EPAM Systems (EPAM) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
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		57,974,371
Entity Central Index Key	0001352010
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus (Q1,Q2,Q3,FY)	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 1,983,721	$ 2,036,235
Trade receivables and contract assets, net of allowance of $8,403 and $11,864, respectively	931,409	897,032
Short-term investments	61,625	60,739
Prepaid and other current assets	106,398	97,355
Total current assets	3,083,153	3,091,361
Property and equipment, net	222,244	235,053
Operating lease right-of-use assets, net	135,754	134,898
Intangible assets, net	80,756	71,118
Goodwill	595,220	562,459
Deferred tax assets	197,474	197,901
Other noncurrent assets	59,976	59,575
Total assets	4,374,577	4,352,365
Current liabilities
Accounts payable	27,247	31,992
Accrued compensation and benefits expenses	438,216	412,747
Accrued expenses and other current liabilities	122,900	124,823
Income taxes payable, current	33,962	38,812
Operating lease liabilities, current	36,205	36,558
Total current liabilities	658,530	644,932
Long-term debt	25,787	26,126
Operating lease liabilities, noncurrent	110,368	109,261
Other noncurrent liabilities	104,207	100,576
Total liabilities	898,892	880,895
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, $0.001 par value; 160,000 shares authorized; 57,933 shares issued and outstanding at March 31, 2024, and 57,787 shares issued and outstanding at December 31, 2023	58	58
Additional paid-in capital	1,039,647	1,008,766
Retained earnings	2,496,757	2,501,107
Accumulated other comprehensive loss	(61,352)	(39,040)
Total EPAM Systems, Inc. stockholders’ equity	3,475,110	3,470,891
Noncontrolling interest in consolidated subsidiaries	575	579
Total equity	3,475,685	3,471,470
Total liabilities and equity	$ 4,374,577	$ 4,352,365

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Current assets
Trade receivables and contract assets allowance	$ 8,403	$ 11,864
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)	57,933,000	57,787,000
Common stock, shares outstanding (in shares)	57,933,000	57,787,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Revenues	$ 1,165,465	$ 1,210,941
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization)	834,334	855,901
Selling, general and administrative expenses	198,453	211,887
Depreciation and amortization expense	22,146	22,782
Income from operations	110,532	120,371
Interest and other income, net	15,042	11,521
Foreign exchange loss	(1,919)	(4,608)
Income before provision for income taxes	123,655	127,284
Provision for income taxes	7,412	24,992
Net income	$ 116,243	$ 102,292
Net income per share:
Basic (in usd per share)	$ 2.01	$ 1.77
Diluted (in usd per share)	$ 1.97	$ 1.73
Shares used in calculation of net income per share:
Basic (in shares)	57,837	57,702
Diluted (in shares)	58,931	59,298

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 116,243	$ 102,292
Other comprehensive (loss)/income:
Change in foreign currency translation adjustments, net of tax	(18,712)	13,227
Change in unrealized (loss)/gain on hedging instruments, net of tax	(3,782)	4,134
Defined benefit pension plans - actuarial gain, net of tax	182	0
Other comprehensive (loss)/income	(22,312)	17,361
Comprehensive income	$ 93,931	$ 119,653

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	Non-controlling interest in consolidated subsidiaries
Balance, beginning of period (in shares) at Dec. 31, 2022		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 (loss) income	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, 2023	57,787	57,787
Balance, beginning of period at Dec. 31, 2023	$ 3,471,470	$ 58		1,008,766	2,501,107	$ 0	(39,040)	579
Treasury stock, beginning of period (in shares) at Dec. 31, 2023						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			261
Equity withheld for employee taxes (in shares)		(88)
Equity withheld for employee taxes	(26,012)			(26,012)
Stock-based compensation expense	$ 41,642			41,642
Exercise of stock options (in shares)	370	369
Exercise of stock options	$ 15,251			15,251
Repurchase of common stock (in shares)		(396)
Repurchase of common stock	(120,593)				(120,593)
Other comprehensive (loss) income	(22,316)						(22,312)	(4)
Net income	$ 116,243				116,243
Balance, end of period (in shares) at Mar. 31, 2024	57,933	57,933
Balance, end of period at Mar. 31, 2024	$ 3,475,685	$ 58		$ 1,039,647	$ 2,496,757	$ 0	$ (61,352)	$ 575
Treasury stock, end of period (in shares) at Mar. 31, 2024						0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 116,243	$ 102,292
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	22,146	22,782
Operating lease right-of-use assets amortization expense	9,434	10,043
Bad debt (recovery)/expense	(1,438)	182
Deferred taxes	1,866	823
Stock-based compensation expense	44,791	38,579
Unrealized gain on derivative instruments	0	(7,904)
Impairment charges	45	88
Other	10,484	(3,268)
Changes in assets and liabilities:
Trade receivables and contract assets	(36,161)	(3,573)
Prepaid and other assets	(4,215)	(105)
Accounts payable	(5,483)	1,494
Accrued expenses and other liabilities	(1,749)	(58,463)
Operating lease liabilities	(9,943)	(10,672)
Income taxes payable	(16,100)	(4,964)
Net cash provided by operating activities	129,920	87,334
Cash flows from investing activities:
Purchases of property and equipment	(6,749)	(7,913)
Purchases of short-term investments	(1,217)	0
Proceeds from short-term investments	310	0
Acquisition of business, net of cash acquired (Note 3)	(44,139)	0
Purchases of non-marketable securities	(200)	(1,906)
Other investing activities, net	1,005	(7,898)
Net cash used in investing activities	(50,990)	(17,717)
Cash flows from financing activities:
Proceeds from issuance of stock under the employee incentive programs	14,611	2,488
Payments of withholding taxes related to net share settlements of restricted stock units	(2,790)	(3,153)
Proceeds from debt	0	172
Repayment of debt	(589)	(1,411)
Repurchase of common stock	(120,593)	(8,510)
Payment of contingent consideration for previously acquired business	(2,375)	(4,678)
Other financing activities, net	(345)	(226)
Net cash used in financing activities	(112,081)	(15,318)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(19,560)	14,070
Net (decrease)/increase in cash, cash equivalents and restricted cash	(52,711)	68,369
Cash, cash equivalents and restricted cash, beginning of period	2,043,108	1,683,636
Cash, cash equivalents and restricted cash, end of period	$ 1,990,397	$ 1,752,005

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 1,983,721	$ 2,036,235
Restricted cash in Prepaid and other current assets	3,051	5,294
Restricted cash in Other noncurrent assets	3,625	1,579
Total restricted cash	6,676	6,873
Total cash, cash equivalents and restricted cash	$ 1,990,397	$ 2,043,108

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION 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 clients across six continents. In a business landscape that is constantly challenged by the pressures of digitization, EPAM focuses on building long-term partnerships with clients in various industries through delivery of innovative and scalable software solutions, integrated strategy, experience and technology consulting, and a continually evolving mix of advanced capabilities. 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, 2023 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 March 31, 2024 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, 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 March 31, 2024, the Company had $57.0 million of cash and cash equivalents in banks in Ukraine and $31.0 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. In April 2024, Belarus instituted new restrictions on distributing dividends from Belarus to shareholders in certain countries, including the U.S. The restrictions are initially scheduled to remain in place until the end of 2025 and may prevent EPAM from distributing excess funds, if any, out of Belarus. The Company does not expect these new restrictions to have a material impact on its ability to meet its worldwide cash obligations during this period. 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. Trade receivables are generally dispersed across many clients 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 the Company’s clients 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, Hungarian forints, Mexican pesos, Canadian dollars, Colombian pesos, Armenian drams 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 information on the Company’s hedging program. 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 statements. 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. Unless otherwise discussed below, the Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial statements upon adoption. During the three months ended March 31, 2024, there have been no material updates regarding pending accounting standards as reported in our Annual Report on Form 10-K for the year ended December 31, 2023.

IMPACT OF THE INVASION OF UKRAI

IMPACT OF THE INVASION OF UKRAINE	3 Months Ended
	Mar. 31, 2024
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 through the issuance date of these interim financial statements, there has been no resolution to this attack. As of March 31, 2024, the Company had $60.8 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 $51.7 million, laptops with a net book value of $4.5 million, most of which are in the possession of employees, various office furniture, equipment and supplies with a net book value of $3.8 million, and leasehold improvements located throughout Ukraine with a net book value of $0.8 million. Additionally, as of March 31, 2024, the Company had Operating lease right-of-use assets located throughout Ukraine with a net book value of $5.5 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 clients and employees and the work of EPAM volunteers on the ground. During the three months ended March 31, 2024 and 2023, the Company expensed $3.3 million and $6.1 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 amounts for the three months ended March 31, 2024 and 2023, $0.7 million and $2.5 million, respectively, is classified in Cost of revenues (exclusive of depreciation and amortization), and $2.6 million and $3.6 million, respectively, is classified in Selling, general and administrative expenses on the condensed consolidated financial statements. As of March 31, 2024, the Company has $34.5 million remaining to be expensed under this humanitarian commitment. Following the invasion, the Company executed its business continuity plans to assist relocating employees residing in Ukraine and the surrounding region, who were 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 clients 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 months ended March 31, 2024, the Company incurred no expenses related to the standby resources and incurred expenses of $0.7 million related to its geographic repositioning efforts, classified as Selling, general and administrative expenses. During the three months ended March 31, 2023, the Company incurred expenses of $7.4 million related to the standby resources, classified as Cost of revenues (exclusive of depreciation and amortization) and $0.2 million related to its geographic repositioning efforts, classified as Selling, general and administrative expenses.

ACQUISITIONS

ACQUISITIONS	3 Months Ended
	Mar. 31, 2024
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS 2023 Acquisitions — During the year ended December 31, 2023, the Company completed two acquisitions with a total purchase price of $42.6 million including contingent consideration with acquisition-date fair value of $14.9 million. These acquisitions expanded EPAM’s capabilities in software design and product development, as well as added $13.9 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. 2024 Acquisitions - During the three months ended March 31, 2024, the Company completed two acquisitions with a total purchase price of $53.7 million including contingent consideration with acquisition-date fair value of $7.3 million. These acquisitions expanded EPAM’s geographical reach across Latin America and Europe, as well as added $16.6 million of intangible assets, consisting mainly of customer relationships. Pro forma results of operations have not been presented because the effect of these acquisitions on the Company’s condensed consolidated financial statements was not material.

GOODWILL

GOODWILL	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL	GOODWILL Goodwill by reportable segment was as follows: North America Europe Total Balance as of January 1, 2024 $ 241,860 $ 320,599 $ 562,459 2024 Acquisitions 24,466 12,847 37,313 2023 Acquisitions purchase accounting adjustments 805 — 805 Effect of net foreign currency exchange rate changes (181) (5,176) (5,357) Balance as of March 31, 2024 $ 266,950 $ 328,270 $ 595,220 There were no accumulated impairment losses in the North America or Europe reportable segments as of March 31, 2024 or December 31, 2023.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023: As of March 31, 2024 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 5,949 $ — $ 5,949 $ — Total assets measured at fair value on a recurring basis $ 5,949 $ — $ 5,949 $ — Foreign exchange derivative liabilities $ 699 $ — $ 699 $ — Contingent consideration liabilities 28,882 — — 28,882 Total liabilities measured at fair value on a recurring basis $ 29,581 $ — $ 699 $ 28,882 As of December 31, 2023 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 10,416 $ — $ 10,416 $ — Total assets measured at fair value on a recurring basis $ 10,416 $ — $ 10,416 $ — Foreign exchange derivative liabilities $ 248 $ — $ 248 $ — Contingent consideration liabilities 23,150 — — 23,150 Total liabilities measured at fair value on a recurring basis $ 23,398 $ — $ 248 $ 23,150 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 for the 2024 Acquisitions ranged from a minimum of 12% to a maximum of 20%. The discount rate used to determine the fair value of contingent consideration for the 2023 Acquisitions was 16.0%. 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 liabilities using significant unobservable inputs for the three months ended March 31, 2024 is as follows: Amount Contingent consideration liabilities as of January 1, 2024 $ 23,150 Acquisition date fair value of contingent consideration — 2024 Acquisitions 7,256 Changes in fair value of contingent consideration included in Interest and other income, net 1,050 Payment of contingent consideration for previously acquired businesses (2,500) Effect of foreign currency exchange rate changes, net (74) Contingent consideration liabilities as of March 31, 2024 $ 28,882 Financial Assets and Liabilities Not Measured at Fair Value on a Recurring Basis The following tables present the estimated fair values of the Company’s financial assets and liabilities not measured at fair value on a recurring basis as of the dates indicated: Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 March 31, 2024 Financial Assets: Cash equivalents: Money market funds $ 127,993 $ 127,993 $ 127,993 $ — $ — Time deposits 197,701 197,701 — 197,701 — Total cash equivalents $ 325,694 $ 325,694 $ 127,993 $ 197,701 $ — Time deposits included in Short-term investments $ 61,625 $ 61,625 $ — $ 61,625 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 45,820 $ 45,820 $ — $ 45,820 $ — Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 December 31, 2023 Financial Assets: Cash equivalents: Money market funds $ 168,120 $ 168,120 $ 168,120 $ — $ — Time deposits 105,210 105,210 — 105,210 — Total cash equivalents $ 273,330 $ 273,330 $ 168,120 $ 105,210 $ — Time deposits included in Short-term investments $ 60,739 $ 60,739 $ — $ 60,739 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 46,954 $ 46,954 $ — $ 46,954 $ — 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 $31.9 million and $31.7 million as of March 31, 2024 and December 31, 2023, respectively, and is classified as Other noncurrent assets in the Company’s condensed consolidated balance sheets.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS	3 Months Ended
	Mar. 31, 2024
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. As of March 31, 2024, 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 March 31, 2024 and December 31, 2023 were as follows: As of March 31, 2024 As of December 31, 2023 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts - Prepaid expenses and other current assets $ 5,949 $ 10,416 Accrued expenses and other current liabilities $ 699 $ 248

LEASES

LEASES	3 Months Ended
	Mar. 31, 2024
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 7.8 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 not material for the three months ended March 31, 2024 and 2023. During the three months ended March 31, 2024 and 2023, the components of lease cost were as follows: Three Months Ended Income Statement Classification 2024 2023 Operating lease cost Selling, general and administrative expenses $ 10,853 $ 11,183 Variable lease cost Selling, general and administrative expenses 2,629 3,648 Short-term lease cost Selling, general and administrative expenses 959 2,656 Total lease cost $ 14,441 $ 17,487 Supplemental cash flow information related to leases for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 11,703 $ 11,719 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 7,653 $ 3,349 Non-cash net increase due to lease modifications: Operating lease right-of-use assets $ 5,299 $ 1,383 Operating lease liabilities $ 5,190 $ 1,114 Weighted average remaining lease term and discount rate as of March 31, 2024 and 2023 were as follows: As of March 31, 2024 As of March 31, 2023 Weighted average remaining lease term, in years: Operating leases 4.9 5.3 Weighted average discount rate: Operating leases 4.3 % 3.3 % As of March 31, 2024, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2024 (excluding three months ended March 31, 2024) $ 31,706 2025 36,502 2026 31,054 2027 22,461 2028 18,596 Thereafter 20,637 Total lease payments 160,956 Less: imputed interest (14,383) Total $ 146,573 The Company had committed to payments of $4.7 million related to operating lease agreements that had not yet commenced as of March 31, 2024. These operating leases will commence on various dates during 2024 with lease terms ranging from 0.8 to 5.0 years. The Company did not have any material finance lease agreements that had not yet commenced.

DEBT

DEBT	3 Months Ended
	Mar. 31, 2024
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. As of March 31, 2024, the Company’s outstanding borrowings are subject to a SOFR-based interest rate, which resets regularly at issuance, based on lending terms. 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 March 31, 2024, 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 % 6.3 % Available borrowing capacity $ 675,000 $ 675,000 Maximum borrowing capacity $ 700,000 $ 700,000

COST OPTIMIZATION PROGRAM

COST OPTIMIZATION PROGRAM	3 Months Ended
	Mar. 31, 2024
Restructuring and Related Activities [Abstract]
COST OPTIMIZATION PROGRAM	COST OPTIMIZATION PROGRAM During the 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 total costs related to the Cost Optimization Program 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 presented in our segment reporting as part of “Other unallocated expenses” (See Note 15 “Segment Information”). Activity in the Company’s restructuring reserves was as follows: Balance at December 31, 2023 Charges Payments Made Balance at March 31, 2024 2023 Cost Optimization Program Employee separation costs $ 6,966 $ 7,017 $ (11,326) $ 2,657 Total $ 6,966 $ 7,017 $ (11,326) $ 2,657 The Company expects to complete all restructuring actions commenced during the year ended December 31, 2023 by the end of the first half of 2024 and to incur additional charges of approximately $3.0 million related primarily to employee severance. 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	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES Disaggregation of Revenues The following tables present the disaggregation of the Company’s revenues by client location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 15 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Client Locations Americas $ 668,182 $ 24,738 $ 692,920 EMEA 35,824 413,423 449,247 APAC 723 22,575 23,298 CEE (1) — — — Revenues $ 704,729 $ 460,736 $ 1,165,465 (1) As a result of the sale of the Company’s remaining holdings in Russia to a third-party on July 26, 2023, revenues from the CEE region are no longer material. Starting in 2024, revenues from the CEE region are included in the EMEA region. Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Client Locations Americas $ 683,553 $ 25,954 $ 295 $ 709,802 EMEA 25,372 438,565 — 463,937 APAC 726 26,084 — 26,810 CEE 306 2,544 7,542 10,392 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 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 March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 117,691 $ 141,439 $ 259,130 Financial Services 124,292 118,444 242,736 Software & Hi-Tech 133,194 40,238 173,432 Business Information & Media 106,692 63,626 170,318 Life Sciences & Healthcare 121,717 18,492 140,209 Emerging Verticals 101,143 78,497 179,640 Revenues $ 704,729 $ 460,736 $ 1,165,465 Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 123,659 $ 153,055 $ 1,646 $ 278,360 Financial Services 143,850 123,608 3,207 270,665 Software & Hi-Tech 149,798 38,682 711 189,191 Business Information & Media 116,158 86,108 114 202,380 Life Sciences & Healthcare 96,597 14,526 135 111,258 Emerging Verticals 79,895 77,168 2,024 159,087 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 (1) The Company renamed the Travel & Consumer vertical to Consumer Goods, Retail & Travel to better reflect the mix of clients included in this vertical. This constitutes a naming change only and no changes were made to amounts reported. 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 March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Contract Types Time-and-material $ 605,696 $ 375,830 $ 981,526 Fixed-price 92,035 84,289 176,324 Licensing and other revenues 6,998 617 7,615 Revenues $ 704,729 $ 460,736 $ 1,165,465 Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 644,628 $ 425,598 $ 4,753 $ 1,074,979 Fixed-price 61,231 66,203 3,071 130,505 Licensing and other revenues 4,098 1,346 13 5,457 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 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 March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 700,384 $ 460,655 $ 1,161,039 Transferred at a point of time 4,345 81 4,426 Revenues $ 704,729 $ 460,736 $ 1,165,465 Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 707,034 $ 492,397 $ 7,824 $ 1,207,255 Transferred at a point of time 2,923 750 13 3,686 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 During the three months ended March 31, 2024, the Company recognized $13.1 million of revenues from performance obligations satisfied in previous periods compared to $7.2 million during the three months ended March 31, 2023. The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of March 31, 2024. 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 $ 18,228 $ 777 $ — $ — $ 19,005 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 $ 31,117 $ 24,309 Contract liabilities included in Accrued expenses and other current liabilities $ 34,390 $ 27,988 Contract liabilities included in Other noncurrent liabilities $ 496 $ 951 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, 2023 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 clients for revenues not yet earned and such amounts are anticipated to be recorded as revenues when services are performed in subsequent periods. Contract liabilities have increased from December 31, 2023 primarily due to higher levels of advance collections. During the three months ended March 31, 2024, the Company recognized $12.1 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2023. During the three months ended March 31, 2023, the Company recognized $19.2 million of revenues that were included in Accrued expenses and other current liabilities at December 31, 2022.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Cost of revenues (exclusive of depreciation and amortization) $ 22,357 $ 16,011 Selling, general and administrative expenses 22,434 22,568 Total $ 44,791 $ 38,579 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, 2024 1,629 $ 125.88 Options granted 79 $ 298.85 Options exercised (370) $ 41.25 Options forfeited (2) $ 313.86 Options expired (1) $ 455.47 Options outstanding at March 31, 2024 1,335 $ 159.00 $ 172,730 4.3 Options vested and exercisable as of March 31, 2024 1,080 $ 124.97 $ 171,999 3.2 Options expected to vest as of March 31, 2024 239 $ 303.14 $ 689 8.7 As of March 31, 2024, $29.8 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 2.4 years. Restricted Stock and Restricted Stock Units Service-Based Awards The table below summarizes activity related to the Company’s equity-classified and liability-classified service-based awards for the three months ended March 31, 2024: 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, 2024 1,074 $ 292.45 98 $ 287.36 Awards granted 488 $ 298.16 34 $ 298.89 Awards modified 1 $ 366.27 (1) $ 114.30 Awards vested (259) $ 281.75 (36) $ 270.45 Awards forfeited/cancelled (17) $ 303.84 (1) $ 284.41 Unvested service-based awards outstanding at March 31, 2024 1,287 $ 296.66 94 $ 299.53 As of March 31, 2024, $306.6 million of total remaining unrecognized stock-based compensation cost related to service-based equity-classified restricted stock units (“RSUs”), net of estimated forfeitures, is expected to be recognized over the weighted-average remaining requisite service period of 3.0 years. As of March 31, 2024, $22.2 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 2.9 years. The liability associated with the service-based liability-classified RSUs as of March 31, 2024 and December 31, 2023, was $4.3 million and $8.7 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 restricted stock unit awards (“PSUs”) for the three months ended March 31, 2024: Equity-Classified Equity-Settled Restricted Stock Units Number of Shares Weighted Average Grant Date Unvested performance-based awards outstanding at January 1, 2024 13 $ 441.87 Awards granted 32 $ 336.55 Awards vested (2) $ 593.58 Unvested performance-based awards outstanding at March 31, 2024 43 $ 355.02 As of March 31, 2024, $9.9 million of total remaining unrecognized stock-based compensation cost related to PSUs is expected to be recognized over the weighted-average remaining requisite service period of 1.2 years. During the three months ended March 31, 2024, the Company granted to its named executive officers and certain other members of senior management PSUs that vest after 3 years, contingent on meeting certain financial performance targets, market conditions and continued service. The financial performance targets will be set by the Compensation Committee of the Board of Directors at the beginning of each year. For the portion of the awards subject to market conditions, fair value was determined using a Monte Carlo valuation model. The portion of the awards associated with financial performance in future years where the financial performance targets have not yet been determined are not considered granted for accounting purposes and there were 32 thousand of such awards as of March 31, 2024. 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 ending April 30th and October 31st. 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 three months ended March 31, 2024 and 2023, no purchases of common stock have been made 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 months ended March 31, 2024, the Company recognized $2.7 million of stock-based compensation expense related to the ESPP. For the three months ended March 31, 2023, the Company recognized $3.2 million of stock-based compensation expense related to the ESPP. As of March 31, 2024, total unrecognized stock-based compensation cost related to the ESPP was $0.9 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, including specifying either 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 March 31, 2024, the Company has commitments to grant up to $15.1 million of equity awards with the number of awards to be determined based on future stock prices. Additionally, 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 March 31, 2024 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. Share repurchase activity during the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended March 31, 2024 2023 Number of shares of common stock repurchased 396 30 Total cost of repurchases $ 120,593 $ 8,510 As of March 31, 2024, a remaining balance of $214.5 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	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and 2023 was 6.0% and 19.6%, respectively. The Company’s effective tax rate benefited from excess tax benefits recorded upon vesting or exercise of stock-based awards of $20.9 million and $6.0 million during the three months ended March 31, 2024 and 2023, respectively. Additionally, during the three months ended March 31, 2024, the Company’s effective tax rate benefited from the recognition of one-time benefits of $2.3 million, 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, and $1.7 million resulting from the reversal of a reserve for an uncertain tax position.

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic 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 2024 2023 Numerator for basic and diluted earnings per share: Net income $ 116,243 $ 102,292 Numerator for basic and diluted earnings per share $ 116,243 $ 102,292 Denominator: Weighted average common shares for basic earnings per share 57,837 57,702 Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP 1,094 1,596 Weighted average common shares for diluted earnings per share 58,931 59,298 Net income per share: Basic $ 2.01 $ 1.77 Diluted $ 1.97 $ 1.73 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 363 thousand and 260 thousand during the three months ended March 31, 2024 and 2023, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2024
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 commitment 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, subsequent annual payments due over the next 4 years. This agreement was modified during the year ended December 31, 2023. As of March 31, 2024, the undiscounted deferred consideration amounts owed totaled approximately $49.7 million and are expected to be paid as follows: $16.6 million during the remainder of 2024, $16.6 million in 2025, and $16.5 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	3 Months Ended
	Mar. 31, 2024
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 client relationship generally correlates with the client’s geographic location, there is a high degree of similarity between client locations and the geographic boundaries of the Company’s reportable segments. In some cases, managerial responsibility for a particular client is assigned to a management team in another region and is usually based on the strength of the relationship between client executives and particular members of EPAM’s senior management team. In such cases, the client’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. Revenues from external clients and operating profit/(loss), before unallocated expenses, by reportable segment for the three months ended March 31, 2024 and 2023, were as follows: Three Months Ended 2024 2023 Segment revenues: North America $ 704,729 $ 709,957 Europe 460,736 493,147 Russia — 7,837 Total segment revenues $ 1,165,465 $ 1,210,941 Segment operating profit/(loss): North America $ 120,664 $ 122,831 Europe 60,519 59,904 Russia — (3,005) Total segment operating profit $ 181,183 $ 179,730 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 clients that accounted for more than 10% of total segment revenues during the three months ended March 31, 2024 and 2023. Reconciliation of segment operating profit to consolidated income before provision for income taxes is presented below: Three Months Ended 2024 2023 Total segment operating profit: $ 181,183 $ 179,730 Unallocated amounts: Stock-based compensation expense (44,791) (38,579) Amortization of intangibles assets (5,949) (5,537) Other acquisition-related expenses (1,223) (241) Other unallocated expenses (18,688) (15,002) Income from operations 110,532 120,371 Interest and other income, net 15,042 11,521 Foreign exchange loss (1,919) (4,608) Income before provision for income taxes $ 123,655 $ 127,284 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 $ 60,825 $ 62,653 Belarus 48,473 49,875 United States 40,601 42,510 Poland 13,920 15,057 India 12,006 12,735 Hungary 5,715 6,683 Other 40,704 45,540 Total $ 222,244 $ 235,053 The table below presents information about the Company’s revenues by client location for the three months ended March 31, 2024 and 2023: Three Months Ended 2024 2023 United States $ 667,148 $ 679,437 United Kingdom 135,901 155,327 Switzerland 98,444 89,861 Netherlands 51,670 59,100 Germany 50,462 42,735 Canada 22,620 27,832 Russia — 5,873 Other locations 139,220 150,776 Total $ 1,165,465 $ 1,210,941

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Foreign currency translation Beginning balance $ (43,601) $ (101,780) Foreign currency translation (23,501) 16,300 Income tax benefit/ (expense) 4,789 (3,073) Foreign currency translation, net of tax (18,712) 13,227 Ending balance $ (62,313) $ (88,553) Cash flow hedging instruments Beginning balance $ 7,819 $ 8,306 Unrealized (loss)/ gain in fair value (2,507) 7,895 Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization) (2,411) (2,580) Net loss reclassified into Foreign exchange loss — 33 Income tax benefit/ (expense) 1,136 (1,214) Cash flow hedging instruments, net of tax (3,782) 4,134 Ending balance (1) $ 4,037 $ 12,440 Defined benefit plans Beginning balance $ (3,258) $ (1,847) Actuarial gains 182 — Defined benefit plans, net of tax 182 — Ending balance $ (3,076) $ (1,847) Accumulated other comprehensive loss $ (61,352) $ (77,960) (1)

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 116,243	$ 102,292

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
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 March 31, 2024 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. Trade receivables are generally dispersed across many clients 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 the Company’s clients 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. 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
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 statements. 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. Unless otherwise discussed below, the Company believes the impact of recently issued standards that are not yet effective will not have a material impact on its consolidated financial statements upon adoption. During the three months ended March 31, 2024, there have been no material updates regarding pending accounting standards as reported in our Annual Report on Form 10-K for the year ended December 31, 2023.
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 for the 2024 Acquisitions ranged from a minimum of 12% to a maximum of 20%. The discount rate used to determine the fair value of contingent consideration for the 2023 Acquisitions was 16.0%. 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 Values

GOODWILL (Tables)

GOODWILL (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2024 $ 241,860 $ 320,599 $ 562,459 2024 Acquisitions 24,466 12,847 37,313 2023 Acquisitions purchase accounting adjustments 805 — 805 Effect of net foreign currency exchange rate changes (181) (5,176) (5,357) Balance as of March 31, 2024 $ 266,950 $ 328,270 $ 595,220

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023: As of March 31, 2024 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 5,949 $ — $ 5,949 $ — Total assets measured at fair value on a recurring basis $ 5,949 $ — $ 5,949 $ — Foreign exchange derivative liabilities $ 699 $ — $ 699 $ — Contingent consideration liabilities 28,882 — — 28,882 Total liabilities measured at fair value on a recurring basis $ 29,581 $ — $ 699 $ 28,882 As of December 31, 2023 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 10,416 $ — $ 10,416 $ — Total assets measured at fair value on a recurring basis $ 10,416 $ — $ 10,416 $ — Foreign exchange derivative liabilities $ 248 $ — $ 248 $ — Contingent consideration liabilities 23,150 — — 23,150 Total liabilities measured at fair value on a recurring basis $ 23,398 $ — $ 248 $ 23,150
Schedule of Acquisition-Related Contingent Consideration Roll Forward	A reconciliation of the beginning and ending balances of Level 3 contingent consideration liabilities using significant unobservable inputs for the three months ended March 31, 2024 is as follows: Amount Contingent consideration liabilities as of January 1, 2024 $ 23,150 Acquisition date fair value of contingent consideration — 2024 Acquisitions 7,256 Changes in fair value of contingent consideration included in Interest and other income, net 1,050 Payment of contingent consideration for previously acquired businesses (2,500) Effect of foreign currency exchange rate changes, net (74) Contingent consideration liabilities as of March 31, 2024 $ 28,882
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 March 31, 2024 Financial Assets: Cash equivalents: Money market funds $ 127,993 $ 127,993 $ 127,993 $ — $ — Time deposits 197,701 197,701 — 197,701 — Total cash equivalents $ 325,694 $ 325,694 $ 127,993 $ 197,701 $ — Time deposits included in Short-term investments $ 61,625 $ 61,625 $ — $ 61,625 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 45,820 $ 45,820 $ — $ 45,820 $ — Fair Value Hierarchy Balance Estimated Fair Value Level 1 Level 2 Level 3 December 31, 2023 Financial Assets: Cash equivalents: Money market funds $ 168,120 $ 168,120 $ 168,120 $ — $ — Time deposits 105,210 105,210 — 105,210 — Total cash equivalents $ 273,330 $ 273,330 $ 168,120 $ 105,210 $ — Time deposits included in Short-term investments $ 60,739 $ 60,739 $ — $ 60,739 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 46,954 $ 46,954 $ — $ 46,954 $ —

DERIVATIVE FINANCIAL INSTRUME_2

DERIVATIVE FINANCIAL INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2024
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 March 31, 2024 and December 31, 2023 were as follows: As of March 31, 2024 As of December 31, 2023 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts - Prepaid expenses and other current assets $ 5,949 $ 10,416 Accrued expenses and other current liabilities $ 699 $ 248

LEASES (Tables)

LEASES (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Schedule of Components of Lease Cost	During the three months ended March 31, 2024 and 2023, the components of lease cost were as follows: Three Months Ended Income Statement Classification 2024 2023 Operating lease cost Selling, general and administrative expenses $ 10,853 $ 11,183 Variable lease cost Selling, general and administrative expenses 2,629 3,648 Short-term lease cost Selling, general and administrative expenses 959 2,656 Total lease cost $ 14,441 $ 17,487
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to leases for the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 11,703 $ 11,719 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 7,653 $ 3,349 Non-cash net increase due to lease modifications: Operating lease right-of-use assets $ 5,299 $ 1,383 Operating lease liabilities $ 5,190 $ 1,114
Schedule of Weighted Average Lease Terms and Discount Rates	Weighted average remaining lease term and discount rate as of March 31, 2024 and 2023 were as follows: As of March 31, 2024 As of March 31, 2023 Weighted average remaining lease term, in years: Operating leases 4.9 5.3 Weighted average discount rate: Operating leases 4.3 % 3.3 %
Schedule of Maturity of Operating Lease Liabilities	As of March 31, 2024, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2024 (excluding three months ended March 31, 2024) $ 31,706 2025 36,502 2026 31,054 2027 22,461 2028 18,596 Thereafter 20,637 Total lease payments 160,956 Less: imputed interest (14,383) Total $ 146,573

DEBT (Tables)

DEBT (Tables)	3 Months Ended
	Mar. 31, 2024
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 % 6.3 % Available borrowing capacity $ 675,000 $ 675,000 Maximum borrowing capacity $ 700,000 $ 700,000

COST OPTIMIZATION PROGRAM (Tabl

COST OPTIMIZATION PROGRAM (Tables)	3 Months Ended
	Mar. 31, 2024
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, 2023 Charges Payments Made Balance at March 31, 2024 2023 Cost Optimization Program Employee separation costs $ 6,966 $ 7,017 $ (11,326) $ 2,657 Total $ 6,966 $ 7,017 $ (11,326) $ 2,657

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenues	The following tables present the disaggregation of the Company’s revenues by client location, including a reconciliation of the disaggregated revenues with the reportable segments (Note 15 “Segment Information”) for the periods indicated: Three Months Ended March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Client Locations Americas $ 668,182 $ 24,738 $ 692,920 EMEA 35,824 413,423 449,247 APAC 723 22,575 23,298 CEE (1) — — — Revenues $ 704,729 $ 460,736 $ 1,165,465 (1) As a result of the sale of the Company’s remaining holdings in Russia to a third-party on July 26, 2023, revenues from the CEE region are no longer material. Starting in 2024, revenues from the CEE region are included in the EMEA region. Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Client Locations Americas $ 683,553 $ 25,954 $ 295 $ 709,802 EMEA 25,372 438,565 — 463,937 APAC 726 26,084 — 26,810 CEE 306 2,544 7,542 10,392 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 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 March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 117,691 $ 141,439 $ 259,130 Financial Services 124,292 118,444 242,736 Software & Hi-Tech 133,194 40,238 173,432 Business Information & Media 106,692 63,626 170,318 Life Sciences & Healthcare 121,717 18,492 140,209 Emerging Verticals 101,143 78,497 179,640 Revenues $ 704,729 $ 460,736 $ 1,165,465 Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 123,659 $ 153,055 $ 1,646 $ 278,360 Financial Services 143,850 123,608 3,207 270,665 Software & Hi-Tech 149,798 38,682 711 189,191 Business Information & Media 116,158 86,108 114 202,380 Life Sciences & Healthcare 96,597 14,526 135 111,258 Emerging Verticals 79,895 77,168 2,024 159,087 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 (1) The Company renamed the Travel & Consumer vertical to Consumer Goods, Retail & Travel to better reflect the mix of clients included in this vertical. This constitutes a naming change only and no changes were made to amounts reported. 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 March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Contract Types Time-and-material $ 605,696 $ 375,830 $ 981,526 Fixed-price 92,035 84,289 176,324 Licensing and other revenues 6,998 617 7,615 Revenues $ 704,729 $ 460,736 $ 1,165,465 Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 644,628 $ 425,598 $ 4,753 $ 1,074,979 Fixed-price 61,231 66,203 3,071 130,505 Licensing and other revenues 4,098 1,346 13 5,457 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941 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 March 31, 2024 Reportable Segments North America Europe Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 700,384 $ 460,655 $ 1,161,039 Transferred at a point of time 4,345 81 4,426 Revenues $ 704,729 $ 460,736 $ 1,165,465 Three Months Ended March 31, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 707,034 $ 492,397 $ 7,824 $ 1,207,255 Transferred at a point of time 2,923 750 13 3,686 Revenues $ 709,957 $ 493,147 $ 7,837 $ 1,210,941
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 March 31, 2024. 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 $ 18,228 $ 777 $ — $ — $ 19,005
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 $ 31,117 $ 24,309 Contract liabilities included in Accrued expenses and other current liabilities $ 34,390 $ 27,988 Contract liabilities included in Other noncurrent liabilities $ 496 $ 951

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Cost of revenues (exclusive of depreciation and amortization) $ 22,357 $ 16,011 Selling, general and administrative expenses 22,434 22,568 Total $ 44,791 $ 38,579
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, 2024 1,629 $ 125.88 Options granted 79 $ 298.85 Options exercised (370) $ 41.25 Options forfeited (2) $ 313.86 Options expired (1) $ 455.47 Options outstanding at March 31, 2024 1,335 $ 159.00 $ 172,730 4.3 Options vested and exercisable as of March 31, 2024 1,080 $ 124.97 $ 171,999 3.2 Options expected to vest as of March 31, 2024 239 $ 303.14 $ 689 8.7
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 three months ended March 31, 2024: 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, 2024 1,074 $ 292.45 98 $ 287.36 Awards granted 488 $ 298.16 34 $ 298.89 Awards modified 1 $ 366.27 (1) $ 114.30 Awards vested (259) $ 281.75 (36) $ 270.45 Awards forfeited/cancelled (17) $ 303.84 (1) $ 284.41 Unvested service-based awards outstanding at March 31, 2024 1,287 $ 296.66 94 $ 299.53
Schedule of Performance-Based Awards Activity	The table below summarizes activity related to the Company’s equity-classified performance-based restricted stock unit awards (“PSUs”) for the three months ended March 31, 2024: Equity-Classified Equity-Settled Restricted Stock Units Number of Shares Weighted Average Grant Date Unvested performance-based awards outstanding at January 1, 2024 13 $ 441.87 Awards granted 32 $ 336.55 Awards vested (2) $ 593.58 Unvested performance-based awards outstanding at March 31, 2024 43 $ 355.02
Schedule of Class of Treasury Stock	Share repurchase activity during the three months ended March 31, 2024 and 2023 was as follows: Three Months Ended March 31, 2024 2023 Number of shares of common stock repurchased 396 30 Total cost of repurchases $ 120,593 $ 8,510

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Numerator for basic and diluted earnings per share: Net income $ 116,243 $ 102,292 Numerator for basic and diluted earnings per share $ 116,243 $ 102,292 Denominator: Weighted average common shares for basic earnings per share 57,837 57,702 Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP 1,094 1,596 Weighted average common shares for diluted earnings per share 58,931 59,298 Net income per share: Basic $ 2.01 $ 1.77 Diluted $ 1.97 $ 1.73

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Revenues from External Customers and Operating Profit/(Loss), Before Unallocated Expenses	Revenues from external clients and operating profit/(loss), before unallocated expenses, by reportable segment for the three months ended March 31, 2024 and 2023, were as follows: Three Months Ended 2024 2023 Segment revenues: North America $ 704,729 $ 709,957 Europe 460,736 493,147 Russia — 7,837 Total segment revenues $ 1,165,465 $ 1,210,941 Segment operating profit/(loss): North America $ 120,664 $ 122,831 Europe 60,519 59,904 Russia — (3,005) Total segment operating profit $ 181,183 $ 179,730
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 2024 2023 Total segment operating profit: $ 181,183 $ 179,730 Unallocated amounts: Stock-based compensation expense (44,791) (38,579) Amortization of intangibles assets (5,949) (5,537) Other acquisition-related expenses (1,223) (241) Other unallocated expenses (18,688) (15,002) Income from operations 110,532 120,371 Interest and other income, net 15,042 11,521 Foreign exchange loss (1,919) (4,608) Income before provision for income taxes $ 123,655 $ 127,284
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 $ 60,825 $ 62,653 Belarus 48,473 49,875 United States 40,601 42,510 Poland 13,920 15,057 India 12,006 12,735 Hungary 5,715 6,683 Other 40,704 45,540 Total $ 222,244 $ 235,053
Schedule of Revenues by Customer Location	The table below presents information about the Company’s revenues by client location for the three months ended March 31, 2024 and 2023: Three Months Ended 2024 2023 United States $ 667,148 $ 679,437 United Kingdom 135,901 155,327 Switzerland 98,444 89,861 Netherlands 51,670 59,100 Germany 50,462 42,735 Canada 22,620 27,832 Russia — 5,873 Other locations 139,220 150,776 Total $ 1,165,465 $ 1,210,941

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	3 Months Ended
	Mar. 31, 2024
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 2024 2023 Foreign currency translation Beginning balance $ (43,601) $ (101,780) Foreign currency translation (23,501) 16,300 Income tax benefit/ (expense) 4,789 (3,073) Foreign currency translation, net of tax (18,712) 13,227 Ending balance $ (62,313) $ (88,553) Cash flow hedging instruments Beginning balance $ 7,819 $ 8,306 Unrealized (loss)/ gain in fair value (2,507) 7,895 Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization) (2,411) (2,580) Net loss reclassified into Foreign exchange loss — 33 Income tax benefit/ (expense) 1,136 (1,214) Cash flow hedging instruments, net of tax (3,782) 4,134 Ending balance (1) $ 4,037 $ 12,440 Defined benefit plans Beginning balance $ (3,258) $ (1,847) Actuarial gains 182 — Defined benefit plans, net of tax 182 — Ending balance $ (3,076) $ (1,847) Accumulated other comprehensive loss $ (61,352) $ (77,960) (1)

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Risks and Uncertainties) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Concentration Risk [Line Items]
Cash and cash equivalents	$ 1,983,721	$ 2,036,235
Ukraine
Concentration Risk [Line Items]
Cash and cash equivalents	57,000
Belarus
Concentration Risk [Line Items]
Cash and cash equivalents	$ 31,000

IMPACT OF THE INVASION OF UKR_2

IMPACT OF THE INVASION OF UKRAINE (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Mar. 04, 2022
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	$ 222,244,000		$ 235,053,000
Operating lease, right-of-use asset	135,754,000		134,898,000
Commitments related to operating lease agreements that have not yet commenced	4,700,000
Cost of revenues (exclusive of depreciation and amortization)	834,334,000	$ 855,901,000
Selling, general and administrative expenses	198,453,000	211,887,000
Humanitarian Commitment
Unusual or Infrequent Item, or Both [Line Items]
Commitments related to operating lease agreements that have not yet commenced	34,500,000
Nonoperating expense	3,300,000	6,100,000
Cost of revenues (exclusive of depreciation and amortization)	700,000	2,500,000
Selling, general and administrative expenses	2,600,000	3,600,000
Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	60,825,000		$ 62,653,000
Operating lease, right-of-use asset	5,500,000
Ukraine | Cost of revenues (exclusive of depreciation and amortization)
Unusual or Infrequent Item, or Both [Line Items]
Standby resources expense		7,400,000
Ukraine | Selling, general and administrative expenses
Unusual or Infrequent Item, or Both [Line Items]
Standby resources expense	700,000	$ 200,000
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
Ukraine | Building
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	60,800,000
Ukraine | Construction in Progress
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	51,700,000
Ukraine | Computer Equipment
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	4,500,000
Ukraine | Furniture and Fixtures
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	3,800,000
Ukraine | Leasehold Improvements
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	$ 800,000

ACQUISITIONS (Narrative) (Detai

ACQUISITIONS (Narrative) (Details) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2024 USD ($) business	Dec. 31, 2023 USD ($) business
2023 Acquisitions
Business Acquisition [Line Items]
Number of acquisitions | business		2
Purchase price including contingent consideration		$ 42.6
Contingent consideration fair value		14.9
2023 Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, amount		$ 13.9
2024 Acquisitions
Business Acquisition [Line Items]
Number of acquisitions | business	2
Purchase price including contingent consideration	$ 53.7
Contingent consideration fair value	7.3
2024 Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, amount	$ 16.6

GOODWILL (Goodwill Roll Forward

GOODWILL (Goodwill Roll Forward) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Total
Beginning balance	$ 562,459
2024 Acquisitions	37,313
2023 Acquisitions purchase accounting adjustments	805
Effect of net foreign currency exchange rate changes	(5,357)
Ending balance	595,220
North America
Total
Beginning balance	241,860
2024 Acquisitions	24,466
2023 Acquisitions purchase accounting adjustments	805
Effect of net foreign currency exchange rate changes	(181)
Ending balance	266,950
Europe
Total
Beginning balance	320,599
2024 Acquisitions	12,847
2023 Acquisitions purchase accounting adjustments	0
Effect of net foreign currency exchange rate changes	(5,176)
Ending balance	$ 328,270

GOODWILL (Goodwill Accumulated

GOODWILL (Goodwill Accumulated Impairment Losses) (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
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	Mar. 31, 2024	Dec. 31, 2023
Financial Assets:
Total assets measured at fair value on a recurring basis	$ 5,949	$ 10,416
Financial Liabilities:
Contingent consideration liabilities	28,882	23,150
Total liabilities measured at fair value on a recurring basis	29,581	23,398
Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	5,949	10,416
Financial Liabilities:
Foreign exchange derivative liabilities	699	248
Level 1
Financial Assets:
Total assets measured at fair value on a recurring basis	0	0
Financial Liabilities:
Contingent consideration liabilities	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:
Total assets measured at fair value on a recurring basis	5,949	10,416
Financial Liabilities:
Contingent consideration liabilities	0	0
Total liabilities measured at fair value on a recurring basis	699	248
Level 2 | Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	5,949	10,416
Financial Liabilities:
Foreign exchange derivative liabilities	699	248
Level 3
Financial Assets:
Total assets measured at fair value on a recurring basis	0	0
Financial Liabilities:
Contingent consideration liabilities	28,882	23,150
Total liabilities measured at fair value on a recurring basis	28,882	23,150
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) - Discount Rate	Mar. 31, 2024	Dec. 31, 2023
Minimum | 2024 Acquisitions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input to determine fair value of contingent consideration	0.12
Maximum | 2024 Acquisitions
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input to determine fair value of contingent consideration	0.20
Maximum | Software Licenses
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Measurement input to determine fair value of contingent consideration	0.160	0.160

FAIR VALUE MEASUREMENTS (Acquis

FAIR VALUE MEASUREMENTS (Acquisition-Related Contingent Consideration Roll Forward) (Details) - Level 3 $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Amount
Beginning balance	$ 23,150
Ending balance	28,882
Changes in fair value of contingent consideration included in Interest and other income, net
Amount
Acquisition date fair value of contingent consideration — 2024 Acquisitions	7,256
Changes in fair value of contingent consideration included in Interest and other income, net	1,050
Payment of contingent consideration for previously acquired businesses	(2,500)
Effect of foreign currency exchange rate changes, net	$ (74)

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	3 Months Ended	12 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Balance
Financial Assets:
Cash equivalents:	$ 325,694	$ 273,330
Financial Liabilities:
Deferred consideration for asset acquisition	45,820	46,954
Balance | Time deposits
Financial Assets:
Time deposits included in Short-term investments	61,625	60,739
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:	127,993	168,120
Balance | Time deposits
Financial Assets:
Cash equivalents:	197,701	105,210
Estimated Fair Value
Financial Assets:
Cash equivalents:	325,694	273,330
Financial Liabilities:
Deferred consideration for asset acquisition	45,820	46,954
Estimated Fair Value | Time deposits
Financial Assets:
Time deposits included in Short-term investments	61,625	60,739
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:	127,993	168,120
Estimated Fair Value | Time deposits
Financial Assets:
Cash equivalents:	197,701	105,210
Estimated Fair Value | Level 1
Financial Assets:
Cash equivalents:	127,993	168,120
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:	127,993	168,120
Estimated Fair Value | Level 1 | Time deposits
Financial Assets:
Cash equivalents:	0	0
Estimated Fair Value | Level 2
Financial Assets:
Cash equivalents:	197,701	105,210
Financial Liabilities:
Deferred consideration for asset acquisition	45,820	46,954
Estimated Fair Value | Level 2 | Time deposits
Financial Assets:
Time deposits included in Short-term investments	61,625	60,739
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:	197,701	105,210
Estimated Fair Value | Level 3
Financial Assets:
Cash equivalents:	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	$ 0

FAIR VALUE MEASUREMENTS (Non Ma

FAIR VALUE MEASUREMENTS (Non Marketable Securities Without Readily Determinable Fair Value) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
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	$ 31.9	$ 31.7

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Details) - Foreign Exchange Derivative Contracts - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Financial collateral required to be posted	$ 0
Cash flow Hedging | Designated as Hedging Instruments | Prepaid expenses and other current assets
Derivatives, Fair Value [Line Items]
Asset Derivatives	5,949,000	$ 10,416,000
Cash flow Hedging | Designated as Hedging Instruments | Accrued expenses and other current liabilities
Derivatives, Fair Value [Line Items]
Liability Derivatives	$ 699,000	$ 248,000

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Commitments related to operating lease agreements that have not yet commenced	$ 4.7
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month 6 days
Lease term of lease agreements that have not yet commenced	9 months 18 days
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	7 years 9 months 18 days
Lease term of lease agreements that have not yet commenced	5 years

LEASES (Components of Lease Cos

LEASES (Components of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessee, Lease, Description [Line Items]
Total lease cost	$ 14,441	$ 17,487
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	10,853	11,183
Variable lease cost	2,629	3,648
Short-term lease cost	$ 959	$ 2,656

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 11,703	$ 11,719
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	7,653	3,349
Non-cash net increase due to lease modifications:
Operating lease right-of-use assets	5,299	1,383
Operating lease liabilities	$ 5,190	$ 1,114

LEASES (Weighted Average Lease

LEASES (Weighted Average Lease Terms and Discount Rates) (Details)	Mar. 31, 2024	Mar. 31, 2023
Weighted average remaining lease term, in years:
Operating leases	4 years 10 months 24 days	5 years 3 months 18 days
Weighted average discount rate:
Operating leases	4.30%	3.30%

LEASES (Maturity of Operating L

LEASES (Maturity of Operating Lease Liabilities) (Details) $ in Thousands	Mar. 31, 2024 USD ($)
Leases [Abstract]
2024 (excluding three months ended March 31, 2024)	$ 31,706
2025	36,502
2026	31,054
2027	22,461
2028	18,596
Thereafter	20,637
Total lease payments	160,956
Less: imputed interest	(14,383)
Total	$ 146,573

DEBT (Details)

DEBT (Details) - Revolving Credit Facility - Line of Credit	Oct. 21, 2021 USD ($)	Mar. 31, 2024 USD ($)	Dec. 31, 2023 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	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Oct. 21, 2021 USD ($)	Oct. 21, 2021 GBP (£)
Debt Instrument [Line Items]
Outstanding debt	$ 25,000,000	$ 25,000,000
Interest rate	6.30%	6.30%
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 Millions	Dec. 31, 2023 USD ($)
Restructuring and Related Activities [Abstract]
Expected cost remaining	$ 3

COST OPTIMIZATION PROGRAM (Acti

COST OPTIMIZATION PROGRAM (Activity in Restructuring Reserves) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023	$ 6,966
Charges	7,017
Payments Made	(11,326)
Balance at March 31, 2024	$ 2,657

REVENUES (Schedule of Disaggreg

REVENUES (Schedule of Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 1,165,465	$ 1,210,941
Revenues from performance obligations satisfied in previous period	13,100	7,200
Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	1,161,039	1,207,255
Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	4,426	3,686
Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	981,526	1,074,979
Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	176,324	130,505
Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	7,615	5,457
Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues	259,130	278,360
Financial Services
Disaggregation of Revenue [Line Items]
Revenues	242,736	270,665
Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	173,432	189,191
Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	170,318	202,380
Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	140,209	111,258
Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	179,640	159,087
Americas
Disaggregation of Revenue [Line Items]
Revenues	692,920	709,802
EMEA
Disaggregation of Revenue [Line Items]
Revenues	449,247	463,937
APAC
Disaggregation of Revenue [Line Items]
Revenues	23,298	26,810
CEE
Disaggregation of Revenue [Line Items]
Revenues	0	10,392
North America
Disaggregation of Revenue [Line Items]
Revenues	704,729	709,957
North America | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	700,384	707,034
North America | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	4,345	2,923
North America | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	605,696	644,628
North America | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	92,035	61,231
North America | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	6,998	4,098
North America | Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues	117,691	123,659
North America | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	124,292	143,850
North America | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	133,194	149,798
North America | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	106,692	116,158
North America | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	121,717	96,597
North America | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	101,143	79,895
North America | Americas
Disaggregation of Revenue [Line Items]
Revenues	668,182	683,553
North America | EMEA
Disaggregation of Revenue [Line Items]
Revenues	35,824	25,372
North America | APAC
Disaggregation of Revenue [Line Items]
Revenues	723	726
North America | CEE
Disaggregation of Revenue [Line Items]
Revenues	0	306
Europe
Disaggregation of Revenue [Line Items]
Revenues	460,736	493,147
Europe | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	460,655	492,397
Europe | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	81	750
Europe | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	375,830	425,598
Europe | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	84,289	66,203
Europe | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	617	1,346
Europe | Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues	141,439	153,055
Europe | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	118,444	123,608
Europe | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	40,238	38,682
Europe | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	63,626	86,108
Europe | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	18,492	14,526
Europe | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	78,497	77,168
Europe | Americas
Disaggregation of Revenue [Line Items]
Revenues	24,738	25,954
Europe | EMEA
Disaggregation of Revenue [Line Items]
Revenues	413,423	438,565
Europe | APAC
Disaggregation of Revenue [Line Items]
Revenues	22,575	26,084
Europe | CEE
Disaggregation of Revenue [Line Items]
Revenues	0	2,544
Russia
Disaggregation of Revenue [Line Items]
Revenues	$ 0	7,837
Russia | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues		7,824
Russia | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues		13
Russia | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues		4,753
Russia | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues		3,071
Russia | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues		13
Russia | Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues		1,646
Russia | Financial Services
Disaggregation of Revenue [Line Items]
Revenues		3,207
Russia | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues		711
Russia | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues		114
Russia | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues		135
Russia | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues		2,024
Russia | Americas
Disaggregation of Revenue [Line Items]
Revenues		295
Russia | EMEA
Disaggregation of Revenue [Line Items]
Revenues		0
Russia | APAC
Disaggregation of Revenue [Line Items]
Revenues		0
Russia | CEE
Disaggregation of Revenue [Line Items]
Revenues		$ 7,542

REVENUES (Schedule of Timing of

REVENUES (Schedule of Timing of Revenue Recognition) (Details) - Fixed-price $ in Thousands	Mar. 31, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 19,005
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 18,228
Revenue, remaining performance obligation, expected timing of satisfaction, period	9 months
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	$ 777
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
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01
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 (Schedule of Contract

REVENUES (Schedule of Contract Assets and Liabilities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 12,100	$ 19,200
Trade receivables and contract assets, net
Change in Contract with Customer, Liability [Abstract]
Contract assets	31,117		$ 24,309
Accrued expenses and other current liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	34,390		27,988
Other noncurrent liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	$ 496		$ 951

STOCKHOLDERS_ EQUITY (Schedule

STOCKHOLDERS’ EQUITY (Schedule of Components of Stock-Based Compensation Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 44,791	$ 38,579
Cost of revenues (exclusive of depreciation and amortization)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	22,357	16,011
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 22,434	$ 22,568

STOCKHOLDERS_ EQUITY (Schedul_2

STOCKHOLDERS’ EQUITY (Schedule of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / shares shares
Number of Options
Beginning balance (in shares) | shares	1,629
Options granted (in shares) | shares	79
Options exercised (in shares) | shares	(370)
Options forfeited (in shares) | shares	(2)
Options expired (in shares) | shares	(1)
Ending balance (in shares) | shares	1,335
Options vested and exercisable number of options (in shares) | shares	1,080
Options expected to vest number of options (in shares) | shares	239
Weighted Average Exercise Price
Options outstanding at beginning of period (in usd per share) | $ / shares	$ 125.88
Options granted (in usd per share) | $ / shares	298.85
Options exercised (in usd per share) | $ / shares	41.25
Options forfeited (in usd per share) | $ / shares	313.86
Options expired (in usd per share) | $ / shares	455.47
Options outstanding at end of period (in usd per share) | $ / shares	159
Options vested and exercisable weighted average price (in dollars per share) | $ / shares	124.97
Options expected to vest weighted average price (in dollars per share) | $ / shares	$ 303.14
Aggregate Intrinsic Value
Options outstanding, beginning of period | $	$ 172,730
Options vested and exercisable, aggregate intrinsic value | $	171,999
Options expected to vest, aggregate intrinsic value | $	$ 689
Weighted Average Remaining Contractual Term (in years)
Options outstanding, weighted average remaining contractual term	4 years 3 months 18 days
Options vested and exercisable, weighted average remaining contractual term	3 years 2 months 12 days
Expected to vest, weighted average remaining contractual term	8 years 8 months 12 days

STOCKHOLDERS_ EQUITY (Stock Opt

STOCKHOLDERS’ EQUITY (Stock Option Additional Information) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 29.8
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining requisite service period	2 years 4 months 24 days
Restricted Stock Units | Performance Based Awards | Equity Classified Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining requisite service period	1 year 2 months 12 days

STOCKHOLDERS_ EQUITY (Schedul_3

STOCKHOLDERS’ EQUITY (Schedule of Fair Value of Restricted Stock and Restricted Stock Units Vested) (Details) - Restricted Stock Units shares in Thousands	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Service Based Awards | Equity Classified Award | Equity-Settled Award
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	1,074
Awards granted (in shares) | shares	488
Awards modified (in shares) | shares	1
Awards vested (in shares) | shares	(259)
Awards forfeited/cancelled (in shares) | shares	(17)
Unvested awards outstanding at period end (in shares) | shares	1,287
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 292.45
Awards granted (in usd per share) | $ / shares	298.16
Awards modified (in usd per share) | $ / shares	366.27
Awards vested (in usd per share) | $ / shares	281.75
Awards forfeited/cancelled (in usd per share) | $ / shares	303.84
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 296.66
Service Based Awards | Liability Classified Award | Cash-Settled Award
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	98
Awards granted (in shares) | shares	34
Awards modified (in shares) | shares	(1)
Awards vested (in shares) | shares	(36)
Awards forfeited/cancelled (in shares) | shares	(1)
Unvested awards outstanding at period end (in shares) | shares	94
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 287.36
Awards granted (in usd per share) | $ / shares	298.89
Awards modified (in usd per share) | $ / shares	114.30
Awards vested (in usd per share) | $ / shares	270.45
Awards forfeited/cancelled (in usd per share) | $ / shares	284.41
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 299.53
Performance Based Awards | Equity Classified Award | Equity-Settled Award
Number of Shares
Unvested awards outstanding at period start (in shares) | shares	13
Awards granted (in shares) | shares	32
Awards vested (in shares) | shares	(2)
Unvested awards outstanding at period end (in shares) | shares	43
Weighted Average Grant Date Fair Value Per Share
Unvested awards outstanding at period start (in usd per share) | $ / shares	$ 441.87
Awards granted (in usd per share) | $ / shares	336.55
Awards vested (in usd per share) | $ / shares	593.58
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 355.02

STOCKHOLDERS_ EQUITY (Restricte

STOCKHOLDERS’ EQUITY (Restricted Stock and Restricted Stock Units Additional Information) (Details) - USD ($) shares in Thousands		3 Months Ended
	Feb. 13, 2023	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase program, amount	$ 500,000,000
Share repurchase program term	24 months
Emakina Group SA
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity granted		$ 15,100,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		$ 900,000
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%
Stock based compensation expense		$ 2,700,000	$ 3,200,000
Service Based Awards | Equity Classified Award | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		$ 306,600,000
Weighted-average remaining requisite service period		3 years
Service Based Awards | Equity Classified Award | Restricted Stock Units | Equity-Settled Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)		488
Service Based Awards | Liability Classified Award | Restricted Stock Units | Cash-Settled Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		$ 22,200,000
Weighted-average remaining requisite service period		2 years 10 months 24 days
Awards granted (in shares)		34
Service Based Awards | Liability Classified Award | 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		$ 4,300,000		$ 8,700,000
Performance Based Awards | Equity Classified Award | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost		$ 9,900,000
Weighted-average remaining requisite service period		1 year 2 months 12 days
Performance Based Awards | Equity Classified Award | Restricted Stock Units | Equity-Settled Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)		32
Awards vesting period		3 years

STOCKHOLDERS_ EQUITY (Schedul_4

STOCKHOLDERS’ EQUITY (Schedule of Class of Treasury Stock) (Details) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Shares acquired during period (in shares)	396	30
Value of shares acquired	$ 120,593	$ 8,510
Stock repurchases, remaining balance	$ 214,500

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	6%	19.60%
Excess tax benefit	$ 20.9	$ 6
One-time tax benefit	2.3
Tax effect of disposal of business	$ 1.7

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Numerator for basic and diluted earnings per share:
Net income	$ 116,243	$ 102,292
Numerator for basic earnings per share	116,243	102,292
Numerator for diluted earnings per share	$ 116,243	$ 102,292
Denominator:
Weighted average common shares for basic earnings per share (in shares)	57,837	57,702
Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP (in shares)	1,094	1,596
Weighted average common shares for diluted earnings per share (in shares)	58,931	59,298
Net income per share:
Basic (in usd per share)	$ 2.01	$ 1.77
Diluted (in usd per share)	$ 1.97	$ 1.73
Anti-dilutive options not included in the calculation (in shares)	363	260

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Building Acquisition Commitments) (Details) - USD ($)		3 Months Ended
	Mar. 31, 2023	Mar. 31, 2024	Mar. 04, 2022
Other Commitments [Line Items]
Commitment		$ 4,700,000
Term		4 years
Deferred consideration		$ 49,700,000
Deferred consideration in 2024		16,600,000
Deferred consideration in 2025		16,600,000
Deferred consideration in 2026		16,500,000
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		$ 34,500,000
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
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting Information [Line Items]
Revenues	$ 1,165,465	$ 1,210,941
Total segment operating profit	110,532	120,371
Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	181,183	179,730
North America
Segment Reporting Information [Line Items]
Revenues	704,729	709,957
North America | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	120,664	122,831
Europe
Segment Reporting Information [Line Items]
Revenues	460,736	493,147
Europe | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	60,519	59,904
Russia
Segment Reporting Information [Line Items]
Revenues	0	7,837
Russia | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	$ 0	$ (3,005)

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation of Segment Operating Profit to Consolidated Income Before Provision for Income Taxes) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating profit:	$ 110,532	$ 120,371
Stock-based compensation expense	(44,791)	(38,579)
Interest and other income, net	15,042	11,521
Foreign exchange loss	(1,919)	(4,608)
Income before provision for income taxes	123,655	127,284
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating profit:	181,183	179,730
Unallocated Amounts
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Stock-based compensation expense	(44,791)	(38,579)
Amortization of intangibles assets	(5,949)	(5,537)
Other acquisition-related expenses	(1,223)	(241)
Other unallocated expenses	$ (18,688)	$ (15,002)

SEGMENT INFORMATION (Physical L

SEGMENT INFORMATION (Physical Location and Values of Long-Lived Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 222,244	$ 235,053
Ukraine
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	60,825	62,653
Belarus
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	48,473	49,875
United States
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	40,601	42,510
Poland
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	13,920	15,057
India
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	12,006	12,735
Hungary
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	5,715	6,683
Other
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 40,704	$ 45,540

SEGMENT INFORMATION (Revenues b

SEGMENT INFORMATION (Revenues by Customer Location) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 1,165,465	$ 1,210,941
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	667,148	679,437
United Kingdom
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	135,901	155,327
Switzerland
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	98,444	89,861
Netherlands
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	51,670	59,100
Germany
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	50,462	42,735
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	22,620	27,832
Russia
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	0	5,873
Other locations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 139,220	$ 150,776

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 3,471,470	$ 3,003,010
Other comprehensive (loss)/income	(22,312)	17,361
Balance, end of period	3,475,685	3,130,442
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(39,040)	(95,321)
Balance, end of period	(61,352)	(77,960)
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(43,601)	(101,780)
Unrealized (loss)/ gain in fair value	(23,501)	16,300
Income tax benefit/ (expense)	4,789	(3,073)
Other comprehensive (loss)/income	(18,712)	13,227
Balance, end of period	(62,313)	(88,553)
Cash flow hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	7,819	8,306
Unrealized (loss)/ gain in fair value	(2,507)	7,895
Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization)	(2,411)	(2,580)
Net loss reclassified into Foreign exchange loss	0	33
Income tax benefit/ (expense)	1,136	(1,214)
Other comprehensive (loss)/income	(3,782)	4,134
Balance, end of period	4,037	12,440
Defined benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(3,258)	(1,847)
Other comprehensive (loss)/income	182	0
Actuarial gains	182	0
Balance, end of period	$ (3,076)	$ (1,847)