Document_And_Entity_Informatio
Document And Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Feb. 14, 2014 | Jun. 28, 2013 | |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Trading Symbol | 'CTSH | ' | ' |
Entity Registrant Name | 'COGNIZANT TECHNOLOGY SOLUTIONS CORP | ' | ' |
Entity Central Index Key | '0001058290 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 303,711,987 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Public Float | ' | ' | $18,777,386,589 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Consolidated_Statements_Of_Fin
Consolidated Statements Of Financial Position (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Assets | ' | ' | ||
Cash and cash equivalents | $2,213,006 | $1,570,077 | ||
Short-term investments | 1,534,467 | 1,293,681 | ||
Trade accounts receivable, net of allowances of $26,824 and $25,816, respectively | 1,648,785 | 1,345,661 | ||
Unbilled accounts receivable | 226,487 | 183,085 | ||
Deferred income tax assets, net | 256,230 | 201,894 | ||
Other current assets | 268,907 | 219,896 | ||
Total current assets | 6,147,882 | 4,814,294 | ||
Property and equipment, net of accumulated depreciation of $719,336 and $573,792, respectively | 1,081,164 | [1] | 971,486 | [1] |
Goodwill | 444,236 | 309,185 | ||
Intangible assets, net | 131,274 | 87,475 | ||
Deferred income tax assets, net | 221,345 | 178,824 | ||
Other noncurrent assets | 183,013 | 160,307 | ||
Total assets | 8,208,914 | 6,521,571 | ||
Liabilities and Stockholders' Equity | ' | ' | ||
Accounts payable | 113,394 | 108,707 | ||
Deferred revenue | 182,893 | 149,696 | ||
Accrued expenses and other current liabilities | 1,478,221 | 1,118,927 | ||
Total current liabilities | 1,774,508 | 1,377,330 | ||
Deferred income tax liabilities, net | 21,170 | 2,777 | ||
Other noncurrent liabilities | 277,445 | 287,081 | ||
Total liabilities | 2,073,123 | 1,667,188 | ||
Commitments and contingencies (See Note 13) | ' | ' | ||
Stockholders' Equity: | ' | ' | ||
Preferred stock, $.10 par value, 15,000 shares authorized, none issued | 0 | 0 | ||
Class A common stock, $.01 par value, 1,000,000 shares authorized, 303,864 and 301,680 shares issued and outstanding at December 31, 2013 and December 31, 2012, respectively (See Note 15) | 3,039 | 3,017 | ||
Additional paid-in capital (See Note 15) | 546,644 | 457,260 | ||
Retained earnings | 5,862,367 | 4,633,789 | ||
Accumulated other comprehensive income (loss) | -276,259 | -239,683 | ||
Total stockholders’ equity | 6,135,791 | 4,854,383 | ||
Total liabilities and stockholders’ equity | $8,208,914 | $6,521,571 | ||
[1] | Long-lived assets include property and equipment, net of accumulated depreciation and amortization. |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Financial Position (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, except Share data, unless otherwise specified | ||
Statement of Financial Position [Abstract] | ' | ' |
Trade accounts receivable, allowances | $26,824 | $25,816 |
Property and equipment, accumulated depreciation | $719,336 | $573,792 |
Preferred stock, par value | $0.10 | $0.10 |
Preferred stock, shares authorized | 15,000,000 | 15,000,000 |
Preferred stock, issued | 0 | 0 |
Class A common stock, par value | $0.01 | $0.01 |
Class A common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Class A common stock, shares issued | 303,864,000 | 301,680,000 |
Class A common stock, shares outstanding | 303,864,000 | 301,680,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 12 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Income Statement [Abstract] | ' | ' | ' | |||
Revenues | $8,843,189 | [1] | $7,346,472 | [1] | $6,121,156 | [1] |
Operating expenses: | ' | ' | ' | |||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 5,265,469 | 4,278,241 | 3,538,622 | |||
Selling, general and administrative expenses | 1,727,609 | 1,557,646 | 1,328,665 | |||
Depreciation and amortization expense | 172,201 | 149,089 | 117,401 | |||
Income from operations | 1,677,910 | 1,361,496 | 1,136,468 | |||
Other income (expense), net: | ' | ' | ' | |||
Interest income | 48,896 | 44,514 | 39,249 | |||
Other, net | -38,889 | -18,414 | -6,568 | |||
Total other income (expense), net | 10,007 | 26,100 | 32,681 | |||
Income before provision for income taxes | 1,687,917 | 1,387,596 | 1,169,149 | |||
Provision for income taxes | 459,339 | 336,333 | 285,531 | |||
Net income | $1,228,578 | $1,051,263 | $883,618 | |||
Basic earnings per share | $4.07 | $3.49 | $2.91 | |||
Diluted earnings per share | $4.03 | $3.44 | $2.85 | |||
Weighted average number of common shares outstanding—Basic | 302,007 | 301,291 | 303,277 | |||
Dilutive effect of shares issuable under stock-based compensation plans | 2,824 | 4,570 | 7,074 | |||
Weighted average number of common shares outstanding—Diluted | 304,831 | 305,861 | 310,351 | |||
[1] | Revenues are attributed to regions based upon customer location. |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Other Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $1,228,578 | $1,051,263 | $883,618 |
Other comprehensive income (loss), net of tax: | ' | ' | ' |
Foreign currency translation adjustments | 12,461 | 15,133 | -7,839 |
Change in unrealized losses on cash flow hedges, net of taxes | -47,183 | 70,229 | -353,762 |
Change in unrealized losses and gains on available-for-sale securities, net of taxes | -1,854 | 349 | 609 |
Other comprehensive income (loss) | -36,576 | 85,711 | -360,992 |
Comprehensive income | $1,192,002 | $1,136,974 | $522,626 |
Consolidated_Statements_Of_Sto
Consolidated Statements Of Stockholders' Equity (USD $) | Total | Class A Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
In Thousands, unless otherwise specified | |||||
Beginning balance at Dec. 31, 2010 | $3,584,431 | $3,039 | $846,886 | $2,698,908 | $35,598 |
Beginning balance, shares at Dec. 31, 2010 | ' | 303,941 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | 883,618 | ' | ' | 883,618 | ' |
Other comprehensive (loss) income | -360,992 | ' | ' | ' | -360,992 |
Common stock issued, stock based compensation plans | 79,551 | 45 | 79,506 | ' | ' |
Common stock issued, stock based compensation plans, shares | ' | 4,513 | ' | ' | ' |
Tax benefit, stock-based compensation plans | 39,778 | ' | 39,778 | ' | ' |
Stock-based compensation expense | 90,232 | ' | 90,232 | ' | ' |
Repurchases of common stock | -374,147 | -55 | -374,092 | ' | ' |
Repurchases of common stock, shares | ' | -5,511 | ' | ' | ' |
Business combination (See Note 2) | 10,415 | 2 | 10,413 | ' | ' |
Business combination (See Note 2), shares | ' | 163 | ' | ' | ' |
Ending balance at Dec. 31, 2011 | 3,952,886 | 3,031 | 692,723 | 3,582,526 | -325,394 |
Ending balance, shares at Dec. 31, 2011 | ' | 303,106 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | 1,051,263 | ' | ' | 1,051,263 | ' |
Other comprehensive (loss) income | 85,711 | ' | ' | ' | 85,711 |
Common stock issued, stock based compensation plans | 129,485 | 72 | 129,413 | ' | ' |
Common stock issued, stock based compensation plans, shares | ' | 7,176 | ' | ' | ' |
Tax benefit, stock-based compensation plans | 48,528 | ' | 48,528 | ' | ' |
Stock-based compensation expense | 107,355 | ' | 107,355 | ' | ' |
Repurchases of common stock | -520,845 | -86 | -520,759 | ' | ' |
Repurchases of common stock, shares | ' | -8,602 | ' | ' | ' |
Ending balance at Dec. 31, 2012 | 4,854,383 | 3,017 | 457,260 | 4,633,789 | -239,683 |
Ending balance, shares at Dec. 31, 2012 | 301,680 | 301,680 | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' |
Net income | 1,228,578 | ' | ' | 1,228,578 | ' |
Other comprehensive (loss) income | -36,576 | ' | ' | ' | -36,576 |
Common stock issued, stock based compensation plans | 117,556 | 48 | 117,508 | ' | ' |
Common stock issued, stock based compensation plans, shares | ' | 4,811 | ' | ' | ' |
Tax benefit, stock-based compensation plans | 32,054 | ' | 32,054 | ' | ' |
Stock-based compensation expense | 118,800 | ' | 118,800 | ' | ' |
Repurchases of common stock | -179,004 | -26 | -178,978 | ' | ' |
Repurchases of common stock, shares | ' | -2,627 | ' | ' | ' |
Ending balance at Dec. 31, 2013 | $6,135,791 | $3,039 | $546,644 | $5,862,367 | ($276,259) |
Ending balance, shares at Dec. 31, 2013 | 303,864 | 303,864 | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash flows from operating activities: | ' | ' | ' |
Net income | $1,228,578 | $1,051,263 | $883,618 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation and amortization | 179,930 | 156,588 | 124,175 |
Provision for doubtful accounts | 3,571 | 5,076 | 4,582 |
Deferred income taxes | -88,194 | -117,908 | -8,599 |
Stock-based compensation expense | 118,800 | 107,355 | 90,232 |
Excess tax benefits on stock-based compensation plans | -30,581 | -48,373 | -39,141 |
Other | 52,544 | 2,499 | 46,036 |
Changes in assets and liabilities: | ' | ' | ' |
Trade accounts receivable | -258,469 | -158,603 | -284,167 |
Other current assets | -74,668 | -29,833 | -99,224 |
Other noncurrent assets | -24,338 | -36,692 | -28,805 |
Accounts payable | -12,123 | 32,773 | -8,593 |
Other current and noncurrent liabilities | 328,726 | 208,438 | 195,038 |
Net cash provided by operating activities | 1,423,776 | 1,172,583 | 875,152 |
Cash flows from investing activities: | ' | ' | ' |
Purchases of property and equipment | -261,626 | -334,465 | -288,221 |
Purchases of investments | -1,848,744 | -1,428,508 | -1,338,664 |
Proceeds from maturity or sale of investments | 1,573,412 | 1,252,821 | 859,404 |
Business combinations, net of cash acquired | -193,805 | -59,894 | -82,800 |
Net cash (used in) investing activities | -730,763 | -570,046 | -850,281 |
Cash flows from financing activities: | ' | ' | ' |
Issuance of common stock under stock-based compensation plans | 117,556 | 129,484 | 79,551 |
Excess tax benefits on stock-based compensation plans | 30,581 | 48,373 | 39,141 |
Repurchases of common stock | -179,004 | -520,845 | -374,147 |
Net cash (used in) financing activities | -30,867 | -342,988 | -255,455 |
Effect of exchange rate changes on cash and cash equivalents | -19,217 | -378 | 521 |
Increase (decrease) in cash and cash equivalents | 642,929 | 259,171 | -230,063 |
Cash and cash equivalents, beginning of year | 1,570,077 | 1,310,906 | 1,540,969 |
Cash and cash equivalents, end of period | 2,213,006 | 1,570,077 | 1,310,906 |
Supplemental information: | ' | ' | ' |
Cash paid for income taxes during the year | $480,980 | $402,098 | $248,229 |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Summary of Significant Accounting Policies | ' |
Summary of Significant Accounting Policies | |
The terms “Cognizant,” “we,” “our,” “us” and “the company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. | |
Description of Business. We are a leading provider of information technology (IT), consulting and business process services, dedicated to helping the world’s leading companies build stronger businesses. Our clients engage us to help them build more efficient operations, provide solutions to critical business and technology problems, and to help them drive technology-based innovation and growth. Our core competencies include: Business, Process, Operations and IT Consulting, Application Development and Systems Integration, Enterprise Information Management, or EIM, Application Testing, Application Maintenance, IT Infrastructure Services, or IT IS and Business Process Services, or BPS. We tailor our services to specific industries and utilize an integrated global delivery model. | |
Basis of Presentation and Principles of Consolidation. The consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States of America, or U.S. GAAP, and reflect the consolidated financial position, results of operations, comprehensive income and cash flows of our consolidated subsidiaries for all periods presented. All intercompany balances and transactions have been eliminated in consolidation. | |
Cash and Cash Equivalents and Investments. Cash and cash equivalents consist of all cash balances, including money market funds and liquid instruments. Liquid instruments are classified as cash equivalents when their maturities at the date of purchase are three months or less and as short-term investments when their maturities at the date of purchase are greater than three months. | |
We determine the appropriate classification of our investments in marketable securities at the date of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable securities as available-for-sale. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these securities prior to their stated maturities. As we view these marketable securities as available to support current operations, we classify such securities with maturities at the date of purchase beyond twelve months as short-term investments because such investments represent an investment in cash that is available for current operations. | |
Available-for-sale securities are reported at fair value with changes in unrealized gains and losses recorded as a separate component of accumulated other comprehensive income (loss) until realized. We determine the cost of the securities sold based on the specific identification method. Time deposits with financial institutions are valued at cost, which approximates fair value. | |
Interest and amortization of premiums and discounts for debt securities are included in interest income. We also evaluate our available-for-sale investments periodically for possible other-than-temporary impairment by reviewing factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, whether we intend to sell the security and whether it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis. Once a decline in fair value is determined to be other-than-temporary, an impairment charge is generally recorded to income and a new cost basis in the investment is established. | |
Allowance for Doubtful Accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is determined by evaluating the relative credit-worthiness of each customer, historical collections experience and other information, including the aging of the receivables. We evaluate the collectability of our accounts receivable on an on-going basis and write-off accounts when they are deemed to be uncollectible. | |
Unbilled Accounts Receivable. Unbilled accounts receivable represent revenues on contracts to be billed, in subsequent periods, as per the terms of the related contracts. | |
Short-term Financial Assets and Liabilities. Cash and cash equivalents, trade receivables, accounts payable and other accrued liabilities are short-term in nature and, accordingly, their carrying values approximate fair value. | |
Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the term of the lease or the estimated useful life of the improvement. In India, leasehold land is leased by us from the government of India with lease terms ranging up to 99 years. Lease payments are made at the inception of the lease agreement and amortized over the lease term. Maintenance and repairs are expensed as incurred, while renewals and betterments are capitalized. Deposits paid towards acquisition of long-lived assets and the cost of assets not put in use before the balance sheet date are disclosed under the caption “capital work-in-progress” in Note 4. | |
Internal Use Software. Costs for software developed or obtained for internal use are capitalized, including the salaries and benefits of employees that are directly involved in the installation and development of such software. The capitalized costs are amortized on a straight-line basis over the software’s useful life. Costs associated with preliminary project stage activities, training, maintenance and all post-implementation stage activities are expensed as incurred. | |
Goodwill. We allocate the cost of an acquired entity to the assets acquired and liabilities assumed based on their estimated fair values including goodwill and identifiable intangible assets. We test goodwill at the reporting unit level for impairment at least annually or as circumstances warrant. If an impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. We do not have any indefinite-lived intangible assets. | |
Long-Lived Assets and Intangibles. We review long-lived assets and certain identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We recognize an impairment loss when the sum of undiscounted expected future cash flows is less than the carrying amount of such assets. The impairment loss would equal the amount by which the carrying amount of the asset exceeds the fair value of the asset. Other intangibles consist primarily of customer relationships and developed technology, which are being amortized on a straight-line basis over their estimated useful lives. | |
Stock Repurchase Program. Our existing stock repurchase program, as amended and approved by our Board of Directors, allows for the repurchase of $1,500,000 of our outstanding shares of Class A common stock and expires on December 31, 2014. Through December 31, 2013, we completed stock repurchases of 15,721,275 shares for $998,127, inclusive of fees and expenses, under this program. Additional stock repurchases were made in connection with our stock-based compensation plans, whereby company shares were tendered by employees for payment of applicable statutory tax withholdings. During 2013, 2012, and 2011 such repurchases totaled 582,936, 532,592 and 504,164 shares, respectively, at an aggregate cost of $47,442, $34,925 and $35,365, respectively. At the time of repurchase, shares are returned to the status of authorized and unissued shares. We account for the repurchases as constructively retired and record such repurchases as a reduction of Class A common stock and additional paid-in capital. | |
Revenue Recognition. Revenues related to time-and-material contracts are recognized as the service is performed and amounts are earned. Revenues from transaction-priced contracts are recognized as transactions are processed and amounts are earned. Revenues related to fixed-price contracts for highly complex application development and systems integration services are recognized as the service is performed using the percentage of completion method of accounting, under which the total value of revenue is recognized on the basis of the percentage that each contract’s total labor cost to date bears to the total expected labor costs (cost to cost method). Revenues related to fixed price outsourcing services are recognized on a straight-line basis unless revenues are earned and obligations are fulfilled in a different pattern. Revenues related to fixed-price contracts for consulting or other IT services are recognized as services are performed on a proportional performance basis based upon the level of effort. | |
For all services, revenue is earned and recognized only when all of the following criteria are met: evidence of an arrangement is obtained, the price is fixed or determinable, the services have been rendered and collectibility is reasonably assured. Contingent or incentive revenues are recognized when the contingency is satisfied and we conclude the amounts are earned. Volume discounts are recorded as a reduction of revenue over the contract period as services are provided. Revenues also include the reimbursement of out-of-pocket expenses. | |
Costs to deliver services are expensed to cost of revenues as incurred with the exception of specific costs directly related to transition or set-up activities for outsourcing contracts. Transition costs are deferred and expensed ratably over the period of service. Generally, deferred amounts are protected in the event of early termination of the contract and are monitored regularly for impairment. Impairment losses are recorded when projected remaining undiscounted operating cash flows of the related contract are not sufficient to recover the carrying amount of the contract assets. Deferred transition costs were approximately $80,254 and $51,615 as of December 31, 2013 and 2012, respectively, and are included in other noncurrent assets in our consolidated statements of financial position. Costs related to warranty provisions are accrued at the time the related revenues are recorded. | |
We may enter into arrangements that consist of multiple elements. Such arrangements may include any combination of our consulting and technology services and outsourcing services. For arrangements with multiple deliverables, we evaluate at the inception of each new arrangement all deliverables to determine whether they represent separate units of accounting. For arrangements with multiple units of accounting, consideration is allocated among the units of accounting, where separable, based on their relative selling price. Relative selling price is determined based on vendor-specific objective evidence, if it exists. Otherwise, third-party evidence of selling price is used, when it is available, and in circumstances when neither vendor-specific objective evidence nor third-party evidence of selling price is available, management’s best estimate of selling price is used. Revenue is recognized for each unit of accounting based on our revenue recognition policy described above. | |
Fixed-price contracts are generally cancelable subject to a specified notice period. All services provided by us through the date of cancellation are due and payable under the contract terms. We issue invoices related to fixed-price contracts based upon achievement of milestones during a project or other contractual terms. Differences between the timing of billing, based on contract milestones or other contractual terms, and the recognition of revenue are recognized as either unbilled receivables or deferred revenue. Estimates of certain fixed-price contracts are subject to adjustment as a project progresses to reflect changes in expected completion costs or efforts. The cumulative impact of any revision in estimates is reflected in the financial reporting period in which the change in estimate becomes known and any anticipated losses on contracts are recognized immediately. | |
Stock-Based Compensation. Stock-based compensation expense for awards of equity instruments to employees and non-employee directors is determined based on the grant-date fair value of those awards. We recognize these compensation costs net of an estimated forfeiture rate over the requisite service period of the award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. | |
Foreign Currency. The assets and liabilities of our foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars from local currencies at current exchange rates and revenues and expenses are translated from local currencies at average monthly exchange rates. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss) on the accompanying consolidated statements of financial position. The U.S. dollar is the functional currency for certain foreign subsidiaries who conduct business predominantly in U.S. dollars. For these foreign subsidiaries, non-monetary assets and liabilities are remeasured at historical exchange rates, while monetary assets and liabilities are remeasured at current exchange rates. Foreign currency exchange gains or losses from remeasurement are included in income. Net foreign currency exchange (losses) included in our results of operations, inclusive of our undesignated foreign currency hedges, were ($41,130), ($20,015), and ($8,779), for the years ended December 31, 2013, 2012 and 2011, respectively. | |
Derivative Financial Instruments. Derivative financial instruments are accounted for in accordance with the authoritative guidance which requires that each derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Our derivative financial instruments consist of foreign exchange forward contracts. For derivative financial instruments to qualify for hedge accounting, the following criteria must be met: (1) the hedging instrument must be designated as a hedge; (2) the hedged exposure must be specifically identifiable and expose us to risk; and (3) it is expected that a change in fair value of the derivative financial instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. The authoritative guidance also requires that changes in our derivatives’ fair values be recognized in income unless specific hedge accounting and documentation criteria are met (i.e., the instruments are accounted for as hedges). For items to which hedge accounting is applied, we record the effective portion of our derivative financial instruments that are designated as cash flow hedges in accumulated other comprehensive income (loss) in the accompanying consolidated statements of financial position. Any ineffectiveness or excluded portion of a designated cash flow hedge is recognized in income. | |
Use of Estimates. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including the recoverability of tangible and intangible assets, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the period. On an on-going basis, management reevaluates these estimates. The most significant estimates relate to the recognition of revenue and profits based on the percentage of completion method of accounting for certain fixed-bid contracts, the allowance for doubtful accounts, income taxes, valuation of goodwill and other long-lived assets, valuation of investments and derivative financial instruments, assumptions used in valuing stock-based compensation arrangements, contingencies and litigation. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements. | |
Risks and Uncertainties. The majority of our development and delivery centers and employees are located in India. As a result, we may be subject to certain risks associated with international operations, including risks associated with foreign currency exchange rate fluctuations and risks associated with the application and imposition of protective legislation and regulations relating to import and export or otherwise resulting from foreign policy or the variability of foreign economic or political conditions. Additional risks associated with international operations include difficulties in enforcing intellectual property rights, the burdens of complying with a wide variety of foreign laws, potential geo-political and other risks associated with terrorist activities and local or cross border conflicts and potentially adverse tax consequences, tariffs, quotas and other barriers. | |
Concentration of Credit Risk. Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents, time deposits, investments in securities, derivative financial instruments and trade accounts receivable. We maintain our cash and cash equivalents and investments with high credit quality financial institutions, invest in investment-grade debt securities and limit the amount of credit exposure to any one commercial issuer. Trade accounts receivable are dispersed across many customers operating in different industries; therefore, concentration of credit risk is limited. | |
Income Taxes. We provide for income taxes utilizing the asset and liability method of accounting. Under this method, deferred income taxes are recorded to reflect the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each balance sheet date, based on enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected to affect taxable income. If it is determined that it is more likely than not that future tax benefits associated with a deferred income tax asset will not be realized, a valuation allowance is provided. The effect on deferred income tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. Tax benefits earned on exercise of employee stock options in excess of compensation charged to income are credited to additional paid-in capital. Our provision for income taxes also includes the impact of provisions established for uncertain income tax positions, as well as the related interest. | |
Earnings Per Share, or EPS. Basic EPS excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes all potential dilutive common stock in the weighted average shares outstanding. For purposes of computing diluted earnings per share for the years ended December 31, 2013, 2012 and 2011, respectively, 2,824,000, 4,570,000, and 7,074,000 shares were assumed to have been outstanding related to common share equivalents. We exclude options with exercise prices that are greater than the average market price for the period from the calculation of diluted EPS because their effect would be anti-dilutive. We excluded 3,400 shares in 2013, 19,500 shares in 2012, and 12,500 in 2011 from our diluted EPS calculation. Also, in accordance with the authoritative guidance, we excluded from the calculation of diluted EPS an additional 48,900 shares in 2013, 79,300 shares in 2012, and 38,600 shares in 2011, related to stock based awards whose combined exercise price, unamortized fair value and excess tax benefits were greater in each of those periods than the average market price of our common stock because their effect would be anti-dilutive. We include performance stock unit awards in the dilutive potential common shares when they become contingently issuable per the authoritative guidance and exclude the awards when they are not contingently issuable. | |
Recently Adopted Accounting Pronouncements. | |
In February 2013, the Financial Accounting Standards Board, or FASB, issued additional guidance related to accumulated other comprehensive income, requiring the presentation of significant amounts reclassified out of accumulated other comprehensive income to the respective line items in the statement of operations. For those amounts required by U.S. GAAP to be reclassified to earnings in their entirety in the same reporting period, this presentation is required either on the statement of operations or in a single footnote. For items that are not required to be reclassified in their entirety to earnings, the presentation requirement can be met by cross-referencing disclosures elsewhere in the footnotes. We adopted this standard on January 1, 2013 and included the required disclosures in Note 7. The adoption of this standard affects financial statement presentation only and has no effect on our financial condition or consolidated results of operations. | |
In December 2011, the FASB issued guidance requiring enhanced disclosures related to the nature of an entity’s rights to offset and any related arrangements associated with its financial instruments and derivative instruments. The new guidance requires the disclosure of the gross amounts subject to rights of set-off, amounts offset in accordance with the accounting standards followed and the related net exposure. In January 2013, the FASB issued an additional update clarifying the scope of this guidance. We adopted this standard on January 1, 2013 and included the required disclosures in Note 11. The adoption of this standard affects financial statement disclosures only and has no effect on our financial condition or consolidated results of operations. | |
New Accounting Pronouncement. | |
In July 2013, the FASB issued new guidance which requires the netting of any unrecognized tax benefits against all available same-jurisdiction deferred tax carryforward assets that would apply if the uncertain tax positions were settled. This standard will be effective for periods beginning on or after January 1, 2014. The adoption of this standard affects financial statement presentation only and will have no effect on our financial condition or consolidated results of operations. |
Business_Combinations
Business Combinations | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||||
Business Combinations | ' | ||||||||||||||||||
Business Combinations | |||||||||||||||||||
During 2013, we completed four business combinations for total cash consideration of approximately $184,200 (net of cash acquired). These transactions strengthened our local presence in Germany, Switzerland and France, expanded our expertise in enterprise application services and high-end testing services, broadened our business process services capabilities within finance and accounting, and strengthened our financial services management and regulatory consulting practice. As part of these business combinations, we acquired customer relationship assets, assembled workforces, a software platform and other assets. | |||||||||||||||||||
During 2012, we completed three business combinations for total cash consideration of approximately $28,100 (net of cash acquired). In August of 2012, we entered into a transaction pursuant to which we signed a multi-year service agreement, assumed an assembled workforce, and acquired land, building and other assets. Under the authoritative business combination guidelines, this transaction qualified as a business combination. This transaction expanded our business process services capabilities within the insurance industry. Additionally, in 2012, we completed two business combinations to strengthen our business process services and research capabilities within the media and healthcare industries. As part of these transactions, we acquired customer relationship assets, assembled workforces, and other assets. In addition, during 2012, we settled contingent payment provisions of approximately $31,400 related to business combinations completed in prior years. | |||||||||||||||||||
During 2011, we completed two business combinations for total consideration, including stock, of approximately $91,000 (net of cash acquired). These transactions strengthened our business process services and analytics solution offerings and enhanced our retail SAP capabilities. | |||||||||||||||||||
These acquisitions were included in our consolidated financial statements as of the date on which the businesses were acquired and were not material to our operations, financial position or cash flow. We have allocated the purchase price related to these transactions to tangible and intangible assets and liabilities, including goodwill, based on their fair values as follows: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Fair Value | Useful Life | Fair Value | Useful Life | Fair Value | Useful Life | ||||||||||||||
Total initial consideration, net of cash acquired(1) | $ | 184,200 | $ | 28,100 | $ | 91,000 | |||||||||||||
Purchase price allocated to: | |||||||||||||||||||
Tax deductible goodwill | — | — | 21,367 | ||||||||||||||||
Non-deductible goodwill | 129,886 | 19,096 | 44,713 | ||||||||||||||||
Customer relationship intangible assets | 58,572 | 5-10 years | 9,400 | 6-12 years | 17,900 | 6-10 years | |||||||||||||
Other intangible assets | 7,192 | 1-5 years | 600 | 5 years | 1,500 | 2-4 years | |||||||||||||
_____________________ | |||||||||||||||||||
-1 | Includes stock consideration in 2011. | ||||||||||||||||||
The primary items that generated the aforementioned goodwill are the value of the synergies between the acquired companies and us and the acquired assembled workforces, neither of which qualify as an amortizable intangible asset. |
Investments
Investments | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
Investments | ||||||||||||||||||||||||
Our short-term investments were as follows as of December 31: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 506,285 | $ | 551,236 | ||||||||||||||||||||
Corporate and other debt securities | 401,800 | 294,556 | ||||||||||||||||||||||
Asset-backed securities | 160,267 | 97,112 | ||||||||||||||||||||||
Municipal debt securities | 115,196 | 47,292 | ||||||||||||||||||||||
Mutual funds | 21,136 | 21,150 | ||||||||||||||||||||||
Total available-for-sale investment securities | 1,204,684 | 1,011,346 | ||||||||||||||||||||||
Time deposits | 329,783 | 282,335 | ||||||||||||||||||||||
Total short-term investments | $ | 1,534,467 | $ | 1,293,681 | ||||||||||||||||||||
Our available-for-sale investment securities consist of U.S. dollar denominated investments primarily in U.S. Treasury notes, U.S. government agency debt securities, municipal debt securities, non-U.S. government debt securities, U.S. and international corporate bonds, certificates of deposit, commercial paper, debt securities issued by supranational institutions, mutual funds invested in fixed income securities, and asset-backed securities, including Government National Mortgage Association (GNMA) mortgage backed securities and securities backed by auto loans, credit card receivables, and other receivables. Our investment guidelines are to purchase securities which are investment grade at the time of acquisition. We monitor the credit ratings of the securities in our portfolio on an ongoing basis. The carrying value of the time deposits approximated fair value as of December 31, 2013 and 2012. | ||||||||||||||||||||||||
Available-for-Sale Investment Securities | ||||||||||||||||||||||||
The amortized cost, gross unrealized gains and losses and fair value of available-for-sale investment securities were as follows at December 31: | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 506,094 | $ | 544 | $ | (353 | ) | $ | 506,285 | |||||||||||||||
Corporate and other debt securities | 400,891 | 1,152 | (243 | ) | 401,800 | |||||||||||||||||||
Asset-backed securities | 160,559 | 99 | (391 | ) | 160,267 | |||||||||||||||||||
Municipal debt securities | 114,888 | 348 | (40 | ) | 115,196 | |||||||||||||||||||
Mutual funds | 22,705 | 280 | (1,849 | ) | 21,136 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,205,137 | $ | 2,423 | $ | (2,876 | ) | $ | 1,204,684 | |||||||||||||||
2012 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 550,317 | $ | 972 | $ | (53 | ) | $ | 551,236 | |||||||||||||||
Corporate and other debt securities | 292,736 | 1,842 | (22 | ) | 294,556 | |||||||||||||||||||
Asset-backed securities | 97,004 | 237 | (129 | ) | 97,112 | |||||||||||||||||||
Municipal debt securities | 47,266 | 93 | (67 | ) | 47,292 | |||||||||||||||||||
Mutual funds | 21,583 | — | (433 | ) | 21,150 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,008,906 | $ | 3,144 | $ | (704 | ) | $ | 1,011,346 | |||||||||||||||
The fair value and related unrealized losses of available-for-sale investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of December 31: | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 221,548 | $ | (353 | ) | $ | — | $ | — | $ | 221,548 | $ | (353 | ) | ||||||||||
Corporate and other debt securities | 106,485 | (243 | ) | — | — | 106,485 | (243 | ) | ||||||||||||||||
Asset-backed securities | 84,051 | (333 | ) | 5,048 | (58 | ) | 89,099 | (391 | ) | |||||||||||||||
Municipal debt securities | 10,702 | (34 | ) | 1,019 | (6 | ) | 11,721 | (40 | ) | |||||||||||||||
Mutual funds | — | — | 20,183 | (1,849 | ) | 20,183 | (1,849 | ) | ||||||||||||||||
Total | $ | 422,786 | $ | (963 | ) | $ | 26,250 | $ | (1,913 | ) | $ | 449,036 | $ | (2,876 | ) | |||||||||
2012 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 120,118 | $ | (53 | ) | $ | — | $ | — | $ | 120,118 | $ | (53 | ) | ||||||||||
Corporate and other debt securities | 25,662 | (21 | ) | 699 | (1 | ) | 26,361 | (22 | ) | |||||||||||||||
Asset-backed securities | 27,180 | (93 | ) | 1,499 | (36 | ) | 28,679 | (129 | ) | |||||||||||||||
Municipal debt securities | 7,908 | (32 | ) | 696 | (35 | ) | 8,604 | (67 | ) | |||||||||||||||
Mutual funds | 21,150 | (433 | ) | — | — | 21,150 | (433 | ) | ||||||||||||||||
Total | $ | 202,018 | $ | (632 | ) | $ | 2,894 | $ | (72 | ) | $ | 204,912 | $ | (704 | ) | |||||||||
The unrealized losses for the above securities as of December 31, 2013 and 2012 are primarily attributable to changes in interest rates. As of December 31, 2013, we do not consider any of the investments to be other-than-temporarily impaired. The gross unrealized gains and losses in the above tables were recorded, net of tax, in accumulated other comprehensive income (loss). | ||||||||||||||||||||||||
The contractual maturities of our fixed income available-for-sale investment securities as of December 31, 2013 are set forth in the following table: | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due within one year | $ | 198,105 | $ | 198,312 | ||||||||||||||||||||
Due after one year up to two years | 358,174 | 358,990 | ||||||||||||||||||||||
Due after two years up to three years | 415,555 | 415,896 | ||||||||||||||||||||||
Due after three years up to four years | 50,039 | 50,083 | ||||||||||||||||||||||
Asset-backed securities | 160,559 | 160,267 | ||||||||||||||||||||||
Fixed income available-for-sale investment securities | $ | 1,182,432 | $ | 1,183,548 | ||||||||||||||||||||
Asset-backed securities were excluded from the maturity categories because the actual maturities may differ from the contractual maturities since the underlying receivables may be prepaid without penalties. Further, actual maturities of debt securities may differ from those presented above since certain obligations provide the issuer the right to call or prepay the obligation prior to scheduled maturity without penalty. | ||||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities and the gross gains and losses that have been included in earnings as a result of those sales were as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities | $ | 1,119,822 | $ | 697,406 | $ | 652,992 | ||||||||||||||||||
Gross gains | $ | 1,951 | $ | 2,410 | $ | 3,102 | ||||||||||||||||||
Gross losses | (554 | ) | (402 | ) | (785 | ) | ||||||||||||||||||
Net realized gains on sales of available-for-sale investment securities | $ | 1,397 | $ | 2,008 | $ | 2,317 | ||||||||||||||||||
Property_and_Equipment_Net
Property and Equipment, Net | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property, Plant and Equipment, Net [Abstract] | ' | ||||||||||
Property and Equipment, net | ' | ||||||||||
Property and Equipment, net | |||||||||||
Property and equipment were as follows as of December 31: | |||||||||||
Estimated Useful Life (Years) | 2013 | 2012 | |||||||||
Buildings | 30 | $ | 444,955 | $ | 423,340 | ||||||
Computer equipment and software | 3 | 426,527 | 352,147 | ||||||||
Furniture and equipment | 5 – 9 | 273,815 | 240,988 | ||||||||
Land | 22,644 | 20,396 | |||||||||
Leasehold land | lease term | 60,306 | 60,306 | ||||||||
Capital work-in-progress | 360,578 | 256,272 | |||||||||
Leasehold improvements | Shorter of the lease term or | 211,675 | 191,829 | ||||||||
the life of the leased asset | |||||||||||
Sub-total | 1,800,500 | 1,545,278 | |||||||||
Accumulated depreciation and amortization | (719,336 | ) | (573,792 | ) | |||||||
Property and equipment, net | $ | 1,081,164 | $ | 971,486 | |||||||
Depreciation and amortization expense related to property and equipment was $155,681, $137,561, and $107,257 for the years ended December 31, 2013, 2012, and 2011, respectively. | |||||||||||
In India, leasehold land is leased by us from the government of India with lease terms ranging up to 99 years. Lease payments are made at the inception of the lease agreement and amortized over the lease term. Amortization expense of leasehold land is immaterial for the periods presented and is included in depreciation and amortization expense in our accompanying consolidated statements of operations. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets, net | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Goodwill and Intangible Assets, Net | ' | ||||||||||||
Goodwill and Intangible Assets, net | |||||||||||||
Changes in goodwill were as follows for the years ended December 31: | |||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 309,185 | $ | 288,772 | |||||||||
Business combinations | 129,886 | 19,096 | |||||||||||
Cumulative translation adjustments | 5,165 | 1,317 | |||||||||||
Balance, end of year | $ | 444,236 | $ | 309,185 | |||||||||
In 2013 and 2012, the increase in goodwill was primarily related to business combinations completed during the period. No impairment losses were recognized during the three years ended December 31, 2013. | |||||||||||||
Goodwill has been allocated to our reportable segments as follows as of December 31: | |||||||||||||
2013 | 2012 | ||||||||||||
Financial Services | $ | 208,588 | $ | 137,677 | |||||||||
Healthcare | 107,409 | 78,977 | |||||||||||
Manufacturing/Retail/Logistics | 71,644 | 48,304 | |||||||||||
Other | 56,595 | 44,227 | |||||||||||
Total goodwill | $ | 444,236 | $ | 309,185 | |||||||||
Components of intangible assets were as follows as of December 31: | |||||||||||||
2013 | |||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||
Amount | Amortization | Amount | |||||||||||
Customer relationships | $ | 203,543 | $ | (88,159 | ) | $ | 115,384 | ||||||
Developed technology | 4,250 | (2,994 | ) | 1,256 | |||||||||
Other | 21,438 | (6,804 | ) | 14,634 | |||||||||
Total intangible assets | $ | 229,231 | $ | (97,957 | ) | $ | 131,274 | ||||||
2012 | |||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||
Amount | Amortization | Amount | |||||||||||
Customer relationships | $ | 142,653 | $ | (67,058 | ) | $ | 75,595 | ||||||
Developed technology | 4,222 | (2,204 | ) | 2,018 | |||||||||
Other | 13,921 | (4,059 | ) | 9,862 | |||||||||
Total intangible assets | $ | 160,796 | $ | (73,321 | ) | $ | 87,475 | ||||||
All of the intangible assets have finite lives and as such are subject to amortization. Amortization of intangible assets totaled $24,249 for 2013, $19,027 for 2012, and $16,918 for 2011. During 2013, 2012 and 2011, amortization of $7,729, $7,499 and $6,774, respectively, relating to customer relationship intangible assets was recorded as a reduction of revenues. These intangible assets are attributed to direct revenue contracts with sellers of acquired businesses. | |||||||||||||
Estimated amortization expense related to our existing intangible assets for the next five years are as follows: | |||||||||||||
Year | Amount | ||||||||||||
2014 | $ | 26,779 | |||||||||||
2015 | 21,308 | ||||||||||||
2016 | 19,635 | ||||||||||||
2017 | 16,934 | ||||||||||||
2018 | 11,606 | ||||||||||||
Accrued_Expenses_and_Other_Cur
Accrued Expenses and Other Current Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Expenses And Other Current Liabilities [Abstract] | ' | |||||||
Accrued Expenses and Other Current Liabilities | ' | |||||||
Accrued Expenses and Other Current Liabilities | ||||||||
Accrued expenses and other current liabilities were as follows as of December 31: | ||||||||
2013 | 2012 | |||||||
Compensation and benefits | $ | 894,986 | $ | 661,816 | ||||
Income taxes | 24,312 | 29,570 | ||||||
Professional fees | 45,453 | 35,366 | ||||||
Travel and entertainment | 29,645 | 26,417 | ||||||
Customer volume incentives | 170,669 | 142,945 | ||||||
Derivative financial instruments | 191,584 | 130,923 | ||||||
Deferred income taxes | — | 454 | ||||||
Other | 121,572 | 91,436 | ||||||
Total accrued expenses and other current liabilities | $ | 1,478,221 | $ | 1,118,927 | ||||
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the year ended December 31, 2013: | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Before Tax | Tax | Net of Tax | ||||||||||||||||||||||
Amount | Effect | Amount | ||||||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | 11,572 | $ | — | $ | 11,572 | ||||||||||||||||||
Change in foreign currency translation adjustments | 12,461 | — | 12,461 | |||||||||||||||||||||
Ending balance | $ | 24,033 | $ | — | $ | 24,033 | ||||||||||||||||||
Unrealized gains (losses) on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | 2,440 | $ | (885 | ) | $ | 1,555 | |||||||||||||||||
Unrealized (losses) arising during the period | (1,638 | ) | 582 | (1,056 | ) | |||||||||||||||||||
Reclassification of (gains) to Other, net | (1,255 | ) | 457 | (798 | ) | |||||||||||||||||||
Net change | (2,893 | ) | 1,039 | (1,854 | ) | |||||||||||||||||||
Ending balance | $ | (453 | ) | $ | 154 | $ | (299 | ) | ||||||||||||||||
Unrealized (losses) on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | ||||||||||||||||
Unrealized (losses) arising during the period | (221,275 | ) | 36,248 | (185,027 | ) | |||||||||||||||||||
Reclassifications of losses to: | ||||||||||||||||||||||||
Cost of revenues | 135,044 | (20,839 | ) | 114,205 | ||||||||||||||||||||
Selling, general and administrative expenses | 27,950 | (4,311 | ) | 23,639 | ||||||||||||||||||||
Net change | (58,281 | ) | 11,098 | (47,183 | ) | |||||||||||||||||||
Ending balance | $ | (354,876 | ) | $ | 54,883 | $ | (299,993 | ) | ||||||||||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | ||||||||||||||||
Other comprehensive income (loss) | (48,713 | ) | 12,137 | (36,576 | ) | |||||||||||||||||||
Ending balance | $ | (331,296 | ) | $ | 55,037 | $ | (276,259 | ) | ||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the years ended December 31, 2012 and 2011: | ||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||
Before Tax | Tax | Net of Tax | Before Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | Effect | Amount | Amount | Effect | Amount | |||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | (3,561 | ) | $ | — | $ | (3,561 | ) | $ | 4,278 | $ | — | $ | 4,278 | ||||||||||
Change in foreign currency translation adjustments | 15,133 | — | 15,133 | (7,839 | ) | — | (7,839 | ) | ||||||||||||||||
Ending balance | $ | 11,572 | $ | — | $ | 11,572 | $ | (3,561 | ) | $ | — | $ | (3,561 | ) | ||||||||||
Unrealized gains on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | 1,986 | $ | (780 | ) | $ | 1,206 | $ | 1,005 | $ | (408 | ) | $ | 597 | ||||||||||
Unrealized gains arising during the period | 1,970 | (727 | ) | 1,243 | 2,845 | (1,115 | ) | 1,730 | ||||||||||||||||
Reclassification of (gains) to Other, net | (1,516 | ) | 622 | (894 | ) | (1,864 | ) | 743 | (1,121 | ) | ||||||||||||||
Net change | 454 | (105 | ) | 349 | 981 | (372 | ) | 609 | ||||||||||||||||
Ending balance | $ | 2,440 | $ | (885 | ) | $ | 1,555 | $ | 1,986 | $ | (780 | ) | $ | 1,206 | ||||||||||
Unrealized (losses) gains on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (385,640 | ) | $ | 62,601 | $ | (323,039 | ) | $ | 32,339 | $ | (1,616 | ) | $ | 30,723 | |||||||||
Unrealized (losses) arising during the period | (7,065 | ) | (3,548 | ) | (10,613 | ) | (399,205 | ) | 59,652 | (339,553 | ) | |||||||||||||
Reclassifications of losses (gains) to: | ||||||||||||||||||||||||
Cost of revenues | 79,335 | (12,601 | ) | 66,734 | (15,294 | ) | 3,719 | (11,575 | ) | |||||||||||||||
Selling, general and administrative expenses | 16,775 | (2,667 | ) | 14,108 | (3,480 | ) | 846 | (2,634 | ) | |||||||||||||||
Net change | 89,045 | (18,816 | ) | 70,229 | (417,979 | ) | 64,217 | (353,762 | ) | |||||||||||||||
Ending balance | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | $ | (385,640 | ) | $ | 62,601 | $ | (323,039 | ) | ||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (387,215 | ) | $ | 61,821 | $ | (325,394 | ) | $ | 37,622 | $ | (2,024 | ) | $ | 35,598 | |||||||||
Other comprehensive income (loss) | 104,632 | (18,921 | ) | 85,711 | (424,837 | ) | 63,845 | (360,992 | ) | |||||||||||||||
Ending balance | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | $ | (387,215 | ) | $ | 61,821 | $ | (325,394 | ) | ||||||||
Employee_Benefits
Employee Benefits | 12 Months Ended |
Dec. 31, 2013 | |
General Discussion of Pension and Other Postretirement Benefits [Abstract] | ' |
Employee Benefits | ' |
Employee Benefits | |
We contribute to defined contribution plans in the United States and Europe, including a 401(k) savings and supplemental retirement plans in the United States. Total expenses for company contributions to these plans were $34,628, $24,789, and $19,453 for the years ended December 31, 2013, 2012, and 2011, respectively. | |
We maintain employee benefit plans that cover substantially all India-based employees. The employees’ provident fund, pension and family pension plans are statutory defined contribution retirement benefit plans. Under the plans, employees contribute up to 12% of their base compensation, which is matched by an equal contribution by the company. For these plans, we recognized a contribution expense of $56,070, $54,125, and $49,200 for the years ended December 31, 2013, 2012, and 2011, respectively. | |
We also maintain a gratuity plan in India that is a statutory post-employment benefit plan providing defined lump sum benefits. We make annual contributions to the employees’ gratuity fund established with a government-owned insurance corporation to fund a portion of the estimated obligation. Accordingly, our liability for the gratuity plan reflects the undiscounted benefit obligation payable as of the balance sheet date which was based upon the employees’ salary and years of service. As of December 31, 2013 and 2012, the amount accrued under the gratuity plan was $69,629 and $56,737, which is net of fund assets of $55,004 and $50,427, respectively. Expense recognized by us was $30,962, $28,496, and $29,703 for the years ended December 31, 2013, 2012, and 2011, respectively. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||||||||
Income Taxes | ' | |||||||||||||||||||||
Income Taxes | ||||||||||||||||||||||
Income before provision for income taxes shown below is based on the geographic location to which such income is attributed for years ended December 31: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
United States | $ | 540,738 | $ | 381,940 | $ | 344,143 | ||||||||||||||||
Foreign | 1,147,179 | 1,005,656 | 825,006 | |||||||||||||||||||
Income before provision for income taxes | $ | 1,687,917 | $ | 1,387,596 | $ | 1,169,149 | ||||||||||||||||
The provision for income taxes consists of the following components for the years ended December 31: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Current: | ||||||||||||||||||||||
Federal and state | $ | 269,974 | $ | 265,826 | $ | 120,441 | ||||||||||||||||
Foreign | 277,559 | 188,415 | 173,689 | |||||||||||||||||||
Total current | 547,533 | 454,241 | 294,130 | |||||||||||||||||||
Deferred: | ||||||||||||||||||||||
Federal and state | (37,085 | ) | (99,649 | ) | 26,549 | |||||||||||||||||
Foreign | (51,109 | ) | (18,259 | ) | (35,148 | ) | ||||||||||||||||
Total deferred | (88,194 | ) | (117,908 | ) | (8,599 | ) | ||||||||||||||||
Total provision for income taxes | $ | 459,339 | $ | 336,333 | $ | 285,531 | ||||||||||||||||
The reconciliation between our effective income tax rate and the U.S. federal statutory rate were as follows for the years ended December 31: | ||||||||||||||||||||||
2013 | % | 2012 | % | 2011 | % | |||||||||||||||||
Tax expense, at U.S. federal statutory rate | $ | 590,771 | 35 | $ | 485,659 | 35 | $ | 409,202 | 35 | |||||||||||||
State and local income taxes, net of federal benefit | 33,147 | 2 | 24,032 | 1.7 | 20,373 | 1.7 | ||||||||||||||||
Non-taxable income for Indian tax purposes | (146,326 | ) | (8.7 | ) | (151,789 | ) | (10.9 | ) | (125,708 | ) | (10.8 | ) | ||||||||||
Rate differential on foreign earnings | (24,606 | ) | (1.5 | ) | (22,126 | ) | (1.6 | ) | (26,030 | ) | (2.2 | ) | ||||||||||
Other | 6,353 | 0.4 | 557 | 0 | 7,694 | 0.7 | ||||||||||||||||
Total provision for income taxes | $ | 459,339 | 27.2 | $ | 336,333 | 24.2 | $ | 285,531 | 24.4 | |||||||||||||
The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31: | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Deferred income tax assets: | ||||||||||||||||||||||
Net operating losses | $ | 8,831 | $ | 10,911 | ||||||||||||||||||
Revenue recognition | 34,368 | 31,628 | ||||||||||||||||||||
Compensation and benefits | 132,134 | 99,110 | ||||||||||||||||||||
Stock-based compensation | 23,202 | 26,993 | ||||||||||||||||||||
Minimum alternative tax (MAT) and other credits | 217,099 | 178,244 | ||||||||||||||||||||
Depreciation and amortization | 4,720 | — | ||||||||||||||||||||
Other accrued expenses | 70,193 | 61,095 | ||||||||||||||||||||
Other | 10,170 | 1,321 | ||||||||||||||||||||
500,717 | 409,302 | |||||||||||||||||||||
Less valuation allowance | (5,659 | ) | (6,288 | ) | ||||||||||||||||||
Deferred income tax assets, net | 495,058 | 403,014 | ||||||||||||||||||||
Deferred income tax liabilities: | ||||||||||||||||||||||
Undistributed Indian earnings | — | 5,601 | ||||||||||||||||||||
Depreciation and amortization | — | 832 | ||||||||||||||||||||
Intangible assets | 38,653 | 19,094 | ||||||||||||||||||||
Deferred income tax liabilities | 38,653 | 25,527 | ||||||||||||||||||||
Net deferred income tax assets | $ | 456,405 | $ | 377,487 | ||||||||||||||||||
At December 31, 2013, we had foreign net operating loss carryforwards of approximately $28,962. We have recorded valuation allowances on certain foreign net operating loss carryforwards. As of December 31, 2013 and 2012, deferred income tax assets related to the minimum alternative tax, or MAT, were approximately $195,000 and $163,000, respectively. The calculation of the MAT includes all profits realized by our Indian subsidiaries and any MAT paid is creditable against future corporate income tax within a 10-year expiration period, subject to limitations. Our existing MAT assets expire between March 2018 and March 2024 and we expect to fully utilize them within the applicable 10-year expiration periods. | ||||||||||||||||||||||
Our Indian subsidiaries, collectively referred to as Cognizant India, are primarily export-oriented and are eligible for certain income tax holiday benefits granted by the government of India for export activities conducted within Special Economic Zones, or SEZs, for periods of up to 15 years. Our Indian operations outside of SEZs are subject to corporate income tax at the rate of 33.99%. In addition, all Indian profits, including those generated within SEZs, are subject to the MAT, at the current rate of approximately 20.0%. For the years ended December 31, 2013, 2012, and 2011, the effect of the income tax holidays granted by the Indian government was to reduce the overall income tax provision and increase net income by approximately $146,326, $151,789, and $125,708, respectively, and increase diluted EPS by $0.48, $0.50, and $0.41, respectively. | ||||||||||||||||||||||
We pursue an international strategy that includes expanded infrastructure investments in India and geographic expansion outside the United States. Therefore, other than foreign earnings for which we have already accrued U.S. taxes, we do not intend to repatriate our foreign earnings as such earnings are deemed to be indefinitely reinvested outside the United States. As of December 31, 2013, the amount of unrepatriated Indian earnings and total foreign earnings (including unrepatriated Indian earnings) upon which no incremental U.S. taxes have been recorded is approximately $4,357,000 and $4,827,500, respectively. If such earnings are repatriated in the future, or are no longer deemed to be indefinitely reinvested, we will accrue the applicable amount of taxes associated with such earnings at that time. Due to the various methods by which such earnings could be repatriated in the future, it is not practicable to determine the amount of applicable taxes that would result from such repatriation. | ||||||||||||||||||||||
Due to the geographical scope of our operations, we are subject to tax examinations in various jurisdictions. Accordingly, we record incremental tax expense, based upon the more-likely-than-not standard, for any uncertain tax positions. In addition, when applicable, we adjust the previously recorded income tax expense to reflect examination results when the position is effectively settled or otherwise resolved. Our ongoing evaluations of the more-likely-than-not outcomes of the examinations and related tax positions require judgment and can result in adjustments that increase or decrease our effective income tax rate, as well as impact our operating results. The specific timing of when the resolution of each tax position will be reached is uncertain. | ||||||||||||||||||||||
Changes in unrecognized income tax benefits were as follows for the years ended December 31: | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Balance, beginning of year | $ | 92,721 | $ | 56,526 | ||||||||||||||||||
Additions based on tax positions related to the current year | 12,982 | 37,270 | ||||||||||||||||||||
Additions for tax positions of prior years | 14,854 | 7,847 | ||||||||||||||||||||
Additions for tax positions of acquired subsidiaries | — | 88 | ||||||||||||||||||||
Reductions for tax positions due to lapse of statutes of limitations | (4,353 | ) | (8,816 | ) | ||||||||||||||||||
Reductions for tax positions of prior years | (10,199 | ) | — | |||||||||||||||||||
Settlements | — | — | ||||||||||||||||||||
Foreign currency exchange movement | (9,395 | ) | (194 | ) | ||||||||||||||||||
Balance, end of year | $ | 96,610 | $ | 92,721 | ||||||||||||||||||
At December 31, 2013, the entire balance of unrecognized income tax benefits would affect our effective income tax rate, if recognized. While the company believes uncertain tax positions may be settled or resolved within the next twelve months, it is difficult to estimate the income tax impact of these potential resolutions at this time. We recognize accrued interest and any penalties associated with uncertain tax positions as part of our provision for income taxes. The total amount of accrued interest and penalties at December 31, 2013 and 2012 was approximately $8,725 and $8,209, respectively, and relates to U.S. and foreign tax matters. The amount of interest and penalties expensed in 2013, 2012, and 2011 were immaterial. | ||||||||||||||||||||||
We file a U.S. federal consolidated income tax return. The U.S. federal statute of limitations remains open for the years 2010 and onward. The statute of limitations for state audits varies by state. Years still under examination by foreign tax authorities are years 2001 and forward. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Fair Value Measurements | ' | |||||||||||||||
Fair Value Measurements | ||||||||||||||||
We measure our cash equivalents, investments and foreign exchange forward contracts at fair value. The authoritative guidance defines fair value as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants as of the measurement date. The authoritative guidance also establishes a fair value hierarchy that is intended to increase consistency and comparability in fair value measurements and related disclosures. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing based upon their own market assumptions. | ||||||||||||||||
The fair value hierarchy consists of the following three levels: | ||||||||||||||||
• | Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities. | |||||||||||||||
• | Level 2 – Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived principally from or corroborated by observable market data. | |||||||||||||||
• | Level 3 – Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable. | |||||||||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2013: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 694,416 | $ | — | $ | — | $ | 694,416 | ||||||||
Time deposits | 128,654 | 128,654 | ||||||||||||||
Commercial paper | — | 22,000 | 22,000 | |||||||||||||
Total cash equivalents | 694,416 | 150,654 | — | 845,070 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 329,783 | — | 329,783 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 423,051 | 83,234 | — | 506,285 | ||||||||||||
Corporate and other debt securities | — | 401,800 | — | 401,800 | ||||||||||||
Asset-backed securities | — | 160,267 | — | 160,267 | ||||||||||||
Municipal debt securities | — | 115,196 | — | 115,196 | ||||||||||||
Mutual funds | — | 21,136 | — | 21,136 | ||||||||||||
Total available-for-sale investment securities | 423,051 | 781,633 | — | 1,204,684 | ||||||||||||
Total short-term investments | 423,051 | 1,111,416 | — | 1,534,467 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 11,105 | — | 11,105 | ||||||||||||
Accrued expenses and other current liabilities | — | (191,584 | ) | — | (191,584 | ) | ||||||||||
Other noncurrent liabilities | — | (164,490 | ) | — | (164,490 | ) | ||||||||||
Total | $ | 1,117,467 | $ | 917,101 | $ | — | $ | 2,034,568 | ||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2012: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 411,512 | $ | — | $ | — | $ | 411,512 | ||||||||
Time deposits | — | 300,770 | — | 300,770 | ||||||||||||
Commercial paper | — | 7,918 | — | 7,918 | ||||||||||||
Total cash equivalents | 411,512 | 308,688 | — | 720,200 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 282,335 | — | 282,335 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 392,067 | 159,169 | — | 551,236 | ||||||||||||
Corporate and other debt securities | — | 294,556 | — | 294,556 | ||||||||||||
Asset-backed securities | — | 97,112 | — | 97,112 | ||||||||||||
Municipal debt securities | — | 47,292 | — | 47,292 | ||||||||||||
Mutual funds | — | 21,150 | — | 21,150 | ||||||||||||
Total available-for-sale investment securities | 392,067 | 619,279 | — | 1,011,346 | ||||||||||||
Total short-term investments | 392,067 | 901,614 | — | 1,293,681 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 1,344 | — | 1,344 | ||||||||||||
Accrued expenses and other current liabilities | — | (130,923 | ) | — | (130,923 | ) | ||||||||||
Other noncurrent assets | — | 3,436 | — | 3,436 | ||||||||||||
Other noncurrent liabilities | — | (175,628 | ) | — | (175,628 | ) | ||||||||||
Total | $ | 803,579 | $ | 908,531 | $ | — | $ | 1,712,110 | ||||||||
We measure the fair value of money market funds and U.S. Treasury securities based on quoted prices in active markets for identical assets. The fair value of commercial paper, certificates of deposit, U.S. government agency securities, municipal debt securities, U.S. and international corporate bonds and foreign government debt securities is measured based on relevant trade data, dealer quotes, or model driven valuations using significant inputs derived from or corroborated by observable market data, such as yield curves and credit spreads. We measure the fair value of our asset-backed securities using model driven valuations based on significant inputs derived from or corroborated by observable market data such as dealer quotes, available trade information, spread data, current market assumptions on prepayment speeds and defaults and historical data on deal collateral performance. The value of the mutual funds invested in fixed income securities is based on the net asset value, or NAV, of the fund, with appropriate consideration of the liquidity and any restrictions on disposition of our investment in the fund. | ||||||||||||||||
We estimate the fair value of each foreign exchange forward contract by using a present value of expected cash flows model. This model calculates the difference between the current market forward price and the contracted forward price for each foreign exchange contract and applies the difference in the rates to each outstanding contract. The market forward rates include a discount and credit risk factor. The amounts are aggregated by type of contract and maturity. | ||||||||||||||||
During the year ended December 31, 2013, 2012 and 2011, there were no transfers among Level 1, Level 2, or Level 3 financial assets and liabilities. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||
Derivative Financial Instruments | |||||||||||||||||||
In the normal course of business, we use foreign exchange forward contracts to manage foreign currency exchange rate risk. The estimated fair value of the foreign exchange forward contracts considers the following items: discount rate, timing and amount of cash flow and counterparty credit risk. Derivatives may give rise to credit risks from the possible non-performance by counterparties. Credit risk is generally limited to the fair value of those contracts that are favorable to us. We have limited our credit risk by entering into derivative transactions only with highly-rated global financial institutions, limiting the amount of credit exposure with any one financial institution and conducting ongoing evaluation of the creditworthiness of the financial institutions with which we do business. In addition, all the assets and liabilities related to our foreign exchange forward contracts set forth in the below table are subject to International Swaps and Derivatives Association, or ISDA, master netting arrangements or other similar agreements with each individual counterparty. These master netting arrangements generally provide for net settlement of all outstanding contracts with the counterparty in the case of an event of default or a termination event. We have presented all the assets and liabilities related to our foreign exchange forward contracts on a gross basis, with no offsets, in our accompanying consolidated statements of financial position. There is no financial collateral (including cash collateral) posted or received by us related to our foreign exchange forward contracts. | |||||||||||||||||||
The following table provides information on the location and fair values of derivative financial instruments included in our consolidated statement of financial position as of: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
Designation of Derivatives | Location on Statement of | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Financial Position | |||||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | $ | — | $ | — | $ | 1,230 | $ | — | ||||||||||
Other noncurrent assets | — | — | 3,436 | — | |||||||||||||||
Accrued expenses and other current liabilities | — | 190,386 | — | 125,633 | |||||||||||||||
Other noncurrent liabilities | — | 164,490 | — | 175,628 | |||||||||||||||
Total | — | 354,876 | 4,666 | 301,261 | |||||||||||||||
Other Derivatives – Not designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | 11,105 | — | 114 | — | ||||||||||||||
Accrued expenses and other current liabilities | — | 1,198 | — | 5,290 | |||||||||||||||
Total | 11,105 | 1,198 | 114 | 5,290 | |||||||||||||||
Total | $ | 11,105 | $ | 356,074 | $ | 4,780 | $ | 306,551 | |||||||||||
Cash Flow Hedges | |||||||||||||||||||
We have entered into a series of foreign exchange forward contracts that are designated as cash flow hedges of Indian rupee denominated payments in India. These contracts are intended to partially offset the impact of movement of exchange rates on future operating costs and are scheduled to mature each month during 2014, 2015 and 2016. Under these contracts, we purchase Indian rupees and sell U.S. dollars. The changes in fair value of these contracts are initially reported in the caption “accumulated other comprehensive income (loss)” in our consolidated statements of financial position and are subsequently reclassified to earnings in the same period the hedge contract matures. As of December 31, 2013, we estimate that $160,942, net of tax, of the net losses related to derivatives designated as cash flow hedges recorded in accumulated other comprehensive income (loss) is expected to be reclassified into earnings within the next 12 months. | |||||||||||||||||||
The notional value of our outstanding contracts by year of maturity and the net unrealized (loss) included in accumulated other comprehensive income (loss) for such contracts were as follows as of: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
2013 | $ | — | $ | 1,253,000 | |||||||||||||||
2014 | 1,200,000 | 1,200,000 | |||||||||||||||||
2015 | 900,000 | 780,000 | |||||||||||||||||
2016 | 240,000 | 120,000 | |||||||||||||||||
Total notional value of contracts outstanding | $ | 2,340,000 | $ | 3,353,000 | |||||||||||||||
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | $ | (299,993 | ) | $ | (252,810 | ) | |||||||||||||
Upon settlement or maturity of the cash flow hedge contracts, we record the related gain or loss, based on our designation at the commencement of the contract, with the hedged Indian rupee denominated expense reported within cost of revenues and selling, general and administrative expenses. Hedge ineffectiveness was immaterial for all periods presented. | |||||||||||||||||||
The following table provides information on the location and amounts of pre-tax (losses) on our cash flow hedges for the year ended December 31: | |||||||||||||||||||
(Increase) Decrease in | Location of Net Derivative | Net (Loss) Reclassified | |||||||||||||||||
Derivative | (Losses) Reclassified | from Accumulated Other | |||||||||||||||||
Losses Recognized | from Accumulated Other | Comprehensive Income (Loss) | |||||||||||||||||
in Accumulated Other | Comprehensive Income (Loss) | into Income | |||||||||||||||||
Comprehensive Income (Loss) | into Income | (effective portion) | |||||||||||||||||
(effective portion) | (effective portion) | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | $ | (221,275 | ) | $ | (7,065 | ) | Cost of revenues | $ | (135,044 | ) | $ | (79,335 | ) | ||||||
Selling, general and administrative expenses | (27,950 | ) | (16,775 | ) | |||||||||||||||
Total | $ | (162,994 | ) | $ | (96,110 | ) | |||||||||||||
The activity related to the change in net unrealized (losses) on our cash flow hedges included in accumulated other comprehensive income (loss) is presented in Note 7. | |||||||||||||||||||
Other Derivatives | |||||||||||||||||||
We use foreign exchange forward contracts, which have not been designated as hedges, to hedge balance sheet exposure to certain monetary assets and liabilities denominated in currencies other than the functional currency of our foreign subsidiaries. We entered into foreign exchange forward contracts to purchase U.S. dollars and sell Indian rupees, Euros and British pounds. Contracts outstanding as of December 31, 2013 are schedule to mature in 2014. Realized gains or losses and changes in the estimated fair value of these derivative financial instruments are recorded in Other, net in our consolidated statements of operations. | |||||||||||||||||||
Additional information related to our outstanding contracts is as follows as of: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
Notional | Market Value | Notional | Market Value | ||||||||||||||||
Contracts to purchase U.S. dollars and sell: | |||||||||||||||||||
Indian rupees | $ | 171,802 | $ | 11,105 | $ | 178,571 | $ | (5,290 | ) | ||||||||||
Euros | 55,500 | (412 | ) | 30,000 | 114 | ||||||||||||||
British pounds | 52,000 | (786 | ) | — | |||||||||||||||
Total | $ | 279,302 | $ | 9,907 | $ | 208,571 | $ | (5,176 | ) | ||||||||||
The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on our other derivative financial instruments for the years ended December 31, 2013 and 2012: | |||||||||||||||||||
Location of Net Gains (Losses) | Amount of Net Gains (Losses) | ||||||||||||||||||
on Derivative Instruments | on Derivative Instruments | ||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Other Derivatives – Not designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other, net | $ | 14,084 | $ | (8,270 | ) | |||||||||||||
The related cash flow impacts of all of our derivative activities are reflected as cash flows from operating activities. |
StockBased_Compensation_Plans
Stock-Based Compensation Plans | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Stock-Based Compensation Plans | ' | |||||||||||||
Stock-Based Compensation Plans | ||||||||||||||
On June 5, 2009, our stockholders approved the adoption of the Cognizant Technology Solutions Corporation 2009 Incentive Compensation Plan (the “2009 Incentive Plan”), under which 24,000,000 shares of our Class A common stock were reserved for issuance. The 2009 Incentive Plan is the successor plan to our Amended and Restated 1999 Incentive Compensation Plan which terminated on April 13, 2009 in accordance with its terms (the “1999 Incentive Plan”), our Amended and Restated Non-Employee Directors’ Stock Option Plan (the “Director Plan”) and our Amended and Restated Key Employees’ Stock Option Plan (the “Key Employee Plan”) which terminated in July 2009 (collectively, the “Predecessor Plans”). The 2009 Incentive Plan will not affect any options or stock issuances outstanding under the Predecessor Plans. No further awards will be made under the Predecessor Plans. As of December 31, 2013, we have 11,635,263 shares available for grant under the 2009 Incentive Plan. | ||||||||||||||
Stock options granted to employees under our plans have a life ranging from seven to ten years, vest proportionally over four years, unless specified otherwise, and have an exercise price equal to the fair market value of the common stock on the date of grant. Grants to non-employee directors vest proportionally over two years. Stock-based compensation expense relating to stock options is recognized on a straight-line basis over the requisite service period. | ||||||||||||||
Restricted stock units vest proportionately in quarterly or annual installments over three years. Stock-based compensation expense relating to restricted stock units is recognized on a straight-line basis over the requisite service period. | ||||||||||||||
We granted performance stock units that vest over periods ranging from one to three years to employees, including executive officers. The vesting of performance stock units is contingent on both meeting revenue performance targets and continued service. Stock-based compensation costs for performance stock units that vest proportionally are recognized on a graded-vesting basis over the vesting period based on the most probable outcome of the performance conditions. If the minimum performance targets are not met, no compensation cost is recognized and any recognized compensation cost is reversed. | ||||||||||||||
The company’s 2004 Employee Stock Purchase Plan (the “Purchase Plan”), as amended in 2013, provides for the issuance of up to 14,000,000 shares of Class A common stock to eligible employees. The Purchase Plan provides for eligible employees to purchase whole shares of Class A common stock at a price of 90% of the lesser of: (a) the fair market value of a share of Class A common stock on the first date of the purchase period or (b) the fair market value of a share of Class A common stock on the last date of the purchase period. Stock-based compensation expense for the Purchase Plan is recognized over the vesting period of three months on a straight-line basis. As of December 31, 2013, we had 6,080,870 shares available for future grants and issuances under the Purchase Plan. | ||||||||||||||
The allocation of total stock-based compensation expense between cost of revenues and selling, general and administrative expenses as well as the related income tax benefit were as follows for the three years ended December 31: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Cost of revenues | $ | 19,107 | $ | 16,773 | $ | 15,257 | ||||||||
Selling, general and administrative expenses | 99,693 | 90,582 | 74,975 | |||||||||||
Total stock-based compensation expense | $ | 118,800 | $ | 107,355 | $ | 90,232 | ||||||||
Income tax benefit | $ | 29,387 | $ | 26,206 | $ | 21,510 | ||||||||
We estimate the fair value of each stock option granted using the Black-Scholes option-pricing model. For the years ended December 31, 2013, 2012 and 2011, expected volatility was calculated using implied market volatilities. In addition, the expected term, which represents the period of time, measured from the grant date, that vested options are expected to be outstanding, was derived by incorporating exercise and post-vest termination assumptions, based on historical data, in a Monte Carlo simulation model. The risk-free rate is derived from the U.S. Treasury yield curve in effect at the time of grant. We have not paid any dividends. Forfeiture assumptions used in amortizing stock-based compensation expense are based on an analysis of historical data. | ||||||||||||||
The fair values of option grants, including the Purchase Plan, were estimated at the date of grant during the years ended December 31, 2013, 2012, and 2011 based upon the following assumptions and were as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Weighted average volatility factor: | ||||||||||||||
Stock options | 33.47 | % | 36.71 | % | 31.87 | % | ||||||||
Purchase Plan | 29.17 | % | 32.31 | % | 34.66 | % | ||||||||
Weighted average expected life (in years): | ||||||||||||||
Stock options | 3.82 | 3.69 | 3.54 | |||||||||||
Purchase Plan | 0.25 | 0.25 | 0.25 | |||||||||||
Weighted average risk-free interest rate: | ||||||||||||||
Stock options | 0.73 | % | 0.43 | % | 1.06 | % | ||||||||
Purchase Plan | 0.05 | % | 0.06 | % | 0.05 | % | ||||||||
Weighted average grant date fair value: | ||||||||||||||
Stock options | $ | 17.3 | $ | 16.77 | $ | 18.85 | ||||||||
Purchase Plan | $ | 11.74 | $ | 11.13 | $ | 12.21 | ||||||||
During the year ended December 31, 2013, we issued 879,548 shares of Class A common stock under the Purchase Plan with a total vested fair value of approximately $10,323. | ||||||||||||||
A summary of the activity for stock options granted under our stock-based compensation plans as of December 31, 2013 and changes during the year then ended is presented below: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Options | Average Exercise | Average | Interinsic | |||||||||||
Price | Remaining Life | Value | ||||||||||||
(in dollars) | (in years) | (in thousands) | ||||||||||||
Outstanding at January 1, 2013 | 5,801,346 | $ | 29.52 | |||||||||||
Granted | 52,020 | 64.82 | ||||||||||||
Exercised | (2,409,290 | ) | 25.54 | |||||||||||
Cancelled | — | — | ||||||||||||
Expired | (8,215 | ) | 22.56 | |||||||||||
Outstanding at December 31, 2013 | 3,435,861 | $ | 32.86 | 3.08 | $ | 234,065 | ||||||||
Vested and expected to vest at December 31, 2013 | 3,426,185 | $ | 32.77 | 3.06 | $ | 233,696 | ||||||||
Exercisable at December 31, 2013 | 3,338,841 | $ | 32 | 2.99 | $ | 230,324 | ||||||||
As of December 31, 2013, $902 of total remaining unrecognized stock-based compensation cost related to stock options is expected to be recognized over the weighted-average remaining requisite service period of one year. The total intrinsic value of options exercised was $137,446, $256,623, and $136,182 for the years ended December 31, 2013, 2012, and 2011, respectively. | ||||||||||||||
The fair value of performance stock units and restricted stock units is determined based on the number of stock units granted and the quoted price of our stock at date of grant. | ||||||||||||||
A summary of the activity for performance stock units granted under our stock-based compensation plans as of December 31, 2013 and changes during the year then ended is presented below. The presentation reflects the number of performance stock units at the maximum performance milestones. | ||||||||||||||
Number of | Weighted Average | |||||||||||||
Units | Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2013 | 1,771,294 | $ | 66.84 | |||||||||||
Granted | 818,846 | 93.84 | ||||||||||||
Vested | (578,559 | ) | 67.35 | |||||||||||
Forfeited | (73,040 | ) | 67.42 | |||||||||||
Reduction due to the achievement of lower than maximum performance milestones | (64,730 | ) | 66.69 | |||||||||||
Unvested at December 31, 2013 | 1,873,811 | $ | 78.46 | |||||||||||
As of December 31, 2013, $70,489 of total remaining unrecognized stock-based compensation cost related to performance stock units is expected to be recognized over the weighted-average remaining requisite service period of 2.11 years. | ||||||||||||||
A summary of the activity for restricted stock units granted under our stock-based compensation plans as of December 31, 2013 and changes during the year then ended is presented below: | ||||||||||||||
Number of | Weighted | |||||||||||||
Units | Average Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2013 | 1,784,735 | $ | 69.39 | |||||||||||
Granted | 1,079,962 | 84.11 | ||||||||||||
Vested | (945,020 | ) | 70.18 | |||||||||||
Forfeited | (121,273 | ) | 69.62 | |||||||||||
Unvested at December 31, 2013 | 1,798,404 | $ | 77.8 | |||||||||||
As of December 31, 2013, $117,925 of total remaining unrecognized stock-based compensation cost related to restricted stock units is expected to be recognized over the weighted-average remaining requisite service period of 2.08 years. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
Commitments and Contingencies | ||||
We lease office space and equipment under operating leases, which expire at various dates through the year 2024. Certain leases contain renewal provisions and generally require us to pay utilities, insurance, taxes, and other operating expenses. Future minimum rental payments on our operating leases as of December 31, 2013 are as follows: | ||||
2014 | $ | 135,745 | ||
2015 | 119,396 | |||
2016 | 96,772 | |||
2017 | 78,564 | |||
2018 | 55,426 | |||
Thereafter | 187,434 | |||
Total minimum lease payments | $ | 673,337 | ||
Rental expense totaled $166,206, $147,576, and $122,035 years ended December 31, 2013, 2012, and 2011, respectively. | ||||
As of December 31, 2013, we had outstanding fixed capital commitments of approximately $63,260 related to our India real estate development program to build new company-owned state-of-the-art IT development and delivery centers. | ||||
We are involved in various claims and legal actions arising in the ordinary course of business. In the opinion of management, the outcome of such claims and legal actions, if decided adversely, is not expected to have a material adverse effect on our business, financial condition, results of operations and cash flows. Additionally, many of our engagements involve projects that are critical to the operations of our customers’ business and provide benefits that are difficult to quantify. Any failure in a customer’s systems or our failure to meet our contractual obligations to our clients, including any breach involving a customer’s confidential information or sensitive data, or our obligations under applicable laws or regulations could result in a claim for substantial damages against us, regardless of our responsibility for such failure. Although we attempt to contractually limit our liability for damages arising from negligent acts, errors, mistakes, or omissions in rendering our services, there can be no assurance that the limitations of liability set forth in our contracts will be enforceable in all instances or will otherwise protect us from liability for damages. Although we have general liability insurance coverage, including coverage for errors or omissions, there can be no assurance that such coverage will cover all types of claims, continue to be available on reasonable terms or will be available in sufficient amounts to cover one or more large claims, or that the insurer will not disclaim coverage as to any future claim. The successful assertion of one or more large claims against us that exceed or are not covered by our insurance coverage or changes in our insurance policies, including premium increases or the imposition of large deductible or co-insurance requirements, could have a material adverse effect on our business, results of operations, financial condition and cash flows. | ||||
In the normal course of business and in conjunction with certain client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients or other parties with whom we conduct business with respect to certain matters. These arrangements can include provisions whereby we agree to hold the indemnified party and certain of their affiliated entities harmless with respect to third-party claims related to such matters as our breach of certain representations or covenants, or out of our intellectual property infringement, our gross negligence or willful misconduct or certain other claims made against certain parties. Payments by us under any of these arrangements are generally conditioned on the client making a claim and providing us with full control over the defense and settlement of such claim. It is not possible to determine the maximum potential amount under these indemnification agreements due to the unique facts and circumstances involved in each particular agreement. Historically, we have not made payments under these indemnification agreements and therefore they have not had any impact on our operating results, financial position, or cash flows. However, if events arise requiring us to make payment for indemnification claims under our indemnification obligations in contracts we have entered, such payments could have material impact on our business, results of operations, financial condition and cash flows. |
Segment_Information
Segment Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | ' | |||||||||||
Segment Information | ' | |||||||||||
Segment Information | ||||||||||||
Our reportable segments are: Financial Services, which includes customers providing banking/transaction processing, capital markets and insurance services; Healthcare, which includes healthcare providers and payers as well as life sciences customers; Manufacturing/Retail/Logistics, which includes manufacturers, retailers, travel and other hospitality customers, as well as customers providing logistics services; and Other, which is an aggregation of industries each of which, individually, represents less than 10% of consolidated revenues and segment operating profit. The Other reportable segment includes our information, media and entertainment services, communications and high technology operating segments. Our sales managers, account executives, account managers and project teams are aligned in accordance with the specific industries they serve. | ||||||||||||
Our chief operating decision maker evaluates the company’s performance and allocates resources based on segment revenues and operating profit. Segment operating profit is defined as income from operations before unallocated costs. Generally, operating expenses for each operating segment have similar characteristics and are subject to the same factors, pressures and challenges. However, the economic environment and its effects on industries served by our operating segments may affect revenue and operating expenses to differing degrees. Expenses included in segment operating profit consist principally of direct selling and delivery costs as well as a per seat charge for use of the development and delivery centers. Certain selling, general and administrative expenses, excess or shortfall of incentive compensation for delivery personnel as compared to target, stock-based compensation expense, a portion of depreciation and amortization and the impact of the settlements of our cash flow hedges are not allocated to individual segments in internal management reports used by the chief operating decision maker. Accordingly, such expenses are excluded from segment operating profit and are separately disclosed as “unallocated” and adjusted only against our total income from operations. Additionally, management has determined that it is not practical to allocate identifiable assets by segment, since such assets are used interchangeably among the segments. | ||||||||||||
Revenues from external customers and segment operating profit, before unallocated expenses, for the Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other reportable segments were as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Revenues: | ||||||||||||
Financial Services | $ | 3,717,573 | $ | 3,035,447 | $ | 2,518,422 | ||||||
Healthcare | 2,264,826 | 1,934,898 | 1,622,157 | |||||||||
Manufacturing/Retail/Logistics | 1,868,305 | 1,498,668 | 1,197,472 | |||||||||
Other | 992,485 | 877,459 | 783,105 | |||||||||
Total revenue | $ | 8,843,189 | $ | 7,346,472 | $ | 6,121,156 | ||||||
Segment Operating Profit: | ||||||||||||
Financial Services | $ | 1,212,099 | $ | 998,339 | $ | 872,267 | ||||||
Healthcare | 829,916 | 724,454 | 625,052 | |||||||||
Manufacturing/Retail/Logistics | 630,250 | 527,970 | 440,416 | |||||||||
Other | 318,357 | 288,052 | 254,145 | |||||||||
Total segment operating profit | 2,990,622 | 2,538,815 | 2,191,880 | |||||||||
Less: unallocated costs(1) | 1,312,712 | 1,177,319 | 1,055,412 | |||||||||
Income from operations | $ | 1,677,910 | $ | 1,361,496 | $ | 1,136,468 | ||||||
____________ | ||||||||||||
-1 | Includes $118,800, $107,355 and $90,232 of stock-based compensation expense for the years ended 2013, 2012 and 2011, respectively. | |||||||||||
Geographic Area Information | ||||||||||||
Revenue and long-lived assets, by geographic area, were as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Revenues: (1) | ||||||||||||
North America(2) | $ | 6,860,067 | $ | 5,836,258 | $ | 4,802,958 | ||||||
Europe(3) | 1,579,205 | 1,195,490 | 1,097,475 | |||||||||
Rest of World(4) | 403,917 | 314,724 | 220,723 | |||||||||
Total | $ | 8,843,189 | $ | 7,346,472 | $ | 6,121,156 | ||||||
2013 | 2012 | 2011 | ||||||||||
Long-lived Assets: (5) | ||||||||||||
North America(2) | $ | 48,352 | $ | 52,149 | $ | 27,387 | ||||||
Europe | 22,707 | 8,696 | 5,232 | |||||||||
Rest of World(4)(6) | 1,010,105 | 910,641 | 725,415 | |||||||||
Total | $ | 1,081,164 | $ | 971,486 | $ | 758,034 | ||||||
_____________ | ||||||||||||
(1) Revenues are attributed to regions based upon customer location. | ||||||||||||
(2) Substantially all relates to operations in the United States. | ||||||||||||
-3 | Includes revenue from operations in the United Kingdom of $942,579, $764,936 and $698,853 for the years ended 2013, 2012, and 2011, respectively. | |||||||||||
(4) Includes our operations in Asia Pacific, the Middle East and Latin America. | ||||||||||||
(5) Long-lived assets include property and equipment, net of accumulated depreciation and amortization. | ||||||||||||
(6) Substantially all of these long-lived assets relate to our operations in India. |
Subsequent_Event_Notes
Subsequent Event (Notes) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Subsequent Events [Abstract] | ' | ||||||||||||||||||||||||
Subsequent Event | ' | ||||||||||||||||||||||||
Note 15 — Subsequent Event | |||||||||||||||||||||||||
Class A Common Stock Split. | |||||||||||||||||||||||||
On February 4, 2014, our Board of Directors declared a two-for-one stock split of the company's Class A common stock in the form of a 100% stock dividend. The record date for the two-for-one stock split is the close of business on February 21, 2014, and share distribution will occur on or about March 7, 2014. As a result of the stock split, stockholders will receive one additional share of Class A common stock, par value $0.01, for each share they hold as of the record date. | |||||||||||||||||||||||||
All numbers of shares outstanding and per share amounts in the consolidated financial statements and notes to the consolidated financial statements are presented on a pre-split basis. Subsequent to the effective date of the stock split, all historical numbers of shares outstanding and per share data amounts presented in future financial statements will be retroactively adjusted. | |||||||||||||||||||||||||
Pro-forma unaudited earnings per share are as follows, giving retroactive effect to the stock split: | |||||||||||||||||||||||||
(in thousands, except per share data) | Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Basic | Diluted | ||||||||||||||||||||||||
Net income | $ | 1,228,578 | $ | 1,051,263 | $ | 883,618 | $ | 1,228,578 | $ | 1,051,263 | $ | 883,618 | |||||||||||||
Weighted average number of common shares outstanding, as reported | 302,007 | 301,291 | 303,277 | 304,831 | 305,861 | 310,351 | |||||||||||||||||||
Weighted average number of common shares outstanding, pro-forma | 604,015 | 602,582 | 606,553 | 609,662 | 611,722 | 620,702 | |||||||||||||||||||
Earnings per share, as reported | $ | 4.07 | $ | 3.49 | $ | 2.91 | $ | 4.03 | $ | 3.44 | $ | 2.85 | |||||||||||||
Earnings per share, pro-forma | $ | 2.03 | $ | 1.74 | $ | 1.46 | $ | 2.02 | $ | 1.72 | $ | 1.42 | |||||||||||||
Pro-forma unaudited quarterly earnings per share for the year ended December 31, 2013 are presented in Note 16. | |||||||||||||||||||||||||
In addition, the pro-forma unaudited impact on the consolidated statement of financial position as a result of the stock split is an increase of $3,039 to Class A common stock and an offsetting reduction in additional paid-in capital. |
Quarterly_Financial_Data_Unaud
Quarterly Financial Data (Unaudited) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||||||||||||||
Quarterly Financial Data | ' | ||||||||||||||||||||||||||||||||
Quarterly Financial Data (Unaudited) | |||||||||||||||||||||||||||||||||
Summarized quarterly results for the two years ended December 31, 2013 are as follows: | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
2013 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||||||||||||||
Revenues | $ | 2,020,738 | $ | 2,161,240 | $ | 2,305,723 | $ | 2,355,488 | $ | 8,843,189 | |||||||||||||||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,199,965 | 1,272,013 | 1,382,336 | 1,411,155 | 5,265,469 | ||||||||||||||||||||||||||||
Selling, general and administrative expenses | 413,204 | 420,526 | 443,376 | 450,503 | 1,727,609 | ||||||||||||||||||||||||||||
Depreciation and amortization expense | 41,662 | 41,898 | 42,652 | 45,989 | 172,201 | ||||||||||||||||||||||||||||
Income from operations | 365,907 | 426,803 | 437,359 | 447,841 | 1,677,910 | ||||||||||||||||||||||||||||
Net income | 284,209 | 300,410 | 319,627 | 324,332 | 1,228,578 | ||||||||||||||||||||||||||||
Basic EPS | $ | 0.94 | $ | 1 | $ | 1.06 | $ | 1.07 | $ | 4.07 | |||||||||||||||||||||||
Diluted EPS | $ | 0.93 | $ | 0.99 | $ | 1.05 | $ | 1.06 | $ | 4.03 | |||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
2012 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||||||||||||||
Revenues | $ | 1,711,349 | $ | 1,795,220 | $ | 1,891,688 | $ | 1,948,215 | $ | 7,346,472 | |||||||||||||||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 984,520 | 1,030,889 | 1,111,898 | 1,150,934 | 4,278,241 | ||||||||||||||||||||||||||||
Selling, general and administrative expenses | 374,178 | 396,771 | 384,951 | 401,746 | 1,557,646 | ||||||||||||||||||||||||||||
Depreciation and amortization expense | 34,752 | 35,602 | 39,453 | 39,282 | 149,089 | ||||||||||||||||||||||||||||
Income from operations | 317,899 | 331,958 | 355,386 | 356,253 | 1,361,496 | ||||||||||||||||||||||||||||
Net income | 243,651 | 251,932 | 276,901 | 278,779 | 1,051,263 | ||||||||||||||||||||||||||||
Basic EPS | $ | 0.8 | $ | 0.83 | $ | 0.93 | $ | 0.93 | $ | 3.49 | |||||||||||||||||||||||
Diluted EPS | $ | 0.79 | $ | 0.82 | $ | 0.91 | $ | 0.92 | $ | 3.44 | |||||||||||||||||||||||
Pro-forma unaudited quarterly earnings per share for the year ended December 31, 2013, giving retroactive effect to the upcoming stock split described in Note 15, are as follows: | |||||||||||||||||||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||||||||||||||
Basic | Diluted | ||||||||||||||||||||||||||||||||
Net income | $ | 284,209 | $ | 300,410 | $ | 319,627 | $ | 324,332 | $ | 284,209 | $ | 300,410 | $ | 319,627 | $ | 324,332 | |||||||||||||||||
Weighted average number of common shares outstanding, as reported | 301,854 | 301,670 | 301,632 | 302,873 | 305,176 | 304,446 | 304,275 | 305,428 | |||||||||||||||||||||||||
Weighted average number of common shares outstanding, pro-forma | 603,708 | 603,340 | 603,265 | 605,746 | 610,353 | 608,892 | 608,549 | 610,856 | |||||||||||||||||||||||||
Earnings per share, as reported | $ | 0.94 | $ | 1 | $ | 1.06 | $ | 1.07 | $ | 0.93 | $ | 0.99 | $ | 1.05 | $ | 1.06 | |||||||||||||||||
Earnings per share, pro-forma | $ | 0.47 | $ | 0.5 | $ | 0.53 | $ | 0.54 | $ | 0.47 | $ | 0.49 | $ | 0.53 | $ | 0.53 | |||||||||||||||||
Valuation_And_Qualifying_Accou
Valuation And Qualifying Accounts | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Valuation and Qualifying Accounts [Abstract] | ' | ||||||||||||||||||||
Valuation And Qualifying Accounts | ' | ||||||||||||||||||||
Valuation and Qualifying Accounts | |||||||||||||||||||||
For the Years Ended December 31, 2013, 2012, and 2011 | |||||||||||||||||||||
(in thousands) | |||||||||||||||||||||
Description | Balance at | Charged to | Charged to | Deductions | Balance at | ||||||||||||||||
Beginning of | Costs and | Other | /Other | End of | |||||||||||||||||
Period | Expenses | Accounts | Period | ||||||||||||||||||
Trade accounts receivable allowance for doubtful accounts: | |||||||||||||||||||||
2013 | $ | 25,816 | $ | 3,571 | $ | — | $ | 2,563 | $ | 26,824 | |||||||||||
2012 | $ | 24,658 | $ | 5,051 | $ | — | $ | 3,893 | $ | 25,816 | |||||||||||
2011 | $ | 20,991 | $ | 4,516 | $ | — | $ | 849 | $ | 24,658 | |||||||||||
Warranty accrual: | |||||||||||||||||||||
2013 | $ | 14,840 | $ | 20,327 | $ | — | $ | 17,468 | $ | 17,699 | |||||||||||
2012 | $ | 12,291 | $ | 17,063 | $ | — | $ | 14,514 | $ | 14,840 | |||||||||||
2011 | $ | 9,094 | $ | 14,078 | $ | — | $ | 10,881 | $ | 12,291 | |||||||||||
Valuation allowance—deferred income tax assets: | |||||||||||||||||||||
2013 | $ | 6,288 | $ | 3,974 | $ | — | $ | 4,603 | $ | 5,659 | |||||||||||
2012 | $ | 10,365 | $ | 1,399 | $ | — | $ | 5,476 | $ | 6,288 | |||||||||||
2011 | $ | 10,684 | $ | 470 | $ | — | $ | 789 | $ | 10,365 | |||||||||||
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policy) | 12 Months Ended |
Dec. 31, 2013 | |
Accounting Policies [Abstract] | ' |
Basis of Presentation and Principles of Consolidation | ' |
Basis of Presentation and Principles of Consolidation. The consolidated financial statements are presented in accordance with generally accepted accounting principles in the United States of America, or U.S. GAAP, and reflect the consolidated financial position, results of operations, comprehensive income and cash flows of our consolidated subsidiaries for all periods presented. All intercompany balances and transactions have been eliminated in consolidation. | |
Cash And Cash Equivalents And Investments | ' |
Cash and Cash Equivalents and Investments. Cash and cash equivalents consist of all cash balances, including money market funds and liquid instruments. Liquid instruments are classified as cash equivalents when their maturities at the date of purchase are three months or less and as short-term investments when their maturities at the date of purchase are greater than three months. | |
We determine the appropriate classification of our investments in marketable securities at the date of purchase and reevaluate such designation at each balance sheet date. We have classified and accounted for our marketable securities as available-for-sale. After consideration of our risk versus reward objectives, as well as our liquidity requirements, we may sell these securities prior to their stated maturities. As we view these marketable securities as available to support current operations, we classify such securities with maturities at the date of purchase beyond twelve months as short-term investments because such investments represent an investment in cash that is available for current operations. | |
Available-for-sale securities are reported at fair value with changes in unrealized gains and losses recorded as a separate component of accumulated other comprehensive income (loss) until realized. We determine the cost of the securities sold based on the specific identification method. Time deposits with financial institutions are valued at cost, which approximates fair value. | |
Interest and amortization of premiums and discounts for debt securities are included in interest income. We also evaluate our available-for-sale investments periodically for possible other-than-temporary impairment by reviewing factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer, whether we intend to sell the security and whether it is more likely than not that we will be required to sell the security prior to recovery of its amortized cost basis. Once a decline in fair value is determined to be other-than-temporary, an impairment charge is generally recorded to income and a new cost basis in the investment is established. | |
Allowance For Doubtful Accounts | ' |
Allowance for Doubtful Accounts. We maintain an allowance for doubtful accounts for estimated losses resulting from the inability of our customers to make required payments. The allowance for doubtful accounts is determined by evaluating the relative credit-worthiness of each customer, historical collections experience and other information, including the aging of the receivables. We evaluate the collectability of our accounts receivable on an on-going basis and write-off accounts when they are deemed to be uncollectible. | |
Unbilled Accounts Receivable | ' |
Unbilled Accounts Receivable. Unbilled accounts receivable represent revenues on contracts to be billed, in subsequent periods, as per the terms of the related contracts. | |
Short-Term Financial Assets And Liabilities | ' |
Short-term Financial Assets and Liabilities. Cash and cash equivalents, trade receivables, accounts payable and other accrued liabilities are short-term in nature and, accordingly, their carrying values approximate fair value. | |
Property And Equipment | ' |
Property and Equipment. Property and equipment are stated at cost, net of accumulated depreciation. Depreciation is calculated on the straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized on a straight-line basis over the shorter of the term of the lease or the estimated useful life of the improvement. In India, leasehold land is leased by us from the government of India with lease terms ranging up to 99 years. Lease payments are made at the inception of the lease agreement and amortized over the lease term. Maintenance and repairs are expensed as incurred, while renewals and betterments are capitalized. Deposits paid towards acquisition of long-lived assets and the cost of assets not put in use before the balance sheet date are disclosed under the caption “capital work-in-progress” in Note 4. | |
Internal Use Software | ' |
Internal Use Software. Costs for software developed or obtained for internal use are capitalized, including the salaries and benefits of employees that are directly involved in the installation and development of such software. The capitalized costs are amortized on a straight-line basis over the software’s useful life. Costs associated with preliminary project stage activities, training, maintenance and all post-implementation stage activities are expensed as incurred. | |
Goodwill | ' |
Goodwill. We allocate the cost of an acquired entity to the assets acquired and liabilities assumed based on their estimated fair values including goodwill and identifiable intangible assets. We test goodwill at the reporting unit level for impairment at least annually or as circumstances warrant. If an impairment is indicated, a write-down to fair value (normally measured by discounting estimated future cash flows) is recorded. We do not have any indefinite-lived intangible assets. | |
Long-Lived Assets And Intangibles | ' |
Long-Lived Assets and Intangibles. We review long-lived assets and certain identifiable intangibles for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. We recognize an impairment loss when the sum of undiscounted expected future cash flows is less than the carrying amount of such assets. The impairment loss would equal the amount by which the carrying amount of the asset exceeds the fair value of the asset. Other intangibles consist primarily of customer relationships and developed technology, which are being amortized on a straight-line basis over their estimated useful lives. | |
Stock Repurchase Program | ' |
Stock Repurchase Program. Our existing stock repurchase program, as amended and approved by our Board of Directors, allows for the repurchase of $1,500,000 of our outstanding shares of Class A common stock and expires on December 31, 2014. Through December 31, 2013, we completed stock repurchases of 15,721,275 shares for $998,127, inclusive of fees and expenses, under this program. Additional stock repurchases were made in connection with our stock-based compensation plans, whereby company shares were tendered by employees for payment of applicable statutory tax withholdings. During 2013, 2012, and 2011 such repurchases totaled 582,936, 532,592 and 504,164 shares, respectively, at an aggregate cost of $47,442, $34,925 and $35,365, respectively. At the time of repurchase, shares are returned to the status of authorized and unissued shares. We account for the repurchases as constructively retired and record such repurchases as a reduction of Class A common stock and additional paid-in capital. | |
Revenue Recognition | ' |
Revenue Recognition. Revenues related to time-and-material contracts are recognized as the service is performed and amounts are earned. Revenues from transaction-priced contracts are recognized as transactions are processed and amounts are earned. Revenues related to fixed-price contracts for highly complex application development and systems integration services are recognized as the service is performed using the percentage of completion method of accounting, under which the total value of revenue is recognized on the basis of the percentage that each contract’s total labor cost to date bears to the total expected labor costs (cost to cost method). Revenues related to fixed price outsourcing services are recognized on a straight-line basis unless revenues are earned and obligations are fulfilled in a different pattern. Revenues related to fixed-price contracts for consulting or other IT services are recognized as services are performed on a proportional performance basis based upon the level of effort. | |
For all services, revenue is earned and recognized only when all of the following criteria are met: evidence of an arrangement is obtained, the price is fixed or determinable, the services have been rendered and collectibility is reasonably assured. Contingent or incentive revenues are recognized when the contingency is satisfied and we conclude the amounts are earned. Volume discounts are recorded as a reduction of revenue over the contract period as services are provided. Revenues also include the reimbursement of out-of-pocket expenses. | |
Costs to deliver services are expensed to cost of revenues as incurred with the exception of specific costs directly related to transition or set-up activities for outsourcing contracts. Transition costs are deferred and expensed ratably over the period of service. Generally, deferred amounts are protected in the event of early termination of the contract and are monitored regularly for impairment. Impairment losses are recorded when projected remaining undiscounted operating cash flows of the related contract are not sufficient to recover the carrying amount of the contract assets. Deferred transition costs were approximately $80,254 and $51,615 as of December 31, 2013 and 2012, respectively, and are included in other noncurrent assets in our consolidated statements of financial position. Costs related to warranty provisions are accrued at the time the related revenues are recorded. | |
We may enter into arrangements that consist of multiple elements. Such arrangements may include any combination of our consulting and technology services and outsourcing services. For arrangements with multiple deliverables, we evaluate at the inception of each new arrangement all deliverables to determine whether they represent separate units of accounting. For arrangements with multiple units of accounting, consideration is allocated among the units of accounting, where separable, based on their relative selling price. Relative selling price is determined based on vendor-specific objective evidence, if it exists. Otherwise, third-party evidence of selling price is used, when it is available, and in circumstances when neither vendor-specific objective evidence nor third-party evidence of selling price is available, management’s best estimate of selling price is used. Revenue is recognized for each unit of accounting based on our revenue recognition policy described above. | |
Fixed-price contracts are generally cancelable subject to a specified notice period. All services provided by us through the date of cancellation are due and payable under the contract terms. We issue invoices related to fixed-price contracts based upon achievement of milestones during a project or other contractual terms. Differences between the timing of billing, based on contract milestones or other contractual terms, and the recognition of revenue are recognized as either unbilled receivables or deferred revenue. Estimates of certain fixed-price contracts are subject to adjustment as a project progresses to reflect changes in expected completion costs or efforts. The cumulative impact of any revision in estimates is reflected in the financial reporting period in which the change in estimate becomes known and any anticipated losses on contracts are recognized immediately. | |
Stock-Based Compensation | ' |
Stock-Based Compensation. Stock-based compensation expense for awards of equity instruments to employees and non-employee directors is determined based on the grant-date fair value of those awards. We recognize these compensation costs net of an estimated forfeiture rate over the requisite service period of the award. Forfeitures are estimated on the date of grant and revised if actual or expected forfeiture activity differs materially from original estimates. | |
Foreign Currency | ' |
Foreign Currency. The assets and liabilities of our foreign subsidiaries whose functional currency is not the U.S. dollar are translated into U.S. dollars from local currencies at current exchange rates and revenues and expenses are translated from local currencies at average monthly exchange rates. The resulting translation adjustments are recorded in accumulated other comprehensive income (loss) on the accompanying consolidated statements of financial position. The U.S. dollar is the functional currency for certain foreign subsidiaries who conduct business predominantly in U.S. dollars. For these foreign subsidiaries, non-monetary assets and liabilities are remeasured at historical exchange rates, while monetary assets and liabilities are remeasured at current exchange rates. Foreign currency exchange gains or losses from remeasurement are included in income. | |
Derivative Financial Instruments | ' |
Derivative Financial Instruments. Derivative financial instruments are accounted for in accordance with the authoritative guidance which requires that each derivative instrument be recorded on the balance sheet as either an asset or liability measured at its fair value as of the reporting date. Our derivative financial instruments consist of foreign exchange forward contracts. For derivative financial instruments to qualify for hedge accounting, the following criteria must be met: (1) the hedging instrument must be designated as a hedge; (2) the hedged exposure must be specifically identifiable and expose us to risk; and (3) it is expected that a change in fair value of the derivative financial instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. The authoritative guidance also requires that changes in our derivatives’ fair values be recognized in income unless specific hedge accounting and documentation criteria are met (i.e., the instruments are accounted for as hedges). For items to which hedge accounting is applied, we record the effective portion of our derivative financial instruments that are designated as cash flow hedges in accumulated other comprehensive income (loss) in the accompanying consolidated statements of financial position. Any ineffectiveness or excluded portion of a designated cash flow hedge is recognized in income. | |
Use Of Estimates | ' |
Use of Estimates. The preparation of financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, including the recoverability of tangible and intangible assets, disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the period. On an on-going basis, management reevaluates these estimates. The most significant estimates relate to the recognition of revenue and profits based on the percentage of completion method of accounting for certain fixed-bid contracts, the allowance for doubtful accounts, income taxes, valuation of goodwill and other long-lived assets, valuation of investments and derivative financial instruments, assumptions used in valuing stock-based compensation arrangements, contingencies and litigation. Management bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances. The actual amounts may vary from the estimates used in the preparation of the accompanying consolidated financial statements. | |
Risks And Uncertainties | ' |
Risks and Uncertainties. The majority of our development and delivery centers and employees are located in India. As a result, we may be subject to certain risks associated with international operations, including risks associated with foreign currency exchange rate fluctuations and risks associated with the application and imposition of protective legislation and regulations relating to import and export or otherwise resulting from foreign policy or the variability of foreign economic or political conditions. Additional risks associated with international operations include difficulties in enforcing intellectual property rights, the burdens of complying with a wide variety of foreign laws, potential geo-political and other risks associated with terrorist activities and local or cross border conflicts and potentially adverse tax consequences, tariffs, quotas and other barriers. | |
Concentration Of Credit Risk | ' |
Concentration of Credit Risk. Financial instruments that potentially subject us to significant concentrations of credit risk consist primarily of cash and cash equivalents, time deposits, investments in securities, derivative financial instruments and trade accounts receivable. We maintain our cash and cash equivalents and investments with high credit quality financial institutions, invest in investment-grade debt securities and limit the amount of credit exposure to any one commercial issuer. Trade accounts receivable are dispersed across many customers operating in different industries; therefore, concentration of credit risk is limited. | |
Income Taxes | ' |
Income Taxes. | |
Earnings Per Share, Or EPS | ' |
Earnings Per Share, or EPS. Basic EPS excludes dilution and is computed by dividing earnings available to common stockholders by the weighted-average number of common shares outstanding for the period. Diluted EPS includes all potential dilutive common stock in the weighted average shares outstanding. For purposes of computing diluted earnings per share for the years ended December 31, 2013, 2012 and 2011, respectively, 2,824,000, 4,570,000, and 7,074,000 shares were assumed to have been outstanding related to common share equivalents. We exclude options with exercise prices that are greater than the average market price for the period from the calculation of diluted EPS because their effect would be anti-dilutive. We excluded 3,400 shares in 2013, 19,500 shares in 2012, and 12,500 in 2011 from our diluted EPS calculation. Also, in accordance with the authoritative guidance, we excluded from the calculation of diluted EPS an additional 48,900 shares in 2013, 79,300 shares in 2012, and 38,600 shares in 2011, related to stock based awards whose combined exercise price, unamortized fair value and excess tax benefits were greater in each of those periods than the average market price of our common stock because their effect would be anti-dilutive. We include performance stock unit awards in the dilutive potential common shares when they become contingently issuable per the authoritative guidance and exclude the awards when they are not contingently issuable. | |
Recently Adopted Accounting Pronouncements | ' |
Recently Adopted Accounting Pronouncements. | |
In February 2013, the Financial Accounting Standards Board, or FASB, issued additional guidance related to accumulated other comprehensive income, requiring the presentation of significant amounts reclassified out of accumulated other comprehensive income to the respective line items in the statement of operations. For those amounts required by U.S. GAAP to be reclassified to earnings in their entirety in the same reporting period, this presentation is required either on the statement of operations or in a single footnote. For items that are not required to be reclassified in their entirety to earnings, the presentation requirement can be met by cross-referencing disclosures elsewhere in the footnotes. We adopted this standard on January 1, 2013 and included the required disclosures in Note 7. The adoption of this standard affects financial statement presentation only and has no effect on our financial condition or consolidated results of operations. | |
In December 2011, the FASB issued guidance requiring enhanced disclosures related to the nature of an entity’s rights to offset and any related arrangements associated with its financial instruments and derivative instruments. The new guidance requires the disclosure of the gross amounts subject to rights of set-off, amounts offset in accordance with the accounting standards followed and the related net exposure. In January 2013, the FASB issued an additional update clarifying the scope of this guidance. We adopted this standard on January 1, 2013 and included the required disclosures in Note 11. The adoption of this standard affects financial statement disclosures only and has no effect on our financial condition or consolidated results of operations. | |
New Accounting Pronouncement. | |
In July 2013, the FASB issued new guidance which requires the netting of any unrecognized tax benefits against all available same-jurisdiction deferred tax carryforward assets that would apply if the uncertain tax positions were settled. This standard will be effective for periods beginning on or after January 1, 2014. The adoption of this standard affects financial statement presentation only and will have no effect on our financial condition or consolidated results of operations. |
Business_Combination_Tables
Business Combination (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||||
Schedule Of Purchase Price Allocation | ' | ||||||||||||||||||
We have allocated the purchase price related to these transactions to tangible and intangible assets and liabilities, including goodwill, based on their fair values as follows: | |||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||
Fair Value | Useful Life | Fair Value | Useful Life | Fair Value | Useful Life | ||||||||||||||
Total initial consideration, net of cash acquired(1) | $ | 184,200 | $ | 28,100 | $ | 91,000 | |||||||||||||
Purchase price allocated to: | |||||||||||||||||||
Tax deductible goodwill | — | — | 21,367 | ||||||||||||||||
Non-deductible goodwill | 129,886 | 19,096 | 44,713 | ||||||||||||||||
Customer relationship intangible assets | 58,572 | 5-10 years | 9,400 | 6-12 years | 17,900 | 6-10 years | |||||||||||||
Other intangible assets | 7,192 | 1-5 years | 600 | 5 years | 1,500 | 2-4 years | |||||||||||||
Investments_Tables
Investments (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Investments [Abstract] | ' | |||||||||||||||||||||||
Investments | ' | |||||||||||||||||||||||
Our short-term investments were as follows as of December 31: | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Available-for-sale investment securities: | ||||||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 506,285 | $ | 551,236 | ||||||||||||||||||||
Corporate and other debt securities | 401,800 | 294,556 | ||||||||||||||||||||||
Asset-backed securities | 160,267 | 97,112 | ||||||||||||||||||||||
Municipal debt securities | 115,196 | 47,292 | ||||||||||||||||||||||
Mutual funds | 21,136 | 21,150 | ||||||||||||||||||||||
Total available-for-sale investment securities | 1,204,684 | 1,011,346 | ||||||||||||||||||||||
Time deposits | 329,783 | 282,335 | ||||||||||||||||||||||
Total short-term investments | $ | 1,534,467 | $ | 1,293,681 | ||||||||||||||||||||
Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities Available-For-Sale | ' | |||||||||||||||||||||||
The amortized cost, gross unrealized gains and losses and fair value of available-for-sale investment securities were as follows at December 31: | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 506,094 | $ | 544 | $ | (353 | ) | $ | 506,285 | |||||||||||||||
Corporate and other debt securities | 400,891 | 1,152 | (243 | ) | 401,800 | |||||||||||||||||||
Asset-backed securities | 160,559 | 99 | (391 | ) | 160,267 | |||||||||||||||||||
Municipal debt securities | 114,888 | 348 | (40 | ) | 115,196 | |||||||||||||||||||
Mutual funds | 22,705 | 280 | (1,849 | ) | 21,136 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,205,137 | $ | 2,423 | $ | (2,876 | ) | $ | 1,204,684 | |||||||||||||||
2012 | ||||||||||||||||||||||||
Amortized | Unrealized | Unrealized | Fair | |||||||||||||||||||||
Cost | Gains | Losses | Value | |||||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 550,317 | $ | 972 | $ | (53 | ) | $ | 551,236 | |||||||||||||||
Corporate and other debt securities | 292,736 | 1,842 | (22 | ) | 294,556 | |||||||||||||||||||
Asset-backed securities | 97,004 | 237 | (129 | ) | 97,112 | |||||||||||||||||||
Municipal debt securities | 47,266 | 93 | (67 | ) | 47,292 | |||||||||||||||||||
Mutual funds | 21,583 | — | (433 | ) | 21,150 | |||||||||||||||||||
Total available-for-sale investment securities | $ | 1,008,906 | $ | 3,144 | $ | (704 | ) | $ | 1,011,346 | |||||||||||||||
Available-For-Sale Securities In A Continuous Unrealized Loss Position | ' | |||||||||||||||||||||||
The fair value and related unrealized losses of available-for-sale investment securities in a continuous unrealized loss position for less than 12 months and for 12 months or longer were as follows as of December 31: | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 221,548 | $ | (353 | ) | $ | — | $ | — | $ | 221,548 | $ | (353 | ) | ||||||||||
Corporate and other debt securities | 106,485 | (243 | ) | — | — | 106,485 | (243 | ) | ||||||||||||||||
Asset-backed securities | 84,051 | (333 | ) | 5,048 | (58 | ) | 89,099 | (391 | ) | |||||||||||||||
Municipal debt securities | 10,702 | (34 | ) | 1,019 | (6 | ) | 11,721 | (40 | ) | |||||||||||||||
Mutual funds | — | — | 20,183 | (1,849 | ) | 20,183 | (1,849 | ) | ||||||||||||||||
Total | $ | 422,786 | $ | (963 | ) | $ | 26,250 | $ | (1,913 | ) | $ | 449,036 | $ | (2,876 | ) | |||||||||
2012 | ||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||
Fair | Unrealized | Fair | Unrealized | Fair | Unrealized | |||||||||||||||||||
Value | Losses | Value | Losses | Value | Losses | |||||||||||||||||||
U.S. Treasury and agency debt securities | $ | 120,118 | $ | (53 | ) | $ | — | $ | — | $ | 120,118 | $ | (53 | ) | ||||||||||
Corporate and other debt securities | 25,662 | (21 | ) | 699 | (1 | ) | 26,361 | (22 | ) | |||||||||||||||
Asset-backed securities | 27,180 | (93 | ) | 1,499 | (36 | ) | 28,679 | (129 | ) | |||||||||||||||
Municipal debt securities | 7,908 | (32 | ) | 696 | (35 | ) | 8,604 | (67 | ) | |||||||||||||||
Mutual funds | 21,150 | (433 | ) | — | — | 21,150 | (433 | ) | ||||||||||||||||
Total | $ | 202,018 | $ | (632 | ) | $ | 2,894 | $ | (72 | ) | $ | 204,912 | $ | (704 | ) | |||||||||
Contractual Maturities Of Investments In Debt Securities Available-For-Sale | ' | |||||||||||||||||||||||
The contractual maturities of our fixed income available-for-sale investment securities as of December 31, 2013 are set forth in the following table: | ||||||||||||||||||||||||
Amortized | Fair | |||||||||||||||||||||||
Cost | Value | |||||||||||||||||||||||
Due within one year | $ | 198,105 | $ | 198,312 | ||||||||||||||||||||
Due after one year up to two years | 358,174 | 358,990 | ||||||||||||||||||||||
Due after two years up to three years | 415,555 | 415,896 | ||||||||||||||||||||||
Due after three years up to four years | 50,039 | 50,083 | ||||||||||||||||||||||
Asset-backed securities | 160,559 | 160,267 | ||||||||||||||||||||||
Fixed income available-for-sale investment securities | $ | 1,182,432 | $ | 1,183,548 | ||||||||||||||||||||
Gross Gains (Losses) Realized On Sales, Maturities And Other Securities Transactions Related To Investment Securities | ' | |||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities and the gross gains and losses that have been included in earnings as a result of those sales were as follows: | ||||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||||
Proceeds from sales of available-for-sale investment securities | $ | 1,119,822 | $ | 697,406 | $ | 652,992 | ||||||||||||||||||
Gross gains | $ | 1,951 | $ | 2,410 | $ | 3,102 | ||||||||||||||||||
Gross losses | (554 | ) | (402 | ) | (785 | ) | ||||||||||||||||||
Net realized gains on sales of available-for-sale investment securities | $ | 1,397 | $ | 2,008 | $ | 2,317 | ||||||||||||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 12 Months Ended | ||||||||||
Dec. 31, 2013 | |||||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||||
Schedule of property and equipment | ' | ||||||||||
Property and equipment were as follows as of December 31: | |||||||||||
Estimated Useful Life (Years) | 2013 | 2012 | |||||||||
Buildings | 30 | $ | 444,955 | $ | 423,340 | ||||||
Computer equipment and software | 3 | 426,527 | 352,147 | ||||||||
Furniture and equipment | 5 – 9 | 273,815 | 240,988 | ||||||||
Land | 22,644 | 20,396 | |||||||||
Leasehold land | lease term | 60,306 | 60,306 | ||||||||
Capital work-in-progress | 360,578 | 256,272 | |||||||||
Leasehold improvements | Shorter of the lease term or | 211,675 | 191,829 | ||||||||
the life of the leased asset | |||||||||||
Sub-total | 1,800,500 | 1,545,278 | |||||||||
Accumulated depreciation and amortization | (719,336 | ) | (573,792 | ) | |||||||
Property and equipment, net | $ | 1,081,164 | $ | 971,486 | |||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets, net (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||
Schedule Of Goodwill | ' | ||||||||||||
Changes in goodwill were as follows for the years ended December 31: | |||||||||||||
2013 | 2012 | ||||||||||||
Balance, beginning of year | $ | 309,185 | $ | 288,772 | |||||||||
Business combinations | 129,886 | 19,096 | |||||||||||
Cumulative translation adjustments | 5,165 | 1,317 | |||||||||||
Balance, end of year | $ | 444,236 | $ | 309,185 | |||||||||
Schedule Of Goodwill Allocation By Reportable Segments | ' | ||||||||||||
Goodwill has been allocated to our reportable segments as follows as of December 31: | |||||||||||||
2013 | 2012 | ||||||||||||
Financial Services | $ | 208,588 | $ | 137,677 | |||||||||
Healthcare | 107,409 | 78,977 | |||||||||||
Manufacturing/Retail/Logistics | 71,644 | 48,304 | |||||||||||
Other | 56,595 | 44,227 | |||||||||||
Total goodwill | $ | 444,236 | $ | 309,185 | |||||||||
Schedule Of Components For Intangible Assets | ' | ||||||||||||
Components of intangible assets were as follows as of December 31: | |||||||||||||
2013 | |||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||
Amount | Amortization | Amount | |||||||||||
Customer relationships | $ | 203,543 | $ | (88,159 | ) | $ | 115,384 | ||||||
Developed technology | 4,250 | (2,994 | ) | 1,256 | |||||||||
Other | 21,438 | (6,804 | ) | 14,634 | |||||||||
Total intangible assets | $ | 229,231 | $ | (97,957 | ) | $ | 131,274 | ||||||
2012 | |||||||||||||
Gross Carrying | Accumulated | Net Carrying | |||||||||||
Amount | Amortization | Amount | |||||||||||
Customer relationships | $ | 142,653 | $ | (67,058 | ) | $ | 75,595 | ||||||
Developed technology | 4,222 | (2,204 | ) | 2,018 | |||||||||
Other | 13,921 | (4,059 | ) | 9,862 | |||||||||
Total intangible assets | $ | 160,796 | $ | (73,321 | ) | $ | 87,475 | ||||||
Schedule Of Estimated Amortization Expense | ' | ||||||||||||
Estimated amortization expense related to our existing intangible assets for the next five years are as follows: | |||||||||||||
Year | Amount | ||||||||||||
2014 | $ | 26,779 | |||||||||||
2015 | 21,308 | ||||||||||||
2016 | 19,635 | ||||||||||||
2017 | 16,934 | ||||||||||||
2018 | 11,606 | ||||||||||||
Accrued_Expenses_and_Other_Cur1
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Expenses And Other Current Liabilities [Abstract] | ' | |||||||
Accrued Expenses And Other Current Liabilities | ' | |||||||
Accrued expenses and other current liabilities were as follows as of December 31: | ||||||||
2013 | 2012 | |||||||
Compensation and benefits | $ | 894,986 | $ | 661,816 | ||||
Income taxes | 24,312 | 29,570 | ||||||
Professional fees | 45,453 | 35,366 | ||||||
Travel and entertainment | 29,645 | 26,417 | ||||||
Customer volume incentives | 170,669 | 142,945 | ||||||
Derivative financial instruments | 191,584 | 130,923 | ||||||
Deferred income taxes | — | 454 | ||||||
Other | 121,572 | 91,436 | ||||||
Total accrued expenses and other current liabilities | $ | 1,478,221 | $ | 1,118,927 | ||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ' | |||||||||||||||||||||||
Schedule Of Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the year ended December 31, 2013: | ||||||||||||||||||||||||
2013 | ||||||||||||||||||||||||
Before Tax | Tax | Net of Tax | ||||||||||||||||||||||
Amount | Effect | Amount | ||||||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | 11,572 | $ | — | $ | 11,572 | ||||||||||||||||||
Change in foreign currency translation adjustments | 12,461 | — | 12,461 | |||||||||||||||||||||
Ending balance | $ | 24,033 | $ | — | $ | 24,033 | ||||||||||||||||||
Unrealized gains (losses) on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | 2,440 | $ | (885 | ) | $ | 1,555 | |||||||||||||||||
Unrealized (losses) arising during the period | (1,638 | ) | 582 | (1,056 | ) | |||||||||||||||||||
Reclassification of (gains) to Other, net | (1,255 | ) | 457 | (798 | ) | |||||||||||||||||||
Net change | (2,893 | ) | 1,039 | (1,854 | ) | |||||||||||||||||||
Ending balance | $ | (453 | ) | $ | 154 | $ | (299 | ) | ||||||||||||||||
Unrealized (losses) on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | ||||||||||||||||
Unrealized (losses) arising during the period | (221,275 | ) | 36,248 | (185,027 | ) | |||||||||||||||||||
Reclassifications of losses to: | ||||||||||||||||||||||||
Cost of revenues | 135,044 | (20,839 | ) | 114,205 | ||||||||||||||||||||
Selling, general and administrative expenses | 27,950 | (4,311 | ) | 23,639 | ||||||||||||||||||||
Net change | (58,281 | ) | 11,098 | (47,183 | ) | |||||||||||||||||||
Ending balance | $ | (354,876 | ) | $ | 54,883 | $ | (299,993 | ) | ||||||||||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | ||||||||||||||||
Other comprehensive income (loss) | (48,713 | ) | 12,137 | (36,576 | ) | |||||||||||||||||||
Ending balance | $ | (331,296 | ) | $ | 55,037 | $ | (276,259 | ) | ||||||||||||||||
Changes in accumulated other comprehensive income (loss) by component were as follows for the years ended December 31, 2012 and 2011: | ||||||||||||||||||||||||
2012 | 2011 | |||||||||||||||||||||||
Before Tax | Tax | Net of Tax | Before Tax | Tax | Net of Tax | |||||||||||||||||||
Amount | Effect | Amount | Amount | Effect | Amount | |||||||||||||||||||
Foreign currency translation adjustments: | ||||||||||||||||||||||||
Beginning balance | $ | (3,561 | ) | $ | — | $ | (3,561 | ) | $ | 4,278 | $ | — | $ | 4,278 | ||||||||||
Change in foreign currency translation adjustments | 15,133 | — | 15,133 | (7,839 | ) | — | (7,839 | ) | ||||||||||||||||
Ending balance | $ | 11,572 | $ | — | $ | 11,572 | $ | (3,561 | ) | $ | — | $ | (3,561 | ) | ||||||||||
Unrealized gains on available-for-sale investment securities: | ||||||||||||||||||||||||
Beginning balance | $ | 1,986 | $ | (780 | ) | $ | 1,206 | $ | 1,005 | $ | (408 | ) | $ | 597 | ||||||||||
Unrealized gains arising during the period | 1,970 | (727 | ) | 1,243 | 2,845 | (1,115 | ) | 1,730 | ||||||||||||||||
Reclassification of (gains) to Other, net | (1,516 | ) | 622 | (894 | ) | (1,864 | ) | 743 | (1,121 | ) | ||||||||||||||
Net change | 454 | (105 | ) | 349 | 981 | (372 | ) | 609 | ||||||||||||||||
Ending balance | $ | 2,440 | $ | (885 | ) | $ | 1,555 | $ | 1,986 | $ | (780 | ) | $ | 1,206 | ||||||||||
Unrealized (losses) gains on cash flow hedges: | ||||||||||||||||||||||||
Beginning balance | $ | (385,640 | ) | $ | 62,601 | $ | (323,039 | ) | $ | 32,339 | $ | (1,616 | ) | $ | 30,723 | |||||||||
Unrealized (losses) arising during the period | (7,065 | ) | (3,548 | ) | (10,613 | ) | (399,205 | ) | 59,652 | (339,553 | ) | |||||||||||||
Reclassifications of losses (gains) to: | ||||||||||||||||||||||||
Cost of revenues | 79,335 | (12,601 | ) | 66,734 | (15,294 | ) | 3,719 | (11,575 | ) | |||||||||||||||
Selling, general and administrative expenses | 16,775 | (2,667 | ) | 14,108 | (3,480 | ) | 846 | (2,634 | ) | |||||||||||||||
Net change | 89,045 | (18,816 | ) | 70,229 | (417,979 | ) | 64,217 | (353,762 | ) | |||||||||||||||
Ending balance | $ | (296,595 | ) | $ | 43,785 | $ | (252,810 | ) | $ | (385,640 | ) | $ | 62,601 | $ | (323,039 | ) | ||||||||
Accumulated other comprehensive income (loss): | ||||||||||||||||||||||||
Beginning balance | $ | (387,215 | ) | $ | 61,821 | $ | (325,394 | ) | $ | 37,622 | $ | (2,024 | ) | $ | 35,598 | |||||||||
Other comprehensive income (loss) | 104,632 | (18,921 | ) | 85,711 | (424,837 | ) | 63,845 | (360,992 | ) | |||||||||||||||
Ending balance | $ | (282,583 | ) | $ | 42,900 | $ | (239,683 | ) | $ | (387,215 | ) | $ | 61,821 | $ | (325,394 | ) | ||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||
Income Tax Disclosure [Abstract] | ' | |||||||||||||||||||||
Schedule Of Income Before Provision For Income Tax | ' | |||||||||||||||||||||
Income before provision for income taxes shown below is based on the geographic location to which such income is attributed for years ended December 31: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
United States | $ | 540,738 | $ | 381,940 | $ | 344,143 | ||||||||||||||||
Foreign | 1,147,179 | 1,005,656 | 825,006 | |||||||||||||||||||
Income before provision for income taxes | $ | 1,687,917 | $ | 1,387,596 | $ | 1,169,149 | ||||||||||||||||
Schedule Of Components Of Provision For Income Taxes | ' | |||||||||||||||||||||
The provision for income taxes consists of the following components for the years ended December 31: | ||||||||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||||||||
Current: | ||||||||||||||||||||||
Federal and state | $ | 269,974 | $ | 265,826 | $ | 120,441 | ||||||||||||||||
Foreign | 277,559 | 188,415 | 173,689 | |||||||||||||||||||
Total current | 547,533 | 454,241 | 294,130 | |||||||||||||||||||
Deferred: | ||||||||||||||||||||||
Federal and state | (37,085 | ) | (99,649 | ) | 26,549 | |||||||||||||||||
Foreign | (51,109 | ) | (18,259 | ) | (35,148 | ) | ||||||||||||||||
Total deferred | (88,194 | ) | (117,908 | ) | (8,599 | ) | ||||||||||||||||
Total provision for income taxes | $ | 459,339 | $ | 336,333 | $ | 285,531 | ||||||||||||||||
Reconciliation Between Effective Income Tax Rate and U.S. Federal Statutory Rate | ' | |||||||||||||||||||||
The reconciliation between our effective income tax rate and the U.S. federal statutory rate were as follows for the years ended December 31: | ||||||||||||||||||||||
2013 | % | 2012 | % | 2011 | % | |||||||||||||||||
Tax expense, at U.S. federal statutory rate | $ | 590,771 | 35 | $ | 485,659 | 35 | $ | 409,202 | 35 | |||||||||||||
State and local income taxes, net of federal benefit | 33,147 | 2 | 24,032 | 1.7 | 20,373 | 1.7 | ||||||||||||||||
Non-taxable income for Indian tax purposes | (146,326 | ) | (8.7 | ) | (151,789 | ) | (10.9 | ) | (125,708 | ) | (10.8 | ) | ||||||||||
Rate differential on foreign earnings | (24,606 | ) | (1.5 | ) | (22,126 | ) | (1.6 | ) | (26,030 | ) | (2.2 | ) | ||||||||||
Other | 6,353 | 0.4 | 557 | 0 | 7,694 | 0.7 | ||||||||||||||||
Total provision for income taxes | $ | 459,339 | 27.2 | $ | 336,333 | 24.2 | $ | 285,531 | 24.4 | |||||||||||||
Schedule Of Deferred Tax Assets and Liabilities | ' | |||||||||||||||||||||
The significant components of deferred income tax assets and liabilities recorded on the consolidated statements of financial position were as follows as of December 31: | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Deferred income tax assets: | ||||||||||||||||||||||
Net operating losses | $ | 8,831 | $ | 10,911 | ||||||||||||||||||
Revenue recognition | 34,368 | 31,628 | ||||||||||||||||||||
Compensation and benefits | 132,134 | 99,110 | ||||||||||||||||||||
Stock-based compensation | 23,202 | 26,993 | ||||||||||||||||||||
Minimum alternative tax (MAT) and other credits | 217,099 | 178,244 | ||||||||||||||||||||
Depreciation and amortization | 4,720 | — | ||||||||||||||||||||
Other accrued expenses | 70,193 | 61,095 | ||||||||||||||||||||
Other | 10,170 | 1,321 | ||||||||||||||||||||
500,717 | 409,302 | |||||||||||||||||||||
Less valuation allowance | (5,659 | ) | (6,288 | ) | ||||||||||||||||||
Deferred income tax assets, net | 495,058 | 403,014 | ||||||||||||||||||||
Deferred income tax liabilities: | ||||||||||||||||||||||
Undistributed Indian earnings | — | 5,601 | ||||||||||||||||||||
Depreciation and amortization | — | 832 | ||||||||||||||||||||
Intangible assets | 38,653 | 19,094 | ||||||||||||||||||||
Deferred income tax liabilities | 38,653 | 25,527 | ||||||||||||||||||||
Net deferred income tax assets | $ | 456,405 | $ | 377,487 | ||||||||||||||||||
Summary Of Changes in Unrecognized Tax Benefits | ' | |||||||||||||||||||||
Changes in unrecognized income tax benefits were as follows for the years ended December 31: | ||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||
Balance, beginning of year | $ | 92,721 | $ | 56,526 | ||||||||||||||||||
Additions based on tax positions related to the current year | 12,982 | 37,270 | ||||||||||||||||||||
Additions for tax positions of prior years | 14,854 | 7,847 | ||||||||||||||||||||
Additions for tax positions of acquired subsidiaries | — | 88 | ||||||||||||||||||||
Reductions for tax positions due to lapse of statutes of limitations | (4,353 | ) | (8,816 | ) | ||||||||||||||||||
Reductions for tax positions of prior years | (10,199 | ) | — | |||||||||||||||||||
Settlements | — | — | ||||||||||||||||||||
Foreign currency exchange movement | (9,395 | ) | (194 | ) | ||||||||||||||||||
Balance, end of year | $ | 96,610 | $ | 92,721 | ||||||||||||||||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Fair Value Disclosures [Abstract] | ' | |||||||||||||||
Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis | ' | |||||||||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2013: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 694,416 | $ | — | $ | — | $ | 694,416 | ||||||||
Time deposits | 128,654 | 128,654 | ||||||||||||||
Commercial paper | — | 22,000 | 22,000 | |||||||||||||
Total cash equivalents | 694,416 | 150,654 | — | 845,070 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 329,783 | — | 329,783 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 423,051 | 83,234 | — | 506,285 | ||||||||||||
Corporate and other debt securities | — | 401,800 | — | 401,800 | ||||||||||||
Asset-backed securities | — | 160,267 | — | 160,267 | ||||||||||||
Municipal debt securities | — | 115,196 | — | 115,196 | ||||||||||||
Mutual funds | — | 21,136 | — | 21,136 | ||||||||||||
Total available-for-sale investment securities | 423,051 | 781,633 | — | 1,204,684 | ||||||||||||
Total short-term investments | 423,051 | 1,111,416 | — | 1,534,467 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 11,105 | — | 11,105 | ||||||||||||
Accrued expenses and other current liabilities | — | (191,584 | ) | — | (191,584 | ) | ||||||||||
Other noncurrent liabilities | — | (164,490 | ) | — | (164,490 | ) | ||||||||||
Total | $ | 1,117,467 | $ | 917,101 | $ | — | $ | 2,034,568 | ||||||||
The following table summarizes our financial assets and (liabilities) measured at fair value on a recurring basis as of December 31, 2012: | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Cash equivalents: | ||||||||||||||||
Money market funds | $ | 411,512 | $ | — | $ | — | $ | 411,512 | ||||||||
Time deposits | — | 300,770 | — | 300,770 | ||||||||||||
Commercial paper | — | 7,918 | — | 7,918 | ||||||||||||
Total cash equivalents | 411,512 | 308,688 | — | 720,200 | ||||||||||||
Short-term investments: | ||||||||||||||||
Time deposits | — | 282,335 | — | 282,335 | ||||||||||||
Available-for-sale investment securities: | ||||||||||||||||
U.S. Treasury and agency debt securities | 392,067 | 159,169 | — | 551,236 | ||||||||||||
Corporate and other debt securities | — | 294,556 | — | 294,556 | ||||||||||||
Asset-backed securities | — | 97,112 | — | 97,112 | ||||||||||||
Municipal debt securities | — | 47,292 | — | 47,292 | ||||||||||||
Mutual funds | — | 21,150 | — | 21,150 | ||||||||||||
Total available-for-sale investment securities | 392,067 | 619,279 | — | 1,011,346 | ||||||||||||
Total short-term investments | 392,067 | 901,614 | — | 1,293,681 | ||||||||||||
Derivative financial instruments - foreign exchange forward contracts: | ||||||||||||||||
Other current assets | — | 1,344 | — | 1,344 | ||||||||||||
Accrued expenses and other current liabilities | — | (130,923 | ) | — | (130,923 | ) | ||||||||||
Other noncurrent assets | — | 3,436 | — | 3,436 | ||||||||||||
Other noncurrent liabilities | — | (175,628 | ) | — | (175,628 | ) | ||||||||||
Total | $ | 803,579 | $ | 908,531 | $ | — | $ | 1,712,110 | ||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | ||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||
Location And Fair Values Of Derivative Financial Instruments In Our Condensed Consolidated Statements Of Financial Position | ' | ||||||||||||||||||
The following table provides information on the location and fair values of derivative financial instruments included in our consolidated statement of financial position as of: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
Designation of Derivatives | Location on Statement of | Assets | Liabilities | Assets | Liabilities | ||||||||||||||
Financial Position | |||||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | $ | — | $ | — | $ | 1,230 | $ | — | ||||||||||
Other noncurrent assets | — | — | 3,436 | — | |||||||||||||||
Accrued expenses and other current liabilities | — | 190,386 | — | 125,633 | |||||||||||||||
Other noncurrent liabilities | — | 164,490 | — | 175,628 | |||||||||||||||
Total | — | 354,876 | 4,666 | 301,261 | |||||||||||||||
Other Derivatives – Not designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other current assets | 11,105 | — | 114 | — | ||||||||||||||
Accrued expenses and other current liabilities | — | 1,198 | — | 5,290 | |||||||||||||||
Total | 11,105 | 1,198 | 114 | 5,290 | |||||||||||||||
Total | $ | 11,105 | $ | 356,074 | $ | 4,780 | $ | 306,551 | |||||||||||
Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||
The notional value of our outstanding contracts by year of maturity and the net unrealized (loss) included in accumulated other comprehensive income (loss) for such contracts were as follows as of: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
2013 | $ | — | $ | 1,253,000 | |||||||||||||||
2014 | 1,200,000 | 1,200,000 | |||||||||||||||||
2015 | 900,000 | 780,000 | |||||||||||||||||
2016 | 240,000 | 120,000 | |||||||||||||||||
Total notional value of contracts outstanding | $ | 2,340,000 | $ | 3,353,000 | |||||||||||||||
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | $ | (299,993 | ) | $ | (252,810 | ) | |||||||||||||
Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivative Financial Instruments | ' | ||||||||||||||||||
The following table provides information on the location and amounts of pre-tax (losses) on our cash flow hedges for the year ended December 31: | |||||||||||||||||||
(Increase) Decrease in | Location of Net Derivative | Net (Loss) Reclassified | |||||||||||||||||
Derivative | (Losses) Reclassified | from Accumulated Other | |||||||||||||||||
Losses Recognized | from Accumulated Other | Comprehensive Income (Loss) | |||||||||||||||||
in Accumulated Other | Comprehensive Income (Loss) | into Income | |||||||||||||||||
Comprehensive Income (Loss) | into Income | (effective portion) | |||||||||||||||||
(effective portion) | (effective portion) | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Cash Flow Hedges – Designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | $ | (221,275 | ) | $ | (7,065 | ) | Cost of revenues | $ | (135,044 | ) | $ | (79,335 | ) | ||||||
Selling, general and administrative expenses | (27,950 | ) | (16,775 | ) | |||||||||||||||
Total | $ | (162,994 | ) | $ | (96,110 | ) | |||||||||||||
Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments | ' | ||||||||||||||||||
Additional information related to our outstanding contracts is as follows as of: | |||||||||||||||||||
31-Dec-13 | 31-Dec-12 | ||||||||||||||||||
Notional | Market Value | Notional | Market Value | ||||||||||||||||
Contracts to purchase U.S. dollars and sell: | |||||||||||||||||||
Indian rupees | $ | 171,802 | $ | 11,105 | $ | 178,571 | $ | (5,290 | ) | ||||||||||
Euros | 55,500 | (412 | ) | 30,000 | 114 | ||||||||||||||
British pounds | 52,000 | (786 | ) | — | |||||||||||||||
Total | $ | 279,302 | $ | 9,907 | $ | 208,571 | $ | (5,176 | ) | ||||||||||
Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges | ' | ||||||||||||||||||
The following table provides information on the location and amounts of realized and unrealized pre-tax gains and losses on our other derivative financial instruments for the years ended December 31, 2013 and 2012: | |||||||||||||||||||
Location of Net Gains (Losses) | Amount of Net Gains (Losses) | ||||||||||||||||||
on Derivative Instruments | on Derivative Instruments | ||||||||||||||||||
2013 | 2012 | ||||||||||||||||||
Other Derivatives – Not designated as hedging instruments | |||||||||||||||||||
Foreign exchange forward contracts | Other, net | $ | 14,084 | $ | (8,270 | ) | |||||||||||||
StockBased_Compensation_Plans_
Stock-Based Compensation Plans (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation [Abstract] | ' | |||||||||||||
Schedule Of Allocation Of Total Stock-Based Compensation Expense | ' | |||||||||||||
The allocation of total stock-based compensation expense between cost of revenues and selling, general and administrative expenses as well as the related income tax benefit were as follows for the three years ended December 31: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Cost of revenues | $ | 19,107 | $ | 16,773 | $ | 15,257 | ||||||||
Selling, general and administrative expenses | 99,693 | 90,582 | 74,975 | |||||||||||
Total stock-based compensation expense | $ | 118,800 | $ | 107,355 | $ | 90,232 | ||||||||
Income tax benefit | $ | 29,387 | $ | 26,206 | $ | 21,510 | ||||||||
Schedule Of Assumptions Used To Calculate The Fair Value Of Option Grants | ' | |||||||||||||
The fair values of option grants, including the Purchase Plan, were estimated at the date of grant during the years ended December 31, 2013, 2012, and 2011 based upon the following assumptions and were as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Dividend yield | 0 | % | 0 | % | 0 | % | ||||||||
Weighted average volatility factor: | ||||||||||||||
Stock options | 33.47 | % | 36.71 | % | 31.87 | % | ||||||||
Purchase Plan | 29.17 | % | 32.31 | % | 34.66 | % | ||||||||
Weighted average expected life (in years): | ||||||||||||||
Stock options | 3.82 | 3.69 | 3.54 | |||||||||||
Purchase Plan | 0.25 | 0.25 | 0.25 | |||||||||||
Weighted average risk-free interest rate: | ||||||||||||||
Stock options | 0.73 | % | 0.43 | % | 1.06 | % | ||||||||
Purchase Plan | 0.05 | % | 0.06 | % | 0.05 | % | ||||||||
Weighted average grant date fair value: | ||||||||||||||
Stock options | $ | 17.3 | $ | 16.77 | $ | 18.85 | ||||||||
Purchase Plan | $ | 11.74 | $ | 11.13 | $ | 12.21 | ||||||||
Summary Of Activity For Stock Options | ' | |||||||||||||
A summary of the activity for stock options granted under our stock-based compensation plans as of December 31, 2013 and changes during the year then ended is presented below: | ||||||||||||||
Number of | Weighted | Weighted | Aggregate | |||||||||||
Options | Average Exercise | Average | Interinsic | |||||||||||
Price | Remaining Life | Value | ||||||||||||
(in dollars) | (in years) | (in thousands) | ||||||||||||
Outstanding at January 1, 2013 | 5,801,346 | $ | 29.52 | |||||||||||
Granted | 52,020 | 64.82 | ||||||||||||
Exercised | (2,409,290 | ) | 25.54 | |||||||||||
Cancelled | — | — | ||||||||||||
Expired | (8,215 | ) | 22.56 | |||||||||||
Outstanding at December 31, 2013 | 3,435,861 | $ | 32.86 | 3.08 | $ | 234,065 | ||||||||
Vested and expected to vest at December 31, 2013 | 3,426,185 | $ | 32.77 | 3.06 | $ | 233,696 | ||||||||
Exercisable at December 31, 2013 | 3,338,841 | $ | 32 | 2.99 | $ | 230,324 | ||||||||
Summary Of The Activity For Performance Stock Units | ' | |||||||||||||
A summary of the activity for performance stock units granted under our stock-based compensation plans as of December 31, 2013 and changes during the year then ended is presented below. The presentation reflects the number of performance stock units at the maximum performance milestones. | ||||||||||||||
Number of | Weighted Average | |||||||||||||
Units | Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2013 | 1,771,294 | $ | 66.84 | |||||||||||
Granted | 818,846 | 93.84 | ||||||||||||
Vested | (578,559 | ) | 67.35 | |||||||||||
Forfeited | (73,040 | ) | 67.42 | |||||||||||
Reduction due to the achievement of lower than maximum performance milestones | (64,730 | ) | 66.69 | |||||||||||
Unvested at December 31, 2013 | 1,873,811 | $ | 78.46 | |||||||||||
Summary Of The Activity For Restricted Stock Units | ' | |||||||||||||
A summary of the activity for restricted stock units granted under our stock-based compensation plans as of December 31, 2013 and changes during the year then ended is presented below: | ||||||||||||||
Number of | Weighted | |||||||||||||
Units | Average Grant Date | |||||||||||||
Fair Value | ||||||||||||||
(in dollars) | ||||||||||||||
Unvested at January 1, 2013 | 1,784,735 | $ | 69.39 | |||||||||||
Granted | 1,079,962 | 84.11 | ||||||||||||
Vested | (945,020 | ) | 70.18 | |||||||||||
Forfeited | (121,273 | ) | 69.62 | |||||||||||
Unvested at December 31, 2013 | 1,798,404 | $ | 77.8 | |||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Schedule of future minimum rental payments under non-cancelable operating leases | ' | |||
Future minimum rental payments on our operating leases as of December 31, 2013 are as follows: | ||||
2014 | $ | 135,745 | ||
2015 | 119,396 | |||
2016 | 96,772 | |||
2017 | 78,564 | |||
2018 | 55,426 | |||
Thereafter | 187,434 | |||
Total minimum lease payments | $ | 673,337 | ||
Segment_Information_Tables
Segment Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | ' | |||||||||||
Revenues From External Customers And Segment Operating Profit | ' | |||||||||||
Revenues from external customers and segment operating profit, before unallocated expenses, for the Financial Services, Healthcare, Manufacturing/Retail/Logistics, and Other reportable segments were as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Revenues: | ||||||||||||
Financial Services | $ | 3,717,573 | $ | 3,035,447 | $ | 2,518,422 | ||||||
Healthcare | 2,264,826 | 1,934,898 | 1,622,157 | |||||||||
Manufacturing/Retail/Logistics | 1,868,305 | 1,498,668 | 1,197,472 | |||||||||
Other | 992,485 | 877,459 | 783,105 | |||||||||
Total revenue | $ | 8,843,189 | $ | 7,346,472 | $ | 6,121,156 | ||||||
Segment Operating Profit: | ||||||||||||
Financial Services | $ | 1,212,099 | $ | 998,339 | $ | 872,267 | ||||||
Healthcare | 829,916 | 724,454 | 625,052 | |||||||||
Manufacturing/Retail/Logistics | 630,250 | 527,970 | 440,416 | |||||||||
Other | 318,357 | 288,052 | 254,145 | |||||||||
Total segment operating profit | 2,990,622 | 2,538,815 | 2,191,880 | |||||||||
Less: unallocated costs(1) | 1,312,712 | 1,177,319 | 1,055,412 | |||||||||
Income from operations | $ | 1,677,910 | $ | 1,361,496 | $ | 1,136,468 | ||||||
____________ | ||||||||||||
-1 | Includes $118,800, $107,355 and $90,232 of stock-based compensation expense for the years ended 2013, 2012 and 2011, respectively. | |||||||||||
Revenues And Long-Lived Assets By Geographic Area | ' | |||||||||||
Revenue and long-lived assets, by geographic area, were as follows: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Revenues: (1) | ||||||||||||
North America(2) | $ | 6,860,067 | $ | 5,836,258 | $ | 4,802,958 | ||||||
Europe(3) | 1,579,205 | 1,195,490 | 1,097,475 | |||||||||
Rest of World(4) | 403,917 | 314,724 | 220,723 | |||||||||
Total | $ | 8,843,189 | $ | 7,346,472 | $ | 6,121,156 | ||||||
2013 | 2012 | 2011 | ||||||||||
Long-lived Assets: (5) | ||||||||||||
North America(2) | $ | 48,352 | $ | 52,149 | $ | 27,387 | ||||||
Europe | 22,707 | 8,696 | 5,232 | |||||||||
Rest of World(4)(6) | 1,010,105 | 910,641 | 725,415 | |||||||||
Total | $ | 1,081,164 | $ | 971,486 | $ | 758,034 | ||||||
_____________ | ||||||||||||
(1) Revenues are attributed to regions based upon customer location. | ||||||||||||
(2) Substantially all relates to operations in the United States. | ||||||||||||
-3 | Includes revenue from operations in the United Kingdom of $942,579, $764,936 and $698,853 for the years ended 2013, 2012, and 2011, respectively. | |||||||||||
(4) Includes our operations in Asia Pacific, the Middle East and Latin America. | ||||||||||||
(5) Long-lived assets include property and equipment, net of accumulated depreciation and amortization. | ||||||||||||
(6) Substantially all of these long-lived assets relate to our operations in India. |
Subsequent_Event_Tables
Subsequent Event (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Subsequent Events [Abstract] | ' | ||||||||||||||||||||||||
Pro forma earnings per share | ' | ||||||||||||||||||||||||
Pro-forma unaudited earnings per share are as follows, giving retroactive effect to the stock split: | |||||||||||||||||||||||||
(in thousands, except per share data) | Year Ended December 31, | ||||||||||||||||||||||||
2013 | 2012 | 2011 | 2013 | 2012 | 2011 | ||||||||||||||||||||
Basic | Diluted | ||||||||||||||||||||||||
Net income | $ | 1,228,578 | $ | 1,051,263 | $ | 883,618 | $ | 1,228,578 | $ | 1,051,263 | $ | 883,618 | |||||||||||||
Weighted average number of common shares outstanding, as reported | 302,007 | 301,291 | 303,277 | 304,831 | 305,861 | 310,351 | |||||||||||||||||||
Weighted average number of common shares outstanding, pro-forma | 604,015 | 602,582 | 606,553 | 609,662 | 611,722 | 620,702 | |||||||||||||||||||
Earnings per share, as reported | $ | 4.07 | $ | 3.49 | $ | 2.91 | $ | 4.03 | $ | 3.44 | $ | 2.85 | |||||||||||||
Earnings per share, pro-forma | $ | 2.03 | $ | 1.74 | $ | 1.46 | $ | 2.02 | $ | 1.72 | $ | 1.42 | |||||||||||||
Quarterly_Financial_Data_Unaud1
Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended | ||||||||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||||||||
Quarterly Financial Data [Abstract] | ' | ||||||||||||||||||||||||||||||||
Summary Of Quarterly Financial Data | ' | ||||||||||||||||||||||||||||||||
Summarized quarterly results for the two years ended December 31, 2013 are as follows: | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
2013 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||||||||||||||
Revenues | $ | 2,020,738 | $ | 2,161,240 | $ | 2,305,723 | $ | 2,355,488 | $ | 8,843,189 | |||||||||||||||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,199,965 | 1,272,013 | 1,382,336 | 1,411,155 | 5,265,469 | ||||||||||||||||||||||||||||
Selling, general and administrative expenses | 413,204 | 420,526 | 443,376 | 450,503 | 1,727,609 | ||||||||||||||||||||||||||||
Depreciation and amortization expense | 41,662 | 41,898 | 42,652 | 45,989 | 172,201 | ||||||||||||||||||||||||||||
Income from operations | 365,907 | 426,803 | 437,359 | 447,841 | 1,677,910 | ||||||||||||||||||||||||||||
Net income | 284,209 | 300,410 | 319,627 | 324,332 | 1,228,578 | ||||||||||||||||||||||||||||
Basic EPS | $ | 0.94 | $ | 1 | $ | 1.06 | $ | 1.07 | $ | 4.07 | |||||||||||||||||||||||
Diluted EPS | $ | 0.93 | $ | 0.99 | $ | 1.05 | $ | 1.06 | $ | 4.03 | |||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
2012 | March 31 | June 30 | September 30 | December 31 | Full Year | ||||||||||||||||||||||||||||
Revenues | $ | 1,711,349 | $ | 1,795,220 | $ | 1,891,688 | $ | 1,948,215 | $ | 7,346,472 | |||||||||||||||||||||||
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 984,520 | 1,030,889 | 1,111,898 | 1,150,934 | 4,278,241 | ||||||||||||||||||||||||||||
Selling, general and administrative expenses | 374,178 | 396,771 | 384,951 | 401,746 | 1,557,646 | ||||||||||||||||||||||||||||
Depreciation and amortization expense | 34,752 | 35,602 | 39,453 | 39,282 | 149,089 | ||||||||||||||||||||||||||||
Income from operations | 317,899 | 331,958 | 355,386 | 356,253 | 1,361,496 | ||||||||||||||||||||||||||||
Net income | 243,651 | 251,932 | 276,901 | 278,779 | 1,051,263 | ||||||||||||||||||||||||||||
Basic EPS | $ | 0.8 | $ | 0.83 | $ | 0.93 | $ | 0.93 | $ | 3.49 | |||||||||||||||||||||||
Diluted EPS | $ | 0.79 | $ | 0.82 | $ | 0.91 | $ | 0.92 | $ | 3.44 | |||||||||||||||||||||||
Pro-forma unaudited quarterly earnings per share for the year ended December 31, 2013, giving retroactive effect to the upcoming stock split described in Note 15, are as follows: | |||||||||||||||||||||||||||||||||
(in thousands, except per share data) | |||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||
2013 | 31-Mar | 30-Jun | 30-Sep | 31-Dec | 31-Mar | 30-Jun | 30-Sep | 31-Dec | |||||||||||||||||||||||||
Basic | Diluted | ||||||||||||||||||||||||||||||||
Net income | $ | 284,209 | $ | 300,410 | $ | 319,627 | $ | 324,332 | $ | 284,209 | $ | 300,410 | $ | 319,627 | $ | 324,332 | |||||||||||||||||
Weighted average number of common shares outstanding, as reported | 301,854 | 301,670 | 301,632 | 302,873 | 305,176 | 304,446 | 304,275 | 305,428 | |||||||||||||||||||||||||
Weighted average number of common shares outstanding, pro-forma | 603,708 | 603,340 | 603,265 | 605,746 | 610,353 | 608,892 | 608,549 | 610,856 | |||||||||||||||||||||||||
Earnings per share, as reported | $ | 0.94 | $ | 1 | $ | 1.06 | $ | 1.07 | $ | 0.93 | $ | 0.99 | $ | 1.05 | $ | 1.06 | |||||||||||||||||
Earnings per share, pro-forma | $ | 0.47 | $ | 0.5 | $ | 0.53 | $ | 0.54 | $ | 0.47 | $ | 0.49 | $ | 0.53 | $ | 0.53 | |||||||||||||||||
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Leasehold for land lease terms, maximum years | '99 years | ' | ' |
Repurchase of common stock authorized amount maximum | $1,500,000 | ' | ' |
Common stock repurchased | 15,721,275 | ' | ' |
Repurchase of common stock amount paid | 998,127 | ' | ' |
Total shares repurchased during period | 582,936 | 532,592 | 504,164 |
Total amount of shares repurchased during period | 47,442 | 34,925 | 35,365 |
Net foreign currency exchange gains (losses) | -41,130 | -20,015 | -8,779 |
Deferred transition costs | $80,254 | $51,615 | ' |
Dilutive effect of shares issuable under stock-based compensation plans | 2,824,000 | 4,570,000 | 7,074,000 |
Stock Compensation Plan [Member] | ' | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 3,400 | 19,500 | 12,500 |
Other antidilutive securities excluded from computation of earnings per share | 48,900 | 79,300 | 38,600 |
Business_Combination_Narrative
Business Combination (Narrative) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
entity | entity | entity | |||
Business Combinations [Abstract] | ' | ' | ' | ||
Number of business combinations | 4 | 3 | 2 | ||
Total consideration, net of cash acquired | $184,200 | $28,100 | [1] | $91,000 | [1] |
Settlement of contingent payment provisions for previous acquisitions | ' | $31,400 | ' | ||
[1] | Includes stock consideration in 2011 |
Business_Combination_Schedule_
Business Combination (Schedule Of Purchase Price Allocation) (Details) (USD $) | 12 Months Ended | ||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Total initial consideration, net of cash acquired | 184,200 | 28,100 | [1] | 91,000 | [1] |
Tax deductible goodwill | 0 | 0 | 21,367 | ||
Non-deductible goodwill | 129,886 | 19,096 | 44,713 | ||
Customer Relationships [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Intangible assets | 58,572 | 9,400 | 17,900 | ||
Other Intangible Assets [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Intangible assets | 7,192 | 600 | 1,500 | ||
Weighted average life of intangible assets | ' | '5 years | ' | ||
Minimum [Member] | Customer Relationships [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Weighted average life of intangible assets | '5 years | '6 years | '6 years | ||
Minimum [Member] | Other Intangible Assets [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Weighted average life of intangible assets | '1 year | ' | '2 years | ||
Maximum [Member] | Customer Relationships [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Weighted average life of intangible assets | '10 years | '12 years | '10 years | ||
Maximum [Member] | Other Intangible Assets [Member] | ' | ' | ' | ||
Business Acquisition [Line Items] | ' | ' | ' | ||
Weighted average life of intangible assets | '5 years | ' | '4 years | ||
[1] | Includes stock consideration in 2011 |
Investments_Investments_Detail
Investments (Investments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale investment securities | $1,204,684 | $1,011,346 |
Time deposits | 329,783 | 282,335 |
Short-term Investments, Total | 1,534,467 | 1,293,681 |
U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale investment securities | 506,285 | 551,236 |
Corporate And Other Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale investment securities | 401,800 | 294,556 |
Asset-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale investment securities | 160,267 | 97,112 |
Municipal Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale investment securities | 115,196 | 47,292 |
Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Available-for-sale investment securities | $21,136 | $21,150 |
Investments_Amortized_Cost_Gro
Investments (Amortized Cost, Gross Unrealized Gains And Losses And Fair Value Of Investment Securities Available-For-Sale) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | $1,205,137 | $1,008,906 |
Unrealized Gains | 2,423 | 3,144 |
Unrealized Losses | -2,876 | -704 |
Fair Value | 1,204,684 | 1,011,346 |
U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 506,094 | 550,317 |
Unrealized Gains | 544 | 972 |
Unrealized Losses | -353 | -53 |
Fair Value | 506,285 | 551,236 |
Corporate And Other Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 400,891 | 292,736 |
Unrealized Gains | 1,152 | 1,842 |
Unrealized Losses | -243 | -22 |
Fair Value | 401,800 | 294,556 |
Asset-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 160,559 | 97,004 |
Unrealized Gains | 99 | 237 |
Unrealized Losses | -391 | -129 |
Fair Value | 160,267 | 97,112 |
Municipal Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 114,888 | 47,266 |
Unrealized Gains | 348 | 93 |
Unrealized Losses | -40 | -67 |
Fair Value | 115,196 | 47,292 |
Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Amortized Cost | 22,705 | 21,583 |
Unrealized Gains | 280 | 0 |
Unrealized Losses | -1,849 | -433 |
Fair Value | $21,136 | $21,150 |
Investments_AvailableForSale_S
Investments (Available-For-Sale Securities In A Continuous Unrealized Loss Position) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value available-for-sale securities Less than 12 Months | $422,786 | $202,018 |
Unrealized Losses available-for-sale securities Less than 12 Months | -963 | -632 |
Fair value available-for-sale securities 12 Months or More | 26,250 | 2,894 |
Unrealized Losses available-for-sale securities 12 Months or More | -1,913 | -72 |
Total Fair Value available-for-sale securities | 449,036 | 204,912 |
Total Unrealized Losses of available-for-sale securities | -2,876 | -704 |
U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value available-for-sale securities Less than 12 Months | 221,548 | 120,118 |
Unrealized Losses available-for-sale securities Less than 12 Months | -353 | -53 |
Fair value available-for-sale securities 12 Months or More | 0 | 0 |
Unrealized Losses available-for-sale securities 12 Months or More | 0 | 0 |
Total Fair Value available-for-sale securities | 221,548 | 120,118 |
Total Unrealized Losses of available-for-sale securities | -353 | -53 |
Corporate And Other Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value available-for-sale securities Less than 12 Months | 106,485 | 25,662 |
Unrealized Losses available-for-sale securities Less than 12 Months | -243 | -21 |
Fair value available-for-sale securities 12 Months or More | 0 | 699 |
Unrealized Losses available-for-sale securities 12 Months or More | 0 | -1 |
Total Fair Value available-for-sale securities | 106,485 | 26,361 |
Total Unrealized Losses of available-for-sale securities | -243 | -22 |
Asset-Backed Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value available-for-sale securities Less than 12 Months | 84,051 | 27,180 |
Unrealized Losses available-for-sale securities Less than 12 Months | -333 | -93 |
Fair value available-for-sale securities 12 Months or More | 5,048 | 1,499 |
Unrealized Losses available-for-sale securities 12 Months or More | -58 | -36 |
Total Fair Value available-for-sale securities | 89,099 | 28,679 |
Total Unrealized Losses of available-for-sale securities | -391 | -129 |
Municipal Debt Securities [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value available-for-sale securities Less than 12 Months | 10,702 | 7,908 |
Unrealized Losses available-for-sale securities Less than 12 Months | -34 | -32 |
Fair value available-for-sale securities 12 Months or More | 1,019 | 696 |
Unrealized Losses available-for-sale securities 12 Months or More | -6 | -35 |
Total Fair Value available-for-sale securities | 11,721 | 8,604 |
Total Unrealized Losses of available-for-sale securities | -40 | -67 |
Mutual Funds [Member] | ' | ' |
Schedule of Available-for-sale Securities [Line Items] | ' | ' |
Fair Value available-for-sale securities Less than 12 Months | 0 | 21,150 |
Unrealized Losses available-for-sale securities Less than 12 Months | 0 | -433 |
Fair value available-for-sale securities 12 Months or More | 20,183 | 0 |
Unrealized Losses available-for-sale securities 12 Months or More | -1,849 | 0 |
Total Fair Value available-for-sale securities | 20,183 | 21,150 |
Total Unrealized Losses of available-for-sale securities | ($1,849) | ($433) |
Investments_Contractual_Maturi
Investments (Contractual Maturities Of Investments In Debt Securities Available-For-Sale) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Amortized Cost | ' |
Due within one year | $198,105 |
Due after one year up to two years | 358,174 |
Due after two years up to three years | 415,555 |
Due after three years up to four years | 50,039 |
Asset-backed securities | 160,559 |
Amortized Cost | 1,182,432 |
Fair Value | ' |
Due within one year | 198,312 |
Due after one year up to two years | 358,990 |
Due after two years up to three years | 415,896 |
Due after three years up to four years | 50,083 |
Asset-backed securities | 160,267 |
Fair Value | $1,183,548 |
Investments_Gross_Gains_Losses
Investments (Gross Gains (Losses) Realized On Sales, Maturities And Other Securities Transactions Related To Investment Securities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Investments [Abstract] | ' | ' | ' |
Proceeds from sales of available-for-sale investment securities | $1,119,822 | $697,406 | $652,992 |
Gross gains | 1,951 | 2,410 | 3,102 |
Gross losses | -554 | -402 | -785 |
Net realized gains on sales of available-for-sale investment securities | $1,397 | $2,008 | $2,317 |
Property_and_Equipment_Net_Nar
Property and Equipment, Net (Narrative) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Depreciation and amortization expense | $45,989 | $42,652 | $41,898 | $41,662 | $39,282 | $39,453 | $35,602 | $34,752 | $172,201 | $149,089 | $117,401 |
Leasehold for land lease terms, maximum years | ' | ' | ' | ' | ' | ' | ' | ' | '99 years | ' | ' |
Property And Equipment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Depreciation and amortization expense | ' | ' | ' | ' | ' | ' | ' | ' | $155,681 | $137,561 | $107,257 |
Property_and_Equipment_Net_Sch
Property and Equipment, Net (Schedule Of Property And Equipment, Net) (Details) (USD $) | 12 Months Ended | |||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Property, Plant and Equipment, Net [Abstract] | ' | ' | ' | |||
Buildings | $444,955 | $423,340 | ' | |||
Computer equipment and software | 426,527 | 352,147 | ' | |||
Furniture and equipment | 273,815 | 240,988 | ' | |||
Land | 22,644 | 20,396 | ' | |||
Leasehold land | 60,306 | 60,306 | ' | |||
Capital work-in-progress | 360,578 | 256,272 | ' | |||
Leasehold improvements | 211,675 | 191,829 | ' | |||
Sub-total | 1,800,500 | 1,545,278 | ' | |||
Accumulated depreciation and amortization | -719,336 | -573,792 | ' | |||
Total | $1,081,164 | [1] | $971,486 | [1] | $758,034 | [1] |
Buildings useful lives, years | '30 years | ' | ' | |||
Computer equipment and software useful lives, years | '3 years | ' | ' | |||
Furniture and equipment useful lives minimum, years | '5 years | ' | ' | |||
Furniture and equipment useful lives maximum, years | '9 years | ' | ' | |||
[1] | Long-lived assets include property and equipment, net of accumulated depreciation and amortization. |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets, net (Schedule Of Goodwill) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill [Roll Forward] | ' | ' |
Goodwill, Beginning Balance | $309,185 | $288,772 |
Business combinations | 129,886 | 19,096 |
Cumulative translation adjustments | 5,165 | 1,317 |
Goodwill, Ending Balance | $444,236 | $309,185 |
Goodwill_and_Intangible_Assets3
Goodwill and Intangible Assets, net (Schedule Of Goodwill Allocation By Reportable Segments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | |||
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $444,236 | $309,185 | $288,772 |
Financial Services [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 208,588 | 137,677 | ' |
Healthcare [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 107,409 | 78,977 | ' |
Manufacturing/Retail/Logistics [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | 71,644 | 48,304 | ' |
Other [Member] | ' | ' | ' |
Goodwill [Line Items] | ' | ' | ' |
Goodwill | $56,595 | $44,227 | ' |
Goodwill_and_Intangible_Assets4
Goodwill and Intangible Assets, net (Schedule Of Components For Intangible Assets) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | $229,231 | $160,796 | ' |
Accumulated amortization | -97,957 | -73,321 | ' |
Net carrying amount | 131,274 | 87,475 | ' |
Amortization of intangibles | 24,249 | 19,027 | 16,918 |
Amortization Expense Recorded As A Reduction Of Revenues | 7,729 | 7,499 | 6,774 |
Customer Relationships [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 203,543 | 142,653 | ' |
Accumulated amortization | -88,159 | -67,058 | ' |
Net carrying amount | 115,384 | 75,595 | ' |
Developed Technology [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 4,250 | 4,222 | ' |
Accumulated amortization | -2,994 | -2,204 | ' |
Net carrying amount | 1,256 | 2,018 | ' |
Other [Member] | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Gross carrying amount | 21,438 | 13,921 | ' |
Accumulated amortization | -6,804 | -4,059 | ' |
Net carrying amount | $14,634 | $9,862 | ' |
Goodwill_and_Intangible_Assets5
Goodwill and Intangible Assets, net (Schedule Of Estimated Amortization Expense) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2014 | $26,779 |
2015 | 21,308 |
2016 | 19,635 |
2017 | 16,934 |
2018 | $11,606 |
Accrued_Expenses_and_Other_Cur2
Accrued Expenses and Other Current Liabilities (Accrued Expenses And Other Current Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Expenses And Other Current Liabilities [Abstract] | ' | ' |
Compensation and benefits | $894,986 | $661,816 |
Income taxes | 24,312 | 29,570 |
Professional fees | 45,453 | 35,366 |
Travel and entertainment | 29,645 | 26,417 |
Customer volume incentives | 170,669 | 142,945 |
Derivative financial instruments | 191,584 | 130,923 |
Deferred income taxes | 0 | 454 |
Other | 121,572 | 91,436 |
Total accrued expenses and other current liabilities | $1,478,221 | $1,118,927 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) (Schedule Of Changes In Accumulated Other Comprehensive Income (Loss) By Component) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Foreign Currency Translation Adjustment, Before Taxes [Roll Forward] | ' | ' | ' |
Foreign currency translation adjustments, beginning balance, before tax | $11,572 | ($3,561) | $4,278 |
Change in foreign currency translation, before tax | 12,461 | 15,133 | -7,839 |
Foreign currency translation adjustments, ending balance, before tax | 24,033 | 11,572 | -3,561 |
Foreign Currency Translation Adjustment, Tax [Roll Forward] | ' | ' | ' |
Foreign currency translation adjustment, beginning balance, tax | 0 | 0 | 0 |
Change in foreign currency translation, tax | 0 | 0 | 0 |
Foreign currency translation adjustment, ending balance, tax | 0 | 0 | 0 |
Foreign Currency Translation Adjustment, Net of Tax [Roll Forward] | ' | ' | ' |
Foreign currency translation adjustments, beginning balance, net of tax | 11,572 | -3,561 | 4,278 |
Change in foreign currency translation, net of tax | 12,461 | 15,133 | -7,839 |
Foreign currency translation adjustments, ending balance, net of tax | 24,033 | 11,572 | -3,561 |
Available-for-sale Securities Adjustment, Before Taxes [Roll Forward] | ' | ' | ' |
Unrealized gains (losses) on available-for-sale investment securities, beginning balance, before tax | 2,440 | 1,986 | 1,005 |
Unrealized (losses) gains arising on available-for-sale investment securities during the period, before tax | -1,638 | 1,970 | 2,845 |
Reclassification of (gains) to other, net on available-for-sale investment securities, before tax | -1,255 | -1,516 | -1,864 |
Net change on available-for-sale investment securities, before tax | -2,893 | 454 | 981 |
Unrealized gains (losses) on available-for-sale investment securities, ending balance, before tax | -453 | 2,440 | 1,986 |
Available-for-sale Securities Adjustment, Tax [Roll Forward] | ' | ' | ' |
Unrealized gains (losses) on available-for-sale investment securities, beginning balance, tax | -885 | -780 | -408 |
Unrealized (losses) gains arising on available-for-sale investment securities during the period, tax | 582 | -727 | -1,115 |
Reclassification of (gains) to other, net on available-for-sale investment securities, tax | 457 | 622 | 743 |
Net change on available-for-sale investment securities, tax | 1,039 | -105 | -372 |
Unrealized gains (losses) on available-for-sale investment securities, ending balance, tax | 154 | -885 | -780 |
Available-for-sale Securities Adjustment, Net of Tax [Roll Forward] | ' | ' | ' |
Unrealized gains (losses) on available-for-sale investment securities, beginning balance, net of tax | 1,555 | 1,206 | 597 |
Unrealized (losses) gains arising on available-for-sale investment securities during the period, net of tax | -1,056 | 1,243 | 1,730 |
Reclassification of (gains) to other, net on available-for-sale investment securities, net of tax | -798 | -894 | -1,121 |
Net change on available-for-sale investment securities, net of tax | -1,854 | 349 | 609 |
Unrealized gains (losses) on available-for-sale investment securities, ending balance, net of tax | -299 | 1,555 | 1,206 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Taxes [Roll Forward] | ' | ' | ' |
Unrealized (losses) on cash flow hedges, beginning balance, before tax | -296,595 | -385,640 | 32,339 |
Unrealized (losses) arising on cash flow hedges during the period, before tax | -221,275 | -7,065 | -399,205 |
Net change on cash flow hedges, before tax | -58,281 | 89,045 | -417,979 |
Unrealized (losses) on cash flow hedges, ending balance, before tax | -354,876 | -296,595 | -385,640 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax [Roll Forward] | ' | ' | ' |
Unrealized (losses) on cash flow hedges, beginning balance, tax | 43,785 | 62,601 | -1,616 |
Unrealized (losses) arising on cash flow hedges during the period, tax | 36,248 | -3,548 | 59,652 |
Net change on cash flow hedges, tax | 11,098 | -18,816 | 64,217 |
Unrealized (losses) on cash flow hedges, ending balance, tax | 54,883 | 43,785 | 62,601 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax [Roll Forward] | ' | ' | ' |
Unrealized (losses) on cash flow hedges, beginning balance, net of tax | -252,810 | -323,039 | 30,723 |
Unrealized (losses) arising on cash flow hedges during the period, net of tax | -185,027 | -10,613 | -339,553 |
Net change on cash flow hedges, net of tax | -47,183 | 70,229 | -353,762 |
Unrealized (losses) on cash flow hedges, ending balance, net of tax | -299,993 | -252,810 | -323,039 |
Accumulated Other Comprehensive Income (Loss), Before Taxes [Roll Forward] | ' | ' | ' |
Accumulated other comprehensive income (loss), beginning balance, before tax | -282,583 | -387,215 | 37,622 |
Other comprehensive income loss, before tax | -48,713 | 104,632 | -424,837 |
Accumulated other comprehensive income (loss), ending balance, before tax | -331,296 | -282,583 | -387,215 |
Accumulated Other Comprehensive Income (Loss), Tax [Roll Forward] | ' | ' | ' |
Accumulated other comprehensive income (loss), beginning balance, tax | 42,900 | 61,821 | -2,024 |
Other comprehensive income loss, tax | 12,137 | -18,921 | 63,845 |
Accumulated other comprehensive income (loss), ending balance, tax | 55,037 | 42,900 | 61,821 |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward] | ' | ' | ' |
Accumulated other comprehensive income (loss), beginning balance, net of tax | -239,683 | -325,394 | 35,598 |
Other comprehensive income (loss) | -36,576 | 85,711 | -360,992 |
Accumulated other comprehensive income (loss), ending balance, net of tax | -276,259 | -239,683 | -325,394 |
Cost Of Revenues [Member] | ' | ' | ' |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Taxes [Roll Forward] | ' | ' | ' |
Reclassifications of losses on cash flow hedges, before tax | 135,044 | 79,335 | -15,294 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax [Roll Forward] | ' | ' | ' |
Reclassification of losses on cash flow hedges, tax | -20,839 | -12,601 | 3,719 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax [Roll Forward] | ' | ' | ' |
Reclassification of losses on cash flow hedges, net of tax | 114,205 | 66,734 | -11,575 |
Selling, General and Administrative Expenses [Member] | ' | ' | ' |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Before Taxes [Roll Forward] | ' | ' | ' |
Reclassifications of losses on cash flow hedges, before tax | 27,950 | 16,775 | -3,480 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Tax [Roll Forward] | ' | ' | ' |
Reclassification of losses on cash flow hedges, tax | -4,311 | -2,667 | 846 |
Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax [Roll Forward] | ' | ' | ' |
Reclassification of losses on cash flow hedges, net of tax | $23,639 | $14,108 | ($2,634) |
Employee_Benefits_Narrative_De
Employee Benefits (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Gratuity Plan [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Amount accrued under gratuity plan net of fund assets | $69,629 | $56,737 | ' |
Fund assets | 55,004 | 50,427 | ' |
Pension and Other Postretirement Benefit Expense | 30,962 | 28,496 | 29,703 |
United States and Europe [Member] | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined contribution plan expense | 34,628 | 24,789 | 19,453 |
India | ' | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' |
Defined contribution plan expense | $56,070 | $54,125 | $49,200 |
Employee contribution percentage, maximum | 12.00% | ' | ' |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' |
Deferred income taxes related to MAT | $195,000 | $163,000 | ' |
Minimum alternative tax, expiration period (in years) | '10 years | ' | ' |
Incentive period for SEZs, years | '15 years | ' | ' |
Regular corporate income tax rate in India | 33.99% | ' | ' |
Minimum alternative tax, rate | 20.00% | ' | ' |
Effect of income tax holiday to reduce income tax provision and increase net income | 146,326 | 151,789 | 125,708 |
Increase in diluted EPS | $0.48 | $0.50 | $0.41 |
Unrepatriated Indian earnings | 4,357,000 | ' | ' |
Unrepatriated foreign earnings | 4,827,500 | ' | ' |
Accrued interest and penalties | 8,725 | 8,209 | ' |
Foreign Country [Member] | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' |
Net operating loss carryforward | $28,962 | ' | ' |
Earliest tax year open to examination | '2001 | ' | ' |
Internal Revenue Service (IRS) [Member] | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' |
Earliest tax year open to examination | '2010 | ' | ' |
Minimum [Member] | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' |
Existing minimum alternative tax expiration period | 'March 2018 | ' | ' |
Maximum [Member] | ' | ' | ' |
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | ' | ' | ' |
Existing minimum alternative tax expiration period | 'March 2024 | ' | ' |
Income_Taxes_Schedule_Of_Incom
Income Taxes (Schedule Of Income Before Provision For Income Tax) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
United States | $540,738 | $381,940 | $344,143 |
Foreign | 1,147,179 | 1,005,656 | 825,006 |
Income before provision for income taxes | $1,687,917 | $1,387,596 | $1,169,149 |
Income_Taxes_Schedule_Of_Compo
Income Taxes (Schedule Of Components Of Provision For Income Taxes) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Current: | ' | ' | ' |
Federal and state | $269,974 | $265,826 | $120,441 |
Foreign | 277,559 | 188,415 | 173,689 |
Total current | 547,533 | 454,241 | 294,130 |
Deferred: | ' | ' | ' |
Federal and state | -37,085 | -99,649 | 26,549 |
Foreign | -51,109 | -18,259 | -35,148 |
Total deferred | -88,194 | -117,908 | -8,599 |
Total provision for income taxes | $459,339 | $336,333 | $285,531 |
Income_Taxes_Reconciliation_Be
Income Taxes (Reconciliation Between Effective Income Tax Rate And U.S. Federal Statutory Rate) (Detail) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Disclosure [Abstract] | ' | ' | ' |
Tax expense, at U.S. federal statutory rate, amount | $590,771 | $485,659 | $409,202 |
State and local income taxes, net of federal benefit, amount | 33,147 | 24,032 | 20,373 |
Non-taxable income for Indian tax purposes, amount | -146,326 | -151,789 | -125,708 |
Rate differential on foreign earnings, amount | -24,606 | -22,126 | -26,030 |
Other, amount | 6,353 | 557 | 7,694 |
Total provision for income taxes | $459,339 | $336,333 | $285,531 |
Tax expense, at U.S. federal statutory rate, percentage | 35.00% | 35.00% | 35.00% |
State and local income taxes, net of federal benefit, percentage | 2.00% | 1.70% | 1.70% |
Non-taxable income for Indian tax purposes, percentage | -8.70% | -10.90% | -10.80% |
Rate differential on foreign earnings, percentage | -1.50% | -1.60% | -2.20% |
Other, percentage | 0.40% | 0.00% | 0.70% |
Total provision for income taxes, percentage | 27.20% | 24.20% | 24.40% |
Income_Taxes_Schedule_Of_Defer
Income Taxes (Schedule Of Deferred Tax Assets And Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred income tax assets: | ' | ' |
Net operating losses | $8,831 | $10,911 |
Revenue recognition | 34,368 | 31,628 |
Compensation and benefits | 132,134 | 99,110 |
Stock-based compensation | 23,202 | 26,993 |
Minimum alternative tax (MAT) and other credits | 217,099 | 178,244 |
Depreciation and amortization | 4,720 | 0 |
Other accrued expenses | 70,193 | 61,095 |
Other | 10,170 | 1,321 |
Deferred income tax assets, gross | 500,717 | 409,302 |
Less valuation allowance | -5,659 | -6,288 |
Deferred income tax assets, net | 495,058 | 403,014 |
Deferred income tax liabilities: | ' | ' |
Undistributed Indian earnings | 0 | 5,601 |
Depreciation and amortization | 0 | 832 |
Intangible assets | 38,653 | 19,094 |
Deferred income tax liabilities | 38,653 | 25,527 |
Net deferred income tax assets | $456,405 | $377,487 |
Income_Taxes_Summary_Of_Change
Income Taxes (Summary Of Changes In Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Changes in unrecognized income tax benefits | ' | ' |
Balance, beginning of year | $92,721 | $56,526 |
Additions based on tax positions related to the current year | 12,982 | 37,270 |
Additions for tax positions of prior years | 14,854 | 7,847 |
Additions for tax positions of acquired subsidiaries | 0 | 88 |
Reductions for tax positions due to lapse of statutes of limitations | -4,353 | -8,816 |
Reductions for tax positions of prior years | -10,199 | 0 |
Settlements | 0 | 0 |
Foreign currency exchange movement | -9,395 | -194 |
Balance, end of year | $96,610 | $92,721 |
Fair_Value_Measurements_Financ
Fair Value Measurements (Financial Assets And (Liabilities) Measured At Fair Value On A Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | $845,070 | $720,200 |
Investments | 1,534,467 | 1,293,681 |
Total | 2,034,568 | 1,712,110 |
Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 694,416 | 411,512 |
Time Deposits [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 128,654 | 300,770 |
Investments | 329,783 | 282,335 |
Commercial Paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 22,000 | 7,918 |
Available-For-Sale Investment Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 1,204,684 | 1,011,346 |
Available-For-Sale Investment Securities [Member] | U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 506,285 | 551,236 |
Available-For-Sale Investment Securities [Member] | Corporate And Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 401,800 | 294,556 |
Available-For-Sale Investment Securities [Member] | Asset-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 160,267 | 97,112 |
Available-For-Sale Investment Securities [Member] | Municipal Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 115,196 | 47,292 |
Available-For-Sale Investment Securities [Member] | Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 21,136 | 21,150 |
Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 11,105 | 1,344 |
Foreign Exchange Forward Contracts [Member] | Accrued Expense And Other Current Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -191,584 | -130,923 |
Foreign Exchange Forward Contracts [Member] | Other Noncurrent Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | ' | 3,436 |
Foreign Exchange Forward Contracts [Member] | Other Noncurrent Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -164,490 | -175,628 |
Level 1 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 694,416 | 411,512 |
Investments | 423,051 | 392,067 |
Total | 1,117,467 | 803,579 |
Level 1 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 694,416 | 411,512 |
Level 1 [Member] | Time Deposits [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | ' | 0 |
Investments | 0 | 0 |
Level 1 [Member] | Commercial Paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 0 | 0 |
Level 1 [Member] | Available-For-Sale Investment Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 423,051 | 392,067 |
Level 1 [Member] | Available-For-Sale Investment Securities [Member] | U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 423,051 | 392,067 |
Level 1 [Member] | Available-For-Sale Investment Securities [Member] | Corporate And Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 1 [Member] | Available-For-Sale Investment Securities [Member] | Asset-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 1 [Member] | Available-For-Sale Investment Securities [Member] | Municipal Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 1 [Member] | Available-For-Sale Investment Securities [Member] | Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 1 [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Level 1 [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expense And Other Current Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | 0 | 0 |
Level 1 [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | ' | 0 |
Level 1 [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | 0 | 0 |
Level 2 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 150,654 | 308,688 |
Investments | 1,111,416 | 901,614 |
Total | 917,101 | 908,531 |
Level 2 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 0 | 0 |
Level 2 [Member] | Time Deposits [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 128,654 | 300,770 |
Investments | 329,783 | 282,335 |
Level 2 [Member] | Commercial Paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 22,000 | 7,918 |
Level 2 [Member] | Available-For-Sale Investment Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 781,633 | 619,279 |
Level 2 [Member] | Available-For-Sale Investment Securities [Member] | U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 83,234 | 159,169 |
Level 2 [Member] | Available-For-Sale Investment Securities [Member] | Corporate And Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 401,800 | 294,556 |
Level 2 [Member] | Available-For-Sale Investment Securities [Member] | Asset-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 160,267 | 97,112 |
Level 2 [Member] | Available-For-Sale Investment Securities [Member] | Municipal Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 115,196 | 47,292 |
Level 2 [Member] | Available-For-Sale Investment Securities [Member] | Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 21,136 | 21,150 |
Level 2 [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 11,105 | 1,344 |
Level 2 [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expense And Other Current Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -191,584 | -130,923 |
Level 2 [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | ' | 3,436 |
Level 2 [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | -164,490 | -175,628 |
Level 3 [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 0 | 0 |
Investments | 0 | 0 |
Total | 0 | 0 |
Level 3 [Member] | Money Market Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | 0 | 0 |
Level 3 [Member] | Time Deposits [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | ' | 0 |
Investments | 0 | 0 |
Level 3 [Member] | Commercial Paper [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Cash Equivalents | ' | 0 |
Level 3 [Member] | Available-For-Sale Investment Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 3 [Member] | Available-For-Sale Investment Securities [Member] | U.S. Treasury And Agency Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 3 [Member] | Available-For-Sale Investment Securities [Member] | Corporate And Other Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 3 [Member] | Available-For-Sale Investment Securities [Member] | Asset-Backed Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 3 [Member] | Available-For-Sale Investment Securities [Member] | Municipal Debt Securities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 3 [Member] | Available-For-Sale Investment Securities [Member] | Mutual Funds [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Investments | 0 | 0 |
Level 3 [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | 0 | 0 |
Level 3 [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expense And Other Current Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | 0 | 0 |
Level 3 [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Assets [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, assets | ' | 0 |
Level 3 [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Liabilities [Member] | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' |
Derivative financial instruments, liabilities | $0 | $0 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended |
In Thousands, unless otherwise specified | Dec. 31, 2013 |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ' |
Cash flow hedge losses expected to be reclassified to earnings within the next 12 months | $160,942 |
Cash flow hedge ineffectiveness is immaterial | 'Hedge ineffectiveness was immaterial for all periods presented. |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Location And Fair Values Of Derivative Financial Instruments In Our Consolidated Statement Of Financial Position) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets fair value | $11,105 | $4,780 |
Derivative liabilities fair value | 356,074 | 306,551 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets fair value | 0 | 4,666 |
Derivative liabilities fair value | 354,876 | 301,261 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets fair value | 0 | 1,230 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets fair value | 0 | 3,436 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expense And Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities fair value | 190,386 | 125,633 |
Cash Flow Hedges [Member] | Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Noncurrent Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities fair value | 164,490 | 175,628 |
Other Derivatives [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets fair value | 11,105 | 114 |
Derivative liabilities fair value | 1,198 | 5,290 |
Other Derivatives [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative assets fair value | 11,105 | 114 |
Other Derivatives [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Accrued Expense And Other Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative liabilities fair value | $1,198 | $5,290 |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Notional Value Of Outstanding Cash Flow Hedge Contracts By Year Of Maturity And Net Unrealized (Loss) Gain Included In Accumulated Other Comprehensive Income) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 |
In Thousands, unless otherwise specified | ||||
Derivative [Line Items] | ' | ' | ' | ' |
Notional value of contracts outstanding | $2,340,000 | $3,353,000 | ' | ' |
Net unrealized (loss) included in accumulated other comprehensive income (loss), net of taxes | -299,993 | -252,810 | -323,039 | 30,723 |
2013 [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional value of contracts outstanding | 0 | 1,253,000 | ' | ' |
2014 [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional value of contracts outstanding | 1,200,000 | 1,200,000 | ' | ' |
2015 [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional value of contracts outstanding | 900,000 | 780,000 | ' | ' |
2016 [Member] | ' | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' | ' |
Notional value of contracts outstanding | $240,000 | $120,000 | ' | ' |
Derivative_Financial_Instrumen5
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Cash Flow Hedge Derivatives Financial Instruments) (Details) (Cash Flow Hedges [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Net (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | ($162,994) | ($96,110) |
Cost Of Revenues [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Net (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | -135,044 | -79,335 |
Selling, General And Administrative Expense [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Net (Loss) Reclassified from Accumulated Other Comprehensive Income (Loss) into Income (effective portion) | -27,950 | -16,775 |
Foreign Exchange Forward Contracts [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
(Increase) Decrease in Derivative Losses Recognized in Accumulated Other Comprehensive Income (Loss) (effective portion) | ($221,275) | ($7,065) |
Derivative_Financial_Instrumen6
Derivative Financial Instruments (Additional Information Related To Outstanding Contracts Not Designated As Hedging Instruments) (Details) (Foreign Exchange Forward Contracts [Member], Not Designated as Hedging Instrument [Member], USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivative [Line Items] | ' | ' |
Notional value of contracts outstanding | $279,302 | $208,571 |
Market value | 9,907 | -5,176 |
Indian Rupees | ' | ' |
Derivative [Line Items] | ' | ' |
Notional value of contracts outstanding | 171,802 | 178,571 |
Market value | 11,105 | -5,290 |
Euros | ' | ' |
Derivative [Line Items] | ' | ' |
Notional value of contracts outstanding | 55,500 | 30,000 |
Market value | -412 | 114 |
British Pounds | ' | ' |
Derivative [Line Items] | ' | ' |
Notional value of contracts outstanding | 52,000 | 0 |
Market value | ($786) | ' |
Derivative_Financial_Instrumen7
Derivative Financial Instruments (Location And Amounts Of Pre-Tax Gains (Losses) On Derivative Financial Instruments Not Designated As Hedges) (Details) (Not Designated as Hedging Instrument [Member], Foreign Exchange Forward Contracts [Member], Other, Net [Member], USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Not Designated as Hedging Instrument [Member] | Foreign Exchange Forward Contracts [Member] | Other, Net [Member] | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' |
Amount of net gains (losses) on derivative instruments | $14,084 | ($8,270) |
StockBased_Compensation_Plans_1
Stock-Based Compensation Plans (Narrative) (Details) (USD $) | Dec. 31, 2013 | Jun. 05, 2009 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | 2009 Incentive Plan [Member] | 2009 Incentive Plan [Member] | Purchase Plan [Member] | Stock Options [Member] | Stock Options [Member] | Stock Options [Member] | Performance Stock Units [Member] | Restricted Stock Units [Member] | Non-Employee Directors [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] |
Stock Options [Member] | Stock Options [Member] | Performance Stock Units [Member] | Stock Options [Member] | Performance Stock Units [Member] | |||||||||
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares authorized | ' | 24,000,000 | 14,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares available for grant | 11,635,263 | ' | 6,080,870 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Life of share-based payment award | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | '10 years | ' |
Vesting period | ' | ' | '3 months | '4 years | ' | ' | ' | '3 years | '2 years | ' | '1 year | ' | '3 years |
Eligible employees purchase percentage of whole share of fair market value | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued | ' | ' | 879,548 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair value of shares issued | ' | ' | $10,323 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation expense | ' | ' | ' | 902 | ' | ' | 70,489 | 117,925 | ' | ' | ' | ' | ' |
Weighted average remaining requisite service period | ' | ' | ' | '1 year | ' | ' | '2 years 1 month 10 days | '2 years 0 months 29 days | ' | ' | ' | ' | ' |
Total intrinsic value of options exercised | ' | ' | ' | $137,446 | $256,623 | $136,182 | ' | ' | ' | ' | ' | ' | ' |
StockBased_Compensation_Plans_2
Stock-Based Compensation Plans (Schedule Of Allocation Of Total Stock-Based Compensation Expense) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | $118,800 | $107,355 | $90,232 |
Income tax benefit | 29,387 | 26,206 | 21,510 |
Cost Of Revenues [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | 19,107 | 16,773 | 15,257 |
Selling, General And Administrative Expense [Member] | ' | ' | ' |
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items] | ' | ' | ' |
Total stock-based compensation expense | $99,693 | $90,582 | $74,975 |
StockBased_Compensation_Plans_3
Stock-Based Compensation Plans (Schedule Of Assumptions Used To Calculate The Fair Value Of Option Grants) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ' | ' | ' |
Dividend yield | 0.00% | 0.00% | 0.00% |
Stock Options [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ' | ' | ' |
Weighted average volatility factor | 33.47% | 36.71% | 31.87% |
Weighted average expected life (in years) | '3 years 9 months 26 days | '3 years 8 months 8 days | '3 years 6 months 15 days |
Weighted average risk-free interest rate | 0.73% | 0.43% | 1.06% |
Weighted average grant date fair value | 17.3 | 16.77 | 18.85 |
Purchase Plan [Member] | ' | ' | ' |
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items] | ' | ' | ' |
Weighted average volatility factor | 29.17% | 32.31% | 34.66% |
Weighted average expected life (in years) | '3 months | '3 months | '3 months |
Weighted average risk-free interest rate | 0.05% | 0.06% | 0.05% |
Weighted average grant date fair value | 11.74 | 11.13 | 12.21 |
StockBased_Compensation_Plans_4
Stock-Based Compensation Plans (Summary Of The Activity For Stock Options) (Details) (USD $) | 12 Months Ended |
In Thousands, except Share data, unless otherwise specified | Dec. 31, 2013 |
Number of Options | ' |
Number of Options, Outstanding at beginning of period | 5,801,346 |
Number of Options, Granted | 52,020 |
Number of Options, Exercised | -2,409,290 |
Number of Options, Cancelled | 0 |
Number of Options, Expired | -8,215 |
Number of Options, Outstanding at end of period | 3,435,861 |
Number of Options, Vested and expected to vest at December 31, 2013 | 3,426,185 |
Number of Options, Exercisable at December 31, 2013 | 3,338,841 |
Weighted Average Exercise Price (in dollars) | ' |
Weighted Average Exercise Price, Outstanding at beginning of year | $29.52 |
Weighted Average Exercise Price, Granted | $64.82 |
Weighted Average Exercise Price, Exercised | $25.54 |
Weighted Average Exercise Price, Cancelled | $0 |
Weighted Average Exercise Price, Expired | $22.56 |
Weighted Average Exercise Price, Outstanding at end of year | $32.86 |
Weighted Average Exercise Price, Vested and expected to vest at December 31, 2013 | $32.77 |
Weighted Average Exercise Price, Exercisable at December 31, 2013 | $32 |
Weighted Average Remaining Life, Outstanding at December 31, 2013 (in years) | '3 years 0 months 29 days |
Weighted Average Remaining Life, Vested and expected to vest at December 31, 2013 (in years) | '3 years 0 months 22 days |
Weighted Average Remaining Life, Exercisable at December 31, 2013 (in years) | '2 years 11 months 28 days |
Aggregate Intrinsic Value, Outstanding at December 31, 2013 | $234,065 |
Aggregate Intrinsic Value, Vested and expected to vest at December 31, 2013 | 233,696 |
Aggregate Intrinsic Value, Exercisable at December 31, 2013 | $230,324 |
StockBased_Compensation_Plans_5
Stock-Based Compensation Plans (Summary Of The Activity For Performance Stock Units) (Details) (Performance Stock Units [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Performance Stock Units [Member] | ' |
Number of Units | ' |
Number of Units, Unvested at beginning of period | 1,771,294 |
Number of Units, Granted | 818,846 |
Number of Units, Vested | -578,559 |
Number of Units, Forfeited | -73,040 |
Number of Units, Reduction due to the achievement of lower than maximum performance milestones | -64,730 |
Number of Units, Unvested at end of period | 1,873,811 |
Weighted Average Grant Date Fair Value (in dollars) | ' |
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $66.84 |
Weighted Average Grant Date Fair Value, Granted | $93.84 |
Weighted Average Grant Date Fair Value, Vested | $67.35 |
Weighted Average Grant Date Fair Value, Forfeited | $67.42 |
Weighted Average Grant Date Fair Value, Reduction due to the achievement of lower than maximum performance milestones | $66.69 |
Weighted Average Grant Date Fair Value, Unvested at end of period | $78.46 |
StockBased_Compensation_Plans_6
Stock-Based Compensation Plans (Summary Of The Activity For Restricted Stock Units) (Details) (Restricted Stock Units [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units [Member] | ' |
Number of Units | ' |
Number of Units, Unvested at beginning of period | 1,784,735 |
Number of Units, Granted | 1,079,962 |
Number of Units, Vested | -945,020 |
Number of Units, Forfeited | -121,273 |
Number of Units, Unvested at end of period | 1,798,404 |
Weighted Average Grant Date Fair Value (in dollars) | ' |
Weighted Average Grant Date Fair Value, Unvested at beginning of period | $69.39 |
Weighted Average Grant Date Fair Value, Granted | $84.11 |
Weighted Average Grant Date Fair Value, Vested | $70.18 |
Weighted Average Grant Date Fair Value, Forfeited | $69.62 |
Weighted Average Grant Date Fair Value, Unvested at end of period | $77.80 |
Commitments_and_Contingencies_1
Commitments and Contingencies (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Commitments and Contingencies Disclosure [Abstract] | ' | ' | ' |
Rent expense | $166,206 | $147,576 | $122,035 |
Outstanding fixed capital commitments related to our India development center expansion program | $63,260 | ' | ' |
Commitments_and_Contingencies_2
Commitments and Contingencies (Schedule of Future Minimum Lease Payments Under Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $135,745 |
2015 | 119,396 |
2016 | 96,772 |
2017 | 78,564 |
2018 | 55,426 |
Thereafter | 187,434 |
Total minimum lease payments | $673,337 |
Segment_Information_Narrative_
Segment Information (Narrative) (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Segment Reporting Information, Revenue for Reportable Segment [Abstract] | ' |
Percentage of consolidated revenues and segment operating profit, maximum | 10.00% |
Segment_Information_Revenues_F
Segment Information (Revenues From External Customers And Segment Operating Profit) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | $2,355,488 | $2,305,723 | $2,161,240 | $2,020,738 | $1,948,215 | $1,891,688 | $1,795,220 | $1,711,349 | $8,843,189 | [1] | $7,346,472 | [1] | $6,121,156 | [1] |
Income from operations | 447,841 | 437,359 | 426,803 | 365,907 | 356,253 | 355,386 | 331,958 | 317,899 | 1,677,910 | 1,361,496 | 1,136,468 | |||
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 118,800 | 107,355 | 90,232 | |||
Financial Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,717,573 | 3,035,447 | 2,518,422 | |||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 1,212,099 | 998,339 | 872,267 | |||
Healthcare [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,264,826 | 1,934,898 | 1,622,157 | |||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 829,916 | 724,454 | 625,052 | |||
Manufacturing/Retail/Logistics [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,868,305 | 1,498,668 | 1,197,472 | |||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 630,250 | 527,970 | 440,416 | |||
Other [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 992,485 | 877,459 | 783,105 | |||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 318,357 | 288,052 | 254,145 | |||
Operating Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Income from operations | ' | ' | ' | ' | ' | ' | ' | ' | 2,990,622 | 2,538,815 | 2,191,880 | |||
Unallocated Amount To Segment [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Less: unallocated costs | ' | ' | ' | ' | ' | ' | ' | ' | $1,312,712 | [2] | $1,177,319 | [2] | $1,055,412 | [2] |
[1] | Revenues are attributed to regions based upon customer location. | |||||||||||||
[2] | Includes $118,800, $107,355 and $90,232 of stock-based compensation expense for the years ended 2013, 2012 and 2011, respectively. |
Segment_Information_Revenues_A
Segment Information (Revenues And Long-Lived Assets By Geographic Area) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||||
Geographic Areas, Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
North America, Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $6,860,067 | [1],[2] | $5,836,258 | [1],[2] | $4,802,958 | [1],[2] | ||
Total | 2,355,488 | 2,305,723 | 2,161,240 | 2,020,738 | 1,948,215 | 1,891,688 | 1,795,220 | 1,711,349 | 8,843,189 | [1] | 7,346,472 | [1] | 6,121,156 | [1] | ||
Geographic Areas, Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
North America, Long-lived Assets | 48,352 | [2],[3] | ' | ' | ' | 52,149 | [2],[3] | ' | ' | ' | 48,352 | [2],[3] | 52,149 | [2],[3] | 27,387 | [2],[3] |
Total | 1,081,164 | [3] | ' | ' | ' | 971,486 | [3] | ' | ' | ' | 1,081,164 | [3] | 971,486 | [3] | 758,034 | [3] |
Europe [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Geographic Areas, Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,579,205 | [1],[4] | 1,195,490 | [1],[4] | 1,097,475 | [1],[4] | ||
Geographic Areas, Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Long-lived Assets | 22,707 | [3] | ' | ' | ' | 8,696 | [3] | ' | ' | ' | 22,707 | [3] | 8,696 | [3] | 5,232 | [3] |
Rest of World [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Geographic Areas, Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | 403,917 | [1],[5] | 314,724 | [1],[5] | 220,723 | [1],[5] | ||
Geographic Areas, Long-Lived Assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Long-lived Assets | 1,010,105 | [3],[5],[6] | ' | ' | ' | 910,641 | [3],[5],[6] | ' | ' | ' | 1,010,105 | [3],[5],[6] | 910,641 | [3],[5],[6] | 725,415 | [3],[5],[6] |
United Kingdom [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Geographic Areas, Revenues | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||
Revenues | ' | ' | ' | ' | ' | ' | ' | ' | $942,579 | $764,936 | $698,853 | |||||
[1] | Revenues are attributed to regions based upon customer location. | |||||||||||||||
[2] | Substantially all relates to operations in the United States. | |||||||||||||||
[3] | Long-lived assets include property and equipment, net of accumulated depreciation and amortization. | |||||||||||||||
[4] | Includes revenue from operations in the United Kingdom of $942,579, $764,936 and $698,853 for the years ended 2013, 2012, and 2011, respectively. | |||||||||||||||
[5] | Includes our operations in Asia Pacific, the Middle East and Latin America. | |||||||||||||||
[6] | Substantially all of these long-lived assets relate to our operations in India. |
Subsequent_Event_Details
Subsequent Event (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 04, 2014 | Feb. 04, 2014 |
In Thousands, except Per Share data, unless otherwise specified | Subsequent Event [Member] | Common Stock [Member] | ||
Common Class A [Member] | Subsequent Event [Member] | |||
Common Class A [Member] | ||||
Class of Stock [Line Items] | ' | ' | ' | ' |
Stock split ratio | ' | ' | 2 | ' |
Common stock dividend rate | ' | ' | 100.00% | ' |
Class A common stock, par value | $0.01 | $0.01 | $0.01 | ' |
Increase in common stock | ' | ' | ' | $3,039 |
Subsequent_Event_Pro_Forma_Ear
Subsequent Event (Pro Forma Earnings per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $324,332 | $319,627 | $300,410 | $284,209 | ' | ' | ' | ' | $1,228,578 | $1,051,263 | $883,618 |
Weighted average number of common shares outstanding, as reported | 302,873 | 301,632 | 301,670 | 301,854 | ' | ' | ' | ' | 302,007 | 301,291 | 303,277 |
Weighted average number of common shares outstanding, pro-forma | 605,746 | 603,265 | 603,340 | 603,708 | ' | ' | ' | ' | 604,015 | 602,582 | 606,553 |
Earnings per share, as reported | $1.07 | $1.06 | $1 | $0.94 | $0.93 | $0.93 | $0.83 | $0.80 | $4.07 | $3.49 | $2.91 |
Earnings per share, pro-forma | $0.54 | $0.53 | $0.50 | $0.47 | ' | ' | ' | ' | $2.03 | $1.74 | $1.46 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $324,332 | $319,627 | $300,410 | $284,209 | ' | ' | ' | ' | $1,228,578 | $1,051,263 | $883,618 |
Weighted average number of common shares outstanding, as reported | 305,428 | 304,275 | 304,446 | 305,176 | ' | ' | ' | ' | 304,831 | 305,861 | 310,351 |
Weighted average number of common shares outstanding, pro-forma | 610,856 | 608,549 | 608,892 | 610,353 | ' | ' | ' | ' | 609,662 | 611,722 | 620,702 |
Earnings per share, as reported | $1.06 | $1.05 | $0.99 | $0.93 | $0.92 | $0.91 | $0.82 | $0.79 | $4.03 | $3.44 | $2.85 |
Earnings per share, pro-forma | $0.53 | $0.53 | $0.49 | $0.47 | ' | ' | ' | ' | $2.02 | $1.72 | $1.42 |
Quarterly_Financial_Data_Unaud2
Quarterly Financial Data (Unaudited) (Summary Of Quarterly Financial Data) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Quarterly Financial Data [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Revenues | $2,355,488 | $2,305,723 | $2,161,240 | $2,020,738 | $1,948,215 | $1,891,688 | $1,795,220 | $1,711,349 | $8,843,189 | [1] | $7,346,472 | [1] | $6,121,156 | [1] |
Cost of revenues (exclusive of depreciation and amortization expense shown separately below) | 1,411,155 | 1,382,336 | 1,272,013 | 1,199,965 | 1,150,934 | 1,111,898 | 1,030,889 | 984,520 | 5,265,469 | 4,278,241 | 3,538,622 | |||
Selling, general and administrative expenses | 450,503 | 443,376 | 420,526 | 413,204 | 401,746 | 384,951 | 396,771 | 374,178 | 1,727,609 | 1,557,646 | 1,328,665 | |||
Depreciation and amortization expense | 45,989 | 42,652 | 41,898 | 41,662 | 39,282 | 39,453 | 35,602 | 34,752 | 172,201 | 149,089 | 117,401 | |||
Income from operations | 447,841 | 437,359 | 426,803 | 365,907 | 356,253 | 355,386 | 331,958 | 317,899 | 1,677,910 | 1,361,496 | 1,136,468 | |||
Net income | $324,332 | $319,627 | $300,410 | $284,209 | $278,779 | $276,901 | $251,932 | $243,651 | $1,228,578 | $1,051,263 | $883,618 | |||
Basic earnings per share | $1.07 | $1.06 | $1 | $0.94 | $0.93 | $0.93 | $0.83 | $0.80 | $4.07 | $3.49 | $2.91 | |||
Diluted earnings per share | $1.06 | $1.05 | $0.99 | $0.93 | $0.92 | $0.91 | $0.82 | $0.79 | $4.03 | $3.44 | $2.85 | |||
[1] | Revenues are attributed to regions based upon customer location. |
Quarterly_Financial_Data_Unaud3
Quarterly Financial Data (Unaudited) (Quarterly Pro Forma Earnings Per Share) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $324,332 | $319,627 | $300,410 | $284,209 | ' | ' | ' | ' | $1,228,578 | $1,051,263 | $883,618 |
Weighted average number of common shares outstanding, as reported | 302,873 | 301,632 | 301,670 | 301,854 | ' | ' | ' | ' | 302,007 | 301,291 | 303,277 |
Weighted average number of common shares outstanding, pro-forma | 605,746 | 603,265 | 603,340 | 603,708 | ' | ' | ' | ' | 604,015 | 602,582 | 606,553 |
Earnings per share, as reported | $1.07 | $1.06 | $1 | $0.94 | $0.93 | $0.93 | $0.83 | $0.80 | $4.07 | $3.49 | $2.91 |
Earnings per share, pro-forma | $0.54 | $0.53 | $0.50 | $0.47 | ' | ' | ' | ' | $2.03 | $1.74 | $1.46 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income | $324,332 | $319,627 | $300,410 | $284,209 | ' | ' | ' | ' | $1,228,578 | $1,051,263 | $883,618 |
Weighted average number of common shares outstanding, as reported | 305,428 | 304,275 | 304,446 | 305,176 | ' | ' | ' | ' | 304,831 | 305,861 | 310,351 |
Weighted average number of common shares outstanding, pro-forma | 610,856 | 608,549 | 608,892 | 610,353 | ' | ' | ' | ' | 609,662 | 611,722 | 620,702 |
Earnings per share, as reported | $1.06 | $1.05 | $0.99 | $0.93 | $0.92 | $0.91 | $0.82 | $0.79 | $4.03 | $3.44 | $2.85 |
Earnings per share, pro-forma | $0.53 | $0.53 | $0.49 | $0.47 | ' | ' | ' | ' | $2.02 | $1.72 | $1.42 |
Valuation_And_Qualifying_Accou1
Valuation And Qualifying Accounts (Valuation And Qualifying Accounts) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Accounts Receivable Allowance For Doubtful Accounts [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at Beginning of Period | $25,816 | $24,658 | $20,991 |
Charged to Costs and Expenses | 3,571 | 5,051 | 4,516 |
Charged to Other Accounts | 0 | 0 | 0 |
Deductions/Other | 2,563 | 3,893 | 849 |
Balance at End of Period | 26,824 | 25,816 | 24,658 |
Warranty Accrual [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at Beginning of Period | 14,840 | 12,291 | 9,094 |
Charged to Costs and Expenses | 20,327 | 17,063 | 14,078 |
Charged to Other Accounts | 0 | 0 | 0 |
Deductions/Other | 17,468 | 14,514 | 10,881 |
Balance at End of Period | 17,699 | 14,840 | 12,291 |
Valuation Allowance - Deferred Income Tax Assets [Member] | ' | ' | ' |
Movement in Valuation Allowances and Reserves [Roll Forward] | ' | ' | ' |
Balance at Beginning of Period | 6,288 | 10,365 | 10,684 |
Charged to Costs and Expenses | 3,974 | 1,399 | 470 |
Charged to Other Accounts | 0 | 0 | 0 |
Deductions/Other | 4,603 | 5,476 | 789 |
Balance at End of Period | $5,659 | $6,288 | $10,365 |