0001398659-22-000009 | 10-K | XBRL Viewer

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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 899,458	$ 680,440
Accounts receivable, net of allowance for credit losses of $27,707 and $24,329 as of December 31, 2020 and 2021, respectively	887,742	881,020
Prepaid expenses and other current assets	134,441	187,408
Total current assets	1,921,641	1,748,868
Property, plant and equipment, net	215,089	231,122
Operating lease right-of-use assets	270,603	304,714
Deferred tax assets	106,322	106,674
Intangible assets, net	169,635	236,732
Goodwill	1,731,027	1,695,688
Contract cost assets	238,794	225,897
Other assets, net of allowance for credit losses of $3,134 and $3,711 as of December 31, 2020 and 2021, respectively	322,158	323,818
Total assets	4,975,269	4,873,513
Current liabilities
Short-term borrowings	0	250,000
Current portion of long-term debt	383,433	33,537
Accounts payable	24,984	13,910
Income taxes payable	47,353	41,941
Accrued expenses and other current liabilities	791,440	806,769
Operating leases liability	61,591	56,479
Total current liabilities	1,308,801	1,202,636
Long-term debt, less current portion	1,272,476	1,307,371
Operating leases liability	247,707	289,363
Deferred tax liabilities	3,942	1,516
Other liabilities	245,210	238,398
Total liabilities	3,078,136	3,039,284
Shareholders' equity
Preferred shares, $0.01 par value, 250,000,000 authorized, none issued	0	0
Common shares, $0.01 par value, 500,000,000 authorized, 189,045,661 and 185,336,357 issued and outstanding as of December 31, 2020 and 2021, respectively	1,847	1,885
Additional paid-in capital	1,717,165	1,636,026
Retained earnings	732,474	741,658
Accumulated other comprehensive income (loss)	(554,353)	(545,340)
Total equity	1,897,133	1,834,229
Commitments and contingencies
Total liabilities and equity	$ 4,975,269	$ 4,873,513

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 24,329	$ 27,707	$ 29,969	$ 23,960
Allowance for credit losses, other assets	$ 3,711	$ 3,134
Preferred shares, par value (in usd per share)	$ 0.01	$ 0.01
Preferred shares, authorized (in shares)	250,000,000	250,000,000
Preferred shares, issued (in shares)	0	0
Common shares, par value (in usd per share)	$ 0.01	$ 0.01
Common shares, authorized (in shares)	500,000,000	500,000,000
Common shares, issued (in shares)	185,336,357	189,045,661
Common shares, outstanding (in shares)	185,336,357	189,045,661

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Statement [Abstract]
Net revenues	$ 4,022,211	$ 3,709,377	$ 3,520,543
Cost of revenue	2,590,252	2,418,137	2,294,688
Gross profit	1,431,959	1,291,240	1,225,855
Operating expenses:
Selling, general and administrative expenses	865,715	789,849	794,901
Amortization of acquired intangible assets	58,448	43,343	32,612
Other operating (income) expense, net	(1,203)	19,331	(31,034)
Income from operations	508,999	438,717	429,376
Foreign exchange gains (losses), net	12,669	7,482	7,729
Interest income (expense), net	(51,434)	(48,960)	(43,458)
Other income (expense), net	12,895	3,238	5,786
Income before equity-method investment activity, net and income tax expense	483,129	400,477	399,433
Equity-method investment activity, net	0	0	(16)
Income before income tax expense	483,129	400,477	399,417
Income tax expense	113,681	92,201	94,536
Net income	$ 369,448	$ 308,276	$ 304,881
Earnings per common share
Earnings per common share, basic (in usd per share)	$ 1.97	$ 1.62	$ 1.60
Earnings per common share, diluted (in usd per share)	$ 1.91	$ 1.57	$ 1.56
Weighted average number of common shares used in computing earnings per common share
Weighted average number of common shares used in computing basic earnings per common share (in shares)	187,802,219	190,396,780	190,074,475
Weighted average number of common shares used in computing dilutive earnings per common share (in shares)	192,961,841	195,780,971	195,160,855

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 369,448	$ 308,276	$ 304,881
Other comprehensive income:
Currency translation adjustments	(39,725)	(7,871)	(20,297)
Net income (loss) on cash flow hedging derivatives, net of taxes (Note 7)	23,124	(3,468)	2,343
Retirement benefits, net of taxes	(7,588)	2,045	6,542
Other comprehensive income (loss)	(9,013)	(13,384)	(24,496)
Comprehensive income (loss)	$ 360,435	$ 294,892	$ 280,385

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Common shares	Common shares Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid- in Capital	Additional Paid- in Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjusted Balance
Beginning balance, value (in shares) at Dec. 31, 2018				189,346,101
Beginning balance, value at Dec. 31, 2018	$ 1,404,182			$ 1,888		$ 1,471,301		$ 438,453			$ (507,460)
Issuance of common shares on exercise of options (Note 18) (in shares)	697,531			697,531
Issuance of common shares on exercise of options (Note 18)	$ 10,690			$ 7		10,683
Issuance of common shares under the employee stock purchase plan (Note 18) (in shares)				264,440
Issuance of common shares under the employee stock purchase plan (Note 18)	8,980			$ 3		8,977
Net settlement on vesting of restricted share units (Note 18) (in shares)				574,112
Net settlement on vesting of restricted share units (Note 18)	$ (4,265)			$ 6		(4,271)
Net settlement on vesting of performance units (Note 18) (in shares)				2,151
Stock repurchased and retired (Note 19( (in shares)	(766,154)			(766,154)
Stock repurchased and retired (Note 19)	$ (30,000)			$ (8)		0		(29,992)
Expenses related to stock repurchase (Note 19)	(15)							(15)
Stock-based compensation expense (Note 18)	83,885					83,885
Comprehensive income (loss):
Net income (loss)	304,881							304,881
Other comprehensive income (loss)	(24,496)										(24,496)
Dividend	(64,671)							(64,671)
End balance, value (in shares) at Dec. 31, 2019				190,118,181	190,118,181
End balance, value at Dec. 31, 2019	$ 1,689,171	$ (3,984)	$ 1,685,187	$ 1,896	$ 1,896	1,570,575	$ 1,570,575	648,656	$ (3,984)	$ 644,672	(531,956)	$ (531,956)
Issuance of common shares on exercise of options (Note 18) (in shares)	692,634			692,634
Issuance of common shares on exercise of options (Note 18)	$ 14,062			$ 7		14,055
Issuance of common shares under the employee stock purchase plan (Note 18) (in shares)				315,245
Issuance of common shares under the employee stock purchase plan (Note 18)	11,073			$ 3		11,070
Net settlement on vesting of restricted share units (Note 18) (in shares)				429,362
Net settlement on vesting of restricted share units (Note 18)	(7,842)			$ 4		(7,846)
Net settlement on vesting of performance units (Note 18) (in shares)				902,532
Net settlement on vesting of performance units (Note 18)	$ (25,827)			$ 9		(25,836)
Stock repurchased and retired (Note 19( (in shares)	(3,412,293)			(3,412,293)
Stock repurchased and retired (Note 19)	$ (137,044)			$ (34)		0		(137,010)
Expenses related to stock repurchase (Note 19)	(68)							(68)
Stock-based compensation expense (Note 18)	74,008					74,008
Comprehensive income (loss):
Net income (loss)	308,276							308,276
Other comprehensive income (loss)	(13,384)										(13,384)
Dividend	$ (74,212)							(74,212)
End balance, value (in shares) at Dec. 31, 2020	189,045,661			189,045,661
End balance, value at Dec. 31, 2020	$ 1,834,229			$ 1,885		1,636,026		741,658			(545,340)
Issuance of common shares on exercise of options (Note 18) (in shares)	1,145,125			1,145,125
Issuance of common shares on exercise of options (Note 18)	$ 23,168			$ 11		23,157
Issuance of common shares under the employee stock purchase plan (Note 18) (in shares)				285,657
Issuance of common shares under the employee stock purchase plan (Note 18)	11,883			$ 3		11,880
Net settlement on vesting of restricted share units (Note 18) (in shares)				335,036
Net settlement on vesting of restricted share units (Note 18)	(7,556)			$ 3		(7,559)
Net settlement on vesting of performance units (Note 18) (in shares)				1,102,440
Net settlement on vesting of performance units (Note 18)	$ (28,290)			$ 11		(28,301)
Stock repurchased and retired (Note 19( (in shares)	(6,577,562)			(6,577,562)
Stock repurchased and retired (Note 19)	$ (298,087)			$ (66)				(298,021)
Expenses related to stock repurchase (Note 19)	(132)							(132)
Stock-based compensation expense (Note 18)	81,968					81,968
Stockholders' Equity, Other	(6)					(6)
Comprehensive income (loss):
Net income (loss)	369,448							369,448
Other comprehensive income (loss)	(9,013)										(9,013)
Dividend	$ (80,479)							(80,479)
End balance, value (in shares) at Dec. 31, 2021	185,336,357			185,336,357
End balance, value at Dec. 31, 2021	$ 1,897,133			$ 1,847		$ 1,717,165		$ 732,474			$ (554,353)

Consolidated Statements of Equity (Parenthetical)	12 Months Ended
Consolidated Statements of Equity (Parenthetical)	Dec. 31, 2019 $ / shares
Statement of Stockholders' Equity [Abstract]
Dividends per common share (in usd per share)	$ 0.34
Accounting Standards Update [Extensible List]	ASC 326

- Definition

Indicates amendment to accounting standards.

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating activities
Net income	$ 369,448	$ 308,276	$ 304,881
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	109,124	116,499	96,101
Amortization of debt issuance costs (including loss on extinguishment of debt)	2,678	2,248	1,779
Amortization of acquired intangible assets	58,448	43,343	32,612
Write-down of intangible assets and property, plant and equipment	915	14,083	3,511
Reserve for doubtful receivables/allowance for credit losses	1,487	5,707	7,443
Unrealized loss (gain) on revaluation of foreign currency asset/liability	(8,304)	9,578	(5,171)
Stock-based compensation expense	81,968	74,008	83,885
Deferred tax benefit	(9,263)	(22,587)	(16,315)
Write-down of operating lease right-of-use assets and other assets	0	18,084	0
Gain on exchange of non-monetary asset	0	0	(31,380)
Others, net	623	(1,291)	(2,213)
Change in operating assets and liabilities:
(Increase) decrease in accounts receivable	(11,803)	42,505	(121,983)
(Increase) decrease in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets	83,432	(99,852)	(69,813)
Increase (decrease) in accounts payable	11,740	(12,480)	(21,375)
Increase (decrease) in accrued expenses, other current liabilities, operating lease liabilities and other liability	(2,057)	87,180	157,580
Increase (decrease) in income taxes payable	5,845	(993)	8,346
Net cash provided by operating activities	694,281	584,308	427,888
Investing activities
Purchase of property, plant and equipment	(53,341)	(70,170)	(74,927)
Payment for internally generated intangible assets (including intangibles under development)	(3,907)	(10,201)	(33,834)
Proceeds from sale of property, plant and equipment and intangibles assets	6,384	607	1,750
Proceeds from sale of equity affiliates	0	0	2,168
Payment for business acquisitions, net of cash acquired	(72,025)	(186,633)	(252,276)
Proceed from sale of investment	142	0	0
Net cash used for investing activities	(122,747)	(266,397)	(357,119)
Financing activities
Repayment of finance lease obligations	(13,926)	(10,567)	(7,380)
Payment of debt issuance costs	(3,029)	(620)	(2,317)
Proceeds from long-term debt	350,000	0	400,000
Repayment of long-term debt	(34,002)	(34,000)	(34,000)
Proceeds from short-term borrowings	0	610,000	400,000
Repayment of short-term borrowings	(250,000)	(430,000)	(625,000)
Proceeds from issuance of common shares under stock-based compensation plans	35,051	25,135	19,670
Payment for net settlement of stock-based awards	(35,717)	(34,083)	(3,850)
Payment of earn-out consideration	(2,556)	(6,552)	(12,790)
Dividend paid	(80,479)	(74,212)	(64,671)
Payment for stock repurchased and retired (including expenses related to stock repurchase)	(298,219)	(137,112)	(30,015)
Others	(6)	0	0
Net cash provided by/ (used for) financing activities	(332,883)	(92,011)	39,647
Effect of exchange rate changes	(19,633)	(12,556)	(11,716)
Net increase in cash and cash equivalents	238,651	225,900	110,416
Cash and cash equivalents at the beginning of the period	680,440	467,096	368,396
Cash and cash equivalents at the end of the period	899,458	680,440	467,096
Supplementary information
Cash paid during the period for interest (including interest rate swaps)	46,348	49,101	45,084
Cash paid during the period for income taxes, net of refunds	31,761	193,946	104,217
Property, plant and equipment acquired under finance lease obligations	286	29,526	5,008
Non-cash transaction: Gain on exchange of non-monetary asset	$ 0	$ 0	$ (31,380)

Organization	12 Months Ended
Organization	Dec. 31, 2021
Accounting Policies [Abstract]
Organization	OrganizationThe Company is a global professional services firm that drives digitally-led innovation and runs digitally-enabled intelligent operations for its clients, guided by its experience over time running thousands of processes for hundreds of Fortune Global 500 clients. The Company has over 109,600 employees serving clients in key industry verticals from more than 30 countries.

Summary of significant accounting policies

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

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.

(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 ongoing 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.

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.

2. Summary of significant accounting policies (Continued)

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 and 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	-	9 years
Marketing-related intangible assets	1	-	8 years
Technology-related intangible assets	2	-	10 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 consolidated balance sheet and are amortized on a straight-line basis when placed into service over the estimated useful lives of the software and technology.

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.

2. Summary of significant accounting policies (Continued)

The General Electric Company (“GE”) accounted for 16% and 8% of the Company’s receivables as of December 31, 2020 and 2021, respectively. GE accounted for 14%, 12% and 9% of the Company’s revenues in the years ended December 31, 2019, 2020 and 2021, 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.

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.

2. Summary of significant accounting policies (Continued)

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

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 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.

2. Summary of significant accounting policies (Continued)

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 28 for additional information.

(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 clients and travel and other billable costs related to the Company’s clients. 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 intangibles and ROU assets other than those included in cost of revenue.

2. Summary of significant accounting policies (Continued)

(j) Credit losses

An allowance for credit losses is recognized for all debt instruments other than those held at fair value through profit or loss. The Company pools its accounts receivable (other than deferred billings) 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 and 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 uncollectible 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.

(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.

(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.

2. Summary of significant accounting policies (Continued)

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 consolidated 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.

(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.

2. Summary of significant accounting policies (Continued)

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).

(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 carry forwards, 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.

2. Summary of significant accounting policies (Continued)

(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.

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.

(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) 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 probable 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.

2. Summary of significant accounting policies (Continued)

(w) 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.

(x) 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.

(y) 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.

(z) 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:

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 Company assessed the impact of these ASUs and concluded that they do not have a material impact on its consolidated results of operations, cash flows, financial position or disclosures.

2. Summary of significant accounting policies (Continued)

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 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 November 2021, the FASB issued ASU No. 2021-10, “Government Assistance.” This ASU improves financial reporting by requiring disclosures that increase the transparency of transactions with governments. The ASU is effective for the Company for annual periods, beginning December 15, 2021. Early adoption is permitted. The Company is in the process of assessing the impact of this ASU on its consolidated results of operations, cash flows, financial position and disclosures.

In October 2021, the FASB issued ASU No. 2021-08, “Business Combination.” This ASU requires acquiring entities to apply Topic 606 to recognize and measure contract assets and contract liabilities in a business combination and improve comparability for both the recognition and measurement of acquired revenue contracts at the date of and after a business combination and revenue contracts not acquired in a business combination. The ASU is effective for the Company for fiscal years, and interim periods within those fiscal years, beginning December 15, 2022. Early adoption is permitted. The Company is in the process of assessing the impact of this ASU on its consolidated results of operations, cash flows, financial position and disclosures.

Business acquisitions	12 Months Ended
Business acquisitions	Dec. 31, 2021
Business Combinations [Abstract]
Business acquisitions	Business acquisitions (a) Hoodoo Digital, LLC On December 31, 2021, the Company acquired 100% of the outstanding equity/limited liability company interests in Hoodoo Digital, LLC, a Utah limited liability company, for total purchase consideration of $66,592. This amount represents cash consideration of $64,310, net of cash acquired of $2,283. The total purchase consideration paid by the Company to the sellers on the closing date was $67,695, resulting in a recoverable of $1,102 as of December 31, 2021. 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 furthers the Company's strategy to fuse experience and process innovation to help clients drive end-to-end digital transformation. Hoodoo Digital’s expertise with Adobe Experience Manager and other Adobe applications expands the Company's existing capabilities to provide clients with an end-to-end solution that integrates digital content, e-commerce, data analytics, and marketing operations. 3. Business acquisitions (Continued) In connection with this acquisition, the Company recorded $16,200 in customer-related intangibles and $2,400 in marketing-related intangibles which have a weighted average amortization period of five years. Goodwill arising from the acquisition amounting to $44,216 has been allocated using a relative fair value allocation method to each of the Company’s reporting segments as follows: to the Banking, Capital Markets and Insurance ("BCMI") segment in the amount of $4,167, to the Consumer Goods, Retail, Life Sciences and Healthcare ("CGRLH") segment in the amount of $7,032 and to the High Tech, Manufacturing and Services ("HMS") segment in the amount of $33,017. Goodwill arising from this acquisition is deductible for income tax purposes. The goodwill represents primarily the acquired capabilities and other benefits expected to result from combining the acquired operations with the Company’s existing operations. Acquisition-related costs of $1,177 have been included in selling, general and administrative expenses as incurred. In connection with the acquisition, the Company also acquired certain assets with a value of $5,629 and assumed certain liabilities amounting to $1,852. 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 $278 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. No proforma revenue or earning information for 2021 and 2020 has been presented as the impact is not material. (b) 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 $148,797. This amount represents cash consideration of $137,166, net of cash acquired of $11,631. The total purchase consideration paid by the Company to the sellers on the closing date was $141,938. No portion of the purchase consideration is outstanding as of December 31, 2021. This acquisition increased the scale and depth of the Company’s data and analytics capabilities and enhanced 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 $87,874 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 $2,594, to the CGRLH segment in the amount of $22,548 and to the HMS segment in the amount of $62,732. The goodwill arising from this acquisition is not deductible for income tax purposes. The goodwill represents primarily the acquired capabilities 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 acquisition, the Company also acquired certain assets with a value of $32,879, assumed certain liabilities amounting to $17,232 and recognized a net deferred tax liability of $14,343. 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 $5,968 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. 3. Business acquisitions (Continued) (c) 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 on the closing date was $57,704, resulting in a recoverable of $253, which was received in the three months ended March 31, 2021. This acquisition supported the Company’s strategy to integrate experience and process innovation to help clients on their digital transformation journeys and expanded 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 expanded the Company’s capabilities into Magento Commerce, which powers Adobe Commerce Cloud, and Shopify Plus, a cloud-based e-commerce platform for high volume merchants. 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 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 acquisition, 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. (d) 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 closing date was $248,470, resulting in a payable of $22,199. $5,406 of the total purchase consideration remains payable as of December 31, 2021. This acquisition expanded 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 earn-out consideration with an estimated value of $21,500 over the rollover period of three years. The amount of deferred earn-out 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 as of November 12, 2019. See Note 6, “Fair value measurements,” for additional details. 3. Business acquisitions (Continued) 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 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 acquisition, 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 liability 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.

Cash and cash equivalents

12 Months Ended

Dec. 31, 2021

Cash and Cash Equivalents [Abstract]

Cash and cash equivalents


	As of December 31,
	2020		2021
Cash and other bank balances	$	680,440	$	899,458
Total	$	680,440	$	899,458

Accounts receivable, net of allowance for credit losses

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Accounts receivable, net of allowance for credit losses

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


	Year ended December 31,
	2019		2020		2021
Opening balance as of January 1	$	23,960	$	29,969	$	27,707
Transition period adjustment on accounts receivables (through retained earnings) pursuant to adoption of ASC 326	—		4,185		—
Adjusted balance as of January 1	23,960		34,154		27,707
Additions due to acquisitions	1,004		200		—
Additions charged/reversal released to cost and expense, net	7,443		3,307		910
Deductions/effect of exchange rate fluctuations	(2,438)		(9,954)		(4,288)
Closing balance	$	29,969	$	27,707	$	24,329

Accounts receivable were $908,727 and $912,071, and allowances for credit losses were $27,707 and $24,329, resulting in net accounts receivable balances of $881,020 and $887,742 as of December 31, 2020 and 2021, respectively.

Fair value measurements

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

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, 2020 and 2021:


	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


	As of December 31, 2021
	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)	$	34,070	$	—	$	34,070	$	—
Deferred compensation plan assets (a, e)	38,584		—		—		38,584
Total	$	72,654	$	—	$	34,070	$	38,584
Liabilities
Earn-out consideration (Note b, d)	$	5,406	$	—	$	—	$	5,406
Derivative instruments (Note b, c)	15,254		—		15,254		—
Deferred compensation plan liability (b, f)	38,007		—		—		38,007
Total	$	58,667	$	—	$	15,254	$	43,413

(a)Derivative assets are included in “prepaid expenses and other current assets” and “other assets;” deferred compensation plan assets are included in “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.

6. Fair value measurements (Continued)

(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.

(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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	22,184	$	8,272
Payments made on earn-out consideration (Note a)	(6,552)		(2,556)
Change in fair value of earn-out consideration (Note b)	(7,790)		(750)
Others (Note c)	430		440
Closing balance	$	8,272	$	5,406

(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 $0 and $440 for the year ended December 31, 2020 and 2021, 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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	11,208	$	26,832
Additions (net of redemption)	11,460		7,523
Change in fair value of deferred compensation plan assets (Note a)	4,164		4,229
Closing balance	$	26,832	$	38,584

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

6. Fair value measurements (Continued)

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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	10,943	$	26,390
Additions (net of redemption)	11,327		7,523
Change in fair value of deferred compensation plan liabilities (Note a)	4,120		4,094
Closing balance	$	26,390	$	38,007

(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, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative financial instruments

The Company is exposed to the risk of rate fluctuations on its 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, foreign currency denominated forecasted cash flows and interest rate risk. These derivative financial instruments are largely deliverable and non-deliverable forward foreign exchange contracts, treasury rate locks 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 during a period 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, 2020		As of December 31, 2021		As of December 31, 2020		As of December 31, 2021
Foreign exchange forward contracts denominated in:
United States Dollars (sell) Indian Rupees (buy)	$	1,150,000	$	1,348,600	$	15,207	$	26,247
United States Dollars (sell) Mexican Peso (buy)	17,500		23,750		716		140
United States Dollars (sell) Philippines Peso (buy)	67,200		75,600		1,332		(2,215)
Euro (sell) United States Dollars (buy)	96,651		120,994		(5,659)		2,634
Singapore Dollars (buy) United States Dollars (sell)	10,153		3,655		66		65
Euro (sell) Romanian Leu (buy)	29,489		47,506		(22)		(233)
Japanese Yen (sell) Chinese Renminbi (buy)	19,230		10,440		473		202
United States Dollars (sell) Chinese Renminbi (buy)	—		45,000		—		120
Pound Sterling (sell) United States Dollars (buy)	—		49,031		—		545
United States Dollars (sell) Hungarian Font (buy)	30,000		39,000		904		(2,174)
Hungarian Font (Sell) Euro (buy)	10,444		2,828		61		(17)
Australian Dollars (sell) Indian Rupees (buy)	140,525		97,053		(7,670)		1,234
Interest rate swaps (floating to fixed)	488,022		460,135		(18,680)		(7,732)
					$	(13,272)	$	18,816

7. Derivative financial instruments (Continued)

(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.

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, interest rate swaps and treasury rate locks 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 and treasury rate locks 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, 2020		As of December 31, 2021		As of December 31, 2020		As of December 31, 2021
Assets
Prepaid expenses and other current assets	$	16,188	$	16,064	$	5,357	$	3,130
Other assets	$	6,164	$	14,876	$	—	$	—
Liabilities
Accrued expenses and other current liabilities	$	16,387	$	11,408	$	3,785	$	1,090
Other liabilities	$	16,886	$	2,756	$	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.

The Company executed a treasury rate lock agreement for $350,000 in connection with future interest payments to be made on its senior notes issued by Genpact Luxembourg S.à r.l. (“Genpact Luxembourg”) and Genpact USA, Inc. (“Genpact USA”), both wholly-owned subsidiaries of the Company, in March 2021 (the “2021 Senior Notes”), and the treasury rate lock was designated as a cash flow hedge. The treasury rate lock agreement was terminated on March 23, 2021 and a deferred gain was recorded in accumulated other comprehensive income and is being amortized to interest expense over the life of the 2021 Senior Notes. The remaining gain to be amortized related to the treasury rate lock agreement as of December 31, 2021 was $692.

7. Derivative financial instruments (Continued)

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,
	2019						2020						2021
	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	$	(2,411)	$	(5,524)	$	(7,935)	$	(4,126)	$	(1,466)	$	(5,592)	$	(10,921)	$	1,861	$	(9,060)
Net gains (losses) reclassified into statement of income on completion of hedged transactions	19,401		(7,212)		12,189		(6,171)		605		(5,566)		7,628		(1,836)		5,792
Changes in fair value of effective portion of outstanding derivatives, net	17,686		(3,154)		14,532		(12,966)		3,932		(9,034)		36,017		(7,101)		28,916
Gain (loss) on cash flow hedging derivatives, net	(1,715)		4,058		2,343		(6,795)		3,327		(3,468)		28,389		(5,265)		23,124
Closing balance	$	(4,126)	$	(1,466)	$	(5,592)	$	(10,921)	$	1,861	$	(9,060)	$	17,468	$	(3,404)	$	14,064

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


Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)						Location of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)
	Year ended December 31,							Year ended December 31,
	2019		2020		2021			2019		2020		2021
Forward foreign exchange contracts	$	24,581	$	6,933	$	32,270	Revenue	$	6,782	$	4,432	$	1,354
Interest rate swaps	(6,895)		(19,899)		2,931		Cost of revenue	6,435		(4,553)		11,155
Treasury rate lock	—		—		816		Selling, general and administrative expenses	1,732		(1,266)		3,012
							Interest expense	4,452		(4,784)		(7,893)
	$	17,686	$	(12,966)	$	36,017		$	19,401	$	(6,171)	$	7,628

There were no gains (losses) recognized in the statement of income on the ineffective portion of derivatives and excluded from effectiveness testing for the years ended December 31, 2019, 2020 and 2021, respectively.

Non-designated Hedges


Derivatives not designated as hedging instruments	Location of Gain (Loss) recognized in Statement of Income on Derivatives	Amount of Gain (Loss) recognized in Statement of Income on Derivatives
		Year ended December 31,
		2019		2020		2021
Forward foreign exchange contracts (Note a)	Foreign exchange gains (losses), net	$	4,299	$	(8,055)	$	12,116
Forward foreign exchange contracts (Note b)	Foreign exchange gains (losses), net	—		3,963		—
		$	4,299	$	(4,092)	$	12,116

7. Derivative financial instruments (Continued)

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, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid expenses and other current assets

Prepaid expenses and other current assets consist of the following:


	As of December 31,
	2020		2021
Advance income and non-income taxes	$	73,008	$	28,075
Contract asset (Note 25)	9,035		8,506
Prepaid expenses	32,375		38,528
Derivative instruments	21,545		19,194
Employee advances	2,636		2,797
Deposits	8,774		5,839
Advances to suppliers	2,716		804
Others	37,319		30,698
Total	$	187,408	$	134,441

Property, plant and equipment, net

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net

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


	As of December 31,
	2020		2021
Land	$	5,792	$	7,292
Buildings	41,622		41,282
Furniture and fixtures	52,610		52,901
Computer equipment and servers	270,376		309,551
Plant, machinery and equipment	109,722		108,527
Computer software	141,417		138,343
Leasehold improvements	126,761		114,747
Vehicles	152		162
Capital work in progress	44,011		45,647
Property, plant and equipment, gross	$	792,463	$	818,452
Less: Accumulated depreciation, amortization and impairment	(561,341)		(603,363)
Property, plant and equipment, net	$	231,122	$	215,089

Depreciation expense on property, plant and equipment for the years ended December 31, 2019, 2020 and 2021 was $53,332, $67,662 and $62,159, respectively. Computer software amortization for the years ended December 31, 2019, 2020 and 2021 was $14,167, $9,421 and 5,842, 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 $(267), $213 and $(430) for the years ended December 31, 2019, 2020 and 2021, respectively.

The Company recorded a write-down to computer software during the years ended December 31, 2020 and 2021 as described in Note 10.

Goodwill and intangible assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and intangible assets

The following table presents the changes in goodwill for the years ended December 31, 2020 and 2021:


	As of December 31,
	2020		2021
Opening balance	$	1,574,466	$	1,695,688
Goodwill relating to acquisitions consummated during the period	123,595		44,216
Impact of measurement period adjustments	(5,653)		1,205
Effect of exchange rate fluctuations	3,280		(10,082)
Closing balance	$	1,695,688	$	1,731,027

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

10. Goodwill and intangible assets (Continued)

The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2021:


	BCMI		CGRLH		HMS		Total
Opening balance	$	420,172	$	607,574	$	667,942	$	1,695,688
Goodwill relating to acquisitions consummated during the period	4,167		7,032		33,017		44,216
Impact of measurement period adjustments	35		309		861		1,205
Effect of exchange rate fluctuations	(3,117)		(3,795)		(3,170)		(10,082)
Closing balance	$	421,257	$	611,120	$	698,650	$	1,731,027

During the years ended December 31, 2020 and 2021, in accordance with ASC 350, Intangibles-Goodwill and Other, 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, 2020 and 2021, 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 total amount of the Company’s goodwill deductible for tax purposes was $296,046 and $326,795 as of December 31, 2020 and 2021, respectively.

The Company’s intangible assets are as follows:


	As of December 31, 2020						As of December 31, 2021
	Gross carrying amount		Accumulated amortization & Impairment		Net		Gross carrying amount		Accumulated amortization & Impairment		Net
Customer-related intangible assets	$	478,189	$	359,652	$	118,537	$	489,974	$	394,688	$	95,286
Marketing-related intangible assets	96,561		61,154		35,407		98,870		76,663		22,207
Technology-related intangible assets	152,293		90,866		61,427		171,772		119,630		52,142
Intangible assets under development	23,864		2,503		21,361		—		—		—
Total	$	750,907	$	514,175	$	236,732	$	760,616	$	590,981	$	169,635

Amortization expenses for intangible assets acquired as 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, 2019, 2020 and 2021 were $32,612, $43,343 and $58,448, 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, 2019, 2020 and 2021 were $18,957, $27,290 and $24,987, 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 $(76), $74 and $(157) for the years ended December 31, 2019, 2020 and 2021, respectively.

During the years ended December 31, 2019, 2020 and 2021, 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 $3,511, $14,083 and $915 for the years ended December 31, 2019, 2020 and 2021, respectively. These write-downs have been recorded in “other operating (income) expense, net” in the consolidated statements of income.

10. Goodwill and intangible assets (Continued)

The summary below represents the impairment charges recorded for various categories of assets during the years ended December 31, 2019, 2020 and 2021:


	Year ended December 31,
	2019		2020		2021
Technology related intangibles	$	3,511	$	5,179	$	205
Customer related intangibles	—		938		—
Total Intangibles	$	3,511	$	6,117	$	205
Property, plant and equipment	$	—	$	7,966	$	710
Total Property, plant and equipment	$	—	$	7,966	$	710
Grand Total	$	3,511	$	14,083	$	915

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


For the year ending December 31:
2022	$	63,620
2023	48,718
2024	32,938
2025	19,527
2026 and beyond	4,832
Total	$	169,635

Other Assets

12 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Assets

Other assets consist of the following:


	As of December 31,
	2020		2021
Contract asset (Note 25)	$	6,770	$	5,235
Advance income and non-income taxes	155,035		124,219
Deposits	32,058		28,463
Derivative instruments	6,164		14,876
Prepaid expenses	5,176		5,979
Deferred billings, net*	25,357		44,360
Right of use (ROU) assets finance lease	50,083		34,284
Others	43,175		64,742
Total	$	323,818	$	322,158

*Deferred billings were $28,491 and $48,071 and allowances for credit losses on deferred billings were $3,134 and $3,711, resulting in net deferred billings balances of $25,357 and $44,360 as of December 31, 2020 and 2021, respectively.

Total credit losses on deferred billings of $3,134 as of December 31, 2020 includes $734 as a transition date adjustment through retained earnings pursuant to the adoption of ASC 326 and $2,400 as a charge for the year ended December 31, 2020. During the year ended December 31, 2021, the Company recorded an additional charge of $577 to cost and expense on account of credit losses on deferred billings.

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

The Company has leased buildings, vehicles, furniture and fixtures, leased lines, computer equipment and servers 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, 2020 and 2021 are summarized below:


	Year ended December 31, 2019		Year ended December 31, 2020		Year ended December 31, 2021
Finance lease cost:
Amortization of ROU assets (Note a)	9,302		12,483		15,549
Interest on lease liabilities (Note b)	2,997		2,454		2,538
Operating lease cost (Note c)	74,436		88,596		81,637
Short-term lease cost (Note c)	438		1,643		1,057
Variable lease cost (Note c)	4,052		5,347		5,307
Total lease cost	$	91,225	$	110,523	$	106,088

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 $50,083 and $34,284 as of December 31, 2020 and December 31, 2021, 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), $161 and $(333) for the years ended December 31, 2019, 2020 and 2021, respectively.

Other information


	Year ended December 31, 2019		Year ended December 31, 2020		Year ended December 31, 2021
Weighted-average remaining lease term—finance leases	3.9 years		3.1 years		2.34 years
Weighted-average remaining lease term—operating leases	6.77 years		6.42 years		5.76 years
Weighted-average discount rate—finance leases	9.20	%	6.61	%	5.70	%
Weighted-average discount rate—operating leases	6.87	%	7.28	%	6.98	%


	Year ended December 31, 2019		Year ended December 31, 2020		Year ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	2,859	$	2,898	$	2,592
Operating cash flows from operating leases	$	72,645	$	92,010	$	80,159
Financing cash flows from finance leases	$	7,380	$	10,567	$	13,926

12. Leases (Continued)

The following table reconciles the undiscounted cash flows for the Company’s operating and finance leases as of December 31, 2021 to the operating and finance lease liabilities recorded on the Company’s consolidated balance sheet:


Period range	Finance lease		Operating lease
2022	$	20,008	$	80,226
2023	10,178		73,374
2024	5,105		62,132
2025	2,062		64,383
2026	34		37,131
Thereafter	—		66,004
Total lease payments	$	37,387	$	383,250
Less: Imputed interest	2,541		73,952
Total lease liabilities	$	34,846	$	309,298

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

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 a virtual operating environment. There were no corresponding impairment charges during the years ended December 31, 2019 and 2021. Of the total impairment charge recorded in the year ended December 31, 2020, $8,482 pertains to restructuring charges. See Note 28 for additional details.

Accrued expenses and other current liabilities

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accrued expenses and other current liabilities

Accrued expenses and other current liabilities consist of the following:


	As of December 31,
	2020		2021
Accrued expenses	$	150,390	$	162,054
Accrued employee cost	286,399		307,777
Earn-out consideration	2,651		2,501
Statutory liabilities	104,768		67,948
Retirement benefits	1,967		1,746
Compensated absences	28,635		26,596
Derivative instruments	20,172		12,498
Contract liabilities (Note 25)	154,717		160,602
Finance lease liability	18,066		18,549
Others	39,004		31,169
Total	$	806,769	$	791,440

Long-term debt

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Long-term debt

Borrowings under the Company's credit facility, which was amended in August 2018, 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 or a base rate plus an applicable margin equal to 0.375% per annum, 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 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. These covenants require the Company to maintain 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, 2021, the Company was in compliance with the terms of the 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 that are contained in the amended credit agreement.

As of December 31, 2020 and 2021, the amount outstanding under the term loan, net of debt amortization expense of $1,150 and $687, respectively, was $593,850 and $560,313, respectively.

As of December 31, 2020 and 2021, 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, 2021 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.

The maturity profile of the term loan outstanding as of December 31, 2021, net of debt amortization expense, is as follows:


Year ended	Amount
2022	33,564
2023	526,749
Total	$	560,313

14. Long-term debt (Continued)

Genpact Luxembourg S.à r.l., 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”). The 2017 Senior Notes and 2019 Senior Notes are fully guaranteed by the Company. The total debt issuance costs 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 respective notes as an

additional interest expense.

As of December 31, 2020 and 2021, the amount outstanding under the 2017 Senior Notes, net of debt amortization expense of $658 and $131, respectively, was $349,342 and $349,869, respectively, which is payable on April 1, 2022. As of December 31, 2020 and 2021, the amount outstanding under the 2019 Senior Notes, net of debt amortization expense of $2,284 and $1,702, respectively, was $397,716 and $398,298, respectively, which is payable on December 1, 2024.

In March 2021, Genpact Luxembourg S.à r.l. and Genpact USA, Inc., both wholly-owned subsidiaries of the Company, co-issued $350,000 aggregate principal amount of 1.750% senior notes (the “2021 Senior Notes,” and together with the 2017 Senior Notes and the 2019 Senior Notes, the “Senior Notes”). The 2021 Senior Notes are fully guaranteed by the Company. The total debt issuance cost of $3,032 incurred in connection with the 2021 Senior Notes is being amortized over the life of the 2021 Senior Notes as additional interest expense. As of December 31, 2021, the amount outstanding under the 2021 Senior Notes, net of debt amortization expense of $2,571, was $347,429, which is payable on April 10, 2026.

The Company pays interest on (i) the 2017 Senior Notes semi-annually in arrears on April 1 and October 1 of each year, (ii) the 2019 Senior Notes semi-annually in arrears on June 1 and December 1 of each year, and (iii) the 2021 Senior Notes semi-annually in arrears on April 10 and October 10 of each year, ending on the maturity dates of April 1, 2022, December 1, 2024 and April 10, 2026, 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, in the case of the 2019 Senior Notes, November 1, 2024, and in the case of the 2021 Senior Notes, March 10, 2026, 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 substantially as an entirety. During the year ended December 31, 2021, the Company and its applicable subsidiaries were in compliance with the covenants. Upon certain change of control transactions, the applicable issuer or issuers will be required to make an offer to repurchase the Senior Notes at a price equal to 101% of the aggregate principal amount of the Senior Notes, plus accrued and unpaid interest. The interest rate payable on the Senior Notes is subject to adjustment if the credit rating of the Senior Notes is downgraded, up to a maximum increase of 2.0%.

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


	As of December 31,
	2020		2021
Credit facility, net of debt amortization expenses	$	593,850	$	560,313
3.70% 2017 Senior Notes, net of debt amortization expenses	349,342		349,869
3.375% 2019 Senior Notes, net of debt amortization expenses	397,716		398,298
1.750% 2021 Senior Notes, net of debt amortization expenses	$	—	$	347,429
Total	$	1,340,908	$	1,655,909
Current portion	33,537		383,433
Non-current portion	1,307,371		1,272,476
Total	$	1,340,908	$	1,655,909

Short-term borrowings	12 Months Ended
Short-term borrowings	Dec. 31, 2021
Debt Disclosure [Abstract]
Short-term borrowings	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, 2020 and 2021, the limits available were $14,311 and $24,727, respectively, of which $7,809 and $5,848, respectively, 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, 2020 and 2021. The unutilized amount on the revolving facilities bore a commitment fee of 0.20% as of December 31, 2020 and 2021. As of December 31, 2020 and 2021, a total of $252,347 and $2,017, respectively, was utilized, of which $250,000 and $0, respectively, constituted funded drawdown and $2,347 and $2,017, 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, 2021, the Company was in compliance with the financial covenants of the credit agreement.

Other liabilities

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Other liabilities

Other liabilitiesOther liabilities consist of the following:


	As of December 31,
	2020		2021
Accrued employee cost	19,797		15,790
Earn-out consideration	5,621		2,905
Retirement benefits	11,947		11,993
Compensated absences	47,656		52,023
Derivative instruments	20,809		2,756
Contract liabilities (Note 25)	68,760		80,222
Finance lease liability	30,958		16,297
Others	32,850		63,224
Total	$	238,398	$	245,210

Employee benefit plans

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

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, 2019, 2020 and 2021, 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.

17. Employee benefit plans (Continued)

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. The plan contributions are further invested into insurer managed funds.

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.

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, 2020 and 2021.


	As of December 31,
	2020		2021
Change in benefit obligation
Projected benefit obligation at the beginning of the year	$	80,561	$	97,660
Service cost	11,897		14,546
Actuarial loss (Gain)	6,843		(10,436)
Interest cost	5,297		5,497
Liabilities assumed on acquisition/ transfer of employees	180		—
Benefits paid	(6,388)		(9,162)
Settlements	—		(4,328)
Curtailments	—		(181)
Effect of exchange rate changes	(730)		(1,814)
Projected benefit obligation at the end of the year	$	97,660	$	91,782
Change in fair value of plan assets
Fair value of plan assets at the beginning of the year	$	70,900	$	93,809
Employer contributions	24,523		12,907
Actual gain on plan assets	5,370		4,831
Benefits paid	(6,287)		(9,162)
Settlements	—		(3,495)
Effect of exchange rate changes	(697)		(1,915)
Fair value of plan assets at the end of the year	$	93,809	$	96,975
Funded status, end of year	$	(3,851)	$	5,193
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)	$	10,063	$	18,932
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)	(1,967)		(1,746)
Non-current liabilities (recorded under other liabilities- retirement benefits)	(11,947)		(11,993)
Funded status, end of year	$	(3,851)	$	5,193

The change in defined benefit obligation for the years ended December 31, 2020 and 2021 is largely due to changes in actuarial assumptions pertaining to discount rates.

17. Employee benefit plans (Continued)

Amounts included in accumulated other comprehensive income (loss) as of December 31, 2019, 2020 and 2021 were as follows:


	As of December 31,
	2019		2020		2021
Net actuarial loss	$	(21,490)	$	(24,669)	$	(13,399)
Net prior service credit / (cost)	(717)		(477)		(300)
Deferred tax benefits	6,171		7,065		3,206
Other comprehensive income (loss), net	$	(16,036)	$	(18,081)	$	(10,493)

Changes in other comprehensive income (loss) during the year ended December 31, 2020 and 2021 were as follows:


	As of December 31,
	2020		2021
Net Actuarial (Loss) Gain	$	(5,891)	$	9,019
Amortization of net actuarial loss	2,242		1,379
Deferred tax (expense) benefits	894		(3,859)
Net prior service credit / (cost)	219		170
Curtailment	—		181
Settlements	—		519
Effect of exchange rate changes	491		179
Other comprehensive income (loss), net	$	(2,045)	$	7,588

Funded status for defined benefit plans

The accumulated benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2020 and 2021 was as follows:


	As of December 31,
	2020		2021
Accumulated benefit obligation	$	15,441	$	12,496
Fair value of plan assets at the end of the year	$	5,446	$	3,161

The projected benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2020 and 2021 was as follows:


	As of December 31,
	2020		2021
Projected benefit obligation	$	23,090	$	18,806
Fair value of plan assets at the end of the year	$	9,176	$	5,067

The amount of net projected benefit obligation and plan assets for all underfunded (including unfunded) defined benefit obligation plans was $13,914 and $13,739 as of December 31, 2020 and 2021, respectively, and was classified as liabilities in the consolidated balance sheets.

17. Employee benefit plans (Continued)

Net defined benefit plan costs for the years ended December 31, 2019, 2020 and 2021 include the following components:


	Year ended December 31,
	2019		2020		2021
Service costs	$	8,915	$	11,897	$	14,546
Interest costs	4,667		5,297		5,497
Amortization of actuarial loss	1,384		2,461		1,549
Expected return on plan assets	(2,605)		(4,589)		(6,239)
One-time cost	202		—		—
Settlements	—		—		519
Net defined benefit plan costs	$	12,563	$	15,066	$	15,872

Expected Contributions

The Company estimates that it will pay approximately $9,733 in fiscal 2022 related to contributions to defined benefit plans.

The weighted average assumptions used to determine the benefit obligations of the Indian Gratuity Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020				2021
Discount rate	4.45	%	-	5.90%	5.25	%	-	6.45%
Rate of increase in compensation per annum	5.20	%	-	9.00%	4.60	%	-	8.00%

The weighted average assumptions used to determine the Indian Gratuity Plan costs for the years ended December 31, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019			2020			2021
Discount rate	8.30 %	-	8.40 %	6.80 %	-	7.35 %	4.45%	-	5.90%
Rate of increase in compensation per annum	5.20 %	-	11.00 %	5.20 %	-	11.50 %	5.20%	-	9.00%
Expected long term rate of return on plan assets per annum	7.50%			7.50%			7.00%	-	7.50%

The weighted average assumptions used to determine the benefit obligations of the Mexican Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020		2021
Discount rate	7.20	%	8.20	%
Rate of increase in compensation per annum	5.50	%	5.50	%

The weighted average assumptions used to determine the costs of the Mexican Plan for the years ended December 31, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019		2020		2021
Discount rate	9.40	%	7.60	%	7.20	%
Rate of increase in compensation per annum	5.50	%	5.50	%	5.50	%

17. Employee benefit plans (Continued)

The weighted average assumptions used to determine the benefit obligations of the Philippines Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020		2021
Discount rate	5.26	%	7.67%
Rate of increase in compensation per annum	5.00	%	3.00%	-	6.00%

The weighted average assumptions used to determine the costs of the Philippines Plan for the years ended December 31, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019		2020		2021
Discount rate	7.53	%	5.22	%	5.26	%
Rate of increase in compensation per annum	6.00	%	6.00	%	5.00	%
Expected long-term rate of return on plan assets per annum	1.00	%	2.40	%	2.00	%

The weighted average assumptions used to determine the benefit obligation of the Japan Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020			2021
Discount rate	0.17%	—	0.41%	0.14%	—	0.81%
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, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019			2020			2021
Discount rate	0.076 %	-	0.269 %	0.094%	-	0.271%	0.17	%	-	0.41%
Rate of increase in compensation per annum	0.00 %			0.00 %			0.00%
Expected long term rate of return on plan assets per annum	0.00 %	-	1.77 %	0.00%	-	1.77%	1.77	%	-	3.12%

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.

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.

17. Employee benefit plans (Continued)

The fair values of the Company’s plan assets as of December 31, 2020 and 2021 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
Cash	21,707		21,707		—		—
Fixed income securities (Note a)	63,444		—		63,444		—
Other securities (Note b)	8,658		—		8,658		—
Total	$	93,809	$	21,707	$	72,102	$	—


	As of December 31, 2021
	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
Cash	14,059		14,059		—		—
Fixed income securities (Note a)	80,612		—		80,612		—
Other securities (Note b)	2,304		—		2,304		—
Total	$	96,975	$	14,059	$	82,916	$	—

(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.

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


Year ending December 31,
2022	$	12,938
2023	13,353
2024	14,310
2025	15,182
2026	16,250
2027 - 2031	83,964
	$	155,997

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, 2021.

17. Employee benefit plans (Continued)

Defined contribution plans

During the years ended December 31, 2019, 2020 and 2021, the Company contributed the following amounts to defined contribution plans in various jurisdictions:


	Year ended December 31,
	2019		2020		2021
India	$	29,729	$	30,396	$	37,508
U.S.	19,401		19,491		21,496
U.K.	19,260		18,643		19,874
China	18,816		16,436		24,988
Other regions	8,538		11,481		15,516
Total	$	95,744	$	96,447	$	119,382

Deferred compensation plan

On July 1, 2018, Genpact LLC, a wholly-owned subsidiary of the Company, adopted an executive deferred compensation plan (the “Plan”). The Plan provides a select group of U.S.-based members of Company management with the opportunity to defer from 1% to 80% of their base salary and from 1% to 100% of their qualifying bonus compensation (or such other minimums or maximums as determined by the Plan administrator from time to time) pursuant to the terms of the Plan. Participant deferrals are 100% vested at all times. The Plan also allows for discretionary supplemental employer contributions by the Company, in its sole discretion, which will be subject to a two-year vesting schedule (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 liability for the deferred compensation plan was $26,390 and $38,007 as of December 31, 2020 and December 31, 2021, 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 $26,832 and $38,584 as of December 31, 2020 and December 31, 2021, 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, 2020 and 2021, the change in the fair value of Plan assets was $1,296, $4,164 and $4,229, respectively, which is included in “other income (expense), net,” in the consolidated statements of income. During the years ended December 31, 2019, 2020 and 2021, the change in the fair value of deferred compensation liabilities was $1,062, $4,120 and $4,094, respectively, which is included in “selling, general and administrative expenses.”

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
-Section 55
-Paragraph 17
-URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 715
-SubTopic 20
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-Paragraph 2
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Stock-based compensation

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

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 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, 2019, 2020 and 2021, were $82,802, $72,709 and $80,548, 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 costs, including options, RSUs and PUs, including excess tax benefits, during the years ended December 31, 2019, 2020 and 2021 were $18,921, $21,832 and $21,857, 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 three to five years unless otherwise specified in the applicable award agreement. The Company recognizes such compensation cost over the vesting period of the option.

The 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 2019, 2020 and 2021:


	2019			2020	2021
Dividend yield	0.82%	—	1.08%	0.89%	0.84%	—	1.08%
Expected life (in months)	84			84	84
Risk-free rate of interest for expected life	1.56%	—	2.63%	1.50%	1.12%	—	1.37%
Volatility	21.00%	—	21.38%	20.96%	26.05%	—	26.18%

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 $0.0975 and $0.1075 per share in each quarter of fiscal 2020 and 2021, 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.

18. Stock-based compensation (Continued)

A summary of stock option activity during the years ended December 31, 2019, 2020 and 2021 is set out below:


	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


	Year Ended December 31, 2021
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value
Outstanding as of January 1, 2021	7,347,241		$	26.41	5.7	—
Granted	1,831,180		43.98		—	—
Forfeited	(25,000)		31.50		—	—
Expired	—		—		—	—
Exercised	(1,145,125)		20.23		—	30,463
Outstanding as of December 31, 2021	8,008,296		$	31.30	6.1	$	174,428
Vested as of December 31, 2021 and expected to vest thereafter (Note a)	7,422,919		$	30.51	6.1	$	167,551
Vested and exercisable as of December 31, 2021	3,117,333		$	24.17	3.4	$	90,117
Weighted average grant-date fair value of options granted during the period	$	11.35

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

18. Stock-based compensation (Continued)

Cash received by the Company upon the exercise of stock options during the years ended December 31, 2019, 2020 and 2021 amounted to $10,690, $14,062 and $23,168, respectively. Tax benefits from the exercise of stock options during the years ended December 31, 2019, 2020 and 2021 were $2,966, $7,381 and $6,927 (including excess tax benefits of $2,743, $7,310 and $4,191), respectively.

As of December 31, 2021, the total remaining unrecognized stock-based compensation cost for options expected to vest amounted to $24,199 which will be recognized over the weighted average remaining requisite vesting period of 3.2 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.

A summary of RSU activity during the years ended December 31, 2019, 2020 and 2021 is set out below:


	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 b)	(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 c)	(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

18. Stock-based compensation (Continued)


	Year ended December 31, 2021
	Number of Restricted Share Units	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2021	860,308	$	36.44
Granted	466,702	44.00
Vested (Note d)	(501,273)	34.41
Forfeited	(66,230)	38.02
Outstanding as of December 31, 2021	759,507	$	42.29
Expected to vest (Note a)	654,594

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

(b)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 that vested in the year ended December 31, 2019 were issued during the period ended December 31, 2021.

(c)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 2022 after withholding shares to the extent of minimum statutory withholding taxes.

(d)461,640 RSUs that vested during the period were net settled upon vesting by issuing 300,944 shares (net of minimum statutory tax withholding). 39,633 RSUs vested in the year ended December 31, 2021, shares in respect of which will be issued in 2022 after withholding shares to the extent of minimum statutory withholding taxes.

As of December 31, 2021, the total remaining unrecognized stock-based compensation cost related to RSUs amounted to $18,045, which will be recognized over the weighted average remaining requisite vesting period of 2.3 years.

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.

18. Stock-based compensation (Continued)

A summary of PU activity during the years ended December 31, 2019, 2020 and 2021 is set out below:


	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 b)	(3,276)	27.47		(3,276)
Forfeited	(248,031)	29.04		(278,755)
Adjustment upon final determination of level of performance goal achievement (Note c)	1,018,260	34.72
Adjustment upon final determination of level of performance goal achievement (Note d)				(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 e)	(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 f)	(399,987)	42.60
Adjustment upon final determination of level of performance goal achievement (Note g)				(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


	Year ended December 31, 2021
	Number of Performance Units	Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2021	4,876,196	$	34.56	4,876,196
Granted	1,340,877	44.06		2,681,754
Vested (Note h)	(1,784,140)	30.66		(1,784,140)
Forfeited	(258,258)	39.97		(320,098)
Adjustment upon final determination of level of performance goal achievement (Note i)	408,480	43.99
Adjustment upon final determination of level of performance goal achievement (Note j)				(870,557)
Outstanding as of December 31, 2021	4,583,155	$	39.40	4,583,155
Expected to vest (Note a)	4,263,803

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

18. Stock-based compensation (Continued)

(b)PUs that vested in 2019 were net settled upon vesting by issuing 2,151 shares (net of minimum statutory tax withholding).

(c)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.

(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 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.

(e)Vested PUs in the year 2020 were net settled upon vesting by issuing 902,532 shares (net of minimum statutory tax withholding).

(f)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.

(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 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.

(h)1,784,140 PSUs that vested during the year 2021 were net settled upon vesting by issuing 1,102,440 shares (net of minimum statutory tax withholding).

(i)Represents a 31.20% increase in the number of target shares expected to vest as a result of achievement of higher-than-target performance for PUs granted in 2021, partially offset by an adjustment made in March 2021 to the number of shares subject to the PUs granted in 2020 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 2021 based on the level of achievement of the performance goals. Also includes an adjustment made in March 2021 to the number of shares subject to the PUs granted in 2020 upon certification of the level of achievement of the performance targets underlying such awards.

As of December 31, 2021, the total remaining unrecognized stock-based compensation cost related to PUs amounted to $58,752, which will be recognized over the weighed average remaining requisite vesting period of 1.8 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, 2019, 2020 and 2021, 264,440, 315,245 and 285,657 common shares, respectively, were issued under the ESPP.

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

18. Stock-based compensation (Continued)

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, 2019, 2020 and 2021 was $1,083, $1,299 and $1,420, respectively, and has been allocated to cost of revenue and selling, general, and administrative expenses.

Capital stock	12 Months Ended
Capital stock	Dec. 31, 2021
Equity [Abstract]
Capital stock	Capital stock The Company’s authorized capital stock as of December 31, 2020 and 2021 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 189,045,661 and 185,336,357 common shares, and no preferred shares, issued and outstanding as of December 31, 2020 and 2021, 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. 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 $1,750,000 under the Company’s existing share repurchase program. 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, 2019, 2020 and 2021, the Company repurchased 766,154, 3,412,293 and 6,577,562 of its common shares, respectively, on the open market at a weighted average price of $39.16, $40.16 and $45.32 per share, respectively, for an aggregate cash amount of $30,000, $137,044 and $298,087, respectively. 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, 2019, December 31, 2020 and December 31, 2021, $15, $68 and $132, respectively, was deducted from retained earnings in direct costs related to share repurchases. $338,911 remained available for share repurchases under our existing share repurchase program as of December 31, 2021. 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 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. On February 9, 2021, the Company announced that its Board of Directors had approved a 10% increase in its quarterly cash dividend to $0.1075 per share, up from $0.0975 per share in 2020, representing an annual dividend of $0.43 per common share, up from $0.39 per share in 2020, payable to holders of the Company’s common shares. On March 19, 2021, June 23, 2021, September 24, 2021 and December 22, 2021, the Company paid a dividend of $0.1075 per share, amounting to $20,115, $20,133, $20,213 and $20,018 in the aggregate, to shareholders of record as of March 10, 2021, June 11, 2021, September 10, 2021 and December 10, 2021, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 14
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (g)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (h)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 14
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496171-112644

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 18
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496189-112644

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 16
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496180-112644

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (i)
-URI http://asc.fasb.org/extlink&oid=123467817&loc=SL123496158-112644

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Earnings per share

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

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 Company common shares outstanding. The calculation of basic earnings per common share is determined by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the respective periods. 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 the 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 1,809,069, 1,182,572 and 1,663,219 for the years ended December 31, 2019, 2020 and 2021, respectively.


	Year ended December 31,
	2019		2020		2021
Net income	$	304,881	$	308,276	$	369,448
Weighted average number of common shares used in computing basic earnings per common share	190,074,475		190,396,780		187,802,219
Dilutive effect of stock-based awards	5,086,380		5,384,191		5,159,622
Weighted average number of common shares used in computing dilutive earnings per common share	195,160,855		195,780,971		192,961,841
Earnings per common share
Basic	$	1.60	$	1.62	$	1.97
Diluted	$	1.56	$	1.57	$	1.91

Other operating (income) expense, net

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Other operating (income) expense, net


	Year ended December 31,
	2019		2020		2021
Write-down of intangible assets and property, plant and equipment*	$	3,511	$	14,083	$	915
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)	—		(7,790)		(750)
Other operating (income) expense#	(34,545)		(5,046)		(1,368)
Other operating (income) expense, net	$	(31,034)	$	19,331	$	(1,203)

* Refer to Notes 10 and 28 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, 2019 and 2021. Refer to Notes 12 and 28 for additional details.

#Includes a 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. No corresponding charges were recorded in the years ended December 31, 2020 and 2021.

Interest income (expense), net

12 Months Ended

Dec. 31, 2021

Banking and Thrift, Interest [Abstract]

Interest income (expense), net

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


	Year ended December 31,
	2019		2020		2021
Interest income	$	7,321	$	7,284	$	6,878
Interest expense	(50,779)		(56,244)		(58,312)
Interest income (expense), net	$	(43,458)	$	(48,960)	$	(51,434)

Income taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income taxes

Income tax expense (benefit) for the years ended December 31, 2019, 2020 and 2021 is allocated as follows:


	Year ended December 31,
	2019		2020		2021
Income from continuing operations	$	94,536	$	92,201	$	113,681
Other comprehensive income:
Unrealized gains (losses) on cash flow hedges	(4,058)		(3,327)		5,265
Retirement benefits	(2,720)		(894)		3,859
Retained earnings:
Deferred tax benefit recognized on adoption of ASU 2016-13	—		(935)		—

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


	Year ended December 31,
	2019		2020		2021
Domestic (U.S.)	$	27,783	$	122,497	$	126,107
Foreign (other than U.S.)	371,634		277,980		357,022
Income before income tax expense	$	399,417	$	400,477	$	483,129

23. Income taxes (Continued)

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


	Year ended December 31,
	2019		2020		2021
Current tax expense:
Domestic (U.S. federal)	$	2,854	$	23,668	$	34,538
Domestic (U.S. state)	3,908		10,765		5,605
Foreign (other than U.S.)	104,089		80,355		82,801
	$	110,851	$	114,788	$	122,944
Deferred tax expense (benefit):
Domestic (U.S. federal)	$	2,669	$	(7,329)	$	(6,039)
Domestic (U.S. state)	(1,679)		(3,770)		232
Foreign (other than U.S.)	(17,305)		(11,488)		(3,456)
	$	(16,315)	$	(22,587)	$	(9,263)
Total income tax expense (benefit)	$	94,536	$	92,201	$	113,681

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,
	2019			2020			2021
Income before income tax expense	$	399,417		$	400,477		$	483,129
Statutory tax rates	21		%	21		%	21		%
Computed expected income tax expense	83,878			84,100			101,457
Increase (decrease) in income taxes resulting from:
Foreign tax rate differential	31,121			15,456			10,747
Tax benefit from tax holiday	(21,393)			(16,063)			(3,159)
True-up of prior years tax liability	(3,568)			(3,420)			7,590
Interest income on income tax refund	—			—			(7,780)
Non-deductible expenses	2,152			372			1,755
Effect of change in tax rates	6,497			453			1,740
Change in valuation allowance	10,515			142,733			6,244
Unrecognized tax benefits	5,502			3,228			(327)
Employment related tax incentive	(5,239)			—			(3,930)
Internal restructuring	—			(129,688)			—
State income taxes	2,229			6,995			5,837
Excess tax benefit on share-based compensation	(2,743)			(7,310)			(7,773)
Others*	(14,415)			(4,655)			1,280
Reported income tax expense (benefit)	$	94,536		$	92,201		$	113,681

*Following the transfer/closure of certain affiliated entities, deferred tax liabilities recorded against the outside basis difference were reversed amounting to $3,782 during the year ended December 31, 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, respectively. 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 ("SEZ") 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.

During the year ended December 31, 2019, the Indian taxing authorities introduced a new tax regime under which a company can elect to pay taxes at a lower tax rate by foregoing certain deductions and exemptions, including SEZ exemptions. The Company has elected to forego applicable Indian tax holidays in order to benefit from the reduced tax rate under the new tax regime after March 31, 2021.

The effect of the Indian tax holiday on both basic and diluted earnings per share was $0.11, $0.08 and $0.02, respectively, for the years ended December 31, 2019, 2020 and 2021.

The components of the Company’s deferred tax balances as of December 31, 2020 and 2021 are as follows:


	As of December 31,
	2020		2021
Deferred tax assets
Net operating loss carry forwards	$	37,278	$	37,593
Accrued expenses and other liabilities	70,634		70,802
Allowance for credit losses	9,930		9,000
Property, plant & equipment, net	3,387		4,079
Lease liabilities	59,823		50,091
Share-based compensation	35,424		31,147
Intangible assets, net	165,347		168,737
Retirement benefits	14,761		9,721
Contract liabilities	6,080		8,012
Tax credit carry forwards	8,692		15,724
Others	14,619		10,277
Total deferred tax assets	$	425,975	$	415,183
Less: Valuation allowance	(206,011)		(212,192)
Total deferred tax assets, net of valuation allowance	$	219,964	$	202,991
Deferred tax liabilities
Intangible assets, net	$	21,884	$	6,598
Property, plant and equipment, net	3,700		1,907
Right-of use lease assets	48,816		40,733
Earn-out liabilities	6,189		5,368
Retirement benefits	6,579		3,404
Investments in foreign subsidiaries not indefinitely reinvested	2,726		1,708
Derivative instruments	2,810		6,153
Goodwill	18,649		29,229
Others	3,453		5,511
Total deferred tax liabilities	$	114,806	$	100,611
Net of deferred tax assets and liabilities	$	105,158	$	102,380

23. Income taxes (Continued)


	As of December 31,
Classified as	2020		2021
Deferred tax assets non-current	$	106,674	$	106,322
Deferred tax liabilities non-current	1,516		3,942
	$	105,158	$	102,380

The change in the Company’s total valuation allowance for deferred tax assets as of December 31, 2019, 2020 and 2021 is as follows:


	Year ended December 31,
	2019		2020		2021
Opening valuation allowance	$	51,986	$	62,628	$	206,011
Reduction during the year	(4,240)		(35,662)		(1,206)
Addition during the year	14,882		179,045		7,387
Closing valuation allowance	$	62,628	$	206,011	$	212,192

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 carry forwards 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 carry forwards, net of the existing valuation allowances as of December 31, 2021. 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, 2019, 2020 and 2021, the Company recognized net excess tax benefits on share-based compensation of $2,743, $7,310 and $7,773, respectively, in income tax expense attributable to continuing operations.

As of December 31, 2021, the Company’s deferred tax assets related to net operating loss carry forwards of $145,525 amounted to $34,459 (excluding state net operating losses). Net operating losses of subsidiaries in the United Kingdom, Brazil, Israel, Hong Kong, Germany, Austria, the United States and Luxembourg (for 2016 and prior years) amounted to $47,025 and can be carried forward for an indefinite period.

23. Income taxes (Continued)

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


	Europe		Others
Year ending December 31,
2022	$	57	$	—
2023	310		1,039
2024	567		2,225
2025	1,772		2
2026	38		19
2028	—		94
2029	—		185
2034	18,820		—
2035	7,357		—
2036	63,374		—
2041	—		2,641
	$	92,295	$	6,205

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

As of December 31, 2021, the Company had additional deferred tax assets for U.S. state and local tax loss carry forwards amounting to $3,134 with varying expiration periods, most of which are between 2022 and 2040.

As of December 31, 2021, the Company had a total foreign tax credit carry forward of $15,724 for subsidiaries in the United States and India which will expire as set forth in the table below:


Year ending December 31,	Amount
2028	6,378
2029	2,554
2030	2,665
2031	3,803
2035	121
2041	203
	$	15,724

Undistributed earnings of the Company’s foreign (non-Bermuda) subsidiaries for which a deferred tax liability has not been recognized due to being indefinitely reinvested amounted to approximately $622,521 as of December 31, 2021. The Company plans to indefinitely reinvest its undistributed earnings, except for those earnings for which a deferred tax liability has already been accrued or which can be repatriated in a tax-free manner. Accordingly, with limited exceptions, the Company does not accrue any income, distribution or withholding taxes that would arise if such earnings were 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.

23. Income taxes (Continued)

As of December 31, 2021, $875,924 of the Company’s $899,458 in cash and cash equivalents was held by the Company’s foreign (non-Bermuda) subsidiaries. $3,481 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 $9,628 of retained earnings. $872,443 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 OCI.

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 2020 and 2021:


	2020		2021
Opening Balance at January 1	$	31,029	$	34,300
Increase related to prior year tax positions, including recorded in acquisition accounting	2,875		2,992
Decrease related to prior year tax positions	(1,309)		(455)
Decrease related to prior year tax positions due to lapse of applicable statute of limitation	(287)		(455)
Increase related to current year tax positions, including recorded in acquisition accounting	2,454		1,385
Decrease related to settlements with taxing authorities	(317)		(11,170)
Effect of exchange rate changes	(145)		(946)
Closing Balance at December 31	$	34,300	$	25,651

As of December 31, 2020 and 2021, the Company had unrecognized tax benefits amounting to $34,300 and $25,651, respectively, which, if recognized, would impact the effective tax rate.

As of December 31, 2020 and 2021, the Company had accrued $6,369 and $2,842, respectively, in interest and $900 and $628, respectively, for penalties relating to unrecognized tax benefits.

During the years ended December 31, 2019, 2020 and 2021, the Company recognized $826, $662 and $(13,851), respectively, in interest related to income taxes.

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. taxing 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 taxing 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, 2011, respectively. The Company regularly reviews the likelihood of additional tax assessments and adjusts its unrecognized tax benefits as additional information or events require.

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

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-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Segment reporting

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment reporting

The Company manages various types of business process and information technology services in an integrated manner for clients in various industries and geographic locations. The Company's operating segments are significant strategic business units that align its products and services with how it manages its business, approaches key markets and interacts with its clients.

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).

24. Segment reporting (Continued)

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, 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						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.

24. Segment reporting (Continued)

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 0perations	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 28)						(26,547)
Income tax expense						(92,201)
Net income						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.”

**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 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.

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2021 were as follows:


	Reportable segments
	BCMI	CGRLH	HMS	Total Reportable segments	Others*	Total
Revenues, net	1,016,786	1,509,534	1,479,153	4,005,473	16,738	4,022,211
Adjusted income from operations	126,972	250,765	272,754	650,491	12,189	662,680
Stock-based compensation						(81,968)
Amortization and impairment of acquired intangible assets (other than included above)						(57,641)
Acquisition-related expenses						(1,177)
Foreign exchange gains (losses), net						12,669
Interest income (expense), net						(51,434)
Income tax expense						(113,681)
Net income						369,448

*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 the impact of over-absorption of overhead, unallocated allowances for credit losses, and 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 14.0%, 12.0% and 9.4% of the Company’s consolidated total net revenues in 2019, 2020 and 2021, 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,
	2019		2020		2021
India	$	1,890,897	$	1,851,347	$	2,022,123
Asia, other than India	356,726		461,839		536,595
North and Latin America	863,748		1,007,635		1,011,759
Europe	409,172		388,556		451,734
Total net revenues	$	3,520,543	$	3,709,377	$	4,022,211

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


	As of December 31,
	2020		2021
India	$	157,129	$	142,237
Asia, other than India	16,790		16,315
North and Latin America	44,934		36,973
Europe	12,269		19,564
Total	$	231,122	$	215,089

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Net revenues

12 Months Ended

Dec. 31, 2021

Revenues [Abstract]

Net revenues

Disaggregation of revenue

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


	Year ended December 31,
	2019		2020		2021
Global Clients	$	3,042,452	$	3,250,527	$	3,646,007
GE	478,091		458,850		376,204
Total net revenues	$	3,520,543	$	3,709,377	$	4,022,211

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.

The Company has evaluated the impact of the COVID-19 pandemic on the Company’s net revenues for the years ended December 31, 2020 and 2021 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 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 COVID-19 pandemic did not have a significant impact on the Company’s net revenues for the year ended December 31, 2021. Due to the nature of the pandemic, the Company will continue to monitor developments to identify significant uncertainties relating to revenue in future periods.

25. Net revenues (Continued)

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 and Note 11 for deferred billings.

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


	As of December 31,
	2020		2021
Contract assets (Note a)	$	15,805	$	13,741
Contract liabilities (Note b)
Deferred transition revenue	$	130,804	$	155,077
Advance from customers	$	92,673	$	85,747

(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 pursuant to the contract with the customer.

Changes in the Company’s contract asset and liability balances during the years ended December 31, 2020 and 2021 were a result of normal business activity and not materially impacted by any other factors.

Revenue recognized during the year ended December 31, 2020 and 2021 that was included in the contract liabilities balance at the beginning of the period was $102,893 and $141,774, respectively.

The following table includes estimated revenue expected to be recognized in the future related to remaining performance obligations as of December 31, 2021:


Particulars	Total		Less than 1 year		1-3 years		3-5 years		After 5 years
Transaction price allocated to remaining performance obligations	$	240,824	$	160,606	$	64,184	$	13,924	$	2,110

25. Net revenues (Continued)

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


	As of December 31, 2020				As of December 31, 2021
Particulars	Sales incentive programs		Transition activities		Sales incentive programs		Transition activities
Opening balance	$	35,366	$	170,132	$	33,390	$	192,507
Closing balance	33,390		192,507		32,296		206,498
Amortization	19,960		68,770		22,227		79,779

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

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+ Details

Other income (expense), net

12 Months Ended

Dec. 31, 2021

Other Nonoperating Income (Expense) [Abstract]

Other income (expense), net

26. Other income (expense), net


	Year ended December 31,
	2019		2020		2021
Government incentives	$	3,976	$	—	$	—
Other income (expense)	1,810		3,238		12,895
Other Income (expense), net	$	5,786	$	3,238	$	12,895

Commitments and contingencies	12 Months Ended
Commitments and contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Capital commitments As of December 31, 2020 and 2021, the Company has committed to spend $5,128 and $13,317, 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 $10,156 and $7,865 as of December 31, 2020 and 2021, 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. 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. 27. Commitments and contingencies (Continued) The Indian taxing authorities (“ITA”) have initiated proceedings to examine the availability of a tax exemption claimed by the Company in respect of exports of services and related refunds under the Indian Goods and Services (“GST”) tax regime and the previous service tax regime. In the second quarter of 2020, ITA began to challenge or reject the Company’s Indian GST and service tax refunds in certain states. In total, refunds of $25,069 have been denied or challenged by the ITA and additional refunds may be denied. The Company is pursuing appeals before relevant appellate authorities. The Company had requested these refunds pursuant to the tax exemption available for exports under the previous service tax regime as well as the current 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. Additional potentially material challenges and assessments may result from ongoing proceedings related to service tax recovery. 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. The Government of India has recently issued an administrative circular which supports the Company’s position, and the Company believes that the appellate authorities will reverse the previous orders denying refunds owed to the Company. Accordingly, no reserve has been provided as of December 31, 2021. An affiliate of the Company in India received an assessment order in 2016 seeking to assess tax amounting to $110,142 (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 Income Tax Appellate Tribunal of India (the “Tribunal”) has accepted the legal arguments raised by the Company in appeal and the assessment order has been cancelled. Taxes paid under protest have been refunded along with interest to the Company. The Indian tax authorities may appeal the order of the Tribunal before higher court. 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, 2021. 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
Restructuring	Dec. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	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 the Company believes it is unlikely that it will be able to sublease 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, which has been subsequently settled. No further restructuring costs have been incurred related to this restructuring plan since the third quarter of 2020.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Share Repurchase Pursuant to its share repurchase program, the Company repurchased 1,444,014 of its common shares on the open market between January 1, 2022 and February 24, 2022 at a weighted average price of $47.09 per share for an aggregate cash amount of $68,000. Dividend In February 2022, the Company announced that its Board of Directors approved a 16% increase in its quarterly cash dividend, representing a planned annual dividend of $0.50 per common share, increased from $0.43 per common share in 2021. The Board of Directors also declared a dividend for the first quarter of 2022 of $0.125 per common share, which will be paid on March 23, 2022 to shareholders of record as of the close of business on March 10, 2022. 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, 2021

Accounting Policies [Abstract]

Basis of preparation and principles of consolidation

(a) Basis of preparation and principles of consolidation

Use of estimates

(b) Use of estimates

Business combinations

Goodwill

Intangible Assets


Customer-related intangible assets	1	-	9 years
Marketing-related intangible assets	1	-	8 years
Technology-related intangible assets	2	-	10 years

Financial instruments and concentration of credit risk

(d) Financial instruments and concentration of credit risk

2. Summary of significant accounting policies (Continued)

Accounts receivable

(e) Accounts receivable

Revenue recognition

(f) Revenue Recognition

2. Summary of significant accounting policies (Continued)

Significant judgements

Leases

(g) Leases

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

Cost of revenue

(h) Cost of revenue

Selling, general and administrative expenses

(i) Selling, general and administrative expensesSelling, 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 intangibles and ROU assets other than those included in cost of revenue.

Credit losses

(j) Credit losses

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

2. Summary of significant accounting policies (Continued)

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

Impairment of long-lived assets

(o) Impairment of long-lived assets

Foreign currency

(p) Foreign currency

2. Summary of significant accounting policies (Continued)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.

Derivative instruments and hedging activities

(q) Derivative instruments and hedging activities

Income taxes

(r) Income taxes

Employee benefit plans

(s) Employee benefit plans

Deferred Compensation Plans

(t) Deferred Compensation Plans

Stock-based compensation

(u) Stock-based compensation

Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from such estimates.

Government incentives

(v) Government incentives

Earnings (loss) per share

(w) Earnings (loss) per share

Commitments and contingencies

(x) Commitments and contingencies

Debt restructuring

(y) Debt restructuring

Recently issued accounting pronouncements

(z) 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, 2021

Accounting Policies [Abstract]

Schedule of estimated useful lives of intangible assets acquired


Customer-related intangible assets	1	-	9 years
Marketing-related intangible assets	1	-	8 years
Technology-related intangible assets	2	-	10 years

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, 2021

Cash and Cash Equivalents [Abstract]

Schedule of cash and cash equivalents


	As of December 31,
	2020		2021
Cash and other bank balances	$	680,440	$	899,458
Total	$	680,440	$	899,458

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

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of allowance for credit losses

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


	Year ended December 31,
	2019		2020		2021
Opening balance as of January 1	$	23,960	$	29,969	$	27,707
Transition period adjustment on accounts receivables (through retained earnings) pursuant to adoption of ASC 326	—		4,185		—
Adjusted balance as of January 1	23,960		34,154		27,707
Additions due to acquisitions	1,004		200		—
Additions charged/reversal released to cost and expense, net	7,443		3,307		910
Deductions/effect of exchange rate fluctuations	(2,438)		(9,954)		(4,288)
Closing balance	$	29,969	$	27,707	$	24,329

Fair value measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value of assets and liabilities, including derivative instruments, at fair value on a recurring basis


	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


	As of December 31, 2021
	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)	$	34,070	$	—	$	34,070	$	—
Deferred compensation plan assets (a, e)	38,584		—		—		38,584
Total	$	72,654	$	—	$	34,070	$	38,584
Liabilities
Earn-out consideration (Note b, d)	$	5,406	$	—	$	—	$	5,406
Derivative instruments (Note b, c)	15,254		—		15,254		—
Deferred compensation plan liability (b, f)	38,007		—		—		38,007
Total	$	58,667	$	—	$	15,254	$	43,413

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

6. Fair value measurements (Continued)

Schedule of roll-forward of fair value of earn-out consideration 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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	22,184	$	8,272
Payments made on earn-out consideration (Note a)	(6,552)		(2,556)
Change in fair value of earn-out consideration (Note b)	(7,790)		(750)
Others (Note c)	430		440
Closing balance	$	8,272	$	5,406

(b)Changes in the fair value of earn-out consideration are reported in “other operating (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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	10,943	$	26,390
Additions (net of redemption)	11,327		7,523
Change in fair value of deferred compensation plan liabilities (Note a)	4,120		4,094
Closing balance	$	26,390	$	38,007

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

Schedule of 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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	11,208	$	26,832
Additions (net of redemption)	11,460		7,523
Change in fair value of deferred compensation plan assets (Note a)	4,164		4,229
Closing balance	$	26,832	$	38,584

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

Schedule of fair value of 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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	22,184	$	8,272
Payments made on earn-out consideration (Note a)	(6,552)		(2,556)
Change in fair value of earn-out consideration (Note b)	(7,790)		(750)
Others (Note c)	430		440
Closing balance	$	8,272	$	5,406

(b)Changes in the fair value of earn-out consideration are reported in “other operating (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, 2020 and 2021:


	Year ended December 31,
	2020		2021
Opening balance	$	10,943	$	26,390
Additions (net of redemption)	11,327		7,523
Change in fair value of deferred compensation plan liabilities (Note a)	4,120		4,094
Closing balance	$	26,390	$	38,007

(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, 2021

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of 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, 2020		As of December 31, 2021		As of December 31, 2020		As of December 31, 2021
Foreign exchange forward contracts denominated in:
United States Dollars (sell) Indian Rupees (buy)	$	1,150,000	$	1,348,600	$	15,207	$	26,247
United States Dollars (sell) Mexican Peso (buy)	17,500		23,750		716		140
United States Dollars (sell) Philippines Peso (buy)	67,200		75,600		1,332		(2,215)
Euro (sell) United States Dollars (buy)	96,651		120,994		(5,659)		2,634
Singapore Dollars (buy) United States Dollars (sell)	10,153		3,655		66		65
Euro (sell) Romanian Leu (buy)	29,489		47,506		(22)		(233)
Japanese Yen (sell) Chinese Renminbi (buy)	19,230		10,440		473		202
United States Dollars (sell) Chinese Renminbi (buy)	—		45,000		—		120
Pound Sterling (sell) United States Dollars (buy)	—		49,031		—		545
United States Dollars (sell) Hungarian Font (buy)	30,000		39,000		904		(2,174)
Hungarian Font (Sell) Euro (buy)	10,444		2,828		61		(17)
Australian Dollars (sell) Indian Rupees (buy)	140,525		97,053		(7,670)		1,234
Interest rate swaps (floating to fixed)	488,022		460,135		(18,680)		(7,732)
					$	(13,272)	$	18,816

7. Derivative financial instruments (Continued)

(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.

Schedule of fair value of derivative instruments and their location in the Company's 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, 2020		As of December 31, 2021		As of December 31, 2020		As of December 31, 2021
Assets
Prepaid expenses and other current assets	$	16,188	$	16,064	$	5,357	$	3,130
Other assets	$	6,164	$	14,876	$	—	$	—
Liabilities
Accrued expenses and other current liabilities	$	16,387	$	11,408	$	3,785	$	1,090
Other liabilities	$	16,886	$	2,756	$	3,923	$	—

Schedule gains (losses) recorded as component of other comprehensive income (loss) in connection with cash flow hedges

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,
	2019						2020						2021
	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	$	(2,411)	$	(5,524)	$	(7,935)	$	(4,126)	$	(1,466)	$	(5,592)	$	(10,921)	$	1,861	$	(9,060)
Net gains (losses) reclassified into statement of income on completion of hedged transactions	19,401		(7,212)		12,189		(6,171)		605		(5,566)		7,628		(1,836)		5,792
Changes in fair value of effective portion of outstanding derivatives, net	17,686		(3,154)		14,532		(12,966)		3,932		(9,034)		36,017		(7,101)		28,916
Gain (loss) on cash flow hedging derivatives, net	(1,715)		4,058		2,343		(6,795)		3,327		(3,468)		28,389		(5,265)		23,124
Closing balance	$	(4,126)	$	(1,466)	$	(5,592)	$	(10,921)	$	1,861	$	(9,060)	$	17,468	$	(3,404)	$	14,064

Schedule of gains or 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:


Derivatives in Cash Flow Hedging Relationships	Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)						Location of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)
	Year ended December 31,							Year ended December 31,
	2019		2020		2021			2019		2020		2021
Forward foreign exchange contracts	$	24,581	$	6,933	$	32,270	Revenue	$	6,782	$	4,432	$	1,354
Interest rate swaps	(6,895)		(19,899)		2,931		Cost of revenue	6,435		(4,553)		11,155
Treasury rate lock	—		—		816		Selling, general and administrative expenses	1,732		(1,266)		3,012
							Interest expense	4,452		(4,784)		(7,893)
	$	17,686	$	(12,966)	$	36,017		$	19,401	$	(6,171)	$	7,628

Non-designated Hedges


Derivatives not designated as hedging instruments	Location of Gain (Loss) recognized in Statement of Income on Derivatives	Amount of Gain (Loss) recognized in Statement of Income on Derivatives
		Year ended December 31,
		2019		2020		2021
Forward foreign exchange contracts (Note a)	Foreign exchange gains (losses), net	$	4,299	$	(8,055)	$	12,116
Forward foreign exchange contracts (Note b)	Foreign exchange gains (losses), net	—		3,963		—
		$	4,299	$	(4,092)	$	12,116

7. Derivative financial instruments (Continued)

Prepaid expenses and other current assets (Tables)

12 Months Ended

Dec. 31, 2021

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,
	2020		2021
Advance income and non-income taxes	$	73,008	$	28,075
Contract asset (Note 25)	9,035		8,506
Prepaid expenses	32,375		38,528
Derivative instruments	21,545		19,194
Employee advances	2,636		2,797
Deposits	8,774		5,839
Advances to suppliers	2,716		804
Others	37,319		30,698
Total	$	187,408	$	134,441

Property, plant and equipment, net (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment, net

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


	As of December 31,
	2020		2021
Land	$	5,792	$	7,292
Buildings	41,622		41,282
Furniture and fixtures	52,610		52,901
Computer equipment and servers	270,376		309,551
Plant, machinery and equipment	109,722		108,527
Computer software	141,417		138,343
Leasehold improvements	126,761		114,747
Vehicles	152		162
Capital work in progress	44,011		45,647
Property, plant and equipment, gross	$	792,463	$	818,452
Less: Accumulated depreciation, amortization and impairment	(561,341)		(603,363)
Property, plant and equipment, net	$	231,122	$	215,089

Goodwill and intangible assets (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

The following table presents the changes in goodwill for the years ended December 31, 2020 and 2021:


	As of December 31,
	2020		2021
Opening balance	$	1,574,466	$	1,695,688
Goodwill relating to acquisitions consummated during the period	123,595		44,216
Impact of measurement period adjustments	(5,653)		1,205
Effect of exchange rate fluctuations	3,280		(10,082)
Closing balance	$	1,695,688	$	1,731,027

Schedule of changes in goodwill by reporting unit

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

10. Goodwill and intangible assets (Continued)

The following table presents the changes in goodwill by reporting unit for the year ended December 31, 2021:


	BCMI		CGRLH		HMS		Total
Opening balance	$	420,172	$	607,574	$	667,942	$	1,695,688
Goodwill relating to acquisitions consummated during the period	4,167		7,032		33,017		44,216
Impact of measurement period adjustments	35		309		861		1,205
Effect of exchange rate fluctuations	(3,117)		(3,795)		(3,170)		(10,082)
Closing balance	$	421,257	$	611,120	$	698,650	$	1,731,027

Schedule of intangible assets

The Company’s intangible assets are as follows:


	As of December 31, 2020						As of December 31, 2021
	Gross carrying amount		Accumulated amortization & Impairment		Net		Gross carrying amount		Accumulated amortization & Impairment		Net
Customer-related intangible assets	$	478,189	$	359,652	$	118,537	$	489,974	$	394,688	$	95,286
Marketing-related intangible assets	96,561		61,154		35,407		98,870		76,663		22,207
Technology-related intangible assets	152,293		90,866		61,427		171,772		119,630		52,142
Intangible assets under development	23,864		2,503		21,361		—		—		—
Total	$	750,907	$	514,175	$	236,732	$	760,616	$	590,981	$	169,635

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, 2019, 2020 and 2021:


	Year ended December 31,
	2019		2020		2021
Technology related intangibles	$	3,511	$	5,179	$	205
Customer related intangibles	—		938		—
Total Intangibles	$	3,511	$	6,117	$	205
Property, plant and equipment	$	—	$	7,966	$	710
Total Property, plant and equipment	$	—	$	7,966	$	710
Grand Total	$	3,511	$	14,083	$	915

Schedule of estimated amortization for 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:
2022	$	63,620
2023	48,718
2024	32,938
2025	19,527
2026 and beyond	4,832
Total	$	169,635

Other Assets (Tables)

12 Months Ended

Dec. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of other assets

Other assets consist of the following:


	As of December 31,
	2020		2021
Contract asset (Note 25)	$	6,770	$	5,235
Advance income and non-income taxes	155,035		124,219
Deposits	32,058		28,463
Derivative instruments	6,164		14,876
Prepaid expenses	5,176		5,979
Deferred billings, net*	25,357		44,360
Right of use (ROU) assets finance lease	50,083		34,284
Others	43,175		64,742
Total	$	323,818	$	322,158

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Schedule of components of lease cost for operating and finance leases

The components of lease cost for operating and finance leases for the years ended December 31, 2019, 2020 and 2021 are summarized below:


	Year ended December 31, 2019		Year ended December 31, 2020		Year ended December 31, 2021
Finance lease cost:
Amortization of ROU assets (Note a)	9,302		12,483		15,549
Interest on lease liabilities (Note b)	2,997		2,454		2,538
Operating lease cost (Note c)	74,436		88,596		81,637
Short-term lease cost (Note c)	438		1,643		1,057
Variable lease cost (Note c)	4,052		5,347		5,307
Total lease cost	$	91,225	$	110,523	$	106,088

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 on leases

Other information


	Year ended December 31, 2019		Year ended December 31, 2020		Year ended December 31, 2021
Weighted-average remaining lease term—finance leases	3.9 years		3.1 years		2.34 years
Weighted-average remaining lease term—operating leases	6.77 years		6.42 years		5.76 years
Weighted-average discount rate—finance leases	9.20	%	6.61	%	5.70	%
Weighted-average discount rate—operating leases	6.87	%	7.28	%	6.98	%


	Year ended December 31, 2019		Year ended December 31, 2020		Year ended December 31, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from finance leases	$	2,859	$	2,898	$	2,592
Operating cash flows from operating leases	$	72,645	$	92,010	$	80,159
Financing cash flows from finance leases	$	7,380	$	10,567	$	13,926

Schedule of future minimum lease payments under operating lease arrangements


Period range	Finance lease		Operating lease
2022	$	20,008	$	80,226
2023	10,178		73,374
2024	5,105		62,132
2025	2,062		64,383
2026	34		37,131
Thereafter	—		66,004
Total lease payments	$	37,387	$	383,250
Less: Imputed interest	2,541		73,952
Total lease liabilities	$	34,846	$	309,298


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

Schedule of future minimum lease payments under finance lease arrangements


Period range	Finance lease		Operating lease
2022	$	20,008	$	80,226
2023	10,178		73,374
2024	5,105		62,132
2025	2,062		64,383
2026	34		37,131
Thereafter	—		66,004
Total lease payments	$	37,387	$	383,250
Less: Imputed interest	2,541		73,952
Total lease liabilities	$	34,846	$	309,298


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

Accrued expenses and other current liabilities (Tables)

12 Months Ended

Dec. 31, 2021

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,
	2020		2021
Accrued expenses	$	150,390	$	162,054
Accrued employee cost	286,399		307,777
Earn-out consideration	2,651		2,501
Statutory liabilities	104,768		67,948
Retirement benefits	1,967		1,746
Compensated absences	28,635		26,596
Derivative instruments	20,172		12,498
Contract liabilities (Note 25)	154,717		160,602
Finance lease liability	18,066		18,549
Others	39,004		31,169
Total	$	806,769	$	791,440

Long-term debt (Tables)

12 Months Ended

Dec. 31, 2021

Debt Disclosure [Abstract]

Schedule of maturity profile of term loan outstanding net of debt amortization expense

The maturity profile of the term loan outstanding as of December 31, 2021, net of debt amortization expense, is as follows:


Year ended	Amount
2022	33,564
2023	526,749
Total	$	560,313

Schedule of long term debt

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


	As of December 31,
	2020		2021
Credit facility, net of debt amortization expenses	$	593,850	$	560,313
3.70% 2017 Senior Notes, net of debt amortization expenses	349,342		349,869
3.375% 2019 Senior Notes, net of debt amortization expenses	397,716		398,298
1.750% 2021 Senior Notes, net of debt amortization expenses	$	—	$	347,429
Total	$	1,340,908	$	1,655,909
Current portion	33,537		383,433
Non-current portion	1,307,371		1,272,476
Total	$	1,340,908	$	1,655,909

- Definition

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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 3
-Subparagraph (SX 210.12-04(a))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28541-108399

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21506-112644

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69B
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495735-112612

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
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-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=124435984&loc=d3e28551-108399

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 55
-Paragraph 69E
-URI http://asc.fasb.org/extlink&oid=123466577&loc=SL123495743-112612

Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
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-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21521-112644

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21538-112644

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 470
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123599511&loc=d3e64711-112823

Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=123467817&loc=d3e21475-112644

+ Details

Other liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities Disclosure [Abstract]

Schedule of other liabilities

Other liabilities consist of the following:


	As of December 31,
	2020		2021
Accrued employee cost	19,797		15,790
Earn-out consideration	5,621		2,905
Retirement benefits	11,947		11,993
Compensated absences	47,656		52,023
Derivative instruments	20,809		2,756
Contract liabilities (Note 25)	68,760		80,222
Finance lease liability	30,958		16,297
Others	32,850		63,224
Total	$	238,398	$	245,210

Employee benefit plans (Tables)

12 Months Ended

Dec. 31, 2021

Retirement Benefits [Abstract]

Schedule of funded status of the Company's defined benefit plans and the amounts recognized


	As of December 31,
	2020		2021
Change in benefit obligation
Projected benefit obligation at the beginning of the year	$	80,561	$	97,660
Service cost	11,897		14,546
Actuarial loss (Gain)	6,843		(10,436)
Interest cost	5,297		5,497
Liabilities assumed on acquisition/ transfer of employees	180		—
Benefits paid	(6,388)		(9,162)
Settlements	—		(4,328)
Curtailments	—		(181)
Effect of exchange rate changes	(730)		(1,814)
Projected benefit obligation at the end of the year	$	97,660	$	91,782
Change in fair value of plan assets
Fair value of plan assets at the beginning of the year	$	70,900	$	93,809
Employer contributions	24,523		12,907
Actual gain on plan assets	5,370		4,831
Benefits paid	(6,287)		(9,162)
Settlements	—		(3,495)
Effect of exchange rate changes	(697)		(1,915)
Fair value of plan assets at the end of the year	$	93,809	$	96,975
Funded status, end of year	$	(3,851)	$	5,193
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)	$	10,063	$	18,932
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)	(1,967)		(1,746)
Non-current liabilities (recorded under other liabilities- retirement benefits)	(11,947)		(11,993)
Funded status, end of year	$	(3,851)	$	5,193

Schedule of amounts included in accumulated other comprehensive income (loss)

Amounts included in accumulated other comprehensive income (loss) as of December 31, 2019, 2020 and 2021 were as follows:


	As of December 31,
	2019		2020		2021
Net actuarial loss	$	(21,490)	$	(24,669)	$	(13,399)
Net prior service credit / (cost)	(717)		(477)		(300)
Deferred tax benefits	6,171		7,065		3,206
Other comprehensive income (loss), net	$	(16,036)	$	(18,081)	$	(10,493)

Schedule of changes in other comprehensive income (loss)

Changes in other comprehensive income (loss) during the year ended December 31, 2020 and 2021 were as follows:


	As of December 31,
	2020		2021
Net Actuarial (Loss) Gain	$	(5,891)	$	9,019
Amortization of net actuarial loss	2,242		1,379
Deferred tax (expense) benefits	894		(3,859)
Net prior service credit / (cost)	219		170
Curtailment	—		181
Settlements	—		519
Effect of exchange rate changes	491		179
Other comprehensive income (loss), net	$	(2,045)	$	7,588

Schedule of accumulated benefit obligation for defined benefit plans


	As of December 31,
	2020		2021
Accumulated benefit obligation	$	15,441	$	12,496
Fair value of plan assets at the end of the year	$	5,446	$	3,161

The projected benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2020 and 2021 was as follows:


	As of December 31,
	2020		2021
Projected benefit obligation	$	23,090	$	18,806
Fair value of plan assets at the end of the year	$	9,176	$	5,067

Schedule of net defined benefit plan costs

Net defined benefit plan costs for the years ended December 31, 2019, 2020 and 2021 include the following components:


	Year ended December 31,
	2019		2020		2021
Service costs	$	8,915	$	11,897	$	14,546
Interest costs	4,667		5,297		5,497
Amortization of actuarial loss	1,384		2,461		1,549
Expected return on plan assets	(2,605)		(4,589)		(6,239)
One-time cost	202		—		—
Settlements	—		—		519
Net defined benefit plan costs	$	12,563	$	15,066	$	15,872

Schedule of weighted average assumptions used to determine benefit obligations and plan costs

The weighted average assumptions used to determine the benefit obligations of the Indian Gratuity Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020				2021
Discount rate	4.45	%	-	5.90%	5.25	%	-	6.45%
Rate of increase in compensation per annum	5.20	%	-	9.00%	4.60	%	-	8.00%

The weighted average assumptions used to determine the Indian Gratuity Plan costs for the years ended December 31, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019			2020			2021
Discount rate	8.30 %	-	8.40 %	6.80 %	-	7.35 %	4.45%	-	5.90%
Rate of increase in compensation per annum	5.20 %	-	11.00 %	5.20 %	-	11.50 %	5.20%	-	9.00%
Expected long term rate of return on plan assets per annum	7.50%			7.50%			7.00%	-	7.50%

The weighted average assumptions used to determine the benefit obligations of the Mexican Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020		2021
Discount rate	7.20	%	8.20	%
Rate of increase in compensation per annum	5.50	%	5.50	%

The weighted average assumptions used to determine the costs of the Mexican Plan for the years ended December 31, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019		2020		2021
Discount rate	9.40	%	7.60	%	7.20	%
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, 2020 and 2021 are presented below:


	As of December 31,
	2020		2021
Discount rate	5.26	%	7.67%
Rate of increase in compensation per annum	5.00	%	3.00%	-	6.00%

The weighted average assumptions used to determine the costs of the Philippines Plan for the years ended December 31, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019		2020		2021
Discount rate	7.53	%	5.22	%	5.26	%
Rate of increase in compensation per annum	6.00	%	6.00	%	5.00	%
Expected long-term rate of return on plan assets per annum	1.00	%	2.40	%	2.00	%

The weighted average assumptions used to determine the benefit obligation of the Japan Plan as of December 31, 2020 and 2021 are presented below:


	As of December 31,
	2020			2021
Discount rate	0.17%	—	0.41%	0.14%	—	0.81%
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, 2019, 2020 and 2021 are presented below:


	Year ended December 31,
	2019			2020			2021
Discount rate	0.076 %	-	0.269 %	0.094%	-	0.271%	0.17	%	-	0.41%
Rate of increase in compensation per annum	0.00 %			0.00 %			0.00%
Expected long term rate of return on plan assets per annum	0.00 %	-	1.77 %	0.00%	-	1.77%	1.77	%	-	3.12%

Schedule of fair values of plan assets

The fair values of the Company’s plan assets as of December 31, 2020 and 2021 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
Cash	21,707		21,707		—		—
Fixed income securities (Note a)	63,444		—		63,444		—
Other securities (Note b)	8,658		—		8,658		—
Total	$	93,809	$	21,707	$	72,102	$	—


	As of December 31, 2021
	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
Cash	14,059		14,059		—		—
Fixed income securities (Note a)	80,612		—		80,612		—
Other securities (Note b)	2,304		—		2,304		—
Total	$	96,975	$	14,059	$	82,916	$	—

(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.

Schedule of expected benefit plan payments

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


Year ending December 31,
2022	$	12,938
2023	13,353
2024	14,310
2025	15,182
2026	16,250
2027 - 2031	83,964
	$	155,997

Schedule of amounts contributed to defined contribution plans in various jurisdictions

During the years ended December 31, 2019, 2020 and 2021, the Company contributed the following amounts to defined contribution plans in various jurisdictions:


	Year ended December 31,
	2019		2020		2021
India	$	29,729	$	30,396	$	37,508
U.S.	19,401		19,491		21,496
U.K.	19,260		18,643		19,874
China	18,816		16,436		24,988
Other regions	8,538		11,481		15,516
Total	$	95,744	$	96,447	$	119,382

Stock-based compensation (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Schedule of significant assumptions used in determining 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 2019, 2020 and 2021:


	2019			2020	2021
Dividend yield	0.82%	—	1.08%	0.89%	0.84%	—	1.08%
Expected life (in months)	84			84	84
Risk-free rate of interest for expected life	1.56%	—	2.63%	1.50%	1.12%	—	1.37%
Volatility	21.00%	—	21.38%	20.96%	26.05%	—	26.18%

Schedule of stock option activity

A summary of stock option activity during the years ended December 31, 2019, 2020 and 2021 is set out below:


	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


	Year Ended December 31, 2021
	Shares arising out of options		Weighted average exercise price		Weighted average remaining contractual life (years)	Aggregate intrinsic value
Outstanding as of January 1, 2021	7,347,241		$	26.41	5.7	—
Granted	1,831,180		43.98		—	—
Forfeited	(25,000)		31.50		—	—
Expired	—		—		—	—
Exercised	(1,145,125)		20.23		—	30,463
Outstanding as of December 31, 2021	8,008,296		$	31.30	6.1	$	174,428
Vested as of December 31, 2021 and expected to vest thereafter (Note a)	7,422,919		$	30.51	6.1	$	167,551
Vested and exercisable as of December 31, 2021	3,117,333		$	24.17	3.4	$	90,117
Weighted average grant-date fair value of options granted during the period	$	11.35

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

Schedule of RSU activity

A summary of RSU activity during the years ended December 31, 2019, 2020 and 2021 is set out below:


	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 b)	(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 c)	(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

18. Stock-based compensation (Continued)


	Year ended December 31, 2021
	Number of Restricted Share Units	Weighted Average Grant Date Fair Value
Outstanding as of January 1, 2021	860,308	$	36.44
Granted	466,702	44.00
Vested (Note d)	(501,273)	34.41
Forfeited	(66,230)	38.02
Outstanding as of December 31, 2021	759,507	$	42.29
Expected to vest (Note a)	654,594

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

Schedule of Performance Units activity

A summary of PU activity during the years ended December 31, 2019, 2020 and 2021 is set out below:


	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 b)	(3,276)	27.47		(3,276)
Forfeited	(248,031)	29.04		(278,755)
Adjustment upon final determination of level of performance goal achievement (Note c)	1,018,260	34.72
Adjustment upon final determination of level of performance goal achievement (Note d)				(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 e)	(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 f)	(399,987)	42.60
Adjustment upon final determination of level of performance goal achievement (Note g)				(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


	Year ended December 31, 2021
	Number of Performance Units	Weighted Average Grant Date Fair Value		Maximum Shares Eligible to Receive
Outstanding as of January 1, 2021	4,876,196	$	34.56	4,876,196
Granted	1,340,877	44.06		2,681,754
Vested (Note h)	(1,784,140)	30.66		(1,784,140)
Forfeited	(258,258)	39.97		(320,098)
Adjustment upon final determination of level of performance goal achievement (Note i)	408,480	43.99
Adjustment upon final determination of level of performance goal achievement (Note j)				(870,557)
Outstanding as of December 31, 2021	4,583,155	$	39.40	4,583,155
Expected to vest (Note a)	4,263,803

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

18. Stock-based compensation (Continued)

(b)PUs that vested in 2019 were net settled upon vesting by issuing 2,151 shares (net of minimum statutory tax withholding).

(e)Vested PUs in the year 2020 were net settled upon vesting by issuing 902,532 shares (net of minimum statutory tax withholding).

(h)1,784,140 PSUs that vested during the year 2021 were net settled upon vesting by issuing 1,102,440 shares (net of minimum statutory tax withholding).

Earnings per share (Tables)

12 Months Ended

Dec. 31, 2021

Earnings Per Share [Abstract]

Schedule of earnings per share


	Year ended December 31,
	2019		2020		2021
Net income	$	304,881	$	308,276	$	369,448
Weighted average number of common shares used in computing basic earnings per common share	190,074,475		190,396,780		187,802,219
Dilutive effect of stock-based awards	5,086,380		5,384,191		5,159,622
Weighted average number of common shares used in computing dilutive earnings per common share	195,160,855		195,780,971		192,961,841
Earnings per common share
Basic	$	1.60	$	1.62	$	1.97
Diluted	$	1.56	$	1.57	$	1.91

Other operating (income) expense, net (Tables)

12 Months Ended

Dec. 31, 2021

Other Income and Expenses [Abstract]

Schedule of other operating (income) expense, net


	Year ended December 31,
	2019		2020		2021
Write-down of intangible assets and property, plant and equipment*	$	3,511	$	14,083	$	915
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)	—		(7,790)		(750)
Other operating (income) expense#	(34,545)		(5,046)		(1,368)
Other operating (income) expense, net	$	(31,034)	$	19,331	$	(1,203)

* Refer to Notes 10 and 28 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, 2021

Banking and Thrift, Interest [Abstract]

Schedule of interest income (expense), net

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


	Year ended December 31,
	2019		2020		2021
Interest income	$	7,321	$	7,284	$	6,878
Interest expense	(50,779)		(56,244)		(58,312)
Interest income (expense), net	$	(43,458)	$	(48,960)	$	(51,434)

Income taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of income tax expense (benefit)

Income tax expense (benefit) for the years ended December 31, 2019, 2020 and 2021 is allocated as follows:


	Year ended December 31,
	2019		2020		2021
Income from continuing operations	$	94,536	$	92,201	$	113,681
Other comprehensive income:
Unrealized gains (losses) on cash flow hedges	(4,058)		(3,327)		5,265
Retirement benefits	(2,720)		(894)		3,859
Retained earnings:
Deferred tax benefit recognized on adoption of ASU 2016-13	—		(935)		—

Schedule of components of income before income tax expense from continuing operations

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


	Year ended December 31,
	2019		2020		2021
Domestic (U.S.)	$	27,783	$	122,497	$	126,107
Foreign (other than U.S.)	371,634		277,980		357,022
Income before income tax expense	$	399,417	$	400,477	$	483,129

Schedule of 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,
	2019		2020		2021
Current tax expense:
Domestic (U.S. federal)	$	2,854	$	23,668	$	34,538
Domestic (U.S. state)	3,908		10,765		5,605
Foreign (other than U.S.)	104,089		80,355		82,801
	$	110,851	$	114,788	$	122,944
Deferred tax expense (benefit):
Domestic (U.S. federal)	$	2,669	$	(7,329)	$	(6,039)
Domestic (U.S. state)	(1,679)		(3,770)		232
Foreign (other than U.S.)	(17,305)		(11,488)		(3,456)
	$	(16,315)	$	(22,587)	$	(9,263)
Total income tax expense (benefit)	$	94,536	$	92,201	$	113,681

Schedule of income tax expense (benefit) computed by applying the U.S. federal statutory income tax rate to income before income taxes


	Year ended December 31,
	2019			2020			2021
Income before income tax expense	$	399,417		$	400,477		$	483,129
Statutory tax rates	21		%	21		%	21		%
Computed expected income tax expense	83,878			84,100			101,457
Increase (decrease) in income taxes resulting from:
Foreign tax rate differential	31,121			15,456			10,747
Tax benefit from tax holiday	(21,393)			(16,063)			(3,159)
True-up of prior years tax liability	(3,568)			(3,420)			7,590
Interest income on income tax refund	—			—			(7,780)
Non-deductible expenses	2,152			372			1,755
Effect of change in tax rates	6,497			453			1,740
Change in valuation allowance	10,515			142,733			6,244
Unrecognized tax benefits	5,502			3,228			(327)
Employment related tax incentive	(5,239)			—			(3,930)
Internal restructuring	—			(129,688)			—
State income taxes	2,229			6,995			5,837
Excess tax benefit on share-based compensation	(2,743)			(7,310)			(7,773)
Others*	(14,415)			(4,655)			1,280
Reported income tax expense (benefit)	$	94,536		$	92,201		$	113,681

Schedule of components of deferred tax balances

The components of the Company’s deferred tax balances as of December 31, 2020 and 2021 are as follows:


	As of December 31,
	2020		2021
Deferred tax assets
Net operating loss carry forwards	$	37,278	$	37,593
Accrued expenses and other liabilities	70,634		70,802
Allowance for credit losses	9,930		9,000
Property, plant & equipment, net	3,387		4,079
Lease liabilities	59,823		50,091
Share-based compensation	35,424		31,147
Intangible assets, net	165,347		168,737
Retirement benefits	14,761		9,721
Contract liabilities	6,080		8,012
Tax credit carry forwards	8,692		15,724
Others	14,619		10,277
Total deferred tax assets	$	425,975	$	415,183
Less: Valuation allowance	(206,011)		(212,192)
Total deferred tax assets, net of valuation allowance	$	219,964	$	202,991
Deferred tax liabilities
Intangible assets, net	$	21,884	$	6,598
Property, plant and equipment, net	3,700		1,907
Right-of use lease assets	48,816		40,733
Earn-out liabilities	6,189		5,368
Retirement benefits	6,579		3,404
Investments in foreign subsidiaries not indefinitely reinvested	2,726		1,708
Derivative instruments	2,810		6,153
Goodwill	18,649		29,229
Others	3,453		5,511
Total deferred tax liabilities	$	114,806	$	100,611
Net of deferred tax assets and liabilities	$	105,158	$	102,380

23. Income taxes (Continued)


	As of December 31,
Classified as	2020		2021
Deferred tax assets non-current	$	106,674	$	106,322
Deferred tax liabilities non-current	1,516		3,942
	$	105,158	$	102,380

Schedule of change in total valuation allowance for deferred tax assets

The change in the Company’s total valuation allowance for deferred tax assets as of December 31, 2019, 2020 and 2021 is as follows:


	Year ended December 31,
	2019		2020		2021
Opening valuation allowance	$	51,986	$	62,628	$	206,011
Reduction during the year	(4,240)		(35,662)		(1,206)
Addition during the year	14,882		179,045		7,387
Closing valuation allowance	$	62,628	$	206,011	$	212,192

Schedule of remaining tax loss carry-forwards expiration


	Europe		Others
Year ending December 31,
2022	$	57	$	—
2023	310		1,039
2024	567		2,225
2025	1,772		2
2026	38		19
2028	—		94
2029	—		185
2034	18,820		—
2035	7,357		—
2036	63,374		—
2041	—		2,641
	$	92,295	$	6,205

Schedule of foreign tax credit carry-forward expiry period

As of December 31, 2021, the Company had a total foreign tax credit carry forward of $15,724 for subsidiaries in the United States and India which will expire as set forth in the table below:


Year ending December 31,	Amount
2028	6,378
2029	2,554
2030	2,665
2031	3,803
2035	121
2041	203
	$	15,724

Schedule of activities related to unrecognized tax benefits

The following table summarizes activities related to our unrecognized tax benefits from January 1 to December 31 for each of 2020 and 2021:


	2020		2021
Opening Balance at January 1	$	31,029	$	34,300
Increase related to prior year tax positions, including recorded in acquisition accounting	2,875		2,992
Decrease related to prior year tax positions	(1,309)		(455)
Decrease related to prior year tax positions due to lapse of applicable statute of limitation	(287)		(455)
Increase related to current year tax positions, including recorded in acquisition accounting	2,454		1,385
Decrease related to settlements with taxing authorities	(317)		(11,170)
Effect of exchange rate changes	(145)		(946)
Closing Balance at December 31	$	34,300	$	25,651

Segment reporting (Tables)

12 Months Ended

Dec. 31, 2021

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, 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						304,881

24. Segment reporting (Continued)

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 0perations	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 28)						(26,547)
Income tax expense						(92,201)
Net income						308,276

Revenues and adjusted income from operations for each of the Company’s segments for the year ended December 31, 2021 were as follows:


	Reportable segments
	BCMI	CGRLH	HMS	Total Reportable segments	Others*	Total
Revenues, net	1,016,786	1,509,534	1,479,153	4,005,473	16,738	4,022,211
Adjusted income from operations	126,972	250,765	272,754	650,491	12,189	662,680
Stock-based compensation						(81,968)
Amortization and impairment of acquired intangible assets (other than included above)						(57,641)
Acquisition-related expenses						(1,177)
Foreign exchange gains (losses), net						12,669
Interest income (expense), net						(51,434)
Income tax expense						(113,681)
Net income						369,448

Schedule of net revenues from geographic areas based on location of service delivery centers


	Year ended December 31,
	2019		2020		2021
India	$	1,890,897	$	1,851,347	$	2,022,123
Asia, other than India	356,726		461,839		536,595
North and Latin America	863,748		1,007,635		1,011,759
Europe	409,172		388,556		451,734
Total net revenues	$	3,520,543	$	3,709,377	$	4,022,211

Schedule of property, plant and equipment, net by geographic areas

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


	As of December 31,
	2020		2021
India	$	157,129	$	142,237
Asia, other than India	16,790		16,315
North and Latin America	44,934		36,973
Europe	12,269		19,564
Total	$	231,122	$	215,089

Net revenues (Tables)

12 Months Ended

Dec. 31, 2021

Revenues [Abstract]

Schedule of net revenues disaggregated by customer

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


	Year ended December 31,
	2019		2020		2021
Global Clients	$	3,042,452	$	3,250,527	$	3,646,007
GE	478,091		458,850		376,204
Total net revenues	$	3,520,543	$	3,709,377	$	4,022,211

Schedule of details of Company's contract liabilities

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


	As of December 31,
	2020		2021
Contract assets (Note a)	$	15,805	$	13,741
Contract liabilities (Note b)
Deferred transition revenue	$	130,804	$	155,077
Advance from customers	$	92,673	$	85,747

(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.

Schedule of estimated revenue expected to be recognized in the 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, 2021:


Particulars	Total		Less than 1 year		1-3 years		3-5 years		After 5 years
Transaction price allocated to remaining performance obligations	$	240,824	$	160,606	$	64,184	$	13,924	$	2,110

Schedule of contract cost assets

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


	As of December 31, 2020				As of December 31, 2021
Particulars	Sales incentive programs		Transition activities		Sales incentive programs		Transition activities
Opening balance	$	35,366	$	170,132	$	33,390	$	192,507
Closing balance	33,390		192,507		32,296		206,498
Amortization	19,960		68,770		22,227		79,779

Other income (expense), net (Tables)

12 Months Ended

Dec. 31, 2021

Other Nonoperating Income (Expense) [Abstract]

Schedule of other Income (expense), net


	Year ended December 31,
	2019		2020		2021
Government incentives	$	3,976	$	—	$	—
Other income (expense)	1,810		3,238		12,895
Other Income (expense), net	$	5,786	$	3,238	$	12,895

Organization (Detail)	Dec. 31, 2021 Country
Accounting Policies [Abstract]
Number of countries in which entity operates	30

Summary of Significant Accounting Policies - Schedule of estimated useful lives of intangible assets acquired (Detail)	12 Months Ended
	Dec. 31, 2021
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	9 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	8 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	10 years

Summary of Significant Accounting Policies - Narrative (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Minimum
Schedule Of Significant Accounting Policies [Line Items]
Additional terms of termination option	1 year
Short term investment, maturity period	3 months
Maximum
Schedule Of Significant Accounting Policies [Line Items]
Additional terms of termination option	10 years
Short term investment, maturity period	1 year
Customer Concentration Risk \| Receivables \| GE
Schedule Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	8.00%	16.00%
Customer Concentration Risk \| Revenue From Contract With Customer \| GE
Schedule Of Significant Accounting Policies [Line Items]
Concentration risk, percentage	9.00%	12.00%	14.00%

Summary of Significant Accounting Policies - Schedule of estimated economic useful lives of property, plant and equipment (Detail)	12 Months Ended
	Dec. 31, 2021
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 \| Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful lives	10 years
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 - Hoodoo Digital, LLC. - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Payment for business acquisitions, net of cash acquired	$ 72,025	$ 186,633	$ 252,276
Goodwill	1,731,027	1,695,688	1,574,466
Acquisition related cost	$ 1,177	$ 2,650	$ 8,352
Hoodoo Digital, LLC
Business Acquisition [Line Items]
Ownership percentage acquired (in percentage)	100.00%
Purchase consideration	$ 66,592
Payment for business acquisitions, net of cash acquired	64,310
Cash and cash equivalents	2,283
Cash consideration to acquired certain assets and assumed certain liabilities	67,695
Consideration receivable	$ 1,102
Acquired intangible assets, weighted average amortization period	5 years
Goodwill	$ 44,216
Acquisition related cost	1,177
Acquired assets	5,629
Liabilities assumed	1,852
Indemnification assets	278
Hoodoo Digital, LLC \| BCMI
Business Acquisition [Line Items]
Goodwill	4,167
Hoodoo Digital, LLC \| CGRLH
Business Acquisition [Line Items]
Goodwill	7,032
Hoodoo Digital, LLC \| HMS
Business Acquisition [Line Items]
Goodwill	33,017
Hoodoo Digital, LLC \| Customer-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	16,200
Hoodoo Digital, LLC \| Marketing-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	$ 2,400

Business acquisitions - Enquero, Inc. - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Payment for business acquisitions, net of cash acquired		$ 72,025	$ 186,633	$ 252,276
Goodwill	$ 1,695,688	1,731,027	1,695,688	1,574,466
Acquisition related cost		$ 1,177	2,650	$ 8,352
Enquero Inc.
Business Acquisition [Line Items]
Purchase consideration	148,797
Payment for business acquisitions, net of cash acquired	137,166
Cash and cash equivalents	11,631
Cash consideration to acquired certain assets and assumed certain liabilities	$ 141,938
Acquired intangible assets, weighted average amortization period	4 years
Goodwill	$ 87,874		87,874
Acquisition related cost	1,590
Acquired assets	32,879		32,879
Liabilities assumed	17,232		17,232
Recognized net deferred tax liability	14,343		14,343
Indemnification assets	5,968		5,968
Enquero Inc. \| BCMI
Business Acquisition [Line Items]
Goodwill	2,594		2,594
Enquero Inc. \| CGRLH
Business Acquisition [Line Items]
Goodwill	22,548		22,548
Enquero Inc. \| HMS
Business Acquisition [Line Items]
Goodwill	62,732		62,732
Enquero Inc. \| Customer-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	49,000		49,000
Enquero Inc. \| Marketing-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	9,500		9,500
Enquero Inc. \| Technology-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	$ 1,400		$ 1,400
Hoodoo Digital, LLC
Business Acquisition [Line Items]
Ownership percentage acquired (in percentage)		100.00%
Purchase consideration		$ 66,592
Payment for business acquisitions, net of cash acquired		64,310
Cash and cash equivalents		2,283
Cash consideration to acquired certain assets and assumed certain liabilities		$ 67,695
Acquired intangible assets, weighted average amortization period		5 years
Goodwill		$ 44,216
Acquisition related cost		1,177
Acquired assets		5,629
Liabilities assumed		1,852
Indemnification assets		278
Hoodoo Digital, LLC \| BCMI
Business Acquisition [Line Items]
Goodwill		4,167
Hoodoo Digital, LLC \| CGRLH
Business Acquisition [Line Items]
Goodwill		7,032
Hoodoo Digital, LLC \| HMS
Business Acquisition [Line Items]
Goodwill		33,017
Hoodoo Digital, LLC \| Customer-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles		16,200
Hoodoo Digital, LLC \| Marketing-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles		$ 2,400

Business acquisitions - SomethingDigital.Com LLC - Narrative (Details) $ in Thousands		12 Months Ended
	Oct. 05, 2020 USD ($) numberOfOperatingSegment	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Payment for business acquisitions, net of cash acquired		$ 72,025	$ 186,633	$ 252,276
Goodwill		1,731,027	1,695,688	1,574,466
Goodwill deductible for tax purposes		326,795	296,046
Acquisition related cost		$ 1,177	$ 2,650	$ 8,352
SomethingDigital.Com LLC
Business Acquisition [Line Items]
Ownership percentage acquired (in percentage)	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
Acquired intangible assets, weighted average amortization period	4 years
Goodwill	$ 36,926
Number of reportable segments \| numberOfOperatingSegment	2
Goodwill deductible for tax purposes	$ 35,084
Acquisition related cost	1,060
Acquired assets	9,538
Liabilities assumed	4,494
Net deferred tax assets	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]
Acquired intangibles	11,900
SomethingDigital.Com LLC \| Marketing-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	$ 3,500
Hoodoo Digital, LLC
Business Acquisition [Line Items]
Ownership percentage acquired (in percentage)		100.00%
Purchase consideration		$ 66,592
Payment for business acquisitions, net of cash acquired		64,310
Cash and cash equivalents		2,283
Cash consideration to acquired certain assets and assumed certain liabilities		67,695
Consideration receivable		$ 1,102
Acquired intangible assets, weighted average amortization period		5 years
Goodwill		$ 44,216
Acquisition related cost		1,177
Acquired assets		5,629
Liabilities assumed		1,852
Hoodoo Digital, LLC \| CGRLH
Business Acquisition [Line Items]
Goodwill		7,032
Hoodoo Digital, LLC \| HMS
Business Acquisition [Line Items]
Goodwill		33,017
Hoodoo Digital, LLC \| Customer-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles		16,200
Hoodoo Digital, LLC \| Marketing-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles		$ 2,400

Business Acquisitions - Rightpoint Consulting, LLC - Narrative (Detail) - USD ($) $ in Thousands		12 Months Ended
	Nov. 12, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Goodwill		$ 1,731,027	$ 1,695,688	$ 1,574,466
Goodwill deductible for tax purposes		326,795	296,046
Acquisition related cost		1,177	$ 2,650	$ 8,352
Rightpoint Consulting LLC
Business Acquisition [Line Items]
Ownership percentage acquired (in percentage)	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	$ 5,406
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%
Deferred earn out consideration 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 earnout consideration to certain selling equity holders	$ 21,500
Vested options 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 liability	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]
Acquired intangibles	46,000
Rightpoint Consulting LLC \| Marketing-related intangible assets
Business Acquisition [Line Items]
Acquired intangibles	$ 29,000

Cash and Cash Equivalents - Schedule of cash and cash equivalents (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cash and Cash Equivalents [Abstract]
Cash and other bank balances	$ 899,458	$ 680,440
Total	$ 899,458	$ 680,440

Accounts receivable, net of allowance for credit losses - Schedule of allowance for credit losses (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounts Receivable [Line Items]
Opening balance	$ 27,707	$ 29,969	$ 23,960
Additions due to acquisitions	0	200	1,004
Additions charged/reversal released to cost and expense, net	910	3,307	7,443
Deductions/effect of exchange rate fluctuations	(4,288)	(9,954)	(2,438)
Closing balance	24,329	27,707	29,969
Cumulative Effect, Period of Adoption, Adjustment
Accounts Receivable [Line Items]
Opening balance	0	4,185	0
Closing balance		0	4,185
Cumulative Effect, Period of Adoption, Adjusted Balance
Accounts Receivable [Line Items]
Opening balance	$ 27,707	34,154	23,960
Closing balance		$ 27,707	$ 34,154

Accounts receivable, net of allowance for credit losses - Narrative (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Gross accounts receivable	$ 912,071	$ 908,727
Allowance for credit losses	24,329	27,707	$ 29,969	$ 23,960
Accounts receivable, after allowance for credit loss, current	$ 887,742	$ 881,020

Fair value measurements - Schedule of fair value of assets and liabilities, including derivative instruments, at fair value on a recurring basis (Detail) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Nov. 12, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	$ 34,070	$ 27,709
Deferred compensation plan assets	38,584	26,832
Total, assets	72,654	54,541
Earn out consideration		8,272	$ 5,406
Derivative instruments, liabilities	15,254	40,981
Deferred compensation plan liability	38,007	26,390
Total, liabilities	58,667	75,643
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	0	0
Deferred compensation plan assets	0	0
Total, assets	0	0
Earn out consideration	0	0
Derivative instruments, liabilities	0	0
Deferred compensation plan liability	0	0
Total, liabilities	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	34,070	27,709
Deferred compensation plan assets	0	0
Total, assets	34,070	27,709
Earn out consideration	0	0
Derivative instruments, liabilities	15,254	40,981
Deferred compensation plan liability	0	0
Total, liabilities	15,254	40,981
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative instruments, assets	0	0
Deferred compensation plan assets	38,584	26,832
Total, assets	38,584	26,832
Earn out consideration	5,406	8,272
Derivative instruments, liabilities	0	0
Deferred compensation plan liability	38,007	26,390
Total, liabilities	$ 43,413	$ 34,662

Fair value measurements - Schedule of roll-forward of fair value of earn-out consideration categorized as level 3 in fair value hierarchy (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Payment of earn-out consideration include in cash flows from operating activities	$ 440	$ 0
Business Acquisition Contingent Consideration
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	8,272	22,184
Payments made on earn-out consideration	(2,556)	(6,552)
Change in fair value of earn out consideration	(750)	(7,790)
Others	440	430
Closing balance	$ 5,406	$ 8,272

Fair value measurements - Schedule of 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, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Opening balance	$ 26,832	$ 11,208
Additions (net of redemption)	7,523	11,460
Change in fair value of deferred compensation plan assets	4,229	4,164
Closing balance	$ 38,584	$ 26,832

Fair value measurements - Schedule 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, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Opening balance	$ 26,390	$ 10,943
Additions (net of redemption)	7,523	11,327
Change in fair value of deferred compensation plan liabilities	4,094	4,120
Closing balance	$ 38,007	$ 26,390

Derivative Financial Instruments - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Mar. 31, 2021
Forward foreign exchange contract \| Maximum
Derivative [Line Items]
Derivatives, term of contract	48 months
Interest rate swaps \| Maximum
Derivative [Line Items]
Derivatives, term of contract	48 months
Treasury rate lock
Derivative [Line Items]
Treasury lock on fair value edges, amount		$ 350
Derivative instrument, gain amortized	$ 692

Derivative Financial Instruments - Schedule of aggregate notional principal amounts of outstanding derivative financial instruments with related balance sheet exposure (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Derivative [Line Items]
Derivative financial instrument, balance sheet exposure asset (liability)	$ 18,816	$ (13,272)
United States Dollars (sell) Indian Rupees (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	1,348,600	1,150,000
Derivative financial instrument, balance sheet exposure asset (liability)	26,247	15,207
United States Dollars (sell) Mexican Peso (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	23,750	17,500
Derivative financial instrument, balance sheet exposure asset (liability)	140	716
United States Dollars (sell) Philippines Peso (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	75,600	67,200
Derivative financial instrument, balance sheet exposure asset (liability)	(2,215)	1,332
Euro (sell) United States Dollars (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	120,994	96,651
Derivative financial instrument, balance sheet exposure asset (liability)	2,634	(5,659)
Singapore Dollars (buy) United States Dollars (sell)
Derivative [Line Items]
Derivative instrument notional principal amount	3,655	10,153
Derivative financial instrument, balance sheet exposure asset (liability)	65	66
Euro (sell) Romanian Leu (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	47,506	29,489
Derivative financial instrument, balance sheet exposure asset (liability)	(233)	(22)
Japanese Yen (sell) Chinese Renminbi (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	10,440	19,230
Derivative financial instrument, balance sheet exposure asset (liability)	202	473
United States Dollars (sell) Chinese Renminbi (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	45,000	0
Derivative financial instrument, balance sheet exposure asset (liability)	120	0
Pound Sterling (sell) United States Dollars (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	49,031	0
Derivative financial instrument, balance sheet exposure asset (liability)	545	0
United States Dollars (sell) Hungarian Font (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	39,000	30,000
Derivative financial instrument, balance sheet exposure asset (liability)	(2,174)	904
Hungarian Font (Sell) Euro (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	2,828	10,444
Derivative financial instrument, balance sheet exposure asset (liability)	(17)	61
Australian Dollars (sell) Indian Rupees (buy)
Derivative [Line Items]
Derivative instrument notional principal amount	97,053	140,525
Derivative financial instrument, balance sheet exposure asset (liability)	1,234	(7,670)
Interest rate swaps (floating to fixed)
Derivative [Line Items]
Derivative instrument notional principal amount	460,135	488,022
Derivative financial instrument, balance sheet exposure asset (liability)	$ (7,732)	$ (18,680)

Derivative Financial Instruments - Schedule of fair value of derivative instruments and their location in the Company's financial statements (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid expenses and other current assets \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Fair value of assets	$ 3,130	$ 5,357
Other assets \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Fair value of assets	0	0
Accrued expenses and other current liabilities \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Fair value of liabilities	1,090	3,785
Other liabilities \| Not designated as hedging instrument
Derivatives, Fair Value [Line Items]
Fair value of liabilities	0	3,923
Cash flow hedges \| Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Fair value of assets	16,064	16,188
Cash flow hedges \| Other assets
Derivatives, Fair Value [Line Items]
Fair value of assets	14,876	6,164
Cash flow hedges \| Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Fair value of liabilities	11,408	16,387
Cash flow hedges \| Other liabilities
Derivatives, Fair Value [Line Items]
Fair value of liabilities	$ 2,756	$ 16,886

Derivative Financial Instruments - Schedule gains (losses) recorded as component of other comprehensive income (loss) in connection with cash flow hedges (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Opening balance, before-tax amount	$ (10,921)	$ (4,126)	$ (2,411)
Net gains (losses) reclassified into statement of income on completion of hedged transactions, before-tax amount	7,628	(6,171)	19,401
Changes in fair value of effective portion of outstanding derivatives, net, before tax amount	36,017	(12,966)	17,686
Gain (loss) on cash flow hedging derivatives, before tax amount	28,389	(6,795)	(1,715)
Closing balance, before-tax amount	17,468	(10,921)	(4,126)
Opening balance, tax (expense) benefit	(1,861)	1,466	5,524
Net gains (losses) reclassified into statement of income on completion of hedged transactions, tax (expense) or benefit	(1,836)	605	(7,212)
Changes in fair value of effective portion of outstanding derivatives, net, tax (expense) or benefit	(7,101)	3,932	(3,154)
Gain (loss) on cash flow hedging derivatives, tax (expense) benefit	(5,265)	3,327	4,058
Closing balance, tax (expense) or benefit	3,404	(1,861)	1,466
Opening balance, net of tax amount	(9,060)	(5,592)	(7,935)
Net gains (losses) reclassified into statement of income on completion of hedged transactions, net of tax amount	5,792	(5,566)	12,189
Changes in fair value of effective portion of outstanding derivatives, net, net of tax amount	28,916	(9,034)	14,532
Gain (loss) on cash flow hedging derivatives, net of tax amount	23,124	(3,468)	2,343
Closing balance, net of tax amount	$ 14,064	$ (9,060)	$ (5,592)

Derivative Financial Instruments - Schedule of gains or losses recognized in other comprehensive income (loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)	$ 36,017	$ (12,966)	$ 17,686
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	7,628	(6,171)	19,401
Amount of Gain (Loss) recognized in Statement of Income on Derivatives	12,116	(4,092)	4,299
Revenue
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	1,354	4,432	6,782
Cost of Revenue
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	11,155	(4,553)	6,435
Selling, general and administrative expenses
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	3,012	(1,266)	1,732
Interest expense
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion)	(7,893)	(4,784)	4,452
Forward foreign exchange contracts
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)	32,270	6,933	24,581
Forward foreign exchange contracts \| Foreign exchange (gains) losses, net \| Not designated as hedging instrument
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) recognized in Statement of Income on Derivatives	12,116	(8,055)	4,299
Forward foreign exchange contracts \| Foreign exchange (gains) losses, net \| Designated as hedging instrument
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) recognized in Statement of Income on Derivatives	0	3,963	0
Interest rate swaps
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)	2,931	(19,899)	(6,895)
Treasury rate lock
Other Comprehensive Income (Loss) [Line Items]
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion)	$ 816	$ 0	$ 0

Prepaid expenses and other current assets - Schedule of prepaid expenses and other current assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets, Current [Abstract]
Advance income and non-income taxes	$ 28,075	$ 73,008
Contract asset (Note 25)	8,506	9,035
Prepaid expenses	38,528	32,375
Derivative instruments	19,194	21,545
Employee advances	2,797	2,636
Deposits	5,839	8,774
Advances to suppliers	804	2,716
Others	30,698	37,319
Prepaid expenses and other current assets, net	$ 134,441	$ 187,408

Property, Plant and Equipment, Net - Schedule of property, plant and equipment, net (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 818,452	$ 792,463
Less: Accumulated depreciation and amortization	(603,363)	(561,341)
Property, plant and equipment, net	215,089	231,122
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	7,292	5,792
Buildings
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	41,282	41,622
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	52,901	52,610
Computer equipment and servers
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	309,551	270,376
Plant, machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	108,527	109,722
Computer software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	138,343	141,417
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	114,747	126,761
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	162	152
Capital work in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 45,647	$ 44,011

Property, Plant and Equipment, Net - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Depreciation	$ 109,124	$ 116,499	$ 96,101
Depreciation expense on property, plant and equipment
Property, Plant and Equipment [Line Items]
Depreciation	62,159	67,662	53,332
Computer software
Property, Plant and Equipment [Line Items]
Depreciation	5,842	9,421	14,167
Effect of reclassification of foreign exchange (gains) losses
Property, Plant and Equipment [Line Items]
Depreciation	$ (430)	$ 213	$ (267)

Goodwill and Intangible Assets - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Line Items]
Goodwill deductible for tax purposes	$ 326,795	$ 296,046
Amortization of acquired intangible assets	58,448	43,343	$ 32,612
Tangible assets write-down	915	14,083	3,511
Internally developed and other intangibles
Goodwill and Intangible Assets Disclosure [Line Items]
Amortization of acquired intangible assets	24,987	27,290	18,957
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	$ (157)	$ 74	$ (76)

Goodwill and Intangible Assets - Changes in goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Opening balance	$ 1,695,688	$ 1,574,466
Goodwill relating to acquisitions consummated during the period	44,216	123,595
Impact of measurement period adjustments	1,205	(5,653)
Effect of exchange rate fluctuations	(10,082)	3,280
Closing balance	$ 1,731,027	$ 1,695,688

Goodwill and Intangible Assets - Schedule of changes in goodwill by reporting unit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Opening balance	$ 1,695,688	$ 1,574,466
Goodwill relating to acquisitions consummated during the period	44,216	123,595
Impact of measurement period adjustments	1,205	(5,653)
Effect of exchange rate fluctuations	(10,082)	3,280
Closing balance	1,731,027	1,695,688
BCMI
Goodwill [Roll Forward]
Opening balance	420,172	417,213
Goodwill relating to acquisitions consummated during the period	4,167	2,559
Impact of measurement period adjustments	35	(542)
Effect of exchange rate fluctuations	(3,117)	942
Closing balance	421,257	420,172
CGRLH
Goodwill [Roll Forward]
Opening balance	607,574	555,130
Goodwill relating to acquisitions consummated during the period	7,032	52,612
Impact of measurement period adjustments	309	(1,372)
Effect of exchange rate fluctuations	(3,795)	1,204
Closing balance	611,120	607,574
HMS
Goodwill [Roll Forward]
Opening balance	667,942	602,123
Goodwill relating to acquisitions consummated during the period	33,017	68,424
Impact of measurement period adjustments	861	(3,739)
Effect of exchange rate fluctuations	(3,170)	1,134
Closing balance	$ 698,650	$ 667,942

Goodwill and Intangible Assets - Schedule of intangible assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 760,616	$ 750,907
Accumulated amortization & Impairment	590,981	514,175
Net	169,635	236,732
Customer-related intangible assets
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	489,974	478,189
Accumulated amortization & Impairment	394,688	359,652
Net	95,286	118,537
Marketing-related intangible assets
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	98,870	96,561
Accumulated amortization & Impairment	76,663	61,154
Net	22,207	35,407
Technology-related intangible assets
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	171,772	152,293
Accumulated amortization & Impairment	119,630	90,866
Net	52,142	61,427
Intangible assets under development
Acquired Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	0	23,864
Accumulated amortization & Impairment	0	2,503
Net	$ 0	$ 21,361

Goodwill and intangible assets - Schedule of impairment charge recorded for various categories of assets (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived	$ 205	$ 6,117	$ 3,511
Impairment of property, plant and equipment	710	7,966	0
Grand Total	915	14,083	3,511
Property, plant and equipment
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of property, plant and equipment	710	7,966	0
Technology-related intangible assets
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived	205	5,179	3,511
Customer-related intangible assets
Acquired Finite-Lived Intangible Assets [Line Items]
Impairment of intangible assets, finite-lived	$ 0	$ 938	$ 0

Goodwill and Intangible Assets - Schedule of estimated amortization for intangible assets for future periods (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2022	$ 63,620
2023	48,718
2024	32,938
2025	19,527
2026 and beyond	4,832
Intangible assets excluding under development assets	$ 169,635

Other Assets - Schedule of other assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Assets, Noncurrent Disclosure [Abstract]
Contract asset	$ 5,235	$ 6,770
Advance income and non-income taxes	124,219	155,035
Deposits	28,463	32,058
Derivative instruments	14,876	6,164
Prepaid expenses	5,979	5,176
Deferred billings, net	44,360	25,357
Right of use (ROU) assets finance lease	34,284	50,083
Others	64,742	43,175
Other assets, net	322,158	323,818
Deferred billings	48,071	28,491
Allowance for credit losses	$ 3,711	$ 3,134

Other Assets - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
Other Assets - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses, other assets	$ 3,711	$ 3,134
Allowance for credit losses current period charge	$ 577	2,400
ASC 326
Accounts, Notes, Loans and Financing Receivable [Line Items]
Transition period adjustment on accounts receivables (through retained earnings) pursuant to ASC 326		$ 734

Leases - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
Leases - Narrative (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Lessee, Lease, Description [Line Items]
Right of use (ROU) assets finance lease	$ 34,284	$ 50,083
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Other assets, net of allowance for credit losses of $3,134 and $3,711 as of December 31, 2020 and 2021, respectively	Other assets, net of allowance for credit losses of $3,134 and $3,711 as of December 31, 2020 and 2021, respectively
Operating lease cost	$ 81,637	$ 88,596	$ 74,436
Operating lease right of use asset impairment charge	0	16,322	0
Operating lease, impairment loss	0	18,084	0
Restructuring charges
Lessee, Lease, Description [Line Items]
Operating lease, impairment loss		8,482
Effect of reclassification of foreign exchange (gains) losses
Lessee, Lease, Description [Line Items]
Operating lease cost	$ (333)	$ 161	$ (105)
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term	10 years

Leases - Schedule of components of lease cost for operating and finance leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finance lease cost:
Amortization of ROU assets	$ 15,549	$ 12,483	$ 9,302
Interest on lease liabilities	2,538	2,454	2,997
Operating lease cost	81,637	88,596	74,436
Short-term lease cost	1,057	1,643	438
Variable lease cost	5,307	5,347	4,052
Total lease cost	$ 106,088	$ 110,523	$ 91,225

Leases - Schedule of other information on leases (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
Weighted-average remaining lease term—finance leases	2 years 4 months 2 days	3 years 1 month 6 days	3 years 10 months 24 days
Weighted-average remaining lease term—operating leases	5 years 9 months 3 days	6 years 5 months 1 day	6 years 9 months 7 days
Weighted-average discount rate—finance leases	5.70%	6.61%	9.20%
Weighted-average discount rate—operating leases	6.98%	7.28%	6.87%
Operating cash flows from finance leases	$ 2,592	$ 2,898	$ 2,859
Operating cash flows from operating leases	80,159	92,010	72,645
Financing cash flows from finance leases	$ 13,926	$ 10,567	$ 7,380

Leases - Schedule of future minimum lease payments under operating and finance lease arrangements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finance lease
2021/2022	$ 20,008	$ 19,584
2022/2023	10,178	17,165
2023/2024	5,105	10,081
2024/2025	2,062	3,876
2025/2026	34	1,000
Thereafter	0	0
Total lease payments	37,387	51,706
Less: Imputed interest	2,541	2,682
Total lease liabilities	34,846	49,024
Operating lease
2021/2022	80,226	78,148
2022/2023	73,374	75,288
2023/2024	62,132	66,790
2024/2025	64,383	56,013
2025/2026	37,131	43,696
Thereafter	66,004	117,580
Total lease payments	383,250	437,515
Less: Imputed interest	73,952	91,673
Total lease liabilities	$ 309,298	$ 345,842

Accrued expenses and other current liabilities - Schedule of accrued expenses and other current liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued Liabilities and Other Liabilities [Abstract]
Accrued expenses	$ 162,054	$ 150,390
Accrued employee cost	307,777	286,399
Earn-out consideration	2,501	2,651
Statutory liabilities	67,948	104,768
Retirement benefits	1,746	1,967
Compensated absences	26,596	28,635
Derivative instruments	12,498	20,172
Contract liabilities	160,602	154,717
Finance lease liability	18,549	18,066
Others	31,169	39,004
Accrued expenses and other current liabilities, net	$ 791,440	$ 806,769
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Accrued expenses and other current liabilities, net	Accrued expenses and other current liabilities, net

Long-term debt - Narrative (Detail) - USD ($)	1 Months Ended	12 Months Ended
Long-term debt - Narrative (Detail) - USD ($)	Aug. 31, 2018	Dec. 31, 2021	Dec. 31, 2020	Mar. 31, 2021	Nov. 30, 2019	Mar. 31, 2017
Debt Instrument [Line Items]
Margin over LIBOR (in percentage)	1.375%	1.375%	1.375%
Debt amount outstanding		$ 1,655,909,000	$ 1,340,908,000
Term loan credit facility
Debt Instrument [Line Items]
Debt amortization expense		687,000	1,150,000
Debt amount outstanding		560,313,000	593,850,000
Principal amount of term loan		8,500,000
Amended 2015 Facility
Debt Instrument [Line Items]
Margin over LIBOR (in percentage)	1.375%
Credit facility, base rate (in percentage)	0.375%
2017 Senior Notes \| Genpact Luxembourg S.r.l.
Debt Instrument [Line Items]
Debt amortization expense		131,000	658,000
Debt amount outstanding		$ 349,869,000	349,342,000
Principal amount of senior notes issued						$ 350,000,000
Interest rate on senior notes (in percentage)		3.70%				3.70%
Total debt issuance cost						$ 2,642,000
2019 Senior Notes \| Genpact Luxembourg S.r.l.
Debt Instrument [Line Items]
Debt amortization expense		$ 1,702,000	2,284,000
Debt amount outstanding		$ 398,298,000	$ 397,716,000
Principal amount of senior notes issued					$ 400,000,000
Interest rate on senior notes (in percentage)		3.375%			3.375%
Total debt issuance cost					$ 2,937,000
Debt instrument redemption price (in percentage)		100.00%
Debt repurchase price as percentage of aggregate principal value upon certain change of controls (in percentage)		101.00%
Maximum increase in downgrade of credit rating of notes to adjust interest rate payable (in percentage)		2.00%
2021 Senior Notes \| Genpact Luxembourg S.r.l.
Debt Instrument [Line Items]
Debt amortization expense		$ 2,571,000
Debt amount outstanding		$ 347,429,000
Principal amount of senior notes issued				$ 350,000,000
Interest rate on senior notes (in percentage)		1.75%		1.75%
Total debt issuance cost				$ 3,032,000

Long-term debt - Schedule of maturity profile of term loan outstanding net of debt amortization expense (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Total	$ 1,655,909	$ 1,340,908
Term loan credit facility
Debt Instrument [Line Items]
2022	33,564
2023	526,749
Total	$ 560,313	$ 593,850

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Long-term debt - Schedule of long term debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020	Nov. 30, 2019	Mar. 31, 2017
Debt Instrument [Line Items]
Total	$ 1,655,909		$ 1,340,908
Current portion	383,433		33,537
Non-current portion	1,272,476		1,307,371
Genpact Luxembourg S.r.l. \| 2017 Senior Notes
Debt Instrument [Line Items]
Total	$ 349,869		349,342
Interest rate on senior notes (in percentage)	3.70%				3.70%
Genpact Luxembourg S.r.l. \| 2019 Senior Notes
Debt Instrument [Line Items]
Total	$ 398,298		397,716
Interest rate on senior notes (in percentage)	3.375%			3.375%
Genpact Luxembourg S.r.l. \| 2021 Senior Notes
Debt Instrument [Line Items]
Total	$ 347,429
Interest rate on senior notes (in percentage)	1.75%	1.75%
Credit facility, net of debt amortization expenses
Debt Instrument [Line Items]
Total	$ 560,313		593,850
2017 Senior Notes
Debt Instrument [Line Items]
Total	349,869		349,342
2019 Senior Notes
Debt Instrument [Line Items]
Total	398,298		397,716
2021 Senior Notes
Debt Instrument [Line Items]
Total	$ 347,429		$ 0

Short-term borrowings - Narrative (Detail) - USD ($)	1 Months Ended	12 Months Ended
Short-term borrowings - Narrative (Detail) - USD ($)	Aug. 31, 2018	Dec. 31, 2021	Dec. 31, 2020	Aug. 09, 2018	Aug. 08, 2018
Line of Credit Facility [Line Items]
Fund-based and non-fund-based credit facilities limits available		$ 24,727,000	$ 14,311,000
Utilization of credit facility for non fund-based usage		$ 5,848,000	$ 7,809,000
Margin over LIBOR (in percentage)	1.375%	1.375%	1.375%
Commitment fee (in percentage)		0.20%	0.20%
Credit facility, amount utilized		$ 2,017,000	$ 252,347,000
Short-term borrowings		$ 0	$ 250,000,000
Revolving credit facility
Line of Credit Facility [Line Items]
Credit facility, maximum borrowing capacity				$ 500,000,000	$ 350,000,000
Fund-based credit facility
Line of Credit Facility [Line Items]
Margin over LIBOR (in percentage)		1.375%	1.375%
Non-fund-based credit facility
Line of Credit Facility [Line Items]
Credit facility, amount utilized		$ 2,017,000	$ 2,347,000

Other Liabilities - Schedule of other liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Accrued employee cost	$ 15,790	$ 19,797
Earn-out consideration	2,905	5,621
Retirement benefits	11,993	11,947
Compensated absences	52,023	47,656
Derivative instruments	2,756	20,809
Contract liabilities (Note 25)	80,222	68,760
Finance lease liability	16,297	30,958
Others	63,224	32,850
Other Liabilities	$ 245,210	$ 238,398
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other Liabilities	Other Liabilities

Employee Benefit Plans - Schedule of funded status of the Company's defined benefit plans and the amounts recognized (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Projected benefit obligation at the beginning of the year	$ 97,660	$ 80,561
Service cost	14,546	11,897	$ 8,915
Actuarial loss (gain)	(10,436)	6,843
Interest cost	5,497	5,297	4,667
Liabilities assumed on acquisition/ transfer of employees	0	180
Benefits paid	(9,162)	(6,388)
Settlements	(4,328)	0
Curtailments	(181)	0
Effect of exchange rate changes	(1,814)	(730)
Projected benefit obligation at the end of the year	91,782	97,660	80,561
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	93,809	70,900
Employer contributions	12,907	24,523
Actual gain on plan assets	4,831	5,370
Benefits paid	(9,162)	(6,287)
Settlements	3,495	0
Effect of exchange rate changes	(1,915)	(697)
Fair value of plan assets at the end of the year	96,975	93,809	$ 70,900
Funded, status, end of year	5,193	(3,851)
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)	18,932	10,063
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)	(1,746)	(1,967)
Non-current liabilities (recorded under other liabilities- retirement benefits)	(11,993)	(11,947)
Funded, status, end of year	5,193	(3,851)
Other current liabilities
Amounts recognized in the consolidated balance sheets
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)	(1,746)	(1,967)
Other noncurrent liabilities
Amounts recognized in the consolidated balance sheets
Non-current liabilities (recorded under other liabilities- retirement benefits)	$ (11,993)	$ (11,947)

Employee Benefit Plans - Schedule of amounts included in accumulated other comprehensive income (loss) (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Net actuarial loss	$ (13,399)	$ (24,669)	$ (21,490)
Net prior service credit/(cost)	(300)	(477)	(717)
Deferred tax assets	3,206	7,065	6,171
Other comprehensive income, net	$ (10,493)	$ (18,081)	$ (16,036)

Employee Benefit Plans - Schedule of changes in other comprehensive income (loss) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Net actuarial loss	$ 9,019	$ (5,891)
Amortization of net actuarial loss	1,379	2,242
Deferred income taxes	(3,859)	894
Net prior service credit/(cost)	170	219
Curtailment	181	0
Settlements	519	0
Effect of exchange rate changes	179	491
Other comprehensive income (loss), net	$ (7,588)	$ 2,045	$ 6,542

Employee Benefit Plans - Schedule of accumulated benefit obligation for defined benefit plans (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Accumulated benefit obligation	$ 12,496	$ 15,441
Fair value of plan assets at the end of the year	3,161	5,446
Projected benefit obligation	18,806	23,090
Fair value of plan assets at the end of the year	$ 5,067	$ 9,176

Employee Benefit Plans - Narrative (Detail) - USD ($) $ in Thousands		12 Months Ended
	Jul. 01, 2018	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Net projected benefit obligation and plan assets for underfunded (including unfunded) defined benefit obligation plans		$ 13,739	$ 13,914
Expected contributions in fiscal 2022		9,733
Deferred compensation plan liability		38,007	26,390
Cash surrender value of policies		38,584	26,832
Change in fair value of plan assets		4,229	4,164	$ 1,296
Change in fair value of deferred compensation liabilities		$ 4,094	$ 4,120	$ 1,062
U.S.
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Participant deferrals vesting ( in percentage)	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 (in 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 (in percentage)	50.00%
Minimum \| U.S.
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Individual qualifying base compensation (in percentage)	1.00%
Individual qualifying bonus compensation (in percentage)	1.00%
Maximum \| U.S.
Deferred Compensation Arrangement with Individual, Excluding Share-based Payments and Postretirement Benefits [Line Items]
Individual qualifying base compensation (in percentage)	80.00%
Individual qualifying bonus compensation (in 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 - Schedule of net defined benefit plan costs (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Retirement Benefits [Abstract]
Service costs	$ 14,546	$ 11,897	$ 8,915
Interest costs	5,497	5,297	4,667
Amortization of actuarial loss	1,549	2,461	1,384
Expected return on plan assets	(6,239)	(4,589)	(2,605)
One-time cost	0	0	202
Settlements	519	0	0
Net defined benefit plan costs	$ 15,872	$ 15,066	$ 12,563

Employee Benefit Plans - Schedule of weighted average assumptions used to determine benefit obligations, Gratuity Plan (Detail) - Benefit obligations of Gratuity Plan	Dec. 31, 2021	Dec. 31, 2020
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	5.25%	4.45%
Rate of increase in compensation per annum (in percentage)	4.60%	5.20%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	6.45%	5.90%
Rate of increase in compensation per annum (in percentage)	8.00%	9.00%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine plan costs, Gratuity Plan (Detail) - Gratuity Plan costs	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Expected long term rate of return on plan assets per annum (in percentage)		7.50%	7.50%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	4.45%	6.80%	8.30%
Rate of increase in compensation per annum (in percentage)	5.20%	5.20%	5.20%
Expected long term rate of return on plan assets per annum (in percentage)	7.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	5.90%	7.35%	8.40%
Rate of increase in compensation per annum (in percentage)	9.00%	11.50%	11.00%
Expected long term rate of return on plan assets per annum (in percentage)	7.50%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine benefit obligations, Mexican Plan (Detail) - Benefit obligations of Mexican Plan	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	8.20%	7.20%
Rate of increase in compensation per annum (in percentage)	5.50%	5.50%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine plan costs, Mexican Plan (Detail) - Mexican Plan costs	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	7.20%	7.60%	9.40%
Rate of increase in compensation per annum (in percentage)	5.50%	5.50%	5.50%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine benefit obligations, Philippines Plan (Detail) - Benefit obligations of Philippines Plan	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	7.67%	5.26%
Rate of increase in compensation per annum (in percentage)		5.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation per annum (in percentage)	3.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation per annum (in percentage)	6.00%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine plan costs, Philippines Plan (Detail) - Philippines Plan costs	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	5.26%	5.22%	7.53%
Rate of increase in compensation per annum (in percentage)	5.00%	6.00%	6.00%
Expected long term rate of return on plan assets per annum (in percentage)	2.00%	2.40%	1.00%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine benefit obligations, Japan Plan (Detail) - Benefit obligations of Japan Plan	Dec. 31, 2021	Dec. 31, 2020
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation per annum (in percentage)	0.00%	0.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	0.14%	0.17%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	0.81%	0.41%

Employee Benefit Plans - Schedule of weighted average assumptions used to determine plan costs, Japan Plan (Detail) - Japan Plan costs	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Rate of increase in compensation per annum (in percentage)	0.00%
Minimum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	0.17%	0.094%	0.076%
Rate of increase in compensation per annum (in percentage)		0.00%	0.00%
Expected long term rate of return on plan assets per annum (in percentage)	1.77%	0.00%	0.00%
Maximum
Defined Benefit Plan Disclosure [Line Items]
Discount rate (in percentage)	0.41%	0.271%	0.269%
Expected long term rate of return on plan assets per annum (in percentage)	3.12%	1.77%	1.77%

Employee Benefit Plans - Schedule of fair values of plan assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	$ 96,975	$ 93,809	$ 70,900
Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	14,059	21,707
Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	82,916	72,102
Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	0	0
Cash
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	14,059	21,707
Cash \| Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	14,059	21,707
Cash \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	0	0
Cash \| Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	0	0
Fixed Income Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	$ 80,612	63,444
Investment in funds (in percentage)	100.00%
Fixed Income Securities \| Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	$ 0	0
Fixed Income Securities \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	80,612	63,444
Fixed Income Securities \| Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	0	0
Other Securities
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	2,304	8,658
Other Securities \| Fair Value, Inputs, Level 1
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	0	0
Other Securities \| Fair Value, Inputs, Level 2
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	2,304	8,658
Other Securities \| Fair Value, Inputs, Level 3
Defined Benefit Plan Disclosure [Line Items]
Plan assets, fair value	$ 0	$ 0

- Definition

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 - Schedule of expected benefit plan payments (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Retirement Benefits [Abstract]
2022	$ 12,938
2023	13,353
2024	14,310
2025	15,182
2026	16,250
2027 - 2031	83,964
Defined benefit plan expected future benefit payments	$ 155,997

Employee Benefit Plans - Schedule of amounts contributed to defined contribution plans in various jurisdictions (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	$ 119,382	$ 96,447	$ 95,744
India
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	37,508	30,396	29,729
U.S.
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	21,496	19,491	19,401
U.K.
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	19,874	18,643	19,260
China
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	24,988	16,436	18,816
Other Regions
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plans, contributed amount	$ 15,516	$ 11,481	$ 8,538

Stock-based compensation - Narrative (Detail) - USD ($)														12 Months Ended
Stock-based compensation - Narrative (Detail) - USD ($)	Dec. 22, 2021	Sep. 24, 2021	Jun. 23, 2021	Mar. 19, 2021	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. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	May 09, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation cost														$ 80,548,000	$ 72,709,000	$ 82,802,000
Tax benefits recognized in relation to stock-based compensation														$ 21,857,000	$ 21,832,000	18,921,000
Options granted, contractual period, years														10 years
Dividends paid per share (in usd per share)	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.0975	$ 0.085	$ 0.085	$ 0.085		$ 0.085	$ 0.1075	$ 0.0975
Cash received from the exercise of stock option														$ 23,168,000	$ 14,062,000	10,690,000
Tax benefits from the exercise of stock option														6,927,000	7,381,000	2,966,000
Unrecognized stock-based compensation cost for options														$ 24,199,000
Restricted Stock Unit vesting right (in shares)														1
Restricted Stock Unit vesting right, fair value (in shares)														1
Performance Units vesting right (in shares)														1
Performance Units vesting right, fair value (in shares)														1
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Excess tax benefit on stock-based compensation														$ 4,191,000	$ 7,310,000	$ 2,743,000
Weighted average remaining requisite vesting period														3 years 2 months 12 days
Restricted Share Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining requisite vesting period														2 years 3 months 18 days
Unrecognized stock-based compensation cost														$ 18,045,000
Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average remaining requisite vesting period																1 year 9 months 18 days
Unrecognized stock-based compensation cost																$ 58,752,000
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%
Maximum dollar amount of common shares allowed to be purchased														$ 25,000
Common shares reserved for issuance														4,200,000
Issuance of common shares under the employee stock purchase plan (Note 18) (in shares)														285,657	315,245	264,440
Compensation expense for ESPP														$ 1,420,000	$ 1,299,000	$ 1,083,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award, vesting period, years														3 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
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 - Schedule of significant assumptions used in determining fair value of options granted (Detail)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (in percentage)		0.89%
Expected life (in months)	84 months	84 months	84 months
Risk-free rate of interest for expected life, minimum (in percentage)	1.12%		1.56%
Risk-free rate of interest for expected life, maximum (in percentage)	1.37%		2.63%
Risk-free rate of interest for expected life (in percentage)		1.50%
Volatility, minimum (in percentage)	26.05%		21.00%
Volatility, maximum (in percentage)	26.18%		21.38%
Volatility (in percentage)		20.96%
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (in percentage)	0.84%		0.82%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield (in percentage)	1.08%		1.08%

Stock-based compensation - Schedule of stock option activity (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Shares arising out of options
Outstanding, shares arising out of options, beginning balance	7,347,241	8,360,212	7,261,675
Granted, shares arising out of options	1,831,180	431,924	1,881,068
Forfeited, shares arising out of options	(25,000)	(752,261)	(85,000)
Expired, shares arising out of options	0	0	0
Exercised, shares arising out of options	(1,145,125)	(692,634)	(697,531)
Outstanding, shares arising out of options, ending balance	8,008,296	7,347,241	8,360,212	7,261,675
Vested and expected to vest thereafter, shares arising out of options	7,422,919	7,132,162	8,006,985
Vested and exercisable, shares arising out of options	3,117,333	2,713,405	3,111,039
Weighted average grant-date fair value of options granted during the period	$ 11.35	$ 9.72	$ 6.98
Weighted average exercise price
Outstanding weighted average exercise price, beginning balance	26.41	25.33	23.61
Granted, weighted average exercise price	43.98	43.94	28.50
Forfeited, weighted average exercise price	31.50	30.09	29.91
Expired, weighted average exercise price	0	0	0
Exercised, weighted average exercise price	20.23	20.30	15.33
Outstanding weighted average exercise price, ending balance	31.30	26.41	25.33	$ 23.61
Vested and expected to vest thereafter, weighted average exercise price	30.51	26.26	25.18
Vested and exercisable, weighted average exercise price	$ 24.17	$ 19.40	$ 19.16
Weighted average remaining contractual life (years)
Outstanding weighted average remaining contractual life (years)	6 years 1 month 6 days	5 years 8 months 12 days	6 years 6 months	6 years 4 months 24 days
Vested and expected to vest thereafter, weighted average remaining contractual life (years)	6 years 1 month 6 days	5 years 8 months 12 days	6 years 6 months
Vested and exercisable, weighted average remaining contractual life (years)	3 years 4 months 24 days	2 years 7 months 6 days	3 years 4 months 24 days
Aggregate intrinsic value
Exercised, aggregate intrinsic value	$ 30,463	$ 11,813	$ 18,724
Outstanding aggregate intrinsic value	174,428	110,925	140,760
Vested and expected to vest thereafter, aggregate intrinsic value	167,551	108,671	136,017
Vested and exercisable, aggregate intrinsic value	$ 90,117	$ 59,593	$ 71,584

Stock-based compensation - Schedule of RSU activity (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Grant Date Fair Value
Outstanding weighted average grant date fair value, beginning balance	$ 34.56
Outstanding weighted average grant date fair value, ending balance		$ 34.56
Restricted Share Units (RSUs)
Number of Restricted Share Units
Outstanding number of shares (Units), beginning balance	860,308	1,261,706	1,528,999
Granted, number of shares (Units)	466,702	296,332	470,939
Vested, number of shares (Units)	(501,273)	(640,212)	(672,025)
Forfeited, number of shares (Units)	(66,230)	(57,518)	(66,207)
Outstanding number of shares (Units), ending balance	759,507	860,308	1,261,706
Expected to vest, number of shares (Units)	654,594	762,877	1,149,286
Weighted Average Grant Date Fair Value
Outstanding weighted average grant date fair value, beginning balance	$ 36.44	$ 31.41	$ 27.45
Granted, weighted average grant date fair value	44.00	40.40	37.58
Vested, weighted average grant date fair value	34.41	28.28	26.84
Forfeited, weighted average grant date fair value	38.02	37.35	30.43
Outstanding weighted average grant date fair value, ending balance	$ 42.29	$ 36.44	$ 31.41
Net settlement on vesting of restricted share units (Note 18) (in shares)	300,944	385,197	521,707
Restricted Share Units (RSUs) \| Vested in 2019, excluding directors
Number of Restricted Share Units
Vested, number of shares (Units)			(637,933)
Restricted Share Units (RSUs) \| Vested in 2019, directors
Number of Restricted Share Units
Vested, number of shares (Units)	(34,092)
Restricted Share Units (RSUs) \| Vested in 2020, excluding directors
Number of Restricted Share Units
Vested, number of shares (Units)		(590,699)
Restricted Share Units (RSUs) \| Vesting in 2020, directors
Number of Restricted Share Units
Vested, number of shares (Units)	(49,513)
Restricted Share Units (RSUs) \| Vested in 2021, excluding directors
Number of Restricted Share Units
Vested, number of shares (Units)	(461,640)
Restricted Share Units (RSUs) \| Vesting in 2021, directors
Number of Restricted Share Units
Vested, number of shares (Units)	(39,633)

Stock-based compensation - Schedule of PU activity (Detail)	12 Months Ended
	Dec. 31, 2021 $ / shares shares	Dec. 31, 2020 $ / shares shares	Dec. 31, 2019 $ / shares shares
Weighted Average Grant Date Fair Value
Outstanding weighted average grant date fair value, beginning balance \| $ / shares	$ 34.56
Outstanding weighted average grant date fair value, ending balance \| $ / shares		$ 34.56
Maximum shares eligible to receive
Outstanding maximum shares eligible to receive, beginning balance	4,876,196	6,058,464
Outstanding maximum shares eligible to receive, ending balance		4,876,196	6,058,464
Performance Units
Number of Performance Units
Outstanding number of shares (Units), beginning balance	4,876,196	6,058,464	3,712,402
Granted, number of shares (Units)	1,340,877	1,253,766	1,579,109
Vested, number of shares (Units)	(1,784,140)	(1,496,377)	(3,276)
Forfeited, number of shares (Units)	(258,258)	(539,670)	(248,031)
Adjustment upon final determination of level of performance goal achievement	408,480	(399,987)	1,018,260
Outstanding number of shares (Units), ending balance	4,583,155	4,876,196	6,058,464
Expected to vest, number of shares (Units)	4,263,803	4,573,356	5,507,640
Weighted Average Grant Date Fair Value
Outstanding weighted average grant date fair value, beginning balance \| $ / shares	$ 34.56	$ 31.07	$ 28.40
Granted, weighted average grant date fair value \| $ / shares	44.06	42.49	34.68
Vested, weighted average grant date fair value \| $ / shares	30.66	25.21	27.47
Forfeited, weighted average grant date fair value \| $ / shares	39.97	33.77	29.04
Adjustment upon final determination of level of performance goal achievement \| $ / shares	43.99	42.60	34.72
Outstanding weighted average grant date fair value, ending balance \| $ / shares	$ 39.40	$ 34.56	$ 31.07
Maximum shares eligible to receive
Outstanding maximum shares eligible to receive, beginning balance	4,876,196	6,058,464	3,712,402
Granted, maximum shares eligible to receive	2,681,754	2,507,532	3,158,218
Vested, maximum shares eligible to receive	(1,784,140)	(1,496,377)	(3,276)
Forfeited, maximum shares eligible to receive	(320,098)	(560,867)	(278,755)
Adjustment upon final determination of level of performance goal achievement	(870,557)	(1,632,556)	(530,125)
Outstanding maximum shares eligible to receive, ending balance	4,583,155	4,876,196	6,058,464
Net settlement on vesting of performance units (Note 18) (in shares)	1,102,440	902,532	2,151
Increase due to achievement of higher-than-target performance (in percentage)	31.20%		66.67%
Decrease due to achievement of lower-than-target performance (in percentage)		0.3298

Capital Stock - Narrative (Detail) $ / shares in Units, $ in Thousands																	12 Months Ended
	Dec. 22, 2021 USD ($) $ / shares	Sep. 24, 2021 USD ($) $ / shares	Jun. 23, 2021 USD ($) $ / shares	Mar. 19, 2021 USD ($) $ / shares	Feb. 09, 2021 $ / shares	Dec. 23, 2020 USD ($) $ / shares	Sep. 23, 2020 USD ($) $ / shares	Jun. 26, 2020 USD ($) $ / shares	Mar. 18, 2020 USD ($) $ / shares	Feb. 06, 2020 $ / shares	Dec. 18, 2019 USD ($) $ / shares	Sep. 20, 2019 USD ($) $ / shares	Jun. 21, 2019 USD ($) $ / shares	Mar. 20, 2019 USD ($) $ / shares	Feb. 07, 2019 $ / shares	Feb. 12, 2018 $ / shares	Dec. 31, 2021 USD ($) votes $ / shares shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2018 $ / shares	Sep. 30, 2021 USD ($)
Class of Stock [Line Items]
Common shares, authorized (in shares) \| shares																	500,000,000	500,000,000
Common shares, par value (in usd per share) \| $ / shares																	$ 0.01	$ 0.01
Preferred shares, authorized (in shares) \| shares																	250,000,000	250,000,000
Preferred shares, par value (in usd per share) \| $ / shares																	$ 0.01	$ 0.01
Common shares, issued (in shares) \| shares																	185,336,357	189,045,661
Common shares, outstanding (in shares) \| shares																	185,336,357	189,045,661
Preferred shares, outstanding (in shares) \| shares																	0	0
Preferred shares, issued (in shares) \| shares																	0	0
Common stock, number of votes per share \| votes																	1
Stock repurchase authorized amount \| $																					$ 1,750,000
Shares repurchased and retired (in shares) \| shares																	6,577,562	3,412,293	766,154
Common stock shares repurchased price per share \| $ / shares																	$ 45.32	$ 40.16	$ 39.16
Aggregate amount of common stock shares repurchased \| $																	$ 298,219	$ 137,112	$ 30,015
Expenses related to stock purchases \| $																	132	$ 68	$ 15
Stock repurchase program remained available for share \| $																	$ 338,911
Increase in quarterly cash dividend (in percentage)					10.00%					15.00%					13.00%
Dividends per common share (in usd per share) \| $ / shares					$ 0.1075					$ 0.0975					$ 0.085	$ 0.075	$ 0.43	$ 0.39	$ 0.34
Annual dividend per common share (in usd per share) \| $ / shares										$ 0.39					$ 0.34			0.39	$ 0.34
Planned annual dividend (in usd per share) \| $ / shares					$ 0.43												0.43			$ 0.30
Dividends paid per share (in usd per share) \| $ / shares	$ 0.1075	$ 0.1075	$ 0.1075	$ 0.1075		$ 0.0975	$ 0.0975	$ 0.0975	$ 0.0975		$ 0.085	$ 0.085	$ 0.085	$ 0.085			$ 0.1075	$ 0.0975
Initial dividend paid \| $	$ 20,018	$ 20,213	$ 20,133	$ 20,115		$ 18,437	$ 18,637	$ 18,595	$ 18,543		$ 16,156	$ 16,208	$ 16,188	$ 16,119
Share repurchase open market
Class of Stock [Line Items]
Aggregate amount of common stock shares repurchased \| $																	$ 298,087	$ 137,044	$ 30,000

Earnings Per Share - Narrative (Detail) - shares	12 Months Ended
Earnings Per Share - Narrative (Detail) - shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share [Abstract]
Number of stock awards outstanding but not included in the computation of diluted earnings per common share	1,663,219	1,182,572	1,809,069

Earnings Per Share - Schedule of earnings per share (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Earnings Per Share (Abstract)
Net income	$ 369,448	$ 308,276	$ 304,881
Weighted average number of common shares used in computing basic earnings per common share (in shares)	187,802,219	190,396,780	190,074,475
Dilutive effect of stock-based awards	5,159,622	5,384,191	5,086,380
Weighted average number of common shares used in computing dilutive earnings per common share	192,961,841	195,780,971	195,160,855
Earnings per common share, basic (in usd per share)	$ 1.97	$ 1.62	$ 1.60
Earnings per common share, diluted (in usd per share)	$ 1.91	$ 1.57	$ 1.56

- Definition

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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-Subparagraph (b)
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-Name Accounting Standards Codification
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-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

+ Details

Other operating (income) expense, net - Schedule of other operating (income) expense, net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income and Expenses [Abstract]
Write-down of intangible assets and property, plant and equipment	$ 915	$ 14,083	$ 3,511
Write-down of operating lease right-of-use assets and other assets	0	18,084	0
Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions)	(750)	(7,790)	0
Other operating (income) expense	(1,368)	(5,046)	(34,545)
Other operating (income) expense, net	(1,203)	19,331	(31,034)
Write-down of restructuring charges	0	10,244	0
Gain on land rights transferred	$ 0	$ 0	$ 31,380

Interest income (expense), net - Schedule of interest income (expense), net (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Income and Expenses [Abstract]
Interest income		$ 6,878	$ 7,284	$ 7,321
Interest expense		(58,312)	(56,244)	(50,779)
Interest income (expense), net	$ (51,434)	$ (51,434)	$ (48,960)	$ (43,458)

Income taxes - Schedule of income tax expense (benefit) (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Line Items]
Income tax expense	$ 113,681	$ 92,201	$ 94,536
Other comprehensive income:
Unrealized gains (losses) on cash flow hedges	5,265	(3,327)	(4,058)
Retirement benefits	3,859	(894)	(2,720)
Retained earnings:
Deferred tax benefit recognized on adoption of ASU 2016-13	$ (9,263)	(22,587)	$ (16,315)
ASC 326
Retained earnings:
Deferred tax benefit recognized on adoption of ASU 2016-13		$ (935)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income taxes - Schedule of components of income before income tax expense from continuing operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Domestic (U.S.)	$ 126,107	$ 122,497	$ 27,783
Foreign (other than U.S.)	357,022	277,980	371,634
Income before income tax expense	$ 483,129	$ 400,477	$ 399,417

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Income taxes - Schedule of income tax expense (benefit) attributable to income from continuing operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current tax expense :
Domestic (U.S. federal)	$ 34,538	$ 23,668	$ 2,854
Domestic (U.S. state)	5,605	10,765	3,908
Foreign (other than U.S.)	82,801	80,355	104,089
Current Income Tax Expense (Benefit), Total	122,944	114,788	110,851
Deferred tax expense (benefit) :
Domestic (U.S. federal)	(6,039)	(7,329)	2,669
Domestic (U.S. state)	232	(3,770)	(1,679)
Foreign (other than U.S.)	(3,456)	(11,488)	(17,305)
Deferred Income Tax Expense (Benefit), Total	(9,263)	(22,587)	(16,315)
Total income tax expense (benefit)	$ 113,681	$ 92,201	$ 94,536

Income taxes - Schedule of income tax expense (benefit) computed by applying the U.S. federal statutory income tax rate to income before income taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Income before income tax expense	$ 483,129	$ 400,477	$ 399,417
Statutory tax rates (in percentage)	21.00%	21.00%	21.00%
Computed expected income tax expense	$ 101,457	$ 84,100	$ 83,878
Increase (decrease) in income taxes resulting from:
Foreign tax rate differential	10,747	15,456	31,121
Tax benefit from tax holiday	(3,159)	(16,063)	(21,393)
True-up of prior years tax liability	7,590	(3,420)	(3,568)
Interest income on income tax refund	(7,780)	0	0
Non-deductible expenses	1,755	372	2,152
Effect of change in tax rates	1,740	453	6,497
Change in valuation allowance	6,244	142,733	10,515
Unrecognized tax benefits	(327)	3,228	5,502
Employment related tax incentive	(3,930)	0	(5,239)
Internal restructuring	0	(129,688)	0
State income taxes	5,837	6,995	2,229
Excess tax benefit on share-based compensation	(7,773)	(7,310)	(2,743)
Others	1,280	(4,655)	(14,415)
Total income tax expense (benefit)	$ 113,681	92,201	94,536
Reversal of deferred tax liabilities due to transfer/closure of certain affiliated entities			3,782
Impairment of deferred tax asset		$ 8,384	$ 8,069

Income taxes - Narrative (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Line Items]
Internal restructuring, consideration transferred for marketing intangibles		$ 650,000
Net excess tax benefits on share-based compensation	$ 7,773	7,310	$ 2,743
Net operating loss carryforwards	145,525
Deferred tax assets related to net operating loss carryforwards, excluding state	34,459
Net operating loss of subsidiary, carried forward	47,025
Additional deferred tax assets for U.S. state and local tax loss carry-forwards	3,134
Undistributed earnings held by foreign subsidiaries for which no deferred tax liability would accrue on repatriation of retained earnings indefinitely reinvested	622,521
Cash and cash equivalents held by foreign (non-Bermuda) subsidiaries	875,924
Cash and cash equivalents	899,458	680,440
Cash held by foreign subsidiary	3,481
Cash and cash equivalents held by foreign (non-Bermuda) subsidiaries for which no tax will accrue on repatriation of retained earnings indefinitely reinvested	872,443
Deferred tax assets	102,380	105,158
Unrecognized tax benefits that would impact effective tax rate	25,651	34,300
Unrecognized tax benefits, interest on income taxes accrued	2,842	6,369
Unrecognized tax benefits, including exchange rate differences for interest recognized	628	900
Accrued penalties	$ (13,851)	$ 662	826
ASC 326
Income Tax Disclosure [Line Items]
Deferred tax assets			$ 935
Tax Holiday For First 5 Years
Income Tax Disclosure [Line Items]
Tax holiday in respect to export profits (in percentage)	100.00%
Tax holiday, period, in years	5 years
Tax Holiday from year 6 to year 10
Income Tax Disclosure [Line Items]
Tax holiday in respect to export profits (in percentage)	50.00%
Tax holiday, period, in years	5 years
Tax Holiday from year 11 to year 15
Income Tax Disclosure [Line Items]
Tax holiday in respect to export profits (in percentage)	50.00%
Tax holiday, period, in years	5 years
Basic and diluted earnings per share
Income Tax Disclosure [Line Items]
Earnings per share effect of tax holiday (in usd per share)	$ 0.02	$ 0.08	$ 0.11
Retained Earnings
Income Tax Disclosure [Line Items]
Repatriation of retained earnings	$ 9,628

Income taxes - Schedule of components of deferred tax balances (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets
Net operating loss carryforwards	$ 37,593	$ 37,278
Accrued expenses and other liabilities	70,802	70,634
Provision for doubtful debts	9,000	9,930
Property, plant & equipment, net	4,079	3,387
Lease liabilities	50,091	59,823
Share-based compensation	31,147	35,424
Intangible assets, net	168,737	165,347
Retirement benefits	9,721	14,761
Contract liabilities	8,012	6,080
Tax credit carryforwards	15,724	8,692
Other	10,277	14,619
Gross deferred tax assets	415,183	425,975
Less: Valuation allowance	(212,192)	(206,011)	$ (62,628)	$ (51,986)
Total deferred tax assets	202,991	219,964
Deferred tax liabilities
Intangible assets, net	6,598	21,884
Property, plant and equipment, net	1,907	3,700
Right-of use lease assets	40,733	48,816
Earn-out liabilities	5,368	6,189
Retirement benefits	3,404	6,579
Investments in foreign subsidiaries not indefinitely reinvested	1,708	2,726
Derivative instruments	6,153	2,810
Goodwill	29,229	18,649
Other	5,511	3,453
Total deferred tax liabilities	100,611	114,806
Net deferred tax asset	102,380	105,158
Deferred tax assets	106,322	106,674
Deferred tax liabilities	$ 3,942	$ 1,516

Income taxes - Schedule of change in total valuation allowance for deferred tax assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Opening valuation allowance	$ 206,011	$ 62,628	$ 51,986
Reduction during the year	(1,206)	(35,662)	(4,240)
Addition during the year	7,387	179,045	14,882
Closing valuation allowance	$ 212,192	$ 206,011	$ 62,628

Income taxes - Schedule of remaining tax loss carry-forwards expiration (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Europe
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	$ 92,295
Europe \| 2022
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	57
Europe \| 2023
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	310
Europe \| 2024
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	567
Europe \| 2025
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	1,772
Europe \| 2026
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	38
Europe \| 2028
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
Europe \| 2034
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	18,820
Europe \| 2029
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
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	63,374
Europe \| 2041
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
Others
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	6,205
Others \| 2022
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
Others \| 2023
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	1,039
Others \| 2024
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	2,225
Others \| 2025
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	2
Others \| 2026
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	19
Others \| 2028
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	94
Others \| 2034
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
Others \| 2029
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	185
Others \| 2035
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
Others \| 2036
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	0
Others \| 2041
Operating Loss Carryforwards [Line Items]
Tax loss carry forwards subject to expiration	$ 2,641

Income taxes - Schedule of foreign tax credit carry-forward expiry period (Detail) - Foreign tax authority $ in Thousands	Dec. 31, 2021 USD ($)
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	$ 15,724
2028
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	6,378
2029
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	2,554
2030
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	2,665
2031
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	3,803
2035
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	121
2041
Tax Credit Carryforward [Line Items]
Foreign tax credit carryforward amount	$ 203

Income taxes - Schedule of activities related to unrecognized tax benefits (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Uncertainties [Abstract]
Beginning balance	$ 34,300	$ 31,029
Increase related to prior year tax positions, including recorded in acquisition accounting	2,992	2,875
Decrease related to prior year tax positions	(455)	(1,309)
Decrease related to prior year tax position due to lapse of applicable statute of limitation	(455)	(287)
Increase related to current year tax positions, including recorded in acquisition accounting	1,385	2,454
Decrease related to settlements with taxing authorities	(11,170)	(317)
Effect of exchange rate changes	(946)	(145)
Ending balance	$ 25,651	$ 34,300

Segment Reporting - Schedule of revenue and adjusted income from operations by reporting segments (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net revenues		$ 4,022,211	$ 3,709,377	$ 3,520,543
Adjusted income from operations		662,680	588,808	558,841
Stock-based compensation		(81,968)	(74,008)	(83,885)
Amortization and impairment of acquired intangible assets (other than included above)		(57,641)	(43,648)	(31,458)
Acquisition-related expenses		(1,177)	(2,650)	(8,352)
Foreign exchange gains (losses), net		12,669	7,482	7,729
Interest income (expense), net	$ (51,434)	(51,434)	(48,960)	(43,458)
Restructuring expenses			(26,547)
Income tax expense		(113,681)	(92,201)	(94,536)
Net income attributable to Genpact Limited shareholders		369,448	308,276	304,881
BCMI
Segment Reporting Information [Line Items]
Accelerated charge of contract cost asset				10,524
Adjusted income from operations net of accelerated charge of contract cost asset				105,474
Reportable segments
Segment Reporting Information [Line Items]
Net revenues		4,005,473	3,732,673	3,535,013
Adjusted income from operations		650,491	574,302	515,642
Reportable segments \| BCMI
Segment Reporting Information [Line Items]
Net revenues		1,016,786	1,079,193	1,078,844
Adjusted income from operations		126,972	132,939	115,998
Reportable segments \| CGRLH
Segment Reporting Information [Line Items]
Net revenues		1,509,534	1,264,654	1,107,534
Adjusted income from operations		250,765	197,197	161,515
Reportable segments \| HMS
Segment Reporting Information [Line Items]
Net revenues		1,479,153	1,388,826	1,348,635
Adjusted income from operations		272,754	244,166	238,129
Others
Segment Reporting Information [Line Items]
Net revenues		16,738	(23,296)	(14,470)
Adjusted income from operations		$ 12,189	$ 14,506	43,199
Adjusted income from operations before accelerated charge of contract cost asset				$ 53,723

Segment Reporting - Narrative (Detail)	12 Months Ended
Segment Reporting - Narrative (Detail)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
HMS
Segment Reporting Disclosure [Line Items]
Total net revenues (as percentage)	9.40%	12.00%	14.00%

Segment Reporting - Schedule of net revenues from geographic areas based on location of service delivery centers (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total net revenues	$ 4,022,211	$ 3,709,377	$ 3,520,543
India
Segment Reporting Information [Line Items]
Total net revenues	2,022,123	1,851,347	1,890,897
Asia, other than India
Segment Reporting Information [Line Items]
Total net revenues	536,595	461,839	356,726
North and Latin America
Segment Reporting Information [Line Items]
Total net revenues	1,011,759	1,007,635	863,748
Europe
Segment Reporting Information [Line Items]
Total net revenues	$ 451,734	$ 388,556	$ 409,172

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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+ Details

Segment Reporting - Schedule of property, plant and equipment, net by geographic areas (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 215,089	$ 231,122
India
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	142,237	157,129
Asia, other than India
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	16,315	16,790
North and Latin America
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	36,973	44,934
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Property, plant and equipment, net	$ 19,564	$ 12,269

Net revenues - Schedule of net revenues disaggregated by customer (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Total net revenues	$ 4,022,211	$ 3,709,377	$ 3,520,543
Global Clients
Segment Reporting Information [Line Items]
Total net revenues	3,646,007	3,250,527	3,042,452
GE
Segment Reporting Information [Line Items]
Total net revenues	$ 376,204	$ 458,850	$ 478,091

- Definition

+ References

+ Details

Net revenues - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
Net revenues - Narrative (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Billing cycle period	30 days
Contract liabilities balance	$ 141,774	$ 102,893

Net revenues - Schedule of details of Company's contract liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Revenues [Abstract]
Contract assets	$ 13,741	$ 15,805
Contract liabilities
Deferred transition revenue	155,077	130,804
Advance from customers	$ 85,747	$ 92,673

Net revenues - Schedule of estimated revenue expected to be recognized in the future related to remaining performance obligation (Detail) $ in Thousands	Dec. 31, 2021 USD ($)
Revenue, Performance Obligation [Abstract]
Revenue, Remaining Performance Obligation	$ 240,824
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Performance Obligation [Abstract]
Revenue, Remaining Performance Obligation	$ 160,606
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Performance Obligation [Abstract]
Revenue, Remaining Performance Obligation	$ 64,184
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Performance Obligation [Abstract]
Revenue, Remaining Performance Obligation	$ 13,924
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period	2 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
Revenue, Performance Obligation [Abstract]
Revenue, Remaining Performance Obligation	$ 2,110
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period

Net revenues - Schedule of contract cost assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Opening balance	$ 225,897
Closing balance	238,794	$ 225,897
Sales incentive programs
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Opening balance	33,390	35,366
Closing balance	32,296	33,390
Amortization	22,227	19,960
Transition activities
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Opening balance	192,507	170,132
Closing balance	206,498	192,507
Amortization	$ 79,779	$ 68,770

Other income (expense), net - Schedule of other Income (expense), net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Other Nonoperating Income (Expense) [Abstract]
Government incentives	$ 0	$ 0	$ 3,976
Other income/(expense)	12,895	3,238	1,810
Other Income (expense), net	$ 12,895	$ 3,238	$ 5,786

Commitments and Contingencies - Narrative (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2016	Jun. 30, 2020
Commitments And Contingencies [Line Items]
Bank guarantees and letter of credits, outstanding	$ 7,865	$ 10,156
Income tax examination, assessed tax, affiliate			$ 110,142
Affiliated Entity
Commitments And Contingencies [Line Items]
Refunds challenged by taxing authority, amount				$ 25,069
Capital addition purchase commitments
Commitments And Contingencies [Line Items]
Commitments and contingencies	$ 13,317	$ 5,128

Restructuring - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended	12 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 26,547
Severance charge			$ 15,395
Property, plant and equipment
Restructuring Cost and Reserve [Line Items]
Restructuring charges				908
Non-cash charge
Restructuring Cost and Reserve [Line Items]
Restructuring charges				$ 11,152
Office premises and employee severance charge
Restructuring Cost and Reserve [Line Items]
Restructuring charges		$ 21,658
Employee severance
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 4,889

Subsequent Events - Narrative (Detail) - USD ($) $ / shares in Units, $ in Thousands					1 Months Ended	2 Months Ended	12 Months Ended
	Feb. 09, 2021	Feb. 06, 2020	Feb. 07, 2019	Feb. 12, 2018	Feb. 28, 2022	Feb. 24, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Common stock shares repurchased price per share							$ 45.32	$ 40.16	$ 39.16
Aggregate amount of common stock shares repurchased							$ 298,219	$ 137,112	$ 30,015
Increase in quarterly cash dividend (in percentage)	10.00%	15.00%	13.00%
Planned annual dividend (in usd per share)	$ 0.43						$ 0.43			$ 0.30
Dividends per common share (in usd per share)	$ 0.1075	$ 0.0975	$ 0.085	$ 0.075			$ 0.43	$ 0.39	$ 0.34
Subsequent Event
Subsequent Event [Line Items]
Stock repurchased during period (in shares)						1,444,014
Common stock shares repurchased price per share						$ 47.09
Aggregate amount of common stock shares repurchased						$ 68,000
Increase in quarterly cash dividend (in percentage)					16.00%
Planned annual dividend (in usd per share)					$ 0.50
Subsequent Event \| First Quarter Dividend
Subsequent Event [Line Items]
Dividends per common share (in usd per share)					$ 0.125