EPAM Systems (EPAM) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	Apr. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-35418
Entity Registrant Name	EPAM SYSTEMS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	22-3536104
Entity Address, Street Name	41 University Drive
Entity Address, Suite No.	Suite 202
Entity Address, City or Town	Newtown
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18940
City Area Code	267
Local Phone Number	759-9000
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	EPAM
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		56,404,766
Entity Central Index Key	0001352010
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 1,372,829	$ 1,322,143
Short-term investments	0	60,007
Trade receivables and contract assets, net of allowance of $7,575 and $4,886, respectively	585,041	501,062
Prepaid and other current assets	46,848	29,570
Total current assets	2,004,718	1,912,782
Property and equipment, net	164,749	169,533
Operating lease right-of-use assets, net	207,350	228,672
Intangible assets, net	48,547	51,975
Goodwill	210,881	211,956
Deferred tax assets	90,188	92,454
Other noncurrent assets	54,108	53,960
Total assets	2,780,541	2,721,332
Current liabilities
Accounts payable	7,168	10,189
Accrued compensation and benefits expenses	315,991	294,709
Accrued expenses and other current liabilities	75,326	79,690
Income taxes payable, current	9,097	20,603
Operating lease liabilities, current	56,179	60,759
Total current liabilities	463,761	465,950
Long-term debt	25,032	25,038
Income taxes payable, noncurrent	43,925	43,448
Operating lease liabilities, noncurrent	162,005	180,604
Other noncurrent liabilities	21,879	23,274
Total liabilities	716,602	738,314
Commitments and contingencies (Note 12)
Stockholders’ equity
Common Stock, Value, Issued	56	56
Additional paid-in capital	647,884	660,771
Retained earnings	1,456,926	1,347,880
Treasury stock	(177)	(177)
Accumulated other comprehensive loss	(40,750)	(25,512)
Total stockholders’ equity	2,063,939	1,983,018
Total liabilities and stockholders’ equity	$ 2,780,541	$ 2,721,332

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Trade receivables and contract assets allowance	$ 7,575	$ 4,886
Stockholders' equity
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	160,000,000	160,000,000
Common stock, shares issued (in shares)	56,401,000	56,128,000
Common stock, shares outstanding (in shares)	56,381,000	56,108,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenues	$ 780,775	$ 651,359
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization)	519,328	423,802
Selling, general and administrative expenses	136,389	125,108
Depreciation and amortization expense	17,807	14,940
Income from operations	107,251	87,509
Interest and other income, net	5,374	2,386
Foreign exchange gain	2,299	6,524
Income before provision for income taxes	114,924	96,419
Provision for income taxes	5,878	10,854
Net income	$ 109,046	$ 85,565
Net income per share:
Basic (in dollars per share)	$ 1.94	$ 1.55
Diluted (in dollars per share)	$ 1.86	$ 1.47
Shares used in calculation of net income per share:
Basic (in shares)	56,170	55,287
Diluted (in shares)	58,778	58,143

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income	$ 109,046	$ 85,565
Other comprehensive loss:
Change in foreign currency translation adjustments, net of tax	(10,531)	(28,519)
Change in unrealized loss on hedging instruments, net of tax	(4,081)	(9,368)
Defined benefit pension plans - actuarial loss, net of tax	(626)	0
Other comprehensive loss	(15,238)	(37,887)
Comprehensive income	$ 93,808	$ 47,678

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Restricted stock units	Cumulative effect of adoption	Adjusted balance	Common Stock	Common StockRestricted stock units	Common StockAdjusted balance	Additional Paid-in Capital	Additional Paid-in CapitalRestricted stock units	Additional Paid-in CapitalAdjusted balance	Retained Earnings	Retained EarningsCumulative effect of adoption	Retained EarningsAdjusted balance	Treasury Stock	Treasury StockAdjusted balance	Accumulated other comprehensive loss	Accumulated other comprehensive lossAdjusted balance
Balance, beginning of period (in shares) at Dec. 31, 2019					55,188		55,188							20	20
Beginning balance at Dec. 31, 2019	$ 1,596,145		$ 130	$ 1,596,275	$ 55		$ 55	$ 607,051		$ 607,051	$ 1,020,590	$ 130	$ 1,020,720	$ (177)	$ (177)	$ (31,374)	$ (31,374)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock units vested (in shares)						274
Stock units withheld for employee taxes (in shares)						(90)
Stock units withheld for employee taxes		$ (15,822)							$ (15,822)
Stock-based compensation expense	12,210							12,210
Proceeds from stock options exercises (in shares)					217
Proceeds from stock options exercises	7,141				$ 1			7,140
Other comprehensive loss	(37,887)															(37,887)
Net income	85,565										85,565
Balance, end of period (in shares) at Mar. 31, 2020					55,589									20
Ending balance at Mar. 31, 2020	$ 1,647,482				$ 56			610,579			1,106,285			$ (177)		(69,261)
Balance, beginning of period (in shares) at Dec. 31, 2020	56,108				56,108									20
Beginning balance at Dec. 31, 2020	$ 1,983,018				$ 56			660,771			1,347,880			$ (177)		(25,512)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock units vested (in shares)						248
Stock units withheld for employee taxes (in shares)						(84)
Stock units withheld for employee taxes		$ (31,935)							$ (31,935)
Stock-based compensation expense	14,624							14,624
Proceeds from stock options exercises (in shares)					109
Proceeds from stock options exercises	4,424							4,424
Other comprehensive loss	(15,238)															(15,238)
Net income	$ 109,046										109,046
Balance, end of period (in shares) at Mar. 31, 2021	56,381				56,381									20
Ending balance at Mar. 31, 2021	$ 2,063,939				$ 56			$ 647,884			$ 1,456,926			$ (177)		$ (40,750)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 109,046	$ 85,565
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	17,807	14,940
Operating lease right-of-use assets amortization expense	15,676	16,816
Bad debt expense	2,925	2,719
Deferred taxes	6,692	8,288
Stock-based compensation expense	24,553	11,881
Other	(4,926)	5,893
Changes in assets and liabilities:
Trade receivables and contract assets	(89,395)	(51,423)
Prepaid and other assets	(8,581)	(9,746)
Accounts payable	(3,166)	(2,407)
Accrued expenses and other liabilities	(15,830)	5,437
Operating lease liabilities	(16,065)	(15,646)
Income taxes payable	(25,909)	(9,062)
Net cash provided by operating activities	12,827	63,255
Cash flows from investing activities:
Purchases of property and equipment	(11,186)	(29,075)
Proceeds from short-term investments	60,000	0
Acquisition of business, net of cash acquired (Note 2)	0	(10,339)
Purchases of non-marketable securities	(1,044)	(20,000)
Other investing activities, net	691	(71)
Net cash provided by/(used in) investing activities	48,461	(59,485)
Cash flows from financing activities:
Proceeds from stock option exercises	4,373	6,850
Payments of withholding taxes related to net share settlements of restricted stock units	(3,304)	(1,018)
Payment of contingent consideration for previously acquired business	0	(7,869)
Other financing activities, net	260	(9)
Net cash provided by/(used in) financing activities	1,329	(2,046)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(11,856)	(22,009)
Net increase/(decrease) in cash, cash equivalents and restricted cash	50,761	(20,285)
Cash, cash equivalents and restricted cash, beginning of period	1,323,533	937,688
Cash, cash equivalents and restricted cash, end of period	$ 1,374,294	$ 917,403

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOW (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Cash and cash equivalents	$ 1,372,829	$ 1,322,143
Total restricted cash	1,465	1,390
Total cash, cash equivalents, restricted cash and restricted cash equivalents	1,374,294	1,323,533
Restricted cash in Prepaid and other current assets
Restricted cash	103	106
Restricted cash in Other noncurrent assets
Restricted cash	$ 1,362	$ 1,284

BUSINESS AND SUMMARY OF SIGNIFI

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES EPAM Systems, Inc. (the “Company” or “EPAM”) is a leading global provider of digital platform engineering and software development services to customers located around the world, primarily in North America, Europe, Asia and Australia. The Company’s industry expertise includes financial services, travel and consumer, software and hi-tech, business information and media, life sciences and healthcare, as well as other emerging industries. The Company is incorporated in Delaware with headquarters in Newtown, Pennsylvania. Basis of Presentation — The accompanying unaudited condensed consolidated financial statements of EPAM have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP” or “U.S. GAAP”) and Article 10 of Regulation S-X under the Securities Exchange Act of 1934, as amended. The unaudited condensed consolidated financial statements include the financial statements of EPAM Systems, Inc. and its subsidiaries with all intercompany balances and transactions eliminated. These unaudited condensed consolidated financial statements and accompanying notes should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2020 included in its Annual Report on Form 10-K. The preparation of these condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates, and such differences may be material to the condensed consolidated financial statements. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire year. In management’s opinion, all adjustments considered necessary for a fair presentation of the accompanying unaudited condensed consolidated financial statements have been included, and all adjustments are of a normal and recurring nature. Adoption of New Accounting Standards The adoption of new accounting standards did not have a material impact on the Company’s consolidated financial position, results of operations, changes in stockholders’ equity and cash flows. Pending Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standards-setting bodies that the Company will adopt according to the various timetables the FASB specifies. The Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial position, results of operations and cash flows upon adoption.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2021
Business Combinations [Abstract]
ACQUISITIONS	ACQUISITIONS2020 Acquisitions — During the year ended December 31, 2020, the Company completed two acquisitions with an aggregate purchase price of $22.5 million including contingent consideration with an acquisition-date fair value of $5.3 million. The Company committed to making contingent consideration payments with a maximum amount payable of $18.6 million subject to attainment of specified performance targets in the first and second calendar years after the respective acquisition dates. These acquisitions increased EPAM’s software and service capabilities and expanded EPAM’s offerings in financial services as well as added $7.3 million of intangible assets, consisting mainly of customer relationships. Pro forma results of operations have not been presented because the effect of these acquisitions on the Company’s condensed consolidated financial statements was not material individually or in the aggregate.

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill by reportable segment was as follows: North America Europe Russia Total Balance as of January 1, 2021 $ 121,132 $ 90,106 $ 718 $ 211,956 2020 acquisitions purchase accounting adjustments — (24) — (24) Effect of net foreign currency exchange rate changes (353) (692) (6) (1,051) Balance as of March 31, 2021 $ 120,779 $ 89,390 $ 712 $ 210,881

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company carries certain assets and liabilities at fair value on a recurring basis on its consolidated balance sheets. The following tables present the fair values of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020: As of March 31, 2021 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 1,543 $ — $ 1,543 $ — Total assets measured at fair value on a recurring basis $ 1,543 $ — $ 1,543 $ — Foreign exchange derivative liabilities $ 2,111 $ — $ 2,111 $ — Contingent consideration 2,526 — — 2,526 Total liabilities measured at fair value on a recurring basis $ 4,637 $ — $ 2,111 $ 2,526 As of December 31, 2020 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 4,955 $ — $ 4,955 $ — Total assets measured at fair value on a recurring basis $ 4,955 $ — $ 4,955 $ — Foreign exchange derivative liabilities $ 243 $ — $ 243 $ — Contingent consideration 7,470 — — 7,470 Total liabilities measured at fair value on a recurring basis $ 7,713 $ — $ 243 $ 7,470 The foreign exchange derivatives are valued using pricing models and discounted cash flow methodologies based on observable foreign exchange data at the measurement date. See Note 5 “Derivative Financial Instruments” in the condensed consolidated interim financial statements for additional information regarding derivative financial instruments. The fair value of the contingent consideration was determined using a probability-weighted expected return method and is based on the expected future payments to be made to the sellers of the acquired businesses in accordance with the provisions outlined in the respective purchase agreements. Although there is significant judgment involved, the Company believes its estimates and assumptions are reasonable. In determining fair value, the Company considered a variety of factors, including future performance of the acquired businesses using financial projections developed by the Company and market risk assumptions that were derived for revenue growth and earnings before interest and taxes. The Company estimated future payments using the earnout formula and performance targets specified in the purchase agreements and adjusted those estimates to reflect the probability of their achievement. Those weighted-average estimated future payments were then discounted to present value using a rate based on the weighted-average cost of capital of guideline companies. The discount rates used to determine the fair value of contingent consideration for the 2020 Acquisitions ranged from a minimum of 15.5% to a maximum of 17.5%. Changes in financial projections, market risk assumptions, discount rates or probability assumptions related to achieving the various earnout criteria would result in a change in the fair value of the recorded contingent liabilities. Such changes, if any, are recorded within Interest and other income, net in the Company’s condensed consolidated statement of income. A reconciliation of the beginning and ending balances of Level 3 acquisition-related contingent consideration using significant unobservable inputs for the three months ended March 31, 2021 is as follows: Amount Contingent consideration liabilities as of January 1, 2021 $ 7,470 Changes in fair value of contingent consideration included in Interest and other income, net (4,944) Contingent consideration liabilities as of March 31, 2021 $ 2,526 Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis Estimates of fair value of financial instruments not carried at fair value on a recurring basis on the Company’s consolidated balance sheets are generally subjective in nature and are determined as of a specific point in time based on the characteristics of the financial instruments and relevant market information. The generally short maturities of certain assets and liabilities result in a number of assets and liabilities for which fair value equals or closely approximates the amount recorded on the Company’s condensed consolidated balance sheets. The following tables present the estimated fair values of the Company’s financial assets and liabilities not measured at fair value on a recurring basis as of the dates indicated: Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets: Cash equivalents: Money market funds $ 135,706 $ 135,706 $ 135,706 $ — $ — Total cash equivalents $ 135,706 $ 135,706 $ 135,706 $ — $ — Restricted cash $ 1,465 $ 1,465 $ 1,465 $ — $ — Employee loans $ 692 $ 692 $ — $ — $ 692 Financial Liabilities: Borrowings under the 2017 Credit Facility $ 25,008 $ 25,008 $ — $ 25,008 $ — Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 December 31, 2020 Financial Assets: Cash equivalents: Money market funds $ 153,783 $ 153,783 $ 153,783 $ — $ — Total cash equivalents $ 153,783 $ 153,783 $ 153,783 $ — $ — Restricted cash $ 1,390 $ 1,390 $ 1,390 $ — $ — Time deposits included in Short-term investments $ 60,007 $ 60,007 $ — $ 60,007 $ — Employee loans $ 794 $ 794 $ — $ — $ 794 Financial Liabilities: Borrowings under the 2017 Credit Facility $ 25,007 $ 25,007 $ — $ 25,007 $ — Non-Marketable Securities Without Readily Determinable Fair Values The Company holds investments in equity securities that do not have readily determinable fair values. These investments are recorded at cost and are remeasured to fair value based on certain observable price changes or impairment events as they occur. The carrying amount of these investments was $26.0 million and $25.0 million as of March 31, 2021 and December 31, 2020, respectively and is classified as Other noncurrent assets in the Company’s condensed consolidated balance sheets.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE FINANCIAL INSTRUMENTS	DERIVATIVE FINANCIAL INSTRUMENTS In the normal course of business, the Company uses derivative financial instruments to manage the risk of fluctuations in foreign currency exchange rates. The Company has a hedging program whereby it enters into a series of foreign exchange forward contracts with durations of twelve months or less that are designated as cash flow hedges of forecasted Russian ruble, Polish zloty and Indian rupee transactions. As of March 31, 2021, all of the Company’s foreign exchange forward contracts were designated as hedges and there is no financial collateral (including cash collateral) required to be posted by the Company related to the foreign exchange forward contracts. The fair value of derivative instruments on the Company’s consolidated balance sheets as of March 31, 2021 and December 31, 2020 were as follows: As of March 31, 2021 As of December 31, 2020 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts - Prepaid expenses and other current assets $ 1,543 $ 4,955 Accrued expenses and other current liabilities $ 2,111 $ 243

LEASES

LEASES	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
LEASES	LEASES The Company leases office space, corporate apartments, office equipment, and vehicles. Many of the Company’s leases contain variable payments including changes in base rent and charges for common area maintenance or other miscellaneous expenses. Due to this variability, the cash flows associated with these variable payments are not included in the minimum lease payments used in determining the right-of-use assets and associated lease liabilities and are recognized in the period in which the obligation for such payments is incurred. The Company’s leases have remaining lease terms ranging from 0.1 to 10.1 years. Certain lease agreements, mainly for office space, include options to extend or terminate the lease before the expiration date. The Company considers such options when determining the lease term when it is reasonably certain that the Company will exercise that option. The Company leases and subleases a portion of its office space to third parties. Lease income and sublease income were immaterial for the three months ended March 31, 2021 and 2020. During the three months ended March 31, 2021 and 2020, the components of lease expense were as follows: Three Months Ended Income Statement Classification 2021 2020 Operating lease cost Selling, general and administrative expenses $ 17,256 $ 18,863 Variable lease cost Selling, general and administrative expenses 2,260 2,635 Short-term lease cost Selling, general and administrative expenses 178 540 Total lease cost $ 19,694 $ 22,038 Supplemental cash flow information related to leases for the three months ended March 31, 2021 and 2020 was as follows: Three Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 17,645 $ 16,891 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 38 $ 31,252 Non-cash net (decrease)/ increase due to lease modifications: Operating lease right-of-use assets $ (1,066) $ 4,584 Operating lease liabilities $ (1,066) $ 4,573 Weighted average remaining lease term and discount rate as of March 31, 2021 and 2020 were as follows: As of March 31, 2021 As of March 31, 2020 Weighted average remaining lease term, in years: Operating leases 5.8 6.0 Weighted average discount rate: Operating leases 3.0 % 3.3 % As of March 31, 2021, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2021 (excluding three months ended March 31, 2021) $ 47,591 2022 48,143 2023 36,318 2024 31,510 2025 22,110 Thereafter 50,842 Total lease payments 236,514 Less: imputed interest (18,330) Total $ 218,184 The Company had committed to payments of $1.2 million related to operating lease agreements that had not yet commenced as of March 31, 2021. These operating leases will commence on various dates during 2021 with lease terms ranging from 0.6 to 5.0 years. The Company did not have any material finance lease agreements that had not yet commenced.

LONG-TERM DEBT

LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
LONG-TERM DEBT	LONG-TERM DEBT Revolving Line of Credit — On May 24, 2017, the Company entered into an unsecured credit facility (the “2017 Credit Facility”), as may be amended from time to time, with PNC Bank, National Association; PNC Capital Markets LLC; Citibank N.A.; Wells Fargo Bank, National Association; Fifth Third Bank and Santander Bank, N.A. (collectively the “Lenders”). The 2017 Credit Facility provides for a borrowing capacity of $300.0 million, with potential to increase the borrowing capacity up to $400.0 million if certain conditions are met. The 2017 Credit Facility matures on May 24, 2022. Borrowings under the 2017 Credit Facility may be denominated in U.S. dollars or up to a maximum of $100.0 million equivalent in British pounds sterling, Canadian dollars, euros or Swiss francs and other currencies as may be approved by the administrative agent and the Lenders. Borrowings under the 2017 Credit Facility bear interest at either a base rate or Euro-rate plus a margin based on the Company’s leverage ratio. The base rate is equal to the highest of (a) the Overnight Bank Funding Rate, plus 0.5%, (b) the Prime Rate, and (c) the Daily LIBOR Rate, plus 1.0%. As of March 31, 2021, the Company’s outstanding borrowings are subject to a LIBOR-based interest rate which resets regularly at issuance, based on lending terms. The 2017 Credit Facility includes customary business and financial covenants that may restrict the Company’s ability to make or pay dividends (other than certain intercompany dividends) if a potential or an actual event of default has occurred or would be triggered. As of March 31, 2021, the Company was in compliance with all covenants contained in the 2017 Credit Facility. The following table presents the outstanding debt and borrowing capacity of the Company under the 2017 Credit Facility: As of As of Outstanding debt $ 25,000 $ 25,000 Interest rate 1.1 % 1.2 % Available borrowing capacity $ 275,000 $ 275,000 Current maximum borrowing capacity $ 300,000 $ 300,000

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Disaggregation of Revenues The following tables present the disaggregation of the Company’s revenues by customer location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations North America $ 454,767 $ 14,663 $ 891 $ 470,321 Europe 17,755 241,554 63 259,372 CIS 1,856 14 28,264 30,134 APAC 475 20,473 — 20,948 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations North America $ 377,784 $ 10,419 $ 1,627 $ 389,830 Europe 10,332 212,722 3 223,057 CIS 2,554 12 22,294 24,860 APAC 432 13,180 — 13,612 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 The following tables present the disaggregation of the Company’s revenues by industry vertical, including a reconciliation of the disaggregated revenues with the reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Financial Services $ 69,740 $ 78,040 $ 21,078 $ 168,858 Business Information & Media 87,205 60,157 387 147,749 Software & Hi-Tech 125,586 20,973 505 147,064 Travel & Consumer 69,429 64,624 4,958 139,011 Life Sciences & Healthcare 75,589 15,351 175 91,115 Emerging Verticals 47,304 37,559 2,115 86,978 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Financial Services $ 47,868 $ 67,594 $ 16,181 $ 131,643 Business Information & Media 80,220 58,146 360 138,726 Software & Hi-Tech 101,737 18,146 1,966 121,849 Travel & Consumer 54,724 61,067 3,739 119,530 Life Sciences & Healthcare 61,611 7,619 9 69,239 Emerging Verticals 44,942 23,761 1,669 70,372 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 The following tables present the disaggregation of the Company’s revenues by contract type including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 417,887 $ 232,691 $ 14,427 $ 665,005 Fixed-price 53,015 43,566 14,701 111,282 Licensing 3,535 54 81 3,670 Other revenues 416 393 9 818 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 357,263 $ 190,320 $ 13,596 $ 561,179 Fixed-price 31,855 45,255 8,821 85,931 Licensing 1,770 162 1,458 3,390 Other revenues 214 596 49 859 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 Timing of Revenue Recognition The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 472,374 $ 276,731 $ 29,190 778,295 Transferred at a point of time 2,479 (27) 28 2,480 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 389,810 $ 236,171 $ 22,468 $ 648,449 Transferred at a point of time 1,292 162 1,456 $ 2,910 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 During the three months ended March 31, 2021, the Company recognized $15.2 million of revenues from performance obligations satisfied in previous periods compared to $5.8 million during the three months ended March 31, 2020. The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of March 31, 2021. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts that (i) have an original expected duration of one year or less and (ii) contracts for which it recognizes revenues at the amount to which it has the right to invoice for services provided: Less than 1 year 1 Year 2 Years 3 Years Total Contract Type Fixed-price $ 25,409 $ 2,493 $ 226 $ — $ 28,128 The Company applies a practical expedient and does not disclose the amount of the transaction price allocated to the remaining performance obligations nor provide an explanation of when the Company expects to recognize that amount as revenue for certain variable consideration. Contract Balances The following table provides information on the classification of contract assets and liabilities in the condensed consolidated balance sheets: As of As of Contract assets included in Trade receivables and contract assets $ 19,991 $ 7,700 Contract liabilities included in Accrued expenses and other current liabilities $ 22,371 $ 17,383 Contract liabilities included in Other noncurrent liabilities $ 329 $ 94 Contract assets have increased from December 31, 2020 primarily due to contracts where the Company’s right to bill is contingent upon achievement of contractual milestones. Contract liabilities comprise amounts collected from the Company’s customers for revenues not yet earned and such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities have increased from December 31, 2020 due to an increase in advance payments from customers for professional services and licenses during the quarter. During the three months ended March 31, 2021, the Company recognized $11.0 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2020. During the three months ended March 31, 2020, the Company recognized $6.5 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2019.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed consolidated statements of income for the periods indicated: Three Months Ended 2021 2020 Cost of revenues (exclusive of depreciation and amortization) $ 11,117 $ 3,984 Selling, general and administrative expenses 13,436 7,897 Total $ 24,553 $ 11,881 Stock Options Stock option activity under the Company’s plans is set forth below: Number of Weighted Average Aggregate Weighted Average Options outstanding at January 1, 2021 2,772 $ 61.71 Options granted 81 $ 387.93 Options exercised (109) $ 40.71 Options forfeited/cancelled (3) $ 180.85 Options outstanding at March 31, 2021 2,741 $ 72.08 $ 889,755 4.3 Options vested and exercisable as of March 31, 2021 2,428 $ 52.25 $ 836,146 3.7 Options expected to vest as of March 31, 2021 287 $ 223.44 $ 49,712 8.7 As of March 31, 2021, $23.2 million of total remaining unrecognized stock-based compensation cost related to unvested stock options, net of estimated forfeitures, is expected to be recognized over the weighted-average remaining requisite service period of 3.2 years. Restricted Stock and Restricted Stock Units Service-Based Awards The table below summarizes activity related to the Company’s equity-classified and liability-classified service-based awards for the three months ended March 31, 2021: Equity-Classified Restricted Stock Equity-Classified Equity-Settled Restricted Stock Units Liability-Classified Cash-Settled Restricted Stock Units Number of Shares Weighted Average Grant Date Number of Shares Weighted Average Grant Date Number of Shares Weighted Average Grant Date Unvested service-based awards outstanding at January 1, 2021 9 $ 167.18 686 $ 162.15 175 $ 141.16 Awards granted — $ — 161 $ 387.51 26 $ 387.74 Awards vested — $ — (248) $ 129.61 (77) $ 119.40 Awards forfeited/cancelled — $ — (6) $ 179.08 — $ 148.68 Unvested service-based awards outstanding at March 31, 2021 9 $ 167.18 593 $ 236.71 124 $ 206.00 As of March 31, 2021, $0.7 million of total remaining unrecognized stock-based compensation cost related to service-based equity-classified restricted stock is expected to be recognized over the weighted-average remaining requisite service period of 1.4 years. As of March 31, 2021, $118.9 million of total remaining unrecognized stock-based compensation cost related to service-based equity-classified restricted stock units (“RSUs”), net of estimated forfeitures, is expected to be recognized over the weighted-average remaining requisite service period of 3.2 years. As of March 31, 2021, $38.1 million of total remaining unrecognized stock-based compensation cost related to service-based liability-classified cash-settled RSUs, net of estimated forfeitures, is expected to be recognized over the weighted-average remaining requisite service period of 2.7 years. The liability associated with the service-based liability-classified RSUs as of March 31, 2021 and December 31, 2020, was $15.3 million and $26.8 million, respectively, and was classified as Accrued compensation and benefits expenses in the condensed consolidated balance sheets. Performance-Based Awards The table below summarizes activity related to the Company’s equity-classified performance-based awards for the three months ended March 31, 2021: Equity-Classified Equity-Settled Restricted Stock Equity-Classified Equity-Settled Restricted Stock Units Number of Shares Weighted Average Grant Date Number of Shares Weighted Average Grant Date Unvested performance-based awards outstanding at January 1, 2021 9 $ 165.87 21 $ 227.16 Awards granted — $ — — $ — Unvested performance-based awards outstanding at March 31, 2021 9 $ 165.87 21 $ 227.16 As of March 31, 2021, $0.9 million of total remaining unrecognized stock-based compensation cost related to performance-based equity-classified restricted stock is expected to be recognized over the weighted-average remaining requisite service period of 2.4 years.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES In determining its interim provision for income taxes, the Company uses an estimated annual effective tax rate, which is based on expected annual profit before tax, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rates from quarter to quarter. The Company’s worldwide effective tax rates for the three months ended March 31, 2021 and 2020 were 5.1% and 11.3%, respectively. The Company’s effective tax rates benefited from excess tax benefits recorded upon vesting or exercise of stock-based awards of $21.5 million and $11.7 million during the three months ended March 31, 2021 and 2020, respectively.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHAREBasic earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period. For purposes of computing basic earnings per share, any nonvested shares of restricted stock that have been issued by the Company and are contingently returnable to the Company are excluded from the weighted-average number of shares of common stock outstanding during the period. Diluted earnings per share is computed by dividing net income available to common shareholders by the weighted-average number of shares of common stock outstanding during the period increased to include the number of additional shares of common stock that would have been outstanding if the potentially dilutive securities had been issued. Potentially dilutive securities include outstanding stock options, unvested restricted stock and unvested equity-settled RSUs. The dilutive effect of potentially dilutive securities is reflected in diluted earnings per share by application of the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share of common stock as follows: Three Months Ended 2021 2020 Numerator for basic and diluted earnings per share: Net income $ 109,046 $ 85,565 Numerator for basic and diluted earnings per share $ 109,046 $ 85,565 Denominator: Weighted average common shares for basic earnings per share 56,170 55,287 Net effect of dilutive stock options, restricted stock units and restricted stock awards 2,608 2,856 Weighted average common shares for diluted earnings per share 58,778 58,143 Net income per share: Basic $ 1.94 $ 1.55 Diluted $ 1.86 $ 1.47 The number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 16 thousand and 9 thousand during the three months ended March 31, 2021 and 2020, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Indemnification Obligations — In the normal course of business, the Company is a party to a variety of agreements under which it may be obligated to indemnify the other party for certain matters. These obligations typically arise in contracts where the Company customarily agrees to hold the other party harmless against losses arising from a breach of representations or covenants for certain matters, infringement of third party intellectual property rights, data privacy violations, and certain tortious conduct in the course of providing services. The duration of these indemnifications varies, and in certain cases, is indefinite. The Company is unable to reasonably estimate the maximum potential amount of future payments under these or similar agreements due to the unique facts and circumstances of each agreement and the fact that certain indemnifications provide for no limitation to the maximum potential future payments under the indemnification. Management is not aware of any such matters that would have a material effect on the condensed consolidated financial statements of the Company. Litigation — From time to time, the Company is involved in litigation, claims or other contingencies arising in the ordinary course of business. The Company accrues a liability when a loss is considered probable and the amount can be reasonably estimated. When a material loss contingency is reasonably possible but not probable, the Company does not record a liability, but instead discloses the nature and the amount of the claim, and an estimate of the loss or range of loss, if such an estimate can be made. Legal fees are expensed as incurred. In the opinion of management, the outcome of any existing claims and legal or regulatory proceedings, if decided adversely, is not expected to have a material effect on the Company’s business, financial condition, results of operations or cash flows.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company determines its business segments and reports segment information in accordance with how the Company’s chief operating decision maker (“CODM”) organizes the segments to evaluate performance, allocate resources and make business decisions. Segment results are based on the segment’s revenues and operating profit, where segment operating profit is defined as income from operations before unallocated costs. Expenses included in segment operating profit consist principally of direct selling and delivery costs as well as an allocation of certain shared services expenses. Certain corporate expenses are not allocated to specific segments as these expenses are not controllable at the segment level. Such expenses include certain types of professional fees, non-corporate taxes, compensation to non-employee directors and certain other general and administrative expenses, including compensation of specific groups of non-production employees. In addition, the Company does not allocate amortization of intangible assets acquired through business combinations, goodwill and other asset impairment charges, stock-based compensation expenses, acquisition-related costs and certain other one-time charges. These unallocated amounts are combined with total segment operating profit to arrive at consolidated income from operations as reported below in the reconciliation of segment operating profit to consolidated income before provision for income taxes. Additionally, management has determined that it is not practical to allocate identifiable assets by segment since such assets are used interchangeably among the segments. The Company manages its business primarily based on the managerial responsibility for its client base and market. As managerial responsibility for a particular customer relationship generally correlates with the customer’s geographic location, there is a high degree of similarity between customer locations and the geographic boundaries of the Company’s reportable segments. In some cases, managerial responsibility for a particular customer is assigned to a management team in another region and is usually based on the strength of the relationship between customer executives and particular members of EPAM’s senior management team. In such cases, the customer’s activity would be reported through the management team’s reportable segment. Revenues from external customers and operating profit, before unallocated expenses, by reportable segment for the three months ended March 31, 2021 and 2020, were as follows: Three Months Ended 2021 2020 Segment revenues: North America $ 474,853 $ 391,102 Europe 276,704 236,333 Russia 29,218 23,924 Total segment revenues $ 780,775 $ 651,359 Segment operating profit: North America $ 94,103 $ 78,927 Europe 51,073 31,779 Russia 979 519 Total segment operating profit $ 146,155 $ 111,225 Intersegment transactions were excluded from the above on the basis that they are neither included in the measure of a segment’s profit and loss results, nor considered by the CODM during the review of segment results. There were no customers that accounted for more than 10% of total segment revenues during the three months ended March 31, 2021 and 2020. Reconciliation of segment operating profit to consolidated income before provision for income taxes is presented below: Three Months Ended 2021 2020 Total segment operating profit: $ 146,155 $ 111,225 Unallocated amounts: Stock-based compensation expense (24,553) (11,881) Amortization of intangibles assets (3,140) (3,135) Other acquisition-related expenses (1,933) (468) Other unallocated expenses (9,278) (8,232) Income from operations 107,251 87,509 Interest and other income, net 5,374 2,386 Foreign exchange gain 2,299 6,524 Income before provision for income taxes $ 114,924 $ 96,419 Geographic Area Information Long-lived assets include property and equipment, net of accumulated depreciation and amortization, and management has determined that it is not practical to allocate these assets by segment since such assets are used interchangeably among the segments. Physical locations and values of the Company’s long-lived assets are presented below: As of As of Belarus $ 72,805 $ 73,988 Ukraine 28,621 30,980 United States 15,643 15,718 Russia 13,739 15,036 India 7,182 7,079 Poland 5,610 5,434 Hungary 4,840 5,365 Spain 2,670 2,799 China 2,409 2,722 Mexico 2,396 2,419 Other 8,834 7,993 Total $ 164,749 $ 169,533 The table below presents information about the Company’s revenues by customer location for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 United States $ 448,021 $ 370,089 United Kingdom 93,464 92,132 Switzerland 67,568 47,222 Netherlands 33,032 25,909 Russia 27,656 21,961 Germany 22,025 20,193 Canada 21,835 17,920 Other locations 67,174 55,933 Total $ 780,775 $ 651,359

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss: Three Months Ended 2021 2020 Foreign currency translation Beginning balance $ (28,168) $ (32,666) Foreign currency translation (13,581) (35,332) Income tax benefit 3,050 6,813 Foreign currency translation, net of tax (10,531) (28,519) Ending balance $ (38,699) $ (61,185) Cash flow hedging instruments Beginning balance $ 3,642 $ 1,292 Unrealized loss in fair value (7,346) (11,428) Net gain/(loss) reclassified into Cost of revenues (exclusive of depreciation and amortization) 2,066 (660) Income tax benefit 1,199 2,720 Cash flow hedging instruments, net of tax (4,081) (9,368) Ending balance (1) $ (439) $ (8,076) Defined benefit plans Beginning balance $ (986) $ — Actuarial losses (811) — Income tax benefit 185 — Defined benefit plans, net of tax (626) — Ending balance $ (1,612) $ — Accumulated other comprehensive loss $ (40,750) $ (69,261)

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS On April 2, 2021, the Company acquired 100% of PolSource S.A. and its subsidiaries, a Salesforce Platinum Consulting Partner with more than 350 experienced Salesforce specialists. The Company paid approximately $111.8 million in cash at closing and could pay up to $45.0 million in earn-out consideration based on achievement of certain revenue, earnings and operational targets. In addition, the Company agreed to grant service-based RSUs valued at approximately $12.8 million and performance-based equity-settled restricted stock units (“PolSource PSUs”) valued at approximately $2.2 million. Vesting of the PolSource PSUs is dependent on continued service and achievement of certain revenue, earnings and operational targets. Subsequent to March 31, 2021, the Company completed two additional acquisitions. In aggregate, the Company paid approximately $13.8 million in cash at closing and could pay up to $10.8 million in earn-out consideration based on the achievement of certain revenue, earnings and operational targets. In addition, the Company agreed to grant restricted stock units valued at approximately $9.6 million to employees of the acquired companies. Due to the timing of the acquisitions, the initial accounting for the acquisitions is incomplete. As such, the Company is not able to disclose certain information relating to the acquisitions, including the preliminary fair value of assets acquired and liabilities assumed. The Company expects to complete the initial accounting for these acquisitions during the second quarter of 2021.

BUSINESS AND SUMMARY OF SIGNI_2

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Nature of Operations	EPAM Systems, Inc. (the “Company” or “EPAM”) is a leading global provider of digital platform engineering and software development services to customers located around the world, primarily in North America, Europe, Asia and Australia. The Company’s industry expertise includes financial services, travel and consumer, software and hi-tech, business information and media, life sciences and healthcare, as well as other emerging industries. The Company is incorporated in Delaware with headquarters in Newtown, Pennsylvania.
Basis of Presentation	Basis of Presentation — The accompanying unaudited condensed consolidated financial statements of EPAM have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP” or “U.S. GAAP”) and Article 10 of Regulation S-X under the Securities Exchange Act of 1934, as amended. The unaudited condensed consolidated financial statements include the financial statements of EPAM Systems, Inc. and its subsidiaries with all intercompany balances and transactions eliminated.
Use of Estimates	The preparation of these condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in these condensed consolidated financial statements and accompanying notes. Actual results could differ from those estimates, and such differences may be material to the condensed consolidated financial statements. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire year. In management’s opinion, all adjustments considered necessary for a fair presentation of the accompanying unaudited condensed consolidated financial statements have been included, and all adjustments are of a normal and recurring nature.
Adoption of New Accounting Standards and Pending Accounting Standards	Adoption of New Accounting Standards The adoption of new accounting standards did not have a material impact on the Company’s consolidated financial position, results of operations, changes in stockholders’ equity and cash flows. Pending Accounting Standards From time to time, new accounting pronouncements are issued by the FASB or other standards-setting bodies that the Company will adopt according to the various timetables the FASB specifies. The Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial position, results of operations and cash flows upon adoption.
Equity Securities without Readily Determinable Fair Value	The Company holds investments in equity securities that do not have readily determinable fair values. These investments are recorded at cost and are remeasured to fair value based on certain observable price changes or impairment events as they occur.
Income Taxes	In determining its interim provision for income taxes, the Company uses an estimated annual effective tax rate, which is based on expected annual profit before tax, statutory tax rates and tax planning opportunities available in the various jurisdictions in which the Company operates. Certain significant or unusual items are separately recognized in the quarter in which they occur and can be a source of variability in the effective tax rates from quarter to quarter.
Fair Value of Financial Instruments	The foreign exchange derivatives are valued using pricing models and discounted cash flow methodologies based on observable foreign exchange data at the measurement date. See Note 5 “Derivative Financial Instruments” in the condensed consolidated interim financial statements for additional information regarding derivative financial instruments. The fair value of the contingent consideration was determined using a probability-weighted expected return method and is based on the expected future payments to be made to the sellers of the acquired businesses in accordance with the provisions outlined in the respective purchase agreements. Although there is significant judgment involved, the Company believes its estimates and assumptions are reasonable. In determining fair value, the Company considered a variety of factors, including future performance of the acquired businesses using financial projections developed by the Company and market risk assumptions that were derived for revenue growth and earnings before interest and taxes. The Company estimated future payments using the earnout formula and performance targets specified in the purchase agreements and adjusted those estimates to reflect the probability of their achievement. Those weighted-average estimated future payments were then discounted to present value using a rate based on the weighted-average cost of capital of guideline companies. The discount rates used to determine the fair value of contingent consideration for the 2020 Acquisitions ranged from a minimum of 15.5% to a maximum of 17.5%. Changes in financial projections, market risk assumptions, discount rates or probability assumptions related to achieving the various earnout criteria would result in a change in the fair value of the recorded contingent liabilities. Such changes, if any, are recorded within Interest and other income, net in the Company’s condensed consolidated statement of income.

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill By Reportable Segment	Goodwill by reportable segment was as follows: North America Europe Russia Total Balance as of January 1, 2021 $ 121,132 $ 90,106 $ 718 $ 211,956 2020 acquisitions purchase accounting adjustments — (24) — (24) Effect of net foreign currency exchange rate changes (353) (692) (6) (1,051) Balance as of March 31, 2021 $ 120,779 $ 89,390 $ 712 $ 210,881

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis	The following tables present the fair values of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 and December 31, 2020: As of March 31, 2021 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 1,543 $ — $ 1,543 $ — Total assets measured at fair value on a recurring basis $ 1,543 $ — $ 1,543 $ — Foreign exchange derivative liabilities $ 2,111 $ — $ 2,111 $ — Contingent consideration 2,526 — — 2,526 Total liabilities measured at fair value on a recurring basis $ 4,637 $ — $ 2,111 $ 2,526 As of December 31, 2020 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 4,955 $ — $ 4,955 $ — Total assets measured at fair value on a recurring basis $ 4,955 $ — $ 4,955 $ — Foreign exchange derivative liabilities $ 243 $ — $ 243 $ — Contingent consideration 7,470 — — 7,470 Total liabilities measured at fair value on a recurring basis $ 7,713 $ — $ 243 $ 7,470
Acquisition-Related Contingent Consideration Roll Forward	A reconciliation of the beginning and ending balances of Level 3 acquisition-related contingent consideration using significant unobservable inputs for the three months ended March 31, 2021 is as follows: Amount Contingent consideration liabilities as of January 1, 2021 $ 7,470 Changes in fair value of contingent consideration included in Interest and other income, net (4,944) Contingent consideration liabilities as of March 31, 2021 $ 2,526
Estimated Fair Values of Financial Assets and Liabilities not Measured at Fair Value on Recurring Basis	The following tables present the estimated fair values of the Company’s financial assets and liabilities not measured at fair value on a recurring basis as of the dates indicated: Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 March 31, 2021 Financial Assets: Cash equivalents: Money market funds $ 135,706 $ 135,706 $ 135,706 $ — $ — Total cash equivalents $ 135,706 $ 135,706 $ 135,706 $ — $ — Restricted cash $ 1,465 $ 1,465 $ 1,465 $ — $ — Employee loans $ 692 $ 692 $ — $ — $ 692 Financial Liabilities: Borrowings under the 2017 Credit Facility $ 25,008 $ 25,008 $ — $ 25,008 $ — Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 December 31, 2020 Financial Assets: Cash equivalents: Money market funds $ 153,783 $ 153,783 $ 153,783 $ — $ — Total cash equivalents $ 153,783 $ 153,783 $ 153,783 $ — $ — Restricted cash $ 1,390 $ 1,390 $ 1,390 $ — $ — Time deposits included in Short-term investments $ 60,007 $ 60,007 $ — $ 60,007 $ — Employee loans $ 794 $ 794 $ — $ — $ 794 Financial Liabilities: Borrowings under the 2017 Credit Facility $ 25,007 $ 25,007 $ — $ 25,007 $ —

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Fair Value of Derivative Instruments	The fair value of derivative instruments on the Company’s consolidated balance sheets as of March 31, 2021 and December 31, 2020 were as follows: As of March 31, 2021 As of December 31, 2020 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts - Prepaid expenses and other current assets $ 1,543 $ 4,955 Accrued expenses and other current liabilities $ 2,111 $ 243

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Components of Lease Expenses	During the three months ended March 31, 2021 and 2020, the components of lease expense were as follows: Three Months Ended Income Statement Classification 2021 2020 Operating lease cost Selling, general and administrative expenses $ 17,256 $ 18,863 Variable lease cost Selling, general and administrative expenses 2,260 2,635 Short-term lease cost Selling, general and administrative expenses 178 540 Total lease cost $ 19,694 $ 22,038
Supplemental Cash Flow Information	Supplemental cash flow information related to leases for the three months ended March 31, 2021 and 2020 was as follows: Three Months Ended 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 17,645 $ 16,891 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 38 $ 31,252 Non-cash net (decrease)/ increase due to lease modifications: Operating lease right-of-use assets $ (1,066) $ 4,584 Operating lease liabilities $ (1,066) $ 4,573
Weighted Average Lease Terms and Discount Rates	Weighted average remaining lease term and discount rate as of March 31, 2021 and 2020 were as follows: As of March 31, 2021 As of March 31, 2020 Weighted average remaining lease term, in years: Operating leases 5.8 6.0 Weighted average discount rate: Operating leases 3.0 % 3.3 %
Maturity of Operating Lease Liabilities	As of March 31, 2021, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2021 (excluding three months ended March 31, 2021) $ 47,591 2022 48,143 2023 36,318 2024 31,510 2025 22,110 Thereafter 50,842 Total lease payments 236,514 Less: imputed interest (18,330) Total $ 218,184

LONG-TERM DEBT (Tables)

LONG-TERM DEBT (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Outstanding Debt And Borrowing Capacity	The following table presents the outstanding debt and borrowing capacity of the Company under the 2017 Credit Facility: As of As of Outstanding debt $ 25,000 $ 25,000 Interest rate 1.1 % 1.2 % Available borrowing capacity $ 275,000 $ 275,000 Current maximum borrowing capacity $ 300,000 $ 300,000

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenues	The following tables present the disaggregation of the Company’s revenues by customer location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations North America $ 454,767 $ 14,663 $ 891 $ 470,321 Europe 17,755 241,554 63 259,372 CIS 1,856 14 28,264 30,134 APAC 475 20,473 — 20,948 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations North America $ 377,784 $ 10,419 $ 1,627 $ 389,830 Europe 10,332 212,722 3 223,057 CIS 2,554 12 22,294 24,860 APAC 432 13,180 — 13,612 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 The following tables present the disaggregation of the Company’s revenues by industry vertical, including a reconciliation of the disaggregated revenues with the reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Financial Services $ 69,740 $ 78,040 $ 21,078 $ 168,858 Business Information & Media 87,205 60,157 387 147,749 Software & Hi-Tech 125,586 20,973 505 147,064 Travel & Consumer 69,429 64,624 4,958 139,011 Life Sciences & Healthcare 75,589 15,351 175 91,115 Emerging Verticals 47,304 37,559 2,115 86,978 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Financial Services $ 47,868 $ 67,594 $ 16,181 $ 131,643 Business Information & Media 80,220 58,146 360 138,726 Software & Hi-Tech 101,737 18,146 1,966 121,849 Travel & Consumer 54,724 61,067 3,739 119,530 Life Sciences & Healthcare 61,611 7,619 9 69,239 Emerging Verticals 44,942 23,761 1,669 70,372 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 The following tables present the disaggregation of the Company’s revenues by contract type including a reconciliation of the disaggregated revenues with the Company’s reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 417,887 $ 232,691 $ 14,427 $ 665,005 Fixed-price 53,015 43,566 14,701 111,282 Licensing 3,535 54 81 3,670 Other revenues 416 393 9 818 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 357,263 $ 190,320 $ 13,596 $ 561,179 Fixed-price 31,855 45,255 8,821 85,931 Licensing 1,770 162 1,458 3,390 Other revenues 214 596 49 859 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359 Timing of Revenue Recognition The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 13 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2021 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 472,374 $ 276,731 $ 29,190 778,295 Transferred at a point of time 2,479 (27) 28 2,480 Revenues $ 474,853 $ 276,704 $ 29,218 $ 780,775 Three Months Ended March 31, 2020 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 389,810 $ 236,171 $ 22,468 $ 648,449 Transferred at a point of time 1,292 162 1,456 $ 2,910 Revenues $ 391,102 $ 236,333 $ 23,924 $ 651,359
Revenue Expected to be Recognized in Future Related to Remaining Performance Obligations	The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of March 31, 2021. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts that (i) have an original expected duration of one year or less and (ii) contracts for which it recognizes revenues at the amount to which it has the right to invoice for services provided: Less than 1 year 1 Year 2 Years 3 Years Total Contract Type Fixed-price $ 25,409 $ 2,493 $ 226 $ — $ 28,128
Contract Balances	The following table provides information on the classification of contract assets and liabilities in the condensed consolidated balance sheets: As of As of Contract assets included in Trade receivables and contract assets $ 19,991 $ 7,700 Contract liabilities included in Accrued expenses and other current liabilities $ 22,371 $ 17,383 Contract liabilities included in Other noncurrent liabilities $ 329 $ 94

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Components of Stock-Based Compensation Expenses	The following table summarizes the components of stock-based compensation expense recognized in the Company’s condensed consolidated statements of income for the periods indicated: Three Months Ended 2021 2020 Cost of revenues (exclusive of depreciation and amortization) $ 11,117 $ 3,984 Selling, general and administrative expenses 13,436 7,897 Total $ 24,553 $ 11,881
Stock Options Activity	Stock option activity under the Company’s plans is set forth below: Number of Weighted Average Aggregate Weighted Average Options outstanding at January 1, 2021 2,772 $ 61.71 Options granted 81 $ 387.93 Options exercised (109) $ 40.71 Options forfeited/cancelled (3) $ 180.85 Options outstanding at March 31, 2021 2,741 $ 72.08 $ 889,755 4.3 Options vested and exercisable as of March 31, 2021 2,428 $ 52.25 $ 836,146 3.7 Options expected to vest as of March 31, 2021 287 $ 223.44 $ 49,712 8.7
Service-Based Awards Activity	The table below summarizes activity related to the Company’s equity-classified and liability-classified service-based awards for the three months ended March 31, 2021: Equity-Classified Restricted Stock Equity-Classified Equity-Settled Restricted Stock Units Liability-Classified Cash-Settled Restricted Stock Units Number of Shares Weighted Average Grant Date Number of Shares Weighted Average Grant Date Number of Shares Weighted Average Grant Date Unvested service-based awards outstanding at January 1, 2021 9 $ 167.18 686 $ 162.15 175 $ 141.16 Awards granted — $ — 161 $ 387.51 26 $ 387.74 Awards vested — $ — (248) $ 129.61 (77) $ 119.40 Awards forfeited/cancelled — $ — (6) $ 179.08 — $ 148.68 Unvested service-based awards outstanding at March 31, 2021 9 $ 167.18 593 $ 236.71 124 $ 206.00
Performance-Based Awards Activity	The table below summarizes activity related to the Company’s equity-classified performance-based awards for the three months ended March 31, 2021: Equity-Classified Equity-Settled Restricted Stock Equity-Classified Equity-Settled Restricted Stock Units Number of Shares Weighted Average Grant Date Number of Shares Weighted Average Grant Date Unvested performance-based awards outstanding at January 1, 2021 9 $ 165.87 21 $ 227.16 Awards granted — $ — — $ — Unvested performance-based awards outstanding at March 31, 2021 9 $ 165.87 21 $ 227.16

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share	The following table sets forth the computation of basic and diluted earnings per share of common stock as follows: Three Months Ended 2021 2020 Numerator for basic and diluted earnings per share: Net income $ 109,046 $ 85,565 Numerator for basic and diluted earnings per share $ 109,046 $ 85,565 Denominator: Weighted average common shares for basic earnings per share 56,170 55,287 Net effect of dilutive stock options, restricted stock units and restricted stock awards 2,608 2,856 Weighted average common shares for diluted earnings per share 58,778 58,143 Net income per share: Basic $ 1.94 $ 1.55 Diluted $ 1.86 $ 1.47

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Revenues from External Customers and Operating Profit/(Loss), Before Unallocated Expenses	Revenues from external customers and operating profit, before unallocated expenses, by reportable segment for the three months ended March 31, 2021 and 2020, were as follows: Three Months Ended 2021 2020 Segment revenues: North America $ 474,853 $ 391,102 Europe 276,704 236,333 Russia 29,218 23,924 Total segment revenues $ 780,775 $ 651,359 Segment operating profit: North America $ 94,103 $ 78,927 Europe 51,073 31,779 Russia 979 519 Total segment operating profit $ 146,155 $ 111,225
Reconciliation of Segment Operating Profit to Consolidated Income Before Provision for Income Taxes	Reconciliation of segment operating profit to consolidated income before provision for income taxes is presented below: Three Months Ended 2021 2020 Total segment operating profit: $ 146,155 $ 111,225 Unallocated amounts: Stock-based compensation expense (24,553) (11,881) Amortization of intangibles assets (3,140) (3,135) Other acquisition-related expenses (1,933) (468) Other unallocated expenses (9,278) (8,232) Income from operations 107,251 87,509 Interest and other income, net 5,374 2,386 Foreign exchange gain 2,299 6,524 Income before provision for income taxes $ 114,924 $ 96,419
Physical Location and Values of Long-Lived Assets	Physical locations and values of the Company’s long-lived assets are presented below: As of As of Belarus $ 72,805 $ 73,988 Ukraine 28,621 30,980 United States 15,643 15,718 Russia 13,739 15,036 India 7,182 7,079 Poland 5,610 5,434 Hungary 4,840 5,365 Spain 2,670 2,799 China 2,409 2,722 Mexico 2,396 2,419 Other 8,834 7,993 Total $ 164,749 $ 169,533
Revenues by Customer Location	The table below presents information about the Company’s revenues by customer location for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 United States $ 448,021 $ 370,089 United Kingdom 93,464 92,132 Switzerland 67,568 47,222 Netherlands 33,032 25,909 Russia 27,656 21,961 Germany 22,025 20,193 Canada 21,835 17,920 Other locations 67,174 55,933 Total $ 780,775 $ 651,359

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss: Three Months Ended 2021 2020 Foreign currency translation Beginning balance $ (28,168) $ (32,666) Foreign currency translation (13,581) (35,332) Income tax benefit 3,050 6,813 Foreign currency translation, net of tax (10,531) (28,519) Ending balance $ (38,699) $ (61,185) Cash flow hedging instruments Beginning balance $ 3,642 $ 1,292 Unrealized loss in fair value (7,346) (11,428) Net gain/(loss) reclassified into Cost of revenues (exclusive of depreciation and amortization) 2,066 (660) Income tax benefit 1,199 2,720 Cash flow hedging instruments, net of tax (4,081) (9,368) Ending balance (1) $ (439) $ (8,076) Defined benefit plans Beginning balance $ (986) $ — Actuarial losses (811) — Income tax benefit 185 — Defined benefit plans, net of tax (626) — Ending balance $ (1,612) $ — Accumulated other comprehensive loss $ (40,750) $ (69,261)

ACQUISITION (Narrative) (Detail

ACQUISITION (Narrative) (Details) - 2020 Acquisitions $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)business
Business Acquisition [Line Items]
Number of acquisitions | business	2
Purchase price including contingent consideration	$ 22.5
Contingent consideration fair value	5.3
Maximum amount of earnout payable	18.6
Intangible assets	$ 7.3

GOODWILL (Goodwill Roll Forward

GOODWILL (Goodwill Roll Forward) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Balance as of January 1, 2021	$ 211,956
2020 acquisitions purchase accounting adjustments	(24)
Effect of net foreign currency exchange rate changes	(1,051)
Balance as of March 31, 2021	210,881
North America
Goodwill [Roll Forward]
Balance as of January 1, 2021	121,132
2020 acquisitions purchase accounting adjustments	0
Effect of net foreign currency exchange rate changes	(353)
Balance as of March 31, 2021	120,779
Europe
Goodwill [Roll Forward]
Balance as of January 1, 2021	90,106
2020 acquisitions purchase accounting adjustments	(24)
Effect of net foreign currency exchange rate changes	(692)
Balance as of March 31, 2021	89,390
Russia
Goodwill [Roll Forward]
Balance as of January 1, 2021	718
2020 acquisitions purchase accounting adjustments	0
Effect of net foreign currency exchange rate changes	(6)
Balance as of March 31, 2021	$ 712

GOODWILL (Goodwill Accumulated

GOODWILL (Goodwill Accumulated Impairment Losses) (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
North America
Goodwill [Line Items]
Accumulated impairment loss	$ 0	$ 0
Europe
Goodwill [Line Items]
Accumulated impairment loss	0	0
Russia
Goodwill [Line Items]
Accumulated impairment loss	$ 2,200,000	$ 2,200,000

FAIR VALUE MEASUREMENTS (Financ

FAIR VALUE MEASUREMENTS (Financial Assets and Liabilities at Fair Value on Recurring Basis) (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Financial Assets:
Total assets measured at fair value on a recurring basis	$ 1,543	$ 4,955
Financial Liabilities:
Contingent consideration	2,526	7,470
Total liabilities measured at fair value on a recurring basis	4,637	7,713
Foreign exchange contracts
Financial Assets:
Derivative assets	1,543	4,955
Financial Liabilities:
Derivative liabilities	2,111	243
Level 1
Financial Assets:
Total assets measured at fair value on a recurring basis	0	0
Financial Liabilities:
Contingent consideration	0	0
Total liabilities measured at fair value on a recurring basis	0	0
Level 1 | Foreign exchange contracts
Financial Assets:
Derivative assets	0	0
Financial Liabilities:
Derivative liabilities	0	0
Level 2
Financial Assets:
Total assets measured at fair value on a recurring basis	1,543	4,955
Financial Liabilities:
Contingent consideration	0	0
Total liabilities measured at fair value on a recurring basis	2,111	243
Level 2 | Foreign exchange contracts
Financial Assets:
Derivative assets	1,543	4,955
Financial Liabilities:
Derivative liabilities	2,111	243
Level 3
Financial Assets:
Total assets measured at fair value on a recurring basis	0	0
Financial Liabilities:
Contingent consideration	2,526	7,470
Total liabilities measured at fair value on a recurring basis	2,526	7,470
Level 3 | Foreign exchange contracts
Financial Assets:
Derivative assets	0	0
Financial Liabilities:
Derivative liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Acquis

FAIR VALUE MEASUREMENTS (Acquisition-Related Contingent Consideration Roll Forward) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Discount rate | 2020 Acquisitions | Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input to determine fair value of contingent consideration	0.155
Discount rate | 2020 Acquisitions | Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input to determine fair value of contingent consideration	0.175
Level 3
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Contingent consideration liabilities as of January 1, 2021	$ 7,470
Contingent consideration liabilities as of March 31, 2021	2,526
Level 3 | Interest and other income, net
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Changes in the fair value of contingent consideration	$ (4,944)

FAIR VALUE MEASUREMENTS (Estima

FAIR VALUE MEASUREMENTS (Estimated Fair Values of the Financial Assets and Liabilities not Measured at Fair Value on a Recurring Basis) (Details) - Recurring - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance
Financial Assets:
Cash equivalents:	$ 135,706	$ 153,783
Restricted cash	1,465	1,390
Employee loans	692	794
Balance | Money market funds
Financial Assets:
Cash equivalents:	135,706	153,783
Balance | Time deposits included in Short-term investments
Financial Assets:
Short-term investments		60,007
Balance | Revolving credit facility | Credit Facility 2017
Financial Liabilities:
Borrowings	25,008	25,007
Estimated Fair Value
Financial Assets:
Cash equivalents:	135,706	153,783
Restricted cash	1,465	1,390
Employee loans	692	794
Estimated Fair Value | Money market funds
Financial Assets:
Cash equivalents:	135,706	153,783
Estimated Fair Value | Time deposits included in Short-term investments
Financial Assets:
Short-term investments		60,007
Estimated Fair Value | Revolving credit facility | Credit Facility 2017
Financial Liabilities:
Borrowings	25,008	25,007
Estimated Fair Value | Level 1
Financial Assets:
Cash equivalents:	135,706	153,783
Restricted cash	1,465	1,390
Employee loans	0	0
Estimated Fair Value | Level 1 | Money market funds
Financial Assets:
Cash equivalents:	135,706	153,783
Estimated Fair Value | Level 1 | Time deposits included in Short-term investments
Financial Assets:
Short-term investments		0
Estimated Fair Value | Level 1 | Revolving credit facility | Credit Facility 2017
Financial Liabilities:
Borrowings	0	0
Estimated Fair Value | Level 2
Financial Assets:
Cash equivalents:	0	0
Restricted cash	0	0
Employee loans	0	0
Estimated Fair Value | Level 2 | Money market funds
Financial Assets:
Cash equivalents:	0	0
Estimated Fair Value | Level 2 | Time deposits included in Short-term investments
Financial Assets:
Short-term investments		60,007
Estimated Fair Value | Level 2 | Revolving credit facility | Credit Facility 2017
Financial Liabilities:
Borrowings	25,008	25,007
Estimated Fair Value | Level 3
Financial Assets:
Cash equivalents:	0	0
Restricted cash	0	0
Employee loans	692	794
Estimated Fair Value | Level 3 | Money market funds
Financial Assets:
Cash equivalents:	0	0
Estimated Fair Value | Level 3 | Time deposits included in Short-term investments
Financial Assets:
Short-term investments		0
Estimated Fair Value | Level 3 | Revolving credit facility | Credit Facility 2017
Financial Liabilities:
Borrowings	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Equity

FAIR VALUE MEASUREMENTS (Equity Securities Without Readily Determinable Fair Value) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Restricted cash in Other noncurrent assets
Equity Securities without Readily Determinable Fair Value [Line Items]
Carrying amount of equity securities that do not have readily determinable fair values	$ 26	$ 25

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Details) - Foreign exchange contracts - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Derivatives, Fair Value [Line Items]
Financial collateral (including cash collateral) required to be posted	$ 0
Designated as hedging instruments | Cash flow hedging | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	1,543,000	$ 4,955,000
Designated as hedging instruments | Cash flow hedging | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 2,111,000	$ 243,000

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) $ in Millions	Mar. 31, 2021USD ($)
Lessee, Lease, Description [Line Items]
Commitments related to operating lease agreements that have not yet commenced	$ 1.2
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month 6 days
Lease term of lease agreements that have not yet commenced	7 months 6 days
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	10 years 1 month 6 days
Lease term of lease agreements that have not yet commenced	5 years

LEASES (Components of Lease Exp

LEASES (Components of Lease Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Lessee, Lease, Description [Line Items]
Total lease cost	$ 19,694	$ 22,038
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	17,256	18,863
Variable lease cost	2,260	2,635
Short-term lease cost	$ 178	$ 540

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 17,645	$ 16,891
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	38	31,252
Non-cash net (decrease)/ increase due to lease modifications:
Operating lease right-of-use assets	(1,066)	4,584
Operating lease liabilities	$ (1,066)	$ 4,573

LEASES (Weighted Average Lease

LEASES (Weighted Average Lease Terms and Discount Rates) (Details)	Mar. 31, 2021	Mar. 31, 2020
Weighted average remaining lease term, in years:
Operating leases	5 years 9 months 18 days	6 years
Weighted average discount rate:
Operating leases	3.00%	3.30%

LEASES (Maturity of Operating L

LEASES (Maturity of Operating Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2021USD ($)
Leases [Abstract]
2021 (excluding three months ended March 31, 2021)	$ 47,591
2022	48,143
2023	36,318
2024	31,510
2025	22,110
Thereafter	50,842
Total lease payments	236,514
Less: imputed interest	(18,330)
Total	$ 218,184

LONG-TERM DEBT (Details)

LONG-TERM DEBT (Details) - Credit Facility 2017 - Revolving credit facility - USD ($)	May 24, 2017	Mar. 31, 2021	Dec. 31, 2020
Overnight Bank Funding Rate
Debt Instrument [Line Items]
Variable interest rate spread	0.50%
Daily LIBOR Rate
Debt Instrument [Line Items]
Variable interest rate spread	1.00%
U.S. dollars
Debt Instrument [Line Items]
Borrowing capacity	$ 300,000,000
Current maximum borrowing capacity	400,000,000	$ 300,000,000	$ 300,000,000
Outstanding debt		$ 25,000,000	$ 25,000,000
Interest rate		1.10%	1.20%
Available borrowing capacity		$ 275,000,000	$ 275,000,000
Other currencies, excluding U.S. dollars
Debt Instrument [Line Items]
Current maximum borrowing capacity	$ 100,000,000

REVENUES (Disaggregation of Rev

REVENUES (Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenues	$ 780,775	$ 651,359
Revenues from performance obligations satisfied in previous period	15,200	5,800
Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	665,005	561,179
Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	111,282	85,931
Licensing
Disaggregation of Revenue [Line Items]
Revenues	3,670	3,390
Other revenues
Disaggregation of Revenue [Line Items]
Revenues	818	859
Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	778,295	648,449
Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	2,480	2,910
Financial Services
Disaggregation of Revenue [Line Items]
Revenues	168,858	131,643
Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	147,749	138,726
Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	147,064	121,849
Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	139,011	119,530
Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	91,115	69,239
Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	86,978	70,372
North America
Disaggregation of Revenue [Line Items]
Revenues	470,321	389,830
Europe
Disaggregation of Revenue [Line Items]
Revenues	259,372	223,057
CIS
Disaggregation of Revenue [Line Items]
Revenues	30,134	24,860
APAC
Disaggregation of Revenue [Line Items]
Revenues	20,948	13,612
North America
Disaggregation of Revenue [Line Items]
Revenues	474,853	391,102
North America | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	417,887	357,263
North America | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	53,015	31,855
North America | Licensing
Disaggregation of Revenue [Line Items]
Revenues	3,535	1,770
North America | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	416	214
North America | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	472,374	389,810
North America | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	2,479	1,292
North America | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	69,740	47,868
North America | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	87,205	80,220
North America | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	125,586	101,737
North America | Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	69,429	54,724
North America | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	75,589	61,611
North America | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	47,304	44,942
North America | North America
Disaggregation of Revenue [Line Items]
Revenues	454,767	377,784
North America | Europe
Disaggregation of Revenue [Line Items]
Revenues	17,755	10,332
North America | CIS
Disaggregation of Revenue [Line Items]
Revenues	1,856	2,554
North America | APAC
Disaggregation of Revenue [Line Items]
Revenues	475	432
Europe
Disaggregation of Revenue [Line Items]
Revenues	276,704	236,333
Europe | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	232,691	190,320
Europe | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	43,566	45,255
Europe | Licensing
Disaggregation of Revenue [Line Items]
Revenues	54	162
Europe | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	393	596
Europe | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	276,731	236,171
Europe | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	(27)	162
Europe | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	78,040	67,594
Europe | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	60,157	58,146
Europe | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	20,973	18,146
Europe | Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	64,624	61,067
Europe | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	15,351	7,619
Europe | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	37,559	23,761
Europe | North America
Disaggregation of Revenue [Line Items]
Revenues	14,663	10,419
Europe | Europe
Disaggregation of Revenue [Line Items]
Revenues	241,554	212,722
Europe | CIS
Disaggregation of Revenue [Line Items]
Revenues	14	12
Europe | APAC
Disaggregation of Revenue [Line Items]
Revenues	20,473	13,180
Russia
Disaggregation of Revenue [Line Items]
Revenues	29,218	23,924
Russia | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	14,427	13,596
Russia | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	14,701	8,821
Russia | Licensing
Disaggregation of Revenue [Line Items]
Revenues	81	1,458
Russia | Other revenues
Disaggregation of Revenue [Line Items]
Revenues	9	49
Russia | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	29,190	22,468
Russia | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	28	1,456
Russia | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	21,078	16,181
Russia | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	387	360
Russia | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	505	1,966
Russia | Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	4,958	3,739
Russia | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	175	9
Russia | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	2,115	1,669
Russia | North America
Disaggregation of Revenue [Line Items]
Revenues	891	1,627
Russia | Europe
Disaggregation of Revenue [Line Items]
Revenues	63	3
Russia | CIS
Disaggregation of Revenue [Line Items]
Revenues	28,264	22,294
Russia | APAC
Disaggregation of Revenue [Line Items]
Revenues	$ 0	$ 0

REVENUES (Revenue Expected to b

REVENUES (Revenue Expected to be Recognized in Future Related to Remaining Performance Obligations) (Details) - Fixed-price $ in Thousands	Mar. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 28,128
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 25,409
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 2,493
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 226
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 0
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

REVENUES (Contract Balances) (D

REVENUES (Contract Balances) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 11,000	$ 6,500
Trade receivables and contract assets
Change in Contract with Customer, Liability [Abstract]
Contract assets	19,991		$ 7,700
Accounts Payable and Accrued Liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	22,371		17,383
Other Noncurrent Liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	$ 329		$ 94

STOCK-BASED COMPENSATION (Compo

STOCK-BASED COMPENSATION (Components of Stock-Based Compensation Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 24,553	$ 11,881
Cost of revenues (exclusive of depreciation and amortization)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	11,117	3,984
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 13,436	$ 7,897

STOCK-BASED COMPENSATION (Stock

STOCK-BASED COMPENSATION (Stock Options Activity) (Details) - Employee Stock Option $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)$ / sharesshares
Number of Options
Beginning balance (in shares) | shares	2,772
Options granted (in shares) | shares	81
Options exercised (in shares) | shares	(109)
Options forfeited/cancelled (in shares) | shares	(3)
Ending balance (in shares) | shares	2,741
Options vested and exercisable at March 31, 2021 (in shares) | shares	2,428
Options expected to vest at March 31, 2021 (in shares) | shares	287
Weighted Average Exercise Price
Options outstanding at January 1, 2021 (in dollars per share) | $ / shares	$ 61.71
Options granted (in dollars per share) | $ / shares	387.93
Options exercised (in dollars per share) | $ / shares	40.71
Options forfeited/cancelled (in dollars per share) | $ / shares	180.85
Options outstanding at March 31, 2021 (in dollars per share) | $ / shares	72.08
Options vested and exercisable at March 31, 2021 (in dollars per share) | $ / shares	52.25
Options expected to vest at March 31, 2021 (in dollars per share) | $ / shares	$ 223.44
Aggregate Intrinsic Value
Options outstanding at March 31, 2021 | $	$ 889,755
Options vested and exercisable as of March 31, 2021 | $	836,146
Options expected to vest as of March 31, 2021 | $	$ 49,712
Weighted Average Remaining Contractual Term (in years)
Options outstanding at March 31, 2021	4 years 3 months 18 days
Options vested and exercisable as of March 31, 2021	3 years 8 months 12 days
Options expected to vest as of March 31, 2021	8 years 8 months 12 days

STOCK-BASED COMPENSATION (Sto_2

STOCK-BASED COMPENSATION (Stock Option Additional Information) (Details) - Employee Stock Option $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 23.2
Weighted-average remaining requisite service period	3 years 2 months 12 days

STOCK-BASED COMPENSATION (Restr

STOCK-BASED COMPENSATION (Restricted Stock and Restricted Stock Units Activity) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Service Period | Equity Classified Award | Equity-Settled Award | Restricted Stock
Number of Shares
Unvested awards outstanding at January 1, 2021 (in shares) | shares	9
Awards granted (in shares) | shares	0
Awards vested (in shares) | shares	0
Awards forfeited/cancelled (in shares) | shares	0
Unvested awards outstanding at March 31, 2021 (in shares) | shares	9
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at January 1, 2021 | $ / shares	$ 167.18
Awards granted | $ / shares	0
Awards vested | $ / shares	0
Awards forfeited/cancelled | $ / shares	0
Unvested awards outstanding at March 31, 2021 | $ / shares	$ 167.18
Service Period | Equity Classified Award | Equity-Settled Award | Restricted stock units
Number of Shares
Unvested awards outstanding at January 1, 2021 (in shares) | shares	686
Awards granted (in shares) | shares	161
Awards vested (in shares) | shares	(248)
Awards forfeited/cancelled (in shares) | shares	(6)
Unvested awards outstanding at March 31, 2021 (in shares) | shares	593
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at January 1, 2021 | $ / shares	$ 162.15
Awards granted | $ / shares	387.51
Awards vested | $ / shares	129.61
Awards forfeited/cancelled | $ / shares	179.08
Unvested awards outstanding at March 31, 2021 | $ / shares	$ 236.71
Service Period | Liability Classified Award | Cash-Settled Award | Restricted stock units
Number of Shares
Unvested awards outstanding at January 1, 2021 (in shares) | shares	175
Awards granted (in shares) | shares	26
Awards vested (in shares) | shares	(77)
Awards forfeited/cancelled (in shares) | shares	0
Unvested awards outstanding at March 31, 2021 (in shares) | shares	124
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at January 1, 2021 | $ / shares	$ 141.16
Awards granted | $ / shares	387.74
Awards vested | $ / shares	119.40
Awards forfeited/cancelled | $ / shares	148.68
Unvested awards outstanding at March 31, 2021 | $ / shares	$ 206
Performance Target | Equity Classified Award | Equity-Settled Award | Restricted Stock
Number of Shares
Unvested awards outstanding at January 1, 2021 (in shares) | shares	9
Awards granted (in shares) | shares	0
Unvested awards outstanding at March 31, 2021 (in shares) | shares	9
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at January 1, 2021 | $ / shares	$ 165.87
Awards granted | $ / shares	0
Unvested awards outstanding at March 31, 2021 | $ / shares	$ 165.87
Performance Target | Equity Classified Award | Equity-Settled Award | Restricted stock units
Number of Shares
Unvested awards outstanding at January 1, 2021 (in shares) | shares	21
Awards granted (in shares) | shares	0
Unvested awards outstanding at March 31, 2021 (in shares) | shares	21
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at January 1, 2021 | $ / shares	$ 227.16
Awards granted | $ / shares	0
Unvested awards outstanding at March 31, 2021 | $ / shares	$ 227.16

STOCK-BASED COMPENSATION (Res_2

STOCK-BASED COMPENSATION (Restricted Stock and Restricted Stock Units Additional Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Service Period | Equity Classified Award | Equity-Settled Award | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 0.7
Weighted-average remaining requisite service period	1 year 4 months 24 days
Service Period | Equity Classified Award | Equity-Settled Award | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 118.9
Weighted-average remaining requisite service period	3 years 2 months 12 days
Service Period | Liability Classified Award | Cash-Settled Award | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 38.1
Weighted-average remaining requisite service period	2 years 8 months 12 days
Performance Target | Equity Classified Award | Equity-Settled Award | Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 0.9
Weighted-average remaining requisite service period	2 years 4 months 24 days
Performance Target | Equity Classified Award | Equity-Settled Award | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 2.9
Weighted-average remaining requisite service period	2 years 6 months
Accrued compensation and benefits expenses | Service Period | Liability Classified Award | Cash-Settled Award | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability associated with RSUs	$ 15.3	$ 26.8

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Effective tax rate	5.10%	11.30%
Excess tax benefit	$ 21.5	$ 11.7

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator for basic and diluted earnings per share:
Net income	$ 109,046	$ 85,565
Numerator for basic and diluted earnings per share	$ 109,046	$ 85,565
Denominator:
Weighted average common shares for basic earnings per share (in shares)	56,170	55,287
Net effect of dilutive stock options, restricted stock units and restricted stock awards (in shares)	2,608	2,856
Weighted average common shares for diluted earnings per share (in shares)	58,778	58,143
Net income per share:
Basic (in dollars per share)	$ 1.94	$ 1.55
Diluted (in dollars per share)	$ 1.86	$ 1.47
Anti-dilutive options not included in the calculation (in shares)	16	9

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Building Acquisition Commitments) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Office Space Purchase Commitment | Ukraine
Other Commitments [Line Items]
Total commitment amount	$ 36.9

SEGMENT INFORMATION (Revenues f

SEGMENT INFORMATION (Revenues from External Customers and Operating Profit Before Unallocated Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 780,775	$ 651,359
Segment operating profit	107,251	87,509
Operating Segments
Segment Reporting Information [Line Items]
Segment operating profit	146,155	111,225
North America
Segment Reporting Information [Line Items]
Revenues	474,853	391,102
North America | Operating Segments
Segment Reporting Information [Line Items]
Segment operating profit	94,103	78,927
Europe
Segment Reporting Information [Line Items]
Revenues	276,704	236,333
Europe | Operating Segments
Segment Reporting Information [Line Items]
Segment operating profit	51,073	31,779
Russia
Segment Reporting Information [Line Items]
Revenues	29,218	23,924
Russia | Operating Segments
Segment Reporting Information [Line Items]
Segment operating profit	$ 979	$ 519

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation of Segment Operating Profit to Consolidated Income Before Provision for Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating profit	$ 107,251	$ 87,509
Stock-based compensation expense	(24,553)	(11,881)
Interest and other income, net	5,374	2,386
Foreign exchange gain	2,299	6,524
Income before provision for income taxes	114,924	96,419
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Segment operating profit	146,155	111,225
Unallocated Amounts
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Stock-based compensation expense	(24,553)	(11,881)
Amortization of intangibles assets	(3,140)	(3,135)
Other acquisition-related expenses	(1,933)	(468)
Other unallocated expenses	$ (9,278)	$ (8,232)

SEGMENT INFORMATION (Physical L

SEGMENT INFORMATION (Physical Location and Values of Long-Lived Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 164,749	$ 169,533
Belarus
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	72,805	73,988
Ukraine
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	28,621	30,980
United States
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	15,643	15,718
Russia
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	13,739	15,036
India
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	7,182	7,079
Poland
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	5,610	5,434
Hungary
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	4,840	5,365
Spain
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	2,670	2,799
China
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	2,409	2,722
Mexico
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	2,396	2,419
Other
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 8,834	$ 7,993

SEGMENT INFORMATION (Revenues b

SEGMENT INFORMATION (Revenues by Customer Location) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 780,775	$ 651,359
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	448,021	370,089
United Kingdom
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	93,464	92,132
Switzerland
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	67,568	47,222
Netherlands
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	33,032	25,909
Russia
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	27,656	21,961
Germany
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	22,025	20,193
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	21,835	17,920
Other locations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 67,174	$ 55,933

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 1,983,018	$ 1,596,145
Other comprehensive loss	(15,238)	(37,887)
Ending balance	2,063,939	1,647,482
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(28,168)	(32,666)
Foreign currency translation	(13,581)	(35,332)
Income tax benefit	3,050	6,813
Other comprehensive loss	(10,531)	(28,519)
Ending balance	(38,699)	(61,185)
Cash flow hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	3,642	1,292
Unrealized loss in fair value	(7,346)	(11,428)
Actuarial losses	2,066	(660)
Income tax benefit	1,199	2,720
Other comprehensive loss	(4,081)	(9,368)
Ending balance	(439)	(8,076)
Defined benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(986)	0
Income tax benefit	185	0
Other comprehensive loss	(626)	0
Ending balance	(1,612)	0
Actuarial losses
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Actuarial losses	(811)	0
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(25,512)	(31,374)
Other comprehensive loss	(15,238)	(37,887)
Ending balance	$ (40,750)	$ (69,261)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - Subsequent Event $ in Millions	Apr. 02, 2021USD ($)	May 06, 2021USD ($)
PolSource S.A.
Subsequent Event [Line Items]
Percentage of voting interests acquired	100.00%
Number of specialists in acquired entity	350
Payments to acquire businesses	$ 111.8
Earn-out consideration based on achievements of certain revenue, earnings and operational targets	45
PolSource S.A. | Restricted stock units
Subsequent Event [Line Items]
Equity granted	12.8
PolSource S.A. | Phantom Share Units (PSUs)
Subsequent Event [Line Items]
Equity granted	$ 2.2
Two Business Acquisitions
Subsequent Event [Line Items]
Payments to acquire businesses		$ 13.8
Earn-out consideration based on achievements of certain revenue, earnings and operational targets		$ 10.8
Number of acquisitions		2
Two Business Acquisitions | Restricted stock units
Subsequent Event [Line Items]
Equity granted		$ 9.6

Uncategorized Items - epam-2021

Label	Element	Value
Accounting Standards Update [Extensible List]	us-gaap_AccountingStandardsUpdateExtensibleList	us-gaap:AccountingStandardsUpdate201613Member