstract]

Other liabilities

16. Other liabilities

Other liabilities consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Accrued employee cost	$	8,824	$	19,797
Earn-out consideration		15,800		5,621
Retirement benefits		13,067		11,947
Compensated absences		35,029		47,656
Derivative instruments		17,273		20,809
Contract liabilities (Note 25)		78,613		68,760
Finance lease liability		20,725		30,958
Others		19,585		32,850
	$	208,916	$	238,398

Employee benefit plans

12 Months Ended

Dec. 31, 2020

Compensation And Retirement Disclosure [Abstract]

Employee benefit plans

17. Employee benefit plans

The Company has employee benefit plans in the form of certain statutory and other programs covering its employees.

Defined benefit plans

In accordance with Indian law, the Company provides a defined benefit retirement plan (the “Gratuity Plan”) covering substantially all of its Indian employees. The Gratuity Plan provides a lump-sum payment to vested employees upon retirement or termination of employment in an amount based on each employee’s salary and duration of employment with the Company. The Gratuity Plan benefit cost for the year is calculated on an actuarial basis. The Company contributes the required funding for all ascertained liabilities to the Gratuity Plan. Trustees administer contributions made to the trust, and contributions are invested in specific designated instruments as permitted by Indian law. The Company’s overall investment strategy is to invest predominantly in fixed income funds managed by asset management companies and a small portion in equity funds. These funds further invest in debt securities such as money market instruments, government securities and public and private bonds. During the years ended December 31, 2018, 2019 and 2020, all of the plan assets were primarily invested in debt securities.

In addition, in accordance with Mexican law, the Company provides certain termination benefits (the “Mexican Plan”) to all of its Mexican employees based on the age, duration of service and salary of each eligible employee. The full-year benefit cost of the Mexican Plan is calculated on an actuarial basis.

In addition, certain of the Company’s subsidiaries organized or operating in the Philippines and Japan have sponsored defined benefit retirement programs (respectively, the “Philippines Plan” and the “Japan Plan”). The full-year benefit costs of the Philippines Plan and the Japan Plan are calculated on an actuarial basis. Company contributions in respect of these plans are made to insurer-managed funds or to a trust. The trust contributions are further invested in government bonds.

In addition, in accordance with Israeli law, the Company provides certain termination benefits (the “Israeli Plan”) to all of its Israeli employees based on the age, duration of service and salary of each eligible employee. The full-year benefit cost of the Israeli Plan is calculated on an actuarial basis.

Current service costs for defined benefit plans are accrued in the year to which they relate on a monthly basis. Actuarial gains or losses, or prior service costs, if any, resulting from amendments to the plans are recognized and amortized over the remaining period of service of the employees or over the average remaining life expectancies for inactive employees if most of the plan obligations are payable to inactive employees.

17. Employee benefit plans (Continued)

The following table sets forth the funded status of the Company’s defined benefit plans and the amounts recognized in the Company’s financial statements based on actuarial valuations carried out as of December 31, 2019 and 2020.

	As of December 31,
	2019			2020
Change in benefit obligation
Projected benefit obligation at the beginning of the year	$	61,448		$	80,561
Service cost		8,915			11,897
Actuarial loss		12,323			6,843
Interest cost		4,667			5,297
Liabilities assumed on acquisition/ transfer of employees		96			180
Benefits paid		(7,043	)		(6,388	)
Plan Amendments		(405	)		—
Effect of exchange rate changes		560			(730	)
Projected benefit obligation at the end of the year	$	80,561		$	97,660
Change in fair value of plan assets
Fair value of plan assets at the beginning of the year	$	39,683		$	70,900
Employer contributions		35,459			24,523
Actual gain on plan assets		3,258			5,724
Actuarial gain/(loss)		387			(354	)
Benefits paid		(7,379	)		(6,287	)
Effect of exchange rate changes		(508	)		(697	)
Fair value of plan assets at the end of the year	$	70,900		$	93,809
Funded status, end of year	$	(9,661	)	$	(3,851	)
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)	$	4,739		$	10,063
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)		(1,333	)		(1,967	)
Non-current liabilities (recorded under other liabilities- retirement benefits)	$	(13,067	)	$	(11,947	)
Funded status, end of year	$	(9,661	)	$	(3,851	)

The change in defined benefit obligation for the years ended December 31, 2019 and 2020 is largely due to changes in actuarial assumptions pertaining to discount rates.

Amounts included in accumulated other comprehensive income (loss) as of December 31, 2018, 2019 and 2020 were as follows:

	As of December 31,
	2018			2019			2020
Net actuarial loss	$	(11,037	)	$	(21,490	)	$	(24,669	)
Net prior service credit / (cost)		(967	)		(717	)		(477	)
Deferred tax assets		3,451			6,171			7,065
Other comprehensive income (loss), net	$	(8,553	)	$	(16,036	)	$	(18,081	)

17. Employee benefit plans (Continued)

Changes in other comprehensive income (loss) during the year ended December 31, 2019 and 2020 were as follows:

	For the year ended December 31,
	2019			2020
Net Actuarial loss	$	(11,283	)	$	(5,891	)
Amortization of net actuarial loss		1,150			2,242
Deferred income taxes		2,720			894
Net prior service credit / (cost)		436			219
Effect of exchange rate changes		435			491
Other comprehensive income (loss), net	$	(6,542	)	$	(2,045	)

Funded status for defined benefit plans

The accumulated benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2019 and 2020 was as follows:

	As of December 31,
	2019		2020
Accumulated benefit obligation	$	17,631	$	15,441
Fair value of plan assets at the end of the year	$	6,023	$	5,446

The projected benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2019 and 2020 was

as follows:

	As of December 31,
	2019		2020
Projected benefit obligation	$	21,659	$	23,090
Fair value of plan assets at the end of the year	$	7,259	$	9,176

The amount of net projected benefit obligation and plan assets for all underfunded (including unfunded) defined benefit obligation plans was $14,400 and $13,914 as of December 31, 2019 and 2020, respectively, and was classified as liabilities in the consolidated balance sheets.

Net defined benefit plan costs for the years ended December 31, 2018, 2019 and 2020 include the following components:

	Year ended December 31,
	2018			2019			2020
Service costs	$	7,833		$	8,915		$	11,897
Interest costs		3,822			4,667			5,297
Amortization of actuarial loss		806			1,384			2,461
Expected return on plan assets		(2,435	)		(2,605	)		(4,589	)
One-time cost		—			202			—
Net defined benefit plan costs	$	10,026		$	12,563		$	15,066

17. Employee benefit plans (Continued)

Expected Contributions

The Company estimates that it will pay $9,928 in fiscal 2021 related to contributions to defined benefit plans.

The weighted average assumptions used to determine the benefit obligations of the Gratuity Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019	2020
Discount rate	6.80%-7.35%	4.45%-5.90%
Rate of increase in compensation per annum	5.20%-11.50%	5.20%-9.00%

The weighted average assumptions used to determine the Gratuity Plan costs for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018	2019	2020
Discount rate	7.40% - 7.60%	8.30%-8.40%	6.80%-7.35%
Rate of increase in compensation per annum	5.20% - 11.00%	5.20%-11.00%	5.20-11.50%
Expected long-term rate of return on plan assets per annum	7.50%	7.50%	7.50%

The weighted average assumptions used to determine the benefit obligations of the Mexican Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019			2020
Discount rate		7.60	%		7.20	%
Rate of increase in compensation per annum		5.50	%		5.50	%

17. Employee benefit plans (Continued)

The weighted average assumptions used to determine the costs of the Mexican Plan for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018			2019			2020
Discount rate		7.60	%		9.40	%		7.60	%
Rate of increase in compensation per annum		5.50	%		5.50	%		5.50	%

The weighted average assumptions used to determine the benefit obligations of the Philippines Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019	2020
Discount rate	5.22%	5.26%
Rate of increase in compensation per annum	6.00%	5.00%

The weighted average assumptions used to determine the costs of the Philippines Plan for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018	2019	2020
Discount rate	5.97%	7.53%	5.22%
Rate of increase in compensation per annum	8.00%	6.00%	6.00%
Expected long-term rate of return on plan assets per annum	4.00%	1.00%	2.40%

The weighted average assumptions used to determine the benefit obligation of the Japan Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019	2020
Discount rate	0.094%-0.271%	0.17% -0.41%
Rate of increase in compensation per annum	0.00%	0.00%

The weighted average assumptions used to determine the costs of the Japan Plan for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018	2019	2020
Discount rate	0.113%-0.789%	0.076%-0.269%	0.094%-0.271%
Rate of increase in compensation per annum	0.00% - 3.55%	0.00%	0.00%
Expected long-term rate of return on plan assets per annum	0.00%-1.84%	0.00%-1.77%	0.00%-1.77%

The expected returns on plan assets set forth above are based on the Company’s expectation of the average long-term rate of return expected to prevail over the next 15 to 20 years on the types of investments prescribed by applicable statute.

The Company evaluates these assumptions based on projections of the Company’s long-term growth and prevalent industry standards. Unrecognized actuarial loss is amortized over the average remaining service period of the active employees expected to receive benefits under the plan.

17. Employee benefit plans (Continued)

Investment and Risk management strategy

The overall investment objective of the Company’s defined benefit plans is to match the duration of the plans’ assets to the plans’ liabilities while managing risk in order to meet defined benefit obligations. The plans’ future prospects, their current financial conditions, our current funding levels and other relevant factors suggest that the plans can tolerate some interim fluctuations in market value and rates of return in order to achieve long-term objectives without undue risk to the plans’ ability to meet their current benefit obligations.

Plan investments are exposed to risks including market, interest rate and operating risk. In order to mitigate significant concentrations of these risks, the assets are invested in a diversified portfolio primarily consisting of fixed income instruments, liquid assets, equities and debt.

The fair values of the Company’s plan assets as of December 31, 2019 and 2020 by asset category are as follows:


	As of December 31, 2020
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Asset category
Equity	$	—	$	—	$	—		$	—
Cash		21,707		21,707		—			—
Fixed income securities (Note a)		63,444		9,611		53,833			—
Other securities (Note b)		8,658		4,423		4,235			—
Total	$	93,809	$	35,741	$	58,068		$	—


	As of December 31, 2019
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets			Significant Other Observable Inputs			Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)			(Level 3)
Asset category
Equity	$	12	$	12		$	—		$	—
Cash		11,001		11,001			—			—
Fixed income securities (Note a)		55,821		3,732			52,089			—
Other securities (Note b)		4,066		2,630			1,436			—
Total	$	70,900	$	17,375		$	53,525		$	—

(a)	Includes investments in funds that invest 100% of their assets in fixed income securities such as money market instruments, government securities and public and private bonds.

(b)	Includes investments in funds that invest primarily in fixed income securities and the remaining portion in equity securities.

17. Employee benefit plans (Continued)

The expected benefit plan payments set forth below reflect expected future service:

Year ending December 31,
2021	$	12,718
2022		12,290
2023		13,879
2024		15,018
2025		15,173
2026 - 2030		80,012
	$	149,090

The Company’s expected benefit plan payments are based on the same assumptions that were used to measure the Company’s benefit obligations as of December 31, 2020.

Defined contribution plans

During the years ended December 31, 2018, 2019 and 2020, the Company contributed the following amounts to defined contribution plans in various jurisdictions:

	Year ended December 31,
	2018		2019		2020
India	$	23,877	$	29,729	$	30,396
U.S.		13,454		19,401		19,491
U.K.		9,619		12,312		11,543
China		17,625		18,819		17,361
Other regions		4,772		8,177		10,427
Total	$	69,347	$	88,438	$	89,218

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 the Company’s executive 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 (50% vesting on the one-year anniversary of approval of the contribution and 50% vesting on the second year anniversary of approval of the contribution) or such other vesting schedule as determined by the Company. However, no such contributions have been made by the Company to date.

The Plan also provides an option for participants to elect to receive deferred compensation and earnings thereon on either fixed date(s) no earlier than two years following the applicable Plan year (or end of the applicable performance period for performance-based bonus compensation) or following a separation from service, in each case either in a lump sum or in annual installments over a term of up to 15 years. Each Plan participant’s compensation deferrals and discretionary supplemental employer contributions (if any) are credited or debited with notional investment gains and losses equal to the performance of selected hypothetical investment funds offered under the Plan and elected by the participant.

The Company has investments in funds held in Company-owned life insurance policies which are held in a Rabbi Trust that are classified as trading securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date. The securities are classified as trading securities because they are held for resale in anticipation of short-term fluctuations in market prices. The trading securities are stated at fair value.

17. Employee benefit plans (Continued)

The liability for the deferred compensation plan was $10,943 and $26,390 as of December 31, 2019 and 2020, respectively, and is included in “accrued expenses and other current liabilities” and “other liabilities” in the consolidated balance sheets.

In connection with the administration of the Plan, the Company has purchased company-owned life insurance policies insuring the lives of certain employees. The cash surrender value of these policies was $11,208 and $26,832 as of December 31, 2019 and 2020, respectively. The cash surrender value of these insurance policies is included in “other assets” in the consolidated balance sheets.

During the years ended December 31, 2019 and 2020, the change in the fair value of Plan assets was $1,296 and $4,164, respectively, which is included in “other income (expense), net,” in the consolidated statements of income. During the years ended December 31, 2019 and 2020, the change in the fair value of deferred compensation liabilities was $1,062 and $4,120, respectively, which is included in “selling, general and administrative expenses.”

The entire disclosure for retirement benefits.

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Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-based compensation

12 Months Ended

Dec. 31, 2020

Stock-based compensation

18. Stock-based compensation

The Company has granted stock-based awards under the Genpact Limited 2007 Omnibus Incentive Compensation Plan (the “2007 Omnibus Plan”) and the Genpact Limited 2017 Omnibus Incentive Compensation Plan (the “2017 Omnibus Plan”) to eligible persons, including employees, directors and certain other persons associated with the Company.

A brief summary of each plan is provided below:

2007 Omnibus Plan

The Company adopted the 2007 Omnibus Plan on July 13, 2007 and amended and restated it on April 11, 2012. The 2007 Omnibus Plan provided for the grant of awards intended to qualify as incentive stock options, non-qualified stock options, share appreciation rights, restricted share awards, restricted share units, performance units, cash incentive awards and other equity-based or equity-related awards. Under the 2007 Omnibus Plan, the Company was authorized to grant awards for the issuance of up to a total of 23,858,823 common shares.

2017 Omnibus Plan

On May 9, 2017, the Company’s shareholders approved the adoption of the Genpact Limited 2017 Omnibus Incentive Compensation Plan (the “2017 Omnibus Plan”), pursuant to which 15,000,000 Company common shares are available for issuance. The 2017 Omnibus Plan was amended and restated on April 5, 2019 to increase the number of common shares authorized for issuance by 8,000,000 shares to 23,000,000 shares. No grants may be made under the 2007 Omnibus Plan after the date of adoption of the 2017 Omnibus Plan. Grants that were outstanding under the 2007 Omnibus Plan as of the Company’s adoption of the 2017 Omnibus Plan remain subject to the terms of the 2007 Omnibus Plan.

Stock-based compensation costs relating to the foregoing plans during the years ended December 31, 2018, 2019 and 2020, were $48,196, $82,802 and $72,709, respectively, and have been allocated to cost of revenue and selling, general and administrative expenses.

Income tax benefits recognized in relation to stock-based compensation charges, including options, RSUs and PUs, including excess tax benefits, during the years ended December 31, 2018, 2019 and 2020 were $11,783, $18,921 and $21,832, respectively.

Stock options

All options granted under the 2007 and 2017 Omnibus Plans are exercisable into common shares of the Company, have a contractual period of ten years and vest over four to five years unless specified otherwise in the applicable award agreement. The Company recognizes compensation cost over the vesting period of the option.

18. Stock-based compensation (Continued)

Compensation cost is determined at the date of grant by estimating the fair value of an option using the Black-Scholes option-pricing model.

The following table shows the significant assumptions used in connection with the determination of the fair value of options granted in 2018, 2019 and 2020:

	2018	2019	2020
Dividend yield	0.95%-1.01%	0.82%-1.08%	0.89%
Expected life (in months)	84	84	84
Risk-free rate of interest for expected life	2.67% - 2.93%	1.56%- 2.63%	1.50%
Volatility	22.55% -22.73%	21.0%- 21.38%	20.96%

Volatility was calculated based on the historical volatility of the Company’s share price during a period equivalent to the estimated term of the option. The Company estimates the expected term of an option using the “simplified method,” which is based on the average of its contractual vesting term. The risk-free interest rate that the Company uses in the option valuation model is based on U.S. Treasury bonds with a term similar to the expected term of the options. The Company paid cash dividends of $0.085 and $0.0975 per share in each quarter of fiscal 2019 and 2020, respectively.

The Company has issued, and intends to continue to issue, new common shares upon stock option exercises and the vesting of share awards under its equity-based incentive compensation plans.

A summary of stock option activity during the years ended December 31, 2018, 2019 and 2020 is set out below:

	Year ended December 31, 2018
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding as of January 1, 2018		5,134,645	$	19.52		5.6	$	—
Granted		2,638,106		30.47		—		—
Forfeited		(70,000)		27.65		—		—
Expired		—		—		—		—
Exercised		(441,076)		16.46		—		6,731
Outstanding as of December 31, 2018		7,261,675	$	23.61		6.4	$	34,143
Vested as of December 31, 2018 and expected to vest thereafter (Note a)		7,107,605	$	23.50		6.4	$	33,997
Vested and exercisable as of December 31, 2018		3,313,570	$	17.69		3.7	$	30,806
Weighted average grant-date fair value of options granted during the period	$	8.32

18. Stock-based compensation (Continued)

	Year ended December 31, 2019
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding as of January 1, 2019		7,261,675	$	23.61		6.4	$	—
Granted		1,881,068		28.50		—		—
Forfeited		(85,000)		29.91		—		—
Expired		—		—		—		—
Exercised		(697,531)		15.33		—		18,724
Outstanding as of December 31, 2019		8,360,212	$	25.33		6.5	$	140,760
Vested as of December 31, 2019 and expected to vest thereafter (Note a)		8,006,985	$	25.18		6.5	$	136,017
Vested and exercisable as of December 31, 2019		3,111,039	$	19.16		3.4	$	71,584
Weighted average grant-date fair value of options granted during the period	$	6.98


	Year ended December 31, 2020
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding as of January 1, 2020		8,360,212	$	25.33		6.5	$	—
Granted		431,924		43.94		—		—
Forfeited		(752,261)		30.09		—		—
Expired		—		—		—		—
Exercised		(692,634)		20.30		—		11,813
Outstanding as of December 31, 2020		7,347,241	$	26.41		5.7	$	110,925
Vested as of December 31, 2020 and expected to vest thereafter (Note a)		7,132,162	$	26.26		5.7	$	108,671
Vested and exercisable as of December 31, 2020		2,713,405	$	19.40		2.6	$	59,593
Weighted average grant-date fair value of options granted during the period	$	9.72

(a)	Options expected to vest reflect an estimated forfeiture rate.

Cash received by the Company upon the exercise of stock options during the years ended December 31, 2018, 2019 and 2020 amounted to $10,772, $10,690 and $14,062, respectively. Tax benefits from the exercise of stock options during the years ended December 31, 2018, 2019 and 2020 were $2,473, $2,966 and $7,381 (including excess tax benefits of $2,131, $2,743 and $7,310), respectively.

As of December 31, 2020, the total remaining unrecognized stock-based compensation cost for options expected to vest amounted to $18,352, which will be recognized over the weighted average remaining requisite vesting period of 2.9 years.

Restricted Share Units

The Company has granted restricted share units, or RSUs, under the 2007 and 2017 Omnibus Plans. Each RSU represents the right to receive one common share. The fair value of each RSU is the market price of one common share of the Company on the date of grant. The RSUs granted to date have graded vesting schedules of three months to four years. The compensation expense is recognized on a straight-line basis over the vesting term.

18. Stock-based compensation (Continued)

A summary of RSU activity during the years ended December 31, 2018, 2019 and 2020 is set out below:

	Year ended December 31, 2018
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2018		1,605,251	$	26.17
Granted		484,427		30.13
Vested (Note b)		(358,697)		25.53
Forfeited		(201,982)		27.09
Outstanding as of December 31, 2018		1,528,999	$	27.45
Expected to vest (Note a)		1,360,048

	Year ended December 31, 2019
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2019		1,528,999	$	27.45
Granted		470,939		37.58
Vested (Note c)		(672,025)		26.84
Forfeited		(66,207)		30.43
Outstanding as of December 31, 2019		1,261,706	$	31.41
Expected to vest (Note a)		1,149,286
	Year ended December 31, 2020
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2020		1,261,706	$	31.41
Granted		296,332		40.40
Vested (Note d)		(640,212)		28.28
Forfeited		(57,518)		37.35
Outstanding as of December 31, 2020		860,308	$	36.44
Expected to vest (Note a)		762,877

(a)	RSUs expected to vest reflect an estimated forfeiture rate.

(b)

261,260 RSUs that vested during the period were net settled upon vesting by issuing 175,505 shares (net of minimum statutory tax withholding). 52,875 RSUs vested in the year ended December 31, 2017, 52,405 shares in respect of which were issued in 2019 after withholding shares to the extent of minimum statutory withholding taxes. 44,562 RSUs vested in the year ended December 31, 2018, shares in respect of which 44,165 shares were issued in 2020 after withholding shares to the extent of minimum statutory withholding taxes.

(c)

637,933 RSUs that vested during the period were net settled upon vesting by issuing 521,707 shares (net of minimum statutory tax withholding). 34,092 RSUs vested in the year ended December 31, 2019, shares in respect of which will be issued in 2021 after withholding shares to the extent of minimum statutory withholding taxes .

(d)

590,699 RSUs that vested during the period were net settled upon vesting by issuing 385,197 shares (net of minimum statutory tax withholding). 49,513 RSUs vested in the year ended December 31, 2020, shares in respect of which will be issued in 2021 after withholding shares to the extent of minimum statutory withholding taxes.

52,482 RSUs vested in the year ended December 31, 2016, 52,055 shares in respect of which were issued in 2018 after withholding shares to the extent of minimum statutory withholding taxes.

As of December 31, 2020, the total remaining unrecognized stock-based compensation cost related to RSUs amounted to $16,433, which will be recognized over the weighted average remaining requisite vesting period of 2.1 years.

18. Stock-based compensation (Continued)

Performance Units

The Company also grants stock awards in the form of performance units, or PUs, and has granted PUs under both the 2007 and 2017 Omnibus Plans.

Each PU represents the right to receive one common share at a future date based on the Company’s performance against specified targets. PUs granted to date have vesting schedules of six months to three years. The fair value of each PU is the market price of one common share of the Company on the date of grant and assumes that performance targets will be achieved. PUs granted under the plan are subject to cliff vesting. The compensation expense for such awards is recognized on a straight-line basis over the vesting term. During the performance period, the Company’s estimate of the number of shares to be issued is adjusted upward or downward based upon the probability of achievement of the performance targets. The ultimate number of shares issued and the related compensation cost recognized is based on a comparison of the final performance metrics to the specified targets.

A summary of PU activity during the years ended December 31, 2018, 2019 and 2020 is set out below:

	Year ended December 31, 2018
	Number of Performance Units		Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2018		2,900,940	$	24.40		2,900,940
Granted		1,682,740		30.62		3,365,480
Vested (Note b)		(1,087,751)		22.73		(1,087,751)
Forfeited		(258,237)		26.03		(305,737)
Adjustment upon final determination of level of performance goal achievement (Note c)		474,800		30.68
Adjustment upon final determination of level of performance goal achievement (Note d)						(1,160,530)
Outstanding as of December 31, 2018		3,712,402	$	28.40		3,712,402
Expected to vest (Note a)		3,261,069

18. Stock-based compensation (Continued)

	Year ended December 31, 2019
	Number of Performance Units		Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2019		3,712,402	$	28.40		3,712,402
Granted		1,579,109		34.68		3,158,218
Vested (Note e)		(3,276)		27.47		(3,276)
Forfeited		(248,031)		29.04		(278,755)
Adjustment upon final determination of level of performance goal achievement (Note f)		1,018,260		34.72
Adjustment upon final determination of level of performance goal achievement (Note g)						(530,125)
Outstanding as of December 31, 2019		6,058,464	$	31.07		6,058,464
Expected to vest (Note a)		5,507,640
	Year ended December 31, 2020
	Number of Performance Units		Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2020		6,058,464	$	31.07		6,058,464
Granted		1,253,766		42.49		2,507,532
Vested (Note h)		(1,496,377)		25.21		(1,496,377)
Forfeited		(539,670)		33.77		(560,867)
Adjustment upon final determination of level of performance goal achievement (Note i)		(399,987)		42.60
Adjustment upon final determination of level of performance goal achievement (Note j)						(1,632,556)
Outstanding as of December 31, 2020		4,876,196	$	34.56		4,876,196
Expected to vest (Note a)		4,573,356

(a)	PUs expected to vest are based on the probable achievement of the performance targets after considering an estimated forfeiture rate.

(b)	Vested PUs were net settled upon vesting by issuing 691,958 shares (net of minimum statutory tax withholding).

(c)

Represents a 28.77% increase in the number of target shares expected to vest as a result of achievement of higher-than-target performance for PUs granted in 2018, partially offset by an adjustment made in March 2018 to the number of shares subject to the PUs granted in 2017 upon certification of the level of achievement of the performance targets underlying such awards.

(d)

Represents the difference between the maximum number of shares achievable and the number of shares expected to vest under the PU awards granted in 2018 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2018 to the number of shares subject to the PUs granted in 2017 upon certification of the level of achievement of the performance targets underlying such awards.

(e)	Vested PUs were net settled upon vesting by issuing 2,151 shares (net of minimum statutory tax withholding).

(f)

Represents a 66.67% increase in the number of target shares expected to vest as a result of achievement of higher-than-target performance for PUs granted in 2019 partially offset by an adjustment made in March 2019 to the number of shares subject to the PUs granted in 2018 upon certification of the level of achievement of the performance targets underlying such awards.

(g)

Represents the difference between the maximum number of shares achievable and the number of shares expected to vest under the PU awards granted in 2019 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2019 to the number of shares subject to the PUs granted in 2018 upon certification of the level of achievement of the performance targets underlying such awards.

18. Stock-based compensation (Continued)

(h)	Vested PUs were net settled upon vesting by issuing 902,532 shares (net of minimum statutory tax withholding).

(i)

Represents a 32.98% decrease in the number of target shares expected to vest as a result of achievement of lower-than-target performance for PUs granted in 2020, partially offset by an adjustment made in March 2020 to the number of shares subject to the PUs granted in 2019 upon certification of the level of achievement of the performance targets underlying such awards.

(j)

Represents the difference between the maximum number of shares achievable and the number of shares expected to vest under the PU awards granted in 2020 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2020 to the number of shares subject to the PUs granted in 2019 upon certification of the level of achievement of the performance targets underlying such awards.

As of December 31, 2020, the total remaining unrecognized stock-based compensation cost related to PUs amounted to $51,014, which will be recognized over the weighted average remaining requisite vesting period of 1.5 years.

Employee Stock Purchase Plan (ESPP)

On May 1, 2008, the Company adopted the Genpact Limited U.S. Employee Stock Purchase Plan and the Genpact Limited International Employee Stock Purchase Plan (together, the “ESPP”). In April 2018, these plans were amended and restated, and their terms were extended to August 31, 2028.

The ESPP allows eligible employees to purchase the Company’s common shares through payroll deductions at 90% of the closing price of the Company’s common shares on the last business day of each purchase interval. The dollar amount of common shares purchased under the ESPP must not exceed 15% of the participating employee’s base salary, subject to a cap of $25 per employee per calendar year. With effect from September 1, 2009, the offering periods commence on the first business day in March, June, September and December of each year and end on the last business day of the subsequent May, August, November and February. 4,200,000 common shares have been reserved for issuance in the aggregate over the term of the ESPP.

During the years ended December 31, 2018, 2019 and 2020, 245,467, 264,440 and 315,245 common shares, respectively, were issued under the ESPP.

The ESPP is considered compensatory under FASB guidance on Compensation-Stock Compensation.

The compensation expense for the ESPP is recognized in accordance with the FASB guidance on Compensation—Stock Compensation. The compensation expense for the ESPP during the years ended December 31, 2018, 2019 and 2020 was $802, $1,083 and $1,299, respectively, and has been allocated to cost of revenue and selling, general and administrative expenses.

Capital stock

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Capital stock

19. Capital stock

The Company’s authorized capital stock as of December 31, 2019 and 2020 consisted of 500 million common shares with a par value of $0.01 per share, and 250 million preferred shares with a par value of $0.01 per share. There were 190,118,181 and 189,045,661 common shares, and no preferred shares, issued and outstanding as of December 31, 2019 and 2020, respectively.

Holders of common shares are entitled to one vote per share. Upon the liquidation, dissolution or winding up of the Company, common shareholders are entitled to receive a ratable share of the available net assets of the Company after payment of all debts and other liabilities. The common shares have no preemptive, subscription, redemption or conversion rights.

19. Capital stock (Continued)

The Company’s board of directors by resolution can establish one or more series of preferred shares having such par value, designations, dividend rates, relative voting rights, conversion or exchange rights, redemption rights, liquidation rights and other relative participation, optional or other rights, qualifications, limitations or restrictions as may be fixed by the board of directors without shareholder approval. Such rights, preferences, powers and limitations as may be established could also have the effect of discouraging an attempt to obtain control of the Company. These preferred shares are of the type commonly known as “blank-check” preferred shares.

Under Bermuda law, the Company may declare and pay dividends from time to time unless there are reasonable grounds for believing that the Company is or would, after the payment, be unable to pay its liabilities as they become due or that the realizable value of its assets would thereby be less than the aggregate of its liabilities, its issued share capital, and its share premium accounts. Under the Company’s bye-laws, each common share is entitled to dividends if, as and when dividends are declared by the Company’s board of directors. There are no restrictions in Bermuda on the Company’s ability to transfer funds (other than funds denominated in Bermuda dollars) in or out of Bermuda or to pay dividends to U.S. residents who are holders of common shares. The Company’s ability to declare and pay cash dividends is restricted by its debt covenants.

Share Repurchases

The Board of Directors of the Company (the “Board”) has authorized repurchases of up to $1,250,000 under the Company’s existing share repurchase program as of December 31, 2020. The Company’s share repurchase program does not obligate it to acquire any specific number of shares. Under the program, shares may be purchased in privately negotiated and/or open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended.

During the years ended December 31, 2018, 2019 and 2020, the Company repurchased 4,921,192, 766,154 and 3,412,293 of its common shares, respectively, on the open market at a weighted average price of $31.30, $39.16 and $40.16 per share, respectively, for an aggregate cash amount of $154,058, $30,000 and $137,044, respectively. In 2017, the Company entered into an accelerated share repurchase (“ASR”) agreement with Morgan Stanley & Co. LLC to repurchase Company common shares for an aggregate purchase price of $200,000. The Company received the delivery of 6,928,953 and 163,975 of its common shares under the ASR agreement during the years ended December 31, 2017 and 2018, respectively. The weighted average price per share of the common shares delivered was $28.20. All repurchased shares have been retired.

The Company records repurchases of its common shares on the settlement date of each transaction. Shares purchased and retired are deducted to the extent of their par value from common stock and from retained earnings for the excess over par value. Direct costs incurred to acquire the shares are included in the total cost of the shares purchased. For the years ended December 31, 2018, 2019 and 2020, $98, $15 and $68, respectively, was deducted from retained earnings in direct costs related to share repurchases.

$136,998 remained available for share repurchases under our existing share repurchase program as of December 31, 2020. This repurchase program does not obligate us to acquire any specific number of shares and does not specify an expiration date.

19. Capital stock (Continued)

Dividend

On February 12, 2018, the Company announced that its Board of Directors had approved a 25% increase in its quarterly cash dividend to $0.075 per share, up from $0.06 per share in 2017, representing an annual dividend of $0.30 per common share, up from $0.24 per share in 2017, payable to holders of the Company’s common shares. On March 21, 2018, June 20, 2018, September 19, 2018 and December 19, 2018, the Company paid dividends of $0.075 per share, amounting to $14,408, $14,240, $14,253 and $14,201 in the aggregate, to shareholders of record as of March 9, 2018, June 8, 2018, September 10, 2018 and December 10, 2018, respectively.

On February 7, 2019, the Company announced that its Board of Directors had approved a 13% increase in its quarterly cash dividend to $0.085 per share, up from $0.075 per share in 2018, representing an annual dividend of $0.34 per common share, up from $0.30 per share in 2018, payable to holders of the Company’s common shares. On March 20, 2019, June 21, 2019, September 20, 2019 and December 18, 2019, the Company paid dividends of $0.085 per share, amounting to $16,119, $16,188, $16,208 and $16,156 in the aggregate, to shareholders of record as of March 8, 2019, June 12, 2019, September 11, 2019 and December 9, 2019, respectively.

On February 6, 2020, the Company announced that its Board of Directors had approved a 15% increase in its quarterly cash dividend to $0.0975 per share, up from $0.085 per share in 2019, representing an annual dividend of $0.39 per common share, up from $0.34 per share in 2019, payable to holders of the Company’s common shares. On March 18, 2020, June 26, 2020, September 23, 2020 and December 23, 2020, the Company paid dividends of $0.0975 per share, amounting to $18,543, $18,595, $18,637 and $18,437 in the aggregate, to shareholders of record as of March 9, 2020, June 11, 2020, September 11, 2020 and December 9, 2020, respectively.

Earnings per share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Earnings per share

20. Earnings per share

The Company calculates earnings per share in accordance with FASB guidance on Earnings per Share. Basic and diluted earnings per common share give effect to the change in the number of common shares outstanding. The calculation of basic earnings per common share was determined by dividing net income available to common shareholders by the weighted average number of common shares outstanding. The potentially dilutive shares, consisting of outstanding options on common shares, restricted share units, common shares to be issued under the ESPP and performance units, have been included in the computation of diluted net earnings per share and number of weighted average shares outstanding, except where the result would be anti-dilutive.

The number of stock awards outstanding but not included in the computation of diluted earnings per common share because their effect was anti-dilutive is 2,410,230, 1,809,069 and 1,182,572 for the years ended December 31, 2018, 2019 and 2020, respectively.

	Year ended December 31,
	2018		2019		2020
Net income available to Genpact Limited common shareholders	$	282,019	$	304,881	$	308,276
Weighted average number of common shares used in computing basic earnings per common share		190,674,740		190,074,475		190,396,780
Dilutive effect of stock-based awards		3,305,298		5,086,380		5,384,191
Weighted average number of common shares used in computing dilutive earnings per common share		193,980,038		195,160,855		195,780,971
Earnings per common share attributable to Genpact Limited common shareholders
Basic	$	1.48	$	1.60	$	1.62
Diluted	$	1.45	$	1.56	$	1.57

Other operating (income) expense, net

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Other operating (income) expense, net

21. Other operating (income) expense, net

Other operating (income) expense, net consists of the following:

	Year ended December 31,
	2018			2019			2020
Write-down of intangible assets and property, plant and equipment*	$	4,265		$	3,511		$	14,083
Write-down of operating lease right-of-use assets and other assets**		—			—			18,084
Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions)		(5,655	)		—			(7,790	)
Other operating (income) expense^#		(455	)		(34,545	)		(5,046	)
Other operating (income) expense, net	$	(1,845	)	$	(31,034	)	$	19,331

* Refer to Notes 10 and 29 for additional information about other operating (income) expense, net for the year ended December 31, 2020.

** Of the total write-down, $10,244 pertains to restructuring charges for the year ended December 31, 2020. No such charges were recorded for the years ended December 31, 2018 and 2019. Refer to Notes 12 and 29 for additional details.

^#Includes gain of $31,380 for the year ended December 31, 2019 on land rights transferred to a third-party real estate developer in exchange for an interest in commercial property being developed on the land.

Interest income (expense), net

12 Months Ended

Dec. 31, 2020

Banking And Thrift Interest [Abstract]

Interest income (expense), net

22. Interest income (expense), net

Interest income (expense), net consists of the following:

	Year ended December 31,
	2018			2019			2020
Interest income	$	11,388		$	7,321		$	7,284
Interest expense		(48,507	)		(50,779	)		(56,244	)
Interest income (expense), net	$	(37,119	)	$	(43,458	)	$	(48,960	)

Income taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income taxes

23. Income taxes

Income tax expense (benefit) for the years ended December 31, 2018, 2019 and 2020 is allocated as follows:

	Year ended December 31,
	2018			2019			2020
Income from continuing operations	$	80,763		$	94,536		$	92,201
Other comprehensive income:
Unrealized gains (losses) on cash flow hedges		(6,647	)		(4,058	)		(3,327	)
Retirement benefits		(1,407	)		(2,720	)		(894	)
Retained earnings:
Reclassification from AOCI on early adoption of ASU 2018-02		2,265			—			—
Deferred tax expense recognized on adoption of ASU 2014-09		5,303			—			—
Deferred tax benefit recognized on adoption of ASU 2016-13		—			—			(935	)
Accumulated other comprehensive income:
Reclassification to retained earnings on early adoption of ASU 2018-02		(2,265	)		—			—

23. Income taxes (Continued)

The components of income before income tax expense from continuing operations are as follows:

	Year ended December 31,
	2018		2019		2020
Domestic (U.S.)	$	49,986	$	27,783	$	122,497
Foreign (other than U.S.)		312,035		371,634		277,980
Income before income tax expense	$	362,021	$	399,417	$	400,477

Income tax expense (benefit) attributable to income from continuing operations consists of:

	Year ended December 31,
	2018			2019			2020
Current tax expense:
Domestic (U.S. federal)	$	6,466		$	2,854		$	23,668
Domestic (U.S. state)		3,508			3,908			10,765
Foreign (other than U.S.)		64,735			104,089			80,355
	$	74,709		$	110,851		$	114,788
Deferred tax expense (benefit):
Domestic (U.S. federal)	$	6,577		$	2,669		$	(7,329	)
Domestic (U.S. state)		(1,176	)		(1,679	)		(3,770	)
Foreign (other than U.S.)		653			(17,305	)		(11,488	)
	$	6,054		$	(16,315	)	$	(22,587	)
Total income tax expense (benefit)	$	80,763		$	94,536		$	92,201

Income tax expense (benefit) attributable to income from continuing operations differed from the amounts computed by applying the U.S. federal statutory income tax rate of 21% to income before income taxes as a result of the following:

	Year ended December 31,
	2018			2019			2020
Income before income tax expense	$	362,021		$	399,417		$	400,477
Statutory tax rates		21	%		21	%		21	%
Computed expected income tax expense		76,024			83,878			84,100
Increase (decrease) in income taxes resulting from:
Foreign tax rate differential		23,373			34,566			16,295
Tax benefit from tax holiday		(23,003	)		(21,393	)		(16,063	)
Non-deductible expenses		3,245			2,152			372
Effect of change in tax rates		(147	)		6,497			453
Change in valuation allowance		27,826			10,515			142,733
Unrecognized tax benefits		3,008			5,502			3,228
Employment related tax incentive		(3,243	)		(5,239	)		—
Internal restructuring		(2,859	)		—			(129,688	)
State taxes		2,332			2,229			6,995
Excess tax benefit on share-based compensation		(2,131	)		(2,743	)		(7,310	)
Others*		(23,662	)		(21,428	)		(8,914	)
Reported income tax expense (benefit)	$	80,763		$	94,536		$	92,201
*Following the transfer/closure of certain affiliated entities, deferred tax liabilities recorded against the outside basis difference were reversed amounting to $18,510 and $3,782 during the years ended December 31, 2018 and 2019. Additionally, during the years ended December 31, 2019 and 2020, the Company created a deferred tax asset on the impairment of one of its intercompany investments for income tax purposes amounting to $8,069 and $8,384. It was not more likely than not that the resulting net deferred tax asset would be realized. Therefore, a full valuation allowance was established.

23. Income taxes (Continued)

A portion of the profits of the Company’s operations is exempt from income tax in India. One of the Company’s Indian subsidiaries has certain units eligible for a tax holiday as a special economic zone unit in respect of 100% of the export profits it generates for a period of 5 years from commencement, 50% of such profits for the next 5 years (year 6 to year 10 from commencement) and 50% of the profits for an additional period of 5 years (year 11 to year 15 from commencement), subject to the satisfaction of certain capital investment requirements. The tax holidays for the Company’s existing special economic zone units will begin to expire on March 31, 2022 and will have fully expired on March 31, 2035, assuming the Company satisfies the capital investment requirements.

During the year ended December 31, 2019, the Indian tax authorities introduced a new tax regime under which a Company can elect to pay taxes at a lower tax rate by forgoing certain deductions and exemptions, including SEZ exemptions. The Company currently expects to elect out of applicable Indian tax holidays to benefit from the reduced tax rate after March 31, 2021.

The effect of the Indian tax holiday on both basic and diluted earnings per share was $0.12, $0.11 and $0.08, respectively, for the years ended December 31, 2018, 2019 and 2020.

The components of the Company’s deferred tax balances as of December 31, 2019 and 2020 are as follows:

	As of December 31,
	2019			2020
Deferred tax assets
Net operating loss carryforwards	$	66,448		$	37,278
Accrued expenses and other liabilities		50,678			70,634
Provision for doubtful debts		10,583			9,930
Property, plant and equipment and right-of-use assets, net		11,569			14,394
Share-based compensation		30,192			35,424
Intangible assets, net		2,640			165,347
Retirement benefits		11,332			14,761
Contract liabilities		4,437			6,080
Tax credit carryforwards		10,739			8,692
Others		10,294			14,619
Gross deferred tax assets	$	208,912		$	377,159
Less: Valuation allowance		(62,628	)		(206,011	)
Total deferred tax assets	$	146,284		$	171,148
Deferred tax liabilities
Intangible assets, net	$	24,819		$	21,884
Property, plant and equipment, net		6,067			3,700
Deferred cost		2,665			1,178
Investments in foreign subsidiaries not indefinitely reinvested		1,401			2,726
Derivative instruments		2,722			2,810
Goodwill		11,793			18,649
Others		11,092			15,043
Total deferred tax liabilities	$	60,559		$	65,990
Net deferred tax asset	$	85,725		$	105,158

	As of December 31,
Classified as	2019		2020
Deferred tax assets non-current	$	89,715	$	106,674
Deferred tax liabilities non-current	$	3,990		1,516
	$	85,725	$	105,158

23. Income taxes (Continued)

The change in the Company’s total valuation allowance for deferred tax assets as of December 31, 2018, 2019 and 2020 is as follows:

	Year ended December 31,
	2018			2019			2020
Opening valuation allowance	$	24,549		$	51,986		$	62,628
Reduction during the year		(2,307	)		(4,240	)		(35,662	)
Addition during the year		29,744			14,882			179,045
Closing valuation allowance	$	51,986		$	62,628		$	206,011

During the year ended December 31, 2020, the Company undertook an internal restructuring that involved the transfer of certain marketing intangibles between its Luxembourg subsidiaries for a total of $650,000. The Company had net operating loss carryforwards with a full valuation allowance from prior years that were used to offset the Luxembourg taxable income arising from such transfer. The tax benefits resulting from the step-up of the tax basis of the intangibles transferred are not expected to be realized and a full valuation allowance has been recorded to reduce the deferred tax balances. Accordingly, this internal restructuring did not have any impact on the Company’s income tax expense.

In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets depends on the generation of future taxable income during the periods in which temporary differences are deductible.

Management considers the scheduled reversal of deferred tax liabilities and projected taxable income in making this assessment. In order to fully realize a deferred tax asset, the Company must generate future taxable income prior to the expiration of the deferred tax asset under applicable law. Based on the level of historical taxable income and projections for future taxable income over the periods during which the Company’s deferred tax assets are deductible, management believes that it is more likely than not that the Company will realize the benefits of its deductible differences and carryforwards, net of the existing valuation allowances as of December 31, 2020. The amount of the Company’s deferred tax assets considered realizable, however, could be reduced in the near term if estimates of future taxable income during the carry-forward period are reduced.

For the years ended December 31, 2018, 2019 and 2020, the Company recognized net excess tax benefits on share-based compensation of $2,131, $2,743 and $7,310, respectively, in income tax expense attributable to continuing operations.

As of December 31, 2020, the Company’s deferred tax assets related to net operating loss carryforwards of $143,521 amounted to $33,551 (excluding state net operating losses). Net operating losses of subsidiaries in the United Kingdom, Israel, South Africa, Hong Kong, Germany, Austria, the United States (for 2019) and Luxembourg (for 2016 and prior years) amounted to $53,881 and can be carried forward for an indefinite period.

23. Income taxes (Continued)

The Company’s remaining operating loss carryforwards expire as set forth in the table below:

	US - Federal		Europe		Others
Year ending December 31,
2021		—		673		544
2022		—		2,575		305
2023		—		727		1,199
2024		—		1,381		2,534
2025		—		4,955		1
2034		—		18,820		—
2035		—		7,357		—
2036		—		48,086		—
2037		222		—		—
2040		—		—		261
	$	222	$	84,574	$	4,844

In the table above, “Europe” includes net operating losses of subsidiaries in Poland, the Czech Republic, Hungary, Slovakia, Latvia, Luxembourg and Portugal, while “Others” includes net operating losses of subsidiaries in Japan, Philippines, China and Canada.

As of December 31, 2020, the Company had additional deferred tax assets for U.S. state and local tax loss carryforwards amounting to $3,727 with varying expiration periods, most of which are between 2021 and 2039.

As of December 31, 2020, the Company had a total foreign tax credit carryforward of $8,692 for subsidiaries in the United States, India and the Philippines, which will expire as set forth in the table below:

Year ending December 31,	Amount
2021	$	132
2029		90
2033		4,846
2034		3,300
2035		324
	$	8,692

With exceptions, the Company has not accrued any income, distribution or withholding taxes that would arise if the undistributed earnings of the Company’s foreign (non-Bermuda) subsidiaries that cannot be repatriated in a tax-free manner were to be repatriated. Due to the Company’s changing corporate structure, the various methods that are available to repatriate earnings and uncertainty relative to the applicable taxes at the time of repatriation, it is not practicable to determine the amount of tax that would be imposed upon repatriation. If undistributed earnings are repatriated in the future, or are no longer deemed to be indefinitely reinvested, the Company will accrue the applicable amount of taxes associated with such earnings at that time.

As of December 31, 2020, $666,054 of the Company’s $680,440 in cash and cash equivalents was held by the Company’s foreign (non-Bermuda) subsidiaries. $12,220 of this cash is held by foreign subsidiaries for which the Company expects to incur and has accrued a deferred tax liability on the repatriation of $16,400 of retained earnings. $653,834 of the Company’s cash and cash equivalents is either held as retained earnings by foreign subsidiaries in jurisdictions where no tax is expected to be imposed upon repatriation or is being indefinitely reinvested.

The Company reports its gain/loss on derivatives designated as cash flow hedges, actuarial gain/loss on retirement benefits and currency translation adjustment, net of income taxes to the extent applicable, in AOCI.

23. Income taxes (Continued)

In the quarter ended March 31, 2018, the Company elected to early adopt ASU 2018-02, effective January 1, 2018, and made an election to reclassify the stranded income tax effects of the Tax Cuts and Jobs Act (the “Tax Act’’) from AOCI to retained earnings for all items of AOCI. The Company elected to adopt the new guidance at the beginning of 2018. Accordingly, a stranded tax effect in AOCI of $2,265 resulting from the Tax Act has been adjusted through retained earnings.

In June 2016, the FASB issued ASU No. 2016-13, requiring measurement and recognition of expected credit losses for financial assets held by the Company. In the quarter ended March 31, 2020, the Company adopted this ASU, effective January 1, 2020, and accordingly recorded deferred tax assets of $935 through retained earnings.

The following table summarizes activities related to our unrecognized tax benefits from January 1 to December 31 for each of 2019 and 2020:

	2019			2020
Opening balance at January 1	$	26,722		$	31,029
Increase related to prior year tax positions, including recorded in acquisition accounting		1,684			2,875
Decrease related to prior year tax positions		(1,232	)		(1,309	)
Decrease related to prior year tax position due to lapse of applicable statute of limitation		(135	)		(287	)
Increase related to current year tax positions, including recorded in acquisition accounting		4,270			2,454
Decrease related to settlements with tax authorities		—			(317	)
Effect of exchange rate changes		(280	)		(145	)
Closing balance at December 31	$	31,029		$	34,300

As of December 31, 2019 and 2020, the Company had unrecognized tax benefits amounting to $29,835 and $34,300, respectively, which, if recognized, would impact the effective tax rate.

As of December 31, 2019 and 2020, the Company had accrued $5,812 and $6,369, respectively, in interest and $1,048 and $900, respectively, for penalties relating to unrecognized tax benefits.

During the years ended December 31, 2018, 2019 and 2020, the Company recognized $467, $826 and $662, respectively, in interest on unrecognized tax benefits.

In the next twelve months and for all tax years that remain open to examinations by U.S. federal and various state, local, and other U.S. tax authorities, the Company estimates that it is reasonably possible that the total amount of its unrecognized tax benefits will vary. However, the Company does not expect significant changes within the next twelve months other than depending on the progress of tax matters or examinations with various tax authorities, which are difficult to predict.

With certain immaterial exceptions, the Company is no longer subject to U.S. federal, state and local or other U.S. income tax examinations by taxing authorities for years prior to 2017. The Company’s subsidiaries in India and China are open to examination by relevant taxing authorities for tax years beginning on or after April 1, 2012 and January 1, 2010, respectively. The Company regularly reviews the likelihood of additional tax assessments and adjusts its unrecognized tax benefits as additional information or events require.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Segment reporting

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment reporting

24. Segment reporting

The Company’s reportable segments are as follows: (1) Banking, Capital Markets and Insurance (BCMI); (2) Consumer Goods, Retail, Life Sciences and Healthcare (CGRLH); and (3) High Tech, Manufacturing and Services (HMS).

The Company has restated segment information for the year ended December 31, 2018 presented herein to conform to the current presentation. This change in segment presentation does not affect the Company's consolidated statements of income, balance sheets or statements of cash flows.

The Company’s Chief Executive Officer, who has been identified as the CODM, reviews operating segment revenue, which is a GAAP measure, and operating segment adjusted income from operations, which is a non-GAAP measure. The Company does not allocate and therefore the CODM does not evaluate foreign exchange gain/(losses), interest income/(expense), restructuring expenses, acquisition-related expenses, stock-based compensation, amortization and impairment of intangible assets and income taxes by segment. The Company’s operating assets and liabilities pertain to multiple segments. The Company manages assets and liabilities on a total Company basis, not by operating segment, and therefore information about assets, liabilities and capital expenditures by operating segment are not presented to the CODM and are not reviewed by the CODM.

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2020 were as follows:

	Reportable segments
	BCMI		CGRLH		HMS		Total Reportable segments		Others*	Total
Revenues, net		1,079,193		1,264,654		1,388,826		3,732,673	(23,296)		3,709,377
Adjusted income from operations		132,939		197,197		244,166		574,302	14,506		588,808
Stock-based compensation											(74,008)
Amortization and impairment of acquired intangible assets (other than included above)												(43,648)
Acquisition-related expenses												(2,650)
Foreign exchange gains (losses), net												7,482
Interest income (expense), net												(48,960)
Restructuring expenses (refer (a) below and Note 29)												(26,547)
Income tax expense												(92,201)
Net income attributable to Genpact Limited shareholders												308,276

(a) We do not allocate these charges to individual segments in internal management reports used by the chief operating decision maker. Accordingly, such expenses are included in our segment reporting as “unallocated costs.”

*Adjusted income from operations for “Others” primarily represents the impact of over-absorption of overhead, unallocated allowances for credit losses, impairments related to operating ROU assets and property, plant and equipment, and foreign exchange fluctuations, which are not allocated to the Company’s segments for management’s internal reporting purposes.

24. Segment reporting (Continued)

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2019 were as follows:

	Reportable segments
	BCMI		CGRLH			HMS			Total Reportable segments		Others**			Total
Revenues, net		1,078,844		1,107,534				1,348,635		3,535,013		(14,470)			3,520,543
Adjusted income from operations		115,998			161,515		238,129			515,642	43,199		#			558,841
Stock-based compensation																(83,885)
Amortization and impairment of acquired intangible assets (other than included above)																(31,458)
Acquisition-related expenses																(8,352)
Foreign exchange gains (losses), net																7,729
Interest income (expense), net																(43,458)
Income tax expense																(94,536)
Net income attributable to Genpact Limited shareholders																304,881

**Revenues, net for “Others” primarily represents the impact of foreign exchange fluctuations, which is not allocated to the Company’s segments for management’s internal reporting purposes. Adjusted income from operations for “Others” primarily represents gains related to a transfer of land, government incentives and the impact of foreign exchange fluctuations, which are not allocated to the Company’s segments for management’s internal reporting purposes.

#Includes $10,524 toward the accelerated charge of a contract cost asset relating to a wealth management platform used in the Company’s BCMI segment that the Company no longer plans to leverage beyond its current scope. If this charge had been recorded in the BCMI segment in the year ended December 31, 2019, AOI for the Company’s BCMI segment in 2019 would have been $105,474, with a corresponding increase in AOI of “Others” to $53,723.

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2018 were as follows:

	Reportable segments
	BCMI		CGRLH	HMS	Total Reportable segments	Others***			Total
Revenues, net		1,079,673	903,225	1,005,070	2,987,968		12,822			3,000,790
Adjusted income from 0perations		148,712	116,705	177,209	442,626		30,688			473,314
Stock-based compensation										(48,998)
Amortization and impairment of acquired intangible assets (other than included above)								(37,292)
Acquisition-related expenses								(2,362)
Foreign exchange gains (losses), net								15,239
Interest income (expense), net								(37,119)
Income tax expense								(80,763)
Net income attributable to Genpact Limited shareholders								282,019

***Revenues, net for “Others” primarily represents the impact of foreign exchange fluctuations, which is not allocated to the Company’s segments for management’s internal reporting purposes. AOI for “Others” primarily represents government incentives and the impact of foreign exchange fluctuations which are not allocated to the Company’s segments for management’s internal reporting purposes.

24. Segment reporting (Continued)

Revenues from a single customer in the Company’s HMS segment comprised 9%, 14% and 12% of the Company’s consolidated total net revenues in 2018, 2019 and 2020, respectively.

Net revenues from geographic areas based on the location of the Company’s service delivery centers are as follows. A portion of net revenues attributable to India consists of net revenues for services performed by delivery centers in India or at clients’ premises outside of India by business units or personnel normally based in India.

	Year ended December 31,
	2018		2019		2020
India	$	1,739,455	$	1,890,897	$	1,851,347
Asia, other than India		327,462	356,726			461,839
North and Latin America		641,716		863,748		1,007,635
Europe		292,157		409,172		388,556
Total net revenues	$	3,000,790	$	3,520,543	$	3,709,377

Property, plant and equipment, net by geographic region are as follows:

	As of December 31,
	2019		2020
India	$	161,227	$	157,129
Asia, other than India		17,212		16,790
North and Latin America		58,499		44,934
Europe		17,097		12,269
Total	$	254,035	$	231,122

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Net Revenues

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Net Revenues

25. Net Revenues

Disaggregation of revenue

In the following tables, the Company’s revenue is disaggregated by customer classification:

	Year ended December 31,
	2018		2019		2020
GE	$	268,210	$	478,091	$	458,850
Global Clients		2,732,580		3,042,452		3,250,527
Total net revenues	$	3,000,790	$	3,520,543	$	3,709,377

All revenue from GE is included in revenue from the HMS segment, and the remainder of revenue from the HMS segment consists of revenue from Global Clients. All of the segment revenue from both the BCMI and CGRLH segments consists of revenue from Global Clients. Refer to Note 24 for details on net revenues attributable to each of the Company’s segments.

25. Net Revenues (Continued)

The Company has evaluated the impact of the COVID-19 pandemic on the Company’s net revenues for the year ended December 31, 2020 to ensure that revenue is recognized after considering all impacts to the extent currently known. Impacts observed include constraints on the Company’s ability to render services, whether due to full or partial shutdowns of the Company’s facilities or significant travel restrictions, penalties relating to breaches of service level agreements, and contract terminations or contract performance delays initiated by clients. The Company’s net revenues for the year ended December 31, 2020 were lower than expected before the onset of the pandemic, primarily due to delays in obtaining client approvals to shift to a virtual, work-from-home operating environment, whether as a result of regulatory constraints or due to privacy or security concerns. The Company’s net revenues from various service lines, including transformation services, in the year ended December 31, 2020 were also lower than originally expected before the onset of the pandemic due to adverse market developments related to the pandemic, resulting in instances of delays or cancellations of new projects and orders. Due to the nature of the pandemic, the Company will continue to monitor developments to identify significant uncertainties relating to revenue in future periods.

Contract balances

Accounts receivable include amounts for services that the Company has performed but for which payment has not been received. The Company typically follows a 30-day billing cycle and, as such, at any point in time may have accrued up to 30 days of revenues that have not been billed. The Company has determined that in instances where the timing of revenue recognition differs from the timing of invoicing, the related contracts generally do not include a significant financing component. See Note 5 for details on the Company’s accounts receivable and allowance for credit losses.

The following table shows the details of the Company’s contract balances:

	As of December 31,
	2019		2020
Contract assets (Notes a)	$	40,346	$	15,805
Contract liabilities (Note b)
Deferred transition revenue	$	131,108	$	130,804
Advance from customers	$	44,818	$	92,673

(a)Included in "prepaid expenses and other current assets" and "other assets" in the consolidated balance sheet.

(b)Included in "accrued expenses and other current liabilities" and "other liabilities" in the consolidated balance sheet.

Contract assets represent the contract acquisition fees or other upfront fees paid to a customer. Such costs are amortized over the expected period of benefit and recorded as an adjustment to the transaction price and deducted from revenue. The Company’s assessment did not indicate any significant impairment losses on its contract assets for the periods presented.

Contract liabilities include that portion of revenue for which payments have been received in advance from customers. The Company also defers revenues attributable to certain process transition activities for which costs have been capitalized by the Company as contract fulfillment costs. Consideration received from customers, if any, relating to such transition activities is also included as part of contract liabilities. The contract liabilities are included within “Accrued expenses and other current liabilities” and “Other liabilities” in the consolidated balance sheets. The revenues are recognized as (or when) the performance obligation is fulfilled under the contract with the customer.

Changes in the Company’s contract asset and liability balances during the year ended December 31, 2019 and 2020 were a result of normal business activity and not materially impacted by any other factors.

Revenue recognized during the year ended December 31, 2019 and 2020 that was included in the contract liabilities balance at the beginning of the period was $72,285 and $102,893, respectively.

25. Net Revenues (Continued)

The following table includes estimated revenue expected to be recognized in the future related to remaining performance obligations as of December 31, 2020:

		Total				Less than 1 year				1-3 years				3-5 years				After 5 years
Transaction price allocated to remaining performance obligations		$	223,477			$	154,717			$	54,471			$	11,949			$	2,340

The following table provides details of the company’s contract cost assets:

	As of December 31,
	2019				2020
	Sales incentive programs		Transition activities		Sales incentive programs		Transition activities
Opening balance	$	25,891	$	134,302	$	35,366	$	170,132
Closing balance		35,366		170,132		33,390		192,507
Amortization		17,684		70,001		19,960		68,770

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Related party transactions

Related party transactions

12 Months Ended

Dec. 31, 2020

26. Related party transactions

The Company has from time to time entered into related party transactions with non-consolidating affiliates and Bain Capital Investors, LLC (“Bain”), which was an affiliate of significant shareholders of the Company until November 2019. During the year ended December 31, 2019, Bain’s affiliates sold their remaining shares in the Company and Bain is no longer a related party, and the Company also has sold its investments in non-consolidating affiliates. Accordingly, transactions between the Company, its non-consolidating affiliates and Bain are no longer presented as related party transactions for the year ended December 31, 2020. The value of related party transactions entered into during the year ended December 31, 2018, 2019 and 2020 was not significant.

Other Income (expense), net

12 Months Ended

Dec. 31, 2020

Other Nonoperating Income Expense [Abstract]

Other Income (expense), net

27. Other Income (expense), net

Other income (expense), net consists of following:

	Year ended December 31,
	2018			2019		2020
Government incentives	$	36,099		$	3,976	$	—
Other income (expense)		(338	)		1,810		3,238
Other Income (expense), net	$	35,761		$	5,786	$	3,238

Commitments and contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and contingencies

28. Commitments and contingencies

Capital commitments

As of December 31, 2019 and 2020, the Company has committed to spend $5,368 and $5,128, respectively, under agreements to purchase property, plant and equipment. This amount is net of capital advances paid in respect of such purchases.

Bank guarantees

The Company has outstanding bank guarantees and letters of credit amounting to $9,585 and $10,156 as of December 31, 2019 and 2020, respectively. Bank guarantees are generally provided to government agencies and excise and customs authorities for the purposes of maintaining a bonded warehouse. These guarantees may be revoked by the government agencies if they suffer any losses or damages through the breach of any of the covenants contained in the agreements governing such guarantees.

28. Commitments and contingencies (Continued)

Other commitments

Certain units of the Company’s Indian subsidiaries are established as Software Technology Parks of India units or Special Economic Zone (“SEZ”) units under the relevant regulations issued by the Government of India. These units are exempt from customs and other duties on imported and indigenous capital goods, stores and spares. SEZ units are also exempt from the Goods and Services Tax (“GST”) that was introduced in India in 2017. The Company has undertaken to pay taxes and duties, if any, in respect of capital goods, stores, spares and services consumed duty-free, in the event that certain terms and conditions are not fulfilled.

Contingency

In February 2019, there was a judicial pronouncement in India with respect to defined contribution benefit payments interpreting certain statutory defined contribution obligations of employees and employers. It is not currently clear whether the interpretation set out in the pronouncement has retrospective application. If applied retrospectively, the interpretation would result in an increase in contributions payable by the Company for past periods for certain of its India-based employees. There are numerous interpretative challenges concerning the retrospective application of the judgment. Due to such challenges and a lack of interpretive guidance and based on legal advice the Company has obtained on the matter, it is currently impracticable to reliably estimate the timing and amount of any payments the Company may be required to make. Accordingly, the Company plans to obtain further clarity and will evaluate the amount of a potential provision, if any.

Beginning in the second quarter of 2020, the Indian taxing authorities (“ITA”) began to challenge or reject the Company’s Indian GST and service tax refunds. In total, refunds of $15,965 have been denied or challenged by the ITA and additional refunds may be denied.

The Company had requested these refunds pursuant to the tax exemption available for exports under the previous Indian service tax regime as well as the current Indian GST regime in respect of services performed by the Company in India for affiliates and clients outside of India. In denying the refunds, the ITA have taken the position that the services provided are local services, which interpretation, if correct, would make the service tax and GST exemption on exports unavailable to the Company in respect of such services. The Company is pursuing appeals before relevant appellate authorities. The Company believes that the denial of the refunds claimed pursuant to the service tax and GST exemption is incorrect and that the risk that the liability will materialize is remote. Accordingly, no reserve has been provided as of December 31, 2020.

An affiliate of the Company in India received an assessment order in 2016 seeking to assess tax amounting to $111,061 (including interest to the date of the order) on certain transactions that occurred in 2013. This amount excludes penalty or interest accrued since the date of the order. The Company filed an appeal against this assessment order with the Commissioner Income Tax (Appeals), the first tax appellant authority in India, which ruled against the Company. Subsequently, the Company filed an appeal with the Income Tax Appellate Tribunal of India (“Tribunal”). The Tribunal has accepted the legal arguments raised by the Company and the assessment order has been cancelled. The taxes paid under protest amounting to $27,341 are yet to be refunded to the Company. The Indian tax authorities may appeal the order of the Tribunal before higher appellate authorities. Based on its evaluation of the facts underlying the transaction and legal advice received, the Company believes that it is more likely than not that this transaction would not be subject to tax liability in India. Accordingly, no reserve has been provided as of December 31, 2020.

In September 2020, the Indian Parliament approved the Code on Social Security, 2020 (the “Code”), which will impact the Company’s contributions to its defined contribution and defined benefit plans for employees based in India. The date the changes will take effect is not yet known and the rules for quantifying the financial impact have not yet been published. The Company will evaluate the impact of the Code on the Company in its financial statements for the period in which the Code becomes effective and the related rules are published.

Restructuring

12 Months Ended

Dec. 31, 2020

Restructuring And Related Activities [Abstract]

Restructuring

29. Restructuring

In the second quarter of 2020, due to the impact of the COVID-19 pandemic on the Company’s current and expected future revenues, the Company recorded a $21,658 restructuring charge primarily relating to the abandonment of leased office premises and employee severance charges. In the third quarter of 2020, the Company recorded an additional charge of $4,889 relating to employee severance charges.

Of the total recorded restructuring charges of $26,547, $11,152 was a non-cash charge (including $908 related to writing down certain property, plant and equipment) recorded as other operating expense, which pertains to the abandonment of various leased office premises as a result of the Company’s consolidation of underutilized office premises due to lower demand or shifting to a work-from-home model. The Company made efforts to sublease certain office premises instead of abandoning them, but due to the COVID-19 pandemic and the related widespread adoption of work-from-home practices by many businesses worldwide, the Company has been unable to sublease such premises to date and it is unlikely that the Company will be able to sublease any such premises in the foreseeable future. The Company also recorded a severance charge of $15,395 in personnel expense as a result of a focused reduction in its workforce. No further restructuring costs were incurred related to this restructuring plan subsequent to third quarter of 2020.

Quarterly financial data (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly financial data (unaudited)

30. Quarterly financial data (unaudited)

	Three months ended								Year ended
	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		December 31, 2020
Total net revenues	$	923,192	$	900,094	$	935,523	$	950,568	$	3,709,377
Gross profit	$	318,421	$	306,202	$	329,694	$	336,923	$	1,291,240
Income from operations	$	110,658	$	90,364	$	124,642	$	113,053	$	438,717
Income before equity method investment activity, net and income tax expense	$	110,559	$	79,147	$	110,443	$	100,328	$	400,477
Net income	$	85,698	$	62,161	$	85,435	$	74,982	$	308,276
Earnings per common share
Basic	$	0.45	$	0.33	$	0.45	$	0.40	$	1.62
Diluted	$	0.44	$	0.32	$	0.43	$	0.38	$	1.57
Weighted average number of common shares used in computing earnings per common share
Basic		190,626,757		190,541,148		190,949,108		189,470,107		190,396,780
Diluted		196,532,513		195,112,549		196,655,140		194,823,683		195,780,971

30. Quarterly financial data (unaudited) (Continued)

	Three months ended								Year ended
	March 31, 2019		June 30, 2019		September 30, 2019		December 31, 2019		December 31, 2019
Total net revenues	$	809,206	$	881,799	$	888,799	$	940,739	$	3,520,543
Gross profit	$	290,069	$	310,555	$	315,140	$	310,091	$	1,225,855
Income from operations	$	90,072	$	106,202	$	113,584	$	119,518	$	429,376
Income before equity method investment activity, net and income tax expense	$	79,320	$	94,970	$	110,794	$	114,349	$	399,433
Net income	$	60,841	$	73,722	$	88,120	$	82,198	$	304,881
Earnings per common share
Basic	$	0.32	$	0.39	$	0.46	$	0.43	$	1.60
Diluted	$	0.31	$	0.38	$	0.45	$	0.42	$	1.56
Weighted average number of common shares used in computing earnings per common share
Basic		189,451,845		190,163,359		190,599,049		190,083,647		190,074,475
Diluted		193,394,208		194,766,047		195,890,841		196,592,325		195,160,855

Subsequent Events

12 Months Ended

Dec. 31, 2020

Subsequent Events [Abstract]

Subsequent Events

31. Subsequent Events

Share Repurchase

Pursuant to its share repurchase program, the Company repurchased 929,895 of its common shares on the open market between January 1, 2021 and February 5, 2021 at a weighted average price of $40.45 per share for an aggregate cash amount of $37,611.

In February 2021, the Company’s board of directors authorized a $500,000 increase to its existing $1,250,000 share repurchase program, first announced in February 2015, bringing the total authorization under the Company’s existing share repurchase program to $ 1,750,000.

Dividend

In February 2021, the Company announced that its Board of Directors has approved a 10% increase in its quarterly cash dividend, representing a planned annual dividend of $0.43 per common share, increased from $0.39 per common share in 2020. The Board of Directors also declared a dividend for the first quarter of 2021 of $0.1075 per common share, which will be paid on March 19, 2021 to shareholders of record as of the close of business on March 10, 2021. The declaration of any future dividends will be at the discretion of the Board of Directors and subject to Bermuda and other applicable laws.

Summary of significant accounting policies (Policies)

12 Months Ended

Dec. 31, 2020

Basis of preparation and principles of consolidation

(a) Basis of preparation and principles of consolidation

Use of estimates

(b) Use of estimates

Business combinations

2. Summary of significant accounting policies (Continued)

Goodwill

Other Intangible Assets

Customer-related intangible assets		1-11 years
Marketing-related intangible assets		1-10 years
Technology-related intangible assets		2-8 years

2. Summary of significant accounting policies (Continued)

Financial instruments and concentration of credit risk

(d) Financial instruments and concentration of credit risk

Accounts receivable

(e) Accounts receivable

Revenue recognition

(f) Revenue Recognition

2. Summary of significant accounting policies (Continued)

Significant judgements

(g) Leases (effective January 1, 2019)

2. Summary of significant accounting policies (Continued)

The carrying value of ROU assets is reviewed for impairment, similar to long-lived assets, whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable.

Significant judgements

2. Summary of significant accounting policies (Continued)

(h) Cost of revenue

(i) Selling, general and administrative expenses

Changes in Accounting Policies

(j) Changes in accounting policies

Credit losses

2. Summary of significant accounting policies (Continued)

Credit losses (effective January 1, 2020)

Impact on consolidated financial statements

The following table summarizes the impact of the Company’s adoption of Topic 326 on its consolidated financial statements as of January 1, 2020.

	As reported December 31, 2019		Adoption of Topic 326 Increase/(Decrease)		Balance as of January 1, 2020
Accounts receivable, net		914,255		(4,185)		910,070
Other assets		217,079	(734)*			216,345
Deferred tax assets		89,715		935		90,650
Retained earnings		648,656		(3,984)		644,672

*Represents the expected credit loss on deferred billings amounting to $7,858 included in “Other assets.”

Reclassification

(k) Reclassification

Cash And Cash Equivalents

(l) Cash and cash equivalents

Cash and cash equivalents consist of cash and bank balances and all highly liquid investments purchased with an original maturity of three months or less.

Short- term investments

(m) Short-term investments

Property, plant and equipment, net

(n) Property, plant and equipment, net

		Years
Buildings		40
Furniture and fixtures		4
Computer equipment and servers		4
Plant, machinery and equipment		4
Computer software		4-7
Leasehold improvements		Lease period or 10 Years, whichever is less
Vehicles		3-4

Impairment of long-lived assets

(o) Impairment of long-lived assets

Foreign currency

2. Summary of significant accounting policies (Continued)

(p) Foreign currency

Derivative instruments and hedging activities

(q) Derivative instruments and hedging activities

Income taxes

2. Summary of significant accounting policies (Continued)

(r) Income taxes

Employee benefit plans

(s) Employee benefit plans

Deferred Compensation Plans

(t) Deferred Compensation Plans

Stock-based compensation

2. Summary of significant accounting policies (Continued)

(u) Stock-based compensation

Accelerated Share Repurchase

(v) Accelerated Share Repurchase

Government incentives

(w) Government incentives

Earnings (loss) per share

(x) Earnings (loss) per share

Commitments and contingencies

(y) Commitments and contingencies

Debt Restructuring

2. Summary of significant accounting policies (Continued)

(z) Debt restructuring

Recently issued accounting pronouncements

(aa) Recently issued accounting pronouncements

The authoritative bodies release standards and guidance which are assessed by management for impact on the Company’s consolidated financial statements.

The Company has adopted the following recently released accounting standards:

2. Summary of significant accounting policies (Continued)

The following recently released accounting standards have not yet been adopted by the Company:

Summary of significant accounting policies (Tables)

12 Months Ended

Dec. 31, 2020

Estimated Useful Lives of Intangible Assets Acquired

Customer-related intangible assets		1-11 years
Marketing-related intangible assets		1-10 years
Technology-related intangible assets		2-8 years

Summary of Impact of Adoption of Topic 842 on consolidated financial statements

The following table summarizes the impact of the Company’s adoption of Topic 326 on its consolidated financial statements as of January 1, 2020.

	As reported December 31, 2019		Adoption of Topic 326 Increase/(Decrease)		Balance as of January 1, 2020
Accounts receivable, net		914,255		(4,185)		910,070
Other assets		217,079	(734)*			216,345
Deferred tax assets		89,715		935		90,650
Retained earnings		648,656		(3,984)		644,672

*Represents the expected credit loss on deferred billings amounting to $7,858 included in “Other assets.”

Schedule of Estimated Economic Useful Lives of Property Plant and Equipment

The Company depreciates and amortizes all property, plant and equipment using the straight-line method over the following estimated economic useful lives of the assets:

		Years
Buildings		40
Furniture and fixtures		4
Computer equipment and servers		4
Plant, machinery and equipment		4
Computer software		4-7
Leasehold improvements		Lease period or 10 Years, whichever is less
Vehicles		3-4

Cash and cash equivalents (Tables)

12 Months Ended

Dec. 31, 2020

Cash And Cash Equivalents [Abstract]

Schedule of Cash and Cash Equivalents

	As of December 31,		As of December 31,
	2019		2020

Cash and other bank balances		467,096		680,440
Total	$	467,096	$	680,440

Accounts receivable, net of allowance for credit losses (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Allowance for Credit Losses

The following table provides details of the Company’s allowance for credit losses:


	Year ended December 31,
	2018			2019			2020
Opening balance as of January 1	$	23,660		$	23,960		$	29,969
Transition period adjustment on accounts receivables (through retained earnings) pursuant to adoption of ASC 326		—			—			4,185
Adjusted balance as of January 1		23,660			23,960			34,154
Additions due to acquisitions		—			1,004			200
Additions charged/reversal released to cost and expense, net		1,857			7,443			3,307
Deductions/effect of exchange rate fluctuations		(1,557	)		(2,438	)		(9,954	)
Closing balance	$	23,960		$	29,969		$	27,707

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value of Assets and Liabilities Measured on Recurring Basis, Including Derivative Instruments

	As of December 31, 2019
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments (Note a, c)	$	21,309	$	—	$	21,309		$	—
Deferred compensation plan assets (a, e)		11,208		—		—			11,208
Total	$	32,517	$	—	$	21,309		$	11,208
Liabilities
Earn out Consideration (Note b, d)	$	22,184	$	—	$	—		$	22,184
Derivative instruments (Note b, c)		24,239		—		24,239			—
Deferred compensation plan liability (b, f)		10,943		—		—			10,943
Total	$	57,366	$	—	$	24,239		$	33,127

	As of December 31, 2020
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments (Note a, c)	$	27,709	$	—	$	27,709	$	—
Deferred compensation plan assets (Note a, e)		26,832		—		—		26,832
Total	$	54,541	$	—	$	27,709	$	26,832
Liabilities
Earn out consideration (Note b, d)	$	8,272	$	—	$	—	$	8,272
Derivative instruments (Note b, c)		40,981		—		40,981		—
Deferred compensation plan liability (Note b, f)		26,390		—		—		26,390
Total	$	75,643	$	—	$	40,981	$	34,662

(a)	Included in “prepaid expenses and other current assets” and “other assets” in the consolidated balance sheets.

(b)	Included in “accrued expenses and other current liabilities” and “other liabilities” in the consolidated balance sheets.

(c)	The Company values its derivative instruments based on market observable inputs, including both forward and spot prices for the relevant currencies and interest rate indices for relevant interest rates. The quotes are taken from an independent market database.

(d)

(e)

6. Fair Value Measurements (Continued)

(f)	The fair value of the deferred compensation plan liability is derived based on the fair value of the underlying assets in the insurance policies and is therefore classified within level 3 of the fair value hierarchy.

Deferred Compensation Plan Assets

Roll-Forward of Fair Value of Deferred Compensation Plan Assets Categorized as Level 3 in Fair Value Hierarchy

The following table provides a roll-forward of the fair value of deferred compensation plan assets categorized as level 3 in the fair value hierarchy for the year ended December 31, 2019 and 2020:

	Year ended December 31,
	2019		2020
Opening balance	$	1,613	$	11,208
Additions (net of redemption)		8,299		11,460
Change in fair value of deferred compensation plan assets (Note a)		1,296		4,164
Closing balance	$	11,208	$	26,832

(a)	Changes in the fair value of plan assets are reported in “other income (expense), net” in the consolidated statements of income.

Business Acquisition Contingent Consideration

Roll-Forward of Fair Value of Earn-out Consideration and Deferred Compensation Liabilities Categorized as Level 3 in Fair Value Hierarchy

The following table provides a roll-forward of the fair value of earn-out consideration categorized as level 3 in the fair value hierarchy for the years ended December 31, 2019 and 2020:

	Year ended December 31,
	2019			2020
Opening balance	$	17,073		$	22,184
Earn-out consideration payable in connection with acquisitions		21,701			—
Payments made on earn-out consideration (Note a)		(17,098	)		(6,552	)
Change in fair value of earn out consideration (Note b)		—			(7,790	)
Others (Note c)		508			430
Closing balance	$	22,184		$	8,272

(a)	Includes the interest payment on earn-out consideration in excess of the acquisition date fair value, which is included in “cash flows from operating activities” amounting to $4,308 and $0 for the year ended December 31, 2019 and 2020, respectively.

(b)	Changes in the fair value of earn-out consideration are reported in “other operating (income) expense, net” in the consolidated statements of income.

(c)

Deferred Compensation Liabilities

Roll-Forward of Fair Value of Earn-out Consideration and Deferred Compensation Liabilities Categorized as Level 3 in Fair Value Hierarchy

The following table provides a roll-forward of the fair value of deferred compensation liabilities categorized as level 3 in the fair value hierarchy for the year ended December 31, 2019 and 2020:

	Year ended December 31,
	2019		2020
Opening balance	$	1,582	$	10,943
Additions (net of redemption)		8,299		11,327
Change in fair value of deferred compensation plan liabilities (Note a)		1,062		4,120
Closing balance	$	10,943	$	26,390

(a)

Changes in the fair value of deferred compensation liabilities are reported in “selling, general and administrative expenses” in the consolidated statements of income.

Derivative financial instruments (Tables)

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Aggregate Notional Principal Amounts of Outstanding Derivative Financial Instruments with Related Balance Sheet Exposure

The following table presents the aggregate notional principal amounts of outstanding derivative financial instruments together with the related balance sheet exposure:

	Notional principal amounts (note a)				Balance sheet exposure asset (liability) (note b)
	As of December 31, 2019		As of December 31, 2020		As of December 31, 2019			As of December 31, 2020
Foreign exchange forward contracts denominated in:
United States Dollars (sell) Indian Rupees (buy)	$	1,305,000	$	1,150,000		(5,740	)	$	15,207
United States Dollars (sell) Mexican Peso (buy)		—		17,500		—			716
United States Dollars (sell) Philippines Peso (buy)		66,600		67,200		462			1,332
Euro (sell) United States Dollars (buy)		122,337		96,651		4,135			(5,659	)
Singapore Dollars (buy) United States Dollars (sell)		10,017		10,153		38			66
Euro (sell) Romanian Leu (buy)		26,918		29,489		(314	)		(22	)
Japanese Yen (sell) Chinese Renminbi (buy)		29,350		19,230		(258	)		473
Pound Sterling (sell) United States Dollars (buy)		9,089		—		383			—
Australian Dollars (sell) United States Dollars (buy)		35,972		—		1,924			—
United States Dollars (sell) Hungarian Font (buy)		20,500		30,000		162			904
Hungarian Font (Sell) Euro (buy)		9,534		10,444		(157	)		61
Australian Dollars (sell) Indian Rupees (buy)		—		140,525		—			(7,670	)
Interest rate swaps (floating to fixed)		477,604		488,022		(3,565	)		(18,680	)
						(2,930	)		(13,272	)

(a)

(b)	Balance sheet exposure is denominated in U.S. dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date.

Fair Values of Derivative Instruments and Location in Financial Statements

The fair values of the Company’s derivative instruments and their location in the Company’s financial statements are summarized in the table below:

	Cash flow hedges				Non-designated
	As of December 31, 2019		As of December 31, 2020		As of December 31, 2019		As of December 31, 2020
Assets
Prepaid expenses and other current assets	$	16,214	$	16,188	$	2,009	$	5,357
Other assets	$	3,086	$	6,164	$	—	$	—

Liabilities
Accrued expenses and other current liabilities	$	6,152	$	16,387	$	814	$	3,785
Other liabilities	$	17,273	$	16,886	$	—	$	3,923

Cash Flow Hedges, Gains (Losses) Recorded as Component of Other Comprehensive Income (Loss) or Other Comprehensive Income

In connection with cash flow hedges, the gains (losses) recorded as a component of other comprehensive income (loss), or OCI, and the related tax effects are summarized below:

	Year ended December 31,
	2018										2019									2020
	Before Tax amount			Tax (Expense) or Benefit*			Net of tax Amount			Before Tax amount				Tax (Expense) or Benefit*			Net of tax Amount			Before Tax amount			Tax (Expense) or Benefit*			Net of tax Amount
Opening balance	$	50,529		$	(14,436	)	$	36,093		$		(2,411	)	$	(5,524	)	$	(7,935	)	$	(4,126	)	$	(1,466	)	$	(5,592	)
Adoption of ASU 2018-02 (refer note 23)		—			2,265			2,265				—			—			—			—			—			—
Net gains (losses) reclassified into statement of income on completion of hedged transactions		9,336			(1,073	)		8,263				19,401			(7,212	)		12,189			(6,171	)		605			(5,566	)
Changes in fair value of effective portion of outstanding derivatives, net		(43,604	)		5,574			(38,030	)			17,686			(3,154	)		14,532			(12,966	)		3,932			(9,034	)
Gain/(loss) on cash flow hedging derivatives, net		(52,940	)		6,647			(46,293	)			(1,715	)		4,058			2,343			(6,795	)		3,327			(3,468	)
Closing balance	$	(2,411	)	$	(5,524	)	$	(7,935	)	$		(4,126	)	$	(1,466	)	$	(5,592	)	$	(10,921	)	$	1,861		$	(9,060	)

*The tax (expense) benefit includes the effect of novating certain hedging instruments as part of an intercompany transfer.

Gains (Losses) Recognized in Other Comprehensive Income (Loss)

The gains or losses recognized in other comprehensive income (loss) and their effects on financial performance are summarized below:


	Amount of Gain (Loss)									Location of Gain (Loss)	Amount of Gain (Loss) reclassified
Derivatives in	recognized in OCI on									reclassified	from OCI into Statement of Income
Cash Flow	Derivatives (Effective Portion)									from OCI into	(Effective Portion)
Hedging	Year ended December 31,									Statement of Income	Year ended December 31,
Relationships	2018			2019			2020			(Effective Portion)	2018			2019		2020
Forward foreign exchange contracts	$	(45,840	)	$	24,581		$	6,933		Revenue	$	(716	)	$	6,782	$	4,432
Interest rate swaps		2,236			(6,895	)		(19,899	)	Cost of revenue		4,723			6,435		(4,553	)
										Selling, general and administrative expenses		1,543			1,732		(1,266	)
										Interest expense		3,786			4,452		(4,784	)
	$	(43,604	)	$	17,686		$	(12,966	)		$	9,336		$	19,401	$	(6,171	)

There were no gains (losses) recognized in income on the ineffective portion of derivatives and excluded from effectiveness testing for the years ended December 31, 2018, 2019 and 2020, respectively.

Non-designated Hedges


		Amount of Gain (Loss) recognized in Statement of Income on Derivatives
		Year ended December 31,
Derivatives not designated as hedging instruments	Location of Gain (Loss) recognized in Statement of Income on Derivatives	2018			2019		2020
Forward foreign exchange contracts (Note a)	Foreign exchange gains (losses), net	$	(6,240	)	$	4,299	$	(8,055	)
Forward foreign exchange contracts (Note b)	Foreign exchange gains (losses), net		—			—		3,963
		$	(6,240	)	$	4,299	$	(4,092	)

(a)

(b)

Prepaid expenses and other current assets (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Advance income and non-income taxes	$	43,763	$	73,008
Contract asset (Note 25)		19,170		9,035
Prepaid expenses		29,734		32,375
Derivative instruments		18,223		21,545
Employee advances		4,209		2,636
Deposits		1,784		8,774
Advances to suppliers		4,289		2,716
Others		49,153		37,319
	$	170,325	$	187,408

Property, plant and equipment, net (Tables)

12 Months Ended

Dec. 31, 2020

Property Plant And Equipment [Abstract]

Property, plant and equipment, net

Property, plant and equipment, net consist of the following:

	As of December 31, 2019			As of December 31, 2020
Land	$	5,923		$	5,792
Buildings		42,595			41,622
Furniture and fixtures		49,849			52,610
Computer equipment and servers		229,890			270,376
Plant, machinery and equipment		105,004			109,722
Computer software		141,330			141,417
Leasehold improvements		123,413			126,761
Vehicles		120			152
Capital work in progress		46,037			44,011
Property, plant and equipment, gross	$	744,161		$	792,463
Less: Accumulated depreciation, amortization and impairment		(490,126	)		(561,341	)
Property, plant and equipment, net	$	254,035		$	231,122

Goodwill and intangible assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Changes in Goodwill

The following table presents the changes in goodwill for the years ended December 31, 2019 and 2020:

		As of December 31,
		2019		2020
Opening balance	$	1,393,832	$	1,574,466
Goodwill relating to acquisitions consummated during the period		185,381		123,595
Impact of measurement period adjustments		(988)		(5,653)
Effect of exchange rate fluctuations		(3,759)		3,280
Closing balance	$	1,574,466	$	1,695,688

The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2019:

		BCMI	CGRLH	HMS		Total
Opening balance	$	398,601	512,296		482,935		1,393,832
Goodwill relating to acquisitions consummated during the period		20,072	44,365		120,944		185,381
Impact of measurement period adjustments		(380)	(151)		(457)		(988)
Effect of exchange rate fluctuations		(1,080)	(1,380)		(1,299)		(3,759)
Closing balance	$	417,213	555,130		602,123		1,574,466

The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2020:

		BCMI	CGRLH	HMS		Total
Opening balance	$	417,213	555,130		602,123		1,574,466
Goodwill relating to acquisitions consummated during the period		2,559	52,612		68,424		123,595
Impact of measurement period adjustments		(542)	(1,372)		(3,739)		(5,653)
Effect of exchange rate fluctuations		942	1,204		1,134		3,280
Closing balance	$	420,172	607,574		667,942		1,695,688

Summary of Intangible Assets

The Company’s intangible assets are as follows:

	As of December 31, 2019						As of December 31, 2020
	Gross carrying amount		Accumulated amortization & Impairment		Net		Gross carrying amount		Accumulated amortization & Impairment		Net
Customer-related intangible assets	$	415,375	$	329,724	$	85,651	$	478,189	$	359,652	$	118,537
Marketing-related intangible assets		84,180		50,217		33,963		96,561		61,154		35,407
Technology-related intangible assets		149,262		61,150		88,112		152,293		90,866		61,427
Intangible assets under development		26,646		3,511		23,135		23,864		2,503		21,361
	$	675,463	$	444,602	$	230,861	$	750,907	$	514,175	$	236,732

Schedule of Impairment Charge Recorded for Various Categories of Assets

The summary below represents the impairment charges recorded for various categories of assets during the years ended December 31, 2018, 2019 and 2020:

	Year ended December 31,
	2018		2019		2020
Technology related intangibles	$	3,065	$	3,511	$	5,179
Customer related intangibles		—		—		938
Total Intangibles	$	3,065	$	3,511	$	6,117
Property, plant and equipment		1,200		—		7,966
Total Property, plant and equipment	$	1,200	$	—	$	7,966
Grand Total	$	4,265	$	3,511	$	14,083

Estimated Amortization Schedule of Intangible Assets for Future Periods

The estimated amortization schedule for the Company’s intangible assets for future periods is set out below:

For the year ending December 31:
2021	$	81,753
2022		53,705
2023		42,119
2024		24,003
2025 and beyond		13,791
	$	215,371

Other Assets (Tables)

12 Months Ended

Dec. 31, 2020

Deferred Costs Capitalized Prepaid And Other Assets Disclosure [Abstract]

Schedule of Other Assets

Other assets consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Contract asset (Note 25)		21,176		6,770
Advance income and non-income taxes		93,277		155,035
Deposits		36,342		32,058
Derivative instruments		3,086		6,164
Prepaid expenses		6,003		5,176
Deferred billings, net^*		7,858		25,357
Others		15,853		43,175
Right of use (ROU) assets finance lease		33,484		50,083
	$	217,079	$	323,818

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Components of Lease Cost of Operating and Finance Leases

The components of lease cost for operating and finance leases for the years ended December 31, 2019 and 2020 are summarized below:

	Year ended December 31, 2019			Year ended December 31, 2020
Finance lease cost:
Amortization of ROU assets (Note a)		9,302		12,483
Interest on lease liabilities (Note b)		2,997		2,454
Operating lease cost (Note c)		74,436		88,596
Short-term lease cost (Note c)		438		1,643
Variable lease cost (Note c)		4,052		5,347
Total lease cost	$	91,225	$	110,523

	a)	Included in “depreciation and amortization” in the consolidated statements of income.
	b)	Included in “interest income (expense), net” in the consolidated statements of income.
	c)	Included in “cost of revenue” and “selling, general and administrative expenses” in the consolidated statements of income.

Schedule of Other Information

Other information
	Year ended December 31, 2019	Year ended December 31, 2020

Weighted-average remaining lease term—finance leases	3.9 years	3.1 years
Weighted-average remaining lease term—operating leases	6.77 years	6.42 years
Weighted-average discount rate—finance leases	9.20%	6.61%
Weighted-average discount rate—operating leases	6.87%	7.28%

12. Leases (Continued)

	Year ended December 31, 2019		Year ended December 31, 2020
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$ 2,859	$	2,898
Operating cash flows from operating leases	$ 72,645	$	92,010
Financing cash flows from finance leases	$ 7,380	$	10,567

Schedule of Finance and Operating Lease Liabilities

Period range	Finance lease		Operating lease
2021		19,584		78,148
2022		17,165		75,288
2023		10,081		66,790
2024		3,876		56,013
2025		1,000		43,696
Thereafter		—		117,580
Total lease payments		51,706		437,515
Less: Imputed interest		2,682		91,673
Total lease liabilities	$	49,024	$	345,842

Period range	Finance lease		Operating lease
2020		12,019		79,912
2021		8,765		74,736
2022		6,008		63,539
2023		4,506		57,742
2024		3,445		45,870
Thereafter		1,512		135,104
Total lease payments		36,255		456,903
Less: Imputed interest		5,790		97,139
Total lease liabilities	$	30,465	$	359,764

Accrued expenses and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Payables And Accruals [Abstract]

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Accrued expenses	$	178,845	$	150,390
Accrued employee cost		274,000		286,399
Earn-out consideration		6,384		2,651
Statutory liabilities		62,786		104,768
Retirement benefits		1,333		1,967
Compensated absences		26,116		28,635
Derivative instruments		6,966		20,172
Contract liabilities (Note 25)		97,313		154,717
Finance lease liability		9,740		18,066
Others		20,388		39,004
	$	683,871	$	806,769

Long-term debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Maturity Profile of Term Loan Outstanding Net of Debt Amortization Expense

14. Long-term debt (Continued)

The maturity profile of the term loan outstanding as of December 31, 2020, net of debt amortization expense, is as follows:

Year ended	Amount
2021	$	33,537
2022		33,564
2023		526,749
Total	$	593,850

Summary of Long Term Debt

14. Long-term debt (Continued)

A summary of the Company’s long-term debt is as follows:

	As of December 31,
	2019		2020
Credit facility, net of amortization expenses	$	627,359	$	593,850
3.70% Senior Notes, net of debt amortization expenses		348,814		349,342
3.375% Senior Notes, net of debt amortization expenses		397,132		397,716
	$	1,373,305	$	1,340,908
Current portion		33,509		33,537
Non-current portion		1,339,796		1,307,371
Total	$	1,373,305	$	1,340,908

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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Other Liabilities Disclosure [Abstract]

Other liabilities (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Other liabilities

Other liabilities consist of the following:

	As of December 31,		As of December 31,
	2019		2020
Accrued employee cost	$	8,824	$	19,797
Earn-out consideration		15,800		5,621
Retirement benefits		13,067		11,947
Compensated absences		35,029		47,656
Derivative instruments		17,273		20,809
Contract liabilities (Note 25)		78,613		68,760
Finance lease liability		20,725		30,958
Others		19,585		32,850
	$	208,916	$	238,398

Employee benefit plans (Tables)

12 Months Ended

Dec. 31, 2020

Funded Status of Defined Benefit Plans and Amount Recognized

	As of December 31,
	2019			2020
Change in benefit obligation
Projected benefit obligation at the beginning of the year	$	61,448		$	80,561
Service cost		8,915			11,897
Actuarial loss		12,323			6,843
Interest cost		4,667			5,297
Liabilities assumed on acquisition/ transfer of employees		96			180
Benefits paid		(7,043	)		(6,388	)
Plan Amendments		(405	)		—
Effect of exchange rate changes		560			(730	)
Projected benefit obligation at the end of the year	$	80,561		$	97,660
Change in fair value of plan assets
Fair value of plan assets at the beginning of the year	$	39,683		$	70,900
Employer contributions		35,459			24,523
Actual gain on plan assets		3,258			5,724
Actuarial gain/(loss)		387			(354	)
Benefits paid		(7,379	)		(6,287	)
Effect of exchange rate changes		(508	)		(697	)
Fair value of plan assets at the end of the year	$	70,900		$	93,809
Funded status, end of year	$	(9,661	)	$	(3,851	)
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)	$	4,739		$	10,063
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)		(1,333	)		(1,967	)
Non-current liabilities (recorded under other liabilities- retirement benefits)	$	(13,067	)	$	(11,947	)
Funded status, end of year	$	(9,661	)	$	(3,851	)

Amounts Included in Accumulated Other Comprehensive Income (Loss)

Amounts included in accumulated other comprehensive income (loss) as of December 31, 2018, 2019 and 2020 were as follows:

	As of December 31,
	2018			2019			2020
Net actuarial loss	$	(11,037	)	$	(21,490	)	$	(24,669	)
Net prior service credit / (cost)		(967	)		(717	)		(477	)
Deferred tax assets		3,451			6,171			7,065
Other comprehensive income (loss), net	$	(8,553	)	$	(16,036	)	$	(18,081	)

Changes in Accumulated Other Comprehensive Income (Loss)

Changes in other comprehensive income (loss) during the year ended December 31, 2019 and 2020 were as follows:

	For the year ended December 31,
	2019			2020
Net Actuarial loss	$	(11,283	)	$	(5,891	)
Amortization of net actuarial loss		1,150			2,242
Deferred income taxes		2,720			894
Net prior service credit / (cost)		436			219
Effect of exchange rate changes		435			491
Other comprehensive income (loss), net	$	(6,542	)	$	(2,045	)

Accumulated Benefit Obligation for Defined Benefit Plans

The accumulated benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2019 and 2020 was as follows:

	As of December 31,
	2019		2020
Accumulated benefit obligation	$	17,631	$	15,441
Fair value of plan assets at the end of the year	$	6,023	$	5,446

Projected Benefit Obligation for Defined Benefit Plans

The projected benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2019 and 2020 was

as follows:

	As of December 31,
	2019		2020
Projected benefit obligation	$	21,659	$	23,090
Fair value of plan assets at the end of the year	$	7,259	$	9,176

Net Defined Benefit Plan Costs

Net defined benefit plan costs for the years ended December 31, 2018, 2019 and 2020 include the following components:

	Year ended December 31,
	2018			2019			2020
Service costs	$	7,833		$	8,915		$	11,897
Interest costs		3,822			4,667			5,297
Amortization of actuarial loss		806			1,384			2,461
Expected return on plan assets		(2,435	)		(2,605	)		(4,589	)
One-time cost		—			202			—
Net defined benefit plan costs	$	10,026		$	12,563		$	15,066

Fair Values of Plan Assets

The fair values of the Company’s plan assets as of December 31, 2019 and 2020 by asset category are as follows:


	As of December 31, 2020
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs			Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Asset category
Equity	$	—	$	—	$	—		$	—
Cash		21,707		21,707		—			—
Fixed income securities (Note a)		63,444		9,611		53,833			—
Other securities (Note b)		8,658		4,423		4,235			—
Total	$	93,809	$	35,741	$	58,068		$	—


	As of December 31, 2019
	Fair Value Measurements at Reporting Date Using
			Quoted Prices in Active Markets for Identical Assets			Significant Other Observable Inputs			Significant Other Unobservable Inputs
	Total		(Level 1)		(Level 2)			(Level 3)
Asset category
Equity	$	12	$	12		$	—		$	—
Cash		11,001		11,001			—			—
Fixed income securities (Note a)		55,821		3,732			52,089			—
Other securities (Note b)		4,066		2,630			1,436			—
Total	$	70,900	$	17,375		$	53,525		$	—

(a)	Includes investments in funds that invest 100% of their assets in fixed income securities such as money market instruments, government securities and public and private bonds.

(b)	Includes investments in funds that invest primarily in fixed income securities and the remaining portion in equity securities.

Benefit Plan Payments Reflect Expected Future Service

17. Employee benefit plans (Continued)

The expected benefit plan payments set forth below reflect expected future service:

Year ending December 31,
2021	$	12,718
2022		12,290
2023		13,879
2024		15,018
2025		15,173
2026 - 2030		80,012
	$	149,090

Amount Contributed to Defined Contribution Plans in Various Jurisdictions

During the years ended December 31, 2018, 2019 and 2020, the Company contributed the following amounts to defined contribution plans in various jurisdictions:

	Year ended December 31,
	2018		2019		2020
India	$	23,877	$	29,729	$	30,396
U.S.		13,454		19,401		19,491
U.K.		9,619		12,312		11,543
China		17,625		18,819		17,361
Other regions		4,772		8,177		10,427
Total	$	69,347	$	88,438	$	89,218

Benefit Obligations Of Gratuity Plan

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the benefit obligations of the Gratuity Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019	2020
Discount rate	6.80%-7.35%	4.45%-5.90%
Rate of increase in compensation per annum	5.20%-11.50%	5.20%-9.00%

Gratuity Plan Costs

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the Gratuity Plan costs for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018	2019	2020
Discount rate	7.40% - 7.60%	8.30%-8.40%	6.80%-7.35%
Rate of increase in compensation per annum	5.20% - 11.00%	5.20%-11.00%	5.20-11.50%
Expected long-term rate of return on plan assets per annum	7.50%	7.50%	7.50%

Benefit Obligations Of Mexican Plan

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the benefit obligations of the Mexican Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019			2020
Discount rate		7.60	%		7.20	%
Rate of increase in compensation per annum		5.50	%		5.50	%

Mexican Plan Costs

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the costs of the Mexican Plan for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018			2019			2020
Discount rate		7.60	%		9.40	%		7.60	%
Rate of increase in compensation per annum		5.50	%		5.50	%		5.50	%

Benefit Obligations Of Philippines Plan

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the benefit obligations of the Philippines Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019	2020
Discount rate	5.22%	5.26%
Rate of increase in compensation per annum	6.00%	5.00%

Philippines Plan Costs

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the costs of the Philippines Plan for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018	2019	2020
Discount rate	5.97%	7.53%	5.22%
Rate of increase in compensation per annum	8.00%	6.00%	6.00%
Expected long-term rate of return on plan assets per annum	4.00%	1.00%	2.40%

Benefit Obligations Of Japan Plan

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the benefit obligation of the Japan Plan as of December 31, 2019 and 2020 are presented below:

	As of December 31,
	2019	2020
Discount rate	0.094%-0.271%	0.17% -0.41%
Rate of increase in compensation per annum	0.00%	0.00%

Japan Plan Costs

Weighted Average Assumptions used to Determine Benefit Obligations and Plan Costs

The weighted average assumptions used to determine the costs of the Japan Plan for the years ended December 31, 2018, 2019 and 2020 are presented below:

	Year ended December 31,
	2018	2019	2020
Discount rate	0.113%-0.789%	0.076%-0.269%	0.094%-0.271%
Rate of increase in compensation per annum	0.00% - 3.55%	0.00%	0.00%
Expected long-term rate of return on plan assets per annum	0.00%-1.84%	0.00%-1.77%	0.00%-1.77%

Stock-based compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Significant Assumptions used in Determination of Fair Value of Options Granted

The following table shows the significant assumptions used in connection with the determination of the fair value of options granted in 2018, 2019 and 2020:

	2018	2019	2020
Dividend yield	0.95%-1.01%	0.82%-1.08%	0.89%
Expected life (in months)	84	84	84
Risk-free rate of interest for expected life	2.67% - 2.93%	1.56%- 2.63%	1.50%
Volatility	22.55% -22.73%	21.0%- 21.38%	20.96%

Summary of Stock Option Activity

A summary of stock option activity during the years ended December 31, 2018, 2019 and 2020 is set out below:

	Year ended December 31, 2018
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding as of January 1, 2018		5,134,645	$	19.52		5.6	$	—
Granted		2,638,106		30.47		—		—
Forfeited		(70,000)		27.65		—		—
Expired		—		—		—		—
Exercised		(441,076)		16.46		—		6,731
Outstanding as of December 31, 2018		7,261,675	$	23.61		6.4	$	34,143
Vested as of December 31, 2018 and expected to vest thereafter (Note a)		7,107,605	$	23.50		6.4	$	33,997
Vested and exercisable as of December 31, 2018		3,313,570	$	17.69		3.7	$	30,806
Weighted average grant-date fair value of options granted during the period	$	8.32

18. Stock-based compensation (Continued)

	Year ended December 31, 2019
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding as of January 1, 2019		7,261,675	$	23.61		6.4	$	—
Granted		1,881,068		28.50		—		—
Forfeited		(85,000)		29.91		—		—
Expired		—		—		—		—
Exercised		(697,531)		15.33		—		18,724
Outstanding as of December 31, 2019		8,360,212	$	25.33		6.5	$	140,760
Vested as of December 31, 2019 and expected to vest thereafter (Note a)		8,006,985	$	25.18		6.5	$	136,017
Vested and exercisable as of December 31, 2019		3,111,039	$	19.16		3.4	$	71,584
Weighted average grant-date fair value of options granted during the period	$	6.98


	Year ended December 31, 2020
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)		Aggregate intrinsic value
Outstanding as of January 1, 2020		8,360,212	$	25.33		6.5	$	—
Granted		431,924		43.94		—		—
Forfeited		(752,261)		30.09		—		—
Expired		—		—		—		—
Exercised		(692,634)		20.30		—		11,813
Outstanding as of December 31, 2020		7,347,241	$	26.41		5.7	$	110,925
Vested as of December 31, 2020 and expected to vest thereafter (Note a)		7,132,162	$	26.26		5.7	$	108,671
Vested and exercisable as of December 31, 2020		2,713,405	$	19.40		2.6	$	59,593
Weighted average grant-date fair value of options granted during the period	$	9.72

(a)	Options expected to vest reflect an estimated forfeiture rate.

Summary of Restricted Share Units Activity

18. Stock-based compensation (Continued)

A summary of RSU activity during the years ended December 31, 2018, 2019 and 2020 is set out below:

	Year ended December 31, 2018
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2018		1,605,251	$	26.17
Granted		484,427		30.13
Vested (Note b)		(358,697)		25.53
Forfeited		(201,982)		27.09
Outstanding as of December 31, 2018		1,528,999	$	27.45
Expected to vest (Note a)		1,360,048

	Year ended December 31, 2019
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2019		1,528,999	$	27.45
Granted		470,939		37.58
Vested (Note c)		(672,025)		26.84
Forfeited		(66,207)		30.43
Outstanding as of December 31, 2019		1,261,706	$	31.41
Expected to vest (Note a)		1,149,286
	Year ended December 31, 2020
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2020		1,261,706	$	31.41
Granted		296,332		40.40
Vested (Note d)		(640,212)		28.28
Forfeited		(57,518)		37.35
Outstanding as of December 31, 2020		860,308	$	36.44
Expected to vest (Note a)		762,877

(a)	RSUs expected to vest reflect an estimated forfeiture rate.

(b)

(c)

(d)

Summary of Performance Units Activity

A summary of PU activity during the years ended December 31, 2018, 2019 and 2020 is set out below:

	Year ended December 31, 2018
	Number of Performance Units		Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2018		2,900,940	$	24.40		2,900,940
Granted		1,682,740		30.62		3,365,480
Vested (Note b)		(1,087,751)		22.73		(1,087,751)
Forfeited		(258,237)		26.03		(305,737)
Adjustment upon final determination of level of performance goal achievement (Note c)		474,800		30.68
Adjustment upon final determination of level of performance goal achievement (Note d)						(1,160,530)
Outstanding as of December 31, 2018		3,712,402	$	28.40		3,712,402
Expected to vest (Note a)		3,261,069

18. Stock-based compensation (Continued)

	Year ended December 31, 2019
	Number of Performance Units		Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2019		3,712,402	$	28.40		3,712,402
Granted		1,579,109		34.68		3,158,218
Vested (Note e)		(3,276)		27.47		(3,276)
Forfeited		(248,031)		29.04		(278,755)
Adjustment upon final determination of level of performance goal achievement (Note f)		1,018,260		34.72
Adjustment upon final determination of level of performance goal achievement (Note g)						(530,125)
Outstanding as of December 31, 2019		6,058,464	$	31.07		6,058,464
Expected to vest (Note a)		5,507,640
	Year ended December 31, 2020
	Number of Performance Units		Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2020		6,058,464	$	31.07		6,058,464
Granted		1,253,766		42.49		2,507,532
Vested (Note h)		(1,496,377)		25.21		(1,496,377)
Forfeited		(539,670)		33.77		(560,867)
Adjustment upon final determination of level of performance goal achievement (Note i)		(399,987)		42.60
Adjustment upon final determination of level of performance goal achievement (Note j)						(1,632,556)
Outstanding as of December 31, 2020		4,876,196	$	34.56		4,876,196
Expected to vest (Note a)		4,573,356

(a)	PUs expected to vest are based on the probable achievement of the performance targets after considering an estimated forfeiture rate.

(b)	Vested PUs were net settled upon vesting by issuing 691,958 shares (net of minimum statutory tax withholding).

(c)

(d)

(e)	Vested PUs were net settled upon vesting by issuing 2,151 shares (net of minimum statutory tax withholding).

(f)

(g)

18. Stock-based compensation (Continued)

(h)	Vested PUs were net settled upon vesting by issuing 902,532 shares (net of minimum statutory tax withholding).

(i)

(j)

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share

	Year ended December 31,
	2018		2019		2020
Net income available to Genpact Limited common shareholders	$	282,019	$	304,881	$	308,276
Weighted average number of common shares used in computing basic earnings per common share		190,674,740		190,074,475		190,396,780
Dilutive effect of stock-based awards		3,305,298		5,086,380		5,384,191
Weighted average number of common shares used in computing dilutive earnings per common share		193,980,038		195,160,855		195,780,971
Earnings per common share attributable to Genpact Limited common shareholders
Basic	$	1.48	$	1.60	$	1.62
Diluted	$	1.45	$	1.56	$	1.57

Other operating (income) expense, net (Tables)

12 Months Ended

Dec. 31, 2020

Other Income And Expenses [Abstract]

Schedule of Other Operating (Income) Expense, Net

Other operating (income) expense, net consists of the following:

	Year ended December 31,
	2018			2019			2020
Write-down of intangible assets and property, plant and equipment*	$	4,265		$	3,511		$	14,083
Write-down of operating lease right-of-use assets and other assets**		—			—			18,084
Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions)		(5,655	)		—			(7,790	)
Other operating (income) expense^#		(455	)		(34,545	)		(5,046	)
Other operating (income) expense, net	$	(1,845	)	$	(31,034	)	$	19,331

* Refer to Notes 10 and 29 for additional information about other operating (income) expense, net for the year ended December 31, 2020.

Interest income (expense), net (Tables)

12 Months Ended

Dec. 31, 2020

Banking And Thrift Interest [Abstract]

Schedule of Interest Income (Expense), Net

Interest income (expense), net consists of the following:

	Year ended December 31,
	2018			2019			2020
Interest income	$	11,388		$	7,321		$	7,284
Interest expense		(48,507	)		(50,779	)		(56,244	)
Interest income (expense), net	$	(37,119	)	$	(43,458	)	$	(48,960	)

Income taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Tax Expense (Benefit)

Income tax expense (benefit) for the years ended December 31, 2018, 2019 and 2020 is allocated as follows:

	Year ended December 31,
	2018			2019			2020
Income from continuing operations	$	80,763		$	94,536		$	92,201
Other comprehensive income:
Unrealized gains (losses) on cash flow hedges		(6,647	)		(4,058	)		(3,327	)
Retirement benefits		(1,407	)		(2,720	)		(894	)
Retained earnings:
Reclassification from AOCI on early adoption of ASU 2018-02		2,265			—			—
Deferred tax expense recognized on adoption of ASU 2014-09		5,303			—			—
Deferred tax benefit recognized on adoption of ASU 2016-13		—			—			(935	)
Accumulated other comprehensive income:
Reclassification to retained earnings on early adoption of ASU 2018-02		(2,265	)		—			—

Components of Income before Income Tax Expense from Continuing Operations

23. Income taxes (Continued)

The components of income before income tax expense from continuing operations are as follows:

	Year ended December 31,
	2018		2019		2020
Domestic (U.S.)	$	49,986	$	27,783	$	122,497
Foreign (other than U.S.)		312,035		371,634		277,980
Income before income tax expense	$	362,021	$	399,417	$	400,477

Income Tax Expense (Benefit) Attributable to Income from Continuing Operations

Income tax expense (benefit) attributable to income from continuing operations consists of:

	Year ended December 31,
	2018			2019			2020
Current tax expense:
Domestic (U.S. federal)	$	6,466		$	2,854		$	23,668
Domestic (U.S. state)		3,508			3,908			10,765
Foreign (other than U.S.)		64,735			104,089			80,355
	$	74,709		$	110,851		$	114,788
Deferred tax expense (benefit):
Domestic (U.S. federal)	$	6,577		$	2,669		$	(7,329	)
Domestic (U.S. state)		(1,176	)		(1,679	)		(3,770	)
Foreign (other than U.S.)		653			(17,305	)		(11,488	)
	$	6,054		$	(16,315	)	$	(22,587	)
Total income tax expense (benefit)	$	80,763		$	94,536		$	92,201

Income Tax Expense (Benefit) Computed by Applying United States Federal Statutory Income Tax Rate to Income Before Income Taxes

	Year ended December 31,
	2018			2019			2020
Income before income tax expense	$	362,021		$	399,417		$	400,477
Statutory tax rates		21	%		21	%		21	%
Computed expected income tax expense		76,024			83,878			84,100
Increase (decrease) in income taxes resulting from:
Foreign tax rate differential		23,373			34,566			16,295
Tax benefit from tax holiday		(23,003	)		(21,393	)		(16,063	)
Non-deductible expenses		3,245			2,152			372
Effect of change in tax rates		(147	)		6,497			453
Change in valuation allowance		27,826			10,515			142,733
Unrecognized tax benefits		3,008			5,502			3,228
Employment related tax incentive		(3,243	)		(5,239	)		—
Internal restructuring		(2,859	)		—			(129,688	)
State taxes		2,332			2,229			6,995
Excess tax benefit on share-based compensation		(2,131	)		(2,743	)		(7,310	)
Others*		(23,662	)		(21,428	)		(8,914	)
Reported income tax expense (benefit)	$	80,763		$	94,536		$	92,201
*Following the transfer/closure of certain affiliated entities, deferred tax liabilities recorded against the outside basis difference were reversed amounting to $18,510 and $3,782 during the years ended December 31, 2018 and 2019. Additionally, during the years ended December 31, 2019 and 2020, the Company created a deferred tax asset on the impairment of one of its intercompany investments for income tax purposes amounting to $8,069 and $8,384. It was not more likely than not that the resulting net deferred tax asset would be realized. Therefore, a full valuation allowance was established.

23. Income taxes (Continued)

Components of Deferred Tax Balances

The components of the Company’s deferred tax balances as of December 31, 2019 and 2020 are as follows:

	As of December 31,
	2019			2020
Deferred tax assets
Net operating loss carryforwards	$	66,448		$	37,278
Accrued expenses and other liabilities		50,678			70,634
Provision for doubtful debts		10,583			9,930
Property, plant and equipment and right-of-use assets, net		11,569			14,394
Share-based compensation		30,192			35,424
Intangible assets, net		2,640			165,347
Retirement benefits		11,332			14,761
Contract liabilities		4,437			6,080
Tax credit carryforwards		10,739			8,692
Others		10,294			14,619
Gross deferred tax assets	$	208,912		$	377,159
Less: Valuation allowance		(62,628	)		(206,011	)
Total deferred tax assets	$	146,284		$	171,148
Deferred tax liabilities
Intangible assets, net	$	24,819		$	21,884
Property, plant and equipment, net		6,067			3,700
Deferred cost		2,665			1,178
Investments in foreign subsidiaries not indefinitely reinvested		1,401			2,726
Derivative instruments		2,722			2,810
Goodwill		11,793			18,649
Others		11,092			15,043
Total deferred tax liabilities	$	60,559		$	65,990
Net deferred tax asset	$	85,725		$	105,158

	As of December 31,
Classified as	2019		2020
Deferred tax assets non-current	$	89,715	$	106,674
Deferred tax liabilities non-current	$	3,990		1,516
	$	85,725	$	105,158

Change in Total Valuation Allowance for Deferred Tax Assets

23. Income taxes (Continued)

The change in the Company’s total valuation allowance for deferred tax assets as of December 31, 2018, 2019 and 2020 is as follows:

	Year ended December 31,
	2018			2019			2020
Opening valuation allowance	$	24,549		$	51,986		$	62,628
Reduction during the year		(2,307	)		(4,240	)		(35,662	)
Addition during the year		29,744			14,882			179,045
Closing valuation allowance	$	51,986		$	62,628		$	206,011

Remaining Tax Loss Carry Forwards Expiration

23. Income taxes (Continued)

The Company’s remaining operating loss carryforwards expire as set forth in the table below:

	US - Federal		Europe		Others
Year ending December 31,
2021		—		673		544
2022		—		2,575		305
2023		—		727		1,199
2024		—		1,381		2,534
2025		—		4,955		1
2034		—		18,820		—
2035		—		7,357		—
2036		—		48,086		—
2037		222		—		—
2040		—		—		261
	$	222	$	84,574	$	4,844

Foreign Tax Credit Expiry Period

Year ending December 31,	Amount
2021	$	132
2029		90
2033		4,846
2034		3,300
2035		324
	$	8,692

The following table summarizes activities related to our unrecognized tax benefits from January 1 to December 31 for each of 2019 and 2020:

	2019			2020
Opening balance at January 1	$	26,722		$	31,029
Increase related to prior year tax positions, including recorded in acquisition accounting		1,684			2,875
Decrease related to prior year tax positions		(1,232	)		(1,309	)
Decrease related to prior year tax position due to lapse of applicable statute of limitation		(135	)		(287	)
Increase related to current year tax positions, including recorded in acquisition accounting		4,270			2,454
Decrease related to settlements with tax authorities		—			(317	)
Effect of exchange rate changes		(280	)		(145	)
Closing balance at December 31	$	31,029		$	34,300

Segment reporting (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Schedule of Revenue and Adjusted Income from Operations by Reporting Segments

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2020 were as follows:

	Reportable segments
	BCMI		CGRLH		HMS		Total Reportable segments		Others*	Total
Revenues, net		1,079,193		1,264,654		1,388,826		3,732,673	(23,296)		3,709,377
Adjusted income from operations		132,939		197,197		244,166		574,302	14,506		588,808
Stock-based compensation											(74,008)
Amortization and impairment of acquired intangible assets (other than included above)												(43,648)
Acquisition-related expenses												(2,650)
Foreign exchange gains (losses), net												7,482
Interest income (expense), net												(48,960)
Restructuring expenses (refer (a) below and Note 29)												(26,547)
Income tax expense												(92,201)
Net income attributable to Genpact Limited shareholders												308,276

24. Segment reporting (Continued)

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2019 were as follows:

	Reportable segments
	BCMI		CGRLH			HMS			Total Reportable segments		Others**			Total
Revenues, net		1,078,844		1,107,534				1,348,635		3,535,013		(14,470)			3,520,543
Adjusted income from operations		115,998			161,515		238,129			515,642	43,199		#			558,841
Stock-based compensation																(83,885)
Amortization and impairment of acquired intangible assets (other than included above)																(31,458)
Acquisition-related expenses																(8,352)
Foreign exchange gains (losses), net																7,729
Interest income (expense), net																(43,458)
Income tax expense																(94,536)
Net income attributable to Genpact Limited shareholders																304,881

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2018 were as follows:

	Reportable segments
	BCMI		CGRLH	HMS	Total Reportable segments	Others***			Total
Revenues, net		1,079,673	903,225	1,005,070	2,987,968		12,822			3,000,790
Adjusted income from 0perations		148,712	116,705	177,209	442,626		30,688			473,314
Stock-based compensation										(48,998)
Amortization and impairment of acquired intangible assets (other than included above)								(37,292)
Acquisition-related expenses								(2,362)
Foreign exchange gains (losses), net								15,239
Interest income (expense), net								(37,119)
Income tax expense								(80,763)
Net income attributable to Genpact Limited shareholders								282,019

Net Revenues from Geographic Areas Based on Location of Service Delivery Centers

	Year ended December 31,
	2018		2019		2020
India	$	1,739,455	$	1,890,897	$	1,851,347
Asia, other than India		327,462	356,726			461,839
North and Latin America		641,716		863,748		1,007,635
Europe		292,157		409,172		388,556
Total net revenues	$	3,000,790	$	3,520,543	$	3,709,377

Property, Plant and Equipment, Net by Geographic Areas

Property, plant and equipment, net by geographic region are as follows:

	As of December 31,
	2019		2020
India	$	161,227	$	157,129
Asia, other than India		17,212		16,790
North and Latin America		58,499		44,934
Europe		17,097		12,269
Total	$	254,035	$	231,122

Net Revenues (Tables)

12 Months Ended

Dec. 31, 2020

Revenues [Abstract]

Net Revenues Disaggregated by Customer

In the following tables, the Company’s revenue is disaggregated by customer classification:

	Year ended December 31,
	2018		2019		2020
GE	$	268,210	$	478,091	$	458,850
Global Clients		2,732,580		3,042,452		3,250,527
Total net revenues	$	3,000,790	$	3,520,543	$	3,709,377

Details of Company's Contract Balances

The following table shows the details of the Company’s contract balances:

	As of December 31,
	2019		2020
Contract assets (Notes a)	$	40,346	$	15,805
Contract liabilities (Note b)
Deferred transition revenue	$	131,108	$	130,804
Advance from customers	$	44,818	$	92,673

Estimated Revenue Expected to Recognized in Future Related to Remaining Performance Obligation

The following table includes estimated revenue expected to be recognized in the future related to remaining performance obligations as of December 31, 2020:

		Total				Less than 1 year				1-3 years				3-5 years				After 5 years
Transaction price allocated to remaining performance obligations		$	223,477			$	154,717			$	54,471			$	11,949			$	2,340

Summary of Contract Cost Assets

The following table provides details of the company’s contract cost assets:

	As of December 31,
	2019				2020
	Sales incentive programs		Transition activities		Sales incentive programs		Transition activities
Opening balance	$	25,891	$	134,302	$	35,366	$	170,132
Closing balance		35,366		170,132		33,390		192,507
Amortization		17,684		70,001		19,960		68,770

Other Income (expense), net (Tables)

12 Months Ended

Dec. 31, 2020

Other Nonoperating Income Expense [Abstract]

Schedule of Other Income (Expense), Net

Other income (expense), net consists of following:

	Year ended December 31,
	2018			2019		2020
Government incentives	$	36,099		$	3,976	$	—
Other income (expense)		(338	)		1,810		3,238
Other Income (expense), net	$	35,761		$	5,786	$	3,238

Quarterly financial data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Data

	Three months ended								Year ended
	March 31, 2020		June 30, 2020		September 30, 2020		December 31, 2020		December 31, 2020
Total net revenues	$	923,192	$	900,094	$	935,523	$	950,568	$	3,709,377
Gross profit	$	318,421	$	306,202	$	329,694	$	336,923	$	1,291,240
Income from operations	$	110,658	$	90,364	$	124,642	$	113,053	$	438,717
Income before equity method investment activity, net and income tax expense	$	110,559	$	79,147	$	110,443	$	100,328	$	400,477
Net income	$	85,698	$	62,161	$	85,435	$	74,982	$	308,276
Earnings per common share
Basic	$	0.45	$	0.33	$	0.45	$	0.40	$	1.62
Diluted	$	0.44	$	0.32	$	0.43	$	0.38	$	1.57
Weighted average number of common shares used in computing earnings per common share
Basic		190,626,757		190,541,148		190,949,108		189,470,107		190,396,780
Diluted		196,532,513		195,112,549		196,655,140		194,823,683		195,780,971

30. Quarterly financial data (unaudited) (Continued)

	Three months ended								Year ended
	March 31, 2019		June 30, 2019		September 30, 2019		December 31, 2019		December 31, 2019
Total net revenues	$	809,206	$	881,799	$	888,799	$	940,739	$	3,520,543
Gross profit	$	290,069	$	310,555	$	315,140	$	310,091	$	1,225,855
Income from operations	$	90,072	$	106,202	$	113,584	$	119,518	$	429,376
Income before equity method investment activity, net and income tax expense	$	79,320	$	94,970	$	110,794	$	114,349	$	399,433
Net income	$	60,841	$	73,722	$	88,120	$	82,198	$	304,881
Earnings per common share
Basic	$	0.32	$	0.39	$	0.46	$	0.43	$	1.60
Diluted	$	0.31	$	0.38	$	0.45	$	0.42	$	1.56
Weighted average number of common shares used in computing earnings per common share
Basic		189,451,845		190,163,359		190,599,049		190,083,647		190,074,475
Diluted		193,394,208		194,766,047		195,890,841		196,592,325		195,160,855

Organization - Additional Information (Detail)	12 Months Ended
Organization - Additional Information (Detail)	Dec. 31, 2019 Segment	Dec. 31, 2018 Segment	Dec. 31, 2020 Employee Country
Accounting Policies [Abstract]
Number of employees around the globe, minimum \| Employee			96,500
Number of countries in which entity operates \| Country			30
Number of reportable segments \| Segment	3	1

Summary of Significant Accounting Policies - Estimated Useful Lives of Intangible Assets Acquired (Detail)	12 Months Ended
	Dec. 31, 2020
Customer-Related Intangible Assets \| Minimum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	1 year
Customer-Related Intangible Assets \| Maximum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	11 years
Marketing-Related Intangible Assets \| Minimum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	1 year
Marketing-Related Intangible Assets \| Maximum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	10 years
Technology-related intangible assets \| Minimum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	2 years
Technology-related intangible assets \| Maximum
Acquired Finite Lived Intangible Assets [Line Items]
Intangible assets estimated useful lives	8 years

Summary of Significant Accounting Policies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Significant Accounting Policies [Line Items]
Gains (losses) on restructuring of debt	$ 0
Minimum
Schedule Of Significant Accounting Policies [Line Items]
Short term investment, maturity period	3 months
Maximum
Schedule Of Significant Accounting Policies [Line Items]
Short term investment, maturity period	1 year
General Electric Company \| Credit Concentration Risk \| Receivables
Schedule Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	16.00%	17.00%
General Electric Company \| Credit Concentration Risk \| Revenue From Contract With Customer
Schedule Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	12.00%	14.00%	9.00%

Summary of Significant Accounting Policies - Summary of Impact of Adoption of Topic 326 on consolidated financial statements (Detail) - USD ($)
$ in Thousands

Dec. 31, 2020

Jan. 01, 2020

Dec. 31, 2019

Schedule Of Significant Accounting Policies [Line Items]

Accounts receivable, net of reserve for doubtful receivables of $29,969 and allowance for credit losses of $27,707 as of December 31, 2019 and 2020, respectively

$ 881,020

$ 914,255

Other assets, net of reserve for doubtful assets of $0 and allowance for credit losses of $3,134 as of December 31, 2019 and 2020, respectively

323,818

217,079

Deferred tax assets

106,674

89,715

Retained earnings

$ 741,658

$ 648,656

Topic 326

Schedule Of Significant Accounting Policies [Line Items]

Accounts receivable, net of reserve for doubtful receivables of $29,969 and allowance for credit losses of $27,707 as of December 31, 2019 and 2020, respectively

$ 910,070

Other assets, net of reserve for doubtful assets of $0 and allowance for credit losses of $3,134 as of December 31, 2019 and 2020, respectively

216,345

Deferred tax assets

90,650

Retained earnings

644,672

Topic 326 | Adoption of ASC 326 Increase/(Decrease)

Schedule Of Significant Accounting Policies [Line Items]

Accounts receivable, net of reserve for doubtful receivables of $29,969 and allowance for credit losses of $27,707 as of December 31, 2019 and 2020, respectively

(4,185)

Other assets, net of reserve for doubtful assets of $0 and allowance for credit losses of $3,134 as of December 31, 2019 and 2020, respectively

^[1]

(734)

Deferred tax assets

935

Retained earnings

$ (3,984)

[1]	Represents the expected credit loss on deferred billings amounting to $7,858 included in “Other assets

Summary of Significant Accounting Policies - Summary of Impact of Adoption of Topic 326 on consolidated financial statements (Parenthetical) (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Revenue Recognition [Abstract]
Other Assets Noncurrent	$ 7,858

Summary of Significant Accounting Policies - Estimated Economic Useful Lives of Assets (Detail)	12 Months Ended
	Dec. 31, 2020
Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	40 years
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years
Computer Equipment and Servers
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years
Plant, Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years
Computer software \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years
Computer software \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	7 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
Property, plant and equipment, estimated useful lives description	Lease period or 10 Years, whichever is less
Vehicles \| Minimum
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	3 years
Vehicles \| Maximum
Property Plant And Equipment [Line Items]
Property, plant and equipment, estimated useful lives	4 years

Business Acquisitions - Enquero, Inc. - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Payment for business acquisitions, net of cash acquired		$ 186,633	$ 252,276	$ 111,571
Goodwill	$ 1,695,688	1,695,688	1,574,466	1,393,832
Acquisition related cost		$ 2,650	$ 8,352	$ 2,362
Enquero, Inc.
Business Acquisition [Line Items]
Date of acquisition	Dec. 31, 2020
Ownership percentage acquired	100.00%	100.00%
Purchase consideration	$ 148,905
Payment for business acquisitions, net of cash acquired	137,274
Cash and cash equivalents	11,631
Cash consideration to acquired certain assets and assumed certain liabilities	141,938
Consideration payable	$ 6,967	$ 6,967
Maximum measurement period for tax position evaluation	1 year
Acquired intangible assets, weighted average amortization period	4 years
Goodwill	$ 86,669	86,669
Acquisition related cost	1,590
Acquired assets	32,759	32,759
Liabilities assumed	17,113	17,113
Recognized net deferred tax liability	13,310	13,310
Business combination, indemnification assets, amount as of acquisition date	5,848	5,848
Enquero, Inc. \| BCMI
Business Acquisition [Line Items]
Goodwill	2,559	2,559
Enquero, Inc. \| CGRLH
Business Acquisition [Line Items]
Goodwill	22,239	22,239
Enquero, Inc. \| HMS
Business Acquisition [Line Items]
Goodwill	61,871	61,871
Enquero, Inc. \| Customer-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	49,000	49,000
Enquero, Inc. \| Marketing-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	9,500	9,500
Enquero, Inc. \| Technology-related intangible assets
Business Acquisition [Line Items]
Intangible assets	$ 1,400	$ 1,400

Business Acquisitions - SomethingDigital.Com LLC - Additional Information (Detail) $ in Thousands		12 Months Ended
	Oct. 05, 2020 USD ($) Segment	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($) Segment	Dec. 31, 2018 USD ($) Segment
Business Acquisition [Line Items]
Payment for business acquisitions, net of cash acquired		$ 186,633	$ 252,276	$ 111,571
Goodwill		1,695,688	1,574,466	$ 1,393,832
Goodwill deductible for tax purposes		296,046	$ 282,524
Number of reportable segments \| Segment			3	1
Acquisition related cost		$ 2,650	$ 8,352	$ 2,362
SomethingDigital.Com LLC
Business Acquisition [Line Items]
Date of acquisition	Oct. 05, 2020
Ownership percentage acquired	100.00%
Purchase consideration	$ 57,451
Payment for business acquisitions, net of cash acquired	56,073
Cash and cash equivalents	1,378
Cash consideration to acquired certain assets and assumed certain liabilities	57,704
Consideration receivable	$ 253
Maximum measurement period for tax position evaluation	1 year
Acquired intangible assets, weighted average amortization period	4 years
Goodwill	$ 36,926
Goodwill deductible for tax purposes	$ 35,084
Number of reportable segments \| Segment	2
Acquisition related cost	$ 1,060
Acquired assets	9,538
Liabilities assumed	4,494
Recognized net deferred tax asset	81
SomethingDigital.Com LLC \| CGRLH
Business Acquisition [Line Items]
Goodwill	30,373
SomethingDigital.Com LLC \| HMS
Business Acquisition [Line Items]
Goodwill	6,553
SomethingDigital.Com LLC \| Customer-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	11,900
SomethingDigital.Com LLC \| Marketing-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	$ 3,500

Business Acquisitions - Right Point Consulting LLC - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 12, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Payment for business acquisitions, net of cash acquired		$ 186,633	$ 252,276	$ 111,571
Goodwill		1,695,688	1,574,466	1,393,832
Goodwill deductible for tax purposes		296,046	282,524
Acquisition related cost		$ 2,650	$ 8,352	$ 2,362
Rightpoint Consulting LLC
Business Acquisition [Line Items]
Date of acquisition	Nov. 12, 2019
Ownership percentage acquired	100.00%
Purchase consideration	$ 270,669
Payment for business acquisitions, net of cash acquired	268,170
Cash and cash equivalents	2,499
Cash consideration to acquired certain assets and assumed certain liabilities	248,470
Consideration payable	$ 22,199
Percentage of receive consideration in cash at closing date for limited liability company interests and vested options to selling equity holders	100.00%
Retain percentage of limited liability company interests and vested options to selling equity holders	25.00%
Vested options rolling period to certain selling equity holders	3 years
Percentage of receive consideration for remaining limited liability company interests and vested options to selling equity holders	75.00%
Deferred variable earn-out consideration to certain selling equity holders	$ 21,500
Deferred earn-out consideration rolling period to certain selling equity holders	3 years
Acquired intangible assets, weighted average amortization period	5 years
Goodwill	$ 177,181
Goodwill deductible for tax purposes	91,929
Acquisition related cost	7,385
Acquired assets	39,140
Liabilities assumed	22,295
Recognized net deferred tax asset	1,643
Rightpoint Consulting LLC \| BCMI
Business Acquisition [Line Items]
Goodwill	16,983
Rightpoint Consulting LLC \| CGRLH
Business Acquisition [Line Items]
Goodwill	42,993
Rightpoint Consulting LLC \| HMS
Business Acquisition [Line Items]
Goodwill	117,205
Rightpoint Consulting LLC \| Customer-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	46,000
Rightpoint Consulting LLC \| Marketing-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	$ 29,000

Business Acquisitions - Risk Canvas Holdings, LLC - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jan. 07, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill		$ 1,695,688	$ 1,574,466	$ 1,393,832
Acquisition related cost		2,650	$ 8,352	$ 2,362
riskCanvas Holdings, LLC
Business Acquisition [Line Items]
Date of acquisition	Jan. 07, 2019
Ownership percentage acquired	100.00%
Purchase consideration	$ 5,747
Consideration payable		$ 0
Cash consideration to acquired certain assets and assumed certain liabilities	5,700
Acquisition related cost	967
Acquired assets	660
Liabilities assumed	707
riskCanvas Holdings, LLC \| BCMI
Business Acquisition [Line Items]
Goodwill	2,547
riskCanvas Holdings, LLC \| Customer-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	1,700
riskCanvas Holdings, LLC \| Software-Related Intangible Assets
Business Acquisition [Line Items]
Intangible assets	1,400
riskCanvas Holdings, LLC \| Restrictive Covenants
Business Acquisition [Line Items]
Intangible assets	$ 100

Cash and Cash Equivalents - Schedule of Cash and Cash Equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Cash And Cash Equivalents [Abstract]
Cash and other bank balances	$ 680,440	$ 467,096
Total	$ 680,440	$ 467,096

Accounts Receivable, Net of Allowance for Credit Losses - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Receivables [Abstract]
Gross accounts receivable	$ 908,727	$ 944,224
Allowance for credit losses	27,707	29,969	$ 23,960	$ 23,660
Net accounts receivable	$ 881,020	$ 914,255

Accounts Receivable, Net of Allowance for Credit Losses - Allowance for Credit Losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Provisions For Doubtful Accounts [Line Items]
Opening balance	$ 29,969	$ 23,960	$ 23,660
Adjusted balance as of January 1	34,154	23,960	23,660
Additions due to acquisitions	200	1,004
Additions charged/reversal released to cost and expense, net	3,307	7,443	1,857
Deductions/effect of exchange rate fluctuations	(9,954)	(2,438)	(1,557)
Closing balance	27,707	$ 29,969	$ 23,960
ASC 326
Provisions For Doubtful Accounts [Line Items]
Transition period adjustment on accounts receivables (through retained earnings) pursuant to adoption of ASC 326	$ 4,185

Fair Value Measurements - Fair Value of Assets and Liabilities Measured on Recurring Basis, Including Derivative Instruments (Detail) - Fair Value, Measurements, Recurring - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative instruments, assets

^[1],[2]

$ 27,709

$ 21,309

Deferred compensation plan assets

26,832

11,208

^[1],[3]

Total, assets

54,541

32,517

Earn out consideration

^[4],[5]

8,272

22,184

Derivative instruments, liabilities

^[2],[4]

40,981

24,239

Deferred compensation plan liability

26,390

10,943

^[4],[6]

Total, liabilities

75,643

57,366

Fair Value, Inputs, Level 2

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Derivative instruments, assets

^[1],[2]

27,709

21,309

Total, assets

27,709

21,309

Derivative instruments, liabilities

^[2],[4]

40,981

24,239

Total, liabilities

40,981

24,239

Fair Value, Inputs, Level 3

Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]

Deferred compensation plan assets

26,832

11,208

^[1],[3]

Total, assets

26,832

11,208

Earn out consideration

^[4],[5]

8,272

22,184

Deferred compensation plan liability

26,390

10,943

^[4],[6]

Total, liabilities

$ 34,662

$ 33,127

[1]	Included in “prepaid expenses and other current assets” and “other assets” in the consolidated balance sheets.
[2]	The Company values its derivative instruments based on market observable inputs, including both forward and spot prices for the relevant currencies and interest rate indices for relevant interest rates. The quotes are taken from an independent market database.
[3]	Deferred compensation plan assets consist of life insurance policies held under a Rabbi Trust. Assets held in the Rabbi Trust are valued based on the cash surrender value of the insurance contract, which is determined based on the fair value of the underlying assets included in the insurance portfolio and are therefore classified within level 3 of the fair value hierarchy.
[4]	Included in “accrued expenses and other current liabilities” and “other liabilities” in the consolidated balance sheets.
[5]	The fair value of earn-out consideration, calculated as the present value of expected future payments to be made to the sellers of acquired businesses, was derived by estimating the future financial performance of the acquired businesses using the earn-out formula and performance targets specified in each purchase agreement and adjusting the result to reflect the Company’s estimate of the likelihood of achievement of such targets. Given the significance of the unobservable inputs, the valuations are classified in level 3 of the fair value hierarchy.
[6]	The fair value of the deferred compensation plan liability is derived based on the fair value of the underlying assets in the insurance policies and is therefore classified within level 3 of the fair value hierarchy.

Fair Value Measurements - Roll-Forward of Fair Value of Earn-out Consideration Categorized as Level 3 in Fair Value Hierarchy (Detail) - Business Acquisition Contingent Consideration - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Opening balance

$ 22,184

$ 17,073

Earn-out consideration payable in connection with acquisitions

21,701

Payments made on earn-out consideration

^[1]

(6,552)

(17,098)

Change in fair value of earn out consideration

^[2]

(7,790)

Others

^[3]

430

508

Closing balance

$ 8,272

$ 22,184

[1]	Includes the interest payment on earn-out consideration in excess of the acquisition date fair value, which is included in “cash flows from operating activities” amounting to $4,308 and $0 for the year ended December 31, 2019 and 2020, respectively.
[2]	Changes in the fair value of earn-out consideration are reported in “other operating (income) expense, net” in the consolidated statements of income.
[3]	“Others” is comprised of interest expense included in “interest income (expense), net” and the impact of changes in foreign exchange reported in “foreign exchange gains (losses), net” in the consolidated statements of income. This also includes a cumulative translation adjustment reported as a component of other comprehensive income (loss).

Fair Value Measurements - Roll-Forward of Fair Value of Earn-out Consideration Categorized as Level 3 in Fair Value Hierarchy (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Payment of earn-out consideration include in cash flows from operating activities	$ 0	$ 4,308

Fair Value Measurements - Roll-Forward of Fair Value of Deferred Compensation Plan Assets Categorized as Level 3 in Fair Value Hierarchy (Detail) - Deferred Compensation Plan Assets - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Opening balance

$ 11,208

$ 1,613

Additions (net of redemption)

11,460

8,299

Change in fair value of deferred compensation plan assets

^[1]

4,164

1,296

Closing balance

$ 26,832

$ 11,208

[1]	Changes in the fair value of plan assets are reported in “other income (expense), net” in the consolidated statements of income.

Fair Value Measurements - Roll-Forward of Fair Value of Deferred Compensation Liabilities Categorized as Level 3 in Fair Value Hierarchy (Detail) - Deferred Compensation Liabilities - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items]

Opening balance

$ 10,943

$ 1,582

Additions (net of redemption)

11,327

8,299

Change in fair value of deferred compensation plan liabilities

^[1]

4,120

1,062

Closing balance

$ 26,390

$ 10,943

[1]	Changes in the fair value of deferred compensation liabilities are reported in “selling, general and administrative expenses” in the consolidated statements of income.

Derivative Financial Instruments - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Derivative [Line Items]
Gains (losses) recognized in income on ineffective portion of derivatives and excluded from effectiveness testing	$ 0	$ 0	$ 0
Forward Foreign Exchange Contracts \| Maximum
Derivative [Line Items]
Derivative financial instrument contracts, maturity period	48 months
Interest Rate Swaps \| Maximum
Derivative [Line Items]
Derivative financial instrument contracts, maturity period	48 months

Derivative Financial Instruments - Aggregate Notional Principal Amounts of Outstanding Derivative Financial Instruments with Related Balance Sheet Exposure (Detail) - USD ($)

Dec. 31, 2020

Dec. 31, 2019

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

$ (13,272,000)

$ (2,930,000)

United States Dollars (sell) Indian Rupees (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

1,150,000,000

1,305,000,000

^[1]

15,207,000

(5,740,000)

United States Dollars (sell) Hungarian Font (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

30,000,000

20,500,000

^[1]

904,000

162,000

United States Dollars (sell) Philippines Peso (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

67,200,000

66,600,000

^[1]

1,332,000

462,000

Euro (sell) United States Dollars (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

96,651,000

122,337,000

^[1]

(5,659,000)

4,135,000

Singapore Dollars (buy) United States Dollars (sell)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

10,153,000

10,017,000

^[1]

66,000

38,000

Euro (sell) Romanian Leu (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

29,489,000

26,918,000

^[1]

(22,000)

(314,000)

Japanese Yen (sell) Chinese Renminbi (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

19,230,000

29,350,000

^[1]

473,000

(258,000)

Pound Sterling (sell) United States Dollars (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

9,089,000

^[1]

383,000

Australian Dollars (sell) United States Dollars (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

35,972,000

^[1]

1,924,000

United States Dollars (sell) Mexican Peso (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

17,500,000

^[1]

716,000

Australian Dollars (sell) Indian Rupees (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

140,525,000

^[1]

(7,670,000)

Hungarian Font (Sell) Euro (buy)

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

10,444,000

9,534,000

^[1]

61,000

(157,000)

Interest Rate Swap Floating To Fixed

Derivative financial instrument, balance sheet exposure asset (liability)

^[1]

488,022,000

477,604,000

^[1]

$ (18,680,000)

$ (3,565,000)

[1]	Balance sheet exposure is denominated in U.S. dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date.

Derivative Financial Instruments - Fair Values of Derivative Instruments and Location in Financial Statements (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid Expenses and Other Current Assets \| Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Fair value of assets	$ 5,357	$ 2,009
Accrued Expenses and Other Current Liabilities \| Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Fair value of liabilities	3,785	814
Other Liabilities \| Not Designated as Hedging Instrument
Derivatives Fair Value [Line Items]
Fair value of liabilities	3,923
Cash Flow Hedges \| Prepaid Expenses and Other Current Assets
Derivatives Fair Value [Line Items]
Fair value of assets	16,188	16,214
Cash Flow Hedges \| Other Assets
Derivatives Fair Value [Line Items]
Fair value of assets	6,164	3,086
Cash Flow Hedges \| Accrued Expenses and Other Current Liabilities
Derivatives Fair Value [Line Items]
Fair value of liabilities	16,387	6,152
Cash Flow Hedges \| Other Liabilities
Derivatives Fair Value [Line Items]
Fair value of liabilities	$ 16,886	$ 17,273

Derivative Financial Instruments - Cash Flow Hedges, Gains (Losses) Recorded as Component of Other Comprehensive Income (Loss) or Other Comprehensive Income (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Opening balance, before-tax amount

$ (4,126)

$ (2,411)

$ 50,529

Net gains (losses) reclassified into statement of income on completion of hedged transactions, before-tax amount

(6,171)

19,401

9,336

Changes in fair value of effective portion of outstanding derivatives, net, before-tax amount

(12,966)

17,686

(43,604)

Gain (loss) on cash flow hedging derivatives, net, before-tax amount

(6,795)

(1,715)

(52,940)

Closing balance, before-tax amount

(10,921)

(4,126)

(2,411)

Opening balance, tax (expense) or benefit

^[1]

(1,466)

(5,524)

(14,436)

Net gains (losses) reclassified into statement of income on completion of hedged transactions, tax (expense) or benefit

605

(7,212)

^[1]

(1,073)

^[1]

Changes in fair value of effective portion of outstanding derivatives, net, tax (expense) or benefit

3,932

(3,154)

^[1]

5,574

^[1]

Gain (loss) on cash flow hedging derivatives, net, tax (expense) or benefit

3,327

4,058

^[1]

6,647

^[1]

Closing balance, tax (expense) or benefit

1,861

(1,466)

^[1]

(5,524)

^[1]

Opening balance, net of tax amount

(5,592)

(7,935)

36,093

Net gains (losses) reclassified into statement of income on completion of hedged transactions, net of tax amount

(5,566)

12,189

8,263

Changes in fair value of effective portion of outstanding derivatives, net, net of tax amount

(9,034)

14,532

(38,030)

Gain (loss) on cash flow hedging derivatives, net, net of taxes amount

(3,468)

2,343

(46,293)

Closing balance, net of tax amount

$ (9,060)

(5,592)

(7,935)

Cumulative Effect, Period of Adoption, Adjustment

Adoption of ASU 2018-02 (refer note 23)

$ 1,685,187

$ 1,441,968

ASU 2018-02

Adoption of ASU 2018-02 (refer note 23)

^[1]

2,265

ASU 2018-02 | Cumulative Effect, Period of Adoption, Adjustment

Adoption of ASU 2018-02 (refer note 23)

$ 2,265

[1]	*The tax (expense) benefit includes the effect of novating certain hedging instruments as part of an intercompany transfer.

Derivative Financial Instruments - Gains (Losses) Recognized in Other Comprehensive Income (Loss) (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Amount of Gain (loss) recognized in OCI on Derivatives (Effective Portion)

$ (12,966)

$ 17,686

$ (43,604)

Amount of Gain (loss) reclassified from OCI into Statement of Income (Effective Portion)

(6,171)

19,401

9,336

Non designated Hedges, amount of (Gain) Loss recognized in Statement of Income on Derivatives

(4,092)

4,299

(6,240)

Amount of Gain (loss) reclassified from OCI into Statement of Income (Effective Portion)

4,432

6,782

(716)

Cost of Revenue

Amount of Gain (loss) reclassified from OCI into Statement of Income (Effective Portion)

(4,553)

6,435

4,723

Selling, General and Administrative Expenses

Amount of Gain (loss) reclassified from OCI into Statement of Income (Effective Portion)

(1,266)

1,732

1,543

Interest Expense

Amount of Gain (loss) reclassified from OCI into Statement of Income (Effective Portion)

(4,784)

4,452

3,786

Forward Foreign Exchange Contracts

Amount of Gain (loss) recognized in OCI on Derivatives (Effective Portion)

6,933

24,581

(45,840)

Forward Foreign Exchange Contracts | Foreign Exchange Gains (Losses), Net | Not Designated as Hedging Instrument

Non designated Hedges, amount of (Gain) Loss recognized in Statement of Income on Derivatives

^[1]

(8,055)

4,299

(6,240)

Forward Foreign Exchange Contracts | Foreign Exchange Gains (Losses), Net | Previously Designated as Hedging Instrument

Non designated Hedges, amount of (Gain) Loss recognized in Statement of Income on Derivatives

^[2]

3,963

Interest Rate Swaps

Amount of Gain (loss) recognized in OCI on Derivatives (Effective Portion)

$ (19,899)

$ (6,895)

$ 2,236

[1]

[2]

Prepaid Expenses and Other Current Assets - Schedule of Prepaid Expenses and Other Current Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid Expense And Other Assets Current [Abstract]
Advance income and non-income taxes	$ 73,008	$ 43,763
Contract asset	9,035	19,170
Prepaid expenses	32,375	29,734
Derivative instruments	21,545	18,223
Employee advances	2,636	4,209
Deposits	8,774	1,784
Advances to suppliers	2,716	4,289
Others	37,319	49,153
Prepaid expenses and other current assets, net	$ 187,408	$ 170,325

Property, Plant and Equipment, Net - Property, Plant and Equipment, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 792,463	$ 744,161
Less: Accumulated depreciation, amortization and impairment	(561,341)	(490,126)
Property, plant and equipment, net	231,122	254,035
Land
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	5,792	5,923
Buildings
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	41,622	42,595
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	52,610	49,849
Computer Equipment and Servers
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	270,376	229,890
Plant, Machinery and Equipment
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	109,722	105,004
Computer Software
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	141,417	141,330
Leasehold Improvements
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	126,761	123,413
Vehicles
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	152	120
Capital Work in Progress
Property Plant And Equipment [Line Items]
Property, plant and equipment, gross	$ 44,011	$ 46,037

Property, Plant and Equipment, Net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Property Plant And Equipment [Line Items]
Depreciation and amortization	$ 116,499	$ 96,101	$ 64,868
Effect of Reclassification of Foreign Exchange (Gains) Losses
Property Plant And Equipment [Line Items]
Depreciation and amortization	213	(267)	(231)
Depreciation Expense on Property, Plant And Equipment
Property Plant And Equipment [Line Items]
Depreciation and amortization	67,662	53,332	49,518
Computer software
Property Plant And Equipment [Line Items]
Depreciation and amortization	$ 9,421	$ 14,167	$ 12,317

Goodwill and Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
Opening balance	$ 1,574,466	$ 1,393,832
Goodwill relating to acquisitions consummated during the period	123,595	185,381
Impact of measurement period adjustments	(5,653)	(988)
Effect of exchange rate fluctuations	3,280	(3,759)
Closing balance	$ 1,695,688	$ 1,574,466

Goodwill and Intangible Assets - Changes in Goodwill by Reporting Unit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Goodwill [Line Items]
Opening balance	$ 1,574,466	$ 1,393,832
Goodwill relating to acquisitions consummated during the period	123,595	185,381
Impact of measurement period adjustments	(5,653)	(988)
Effect of exchange rate fluctuations	3,280	(3,759)
Closing balance	1,695,688	1,574,466
BCMI
Goodwill [Line Items]
Opening balance	417,213	398,601
Goodwill relating to acquisitions consummated during the period	2,559	20,072
Impact of measurement period adjustments	(542)	(380)
Effect of exchange rate fluctuations	942	(1,080)
Closing balance	420,172	417,213
CGRLH
Goodwill [Line Items]
Opening balance	555,130	512,296
Goodwill relating to acquisitions consummated during the period	52,612	44,365
Impact of measurement period adjustments	(1,372)	(151)
Effect of exchange rate fluctuations	1,204	(1,380)
Closing balance	607,574	555,130
HMS
Goodwill [Line Items]
Opening balance	602,123	482,935
Goodwill relating to acquisitions consummated during the period	68,424	120,944
Impact of measurement period adjustments	(3,739)	(457)
Effect of exchange rate fluctuations	1,134	(1,299)
Closing balance	$ 667,942	$ 602,123

Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill deductible for tax purposes	$ 296,046	$ 282,524
Amortization of acquired intangible assets	43,343	32,612	$ 38,850
Tangible assets write-down	14,083	3,511	4,265
Internally developed and other intangibles
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization of acquired intangible assets	27,290	18,957	2,807
Internally developed and other intangibles \| Effect of Reclassification of Foreign Exchange (Gains) Losses
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization of acquired intangible assets	$ 74	$ (76)	$ 5

Goodwill and Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	$ 750,907	$ 675,463
Accumulated amortization & Impairment	514,175	444,602
Net	236,732	230,861
Customer-Related Intangible Assets
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	478,189	415,375
Accumulated amortization & Impairment	359,652	329,724
Net	118,537	85,651
Marketing-Related Intangible Assets
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	96,561	84,180
Accumulated amortization & Impairment	61,154	50,217
Net	35,407	33,963
Technology-related intangible assets
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	152,293	149,262
Accumulated amortization & Impairment	90,866	61,150
Net	61,427	88,112
Intangible Assets Under Development
Acquired Finite Lived Intangible Assets [Line Items]
Gross carrying amount	23,864	26,646
Accumulated amortization & Impairment	2,503	3,511
Net	$ 21,361	$ 23,135

Goodwill and Intangible Assets - Schedule of Impairment Charge Recorded for Various Categories of Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Acquired Finite Lived Intangible Assets [Line Items]
Total impairment charges	$ 14,083	$ 3,511	$ 4,265
Total impairment charges	6,117	3,511	3,065
Total impairment charges	7,966		1,200
Property, Plant and Equipment
Acquired Finite Lived Intangible Assets [Line Items]
Total impairment charges	7,966		1,200
Technology-related intangible assets
Acquired Finite Lived Intangible Assets [Line Items]
Total impairment charges	5,179	$ 3,511	$ 3,065
Customer-Related Intangible Assets
Acquired Finite Lived Intangible Assets [Line Items]
Total impairment charges	$ 938

Goodwill and Intangible Assets - Estimated Amortization Schedule of Intangible Assets for Future Periods (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Goodwill And Intangible Assets Disclosure [Abstract]
2021	$ 81,753
2022	53,705
2023	42,119
2024	24,003
2025 and beyond	13,791
Intangible assets excluding under development assets	$ 215,371

Other Assets - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Assets Noncurrent Disclosure [Abstract]
Contract asset (Note 25)	$ 6,770	$ 21,176
Advance income and non-income taxes	155,035	93,277
Deposits	32,058	36,342
Derivative instruments	6,164	3,086
Prepaid expenses	5,176	6,003
Deferred billings, net*	25,357	7,858
Others	43,175	15,853
Right of use (ROU) assets finance lease	50,083	33,484
Other assets, net	$ 323,818	$ 217,079

Other Assets - Additional Information (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Assets [Line Items]
Deferred Billings	$ 25,357	$ 7,858
Allowances for credit losses	3,134	$ 0
Accounts receivable, allowance for credit loss, due after one year, current charge period	2,400
ASC 326
Other Assets [Line Items]
Transition period adjustment on accounts receivables (through retained earnings) pursuant to ASC 326	$ 734

Leases - Additional Information (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Right-of-use assets relating to finance leases

$ 50,083

$ 33,484

Finance lease Right of use asset, Statement of financial position Extensible list

us-gaap:OtherAssetsNoncurrent

Operating lease cost

^[1]

$ 88,596

$ 74,436

Amortization of ROU assets

^[2]

12,483

9,302

Rent expenses

$ 66,110

Operating lease right-of-use asset impairment charge

16,322

Write-down of operating lease right-of-use assets and other assets

^[3]

18,084

Restructuring Charges

Write-down of operating lease right-of-use assets and other assets

8,482

Effect of Reclassification of Foreign Exchange (Gains) Losses

Amortization of ROU assets

Operating lease cost

161

(105)

$ 30

$ (39)

Rent expenses

$ (195)

Maximum

Amortization of ROU assets

Lease renewal term

10 years

[1]	Included in “cost of revenue” and “selling, general and administrative expenses” in the consolidated statements of income.
[2]	Included in “depreciation and amortization” in the consolidated statements of income.
[3]	Of the total write-down, $10,244 pertains to restructuring charges for the year ended December 31, 2020. No such charges were recorded for the years ended December 31, 2018 and 2019. Refer to Notes 12 and 29 for additional details.

Leases - Components of Lease Cost of Operating and Finance Leases (Details) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Finance lease cost:

^[1]

$ 12,483

$ 9,302

Interest on lease liabilities

^[2]

2,454

2,997

Operating lease cost

^[3]

88,596

74,436

Short-term lease cost

^[3]

1,643

438

Variable lease cost

^[3]

5,347

4,052

Total lease cost

$ 110,523

$ 91,225

[1]	Included in “depreciation and amortization” in the consolidated statements of income.
[2]	Included in “interest income (expense), net” in the consolidated statements of income.
[3]	Included in “cost of revenue” and “selling, general and administrative expenses” in the consolidated statements of income.

Leases - Schedule of Other information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Weighted-average remaining lease term—finance leases	3 years 10 months 24 days	3 years 10 months 24 days
Weighted-average remaining lease term—operating leases	6 years 9 months 7 days	6 years 9 months 7 days
Weighted-average discount rate—finance leases	6.61%	9.20%
Weighted-average discount rate—operating leases	7.28%	6.87%
Operating cash flows from finance leases	$ 2,898	$ 2,859
Operating cash flows from operating leases	92,010	72,645
Financing cash flows from finance leases	$ 10,567	$ 7,380	$ 2,395

Leases - Schedule of Finance and Operating Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Finance lease
2021	$ 19,584	$ 12,019
2022	17,165	8,765
2023	10,081	6,008
2024	3,876	4,506
2025	1,000	3,445
Thereafter		1,512
Total lease payments	51,706	36,255
Less: Imputed interest	2,682	5,790
Total lease liabilities	49,024	30,465
Operating lease
2021	78,148	79,912
2022	75,288	74,736
2023	66,790	63,539
2024	56,013	57,742
2025	43,696	45,870
Thereafter	117,580	135,104
Total lease payments	437,515	456,903
Less: Imputed interest	91,673	97,139
Total lease liabilities	$ 345,842	$ 359,764

Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses and Other Current Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Accrued Liabilities And Other Liabilities [Abstract]
Accrued expenses	$ 150,390	$ 178,845
Accrued employee cost	286,399	274,000
Earn-out consideration	2,651	6,384
Statutory liabilities	104,768	62,786
Retirement benefits	1,967	1,333
Compensated absences	28,635	26,116
Derivative instruments	20,172	6,966
Contract liabilities (Note 25)	154,717	97,313
Finance lease liability	18,066	9,740
Others	39,004	20,388
Accrued expenses and other current liabilities, net	$ 806,769	$ 683,871

Long-Term Debt - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2019	Aug. 09, 2018	Aug. 08, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Maturity date of loan agreement		Aug. 08, 2023
Margin over LIBOR	1.375%	1.375%	1.375%
Debt amount outstanding		$ 1,340,908,000	$ 1,373,305,000
Genpact Luxembourg S.? r.l.
Debt Instrument [Line Items]
Debt amortization expense		2,284,000
Debt amount outstanding		$ 397,716,000
Debt instrument description		The Issuer will pay interest on the 2017 Senior Notes semi-annually in arrears on April 1 and October 1 of each year and on the 2019 Senior Notes semi-annually in arrears on June 1 and December 1 of each year, ending on the maturity dates of April 1, 2022 and December 1, 2024, respectively.
Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity					$ 500,000,000	$ 350,000,000
Term Loan Credit Facility
Debt Instrument [Line Items]
Debt amortization expense		$ 1,150,000	1,641,000
Maturity date of loan agreement		Aug. 08, 2023
Debt amount outstanding		$ 593,850,000	627,359,000
Principal amount of term loan		$ 8,500,000
Credit facility, frequency of payments		quarterly
2015 Facility
Debt Instrument [Line Items]
Margin over LIBOR	1.50%
Credit facility, base rate	0.50%
2015 Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 350,000,000
2015 Facility \| Term Loan Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	800,000,000
Outstanding term loan	550,814,000
Extinguished outstanding term loan	129,186,000
Amended 2015 Facility
Debt Instrument [Line Items]
Debt amortization expense	$ 2,029,000
Margin over LIBOR	1.375%
Credit facility, base rate	0.375%
Amended 2015 Facility \| Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 500,000,000
Debt amortization expense	$ 82,000
Maturity date of loan agreement	Aug. 08, 2023
Amended 2015 Facility \| Term Loan Credit Facility
Debt Instrument [Line Items]
Outstanding term loan	$ 680,000,000
Additional funding	129,186,000
Change to outstanding principal of term loan	$ 0
3.70% Senior Notes \| Genpact Luxembourg S.? r.l.
Debt Instrument [Line Items]
Principal amount of senior notes issued							$ 350,000,000
Interest rate on senior notes							3.70%
Total debt issuance cost							$ 2,642,000
3.375% Senior Notes \| Genpact Luxembourg S.? r.l.
Debt Instrument [Line Items]
Principal amount of senior notes issued				$ 400,000,000
Interest rate on senior notes				3.375%
Total debt issuance cost				$ 2,937,000
2017 Senior Notes \| Genpact Luxembourg S.? r.l.
Debt Instrument [Line Items]
Debt amortization expense		$ 658,000	1,186,000
Debt amount outstanding		$ 349,342,000	$ 348,814,000
Debt instrument, maturity date		Apr. 01, 2022
Debt instrument redemption price percentage		100.00%
Debt instrument redemption date		Mar. 01, 2022
Debt repurchase price as percentage of aggregate principal value upon certain change of controls		101.00%
Maximum increase in downgrade of credit rating of notes to adjust interest rate payable		2.00%
2019 Senior Notes \| Genpact Luxembourg S.? r.l.
Debt Instrument [Line Items]
Debt amortization expense		$ 2,868,000
Debt amount outstanding		$ 397,132,000
Debt instrument, maturity date		Dec. 01, 2024
Debt instrument redemption price percentage		100.00%
Debt instrument redemption date		Nov. 01, 2024
Debt repurchase price as percentage of aggregate principal value upon certain change of controls		101.00%
Maximum increase in downgrade of credit rating of notes to adjust interest rate payable		2.00%

Long-Term Debt - Maturity Profile of Term Loan Outstanding Net of Debt Amortization Expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total	$ 1,340,908	$ 1,373,305
Term Loan Credit Facility
Debt Instrument [Line Items]
2021	33,537
2022	33,564
2023	526,749
Total	$ 593,850	$ 627,359

Long-Term Debt - Summary of Long Term Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Total	$ 1,340,908	$ 1,373,305
Current portion of long-term debt	33,537	33,509
Long-term debt, less current portion	1,307,371	1,339,796
Credit facility, Net of Amortization Expenses
Debt Instrument [Line Items]
Total	593,850	627,359
3.70% Senior Notes, Net of Debt Amortization Expenses
Debt Instrument [Line Items]
Total	349,342	348,814
3.375% Senior Notes, Net of Debt Amortization Expenses
Debt Instrument [Line Items]
Total	$ 397,716	$ 397,132

Short-Term Borrowings - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Aug. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Aug. 09, 2018	Aug. 08, 2018
Line Of Credit Facility [Line Items]
Fund-based and non-fund-based credit facilities limits available		$ 14,311,000	$ 14,307,000
Utilization of credit facility for non fund-based usage		7,809,000	7,486,000
Credit facility, amount utilized		252,347,000	72,098,000
Short-term borrowings		$ 250,000,000	$ 70,000,000
Revolving credit facility, expiration month and year		Aug. 08, 2023
Margin over LIBOR	1.375%	1.375%	1.375%
Percentage of commitment fee		0.20%	0.20%
Revolving Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 500,000,000	$ 350,000,000
Non-Fund-Based Credit Facility
Line Of Credit Facility [Line Items]
Credit facility, amount utilized		$ 2,347,000	$ 2,098,000
Fund-Based Credit Facility
Line Of Credit Facility [Line Items]
Margin over LIBOR		1.375%	1.375%

Other Liabilities - Schedule of Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Other Liabilities Disclosure [Abstract]
Accrued employee cost	$ 19,797	$ 8,824
Earn-out consideration	5,621	15,800
Retirement benefits	11,947	13,067
Compensated absences	47,656	35,029
Derivative instruments	20,809	17,273
Contract liabilities	68,760	78,613
Finance lease liability	30,958	20,725
Others	32,850	19,585
Other Liabilities	$ 238,398	$ 208,916

Employee Benefit Plans - Funded Status of Defined Benefit Plans and Amount Recognized (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Projected benefit obligation at the beginning of the year	$ 80,561	$ 61,448
Service cost	11,897	8,915	$ 7,833
Actuarial loss	6,843	12,323
Interest cost	5,297	4,667	3,822
Liabilities assumed on acquisition/ transfer of employees	180	96
Benefits paid	(6,388)	(7,043)
Plan Amendments		(405)
Effect of exchange rate changes	(730)	560
Projected benefit obligation at the end of the year	97,660	80,561	61,448
Fair value of plan assets at the beginning of the year	70,900	39,683
Employer contributions	24,523	35,459
Actual gain on plan assets	5,724	3,258
Actuarial gain/(loss)	(354)	387
Benefits paid	(6,287)	(7,379)
Effect of exchange rate changes	(697)	(508)
Fair value of plan assets at the end of the year	93,809	70,900	$ 39,683
Funded status, end of year	(3,851)	(9,661)
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)	10,063	4,739
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)	(1,967)	(1,333)
Non-current liabilities (recorded under other liabilities- retirement benefits)	(11,947)	(13,067)
Funded status, end of year	(3,851)	(9,661)
Other Current Liabilities
Amounts recognized in the consolidated balance sheets
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)	(1,967)	(1,333)
Other Noncurrent Liabilities
Amounts recognized in the consolidated balance sheets
Non-current liabilities (recorded under other liabilities- retirement benefits)	$ (11,947)	$ (13,067)

Employee Benefit Plans - Amounts Included in Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Net actuarial loss	$ (24,669)	$ (21,490)	$ (11,037)
Net prior service credit / (cost)	(477)	(717)	(967)
Deferred tax assets	7,065	6,171	3,451
Other comprehensive income (loss), net	$ (18,081)	$ (16,036)	$ (8,553)

Employee Benefit Plans - Changes in Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Net Actuarial loss	$ (5,891)	$ (11,283)
Amortization of net actuarial loss	2,242	1,150
Deferred income taxes	894	2,720
Net prior service credit / (cost)	219	436
Effect of exchange rate changes	491	435
Other comprehensive income (loss), net	$ (2,045)	$ (6,542)	$ 1,454

Employee Benefit Plans - Accumulated Benefit Obligation for Defined Benefit Plans (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Accumulated benefit obligation	$ 15,441	$ 17,631
Fair value of plan assets at the end of the year	$ 5,446	$ 6,023

Employee Benefit Plans - Projected Benefit Obligation for Defined Benefit Plans (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Projected benefit obligation	$ 23,090	$ 21,659
Fair value of plan assets at the end of the year	$ 9,176	$ 7,259

Employee Benefit Plans - Additional Information (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jul. 01, 2018	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Amount of net projected benefit obligation and plan assets		$ 13,914	$ 14,400
Expected contributions in fiscal 2020		9,928
Deferred compensation plan liability		26,390	10,943
Cash surrender value of policies		26,832	11,208
Change in fair value of plan assets		4,164	1,296
Change in fair value of deferred compensation liabilities		$ 4,120	$ 1,062
U.S.
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Vesting percentage of participants	100.00%
Employer discretionary vesting period	2 years
Earnings receivable minimum term	2 years
Earnings receivable lump sum or annual installment maximum terms	15 years
One-Year Anniversary of Approval of Contribution \| U.S.
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Employer discretionary vesting percentage	50.00%
Two-Year Anniversary of Approval of Contribution \| U.S.
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Employer discretionary vesting percentage	50.00%
Minimum \| U.S.
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Individual qualifying base compensation, percentage	1.00%
Individual qualifying bonus compensation, percentage	1.00%
Maximum \| U.S.
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Individual qualifying base compensation, percentage	80.00%
Individual qualifying bonus compensation, percentage	100.00%
Benefit Obligations Of Philippines Plan \| Minimum
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Expectation of the average long term rate of return expected, years		15 years
Benefit Obligations Of Philippines Plan \| Maximum
Deferred Compensation Arrangement With Individual Excluding Share Based Payments And Postretirement Benefits [Line Items]
Expectation of the average long term rate of return expected, years		20 years

Employee Benefit Plans - Net Defined Benefit Plan Costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Service costs	$ 11,897	$ 8,915	$ 7,833
Interest costs	5,297	4,667	3,822
Amortization of actuarial loss	2,461	1,384	806
Expected return on plan assets	(4,589)	(2,605)	(2,435)
One-time cost		202
Net defined benefit plan costs	$ 15,066	$ 12,563	$ 10,026

Employee Benefit Plans - Weighted Average Assumptions used to Determine Benefit Obligations, Gratuity Plan (Detail) - Benefit Obligations Of Gratuity Plan	Dec. 31, 2020	Dec. 31, 2019
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	4.45%	6.80%
Rate of increase in compensation per annum	5.20%	5.20%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.90%	7.35%
Rate of increase in compensation per annum	9.00%	11.50%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Plan Costs, Gratuity Plan (Detail) - Gratuity Plan Costs	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Expected long-term rate of return on plan assets per annum	7.50%	7.50%	7.50%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	6.80%	8.30%	7.40%
Rate of increase in compensation per annum	5.20%	5.20%	5.20%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	7.35%	8.40%	7.60%
Rate of increase in compensation per annum	11.50%	11.00%	11.00%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Benefit Obligations, Mexican Plan (Detail) - Benefit Obligations Of Mexican Plan	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate	7.20%	7.60%
Rate of increase in compensation per annum	5.50%	5.50%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Plan Costs, Mexican Plan (Detail) - Mexican Plan Costs	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Discount rate	7.60%	9.40%	7.60%
Rate of increase in compensation per annum	5.50%	5.50%	5.50%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Benefit Obligations, Philippines Plan (Detail) - Benefit Obligations Of Philippines Plan	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.26%	5.22%
Rate of increase in compensation per annum	5.00%	6.00%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Plan Costs, Philippines Plan (Detail) - Philippines Plan Costs	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Discount rate	5.22%	7.53%	5.97%
Rate of increase in compensation per annum	6.00%	6.00%	8.00%
Expected long-term rate of return on plan assets per annum	2.40%	1.00%	4.00%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Benefit Obligations, Japan Plan (Detail) - Benefit Obligations Of Japan Plan	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation per annum	0.00%	0.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.17%	0.094%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.41%	0.271%

Employee Benefit Plans - Weighted Average Assumptions used to Determine Plan Costs, Japan Plan (Detail) - Japan Plan Costs	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation per annum	0.00%	0.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.094%	0.076%	0.113%
Rate of increase in compensation per annum			0.00%
Expected long-term rate of return on plan assets per annum	0.00%	0.00%	0.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate	0.271%	0.269%	0.789%
Rate of increase in compensation per annum			3.55%
Expected long-term rate of return on plan assets per annum	1.77%	1.77%	1.84%

Employee Benefit Plans - Fair Value of Plan Assets (Detail) - USD ($)
$ in Thousands

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Fair Value, Inputs, Level 1

$ 93,809

$ 70,900

$ 39,683

Fair Value, Inputs, Level 2

35,741

17,375

58,068

53,525

Equity

Equity | Fair Value, Inputs, Level 1

Cash

Cash | Fair Value, Inputs, Level 1

21,707

11,001

21,707

11,001

Fixed Income Securities

Fixed Income Securities | Fair Value, Inputs, Level 1

^[1]

63,444

55,821

Fixed Income Securities | Fair Value, Inputs, Level 2

^[1]

9,611

3,732

^[1]

53,833

52,089

Other Securities

Other Securities | Fair Value, Inputs, Level 1

^[2]

8,658

4,066

Other Securities | Fair Value, Inputs, Level 2

^[2]

4,423

2,630

^[2]

$ 4,235

$ 1,436

[1]	Includes investments in funds that invest 100% of their assets in fixed income securities such as money market instruments, government securities and public and private bonds.
[2]	Includes investments in funds that invest primarily in fixed income securities and the remaining portion in equity securities.

Outstanding, shares arising out of options, beginning balance

Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee.

+ References + Details

Employee Benefit Plans - Fair Value of Plan Assets (Parenthetical) (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Percentage of investment in funds	100.00%	100.00%

Employee Benefit Plans - Expected Benefit Plan Payments Reflecting Expected Future Service (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Compensation And Retirement Disclosure [Abstract]
2021	$ 12,718
2022	12,290
2023	13,879
2024	15,018
2025	15,173
2026 - 2030	80,012
Defined benefit plan expected future benefit payments	$ 149,090

Employee Benefit Plans - Amounts Contributed to Defined Contribution Plans in Various Jurisdictions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	$ 89,218	$ 88,438	$ 69,347
India
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	30,396	29,729	23,877
U.K.
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	11,543	12,312	9,619
China
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	17,361	18,819	17,625
Other Regions
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	10,427	8,177	4,772
U.S.
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	$ 19,491	$ 19,401	$ 13,454

Stock-Based Compensation - Additional Information (Detail) - USD ($)														3 Months Ended								12 Months Ended
	Dec. 23, 2020	Sep. 23, 2020	Jun. 26, 2020	Mar. 18, 2020	Dec. 18, 2019	Sep. 20, 2019	Jun. 21, 2019	Apr. 05, 2019	Mar. 20, 2019	Dec. 19, 2018	Sep. 19, 2018	Jun. 20, 2018	Mar. 21, 2018	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	May 09, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock based compensation cost																						$ 72,709,000	$ 82,802,000	$ 48,196,000
Tax benefits recognized in relation to stock-based compensation																						$ 21,832,000	18,921,000	11,783,000
Options granted, contractual period, years																						10 years
Cash dividends paid per share	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.085	$ 0.085	$ 0.085		$ 0.085	$ 0.075	$ 0.075	$ 0.075	$ 0.075	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.085	$ 0.085	$ 0.085	$ 0.085
Cash received from the exercise of stock option																						$ 14,062,000	10,690,000	10,772,000
Tax benefits from the exercise of stock option																						7,381,000	2,966,000	2,473,000
Unrecognized stock-based compensation cost for options														$ 18,352,000								18,352,000
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Excess tax benefit on stock-based compensation																						$ 7,310,000	$ 2,743,000	$ 2,131,000
Weighted average remaining requisite vesting period																						2 years 10 months 24 days
Restricted Share Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation cost for options														16,433								$ 16,433
Weighted average remaining requisite vesting period																						2 years 1 month 6 days
Restricted Share Units (RSUs) \| Granted in December 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Shares to be issued on vested awards other than options																									52,482
Restricted Share Units (RSUs) \| Vested in December 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Vested RSU issued during the period																								52,055
Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average remaining requisite vesting period																						1 year 6 months
Unrecognized stock-based compensation cost for options														$ 51,014,000								$ 51,014,000
Employee Stock Purchase Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Percentage of fair value per share allowed to eligible employees to purchase through payroll deductions																						90.00%
Maximum percentage of employee's base salary allowed to be purchased														15.00%								15.00%
Maximum dollar amount of common shares allowed to be purchased																						$ 25,000
Common shares reserved for issuance														4,200,000								4,200,000
Issuance of common shares under the employee stock purchase plan (in shares)																						315,245	264,440	245,467
Compensation expense for ESPP																						$ 1,299,000	$ 1,083,000	$ 802,000
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award, vesting period, years																						4 years
Minimum \| Restricted Share Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award, vesting period, years																						3 months
Minimum \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award, vesting period, years																						6 months
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award, vesting period, years																						5 years
Maximum \| Restricted Share Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award, vesting period, years																						4 years
Maximum \| Performance Units
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Award, vesting period, years																						3 years
2007 Omnibus Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized for issuance								23,000,000						23,858,823								23,858,823
Amended Omnibus Plan, increase in number of common shares authorized for issuance								8,000,000
2017 Omnibus Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of common shares authorized for issuance																										15,000,000

Stock-Based Compensation - Significant Assumptions used in Determination of Fair Value of Options Granted (Detail)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.89%
Expected life (in months)	84 months	84 months	84 months
Risk-free rate of interest for expected life	1.50%
Risk-free rate of interest for expected life, minimum		1.56%	2.67%
Risk-free rate of interest for expected life, maximum		2.63%	2.93%
Volatility	20.96%
Volatility, minimum		21.00%	22.55%
Volatility, maximum		21.38%	22.73%
Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield		0.82%	0.95%
Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield		1.08%	1.01%

Stock-Based Compensation - Summary of Stock Option Activity (Detail) - USD ($)
$ / shares in Units, $ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Shares arising out of options

8,360,212

7,261,675

5,134,645

Granted, shares arising out of options

431,924

1,881,068

2,638,106

Forfeited, shares arising out of options

(752,261)

(85,000)

(70,000)

Exercised, shares arising out of options

(692,634)

(697,531)

(441,076)

Outstanding, shares arising out of options, ending balance

7,347,241

8,360,212

7,261,675

5,134,645

Vested and expected to vest thereafter, shares arising out of options

^[1]

7,132,162

8,006,985

7,107,605

Vested and exercisable, shares arising out of options

2,713,405

3,111,039

3,313,570

Weighted average grant-date fair value of options granted during the period

$ 9.72

$ 6.98

$ 8.32

Weighted average exercise price

Outstanding weighted average exercise price, beginning balance

25.33

23.61

19.52

Granted, weighted average exercise price

43.94

28.50

30.47

Forfeited, weighted average exercise price

30.09

29.91

27.65

Exercised, weighted average exercise price

20.30

15.33

16.46

Outstanding weighted average exercise price, ending balance

26.41

25.33

23.61

$ 19.52

Vested and expected to vest thereafter, weighted average exercise price

^[1]

26.26

25.18

23.50

Vested and exercisable, weighted average exercise price

$ 19.40

$ 19.16

$ 17.69

Weighted average remaining contractual life (years)

Outstanding weighted average remaining contractual life (years)

5 years 8 months 12 days

6 years 6 months

6 years 4 months 24 days

5 years 7 months 6 days

Vested and expected to vest thereafter, weighted average remaining contractual life (years)

^[1]

5 years 8 months 12 days

6 years 6 months

6 years 4 months 24 days

Vested and exercisable, weighted average remaining contractual life (years)

2 years 7 months 6 days

3 years 4 months 24 days

3 years 8 months 12 days

Aggregate intrinsic value

Exercised, aggregate intrinsic value

$ 11,813

$ 18,724

$ 6,731

Outstanding aggregate intrinsic value, ending balance

110,925

140,760

34,143

Vested and expected to vest thereafter, aggregate intrinsic value

^[1]

108,671

136,017

33,997

Vested and exercisable, aggregate intrinsic value

$ 59,593

$ 71,584

$ 30,806

[1]	Options expected to vest reflect an estimated forfeiture rate.

Stock-Based Compensation - Summary of Restricted Share Units Activity (Detail) - Restricted Share Units (RSUs) - $ / shares

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Number of Restricted Share Units

Outstanding number of shares (Units), beginning balance

1,261,706

1,528,999

1,605,251

Granted, number of shares (Units)

296,332

470,939

484,427

Forfeited, number of shares (Units)

(640,212)

^[1]

(672,025)

^[2]

(358,697)

^[3]

(57,518)

(66,207)

(201,982)

Outstanding number of shares (Units), ending balance

860,308

1,261,706

1,528,999

Expected to vest, number of shares (Units)

^[4]

762,877

1,149,286

1,360,048

Weighted Average Grant Date Fair Value

Outstanding weighted average grant date fair value, beginning balance

$ 31.41

$ 27.45

$ 26.17

Granted, weighted average grant date fair value

40.40

37.58

30.13

Vested, weighted average grant date fair value

28.28

^[1]

26.84

^[2]

25.53

^[3]

Forfeited, weighted average grant date fair value

37.35

30.43

27.09

Outstanding weighted average grant date fair value, ending balance

$ 36.44

$ 31.41

$ 27.45

[1]	590,699 RSUs that vested during the period were net settled upon vesting by issuing 385,197 shares (net of minimum statutory tax withholding). 49,513 RSUs vested in the year ended December 31, 2020, shares in respect of which will be issued in 2021 after withholding shares to the extent of minimum statutory withholding taxes.
[2]	637,933 RSUs that vested during the period were net settled upon vesting by issuing 521,707 shares (net of minimum statutory tax withholding). 34,092 RSUs vested in the year ended December 31, 2019, shares in respect of which will be issued in 2021 after withholding shares to the extent of minimum statutory withholding taxes .
[3]	261,260 RSUs that vested during the period were net settled upon vesting by issuing 175,505 shares (net of minimum statutory tax withholding). 52,875 RSUs vested in the year ended December 31, 2017, 52,405 shares in respect of which were issued in 2019 after withholding shares to the extent of minimum statutory withholding taxes. 44,562 RSUs vested in the year ended December 31, 2018, shares in respect of which 44,165 shares were issued in 2020 after withholding shares to the extent of minimum statutory withholding taxes.
[4]	RSUs expected to vest reflect an estimated forfeiture rate.

Stock-Based Compensation - Summary of Restricted Share Units Activity (Parenthetical) (Detail) - Restricted Share Units (RSUs) - shares

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Dec. 31, 2017

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

RSUs settled on vesting by issuing shares (net of minimum tax withholding)

640,212

^[1]

672,025

^[2]

358,697

^[3]

385,197

521,707

175,505

Vested and Settled During 2018

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vested in December 31, 2017

261,260

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Shares to be issued on vested awards other than options

52,875

Vested in December 31, 2018

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vested in December 31, 2019

44,562

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vested RSU issued during the period

34,092

52,405

Vested in December 31, 2020

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vested RSU issued during the period

49,513

44,165

Vested and Settled During 2019

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Vested and Settled During 2020

637,933

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Outstanding number of shares (Units), beginning balance

590,699

[1]	590,699 RSUs that vested during the period were net settled upon vesting by issuing 385,197 shares (net of minimum statutory tax withholding). 49,513 RSUs vested in the year ended December 31, 2020, shares in respect of which will be issued in 2021 after withholding shares to the extent of minimum statutory withholding taxes.
[2]	637,933 RSUs that vested during the period were net settled upon vesting by issuing 521,707 shares (net of minimum statutory tax withholding). 34,092 RSUs vested in the year ended December 31, 2019, shares in respect of which will be issued in 2021 after withholding shares to the extent of minimum statutory withholding taxes .
[3]	261,260 RSUs that vested during the period were net settled upon vesting by issuing 175,505 shares (net of minimum statutory tax withholding). 52,875 RSUs vested in the year ended December 31, 2017, 52,405 shares in respect of which were issued in 2019 after withholding shares to the extent of minimum statutory withholding taxes. 44,562 RSUs vested in the year ended December 31, 2018, shares in respect of which 44,165 shares were issued in 2020 after withholding shares to the extent of minimum statutory withholding taxes.

Stock-Based Compensation - Summary of Performance Units Activity (Detail) - Performance Units - $ / shares

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Number of Performance Units

6,058,464

3,712,402

2,900,940

Granted, number of shares (Units)

1,253,766

1,579,109

1,682,740

Forfeited, number of shares (Units)

(1,496,377)

^[1]

(3,276)

^[2]

(1,087,751)

^[3]

(539,670)

(248,031)

(258,237)

Adjustment upon final determination of level of performance goal achievement

(399,987)

^[4]

1,018,260

^[5]

474,800

^[6]

Outstanding number of shares (Units), ending balance

4,876,196

6,058,464

3,712,402

Expected to vest, number of shares (Units)

^[7]

4,573,356

5,507,640

3,261,069

Weighted Average Grant Date Fair Value

Outstanding weighted average grant date fair value, beginning balance

$ 31.07

$ 28.40

$ 24.40

Granted, weighted average grant date fair value

42.49

34.68

30.62

Vested, weighted average grant date fair value

25.21

^[1]

27.47

^[2]

22.73

^[3]

Forfeited, weighted average grant date fair value

33.77

29.04

26.03

Adjustment upon final determination of level of performance goal achievement

42.60

^[4]

34.72

^[5]

30.68

^[6]

Outstanding weighted average grant date fair value, ending balance

$ 34.56

$ 31.07

$ 28.40

Maximum shares eligible to receive

Outstanding maximum shares eligible to receive, beginning balance

6,058,464

3,712,402

2,900,940

Granted, maximum shares eligible to receive

2,507,532

3,158,218

3,365,480

Vested, maximum shares eligible to receive

(1,496,377)

^[1]

(3,276)

^[2]

(1,087,751)

^[3]

Forfeited, maximum shares eligible to receive

(560,867)

(278,755)

(305,737)

Adjustment upon final determination of level of performance goal achievement

(1,632,556)

^[8]

(530,125)

^[9]

(1,160,530)

^[10]

Outstanding maximum shares eligible to receive, ending balance

4,876,196

6,058,464

3,712,402

[1]	Vested PUs were net settled upon vesting by issuing 902,532 shares (net of minimum statutory tax withholding).
[2]	Vested PUs were net settled upon vesting by issuing 2,151 shares (net of minimum statutory tax withholding).
[3]	Vested PUs were net settled upon vesting by issuing 691,958 shares (net of minimum statutory tax withholding).
[4]	Represents a 32.98% decrease in the number of target shares expected to vest as a result of achievement of lower-than-target performance for PUs granted in 2020, partially offset by an adjustment made in March 2020 to the number of shares subject to the PUs granted in 2019 upon certification of the level of achievement of the performance targets underlying such awards.
[5]	Represents a 66.67% increase in the number of target shares expected to vest as a result of achievement of higher-than-target performance for PUs granted in 2019 partially offset by an adjustment made in March 2019 to the number of shares subject to the PUs granted in 2018 upon certification of the level of achievement of the performance targets underlying such awards.
[6]	Represents a 28.77% increase in the number of target shares expected to vest as a result of achievement of higher-than-target performance for PUs granted in 2018, partially offset by an adjustment made in March 2018 to the number of shares subject to the PUs granted in 2017 upon certification of the level of achievement of the performance targets underlying such awards.
[7]	PUs expected to vest are based on the probable achievement of the performance targets after considering an estimated forfeiture rate.
[8]	Represents the difference between the maximum number of shares achievable and the number of shares expected to vest under the PU awards granted in 2020 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2020 to the number of shares subject to the PUs granted in 2019 upon certification of the level of achievement of the performance targets underlying such awards.
[9]	Represents the difference between the maximum number of shares achievable and the number of shares expected to vest under the PU awards granted in 2019 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2019 to the number of shares subject to the PUs granted in 2018 upon certification of the level of achievement of the performance targets underlying such awards.
[10]	Represents the difference between the maximum number of shares achievable and the number of shares expected to vest under the PU awards granted in 2018 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2018 to the number of shares subject to the PUs granted in 2017 upon certification of the level of achievement of the performance targets underlying such awards.

Stock-Based Compensation - Summary of Performance Units Activity (Parenthetical) (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net settlement on vesting of performance units (in shares)	902,532	2,151	691,958
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeited, number of shares (Units)	539,670	248,031	258,237
Increase due to achievement of higher-than-target performance for grants in 2017/2018, percentage	32.98%	66.67%	28.77%

Capital Stock - Additional Information (Detail) - USD ($)																1 Months Ended	3 Months Ended								12 Months Ended
	Dec. 23, 2020	Sep. 23, 2020	Jun. 26, 2020	Mar. 18, 2020	Feb. 06, 2020	Dec. 18, 2019	Sep. 20, 2019	Jun. 21, 2019	Mar. 20, 2019	Feb. 07, 2019	Dec. 19, 2018	Sep. 19, 2018	Jun. 20, 2018	Mar. 21, 2018	Feb. 12, 2018	Feb. 28, 2017	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Class Of Stock [Line Items]
Common shares, authorized																	500,000,000				500,000,000				500,000,000	500,000,000
Common shares, par value																	$ 0.01				$ 0.01				$ 0.01	$ 0.01
Preferred shares, authorized																	250,000,000				250,000,000				250,000,000	250,000,000
Preferred shares, par value																	$ 0.01				$ 0.01				$ 0.01	$ 0.01
Common shares, issued																	189,045,661				190,118,181				189,045,661	190,118,181
Common shares, outstanding																	189,045,661				190,118,181				189,045,661	190,118,181
Preferred shares, issued																	0				0				0	0
Preferred shares, outstanding																	0				0				0	0
Common stock voting right																									Holders of common shares are entitled to one vote per share.
Stock repurchase authorized amount																	$ 1,250,000,000								$ 1,250,000,000
Shares repurchased and retired (in shares)																									3,412,293	766,154	4,921,192
Common stock shares repurchased price per share																									$ 40.16	$ 39.16	$ 31.30
Aggregate amount of common stock shares repurchased																									$ 137,112,000	$ 30,015,000	$ 154,156,000
Expenses related to stock purchases																									68,000	$ 15,000	$ 98,000
Stock Repurchase Program, Remaining Authorized Repurchase Amount																	$ 136,998,000								$ 136,998,000
Percentage Increase In Quarterly Cash Dividend					15.00%					13.00%					25.00%
Quarterly dividend declared					$ 0.0975					$ 0.085					$ 0.075	$ 0.06									$ 39	$ 0.34	$ 0.30
Planned annual dividend					$ 0.39					$ 0.34					$ 0.30	$ 0.24
Initial dividend paid	$ 18,437,000	$ 18,637,000	$ 18,595,000	$ 18,543,000		$ 16,156,000	$ 16,156,000	$ 16,188,000	$ 16,119,000		$ 14,201,000	$ 14,253,000	$ 14,240,000	$ 14,408,000
Dividends paid per share	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.0975		$ 0.085	$ 0.085	$ 0.085	$ 0.085		$ 0.075	$ 0.075	$ 0.075	$ 0.075			$ 0.0975	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.085	$ 0.085	$ 0.085	$ 0.085
First Quarter Dividend
Class Of Stock [Line Items]
Dividend payment date					Mar. 18, 2020					Mar. 20, 2019					Mar. 21, 2018
Dividends payable, date of record					Mar. 09, 2020					Mar. 08, 2019					Mar. 09, 2018
Second Quarter Dividend
Class Of Stock [Line Items]
Dividend payment date					Jun. 26, 2020					Jun. 21, 2019					Jun. 20, 2018
Dividends payable, date of record					Jun. 11, 2020					Jun. 12, 2019					Jun. 08, 2018
Third Quarter Dividend
Class Of Stock [Line Items]
Dividend payment date					Sep. 23, 2020					Sep. 20, 2019					Sep. 19, 2018
Dividends payable, date of record					Sep. 11, 2020					Sep. 11, 2019					Sep. 10, 2018
Fourth Quarter Dividend
Class Of Stock [Line Items]
Dividend payment date					Dec. 23, 2020					Dec. 18, 2019					Dec. 19, 2018
Dividends payable, date of record					Dec. 09, 2020					Dec. 09, 2019					Dec. 10, 2018
Share Repurchase Open Market
Class Of Stock [Line Items]
Aggregate amount of common stock shares repurchased																									$ 137,044,000	$ 30,000,000	$ 154,058,000
Accelerated Share Repurchase Agreement
Class Of Stock [Line Items]
Shares repurchased and retired (in shares)																											163,975	6,928,953
Common stock shares repurchased price per share																											$ 28.20	$ 28.20
Aggregate purchase price of common shares																												$ 200,000,000

Earnings Per Share - Additional Information (Detail) - shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share [Abstract]
Number of stock awards outstanding but not included in the computation of diluted earnings per common share	1,182,572	1,809,069	2,410,230

Earnings Per Share - Schedule of Earnings Per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Earnings Per Share (Abstract)
Net income available to Genpact Limited common shareholders									$ 308,276	$ 304,881	$ 282,019
Weighted average number of common shares used in computing basic earnings per common share	189,470,107	190,949,108	190,541,148	190,626,757	190,083,647	190,599,049	190,163,359	189,451,845	190,396,780	190,074,475	190,674,740
Dilutive effect of stock-based awards									5,384,191	5,086,380	3,305,298
Weighted average number of common shares used in computing dilutive earnings per common share	194,823,683	196,655,140	195,112,549	196,532,513	196,592,325	195,890,841	194,766,047	193,394,208	195,780,971	195,160,855	193,980,038
Basic	$ 0.40	$ 0.45	$ 0.33	$ 0.45	$ 0.43	$ 0.46	$ 0.39	$ 0.32	$ 1.62	$ 1.60	$ 1.48
Diluted	$ 0.38	$ 0.43	$ 0.32	$ 0.44	$ 0.42	$ 0.45	$ 0.38	$ 0.31	$ 1.57	$ 1.56	$ 1.45

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Other Income And Expenses [Abstract]

Other Operating (Income) Expense, Net - Schedule of Other Operating (Income) Expense, Net (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Write-down of intangible assets and property, plant and equipment*

^[1]

$ 14,083

$ 3,511

$ 4,265

Write-down of operating lease right-of-use assets and other assets

^[2]

18,084

Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions)

(7,790)

(5,655)

Other operating (income) expense#

^[3]

(5,046)

(34,545)

(455)

Other operating (income) expense, net

$ 19,331

$ (31,034)

$ (1,845)

[1]	Refer to Notes 10 and 29 for additional information about other operating (income) expense, net for the year ended December 31, 2020.
[2]	Of the total write-down, $10,244 pertains to restructuring charges for the year ended December 31, 2020. No such charges were recorded for the years ended December 31, 2018 and 2019. Refer to Notes 12 and 29 for additional details.
[3]	Includes gain of $31,380 for the year ended December 31, 2019 on land rights transferred to a third-party real estate developer in exchange for an interest in commercial property being developed on the land.

Other operating (income) expense, net - Schedule of Other Operating (Income) Expense, Net (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income And Expenses [Abstract]
Write-down related to restructuring Charge	$ 10,244	$ 0	$ 0
Non-cash transaction: Gain on land rights transferred		$ 31,380

Interest Income (Expense), Net - Schedule of Interest Income (Expense), Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Income And Expenses [Abstract]
Interest income	$ 7,284	$ 7,321	$ 11,388
Interest expense	(56,244)	(50,779)	(48,507)
Interest income (expense), net	$ (48,960)	$ (43,458)	$ (37,119)

Income Taxes - Income Tax Expense (Benefit) (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Income Tax Disclosure [Line Items]

Income tax expense

$ 92,201

$ 94,536

$ 80,763

Other comprehensive income:

Unrealized gains (losses) on cash flow hedges

(3,327)

(4,058)

^[1]

(6,647)

^[1]

Retirement benefits

(894)

(2,720)

(1,407)

Deferred tax expense (benefit)

(22,587)

$ (16,315)

6,054

ASU 2018-02

Reclassification from AOCI on early adoption of ASU 2018-02

2,265

Reclassification to retained earnings on early adoption of ASU 2018-02

(2,265)

ASU 2014-09 | Deferred tax expense

Deferred tax expense recognized on adoption of ASU 2014-09

$ 5,303

Acccounting Standards Update201613 | Deferred Tax Assets

Deferred tax expense (benefit)

$ (935)

[1]	*The tax (expense) benefit includes the effect of novating certain hedging instruments as part of an intercompany transfer.

Income Taxes - Components of Income before Income Tax Expense from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic (U.S.)	$ 122,497	$ 27,783	$ 49,986
Foreign (other than U.S.)	277,980	371,634	312,035
Income before income tax expense	$ 400,477	$ 399,417	$ 362,021

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Income before income tax expense

Income Taxes - Income Tax Expense (Benefit) Attributable to Income from Continuing Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current tax expense:
Domestic (U.S. federal)	$ 23,668	$ 2,854	$ 6,466
Domestic (U.S. state)	10,765	3,908	3,508
Foreign (other than U.S.)	80,355	104,089	64,735
Current Income Tax Expense (Benefit), Total	114,788	110,851	74,709
Deferred tax expense (benefit):
Domestic (U.S. federal)	(7,329)	2,669	6,577
Domestic (U.S. state)	(3,770)	(1,679)	(1,176)
Foreign (other than U.S.)	(11,488)	(17,305)	653
Deferred Income Tax Expense (Benefit), Total	(22,587)	(16,315)	6,054
Total income tax expense (benefit)	$ 92,201	$ 94,536	$ 80,763

Income Taxes - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Line Items]
U.S. federal corporate income tax rate	21.00%	21.00%	21.00%
Internal restructuring transfer of marketing intangibles in exchange of equity and promissory note	$ 650,000
Income tax expense attributable to continuing operations	7,310	$ 2,743	$ 2,131
Net operating loss carryforwards	143,521
Deferred tax assets related to net operating loss carryforwards, excluding state	33,551
Net operating loss of subsidiary, carried forward	53,881
Additional deferred tax assets for U.S. state and local tax loss carry-forwards	$ 3,727
Operating loss carry-forwards, expiration date, range start	2021
Operating loss carry-forwards, expiration date, range end	2039
Tax credit carry-forward	$ 8,692
Cash and cash equivalents held by foreign (non-Bermuda) subsidiaries	666,054
Cash and cash equivalents	680,440	467,096
Cash held by foreign subsidiary	12,220
Cash and cash equivalents held by foreign (non-Bermuda) subsidiaries for which no tax will accrue on repatriation of retained earnings indefinitely reinvested	653,834
Unrecognized tax benefits that would impact effective tax rate	34,300	29,835
Unrecognized tax benefits, interest on income taxes accrued	6,369	5,812
Unrecognized tax benefits, including exchange rate differences for interest recognized	662	826	467
Accrued penalties	900	$ 1,048
ASU 2018-02
Income Tax Disclosure [Line Items]
Stranded tax effect in AOCI resulting from the Tax Act	2,265		$ 2,265
Retained Earnings
Income Tax Disclosure [Line Items]
Repatriation of retained earnings	16,400
Foreign Tax Authority
Income Tax Disclosure [Line Items]
Tax credit carry-forward	$ 8,692
Begin to Expire Date
Income Tax Disclosure [Line Items]
Tax holiday, expiring date	March 31, 2022
Fully Expired Date
Income Tax Disclosure [Line Items]
Tax holiday, expiring date	March 31, 2035
Tax Holiday For First 5 Years
Income Tax Disclosure [Line Items]
Tax holiday, period, in years	5 years
Percentage of tax holiday in respect to export profits	100.00%
Tax Holiday from year 6 to year 10
Income Tax Disclosure [Line Items]
Tax holiday, period, in years	5 years
Percentage of tax holiday in respect to export profits	50.00%
Tax Holiday from year 11 to year 15
Income Tax Disclosure [Line Items]
Tax holiday, period, in years	5 years
Percentage of tax holiday in respect to export profits	50.00%
Basic and Diluted Earnings Per Share
Income Tax Disclosure [Line Items]
Earnings per share effect of tax holiday	$ 0.08	$ 0.11	$ 0.12

Income Taxes - Income Tax Expense (Benefit) Computed by Applying United States Federal Statutory Income Tax Rate to Income Before Income Taxes (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

Income Tax Disclosure [Abstract]

$ 400,477

$ 399,417

$ 362,021

U.S. federal corporate income tax rate

21.00%

Computed expected income tax expense

$ 84,100

$ 83,878

$ 76,024

Increase (decrease) in income taxes resulting from:

Foreign tax rate differential

16,295

34,566

23,373

Tax benefit from tax holiday

(16,063)

(21,393)

(23,003)

Non-deductible expenses

372

2,152

3,245

Effect of change in tax rates

453

6,497

(147)

Change in valuation allowance

142,733

10,515

27,826

Unrecognized tax benefits

3,228

5,502

3,008

Employment related tax incentive

(5,239)

(3,243)

Internal restructuring

(129,688)

(2,859)

State taxes

6,995

2,229

2,332

Excess tax benefit on share-based compensation

(7,310)

(2,743)

(2,131)

Other

^[1]

(8,914)

(21,428)

(23,662)

Total income tax expense (benefit)

$ 92,201

$ 94,536

$ 80,763

[1]

Following the transfer/closure of certain affiliated entities, deferred tax liabilities recorded against the outside basis difference were reversed amounting to $18,510 and $3,782 during the years ended December 31, 2018 and 2019. Additionally, during the years ended December 31, 2019 and 2020, the Company created a deferred tax asset on the impairment of one of its intercompany investments for income tax purposes amounting to $8,069 and $8,384. It was not more likely than not that the resulting net deferred tax asset would be realized. Therefore, a full valuation allowance was established.

Income Taxes - Income Tax Expense (Benefit) Computed by Applying United States Federal Statutory Income Tax Rate to Income Before Income Taxes (Parenthetical) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Reversal of deferred tax liabilities due to transfer/closure of certain affiliated entities		$ 3,782	$ 18,510
Impairment of deferred tax asset	$ 8,384	$ 8,069

Income Taxes - Components of Deferred Tax Balances (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets
Net operating loss carryforwards	$ 37,278	$ 66,448
Accrued expenses and other liabilities	70,634	50,678
Provision for doubtful debts	9,930	10,583
Property, plant and equipment and right-of-use assets, net	14,394	11,569
Share-based compensation	35,424	30,192
Intangible assets, net	165,347	2,640
Retirement benefits	14,761	11,332
Contract liabilities	6,080	4,437
Tax credit carryforwards	8,692	10,739
Others	14,619	10,294
Gross deferred tax assets	377,159	208,912
Less: Valuation allowance	(206,011)	(62,628)	$ (51,986)	$ (24,549)
Total deferred tax assets	171,148	146,284
Deferred tax liabilities
Intangible assets, net	21,884	24,819
Property, plant and equipment, net	3,700	6,067
Deferred cost	1,178	2,665
Investments in foreign subsidiaries not indefinitely reinvested	2,726	1,401
Derivative instruments	2,810	2,722
Goodwill	18,649	11,793
Others	15,043	11,092
Total deferred tax liabilities	65,990	60,559
Net deferred tax asset	105,158	85,725
Deferred tax assets	106,674	89,715
Deferred tax liabilities	$ 1,516	$ 3,990

Income Taxes - Change in Total Valuation Allowance for Deferred Tax Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Opening valuation allowance	$ 62,628	$ 51,986	$ 24,549
Reduction during the year	(35,662)	(4,240)	(2,307)
Addition during the year	179,045	14,882	29,744
Closing valuation allowance	$ 206,011	$ 62,628	$ 51,986

Income Taxes - Remaining Operating Loss Carryforwards Expiration (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
US - Federal
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	$ 222
US - Federal \| 2037
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	222
Europe
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	84,574
Europe \| 2021
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	673
Europe \| 2022
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	2,575
Europe \| 2023
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	727
Europe \| 2024
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	1,381
Europe \| 2025
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	4,955
Europe \| 2034
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	18,820
Europe \| 2035
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	7,357
Europe \| 2036
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	48,086
Others
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	4,844
Others \| 2021
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	544
Others \| 2022
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	305
Others \| 2023
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	1,199
Others \| 2024
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	2,534
Others \| 2025
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	1
Others \| 2040
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	$ 261

Income Taxes - Foreign Tax Credit Expiry Period (Detail) $ in Thousands	Dec. 31, 2020 USD ($)
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	$ 8,692
2021
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	132
2027
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	90
2028
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	4,846
2029
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	3,300
2035
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	$ 324

Income Taxes - Activities Related to Unrecognized Tax Benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Income Tax Uncertainties [Abstract]
Beginning balance	$ 31,029	$ 26,722
Increase related to prior year tax positions, including recorded in acquisition accounting	2,875	1,684
Decrease related to prior year tax positions	(1,309)	(1,232)
Decrease related to prior year tax position due to lapse of applicable statute of limitation	(287)	(135)
Increase related to current year tax positions, including recorded in acquisition accounting	2,454	4,270
Decrease related to settlements with tax authorities	(317)
Effect of exchange rate changes	(145)	(280)
Ending balance	$ 34,300	$ 31,029

Segment Reporting - Revenues and Adjusted Income from Operations by Reportable Segments (Detail) - USD ($)
$ in Thousands

3 Months Ended

12 Months Ended

Dec. 31, 2020

Sep. 30, 2020

Jun. 30, 2020

Mar. 31, 2020

Dec. 31, 2019

Sep. 30, 2019

Jun. 30, 2019

Mar. 31, 2019

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 950,568

$ 935,523

$ 900,094

$ 923,192

$ 940,739

$ 888,799

$ 881,799

$ 809,206

$ 3,709,377

$ 3,520,543

$ 3,000,790

Amortization and impairment of acquired intangible assets (other than included above)

588,808

558,841

473,314

Stock-based compensation

(74,008)

(83,885)

(48,998)

(43,648)

(31,458)

(37,292)

Acquisition-related expenses

(2,650)

(8,352)

(2,362)

Foreign exchange gains (losses), net

7,482

7,729

15,239

Interest income (expense), net

(48,960)

(43,458)

(37,119)

Restructuring expenses (refer (a) below and Note 29)

(26,547)

Income tax expense

(92,201)

(94,536)

(80,763)

Net income attributable to Genpact Limited shareholders

308,276

304,881

282,019

Operating Segments

3,732,673

3,535,013

2,987,968

Operating Segments | BCMI

574,302

515,642

442,626

1,079,193

1,078,844

1,079,673

Operating Segments | CGRLH

132,939

115,998

148,712

1,264,654

1,107,534

903,225

197,197

161,515

116,705

Operating Segments | HMS

1,388,826

1,348,635

1,005,070

244,166

238,129

177,209

Corporate | Others

(23,296)

^[1]

(14,470)

12,822

^[2]

$ 14,506

^[1]

$ 43,199

^[3],[4]

$ 30,688

^[2]

[1]	Adjusted income from operations for “Others” primarily represents the impact of over-absorption of overhead, unallocated allowances for credit losses, impairments related to operating ROU assets and property, plant and equipment, and foreign exchange fluctuations, which are not allocated to the Company’s segments for management’s internal reporting purposes
[2]	Revenues, net for “Others” primarily represents the impact of foreign exchange fluctuations, which is not allocated to the Company’s segments for management’s internal reporting purposes. AOI for “Others” primarily represents government incentives and the impact of foreign exchange fluctuations which are not allocated to the Company’s segments for management’s internal reporting purposes
[3]	Includes $10,524 toward the accelerated charge of a contract cost asset relating to a wealth management platform used in the Company’s BCMI segment that the Company no longer plans to leverage beyond its current scope. If this charge had been recorded in the BCMI segment in the year ended December 31, 2019, AOI for the Company’s BCMI segment in 2019 would have been $105,474, with a corresponding increase in AOI of “Others” to $53,723.
[4]	Revenues, net for “Others” primarily represents the impact of foreign exchange fluctuations, which is not allocated to the Company’s segments for management’s internal reporting purposes. Adjusted income from operations for “Others” primarily represents gains related to a transfer of land, government incentives and the impact of foreign exchange fluctuations, which are not allocated to the Company’s segments for management’s internal reporting purposes

Segment Reporting - Revenues and Adjusted Income from Operations by Reportable Segments (Parenthetical) (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Wealth Management Platform
Segment Reporting Information [Line Items]
Accelerated Charge Of Contract Cost Asset	$ 10,524
BCMI
Segment Reporting Information [Line Items]
Adjusted income from operations net of accelerated charge of contract cost asset	105,474
Others
Segment Reporting Information [Line Items]
Adjusted income from operations before accelerated charge of contract cost asset	$ 53,723

Segment Reporting - Additional Information (Detail)	12 Months Ended
Segment Reporting - Additional Information (Detail)	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
HMS
Segment Reporting Disclosure [Line Items]
Percentage of revenues	12.00%	14.00%	9.00%

Segment Reporting - Net Revenues from Geographic Areas Based on Location of Service Delivery Centers (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total net revenues	$ 950,568	$ 935,523	$ 900,094	$ 923,192	$ 940,739	$ 888,799	$ 881,799	$ 809,206	$ 3,709,377	$ 3,520,543	$ 3,000,790
India
Segment Reporting Information [Line Items]
Total net revenues									1,851,347	1,890,897	1,739,455
Asia, other than India
Segment Reporting Information [Line Items]
Total net revenues									461,839	356,726	327,462
North and Latin America
Segment Reporting Information [Line Items]
Total net revenues									1,007,635	863,748	641,716
Europe
Segment Reporting Information [Line Items]
Total net revenues									$ 388,556	$ 409,172	$ 292,157

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
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-Section S99
-Paragraph 1
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-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

Segment Reporting - Property, Plant and Equipment, Net by Geographic Areas (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	$ 231,122	$ 254,035
India
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	157,129	161,227
Asia, other than India
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	16,790	17,212
North and Latin America
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	44,934	58,499
Europe
Revenues From External Customers And Long Lived Assets [Line Items]
Property, plant and equipment, net	$ 12,269	$ 17,097

Net Revenues - Net Revenues Disaggregated by Customer (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Total net revenues	$ 950,568	$ 935,523	$ 900,094	$ 923,192	$ 940,739	$ 888,799	$ 881,799	$ 809,206	$ 3,709,377	$ 3,520,543	$ 3,000,790
General Electric Company
Segment Reporting Information [Line Items]
Total net revenues									458,850	478,091	268,210
Global Clients
Segment Reporting Information [Line Items]
Total net revenues									$ 3,250,527	$ 3,042,452	$ 2,732,580