EPAM Systems (EPAM) 10-Q 2 Nov 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 31, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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 Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		57,700,476
Entity Central Index Key	0001352010
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 1,872,977	$ 1,681,344
Trade receivables and contract assets, net of allowance of $10,884 and $15,310, respectively	913,029	932,626
Short-term investments	60,431	60,336
Prepaid and other current assets	78,851	85,319
Total current assets	2,925,288	2,759,625
Property and equipment, net	239,654	273,348
Operating lease right-of-use assets, net	136,311	148,780
Intangible assets, net	69,730	77,652
Goodwill	548,177	529,072
Deferred tax assets	187,524	172,797
Other noncurrent assets	55,588	47,877
Total assets	4,162,272	4,009,151
Current liabilities
Accounts payable	25,415	30,852
Accrued compensation and benefits expenses	392,417	475,871
Accrued expenses and other current liabilities	127,898	154,339
Income taxes payable, current	29,554	46,069
Operating lease liabilities, current	38,294	40,352
Total current liabilities	613,578	747,483
Long-term debt	27,500	27,693
Operating lease liabilities, noncurrent	108,332	122,317
Other noncurrent liabilities	112,844	108,648
Total liabilities	862,254	1,006,141
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, $0.001 par value; 160,000 shares authorized; 57,706 and 57,668 shares issued, 57,693 and 57,655 shares outstanding at September 30, 2023 and December 31, 2022, respectively	58	58
Additional paid-in capital	951,086	847,965
Retained earnings	2,440,043	2,248,948
Treasury stock	(118)	(118)
Accumulated other comprehensive loss	(91,630)	(95,321)
Total EPAM Systems, Inc. stockholders’ equity	3,299,439	3,001,532
Noncontrolling interest in consolidated subsidiaries	579	1,478
Total equity	3,300,018	3,003,010
Total liabilities and equity	$ 4,162,272	$ 4,009,151

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets
Trade receivables and contract assets allowance	$ 10,884	$ 15,310
Stockholders' equity
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	160,000,000	160,000,000
Common stock, shares issued (in shares)	57,706,000	57,668,000
Common stock, shares outstanding (in shares)	57,693,000	57,655,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Statement [Abstract]
Revenues	$ 1,152,136	$ 1,226,920	$ 3,533,283	$ 3,593,395
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization)	794,265	826,796	2,458,881	2,453,955
Selling, general and administrative expenses	194,829	198,021	601,093	667,825
Depreciation and amortization expense	23,092	21,876	68,642	69,126
Loss on sale of business	25,922	0	25,922	0
Income from operations	114,028	180,227	378,745	402,489
Interest and other income, net	13,931	4,228	37,162	5,642
Foreign exchange gain/(loss)	3,893	6,691	(6,725)	(102,035)
Income before provision for income taxes	131,852	191,146	409,182	306,096
Provision for income taxes	34,648	35,092	89,653	41,719
Net income	$ 97,204	$ 156,054	$ 319,529	$ 264,377
Net income per share:
Basic (in usd per share)	$ 1.68	$ 2.72	$ 5.52	$ 4.62
Diluted (in usd per share)	$ 1.65	$ 2.63	$ 5.40	$ 4.47
Shares used in calculation of net income per share:
Basic (in shares)	57,853	57,420	57,850	57,194
Diluted (in shares)	58,948	59,357	59,143	59,108

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 97,204	$ 156,054	$ 319,529	$ 264,377
Other comprehensive (loss)/income:
Change in foreign currency translation adjustments, net of tax	(5,801)	(56,923)	14,821	(72,645)
Change in unrealized loss on hedging instruments, net of tax	(13,744)	(5,352)	(11,130)	(11,780)
Other comprehensive (loss)/income	(19,545)	(62,275)	3,691	(84,425)
Comprehensive income	$ 77,659	$ 93,779	$ 323,220	$ 179,952

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Common Stock Restricted Stock Units	Additional Paid-in Capital	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive (Loss)/Income	Non-controlling interest in consolidated subsidiaries
Balance, beginning of period (in shares) at Dec. 31, 2021		56,849
Balance, beginning of period at Dec. 31, 2021	$ 2,495,837	$ 57		$ 711,912	$ 1,829,532	$ (177)	$ (54,207)	$ 8,720
Treasury stock, beginning of period (in shares) at Dec. 31, 2021						20
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			193
Equity withheld for employee taxes (in shares)		(67)
Equity withheld for employee taxes	(18,376)			(18,376)
Stock-based compensation expense	22,702			22,702
Exercise of stock options (in shares)		158
Exercise of stock options	2,884			2,884
Purchase of subsidiary shares from noncontrolling interest	(7,067)							(7,067)
Other comprehensive income (loss)	(31,943)						(31,943)
Net income	89,719				89,719
Balance, end of period (in shares) at Mar. 31, 2022		57,133
Balance, end of period at Mar. 31, 2022	2,553,756	$ 57		719,122	1,919,251	$ (177)	(86,150)	1,653
Treasury stock, end of period (in shares) at Mar. 31, 2022						20
Balance, beginning of period (in shares) at Dec. 31, 2021		56,849
Balance, beginning of period at Dec. 31, 2021	2,495,837	$ 57		711,912	1,829,532	$ (177)	(54,207)	8,720
Treasury stock, beginning of period (in shares) at Dec. 31, 2021						20
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Other comprehensive income (loss)	(84,425)
Net income	264,377
Balance, end of period (in shares) at Sep. 30, 2022		57,502
Balance, end of period at Sep. 30, 2022	2,758,644	$ 57		801,950	2,093,909	$ (118)	(138,632)	1,478
Treasury stock, end of period (in shares) at Sep. 30, 2022						14
Balance, beginning of period (in shares) at Mar. 31, 2022		57,133
Balance, beginning of period at Mar. 31, 2022	2,553,756	$ 57		719,122	1,919,251	$ (177)	(86,150)	1,653
Treasury stock, beginning of period (in shares) at Mar. 31, 2022						20
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			24
Equity withheld for employee taxes (in shares)		(6)
Equity withheld for employee taxes	(1,843)			(1,843)
Stock-based compensation expense	24,902			24,902
Exercise of stock options (in shares)		147
Exercise of stock options	6,410			6,410
Issuance of common stock from employee stock purchase plan (in shares)		55
Issuance of common stock from employee stock purchase plan	12,384			12,384
Other comprehensive income (loss)	9,793						9,793
Net income	18,604				18,604
Balance, end of period (in shares) at Jun. 30, 2022		57,353
Balance, end of period at Jun. 30, 2022	2,624,006	$ 57		760,975	1,937,855	$ (177)	(76,357)	1,653
Treasury stock, end of period (in shares) at Jun. 30, 2022						20
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			8
Equity withheld for employee taxes (in shares)		(2)
Equity withheld for employee taxes	(837)			(837)
Stock issued in connection with Other 2021 acquisitions (Note 3) (in shares)		6				(6)
Stock issued in connection with Other 2021 acquisitions	2,000			1,941		$ 59
Stock-based compensation expense	30,597			30,597
Exercise of stock options (in shares)		137
Exercise of stock options	9,223			9,223
Purchase of subsidiary shares from noncontrolling interest	(197)			51				(248)
Contributions to consolidated subsidiary from noncontrolling interest	73							73
Other comprehensive income (loss)	(62,275)						(62,275)
Net income	156,054				156,054
Balance, end of period (in shares) at Sep. 30, 2022		57,502
Balance, end of period at Sep. 30, 2022	$ 2,758,644	$ 57		801,950	2,093,909	$ (118)	(138,632)	1,478
Treasury stock, end of period (in shares) at Sep. 30, 2022						14
Balance, beginning of period (in shares) at Dec. 31, 2022	57,655	57,655
Balance, beginning of period at Dec. 31, 2022	$ 3,003,010	$ 58		847,965	2,248,948	$ (118)	(95,321)	1,478
Treasury stock, beginning of period (in shares) at Dec. 31, 2022						14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			224
Equity withheld for employee taxes (in shares)		(72)
Equity withheld for employee taxes	(20,501)			(20,501)
Stock-based compensation expense	34,265			34,265
Exercise of stock options (in shares)		71
Exercise of stock options	2,525			2,525
Repurchase of common stock (in shares)		(30)
Repurchase of common stock	(8,510)				(8,510)
Other comprehensive income (loss)	17,361						17,361
Net income	102,292				102,292
Balance, end of period (in shares) at Mar. 31, 2023		57,848
Balance, end of period at Mar. 31, 2023	$ 3,130,442	$ 58		864,254	2,342,730	$ (118)	(77,960)	1,478
Treasury stock, end of period (in shares) at Mar. 31, 2023						14
Balance, beginning of period (in shares) at Dec. 31, 2022	57,655	57,655
Balance, beginning of period at Dec. 31, 2022	$ 3,003,010	$ 58		847,965	2,248,948	$ (118)	(95,321)	1,478
Treasury stock, beginning of period (in shares) at Dec. 31, 2022						14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of stock options (in shares)	292
Other comprehensive income (loss)	$ 3,691
Net income	$ 319,529
Balance, end of period (in shares) at Sep. 30, 2023	57,693	57,693
Balance, end of period at Sep. 30, 2023	$ 3,300,018	$ 58		951,086	2,440,043	$ (118)	(91,630)	579
Treasury stock, end of period (in shares) at Sep. 30, 2023						14
Balance, beginning of period (in shares) at Mar. 31, 2023		57,848
Balance, beginning of period at Mar. 31, 2023	3,130,442	$ 58		864,254	2,342,730	$ (118)	(77,960)	1,478
Treasury stock, beginning of period (in shares) at Mar. 31, 2023						14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			76
Equity withheld for employee taxes (in shares)		(21)
Equity withheld for employee taxes	(6,142)			(6,142)
Stock-based compensation expense	32,449			32,449
Exercise of stock options (in shares)		170
Exercise of stock options	4,601			4,601
Issuance of common stock from employee stock purchase plan (in shares)		77
Issuance of common stock from employee stock purchase plan	18,466			18,466
Repurchase of common stock (in shares)		(195)
Repurchase of common stock	(41,437)				(41,437)
Purchase of subsidiary shares from noncontrolling interest	(1,453)			(48)				(1,405)
Contributions to consolidated subsidiary from noncontrolling interest	506							506
Other comprehensive income (loss)	5,875						5,875
Net income	120,033				120,033
Balance, end of period (in shares) at Jun. 30, 2023		57,955
Balance, end of period at Jun. 30, 2023	3,263,340	$ 58		913,580	2,421,326	$ (118)	(72,085)	579
Treasury stock, end of period (in shares) at Jun. 30, 2023						14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			7
Equity withheld for employee taxes (in shares)		(2)
Equity withheld for employee taxes	(426)			(426)
Stock-based compensation expense	34,949			34,949
Exercise of stock options (in shares)		51
Exercise of stock options	2,983			2,983
Repurchase of common stock (in shares)		(318)
Repurchase of common stock	(78,487)				(78,487)
Other comprehensive income (loss)	(19,545)						(19,545)
Net income	$ 97,204				97,204
Balance, end of period (in shares) at Sep. 30, 2023	57,693	57,693
Balance, end of period at Sep. 30, 2023	$ 3,300,018	$ 58		$ 951,086	$ 2,440,043	$ (118)	$ (91,630)	$ 579
Treasury stock, end of period (in shares) at Sep. 30, 2023						14

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 319,529	$ 264,377
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	68,642	69,126
Operating lease right-of-use assets amortization expense	30,842	37,336
Bad debt expense	2,739	12,888
Deferred taxes	(11,760)	(54,851)
Stock-based compensation expense	109,536	68,292
Unrealized (gain)/loss on derivative instruments	(7,904)	20,469
Impairment charges	688	21,212
Loss on sale of business	25,922	0
Other	1,106	63,914
Changes in assets and liabilities:
Trade receivables and contract assets	6,145	(196,675)
Prepaid and other assets	13,208	(7,787)
Accounts payable	837	8,769
Accrued expenses and other liabilities	(95,570)	(7,100)
Operating lease liabilities	(34,310)	(41,395)
Income taxes payable	(38,385)	19,460
Net cash provided by operating activities	391,265	278,035
Cash flows from investing activities:
Purchases of property and equipment	(18,420)	(60,134)
Purchases of short-term investments	(10,865)	(60,000)
Proceeds from short-term investments	10,865	0
Acquisition of business, net of cash acquired (Note 3)	(13,997)	(10,530)
Cash sold as part of sale of business, net of proceeds	(2,169)	0
Purchases of non-marketable securities	(3,281)	(1,625)
Other investing activities, net	(8,204)	(19,499)
Net cash used in investing activities	(46,071)	(151,788)
Cash flows from financing activities:
Proceeds from issuance of stock under the employee incentive programs	28,612	31,368
Payments of withholding taxes related to net share settlements of restricted stock units	(28,202)	(22,101)
Proceeds from debt	764	4,114
Repayment of debt	(2,607)	(11,542)
Repurchase of common stock	(128,433)	0
Payment of contingent consideration for previously acquired business	(8,684)	(6,626)
Purchase of subsidiary shares from noncontrolling interest	(1,972)	(2,254)
Other financing activities, net	(2,895)	(3,025)
Net cash used in financing activities	(143,417)	(10,066)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(5,632)	(75,876)
Net increase in cash, cash equivalents and restricted cash	196,145	40,305
Cash, cash equivalents and restricted cash, beginning of period	1,683,636	1,449,347
Cash, cash equivalents and restricted cash, end of period	$ 1,879,781	$ 1,489,652

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 1,872,977	$ 1,681,344
Restricted cash in Prepaid and other current assets	$ 5,441	$ 430
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other noncurrent assets	Other noncurrent assets
Restricted cash in Other noncurrent assets	$ 1,363	$ 1,862
Total restricted cash	6,804	2,292
Total cash, cash equivalents and restricted cash	$ 1,879,781	$ 1,683,636

BUSINESS AND SUMMARY OF SIGNIFI

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
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 digital transformation services and product engineering company, providing digital platform engineering and software development services to customers located around the world, primarily in North America, Europe, and Asia. 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 several other 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, 2022 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 unaudited 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, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position as of September 30, 2023 and the results of its operations and its cash flows for the periods presented. Risks and Uncertainties — As a result of its global operations, the Company may be subject to certain inherent risks. Concentration of Credit — Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents, short-term investments and trade receivables. The Company maintains cash, cash equivalents and short-term investments with financial institutions. The Company believes its credit policies reflect normal industry terms and business risk and there is no expectation of non-performance by the counterparties. The Company has cash in several countries, including Ukraine and Belarus, which have been impacted by the invasion of Ukraine and where the banking sector remains subject to periodic instability; banking and other financial systems generally do not meet the banking standards of more developed markets; and bank deposits made by corporate entities are not insured. As of September 30, 2023, the Company had $51.7 million of cash and cash equivalents in banks in Ukraine and $37.1 million of cash and cash equivalents in banks in Belarus. Cash in Ukraine and Belarus is used for the operational needs of the local entities and cash balances change with the expected operating needs of these entities. The Company regularly monitors cash held in these countries and, to the extent the cash held exceeds amounts required to support its operations in these countries, the Company distributes the excess funds into markets with more developed banking sectors to the extent it is possible to do so. The Company places its cash and cash equivalents with financial institutions considered stable in the region, limits the amount of credit exposure with any one financial institution and conducts ongoing evaluations of the credit worthiness of the financial institutions with which it does business. However, a banking crisis, bankruptcy or insolvency of banks that process or hold the Company’s funds, or sanctions may result in the loss of deposits or adversely affect the Company’s ability to complete banking transactions, which could adversely affect the Company’s business and financial condition. See Note 2 “Impact of the Invasion of Ukraine” for further discussion of the Company’s response to the invasion of Ukraine and sale of its operations in Russia. Trade receivables are generally dispersed across many customers operating in different industries; therefore, concentration of credit risk is limited. Historically, credit losses and write-offs of trade receivables have not been material to the consolidated financial statements. If any of the Company’s customers enter bankruptcy protection or otherwise take steps to alleviate their financial distress, the Company’s credit losses and write-offs of trade receivables could increase, which would negatively impact its results of operations. Foreign currency risk — The Company’s global operations are conducted predominantly in U.S. dollars. Other than U.S. dollars, the Company generates revenues in various currencies, principally, euros, British pounds, Swiss francs and Canadian dollars and incurs expenditures principally in euros, Polish zlotys, Indian rupees, British pounds, Swiss francs, Mexican pesos, Hungarian forints, Colombian pesos, Canadian dollars and Chinese yuan renminbi. The Company’s international operations expose it to risk of adverse fluctuations in foreign currency exchange rates through the remeasurement of foreign currency denominated assets and liabilities (both third-party and intercompany) and translation of earnings and cash flows into U.S. dollars. 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 Polish zloty, Indian rupee and Hungarian forint transactions. See Note 6 “Derivative Financial Instruments ” for further discussion regarding the Company’s termination of the hedging program for the Russian ruble. Interest rate risk — The Company is exposed to market risk from changes in interest rates. Exposure to interest rate risk results primarily from variable rates related to cash and cash equivalent deposits, short-term investments and the Company’s borrowings, mainly under the 2021 Credit Agreement, which is subject to a variety of rates depending on the type and timing of funds borrowed (See Note 8 “Debt”). The Company does not believe it is exposed to material direct risks associated with changes in interest rates related to these deposits, investments and borrowings. Adoption of New Accounting Standards There were no recently adopted accounting standards which had 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.

IMPACT OF THE INVASION OF UKRAI

IMPACT OF THE INVASION OF UKRAINE	9 Months Ended
	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]
IMPACT OF THE INVASION OF UKRAINE	IMPACT OF THE INVASION OF UKRAINE On February 24, 2022, Russian forces attacked Ukraine and its people and EPAM has repeatedly called for an immediate end to this unlawful and unconscionable attack. As of September 30, 2023, the Company had $65.3 million of Property and equipment, net in Ukraine consisting of a building classified as construction-in-progress located in Kyiv with a net book value of $51.5 million, laptops with a net book value of $7.6 million, most of which are in the possession of employees, various office furniture, equipment and supplies with a net book value of $4.8 million, and leasehold improvements located throughout Ukraine with a net book value of $1.4 million. Additionally, as of September 30, 2023, the Company had Operating lease right-of-use assets located throughout Ukraine with a net book value of $9.6 million. Through the issuance date of these interim financial statements, the Company is not aware of any damage to its long-lived assets in Ukraine and the Company expects to continue to use these assets as part of its global delivery model. On March 4, 2022, the Company announced a $100.0 million humanitarian commitment to support its employees and their families in and displaced from Ukraine. This humanitarian commitment is in addition to donations from EPAM's customers and employees and the work of EPAM volunteers on the ground. During the three and nine months ended September 30, 2023, the Company expensed $3.6 million and $13.6 million, respectively, related to this commitment, which included special cash payments to support impacted employees, financial and medical support for impacted families, travel, meals and lodging expenses, and donations to third-party humanitarian organizations. Of the expensed amount for the three and nine months ended September 30, 2023, $3.0 million and $8.3 million, respectively, is classified in Cost of revenues (exclusive of depreciation and amortization), and $0.6 million and $5.3 million, respectively, is classified in Selling, general and administrative expenses on the condensed consolidated financial statements. During the three and nine months ended September 30, 2022, the Company expensed $4.5 million and $38.5 million, respectively, related to this commitment, which included special cash payments to support impacted employees, financial and medical support for impacted families, travel, meals and lodging expenses, and donations to third-party humanitarian organizations. Of this expensed amount for the three and nine months ended September 30, 2022, $2.9 million and $25.3 million, respectively, is classified in Cost of revenues (exclusive of depreciation and amortization), and $1.6 million and $13.2 million, respectively, is classified in Selling, general and administrative expenses on the condensed consolidated financial statements. As of September 30, 2023, the Company has $41.6 million remaining to be expensed under this humanitarian commitment. The Company executed its business continuity plans following the invasion to assist relocating employees residing in Ukraine and the surrounding region impacted by the war and geopolitical uncertainty to other countries and to assign delivery personnel in locations outside of the region to serve in unbilled standby or backup capacities to ensure the continuity of delivery for its customers who have substantial delivery exposure to Ukraine or other delivery concerns resulting from the invasion and ongoing war. In addition to costs incurred as part of EPAM’s humanitarian commitment to Ukraine, during the three and nine months ended September 30, 2023 the Company incurred $0.0 million and $9.4 million of expenses, respectively, related to these standby resources, classified as Cost of revenues (exclusive of depreciation and amortization). Also, during the three and nine months ended September 30, 2023 the Company incurred expenses of $0.4 million and $0.9 million, respectively, related to its geographic repositioning efforts, classified as Selling, general and administrative expenses. During the three and nine months ended September 30, 2022, the Company incurred expenses of $1.0 million and $12.9 million, respectively, related to the standby resources, classified as Cost of revenues (exclusive of depreciation and amortization) and $4.4 million and $37.5 million, respectively, related to its geographic repositioning efforts, classified as Selling, general and administrative expenses. During the nine months ended September 30, 2022, the Company also recorded an impairment charge of $1.3 million, classified as Interest and other income, net related to a financial asset in Ukraine which the Company believed to be unrealizable due to the events in Ukraine. In response to the attacks on Ukraine, EPAM announced on March 4, 2022, it would discontinue services to customers located in Russia. Based on this change in facts and circumstances, the long-term cash flow forecast for the Company’s operations in Russia and its Russia reporting unit were significantly reduced. The reduction in the long-term cash flow forecasts indicated that the carrying amounts of goodwill and long-lived assets associated with the Company’s Russia reporting unit and operations in Russia may not be recoverable, and the carrying value of these assets was tested for impairment. The Company relied on the income approach to estimate the fair values of the Russia reporting unit and long-lived assets and considered multiple scenarios including the continuing operation and exit of operations in Russia. Reflecting the negative long-term cash flow forecasts that each of these scenarios produced for these assets, during the three months ended March 31, 2022, the Company recorded impairments of Property and equipment, net of $15.1 million, Operating lease right-of-use assets, net of $3.8 million, and Goodwill of $0.7 million. These asset impairment charges are included in Selling, general and administrative expenses in the condensed consolidated financial statements for the nine months ended September 30, 2022. Additionally, the Company evaluated trade receivables and contract assets for estimated future credit losses from customers located in Russia and recorded a bad debt expense of $5.7 million reflecting the deterioration of creditworthiness of its customers in Russia during the nine months ended September 30, 2022. Amounts recorded to bad debt expense during the three and nine months ended September 30, 2023 and three months ended September 30, 2022 related to customers located in Russia were not material. Also, during the three and nine months ended September 30, 2022, t he Com pany incurred employee separation costs of $0.7 million and $16.9 million, respectively, i n connection with the decision to exit its operations in Russia, with no such cost s incurred during the three and nine months ended September 30, 2023. On July 26, 2023, the Company completed the sale of its remaining holdings in Russia to a third-party. The Company recorded a loss on sale of $25.9 million during the third quarter of 2023, including the recognition of the accumulated currency translation loss related to this foreign entity that was previously included in Accumulated other comprehensive loss in the condensed consolidated financial statements.

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS 2022 Acquisitions — During the year ended December 31, 2022, the Company completed two acquisitions with a total purchase price of $13.6 million including contingent consideration with acquisition-date fair value of $2.6 million. These acquisitions expanded EPAM’s capabilities to deliver end-to-end solutions for designing and building sophisticated commerce platforms, provided opportunities for geographic expansion as well as added $3.4 million of intangible assets, consisting 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. 2023 Acquisition — During the three months ended September 30, 2023, the Company completed one acquisition with a total purchase price of $28.9 million including contingent consideration with acquisition-date fair value of $14.9 million. This acquisition expanded EPAM’s capabilities in software design and product development, as well as added $8.3 million of intangible assets, consisting of customer relationships. Pro forma results of operations have not been presented because the effect of this acquisition on the Company’s condensed consolidated financial statements was not material.

GOODWILL

GOODWILL	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill by reportable segment was as follows: North America Europe Total Balance as of January 1, 2023 $ 216,960 $ 312,112 $ 529,072 2023 Acquisition 20,537 — 20,537 2022 Acquisitions purchase accounting adjustments — 87 87 Effect of net foreign currency exchange rate changes (24) (1,495) (1,519) Balance as of September 30, 2023 $ 237,473 $ 310,704 $ 548,177 The Russia segment had accumulated goodwill impairment losses of $2.9 million as of September 30, 2023 and December 31, 2022. There were no accumulated impairment losses in the North America or Europe reportable segments as of September 30, 2023 or December 31, 2022.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 30, 2023
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 condensed 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 September 30, 2023 and December 31, 2022: As of September 30, 2023 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 2,136 $ — $ 2,136 $ — Total assets measured at fair value on a recurring basis $ 2,136 $ — $ 2,136 $ — Foreign exchange derivative liabilities $ 5,789 $ — $ 5,789 $ — Contingent consideration 28,150 — — 28,150 Total liabilities measured at fair value on a recurring basis $ 33,939 $ — $ 5,789 $ 28,150 As of December 31, 2022 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 12,191 $ — $ 12,191 $ — Rights to acquire noncontrolling interest in consolidated subsidiaries 334 — — 334 Total assets measured at fair value on a recurring basis $ 12,525 $ — $ 12,191 $ 334 Foreign exchange derivative liabilities $ 9,350 $ — $ 9,350 $ — Contingent consideration 24,308 — — 24,308 Total liabilities measured at fair value on a recurring basis $ 33,658 $ — $ 9,350 $ 24,308 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 6 “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 both as of September 30, 2023 and December 31, 2022, were at a maximum of 20.0%, if a rate was applied. 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 contingent consideration using significant unobservable inputs for the nine months ended September 30, 2023 is as follows: Amount Contingent consideration as of January 1, 2023 $ 24,308 2023 Acquisition 14,850 Changes in fair value of contingent consideration included in Interest and other income, net 1,814 Payment of contingent consideration for previously acquired businesses (12,844) Effect of foreign currency exchange rate changes, net 22 Contingent consideration as of September 30, 2023 $ 28,150 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 condensed 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 September 30, 2023 Financial Assets: Cash equivalents: Money market funds $ 154,147 $ 154,147 $ 154,147 $ — $ — Time deposits 199,678 199,678 — 199,678 — Total cash equivalents $ 353,825 $ 353,825 $ 154,147 $ 199,678 $ — Restricted cash $ 6,804 $ 6,804 $ 6,804 $ — $ — Time deposits included in Short-term investments $ 60,431 $ 60,431 $ — $ 60,431 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 55,501 $ 55,501 $ — $ 55,501 $ — Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 December 31, 2022 Financial Assets: Cash equivalents: Money market funds $ 312,321 $ 312,321 $ 312,321 $ — $ — Total cash equivalents $ 312,321 $ 312,321 $ 312,321 $ — $ — Restricted cash $ 2,292 $ 2,292 $ 2,292 $ — $ — Time deposits included in Short-term investments $ 60,336 $ 60,336 $ — $ 60,336 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 53,636 $ 53,636 $ — $ 53,636 $ — During the year ended December 31, 2022, the Company completed an asset acquisition of software licenses for use in the regular course of business for a purchase price of $66.1 million, which included an upfront payment of $13.3 million and fixed deferred consideration, payable in annual installments, with an acquisition-date fair value of $52.8 million. To estimate fair value, the future payments were discounted to present value using a discount rate based on the estimated borrowing rate of the Company. The weighted average discount rate used to determine the acquisition-date fair value was 5.2%. See Note 14 “Commitments and Contingencies” for more information regarding the deferred consideration. 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 $31.7 million and $28.4 million as of September 30, 2023 and December 31, 2022, respectively, and is classified as Other noncurrent assets in the Company’s condensed consolidated balance sheets.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2023
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 Polish zloty, Indian rupee and Hungarian forint transactions. During the three months ended March 31, 2022, in response to the invasion of Ukraine, the Company de-designated its Russian ruble foreign exchange forward contracts as hedges and entered into offsetting foreign exchange forward contracts with the same counterparty. The Company determined it was probable the underlying forecasted foreign currency transactions which were hedged would not occur and reclassified the accumulated loss of $43.9 million on the underlying hedges into income which is classified as foreign exchange loss in the condensed consolidated statement of income. As of September 30, 2023, all of the Company’s Russian ruble foreign exchange forwards contracts had settled. As of September 30, 2023, 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 condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022 were as follows: As of September 30, 2023 As of December 31, 2022 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts - Prepaid expenses and other current assets $ 2,136 $ 12,191 Accrued expenses and other current liabilities $ 5,789 $ 1,445 Foreign exchange forward contracts - Accrued expenses and other current liabilities $ — $ 7,905

LEASES

LEASES	9 Months Ended
	Sep. 30, 2023
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 8.3 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 and nine months ended September 30, 2023 and 2022. See Note 2 “Impact of the Invasion of Ukraine” for discussion of impairment of right-of-use assets in Russia. During the three and nine months ended September 30, 2023 and 2022, the components of lease expense were as follows: Three Months Ended Nine Months Ended Income Statement Classification 2023 2022 2023 2022 Operating lease cost Selling, general and administrative expenses $ 11,592 $ 12,204 $ 34,725 $ 40,303 Variable lease cost Selling, general and administrative expenses 2,905 2,263 9,941 7,791 Short-term lease cost Selling, general and administrative expenses 998 916 4,609 3,382 Total lease cost $ 15,495 $ 15,383 $ 49,275 $ 51,476 Supplemental cash flow information related to leases for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 12,383 $ 13,024 $ 37,628 $ 43,490 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 3,815 $ 6,111 $ 10,843 $ 30,843 Non-cash net increase/(decrease) due to lease modifications: Operating lease right-of-use assets $ 1,312 $ 3,260 $ 7,203 $ (2,587) Operating lease liabilities $ 1,276 $ 3,163 $ 7,416 $ (3,946) Weighted average remaining lease term and discount rate as of September 30, 2023 and 2022 were as follows: As of September 30, 2023 As of September 30, 2022 Weighted average remaining lease term, in years: Operating leases 5.0 5.5 Weighted average discount rate: Operating leases 3.9 % 2.4 % As of September 30, 2023, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2023 (excluding nine months ended September 30, 2023) $ 11,491 2024 41,039 2025 32,609 2026 26,005 2027 16,942 Thereafter 32,083 Total lease payments 160,169 Less: imputed interest (13,543) Total $ 146,626 The Company had committed to payments of $12.3 million related to operating lease agreements that had not yet commenced as of September 30, 2023. These operating leases will commence on various dates during 2023 and 2024 with lease terms ranging from 0.2 to 7.3 years. The Company did not have any material finance lease agreements that had not yet commenced.

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Revolving Credit Facility — On October 21, 2021, the Company replaced its 2017 credit facility with a new unsecured credit agreement (the “2021 Credit Agreement”) with PNC Bank, National Association; PNC Capital Markets LLC; Citibank N.A.; Wells Fargo Bank, National Association; Santander Bank, N.A.; and Raiffeisen Bank International AG (collectively the “Lenders”). The 2021 Credit Agreement provides for a revolving credit facility (the “2021 Revolving Facility”) with a borrowing capacity of $700.0 million, with the potential to increase the borrowing capacity up to $1.000 billion if certain conditions are met. The 2021 Credit Agreement matures on October 21, 2026. Borrowings under the 2021 Revolving Facility may be denominated in U.S. dollars or up to a maximum of $150.0 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 2021 Revolving 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, or (c) the Daily Simple SOFR Rate, plus 1.0%, so long as the Daily Simple SOFR Rate is offered, ascertainable and not unlawful. The 2021 Credit Agreement 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 September 30, 2023, the Company was in compliance with all covenants contained in the 2021 Credit Agreement. The following table presents the outstanding debt and borrowing capacity of the Company under the 2021 Credit Agreement: As of As of Outstanding debt $ 25,000 $ 25,000 Interest rate 6.3 % 5.2 % Available borrowing capacity $ 675,000 $ 675,000 Maximum borrowing capacity $ 700,000 $ 700,000

COST OPTIMIZATION PROGRAM

COST OPTIMIZATION PROGRAM	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
COST OPTIMIZATION PROGRAM	COST OPTIMIZATION PROGRAM During the third quarter ended September 30, 2023 the Company initiated a Cost Optimization Program to streamline operations and optimize corporate functions. This program is expected to include workforce reduction and closure of underutilized facilities. The Company recorded $7.1 million of expenses during the three and nine months ended September 30, 2023 which are classified in Selling, general and administrative expenses in the condensed consolidated statements of income. The Company did not allocate these charges to individual segments as they are not considered by the chief operating decision maker during the review of segment results. Accordingly, such expenses are separately disclosed in our segment reporting as “Other unallocated expenses” (See Note 15 “Segment Information”). Activity in the Company’s restructuring reserves was as follows: Balance at December 31, 2022 Charges Payments Made Balance at September 30. 2023 2023 Cost Optimization Program Employee separation costs $ — $ 7,116 $ (3,379) $ 3,737 Total $ — $ 7,116 $ (3,379) $ 3,737 The Company expects to complete all restructuring actions commenced during the three months ended September 30, 2023 by the end of the first quarter of 2024 and to incur additional charges of approximately $15.0 million related primarily to employee severance and facility exit costs. The actual amount and timing of severance and other costs are dependent in part upon local country consultation processes and regulations and may differ from our current expectations and estimates.

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2023
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 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 654,717 $ 22,693 $ — $ 677,410 EMEA 29,251 416,986 — 446,237 APAC 786 24,265 — 25,051 CEE 24 1,869 1,545 3,438 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 1,991,871 $ 73,797 $ 631 $ 2,066,299 EMEA 80,252 1,289,007 — 1,369,259 APAC 2,161 73,919 — 76,080 CEE 522 5,679 15,444 21,645 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 723,015 $ 23,575 $ 501 $ 747,091 EMEA 22,621 415,595 — 438,216 APAC 1,237 30,139 — 31,376 CEE 1,510 700 8,027 10,237 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 2,080,752 $ 72,351 $ 2,393 $ 2,155,496 EMEA 70,909 1,212,144 99 1,283,152 APAC 2,813 88,321 — 91,134 CEE 5,277 1,107 57,229 63,613 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 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 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 115,778 $ 146,837 $ 342 $ 262,957 Financial Services 131,499 114,122 814 246,435 Business Information & Media 104,863 78,983 15 183,861 Software & Hi-Tech 136,520 37,545 281 174,346 Life Sciences & Healthcare 109,137 15,143 (36) 124,244 Emerging Verticals 86,981 73,183 129 160,293 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 359,475 $ 451,531 $ 3,770 $ 814,776 Financial Services 410,527 358,091 7,450 776,068 Business Information & Media 327,378 248,351 196 575,925 Software & Hi-Tech 422,073 115,137 1,545 538,755 Life Sciences & Healthcare 305,700 44,123 120 349,943 Emerging Verticals 249,653 225,169 2,994 477,816 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 131,181 $ 147,271 $ 1,950 $ 280,402 Financial Services 134,673 115,372 4,741 254,786 Business Information & Media 121,703 87,028 167 208,898 Software & Hi-Tech 170,818 34,513 59 205,390 Life Sciences & Healthcare 116,878 12,569 228 129,675 Emerging Verticals 73,130 73,256 1,383 147,769 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 384,360 $ 424,140 $ 13,539 $ 822,039 Financial Services 381,887 345,468 38,477 765,832 Business Information & Media 346,675 253,610 786 601,071 Software & Hi-Tech 488,134 100,814 1,248 590,196 Life Sciences & Healthcare 344,148 37,378 444 381,970 Emerging Verticals 214,547 212,513 5,227 432,287 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 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 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 602,765 $ 391,479 $ 1,355 $ 995,599 Fixed-price 73,640 73,226 190 147,056 Licensing and other revenues 8,373 1,108 — 9,481 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 1,854,159 $ 1,233,271 $ 11,168 $ 3,098,598 Fixed-price 202,144 205,897 4,873 412,914 Licensing and other revenues 18,503 3,234 34 21,771 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 673,927 $ 405,030 $ 5,887 $ 1,084,844 Fixed-price 69,565 64,426 2,424 136,415 Licensing and other revenues 4,891 553 217 5,661 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 1,955,361 $ 1,172,981 $ 39,226 $ 3,167,568 Fixed-price 192,322 198,641 20,195 411,158 Licensing and other revenues 12,068 2,301 300 14,669 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 Timing of Revenue Recognition The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 682,410 $ 465,286 $ 1,545 $ 1,149,241 Transferred at a point of time 2,368 527 — 2,895 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 2,066,081 $ 1,440,682 $ 16,042 $ 3,522,805 Transferred at a point of time 8,725 1,720 33 10,478 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 746,352 $ 468,118 $ 8,316 $ 1,222,786 Transferred at a point of time 2,031 1,891 212 4,134 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 2,153,772 $ 1,371,390 $ 59,447 $ 3,584,609 Transferred at a point of time 5,979 2,533 274 8,786 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 During the three and nine months ended September 30, 2023, the Company recognized $9.2 million and $7.1 million, respectively, of revenues from performance obligations satisfied in previous periods compared to $12.3 million and $7.2 million during the three and nine months ended September 30, 2022, respectively. 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 September 30, 2023. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts (i) that have an original expected duration of one year or less and (ii) 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 $ 12,016 $ 2,930 $ 931 $ — $ 15,877 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, net $ 29,331 $ 11,490 Contract liabilities included in Accrued expenses and other current liabilities $ 26,904 $ 36,036 Contract liabilities included in Other noncurrent liabilities $ 630 $ 42 Contract assets comprise amounts where the Company’s right to bill is contingent on something other than the passage of time such as achievement of contractual milestones. Contract assets have increased from December 31, 2022 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 decreased from December 31, 2022 primarily due to completion of services performed for customers during the first nine months of 2023. During the three and nine months ended September 30, 2023, the Company recognized $3.1 million and $27.4 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2022. During the three and nine months ended September 30, 2022, the Company recognized $2.0 million and $34.0 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2021.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
STOCKHOLDERS’ EQUITY	STOCKHOLDERS’ EQUITY 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 Nine Months Ended 2023 2022 2023 2022 Cost of revenues (exclusive of depreciation and amortization) $ 18,142 $ 17,474 $ 49,569 $ 31,782 Selling, general and administrative expenses 19,705 15,813 59,967 36,510 Total $ 37,847 $ 33,287 $ 109,536 $ 68,292 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, 2023 1,923 $ 98.92 Options granted 114 $ 295.73 Options exercised (292) $ 34.59 Options forfeited (3) $ 304.41 Options expired (4) $ 332.74 Options outstanding at September 30, 2023 1,738 $ 121.77 $ 253,440 3.5 Options vested and exercisable as of September 30, 2023 1,452 $ 88.07 $ 250,628 2.5 Options expected to vest as of September 30, 2023 270 $ 292.64 $ 2,739 8.5 As of September 30, 2023, $26.5 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 2.3 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 nine months ended September 30, 2023: 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 Unvested service-based awards outstanding at January 1, 2023 916 $ 291.19 99 $ 257.74 Awards granted 502 $ 296.40 36 $ 299.00 Awards modified (15) $ 278.52 15 $ 305.59 Awards vested (305) $ 270.64 (44) $ 239.75 Awards forfeited/cancelled (67) $ 306.98 (4) $ 244.87 Unvested service-based awards outstanding at September 30, 2023 1,031 $ 298.95 102 $ 287.41 As of September 30, 2023, $225.8 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 2.7 years. As of September 30, 2023, $19.3 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 2.5 years. The liability associated with the service-based liability-classified RSUs as of September 30, 2023 and December 31, 2022, was $4.4 million and $10.2 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 nine months ended September 30, 2023: 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, 2023 9 $ 165.87 15 $ 412.60 Awards vested (9) $ 165.87 (1) $ 438.26 Awards forfeited/cancelled — — (1) $ 363.93 Unvested performance-based awards outstanding at September 30, 2023 — $ — 13 $ 413.14 As of September 30, 2023, $2.4 million of total remaining unrecognized stock-based compensation cost related to performance-based equity-classified RSUs is expected to be recognized over the weighted-average remaining requisite service period of 2.2 years. 2021 Employee Stock Purchase Plan The 2021 Employee Stock Purchase Plan ("ESPP") enables eligible employees to purchase shares of EPAM’s common stock at a discount at the end of each designated offering period, which occurs every six months in April and November. The purchase price is equal to 85% of the fair market value of a share of EPAM’s common stock on the first date of an offering or the date of purchase, whichever is lower. During the nine months ended September 30, 2023, the ESPP participants purchased 77 thousand shares of common stock under the ESPP. During the nine months ended September 30, 2022, the ESPP participants purchased 55 thousand shares of common stock under the ESPP. The Company recognizes compensation expense related to share issuances pursuant to the ESPP on a straight-line basis over the six-month offering period. For the three and nine months ended September 30, 2023, the Company recognized $3.1 million and $9.7 million, respectively, of stock-based compensation expense related to the ESPP. For the three and nine months ended September 30, 2022, the Company recognized $4.7 million and $10.0 million, respectively, of stock-based compensation expense related to the ESPP. As of September 30, 2023, total unrecognized stock-based compensation cost related to the ESPP was $1.1 million, which is expected to be recognized over a period of 0.1 years. Commitments for Future Equity Awards In connection with the Company’s acquisitions of businesses as discussed in Note 3 “Acquisitions”, EPAM enters into agreements that contractually commit it to granting equity awards at future dates. The agreements are unique to each acquisition and terms vary to specify the number of future awards to be issued or a monetary value that will be settled with equity awards valued at future stock prices. As of September 30, 2023, the Company has commitments to grant up to $25.4 million of equity awards with the number of awards to be determined based on future stock prices. These awards contain performance criteria that will determine the number of future awards to be issued and there is a service-based vesting requirement after the grant date associated with these awards. As these awards are considered granted for accounting purposes, in determining the expense, the Company adjusts the expected settlement based on the probability of achievement of the performance criteria. Related to these awards, the amount of stock-based compensation expense recorded in the condensed consolidated statements of income for the three months ended September 30, 2023 was not material. Share Repurchases On February 13, 2023, the Board of Directors authorized a share repurchase program for up to $500.0 million of the Company's outstanding common stock. EPAM may repurchase shares of its common stock on a discretionary basis from time to time through open market purchases, privately negotiated transactions or other means, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The timing and total amount of stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. The share repurchase program has a term of 24 months, may be suspended or discontinued at any time, and does not obligate the company to acquire any amount of common stock. During the three and nine months ended September 30, 2023, the Company repurchased 318 thousand and 543 thousand shares of its common stock for $78.5 million and $128.4 million, respectively, in cash. All of the repurchased shares have been retired. As of September 30, 2023, a remaining balance of $371.6 million was available for purchases of the Company’s common stock under the share repurchase program authorized by the Company’s Board of Directors.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
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 rate for the three months ended September 30, 2023 and 2022 was 26.3% and 18.4%, respectively, and 21.9% and 13.6% during the nine months ended September 30, 2023 and 2022, respectively. The Company’s effective tax rate benefited from excess tax benefits recorded upon vesting or exercise of stock-based awards of $1.7 million and $10.9 million during the three months ended September 30, 2023 and 2022, respectively, and $15.1 million and $31.4 million during the nine months ended September 30, 2023 and 2022, respectively. Additionally, during the three and nine months ended September 30, 2022, the Company’s effective tax rate benefited from the recognition of one-time benefits of $1.3 million and $8.5 million, respectively, resulting from the Company’s decision to change the tax status and to classify certain of its foreign subsidiaries as disregarded entities for U.S. income tax purposes. During the three and nine months ended September 30, 2023, the Company’s effective tax rate increased due to a $3.6 million charge in the third quarter associated with the completion of EPAM’s exit from Russia.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2023
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 unvested 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, unvested equity-settled RSUs and the stock to be issued under the Company’s ESPP. 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 Nine Months Ended 2023 2022 2023 2022 Numerator for basic and diluted earnings per share: Net income $ 97,204 $ 156,054 $ 319,529 $ 264,377 Numerator for basic and diluted earnings per share $ 97,204 $ 156,054 $ 319,529 $ 264,377 Denominator: Weighted average common shares for basic earnings per share 57,853 57,420 57,850 57,194 Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP 1,095 1,937 1,293 1,914 Weighted average common shares for diluted earnings per share 58,948 59,357 59,143 59,108 Net income per share: Basic $ 1.68 $ 2.72 $ 5.52 $ 4.62 Diluted $ 1.65 $ 2.63 $ 5.40 $ 4.47 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 452 thousand and 410 thousand during the three and nine months ended September 30, 2023, respectively. 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 158 thousand and 252 thousand during the three and nine months ended September 30, 2022, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
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. Ukraine Humanitarian Commitment — On March 4, 2022, EPAM announced that it has established a $100.0 million humanitarian commitment to support its employees in Ukraine and their families. See Note 2 “Impact of the Invasion of Ukraine” for more information regarding commitments to humanitarian aid for Ukraine. Deferred Consideration — During the year ended December 31, 2022, the Company purchased software licenses for use in the regular course of business in exchange for an upfront payment and fixed, future annual payments due over the next 4 years. As of September 30, 2023, the undiscounted deferred consideration amounts owed totaled approximately $60.0 million and are expected to be paid as follows: $14.2 million during the remainder of 2023, $14.0 million in 2024, $15.1 million in 2025, and $16.7 million in 2026. Contractual Commitment — On March 31, 2023, the Company entered into a 5-year agreement for cloud services through which it committed to spending at least $75.0 million over the term of the agreement. The Company has the ability to cancel the commitment whereby it would incur a cancellation penalty of 20% of the remaining contractual commitment.

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2023
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, certain taxes included in operating expenses, 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 and benefits. 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. On July 26, 2023, the Company completed the sale of its remaining holdings in Russia to a third party. As a result of this sale, the Company no longer has operations associated with this segment. See Note 2 “Impact of the Invasion of Ukraine” for more information. Revenues from external customers and operating profit/(loss), before unallocated expenses, by reportable segment for the three and nine months ended September 30, 2023 and 2022, were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Segment revenues: North America $ 684,778 $ 748,383 $ 2,074,806 $ 2,159,751 Europe 465,813 470,009 1,442,402 1,373,923 Russia 1,545 8,528 16,075 59,721 Total segment revenues $ 1,152,136 $ 1,226,920 $ 3,533,283 $ 3,593,395 Segment operating profit/(loss): North America $ 132,438 $ 175,845 $ 386,929 $ 429,999 Europe 64,074 64,813 188,779 156,920 Russia (118) 1,507 (5,866) (16,315) Total segment operating profit $ 196,394 $ 242,165 $ 569,842 $ 570,604 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 and nine months ended September 30, 2023 and 2022. Reconciliation of segment operating profit to consolidated income before provision for income taxes is presented below: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Total segment operating profit: $ 196,394 $ 242,165 $ 569,842 $ 570,604 Unallocated amounts: Stock-based compensation expense (37,847) (33,287) (109,536) (68,292) Amortization of intangibles assets (5,688) (5,584) (16,708) (16,584) Other acquisition-related expenses (867) (265) (2,448) (934) Loss on sale of business (25,922) — (25,922) — Other unallocated expenses (12,042) (22,802) (36,483) (82,305) Income from operations 114,028 180,227 378,745 402,489 Interest and other income, net 13,931 4,228 37,162 5,642 Foreign exchange gain/(loss) 3,893 6,691 (6,725) (102,035) Income before provision for income taxes $ 131,852 $ 191,146 $ 409,182 $ 306,096 Geographic Area Information Long-lived assets presented in the table below 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 Ukraine $ 65,277 $ 70,183 United States 56,995 68,804 Belarus 51,761 57,311 Poland 12,213 14,685 India 6,856 8,506 Hungary 6,752 8,552 Other 39,800 45,307 Total $ 239,654 $ 273,348 See Note 2 “Impact of the Invasion of Ukraine” for more information regarding the Company’s decisions to no longer serve customers in Russia, impairment of long-lived assets in Russia and the sale of its holdings in Russia. The table below presents information about the Company’s revenues by customer location for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 United States $ 652,757 $ 715,314 $ 1,981,816 $ 2,059,293 United Kingdom 140,718 160,683 448,526 463,610 Switzerland 91,504 76,191 270,862 237,247 Netherlands 59,020 56,996 176,528 158,054 Germany 44,843 40,116 132,606 116,379 Canada 21,808 29,145 76,125 87,985 Russia 1,545 8,013 13,290 56,692 Other locations 139,941 140,462 433,530 414,135 Total $ 1,152,136 $ 1,226,920 $ 3,533,283 $ 3,593,395

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Sep. 30, 2023
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 Nine Months Ended 2023 2022 2023 2022 Foreign currency translation Beginning balance $ (81,158) $ (68,469) $ (101,780) $ (52,747) Foreign currency translation (33,292) (69,674) (9,231) (82,812) Net loss reclassified into Loss on sale of business 23,931 — 23,931 — Income tax benefit 3,560 12,751 121 10,167 Foreign currency translation, net of tax (5,801) (56,923) 14,821 (72,645) Ending balance $ (86,959) $ (125,392) $ (86,959) $ (125,392) Cash flow hedging instruments Beginning balance $ 10,920 $ (9,845) $ 8,306 $ (3,417) Unrealized (loss)/ gain in fair value (8,805) (15,222) 7,028 (72,827) Net (gain)/ loss reclassified into Cost of revenues (exclusive of depreciation and amortization) (8,764) 8,186 (21,248) 13,647 Net (gain)/ loss reclassified into Foreign exchange loss (211) 112 (178) 43,940 Income tax benefit 4,036 1,572 3,268 3,460 Cash flow hedging instruments, net of tax (13,744) (5,352) (11,130) (11,780) Ending balance (1) $ (2,824) $ (15,197) $ (2,824) $ (15,197) Defined benefit plans Beginning balance $ (1,847) $ 1,957 $ (1,847) $ 1,957 Ending balance $ (1,847) $ 1,957 $ (1,847) $ 1,957 Accumulated other comprehensive loss $ (91,630) $ (138,632) $ (91,630) $ (138,632)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 97,204	$ 120,033	$ 102,292	$ 156,054	$ 18,604	$ 89,719	$ 319,529	$ 264,377

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2023 shares	Sep. 30, 2023 shares
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	true
Jason Peterson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 8, 2023, Jason Peterson, Senior Vice President, Treasurer, and Chief Financial Officer, adopted a trading arrangement for the sale of securities of the Company’s common stock that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c) (a “Rule 10b5-1 Trading Plan”). Mr. Peterson’s Rule 10b5-1 Trading Plan has a term of one year and provides for the sale of up to 4,250 shares of common stock according to the terms of his Rule 10b5-1 Trading Plan.
Name	Jason Peterson
Title	Senior Vice President, Treasurer, and Chief Financial Officer
Adoption Date	August 8, 2023
Arrangement Duration	1 year
Aggregate Available	4,250	4,250
Elaina Shekhter [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On August 25, 2023, Elaina Shekhter, Senior Vice President and Chief Marketing and Strategy Officer, adopted a Rule 10b5-1 Trading Plan. Ms. Shekhter’s Rule 10b5-1 Trading Plan has a term of four months and provides for the sale of up to 8,176 shares of common stock according to the terms of her Rule 10b5-1 Trading Plan.
Name	Elaina Shekhter
Title	Senior Vice President and Chief Marketing and Strategy Officer
Adoption Date	August 25, 2023
Arrangement Duration	4 months
Aggregate Available	8,176	8,176

BUSINESS AND SUMMARY OF SIGNI_2

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Nature of Operations	EPAM Systems, Inc. (the “Company” or “EPAM”) is a leading digital transformation services and product engineering company, providing digital platform engineering and software development services to customers located around the world, primarily in North America, Europe, and Asia. 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 several other 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 unaudited 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, the accompanying unaudited condensed consolidated financial statements include all normal and recurring adjustments necessary for a fair presentation of the Company’s financial position as of September 30, 2023 and the results of its operations and its cash flows for the periods presented.
Concentration of Credit And Interest Rate Risk	Concentration of Credit — Financial instruments that potentially subject the Company to concentration of credit risk consist primarily of cash, cash equivalents, short-term investments and trade receivables. The Company maintains cash, cash equivalents and short-term investments with financial institutions. The Company believes its credit policies reflect normal industry terms and business risk and there is no expectation of non-performance by the counterparties. Interest rate risk — The Company is exposed to market risk from changes in interest rates. Exposure to interest rate risk results primarily from variable rates related to cash and cash equivalent deposits, short-term investments and the Company’s borrowings, mainly under the 2021 Credit Agreement, which is subject to a variety of rates depending on the type and timing of funds borrowed (See Note 8 “Debt”). The Company does not believe it is exposed to material direct risks associated with changes in interest rates related to these deposits, investments and borrowings.
Foreign currency risk	Foreign currency risk — The Company’s global operations are conducted predominantly in U.S. dollars. Other than U.S. dollars, the Company generates revenues in various currencies, principally, euros, British pounds, Swiss francs and Canadian dollars and incurs expenditures principally in euros, Polish zlotys, Indian rupees, British pounds, Swiss francs, Mexican pesos, Hungarian forints, Colombian pesos, Canadian dollars and Chinese yuan renminbi. The Company’s international operations expose it to risk of adverse fluctuations in foreign currency exchange rates through the remeasurement of foreign currency denominated assets and liabilities (both third-party and intercompany) and translation of earnings and cash flows into U.S. dollars. 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 Polish zloty, Indian rupee and Hungarian forint transactions.
Adoption of New Accounting Standards and Pending Accounting Standards	Adoption of New Accounting Standards There were no recently adopted accounting standards which had 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.
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 6 “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 both as of September 30, 2023 and December 31, 2022, were at a maximum of 20.0%, if a rate was applied. 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.
Non-Marketable Securities Without Readily Determinable Fair Values	Non-Marketable Securities Without Readily Determinable Fair ValuesThe 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.

GOODWILL (Tables)

GOODWILL (Tables)	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill by Reportable Segment	Goodwill by reportable segment was as follows: North America Europe Total Balance as of January 1, 2023 $ 216,960 $ 312,112 $ 529,072 2023 Acquisition 20,537 — 20,537 2022 Acquisitions purchase accounting adjustments — 87 87 Effect of net foreign currency exchange rate changes (24) (1,495) (1,519) Balance as of September 30, 2023 $ 237,473 $ 310,704 $ 548,177

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of 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 September 30, 2023 and December 31, 2022: As of September 30, 2023 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 2,136 $ — $ 2,136 $ — Total assets measured at fair value on a recurring basis $ 2,136 $ — $ 2,136 $ — Foreign exchange derivative liabilities $ 5,789 $ — $ 5,789 $ — Contingent consideration 28,150 — — 28,150 Total liabilities measured at fair value on a recurring basis $ 33,939 $ — $ 5,789 $ 28,150 As of December 31, 2022 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 12,191 $ — $ 12,191 $ — Rights to acquire noncontrolling interest in consolidated subsidiaries 334 — — 334 Total assets measured at fair value on a recurring basis $ 12,525 $ — $ 12,191 $ 334 Foreign exchange derivative liabilities $ 9,350 $ — $ 9,350 $ — Contingent consideration 24,308 — — 24,308 Total liabilities measured at fair value on a recurring basis $ 33,658 $ — $ 9,350 $ 24,308
Schedule of Acquisition-Related Contingent Consideration Roll Forward	A reconciliation of the beginning and ending balances of Level 3 contingent consideration using significant unobservable inputs for the nine months ended September 30, 2023 is as follows: Amount Contingent consideration as of January 1, 2023 $ 24,308 2023 Acquisition 14,850 Changes in fair value of contingent consideration included in Interest and other income, net 1,814 Payment of contingent consideration for previously acquired businesses (12,844) Effect of foreign currency exchange rate changes, net 22 Contingent consideration as of September 30, 2023 $ 28,150
Schedule of 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 September 30, 2023 Financial Assets: Cash equivalents: Money market funds $ 154,147 $ 154,147 $ 154,147 $ — $ — Time deposits 199,678 199,678 — 199,678 — Total cash equivalents $ 353,825 $ 353,825 $ 154,147 $ 199,678 $ — Restricted cash $ 6,804 $ 6,804 $ 6,804 $ — $ — Time deposits included in Short-term investments $ 60,431 $ 60,431 $ — $ 60,431 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 55,501 $ 55,501 $ — $ 55,501 $ — Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 December 31, 2022 Financial Assets: Cash equivalents: Money market funds $ 312,321 $ 312,321 $ 312,321 $ — $ — Total cash equivalents $ 312,321 $ 312,321 $ 312,321 $ — $ — Restricted cash $ 2,292 $ 2,292 $ 2,292 $ — $ — Time deposits included in Short-term investments $ 60,336 $ 60,336 $ — $ 60,336 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 53,636 $ 53,636 $ — $ 53,636 $ —

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The fair value of derivative instruments on the Company’s condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022 were as follows: As of September 30, 2023 As of December 31, 2022 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts - Prepaid expenses and other current assets $ 2,136 $ 12,191 Accrued expenses and other current liabilities $ 5,789 $ 1,445 Foreign exchange forward contracts - Accrued expenses and other current liabilities $ — $ 7,905

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Schedule of Components of Lease Expenses	During the three and nine months ended September 30, 2023 and 2022, the components of lease expense were as follows: Three Months Ended Nine Months Ended Income Statement Classification 2023 2022 2023 2022 Operating lease cost Selling, general and administrative expenses $ 11,592 $ 12,204 $ 34,725 $ 40,303 Variable lease cost Selling, general and administrative expenses 2,905 2,263 9,941 7,791 Short-term lease cost Selling, general and administrative expenses 998 916 4,609 3,382 Total lease cost $ 15,495 $ 15,383 $ 49,275 $ 51,476
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to leases for the three and nine months ended September 30, 2023 and 2022 was as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 12,383 $ 13,024 $ 37,628 $ 43,490 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 3,815 $ 6,111 $ 10,843 $ 30,843 Non-cash net increase/(decrease) due to lease modifications: Operating lease right-of-use assets $ 1,312 $ 3,260 $ 7,203 $ (2,587) Operating lease liabilities $ 1,276 $ 3,163 $ 7,416 $ (3,946)
Schedule of Weighted Average Lease Terms and Discount Rates	Weighted average remaining lease term and discount rate as of September 30, 2023 and 2022 were as follows: As of September 30, 2023 As of September 30, 2022 Weighted average remaining lease term, in years: Operating leases 5.0 5.5 Weighted average discount rate: Operating leases 3.9 % 2.4 %
Schedule of Maturity of Operating Lease Liabilities	As of September 30, 2023, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2023 (excluding nine months ended September 30, 2023) $ 11,491 2024 41,039 2025 32,609 2026 26,005 2027 16,942 Thereafter 32,083 Total lease payments 160,169 Less: imputed interest (13,543) Total $ 146,626

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Outstanding Debt And Borrowing Capacity	The following table presents the outstanding debt and borrowing capacity of the Company under the 2021 Credit Agreement: As of As of Outstanding debt $ 25,000 $ 25,000 Interest rate 6.3 % 5.2 % Available borrowing capacity $ 675,000 $ 675,000 Maximum borrowing capacity $ 700,000 $ 700,000

COST OPTIMIZATION PROGRAM (Tabl

COST OPTIMIZATION PROGRAM (Tables)	9 Months Ended
	Sep. 30, 2023
Restructuring and Related Activities [Abstract]
Schedule of Restructuring and Related Costs	Activity in the Company’s restructuring reserves was as follows: Balance at December 31, 2022 Charges Payments Made Balance at September 30. 2023 2023 Cost Optimization Program Employee separation costs $ — $ 7,116 $ (3,379) $ 3,737 Total $ — $ 7,116 $ (3,379) $ 3,737

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of 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 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 654,717 $ 22,693 $ — $ 677,410 EMEA 29,251 416,986 — 446,237 APAC 786 24,265 — 25,051 CEE 24 1,869 1,545 3,438 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 1,991,871 $ 73,797 $ 631 $ 2,066,299 EMEA 80,252 1,289,007 — 1,369,259 APAC 2,161 73,919 — 76,080 CEE 522 5,679 15,444 21,645 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 723,015 $ 23,575 $ 501 $ 747,091 EMEA 22,621 415,595 — 438,216 APAC 1,237 30,139 — 31,376 CEE 1,510 700 8,027 10,237 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Customer Locations Americas $ 2,080,752 $ 72,351 $ 2,393 $ 2,155,496 EMEA 70,909 1,212,144 99 1,283,152 APAC 2,813 88,321 — 91,134 CEE 5,277 1,107 57,229 63,613 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 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 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 115,778 $ 146,837 $ 342 $ 262,957 Financial Services 131,499 114,122 814 246,435 Business Information & Media 104,863 78,983 15 183,861 Software & Hi-Tech 136,520 37,545 281 174,346 Life Sciences & Healthcare 109,137 15,143 (36) 124,244 Emerging Verticals 86,981 73,183 129 160,293 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 359,475 $ 451,531 $ 3,770 $ 814,776 Financial Services 410,527 358,091 7,450 776,068 Business Information & Media 327,378 248,351 196 575,925 Software & Hi-Tech 422,073 115,137 1,545 538,755 Life Sciences & Healthcare 305,700 44,123 120 349,943 Emerging Verticals 249,653 225,169 2,994 477,816 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 131,181 $ 147,271 $ 1,950 $ 280,402 Financial Services 134,673 115,372 4,741 254,786 Business Information & Media 121,703 87,028 167 208,898 Software & Hi-Tech 170,818 34,513 59 205,390 Life Sciences & Healthcare 116,878 12,569 228 129,675 Emerging Verticals 73,130 73,256 1,383 147,769 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Travel & Consumer $ 384,360 $ 424,140 $ 13,539 $ 822,039 Financial Services 381,887 345,468 38,477 765,832 Business Information & Media 346,675 253,610 786 601,071 Software & Hi-Tech 488,134 100,814 1,248 590,196 Life Sciences & Healthcare 344,148 37,378 444 381,970 Emerging Verticals 214,547 212,513 5,227 432,287 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 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 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 602,765 $ 391,479 $ 1,355 $ 995,599 Fixed-price 73,640 73,226 190 147,056 Licensing and other revenues 8,373 1,108 — 9,481 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 1,854,159 $ 1,233,271 $ 11,168 $ 3,098,598 Fixed-price 202,144 205,897 4,873 412,914 Licensing and other revenues 18,503 3,234 34 21,771 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 673,927 $ 405,030 $ 5,887 $ 1,084,844 Fixed-price 69,565 64,426 2,424 136,415 Licensing and other revenues 4,891 553 217 5,661 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 1,955,361 $ 1,172,981 $ 39,226 $ 3,167,568 Fixed-price 192,322 198,641 20,195 411,158 Licensing and other revenues 12,068 2,301 300 14,669 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395 Timing of Revenue Recognition The following tables present the timing of revenue recognition reconciled with the Company’s reportable segments (Note 15 “Segment Information”) for the periods indicated: Three Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 682,410 $ 465,286 $ 1,545 $ 1,149,241 Transferred at a point of time 2,368 527 — 2,895 Revenues $ 684,778 $ 465,813 $ 1,545 $ 1,152,136 Nine Months Ended September 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 2,066,081 $ 1,440,682 $ 16,042 $ 3,522,805 Transferred at a point of time 8,725 1,720 33 10,478 Revenues $ 2,074,806 $ 1,442,402 $ 16,075 $ 3,533,283 Three Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 746,352 $ 468,118 $ 8,316 $ 1,222,786 Transferred at a point of time 2,031 1,891 212 4,134 Revenues $ 748,383 $ 470,009 $ 8,528 $ 1,226,920 Nine Months Ended September 30, 2022 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 2,153,772 $ 1,371,390 $ 59,447 $ 3,584,609 Transferred at a point of time 5,979 2,533 274 8,786 Revenues $ 2,159,751 $ 1,373,923 $ 59,721 $ 3,593,395
Schedule of 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 September 30, 2023. The Company applies a practical expedient and does not disclose the value of unsatisfied performance obligations for contracts (i) that have an original expected duration of one year or less and (ii) 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 $ 12,016 $ 2,930 $ 931 $ — $ 15,877
Schedule of 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, net $ 29,331 $ 11,490 Contract liabilities included in Accrued expenses and other current liabilities $ 26,904 $ 36,036 Contract liabilities included in Other noncurrent liabilities $ 630 $ 42

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of 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 Nine Months Ended 2023 2022 2023 2022 Cost of revenues (exclusive of depreciation and amortization) $ 18,142 $ 17,474 $ 49,569 $ 31,782 Selling, general and administrative expenses 19,705 15,813 59,967 36,510 Total $ 37,847 $ 33,287 $ 109,536 $ 68,292
Schedule of 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, 2023 1,923 $ 98.92 Options granted 114 $ 295.73 Options exercised (292) $ 34.59 Options forfeited (3) $ 304.41 Options expired (4) $ 332.74 Options outstanding at September 30, 2023 1,738 $ 121.77 $ 253,440 3.5 Options vested and exercisable as of September 30, 2023 1,452 $ 88.07 $ 250,628 2.5 Options expected to vest as of September 30, 2023 270 $ 292.64 $ 2,739 8.5
Schedule of Service-Based Awards Activity	The table below summarizes activity related to the Company’s equity-classified and liability-classified service-based awards for the nine months ended September 30, 2023: 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 Unvested service-based awards outstanding at January 1, 2023 916 $ 291.19 99 $ 257.74 Awards granted 502 $ 296.40 36 $ 299.00 Awards modified (15) $ 278.52 15 $ 305.59 Awards vested (305) $ 270.64 (44) $ 239.75 Awards forfeited/cancelled (67) $ 306.98 (4) $ 244.87 Unvested service-based awards outstanding at September 30, 2023 1,031 $ 298.95 102 $ 287.41
Schedule of Performance-Based Awards Activity	The table below summarizes activity related to the Company’s equity-classified performance-based awards for the nine months ended September 30, 2023: 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, 2023 9 $ 165.87 15 $ 412.60 Awards vested (9) $ 165.87 (1) $ 438.26 Awards forfeited/cancelled — — (1) $ 363.93 Unvested performance-based awards outstanding at September 30, 2023 — $ — 13 $ 413.14

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of 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 Nine Months Ended 2023 2022 2023 2022 Numerator for basic and diluted earnings per share: Net income $ 97,204 $ 156,054 $ 319,529 $ 264,377 Numerator for basic and diluted earnings per share $ 97,204 $ 156,054 $ 319,529 $ 264,377 Denominator: Weighted average common shares for basic earnings per share 57,853 57,420 57,850 57,194 Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP 1,095 1,937 1,293 1,914 Weighted average common shares for diluted earnings per share 58,948 59,357 59,143 59,108 Net income per share: Basic $ 1.68 $ 2.72 $ 5.52 $ 4.62 Diluted $ 1.65 $ 2.63 $ 5.40 $ 4.47

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Revenues from External Customers and Operating Profit/(Loss), Before Unallocated Expenses	Revenues from external customers and operating profit/(loss), before unallocated expenses, by reportable segment for the three and nine months ended September 30, 2023 and 2022, were as follows: Three Months Ended Nine Months Ended 2023 2022 2023 2022 Segment revenues: North America $ 684,778 $ 748,383 $ 2,074,806 $ 2,159,751 Europe 465,813 470,009 1,442,402 1,373,923 Russia 1,545 8,528 16,075 59,721 Total segment revenues $ 1,152,136 $ 1,226,920 $ 3,533,283 $ 3,593,395 Segment operating profit/(loss): North America $ 132,438 $ 175,845 $ 386,929 $ 429,999 Europe 64,074 64,813 188,779 156,920 Russia (118) 1,507 (5,866) (16,315) Total segment operating profit $ 196,394 $ 242,165 $ 569,842 $ 570,604
Schedule of 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 Nine Months Ended 2023 2022 2023 2022 Total segment operating profit: $ 196,394 $ 242,165 $ 569,842 $ 570,604 Unallocated amounts: Stock-based compensation expense (37,847) (33,287) (109,536) (68,292) Amortization of intangibles assets (5,688) (5,584) (16,708) (16,584) Other acquisition-related expenses (867) (265) (2,448) (934) Loss on sale of business (25,922) — (25,922) — Other unallocated expenses (12,042) (22,802) (36,483) (82,305) Income from operations 114,028 180,227 378,745 402,489 Interest and other income, net 13,931 4,228 37,162 5,642 Foreign exchange gain/(loss) 3,893 6,691 (6,725) (102,035) Income before provision for income taxes $ 131,852 $ 191,146 $ 409,182 $ 306,096
Schedule of 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 Ukraine $ 65,277 $ 70,183 United States 56,995 68,804 Belarus 51,761 57,311 Poland 12,213 14,685 India 6,856 8,506 Hungary 6,752 8,552 Other 39,800 45,307 Total $ 239,654 $ 273,348
Schedule of Revenues by Customer Location	The table below presents information about the Company’s revenues by customer location for the three and nine months ended September 30, 2023 and 2022: Three Months Ended Nine Months Ended 2023 2022 2023 2022 United States $ 652,757 $ 715,314 $ 1,981,816 $ 2,059,293 United Kingdom 140,718 160,683 448,526 463,610 Switzerland 91,504 76,191 270,862 237,247 Netherlands 59,020 56,996 176,528 158,054 Germany 44,843 40,116 132,606 116,379 Canada 21,808 29,145 76,125 87,985 Russia 1,545 8,013 13,290 56,692 Other locations 139,941 140,462 433,530 414,135 Total $ 1,152,136 $ 1,226,920 $ 3,533,283 $ 3,593,395

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
Schedule of 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 Nine Months Ended 2023 2022 2023 2022 Foreign currency translation Beginning balance $ (81,158) $ (68,469) $ (101,780) $ (52,747) Foreign currency translation (33,292) (69,674) (9,231) (82,812) Net loss reclassified into Loss on sale of business 23,931 — 23,931 — Income tax benefit 3,560 12,751 121 10,167 Foreign currency translation, net of tax (5,801) (56,923) 14,821 (72,645) Ending balance $ (86,959) $ (125,392) $ (86,959) $ (125,392) Cash flow hedging instruments Beginning balance $ 10,920 $ (9,845) $ 8,306 $ (3,417) Unrealized (loss)/ gain in fair value (8,805) (15,222) 7,028 (72,827) Net (gain)/ loss reclassified into Cost of revenues (exclusive of depreciation and amortization) (8,764) 8,186 (21,248) 13,647 Net (gain)/ loss reclassified into Foreign exchange loss (211) 112 (178) 43,940 Income tax benefit 4,036 1,572 3,268 3,460 Cash flow hedging instruments, net of tax (13,744) (5,352) (11,130) (11,780) Ending balance (1) $ (2,824) $ (15,197) $ (2,824) $ (15,197) Defined benefit plans Beginning balance $ (1,847) $ 1,957 $ (1,847) $ 1,957 Ending balance $ (1,847) $ 1,957 $ (1,847) $ 1,957 Accumulated other comprehensive loss $ (91,630) $ (138,632) $ (91,630) $ (138,632)

BUSINESS AND SUMMARY OF SIGNI_3

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Risks and Uncertainties) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Cash and cash equivalents	$ 1,872,977	$ 1,681,344
Ukraine
Concentration Risk [Line Items]
Cash and cash equivalents	51,700
Belarus
Concentration Risk [Line Items]
Cash and cash equivalents	$ 37,100

IMPACT OF THE INVASION OF UKR_2

IMPACT OF THE INVASION OF UKRAINE (Narrative) (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022	Mar. 04, 2022
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	$ 239,654,000			$ 239,654,000		$ 273,348,000
Operating lease, right-of-use asset	136,311,000			136,311,000		148,780,000
Commitments related to operating lease agreements that have not yet commenced	12,300,000			12,300,000
Impairment charges				688,000	$ 21,212,000
Bad debt expense				2,739,000	12,888,000
Discontinued Operations, Disposed of by Sale
Unusual or Infrequent Item, or Both [Line Items]
Loss on sale of holdings	25,900,000
Humanitarian Commitment
Unusual or Infrequent Item, or Both [Line Items]
Commitments related to operating lease agreements that have not yet commenced	41,600,000			41,600,000
Nonoperating expense	3,600,000	$ 4,500,000		13,600,000	38,500,000
Humanitarian Commitment | Cost of revenues (exclusive of depreciation and amortization)
Unusual or Infrequent Item, or Both [Line Items]
Nonoperating expense	3,000,000	2,900,000		8,300,000	25,300,000
Humanitarian Commitment | Selling, general and administrative expenses
Unusual or Infrequent Item, or Both [Line Items]
Nonoperating expense	600,000	1,600,000		5,300,000	13,200,000
Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	65,277,000			65,277,000		$ 70,183,000
Operating lease, right-of-use asset	9,600,000			9,600,000
Ukraine | Cost of revenues (exclusive of depreciation and amortization)
Unusual or Infrequent Item, or Both [Line Items]
Standby resources expense	0	1,000,000		9,400,000	12,900,000
Ukraine | Selling, general and administrative expenses
Unusual or Infrequent Item, or Both [Line Items]
Standby resources expense	400,000	4,400,000		900,000	37,500,000
Ukraine | Other income/(expense)
Unusual or Infrequent Item, or Both [Line Items]
Impairment charges					1,300,000
Ukraine | Humanitarian Commitment
Unusual or Infrequent Item, or Both [Line Items]
Commitments related to operating lease agreements that have not yet commenced							$ 100,000,000
Russia
Unusual or Infrequent Item, or Both [Line Items]
Impairment of property, plant and equipment			$ 15,100,000
Operating lease, impairment loss			3,800,000
Goodwill, impairment loss			$ 700,000
Bad debt expense					5,700,000
Employee separation costs		$ 700,000			$ 16,900,000
Building | Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	51,500,000			51,500,000
Computer Equipment | Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	7,600,000			7,600,000
Furniture and Fixtures | Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	4,800,000			4,800,000
Leasehold Improvements | Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	$ 1,400,000			$ 1,400,000

ACQUISITIONS (Narrative) (Detai

ACQUISITIONS (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Sep. 30, 2023 USD ($) business	Dec. 31, 2022 USD ($) business
2022 Acquisitions purchase accounting adjustments
Business Acquisition [Line Items]
Number of acquisitions | business		2
Purchase price including contingent consideration		$ 13.6
Contingent consideration fair value		2.6
2022 Acquisitions purchase accounting adjustments | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, amount		$ 3.4
2023 Acquisitions
Business Acquisition [Line Items]
Number of acquisitions | business	1
Purchase price including contingent consideration	$ 28.9
Contingent consideration fair value	14.9
2023 Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, amount	$ 8.3

GOODWILL (Goodwill Roll Forward

GOODWILL (Goodwill Roll Forward) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Total
Beginning balance	$ 529,072
2022 Acquisitions purchase accounting adjustments	87
Effect of net foreign currency exchange rate changes	(1,519)
Ending balance	548,177
North America
Total
Beginning balance	216,960
2022 Acquisitions purchase accounting adjustments	0
2023 Acquisition	20,537
Effect of net foreign currency exchange rate changes	(24)
Ending balance	237,473
Europe
Total
Beginning balance	312,112
2022 Acquisitions purchase accounting adjustments	87
2023 Acquisition	0
Effect of net foreign currency exchange rate changes	(1,495)
Ending balance	310,704
Russia
Total
2023 Acquisition	$ 20,537

GOODWILL (Goodwill Accumulated

GOODWILL (Goodwill Accumulated Impairment Losses) (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Russia
Goodwill [Line Items]
Accumulated impairment loss	$ 2,900,000	$ 2,900,000
North America
Goodwill [Line Items]
Accumulated impairment loss	0	0
Europe
Goodwill [Line Items]
Accumulated impairment loss	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Financ

FAIR VALUE MEASUREMENTS (Financial Assets and Liabilities at Fair Value on Recurring Basis) (Details) - Recurring - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Financial Assets:
Rights to acquire noncontrolling interest in consolidated subsidiaries		$ 334
Total assets measured at fair value on a recurring basis	$ 2,136	12,525
Financial Liabilities:
Contingent consideration	28,150	24,308
Total liabilities measured at fair value on a recurring basis	33,939	33,658
Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	2,136	12,191
Financial Liabilities:
Foreign exchange derivative liabilities	5,789	9,350
Level 1
Financial Assets:
Rights to acquire noncontrolling interest in consolidated subsidiaries		0
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 Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	0	0
Financial Liabilities:
Foreign exchange derivative liabilities	0	0
Level 2
Financial Assets:
Rights to acquire noncontrolling interest in consolidated subsidiaries		0
Total assets measured at fair value on a recurring basis	2,136	12,191
Financial Liabilities:
Contingent consideration	0	0
Total liabilities measured at fair value on a recurring basis	5,789	9,350
Level 2 | Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	2,136	12,191
Financial Liabilities:
Foreign exchange derivative liabilities	5,789	9,350
Level 3
Financial Assets:
Rights to acquire noncontrolling interest in consolidated subsidiaries		334
Total assets measured at fair value on a recurring basis	0	334
Financial Liabilities:
Contingent consideration	28,150	24,308
Total liabilities measured at fair value on a recurring basis	28,150	24,308
Level 3 | Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	0	0
Financial Liabilities:
Foreign exchange derivative liabilities	$ 0	$ 0

FAIR VALUE MEASUREMENTS (Narrat

FAIR VALUE MEASUREMENTS (Narrative) (Details)	Sep. 30, 2023	Dec. 31, 2022
Maximum | Discount Rate
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input to determine fair value of contingent consideration	0.200	0.200

FAIR VALUE MEASUREMENTS (Acquis

FAIR VALUE MEASUREMENTS (Acquisition-Related Contingent Consideration Roll Forward) (Details) - Level 3 $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Amount
Beginning balance	$ 24,308
Ending balance	28,150
Changes in fair value of contingent consideration included in Interest and other income, net
Amount
2023 Acquisition	14,850
Changes in fair value of contingent consideration included in Interest and other income, net	1,814
Payment of contingent consideration for previously acquired businesses	(12,844)
Effect of foreign currency exchange rate changes, net	$ 22

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	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Balance
Financial Assets:
Cash equivalents:	$ 353,825	$ 312,321
Restricted cash	6,804	2,292
Financial Liabilities:
Deferred consideration for asset acquisition	55,501	53,636
Balance | Time deposits
Financial Assets:
Time deposits included in Short-term investments	60,431	60,336
Balance | Credit Facility 2021 | Revolving Credit Facility
Financial Liabilities:
Borrowings under the 2021 Credit Agreement	25,000	25,000
Balance | Money market funds
Financial Assets:
Cash equivalents:	154,147	312,321
Balance | Time deposits
Financial Assets:
Cash equivalents:	199,678
Estimated Fair Value
Financial Assets:
Cash equivalents:	353,825	312,321
Restricted cash	6,804	2,292
Financial Liabilities:
Deferred consideration for asset acquisition	55,501	53,636
Estimated Fair Value | Time deposits
Financial Assets:
Time deposits included in Short-term investments	60,431	60,336
Estimated Fair Value | Credit Facility 2021 | Revolving Credit Facility
Financial Liabilities:
Borrowings under the 2021 Credit Agreement	25,000	25,000
Estimated Fair Value | Money market funds
Financial Assets:
Cash equivalents:	154,147	312,321
Estimated Fair Value | Time deposits
Financial Assets:
Cash equivalents:	199,678
Estimated Fair Value | Level 1
Financial Assets:
Cash equivalents:	154,147	312,321
Restricted cash	6,804	2,292
Financial Liabilities:
Deferred consideration for asset acquisition	0	0
Estimated Fair Value | Level 1 | Time deposits
Financial Assets:
Time deposits included in Short-term investments	0	0
Estimated Fair Value | Level 1 | Credit Facility 2021 | Revolving Credit Facility
Financial Liabilities:
Borrowings under the 2021 Credit Agreement	0	0
Estimated Fair Value | Level 1 | Money market funds
Financial Assets:
Cash equivalents:	154,147	312,321
Estimated Fair Value | Level 1 | Time deposits
Financial Assets:
Cash equivalents:	0
Estimated Fair Value | Level 2
Financial Assets:
Cash equivalents:	199,678	0
Restricted cash	0	0
Financial Liabilities:
Deferred consideration for asset acquisition	55,501	53,636
Estimated Fair Value | Level 2 | Time deposits
Financial Assets:
Time deposits included in Short-term investments	60,431	60,336
Estimated Fair Value | Level 2 | Credit Facility 2021 | Revolving Credit Facility
Financial Liabilities:
Borrowings under the 2021 Credit Agreement	25,000	25,000
Estimated Fair Value | Level 2 | Money market funds
Financial Assets:
Cash equivalents:	0	0
Estimated Fair Value | Level 2 | Time deposits
Financial Assets:
Cash equivalents:	199,678
Estimated Fair Value | Level 3
Financial Assets:
Cash equivalents:	0	0
Restricted cash	0	0
Financial Liabilities:
Deferred consideration for asset acquisition	0	0
Estimated Fair Value | Level 3 | Time deposits
Financial Assets:
Time deposits included in Short-term investments	0	0
Estimated Fair Value | Level 3 | Credit Facility 2021 | Revolving Credit Facility
Financial Liabilities:
Borrowings under the 2021 Credit Agreement	0	0
Estimated Fair Value | Level 3 | Money market funds
Financial Assets:
Cash equivalents:	0	$ 0
Estimated Fair Value | Level 3 | Time deposits
Financial Assets:
Cash equivalents:	$ 0

FAIR VALUE MEASUREMENTS (Deferr

FAIR VALUE MEASUREMENTS (Deferred Consideration for Asset Acquisition) (Details) - Software Licenses - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Asset Acquisition [Line Items]
Purchase price		$ 66.1
Payment to acquire assets	$ 13.3
Deferred contingent consideration		$ 52.8
Discount Rate
Asset Acquisition [Line Items]
Discount rate		5.20%

FAIR VALUE MEASUREMENTS (Non Ma

FAIR VALUE MEASUREMENTS (Non Marketable Securities Without Readily Determinable Fair Value) (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
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	$ 31.7	$ 28.4

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Foreign current loss	$ (3,893)	$ (6,691)		$ 6,725	$ 102,035
Foreign Exchange Forward | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest | Reclassification out of Accumulated Other Comprehensive Income
Derivatives, Fair Value [Line Items]
Foreign current loss			$ 43,900
Foreign Exchange Derivative Contracts | Cash flow Hedging | Designated as Hedging Instruments | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	2,136			2,136		$ 12,191
Foreign Exchange Derivative Contracts | Cash flow Hedging | Designated as Hedging Instruments | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	5,789			5,789		1,445
Foreign Exchange Derivative Contracts | Cash flow Hedging | Not Designated as Hedging Instrument | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 0			$ 0		$ 7,905

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) $ in Millions	Sep. 30, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Commitments related to operating lease agreements that have not yet commenced	$ 12.3
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month 6 days
Lease term of lease agreements that have not yet commenced	2 months 12 days
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	8 years 3 months 18 days
Lease term of lease agreements that have not yet commenced	7 years 3 months 18 days

LEASES (Components of Lease Exp

LEASES (Components of Lease Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessee, Lease, Description [Line Items]
Total lease cost	$ 15,495	$ 15,383	$ 49,275	$ 51,476
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	11,592	12,204	34,725	40,303
Variable lease cost	2,905	2,263	9,941	7,791
Short-term lease cost	$ 998	$ 916	$ 4,609	$ 3,382

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 12,383	$ 13,024	$ 37,628	$ 43,490
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	3,815	6,111	10,843	30,843
Non-cash net increase/(decrease) due to lease modifications:
Operating lease right-of-use assets	1,312	3,260	7,203	(2,587)
Operating lease liabilities	$ 1,276	$ 3,163	$ 7,416	$ (3,946)

LEASES (Weighted Average Lease

LEASES (Weighted Average Lease Terms and Discount Rates) (Details)	Sep. 30, 2023	Sep. 30, 2022
Weighted average remaining lease term, in years:
Operating leases	5 years	5 years 6 months
Weighted average discount rate:
Operating leases	3.90%	2.40%

LEASES (Maturity of Operating L

LEASES (Maturity of Operating Lease Liabilities) (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Leases [Abstract]
2023 (excluding nine months ended September 30, 2023)	$ 11,491
2024	41,039
2025	32,609
2026	26,005
2027	16,942
Thereafter	32,083
Total lease payments	160,169
Less: imputed interest	(13,543)
Total	$ 146,626

DEBT (Details)

DEBT (Details) - Revolving Credit Facility - Line of Credit	Oct. 21, 2021 USD ($)	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 21, 2021 GBP (£)
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 700,000,000	$ 700,000,000	$ 700,000,000	£ 150,000,000
Additional potential borrowing capacity	$ 1,000,000,000
Overnight Bank Funding Rate
Debt Instrument [Line Items]
Variable interest rate spread	0.50%
SOFR
Debt Instrument [Line Items]
Variable interest rate spread	1%

DEBT (Schedule of Outstanding D

DEBT (Schedule of Outstanding Debt And Borrowing Capacity) (Details) - Revolving Credit Facility - Line of Credit	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)	Oct. 21, 2021 USD ($)	Oct. 21, 2021 GBP (£)
Debt Instrument [Line Items]
Outstanding debt	$ 25,000,000	$ 25,000,000
Interest rate	6.30%	5.20%
Available borrowing capacity	$ 675,000,000	$ 675,000,000
Maximum borrowing capacity	$ 700,000,000	$ 700,000,000	$ 700,000,000	£ 150,000,000

COST OPTIMIZATION PROGRAM (Narr

COST OPTIMIZATION PROGRAM (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Restructuring and Related Activities [Abstract]
Charges	$ 7,100	$ 7,116
Expected cost remaining	$ 15,000	$ 15,000

COST OPTIMIZATION PROGRAM (Acti

COST OPTIMIZATION PROGRAM (Activity in Restructuring Reserves) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2023
Restructuring Reserve [Roll Forward]
Balance at December 31, 2022		$ 0
Charges	$ 7,100	7,116
Payments Made		(3,379)
Balance at September 30. 2023	$ 3,737	$ 3,737

REVENUES (Disaggregation of Rev

REVENUES (Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Revenues	$ 1,152,136	$ 1,226,920	$ 3,533,283	$ 3,593,395
Revenues from performance obligations satisfied in previous period	9,200		7,100
Increase (decrease) in contract with customer, liability		12,300		7,200
Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	1,149,241	1,222,786	3,522,805	3,584,609
Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	2,895	4,134	10,478	8,786
Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	995,599	1,084,844	3,098,598	3,167,568
Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	147,056	136,415	412,914	411,158
Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	9,481	5,661	21,771	14,669
Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	262,957	280,402	814,776	822,039
Financial Services
Disaggregation of Revenue [Line Items]
Revenues	246,435	254,786	776,068	765,832
Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	183,861	208,898	575,925	601,071
Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	174,346	205,390	538,755	590,196
Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	124,244	129,675	349,943	381,970
Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	160,293	147,769	477,816	432,287
Americas
Disaggregation of Revenue [Line Items]
Revenues	677,410	747,091	2,066,299	2,155,496
EMEA
Disaggregation of Revenue [Line Items]
Revenues	446,237	438,216	1,369,259	1,283,152
APAC
Disaggregation of Revenue [Line Items]
Revenues	25,051	31,376	76,080	91,134
CEE
Disaggregation of Revenue [Line Items]
Revenues	3,438	10,237	21,645	63,613
North America
Disaggregation of Revenue [Line Items]
Revenues	684,778	748,383	2,074,806	2,159,751
North America | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	682,410	746,352	2,066,081	2,153,772
North America | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	2,368	2,031	8,725	5,979
North America | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	602,765	673,927	1,854,159	1,955,361
North America | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	73,640	69,565	202,144	192,322
North America | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	8,373	4,891	18,503	12,068
North America | Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	115,778	131,181	359,475	384,360
North America | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	131,499	134,673	410,527	381,887
North America | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	104,863	121,703	327,378	346,675
North America | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	136,520	170,818	422,073	488,134
North America | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	109,137	116,878	305,700	344,148
North America | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	86,981	73,130	249,653	214,547
North America | Americas
Disaggregation of Revenue [Line Items]
Revenues	654,717	723,015	1,991,871	2,080,752
North America | EMEA
Disaggregation of Revenue [Line Items]
Revenues	29,251	22,621	80,252	70,909
North America | APAC
Disaggregation of Revenue [Line Items]
Revenues	786	1,237	2,161	2,813
North America | CEE
Disaggregation of Revenue [Line Items]
Revenues	24	1,510	522	5,277
Europe
Disaggregation of Revenue [Line Items]
Revenues	465,813	470,009	1,442,402	1,373,923
Europe | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	465,286	468,118	1,440,682	1,371,390
Europe | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	527	1,891	1,720	2,533
Europe | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	391,479	405,030	1,233,271	1,172,981
Europe | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	73,226	64,426	205,897	198,641
Europe | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	1,108	553	3,234	2,301
Europe | Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	146,837	147,271	451,531	424,140
Europe | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	114,122	115,372	358,091	345,468
Europe | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	78,983	87,028	248,351	253,610
Europe | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	37,545	34,513	115,137	100,814
Europe | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	15,143	12,569	44,123	37,378
Europe | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	73,183	73,256	225,169	212,513
Europe | Americas
Disaggregation of Revenue [Line Items]
Revenues	22,693	23,575	73,797	72,351
Europe | EMEA
Disaggregation of Revenue [Line Items]
Revenues	416,986	415,595	1,289,007	1,212,144
Europe | APAC
Disaggregation of Revenue [Line Items]
Revenues	24,265	30,139	73,919	88,321
Europe | CEE
Disaggregation of Revenue [Line Items]
Revenues	1,869	700	5,679	1,107
Russia
Disaggregation of Revenue [Line Items]
Revenues	1,545	8,528	16,075	59,721
Russia | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	1,545	8,316	16,042	59,447
Russia | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	0	212	33	274
Russia | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	1,355	5,887	11,168	39,226
Russia | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	190	2,424	4,873	20,195
Russia | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	0	217	34	300
Russia | Travel & Consumer
Disaggregation of Revenue [Line Items]
Revenues	342	1,950	3,770	13,539
Russia | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	814	4,741	7,450	38,477
Russia | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	15	167	196	786
Russia | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	281	59	1,545	1,248
Russia | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	(36)	228	120	444
Russia | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	129	1,383	2,994	5,227
Russia | Americas
Disaggregation of Revenue [Line Items]
Revenues	0	501	631	2,393
Russia | EMEA
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	99
Russia | APAC
Disaggregation of Revenue [Line Items]
Revenues	0	0	0	0
Russia | CEE
Disaggregation of Revenue [Line Items]
Revenues	$ 1,545	$ 8,027	$ 15,444	$ 57,229

REVENUES (Revenue Expected to b

REVENUES (Revenue Expected to be Recognized in Future Related to Remaining Performance Obligations) (Details) - Fixed-price $ in Thousands	Sep. 30, 2023 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 15,877
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 12,016
Revenue, remaining performance obligation, expected timing of satisfaction, period	3 months
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	$ 2,930
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 931
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 3,100	$ 2,000	$ 27,400	$ 34,000
Trade receivables and contract assets, net
Change in Contract with Customer, Liability [Abstract]
Contract assets	29,331		29,331		$ 11,490
Accrued expenses and other current liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	26,904		26,904		36,036
Other noncurrent liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	$ 630		$ 630		$ 42

STOCKHOLDERS_ EQUITY (Component

STOCKHOLDERS’ EQUITY (Components of Stock-Based Compensation Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 37,847	$ 33,287	$ 109,536	$ 68,292
Cost of revenues (exclusive of depreciation and amortization)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	18,142	17,474	49,569	31,782
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 19,705	$ 15,813	$ 59,967	$ 36,510

STOCKHOLDERS_ EQUITY (Stock Opt

STOCKHOLDERS’ EQUITY (Stock Options Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2023
Number of Options
Beginning balance (in shares)	1,923
Options granted (in shares)	114
Options exercised (in shares)	(292)
Options forfeited (in shares)	(3)
Options expired (in shares)	(4)
Ending balance (in shares)	1,738
Options vested and exercisable at period end (in shares)	1,452
Options expected to vest at period end (in shares)	270
Weighted Average Exercise Price
Options outstanding at beginning of period (in usd per share)	$ 98.92
Options granted (in usd per share)	295.73
Options exercised (in usd per share)	34.59
Options forfeited (in usd per share)	304.41
Options expired (in usd per share)	332.74
Options outstanding at end of period (in usd per share)	121.77
Options vested and exercisable at period end (in usd per share)	88.07
Options expected to vest at period end (in usd per share)	$ 292.64
Aggregate Intrinsic Value
Options outstanding at September 30, 2023	$ 253,440
Options vested and exercisable as of September 30, 2023	250,628
Options expected to vest as of September 30, 2023	$ 2,739
Weighted Average Remaining Contractual Term (in years)
Options outstanding at September 30, 2023	3 years 6 months
Options vested and exercisable as of September 30, 2023	2 years 6 months
Options expected to vest as of September 30, 2023	8 years 6 months

STOCKHOLDERS_ EQUITY (Stock O_2

STOCKHOLDERS’ EQUITY (Stock Option Additional Information) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 26.5
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining requisite service period	2 years 3 months 18 days

STOCKHOLDERS_ EQUITY (Restricte

STOCKHOLDERS’ EQUITY (Restricted Stock and Restricted Stock Units Activity) (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2023 $ / shares shares
Service Based Awards | Equity Classified Award | Equity-Settled Award | Restricted Stock Units
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	916
Awards granted (in shares) | shares	502
Awards modified (in shares) | shares	(15)
Awards vested (in shares) | shares	(305)
Awards forfeited/cancelled (in shares) | shares	(67)
Unvested awards outstanding at period end (in shares) | shares	1,031
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 291.19
Awards granted (in usd per share) | $ / shares	296.40
Awards modified (in usd per share) | $ / shares	278.52
Awards vested (in usd per share) | $ / shares	270.64
Awards forfeited/cancelled (in usd per share) | $ / shares	306.98
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 298.95
Service Based Awards | Liability Classified Award | Cash-Settled Award | Restricted Stock Units
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	99
Awards granted (in shares) | shares	36
Awards modified (in shares) | shares	15
Awards vested (in shares) | shares	(44)
Awards forfeited/cancelled (in shares) | shares	(4)
Unvested awards outstanding at period end (in shares) | shares	102
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 257.74
Awards granted (in usd per share) | $ / shares	299
Awards modified (in usd per share) | $ / shares	305.59
Awards vested (in usd per share) | $ / shares	239.75
Awards forfeited/cancelled (in usd per share) | $ / shares	244.87
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 287.41
Performance Based Awards | Equity Classified Award | Equity-Settled Award | Restricted Stock Units
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	15
Awards vested (in shares) | shares	(1)
Awards forfeited/cancelled (in shares) | shares	(1)
Unvested awards outstanding at period end (in shares) | shares	13
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 412.60
Awards vested (in usd per share) | $ / shares	438.26
Awards forfeited/cancelled (in usd per share) | $ / shares	363.93
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 413.14
Performance Based Awards | Equity Classified Award | Equity-Settled Award | Restricted Stock
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	9
Awards vested (in shares) | shares	(9)
Awards forfeited/cancelled (in shares) | shares	0
Unvested awards outstanding at period end (in shares) | shares	0
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 165.87
Awards vested (in usd per share) | $ / shares	165.87
Awards forfeited/cancelled (in usd per share) | $ / shares	0
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 0

STOCKHOLDERS_ EQUITY (Restric_2

STOCKHOLDERS’ EQUITY (Restricted Stock and Restricted Stock Units Additional Information) (Details) - USD ($) shares in Thousands		3 Months Ended		9 Months Ended
	Feb. 13, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase program, amount	$ 500,000,000
Share repurchase program term	24 months
Shares acquired during period (in shares)		318		543
Value of shares acquired		$ 78,500,000		$ 128,400,000
Stock repurchases, remaining balance		371,600,000		371,600,000
Emakina Group SA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity granted				25,400,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		1,100,000		$ 1,100,000
Weighted-average remaining requisite service period				1 month 6 days
Offering period				6 months
ESPP purchase price of common stock, percent of market price				85%
Issuance of common stock from employee stock purchase plan (in shares)			55	77	55
Stock based compensation expense		3,100,000	$ 4,700,000	$ 9,700,000	$ 10,000,000
Equity Classified Award | Service Based Awards | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		225,800,000		$ 225,800,000
Weighted-average remaining requisite service period				2 years 8 months 12 days
Equity Classified Award | Performance Based Awards | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		2,400,000		$ 2,400,000
Weighted-average remaining requisite service period				2 years 2 months 12 days
Liability Classified Award | Service Based Awards | Restricted Stock Units | Cash-Settled Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		19,300,000		$ 19,300,000
Weighted-average remaining requisite service period				2 years 6 months
Liability Classified Award | Service Based Awards | Restricted Stock Units | Cash-Settled Award | Accrued compensation and benefits expenses
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Liability associated with RSUs		$ 4,400,000		$ 4,400,000		$ 10,200,000

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Effective tax rate	26.30%	18.40%	21.90%	13.60%
Excess tax benefit	$ 1.7	$ 10.9	$ 15.1	$ 31.4
One-time tax benefit		$ 1.3		$ 8.5
Tax effect of disposal of business	$ 3.6		$ 3.6

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator for basic and diluted earnings per share:
Net income	$ 97,204	$ 120,033	$ 102,292	$ 156,054	$ 18,604	$ 89,719	$ 319,529	$ 264,377
Numerator for basic earnings per share	97,204			156,054			319,529	264,377
Numerator for diluted earnings per share	$ 97,204			$ 156,054			$ 319,529	$ 264,377
Denominator:
Weighted average common shares for basic earnings per share (in shares)	57,853			57,420			57,850	57,194
Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP (in shares)	1,095			1,937			1,293	1,914
Weighted average common shares for diluted earnings per share (in shares)	58,948			59,357			59,143	59,108
Net income per share:
Basic (in usd per share)	$ 1.68			$ 2.72			$ 5.52	$ 4.62
Diluted (in usd per share)	$ 1.65			$ 2.63			$ 5.40	$ 4.47
Anti-dilutive options not included in the calculation (in shares)	452			158			410	252

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Building Acquisition Commitments) (Details) - USD ($)	Mar. 31, 2023	Sep. 30, 2023	Mar. 04, 2022
Other Commitments [Line Items]
Commitment		$ 12,300,000
Deferred consideration		60,000,000
Deferred consideration in remainder of 2023		14,200,000
Deferred consideration in 2024		14,000,000
Deferred consideration in 2025		15,100,000
Deferred consideration in 2026		16,700,000
Cloud Services
Other Commitments [Line Items]
Contractual term	5 years
Total commitment amount	$ 75,000,000
Contractual commitment (in percentage)	20%
Humanitarian Commitment
Other Commitments [Line Items]
Commitment		$ 41,600,000
Ukraine | Humanitarian Commitment
Other Commitments [Line Items]
Commitment			$ 100,000,000

SEGMENT INFORMATION (Revenues f

SEGMENT INFORMATION (Revenues from External Customers and Operating Profit Before Unallocated Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting Information [Line Items]
Revenues	$ 1,152,136	$ 1,226,920	$ 3,533,283	$ 3,593,395
Total segment operating profit	114,028	180,227	378,745	402,489
Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	196,394	242,165	569,842	570,604
North America
Segment Reporting Information [Line Items]
Revenues	684,778	748,383	2,074,806	2,159,751
North America | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	132,438	175,845	386,929	429,999
Europe
Segment Reporting Information [Line Items]
Revenues	465,813	470,009	1,442,402	1,373,923
Europe | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	64,074	64,813	188,779	156,920
Russia
Segment Reporting Information [Line Items]
Revenues	1,545	8,528	16,075	59,721
Russia | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	$ (118)	$ 1,507	$ (5,866)	$ (16,315)

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		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating profit:	$ 114,028	$ 180,227	$ 378,745	$ 402,489
Stock-based compensation expense	(37,847)	(33,287)	(109,536)	(68,292)
Loss on sale of business	(25,922)	0	(25,922)	0
Interest and other income, net	13,931	4,228	37,162	5,642
Foreign exchange gain/(loss)	3,893	6,691	(6,725)	(102,035)
Income before provision for income taxes	131,852	191,146	409,182	306,096
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating profit:	196,394	242,165	569,842	570,604
Unallocated Amounts
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Stock-based compensation expense	(37,847)	(33,287)	(109,536)	(68,292)
Amortization of intangibles assets	(5,688)	(5,584)	(16,708)	(16,584)
Other acquisition-related expenses	(867)	(265)	(2,448)	(934)
Loss on sale of business			(25,922)	0
Other unallocated expenses	$ (12,042)	$ (22,802)	$ (36,483)	$ (82,305)

SEGMENT INFORMATION (Physical L

SEGMENT INFORMATION (Physical Location and Values of Long-Lived Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 239,654	$ 273,348
Ukraine
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	65,277	70,183
United States
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	56,995	68,804
Belarus
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	51,761	57,311
Poland
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	12,213	14,685
India
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	6,856	8,506
Hungary
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	6,752	8,552
Other
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 39,800	$ 45,307

SEGMENT INFORMATION (Revenues b

SEGMENT INFORMATION (Revenues by Customer Location) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 1,152,136	$ 1,226,920	$ 3,533,283	$ 3,593,395
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	652,757	715,314	1,981,816	2,059,293
United Kingdom
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	140,718	160,683	448,526	463,610
Switzerland
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	91,504	76,191	270,862	237,247
Netherlands
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	59,020	56,996	176,528	158,054
Germany
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	44,843	40,116	132,606	116,379
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	21,808	29,145	76,125	87,985
Russia
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	1,545	8,013	13,290	56,692
Other locations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 139,941	$ 140,462	$ 433,530	$ 414,135

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 3,001,532				$ 3,001,532
Other comprehensive (loss)/income	$ (19,545)	$ 5,875	17,361	$ (62,275)	$ 9,793	$ (31,943)	3,691	$ (84,425)
Ending balance	3,299,439						3,299,439
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(81,158)		(101,780)	(68,469)		(52,747)	(101,780)	(52,747)
Unrealized (loss)/ gain in fair value	(33,292)			(69,674)			(9,231)	(82,812)
Net loss reclassified into Loss on sale of business	23,931			0			23,931	0
Income tax benefit	3,560			12,751			121	10,167
Other comprehensive (loss)/income	(5,801)			(56,923)			14,821	(72,645)
Ending balance	(86,959)	(81,158)		(125,392)	(68,469)		(86,959)	(125,392)
Cash flow hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	10,920		8,306	(9,845)		(3,417)	8,306	(3,417)
Unrealized (loss)/ gain in fair value	(8,805)			(15,222)			7,028	(72,827)
Net (gain)/ loss reclassified into Cost of revenues (exclusive of depreciation and amortization)	(8,764)			8,186			(21,248)	13,647
Net (gain)/ loss reclassified into Foreign exchange loss	(211)			112			(178)	43,940
Income tax benefit	4,036			1,572			3,268	3,460
Other comprehensive (loss)/income	(13,744)			(5,352)			(11,130)	(11,780)
Ending balance	(2,824)	10,920		(15,197)	(9,845)		(2,824)	(15,197)
Defined benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(1,847)		(1,847)	1,957		1,957	(1,847)	1,957
Ending balance	(1,847)	(1,847)		1,957	1,957		(1,847)	1,957
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other comprehensive (loss)/income	(19,545)	$ 5,875	$ 17,361	(62,275)	$ 9,793	$ (31,943)
Ending balance	$ (91,630)			$ (138,632)			$ (91,630)	$ (138,632)