GENPACT LTD G Cash Flow

Genpact ltd (G)

CashFlow / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Dec'10	Sep'10	Jun'10	Mar'10
Operating activities
Net income (loss)
85,698	82,198	88,120	73,722	60,841	79,147	73,603	64,574	64,695	67,082	73,745	68,946	53,338	76,299	68,922	65,669	58,794	64,413	68,050	62,701	44,653	45,752	46,653	48,984	50,613	48,842	70,262	63,876	46,737	53,401	25,175	61,100	38,540	61,120	48,045	39,010	36,119	46,029	40,131	27,847	28,174
Redeemable non-controlling interest, Net income (loss)
-	-	-	-	-	0	0	0	-761	-944	-584	156	-898	-232	-734	-882	-289	-	-	-	-	0	13	-84	240	1,064	1,169	1,586	1,515	1,523	1,436	1,699	1,716	1,611	1,657	1,720	1,794	2,053	1,428	1,300	2,069
Net income
-	-	-	-	-	79,147	73,603	64,574	63,934	66,138	73,161	69,102	52,440	76,067	68,188	64,787	58,505	64,413	68,050	62,701	44,653	45,752	46,666	48,900	50,853	49,906	71,431	65,462	48,252	54,924	26,611	62,799	40,256	62,731	49,702	40,730	37,913	48,082	41,559	29,147	30,243
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation and amortization
28,494	25,867	24,526	23,789	21,919	17,256	15,999	15,777	15,836	16,232	14,959	13,173	14,139	14,187	13,369	13,842	13,155	14,101	13,374	13,294	13,517	13,280	12,790	12,653	12,341	12,545	12,952	13,739	13,579	14,480	13,464	13,991	14,154	13,805	15,547	15,002	14,003	14,753	14,368	14,773	13,987
Amortization of debt issuance costs
561	491	424	421	443	429	2,567	491	488	502	505	502	375	381	383	382	385	392	395	10,919	1,840	815	815	809	801	820	823	3,796	596	611	6,161	641	666	688	710	496	58	75	91	103	116
Amortization of acquired intangible assets
10,741	9,047	6,960	8,096	8,509	9,716	9,372	9,826	9,936	10,632	10,151	8,387	7,242	7,419	7,126	6,493	6,145	6,638	7,219	7,315	7,341	7,926	7,989	6,610	6,018	6,042	5,867	6,185	5,551	6,156	6,031	5,808	5,310	6,038	5,794	5,181	3,119	3,875	3,951	4,146	4,303
Reserve for mortgage loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	87	20	-	-	-	-	-	-	-	-
Gain on business acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	247
Unrealized loss (gain) on revaluation of foreign currency asset/liability
9,655	309	7,969	-2,850	-257	-7,896	-2,806	-1,175	8,525	2,534	12,252	5,801	-8,757	-413	751	-1,701	-354	-1,321	9,717	2,235	-5,632	-4,546	-5,680	4,102	-3,295	605	-8,421	13,334	733	12,393	-17,655	20,129	-1,167	11,879	6,352	-975	1,020	-109	2,264	-4,366	2,495
Equity-method investment activity, net
-	-	-	-	-	-	-	-	-	24	0	-9	-4,558	-1,362	-2,117	-2,074	-2,145	-2,805	-3,432	-2,340	-2,223	-4,882	33	34	20	30	32	63	44	-7	50	-13	-13	-38	-22	-134	-133	-304	-104	-272	-333
Stock-based compensation expense
17,487	22,578	21,320	21,526	18,461	16,840	13,434	10,937	7,787	13,283	10,051	7,365	4,986	6,769	4,828	8,180	5,336	7,467	6,195	6,654	4,660	7,912	8,274	6,906	4,973	9,198	5,312	10,093	6,526	9,296	5,613	9,980	7,263	10,055	9,153	5,494	3,065	2,551	4,678	5,799	4,486
Deferred tax expense (benefit)
-392	-9,369	-2,704	1,280	-5,522	7,822	2,426	431	-4,625	-5,802	671	-2,370	-2,890	9,725	-3,173	27,086	-3,184	-2,755	-7,716	-5,683	-2,559	-5,669	-6,261	-445	123	-5,310	2,605	1,335	254	-731	-569	-6,052	-2,676	-4,259	-1,143	-2,330	-249	319	-404	-3,736	-1,579
Others, net
348	-392	-1,466	3,579	508	-1,062	39	-322	28	-4,576	445	515	4,301	70	25	9	-63	-37	188	43	44	-158	-238	-154	-741	-67	215	-6,035	-52	-4,292	-2,197	-101	11	-2	-3,920	-1,352	-48	-333	-16	-3	171
Change in operating assets and liabilities:
Increase in accounts receivable
3,858	24,714	10,940	21,566	64,763	63,948	8,398	-1,477	6,025	26,580	28,729	21,607	-19,649	14,852	18,623	-2,560	17,697	44,641	-169	21,002	13,449	-240	9,218	7,209	7,901	30,204	5,121	16,910	8,582	-9,038	28,418	-25,003	41,794	9,746	11,921	23,974	673	9,757	5,366	18,493	16,798
Increase in prepaid expenses, other current assets, contract cost assets, operating lease right-of-use assets and other assets
84,098	-17,251	18,949	31,895	36,220	-19,908	24,741	34,551	37,008	84,611	-20,982	-47,273	12,025	-1,400	1,838	35,291	27,123	-13,555	13,734	22,009	10,414	-34,316	28,103	20,902	16,968	-44,391	9,629	18,084	7,301	-44,120	28,337	18,784	17,524	-38,103	15,442	18,478	14,644	-23,604	20,843	12,631	16,062
Increase (decrease) in accounts payable
4,557	-705	-3,263	-5,218	-12,189	27,314	-7,202	7,513	-1,224	-1,693	-2,086	2,552	-928	-66	-3,278	2,951	-70	-5,243	90	988	177	-1,705	-341	-5,346	124	2,582	2,263	-1,278	-1,782	-504	1,200	-3,094	-1,982	8,952	222	-1,034	-1,340	-2,331	1,802	-1,022	-1,080
Decrease in accrued expenses, other current liabilities, operating leases liability and other liabilities
-74,788	35,169	98,681	35,817	-12,087	50,595	52,363	-19,231	-77,734	18,858	79,745	17,109	-69,131	42,774	62,009	-12,446	-64,360	62,654	34,630	14,698	-42,376	22,375	25,091	27,564	-47,530	-	-	9,144	-42,953	49,040	31,315	35,180	-36,501	17,243	23,780	14,718	-28,224	20,728	20,588	-2,206	-41,670
Increase (Decrease) in other liabilities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-25,070	-7,013	11,257	-	6,519	-4,794	32,501	-10,108	-1,825	5,959	-327	338	561	1,411	851
Increase in income taxes payable
4,796	-40,221	20,312	14,838	13,417	-40,201	20,079	15,750	9,969	-36,684	15,347	17,820	8,157	-35,716	16,778	10,982	8,660	-41,279	25,860	21,961	12,215	-42,578	21,547	11,745	7,194	-43,658	18,277	15,400	3,426	-43,913	15,077	27,019	3,592	-32,541	18,794	15,633	8,459	-17,596	8,855	8,129	7,059
Net cash used for operating activities
-18,649	86,569	220,277	126,458	-5,416	136,705	153,322	76,806	-27,322	95,385	148,369	84,296	31,028	109,768	150,117	95,510	-9,623	73,861	139,000	90,292	24,288	93,035	85,737	78,825	14,241	78,387	125,542	76,127	31,548	101,188	77,400	127,162	4,910	89,528	95,052	60,936	21,096	85,134	68,002	30,023	-20,061
Intangible assets write-down
-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,381	871	4,943	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Reserve for doubtful receivables/allowance for credit losses
2,156	274	2,288	2,855	2,026	152	358	1,450	-103	-	-	-	-	-25	2,840	1,347	3,120	956	227	394	872	785	603	1,522	197	2,501	3,849	1,620	3,450	1,098	2,931	-607	456	354	4,091	982	871	2,707	338	-32	-1,679
Investing activities
Purchase of property, plant and equipment
20,956	19,856	24,679	16,320	14,072	16,951	30,324	18,997	18,706	9,721	18,160	12,266	17,084	-	-	-	25,495	17,293	14,708	16,181	13,991	14,385	18,535	15,127	14,530	11,818	11,426	11,012	14,623	23,196	18,539	19,686	21,916	13,513	10,157	5,919	6,187	7,481	10,781	11,865	25,044
Payment for internally generated intangible assets (including intangibles under development)
3,236	7,573	9,760	8,587	7,914	56,042	7,853	7,179	4,365	7,491	0	6,336	2,614	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from sale of property, plant and equipment
312	129	59	84	1,478	169	190	165	144	90	1,082	177	389	213	98	104	132	133	569	208	576	14	421	26	103	446	2,713	148	135	126	91	109	174	229	208	260	219	323	326	458	132
Investment in equity affiliates
-	-	-	-	-	-	-	-	-	0	0	29	467	2,101	2,236	1,500	3,783	4,903	3,596	3,223	6,701	-	-	-	-	-	-	-	-	0	0	0	205	-	-	-	-	0	0	324	2,000
Short-term deposits placed
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-258	18,490	18,094	18,675	18,340	-855	190	26,303	-	-	-	-	-	-	-	-
Redemption of short-term deposits
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	17,294	15,186	18,094	18,675	0	5,228	133	20,277	-	-	-	-	112	-56	6,508	9,761
Purchase of short term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-15	129,473	-	-	-	-
Proceeds from sale of short term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	129,470	76,973	-12,644	42,983	0	132,601
Payment for business acquisitions, net of cash acquired
-	245,971	0	0	6,305	-	-	-	-	7,273	70,368	197,944	9,237	3,604	29,925	9,294	2,339	0	3,645	6,040	11,678	-	-	-	-	0	3,101	0	46,134	-	-	-	-	15,466	692	559,511	1,564	0	0	16,885	25,690
Proceeds from divestiture of business, net of cash divested
-	-	-	-	-	0	0	0	4,730	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	3,031	0	0	-1,049	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for investing activities
-23,880	-271,103	-34,380	-24,823	-26,813	-76,290	-145,364	-26,739	-27,657	-29,133	-87,446	-216,398	-29,013	-30,163	-32,327	-31,790	-31,485	-22,063	-21,380	-25,236	-31,794	3,521	-43,114	-138,802	-14,427	9,211	-15,118	-10,864	-61,671	-43,380	-29,369	-56,561	-27,973	-28,750	-10,641	-435,685	-60,032	-41,088	-10,480	-55,265	73,413
Financing activities
Repayment of finance lease obligations
1,950	1,124	2,154	2,322	1,780	441	846	571	537	509	1,093	612	494	449	441	449	454	390	554	552	539	570	629	394	502	519	410	413	461	595	522	552	610	794	527	819	681	1,375	789	2,109	588
Payment of debt issuance costs
620	-	-	-	-	-	-	-	-	1,149	0	0	1,481	-	-	-	-	0	0	5,539	1,045	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Proceeds from long-term debt
-	-	-	-	-	-	-	-	-	0	0	0	350,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of long-term debt
8,500	8,500	8,500	8,500	8,500	8,500	137,686	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	10,000	663,188	1,687	1,688	1,687	1,688	1,687	1,688	1,687	118,036	1,687	-	-	-	-	15,000	0	12,500	12,500	12,500	12,500	10,000	10,000
Proceeds from short-term borrowings
125,000	350,000	0	0	50,000	25,000	120,000	0	105,000	20,000	45,000	190,000	40,000	45,000	95,000	0	60,000	0	0	41,500	1,410,000	-	-	-	-	240,000	0	0	35,000	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of short-term borrowings
30,000	525,000	45,000	30,000	25,000	-	-	-	-	10,000	90,000	0	185,000	-	-	-	-	0	0	155,000	1,410,000	-	-	-	-	-	-	-	-	654	251,350	0	1,000	-	-	-	-	330	19	0	-184
Proceeds from issuance of common shares under stock-based compensation plans
4,063	3,721	4,472	6,878	4,599	1,759	2,887	5,186	4,202	2,694	2,754	2,319	7,761	5,420	1,261	6,610	4,937	6,048	2,531	985	6,524	18,278	3,537	2,268	6,061	10,470	7,911	11,418	16,060	6,543	15,896	1,441	2,347	2,226	4,625	5,210	779	6,354	6,713	5,323	6,436
Payment for net settlement of stock-based awards
26,238	673	448	2,077	652	972	718	945	13,284	0	347	10	9,939	308	364	48	49	368	294	929	5,603	10,801	829	6,246	8,099	1,716	78	4,385	3,136	-	-	-	-	-	-	-	-	-	-	-	-
Payment of earn-out consideration
-	0	2,320	2,070	8,400	1,797	83	0	1,476	0	4,932	190	1,097	79	274	167	965	0	104	0	126	-	-	-	-	0	875	2,908	85	-	-	-	-	-	-	-	-	-	-	-	-
Dividend paid
18,543	16,156	16,208	16,188	16,119	14,201	14,253	14,240	14,408	11,590	11,581	11,558	11,957	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Distribution to non-controlling interest
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	116	472	899	1,809	1,372	1,426	1,816	1,799	1,199	1,510	1,252	2,125	7,876	-1,699	-1,497	11,765	-8,188	1,745	1,743
Payment for stock repurchased and retired
45,000	-	-	-	-	23,955	0	34,119	95,984	0	0	0	219,784	102,648	156,148	53,387	33,017	67,881	77,637	68,101	13,298	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Payment for expenses related to stock repurchase
21	-	-	-	-	16	0	22	60	0	0	0	16	87	126	39	27	55	69	61	12	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net cash used for financing activities
-1,809	193,849	-94,071	-54,279	-5,852	-83,123	89,194	-114,711	-26,547	-10,554	-70,199	169,949	-42,007	-63,151	-111,092	-78,980	20,425	-66,086	-86,127	-50,885	-15,786	-24,781	-10,812	-136,700	-5,126	4,738	-111,707	-2,248	43,875	622	-89,157	-17,030	-515	-15,693	1,814	353,877	-13,899	-9,886	-7,769	-8,531	-6,079
Effect of exchange rate changes
-21,134	909	-12,984	5,297	-4,938	-10,126	-29,825	-25,679	1,284	8,715	8,267	15,031	5,555	-12,923	5,134	-7,275	-429	-2,309	-5,744	-6,726	-4,186	-9,186	-9,414	6,213	1,302	-2,558	-36,346	-18,461	1,593	6,295	-681	-23,158	21,455	-46,130	-13,562	5,508	567	9,005	2,360	1,622	4,900
Net decrease in cash and cash equivalents
-44,338	9,315	91,826	47,356	-38,081	-22,708	97,152	-64,644	-81,526	55,698	-9,276	37,847	-39,992	16,454	6,698	-15,260	-20,683	-14,288	31,493	14,171	-23,292	71,775	31,811	-196,677	-5,312	92,336	-1,283	63,015	13,752	58,430	-41,126	53,571	-23,578	45,085	86,225	-20,872	-52,835	34,160	49,753	-33,773	47,273
Supplementary information
Cash paid during the period for interest
5,295	13,451	8,249	14,898	8,486	6,402	13,274	8,614	13,194	4,501	12,766	5,324	5,324	6,263	4,142	5,157	3,968	3,646	2,633	7,728	6,943	7,023	7,324	6,685	6,143	5,304	7,010	10,458	8,016	8,276	1,573	2,099	2,113	990	2,527	1,191	318	324	366	446	481
Cash paid during the period for income taxes, net of refund
69,357	38,655	28,502	17,774	19,286	26,491	20,111	10,652	24,157	19,303	18,286	12,223	16,426	6,437	10,025	7,040	23,229	33,367	14,029	11,586	13,120	19,627	27,000	15,269	21,907	19,052	13,896	13,546	25,363	26,117	25,442	14,063	26,203	23,476	18,714	8,793	14,705	11,594	9,289	8,444	11,139
Right-of-use assets acquired under finance leases
10,353	1,421	-3,601	5,755	1,433	199	1,164	371	297	374	459	909	576	539	708	676	283	294	486	504	372	336	535	771	534	409	548	598	787	744	777	690	488	349	680	551	207	902	355	489	222