EPAM Systems (EPAM) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 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		56,935,370
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)	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 1,787,182	$ 2,036,235
Trade receivables and contract assets, net of allowance of $6,557 and $11,864, respectively	960,866	897,032
Short-term investments	61,492	60,739
Prepaid and other current assets	106,103	97,355
Total current assets	2,915,643	3,091,361
Property and equipment, net	210,378	235,053
Operating lease right-of-use assets, net	129,953	134,898
Intangible assets, net	78,241	71,118
Goodwill	608,072	562,459
Deferred tax assets	213,074	197,901
Other noncurrent assets	67,968	59,575
Total assets	4,223,329	4,352,365
Current liabilities
Accounts payable	30,954	31,992
Accrued compensation and benefits expenses	367,670	412,747
Accrued expenses and other current liabilities	129,539	124,823
Income taxes payable, current	37,466	38,812
Operating lease liabilities, current	36,829	36,558
Total current liabilities	602,458	644,932
Long-term debt	25,501	26,126
Operating lease liabilities, noncurrent	103,654	109,261
Other noncurrent liabilities	93,757	100,576
Total liabilities	825,370	880,895
Commitments and contingencies (Note 14)
Stockholders’ equity
Common stock, $0.001 par value; 160,000 shares authorized; 56,932 shares issued and outstanding at June 30, 2024, and 57,787 shares issued and outstanding at December 31, 2023	57	58
Additional paid-in capital	1,087,411	1,008,766
Retained earnings	2,379,332	2,501,107
Accumulated other comprehensive loss	(69,423)	(39,040)
Total EPAM Systems, Inc. stockholders’ equity	3,397,377	3,470,891
Noncontrolling interest in consolidated subsidiaries	582	579
Total equity	3,397,959	3,471,470
Total liabilities and equity	$ 4,223,329	$ 4,352,365

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets
Trade receivables and contract assets allowance	$ 6,557	$ 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)	56,932,000	57,787,000
Common stock, shares outstanding (in shares)	56,932,000	57,787,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenues	$ 1,146,597	$ 1,170,206	$ 2,312,062	$ 2,381,147
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization)	810,857	808,715	1,645,191	1,664,616
Selling, general and administrative expenses	194,058	194,377	392,511	406,264
Depreciation and amortization expense	21,121	22,768	43,267	45,550
Income from operations	120,561	144,346	231,093	264,717
Interest and other income, net	12,036	11,710	27,078	23,231
Foreign exchange gain/(loss)	1,213	(6,010)	(706)	(10,618)
Income before provision for income taxes	133,810	150,046	257,465	277,330
Provision for income taxes	35,165	30,013	42,577	55,005
Net income	$ 98,645	$ 120,033	$ 214,888	$ 222,325
Net income per share:
Basic (in usd per share)	$ 1.71	$ 2.07	$ 3.72	$ 3.84
Diluted (in usd per share)	$ 1.70	$ 2.03	$ 3.67	$ 3.75
Shares used in calculation of net income per share:
Basic (in shares)	57,594	57,993	57,716	57,848
Diluted (in shares)	58,149	59,181	58,540	59,240

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 98,645	$ 120,033	$ 214,888	$ 222,325
Other comprehensive (loss)/income:
Change in foreign currency translation adjustments, net of tax	(5,649)	7,395	(24,361)	20,622
Change in unrealized (loss)/gain on hedging instruments, net of tax	(2,558)	(1,520)	(6,340)	2,614
Defined benefit pension plans - actuarial gain, net of tax	136	0	318	0
Other comprehensive (loss)/income	(8,071)	5,875	(30,383)	23,236
Comprehensive income	$ 90,574	$ 125,908	$ 184,505	$ 245,561

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, 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]
Net income	222,325
Balance, end of period (in shares) at Jun. 30, 2023		57,955
Balance, end of period at Jun. 30, 2023	3,263,340	$ 58		913,580	2,421,326	$ (118)	(72,085)	579
Treasury stock, end of period (in shares) at Jun. 30, 2023						14
Balance, beginning of period (in shares) at Mar. 31, 2023		57,848
Balance, beginning of period at Mar. 31, 2023	3,130,442	$ 58		864,254	2,342,730	$ (118)	(77,960)	1,478
Treasury stock, beginning of period (in shares) at Mar. 31, 2023						14
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			76
Equity withheld for employee taxes (in shares)		(21)
Equity withheld for employee taxes	(6,142)			(6,142)
Stock-based compensation expense	32,449			32,449
Exercise of stock options (in shares)		170
Exercise of stock options	4,601			4,601
Issuance of common stock from employee stock purchase plan (in shares)		77
Issuance of common stock from employee stock purchase plan	18,466			18,466
Repurchase of common stock (in shares)		(195)
Repurchase of common stock	(41,437)				(41,437)
Purchase of subsidiary shares from noncontrolling interest	(1,453)			(48)				(1,405)
Contributions to consolidated subsidiary from noncontrolling interest	506							506
Other comprehensive (loss) income	5,875						5,875
Net income	120,033				120,033
Balance, end of period (in shares) at Jun. 30, 2023		57,955
Balance, end of period at Jun. 30, 2023	$ 3,263,340	$ 58		913,580	2,421,326	$ (118)	(72,085)	579
Treasury stock, end of period (in shares) at Jun. 30, 2023						14
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)		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
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
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]
Exercise of stock options (in shares)	392
Net income	$ 214,888
Balance, end of period (in shares) at Jun. 30, 2024	56,932	56,932
Balance, end of period at Jun. 30, 2024	$ 3,397,959	$ 57		1,087,411	2,379,332	$ 0	(69,423)	582
Treasury stock, end of period (in shares) at Jun. 30, 2024						0
Balance, beginning of period (in shares) at Mar. 31, 2024		57,933
Balance, beginning of period at Mar. 31, 2024	3,475,685	$ 58		1,039,647	2,496,757	$ 0	(61,352)	575
Treasury stock, beginning of period (in shares) at Mar. 31, 2024						0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Restricted stock units vested (in shares)			69
Equity withheld for employee taxes (in shares)		(18)
Equity withheld for employee taxes	(4,577)			(4,577)
Stock-based compensation expense	35,285			35,285
Exercise of stock options (in shares)		23
Exercise of stock options	1,339			1,339
Issuance of common stock from employee stock purchase plan (in shares)		85
Issuance of common stock from employee stock purchase plan	15,717			15,717
Repurchase of common stock (in shares)		(1,160)
Repurchase of common stock	(216,071)	$ (1)			(216,070)
Contributions to consolidated subsidiary from noncontrolling interest	7							7
Other comprehensive (loss) income	(8,071)						(8,071)
Net income	$ 98,645				98,645
Balance, end of period (in shares) at Jun. 30, 2024	56,932	56,932
Balance, end of period at Jun. 30, 2024	$ 3,397,959	$ 57		$ 1,087,411	$ 2,379,332	$ 0	$ (69,423)	$ 582
Treasury stock, end of period (in shares) at Jun. 30, 2024						0

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income	$ 214,888	$ 222,325
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	43,267	45,550
Operating lease right-of-use assets amortization expense	18,773	20,628
Bad debt (recovery)/expense	(2,397)	2,031
Deferred taxes	(12,011)	4,603
Stock-based compensation expense	80,475	71,689
Unrealized gain on derivative instruments	0	(7,904)
Impairment charges	97	659
Other	12,466	(447)
Changes in assets and liabilities:
Trade receivables and contract assets	(63,001)	11,984
Prepaid and other assets	(3,659)	8,980
Accounts payable	(2,354)	1,784
Accrued expenses and other liabilities	(44,703)	(128,498)
Operating lease liabilities	(19,380)	(23,251)
Income taxes payable	(35,514)	(53,747)
Net cash provided by operating activities	186,947	176,386
Cash flows from investing activities:
Purchases of property and equipment	(11,453)	(14,796)
Purchases of short-term investments	(1,213)	(10,865)
Proceeds from short-term investments	1,509	0
Acquisition of business, net of cash acquired (Note 3)	(56,706)	0
Purchases of non-marketable securities	(6,909)	(1,906)
Other investing activities, net	936	(7,943)
Net cash used in investing activities	(73,836)	(35,510)
Cash flows from financing activities:
Proceeds from issuance of stock under the employee incentive programs	32,476	25,631
Payments of withholding taxes related to net share settlements of restricted stock units	(30,600)	(25,691)
Proceeds from debt	0	173
Repayment of debt	(1,124)	(1,964)
Repurchase of common stock	(335,070)	(49,947)
Payment of contingent consideration for previously acquired business	(4,750)	(8,684)
Purchase of subsidiary shares from noncontrolling interest	0	(1,972)
Other financing activities, net	907	(377)
Net cash used in financing activities	(338,161)	(62,831)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(26,447)	17,096
Net (decrease)/increase in cash, cash equivalents and restricted cash	(251,497)	95,141
Cash, cash equivalents and restricted cash, beginning of period	2,043,108	1,683,636
Cash, cash equivalents and restricted cash, end of period	$ 1,791,611	$ 1,778,777

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOW (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Cash Flows [Abstract]
Cash and cash equivalents	$ 1,787,182	$ 2,036,235
Restricted cash in Prepaid and other current assets	534	5,294
Restricted cash in Other noncurrent assets	3,895	1,579
Total restricted cash	4,429	6,873
Total cash, cash equivalents and restricted cash	$ 1,791,611	$ 2,043,108

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2024, the Company had $80.6 million of cash and cash equivalents in banks in Ukraine and $38.2 million of cash and cash equivalents in banks in Belarus. 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, Colombian pesos, Canadian dollars, 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, Hungarian forint and Mexican peso 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 and six months ended June 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 2024, the Company had $59.8 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 $52.2 million, laptops with a net book value of $3.6 million, most of which are in the possession of employees, various office furniture, equipment and supplies with a net book value of $3.4 million, and leasehold improvements located throughout Ukraine with a net book value of $0.6 million. Additionally, as of June 30, 2024, the Company had Operating lease right-of-use assets located throughout Ukraine with a net book value of $4.6 million. Through the issuance date of these interim financial statements, the Company is not aware of any damage to its long-lived assets in Ukraine and the Company expects to continue to use these assets as part of its global delivery model. On March 4, 2022, the Company announced a $100.0 million humanitarian commitment to support its employees and their families in and displaced from Ukraine. This humanitarian commitment is in addition to donations from EPAM's clients and employees and the work of EPAM volunteers on the ground and the Company’s spending under this commitment included special cash payments to support impacted employees, financial and medical support for impacted families, and donations to third-party humanitarian organizations. During the three and six months ended June 30, 2024, the Company expensed $2.7 million and $6.0 million, respectively, related to this commitment. Of the expensed amounts for the three and six months ended June 30, 2024, $0.6 million and $1.2 million, respectively, is classified in Cost of revenues (exclusive of depreciation and amortization), and $2.1 million and $4.8 million, respectively, is classified in Selling, general and administrative expenses on the condensed consolidated financial statements. During the three and six months ended June 30, 2023, the Company expensed $3.9 million and $10.0 million, respectively, related to this commitment. Of the expensed amounts for the three and six months ended June 30, 2023, $2.9 million and $5.3 million, respectively, is classified in Cost of revenues (exclusive of depreciation and amortization), and $1.0 million and $4.7 million, respectively, is classified in Selling, general and administrative expenses on the condensed consolidated financial statements. As of June 30, 2024, the Company has $31.8 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. During the three and six months ended June 30, 2024, the Company incurred no expenses related to the standby resources and incurred expenses of $0.1 million and $0.8 million, respectively, related to its geographic repositioning efforts, classified as Selling, general and administrative expenses. During the three and six months ended June 30, 2023, the Company incurred expenses of $2.0 million and $9.4 million, respectively, related to the standby resources, classified as Cost of revenues (exclusive of depreciation and amortization). Also, during the three and six months ended June 30, 2023, the Company incurred expenses of $0.2 million and $0.4 million, respectively, related to its geographic repositioning efforts, classified as Selling, general and administrative expenses.

ACQUISITIONS

ACQUISITIONS	6 Months Ended
	Jun. 30, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [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 six months ended June 30, 2024, the Company completed three acquisitions with a total purchase price of $74.2 million including contingent consideration with acquisition-date fair value of $9.8 million. These acquisitions expanded EPAM’s geographical reach across Latin America and Europe, enhanced its capabilities in Life Sciences analytics, as well as added $20.3 million of intangible assets, consisting mainly of customer relationships. Pro forma results of operations have not been presented because the effect of these acquisitions on the Company’s condensed consolidated financial statements was not material.

GOODWILL

GOODWILL	6 Months Ended
	Jun. 30, 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 38,642 12,911 51,553 2023 Acquisitions purchase accounting adjustments 863 — 863 Effect of net foreign currency exchange rate changes (260) (6,543) (6,803) Balance as of June 30, 2024 $ 281,105 $ 326,967 $ 608,072 There were no accumulated impairment losses in the North America or Europe reportable segments as of June 30, 2024 or December 31, 2023.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023: As of June 30, 2024 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 2,957 $ — $ 2,957 $ — Total assets measured at fair value on a recurring basis $ 2,957 $ — $ 2,957 $ — Foreign exchange derivative liabilities $ 1,034 $ — $ 1,034 $ — Contingent consideration liabilities 30,385 — — 30,385 Total liabilities measured at fair value on a recurring basis $ 31,419 $ — $ 1,034 $ 30,385 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 six months ended June 30, 2024 is as follows: Amount Contingent consideration liabilities as of January 1, 2024 $ 23,150 Acquisition date fair value of contingent consideration — 2024 Acquisitions 9,756 Changes in fair value of contingent consideration included in Interest and other income, net 2,536 Payment of contingent consideration for previously acquired businesses (5,000) Effect of foreign currency exchange rate changes, net (57) Contingent consideration liabilities as of June 30, 2024 $ 30,385 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 June 30, 2024 Financial Assets: Cash equivalents: Money market funds $ 31,829 $ 31,829 $ 31,829 $ — $ — Time deposits 237,680 237,680 — 237,680 — Total cash equivalents $ 269,509 $ 269,509 $ 31,829 $ 237,680 $ — Time deposits included in Short-term investments $ 60,414 $ 60,414 $ — $ 60,414 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 46,448 $ 46,448 $ — $ 46,448 $ — 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 $38.6 million and $31.7 million as of June 30, 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	6 Months Ended
	Jun. 30, 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, Hungarian forint and Mexican peso transactions. As of June 30, 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 June 30, 2024 and December 31, 2023 were as follows: As of June 30, 2024 As of December 31, 2023 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts designated as hedging instruments Prepaid expenses and other current assets $ 2,957 $ 10,416 Accrued expenses and other current liabilities $ 1,034 $ 248

LEASES

LEASES	6 Months Ended
	Jun. 30, 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 7.6 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 and six months ended June 30, 2024 and 2023. During the three and six months ended June 30, 2024 and 2023, the components of lease cost were as follows: Three Months Ended Six Months Ended Income Statement Classification 2024 2023 2024 2023 Operating lease cost Selling, general and administrative expenses $ 10,833 $ 11,950 $ 21,686 $ 23,133 Variable lease cost Selling, general and administrative expenses 2,439 3,388 5,068 7,036 Short-term lease cost Selling, general and administrative expenses 947 955 1,906 3,611 Total lease cost $ 14,219 $ 16,293 $ 28,660 $ 33,780 Supplemental cash flow information related to leases for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 10,922 $ 13,526 $ 22,625 $ 25,245 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 3,333 $ 3,679 $ 10,986 $ 7,028 Non-cash net increase due to lease modifications: Operating lease right-of-use assets $ 940 $ 4,508 $ 6,239 $ 5,891 Operating lease liabilities $ 941 $ 5,026 $ 6,131 $ 6,140 Weighted average remaining lease term and discount rate as of June 30, 2024 and 2023 were as follows: As of June 30, 2024 As of June 30, 2023 Weighted average remaining lease term, in years: Operating leases 4.7 5.2 Weighted average discount rate: Operating leases 4.3 % 3.8 % As of June 30, 2024, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2024 (excluding six months ended June 30, 2024) $ 21,779 2025 37,314 2026 31,803 2027 23,105 2028 19,150 Thereafter 20,691 Total lease payments 153,842 Less: imputed interest (13,359) Total $ 140,483 The Company had committed to payments of $3.4 million related to operating lease agreements that had not yet commenced as of June 30, 2024. These operating leases will commence on various dates during 2024 with lease terms ranging from 0.3 to 5.1 years. The Company did not have any material finance lease agreements that had not yet commenced.

DEBT

DEBT	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
COST OPTIMIZATION PROGRAM	COST OPTIMIZATION PROGRAMS During the quarter ended June 30, 2024, the Company initiated the 2024 Cost Optimization Program to streamline operations and optimize corporate functions. This program is expected to include workforce reductions and contract terminations. The Company expects to complete all restructuring actions commenced during the three months ended June 30, 2024 by the end of 2024 and to incur additional charges of approximately $20.0 million. 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. During the quarter ended September 30, 2023, the Company initiated the 2023 Cost Optimization Program to streamline operations and optimize corporate functions. This program included workforce reduction and closure of underutilized facilities. As of June 30, 2024, the Company has completed all restructuring actions commenced during the year ended December 31, 2023. The total costs related to the Cost Optimization Programs 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 June 30, 2024 2024 Cost Optimization Program Employee separation costs $ — $ 7,229 $ (3,691) $ 3,538 Contract termination charges — 286 — 286 2023 Cost Optimization Program Employee separation costs 6,966 9,015 (15,981) — Total $ 6,966 $ 16,530 $ (19,672) $ 3,824

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Client Locations Americas $ 665,178 $ 26,021 $ 691,199 EMEA 32,717 398,604 431,321 APAC 734 23,343 24,077 CEE (1) — — — Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Client Locations Americas $ 1,333,360 $ 50,759 $ 1,384,119 EMEA 68,541 812,027 880,568 APAC 1,457 45,918 47,375 CEE (1) — — — Revenues $ 1,403,358 $ 908,704 $ 2,312,062 (1) As a result of the Company’s exit from Russia and 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 June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Client Locations Americas $ 653,601 $ 25,150 $ 336 $ 679,087 EMEA 25,629 433,456 — 459,085 APAC 649 23,570 — 24,219 CEE 192 1,266 6,357 7,815 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Client Locations Americas $ 1,337,154 $ 51,104 $ 631 $ 1,388,889 EMEA 51,001 872,021 — 923,022 APAC 1,375 49,654 — 51,029 CEE 498 3,810 13,899 18,207 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 113,999 $ 138,328 $ 252,327 Financial Services 123,369 121,000 244,369 Software & Hi-Tech 128,261 40,561 168,822 Business Information & Media 110,789 54,973 165,762 Life Sciences & Healthcare 120,607 19,477 140,084 Emerging Verticals 101,604 73,629 175,233 Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 231,690 $ 279,767 $ 511,457 Financial Services 247,661 239,444 487,105 Software & Hi-Tech 261,455 80,799 342,254 Business Information & Media 217,481 118,599 336,080 Life Sciences & Healthcare 242,324 37,969 280,293 Emerging Verticals 202,747 152,126 354,873 Revenues $ 1,403,358 $ 908,704 $ 2,312,062 Three Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 120,038 $ 151,639 $ 1,782 $ 273,459 Financial Services 135,178 120,361 3,429 258,968 Software & Hi-Tech 135,755 38,910 553 175,218 Business Information & Media 106,357 83,260 67 189,684 Life Sciences & Healthcare 99,966 14,454 21 114,441 Emerging Verticals 82,777 74,818 841 158,436 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 243,697 $ 304,694 $ 3,428 $ 551,819 Financial Services 279,028 243,969 6,636 529,633 Software & Hi-Tech 285,553 77,592 1,264 364,409 Business Information & Media 222,515 169,368 181 392,064 Life Sciences & Healthcare 196,563 28,980 156 225,699 Emerging Verticals 162,672 151,986 2,865 317,523 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 (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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Contract Types Time-and-material $ 592,045 $ 351,576 $ 943,621 Fixed-price 102,328 93,323 195,651 Licensing and other revenues 4,256 3,069 7,325 Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Contract Types Time-and-material $ 1,197,741 $ 727,406 $ 1,925,147 Fixed-price 194,363 177,612 371,975 Licensing and other revenues 11,254 3,686 14,940 Revenues $ 1,403,358 $ 908,704 $ 2,312,062 Three Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 606,766 $ 416,194 $ 5,060 $ 1,028,020 Fixed-price 67,273 66,468 1,612 135,353 Licensing and other revenues 6,032 780 21 6,833 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 1,251,394 $ 841,792 $ 9,813 $ 2,102,999 Fixed-price 128,504 132,671 4,683 265,858 Licensing and other revenues 10,130 2,126 34 12,290 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 695,853 $ 445,577 $ 1,141,430 Transferred at a point of time 2,776 2,391 5,167 Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 1,396,237 $ 906,232 $ 2,302,469 Transferred at a point of time 7,121 2,472 9,593 Revenues $ 1,403,358 $ 908,704 $ 2,312,062 Three Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 676,637 $ 482,999 $ 6,673 $ 1,166,309 Transferred at a point of time 3,434 443 20 3,897 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 1,383,671 $ 975,396 $ 14,497 $ 2,373,564 Transferred at a point of time 6,357 1,193 33 7,583 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 During the three and six months ended June 30, 2024, the Company recognized $10.4 million and $15.4 million, respectively, of revenues from performance obligations satisfied in previous periods compared to $3.5 million and $5.6 million during the three and six months ended June 30, 2023, respectively. The following table includes the estimated revenues expected to be recognized in the future related to performance obligations that are partially or fully unsatisfied as of June 30, 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 $ 29,658 $ 1,141 $ 29 $ — $ 30,828 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 $ 51,027 $ 24,309 Contract liabilities included in Accrued expenses and other current liabilities $ 31,811 $ 27,988 Contract liabilities included in Other noncurrent liabilities $ 243 $ 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 and six months ended June 30, 2024, the Company recognized $5.3 million and $17.4 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2023. During the three and six months ended June 30, 2023, the Company recognized $5.0 million and $24.2 million, respectively, of revenues that were included in Accrued expenses and other current liabilities at December 31, 2022.

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	6 Months Ended
	Jun. 30, 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 Six Months Ended 2024 2023 2024 2023 Cost of revenues (exclusive of depreciation and amortization) $ 16,937 $ 15,416 $ 39,294 $ 31,427 Selling, general and administrative expenses 18,747 17,694 41,181 40,262 Total $ 35,684 $ 33,110 $ 80,475 $ 71,689 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 81 $ 296.87 Options exercised (392) $ 42.37 Options forfeited (7) $ 279.30 Options expired (2) $ 416.96 Options outstanding at June 30, 2024 1,309 $ 160.17 $ 86,552 4.1 Options vested and exercisable as of June 30, 2024 1,065 $ 127.51 $ 86,552 3.0 Options expected to vest as of June 30, 2024 231 $ 302.61 $ — 8.6 As of June 30, 2024, $25.7 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 2.2 years. Restricted Stock and Restricted Stock Units Service-Based Awards The table below summarizes activity related to the Company’s equity-classified and liability-classified service-based awards for the six months ended June 30, 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 523 $ 291.61 34 $ 298.60 Awards modified 1 $ 366.27 (1) $ 114.30 Awards vested (327) $ 286.86 (39) $ 271.72 Awards forfeited/cancelled (48) $ 300.90 (1) $ 289.89 Unvested service-based awards outstanding at June 30, 2024 1,223 $ 293.30 91 $ 299.54 As of June 30, 2024, $282.1 million of total remaining unrecognized stock-based compensation cost related to service-based equity-classified restricted stock units (“RSUs”), net of estimated forfeitures, is expected to be recognized over the weighted-average remaining requisite service period of 2.8 years. As of June 30, 2024, $14.9 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 2.6 years. The liability associated with the service-based liability-classified RSUs as of June 30, 2024 and December 31, 2023, was $0.5 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 six months ended June 30, 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 38 $ 327.31 Awards vested (3) $ 560.97 Awards forfeited/cancelled (1) $ 594.50 Unvested performance-based awards outstanding at June 30, 2024 47 $ 333.56 As of June 30, 2024, $8.2 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 2.0 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. There were 32 thousand such awards as of June 30, 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 and six months ended June 30, 2024, the ESPP participants purchased 85 thousand shares of common stock under the ESPP. During the three and six months ended June 30, 2023, the ESPP participants purchased 77 thousand shares of common stock under the ESPP. The Company recognizes compensation expense related to share issuances pursuant to the ESPP on a straight-line basis over the six-month offering period. For the three and six months ended June 30, 2024, the Company recognized $2.5 million and $5.1 million, respectively, of stock-based compensation expense related to the ESPP. For the three and six months ended June 30, 2023, the Company recognized $3.4 million and $6.5 million, respectively, of stock-based compensation expense related to the ESPP. As of June 30, 2024, total unrecognized stock-based compensation cost related to the ESPP was $3.2 million, which is expected to be recognized over a period of 0.3 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 June 30, 2024, the Company has commitments to grant up to $15.0 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 June 30, 2024 was not material. Share Repurchases On February 13, 2023, the Board of Directors authorized a share repurchase program (the “2023 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. As of June 30, 2024, the Company exhausted the $500.0 million available for purchases of the Company’s common stock under the 2023 Repurchase Program. See Note 17 “Subsequent Event” for details of the Board of Directors authorization of a new share repurchase program for up to $500.0 million implemented on August 1, 2024.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 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 June 30, 2024 and 2023 was 26.3% and 20.0%, respectively, and 16.5% and 19.8% during the six months ended June 30, 2024 and 2023, respectively. The Company recorded a tax shortfall upon vesting or exercise of stock awards of $0.1 million during the three months ended June 30, 2024. The Company’s effective tax rate benefited from excess tax benefits recorded upon vesting or exercise of stock awards of $7.4 million during the three months ended June 30, 2023 and $20.8 million and $13.4 million during the six months ended June 30, 2024 and 2023, respectively. Additionally, during the three and six months ended June 30, 2024, the Company’s effective tax rate benefited from the recognition of one-time benefits of $0.1 million and $2.3 million, respectively, resulting from the Company’s decision to change the tax status and to classify certain of its foreign subsidiaries as disregarded entities for U.S. income tax purposes. During the three months ended June 30, 2024, the Company recorded a tax expense of $1.2 million resulting from the recognition of a deferred tax liability associated with unremitted earnings of subsidiaries.

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 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 Six Months Ended 2024 2023 2024 2023 Numerator for basic and diluted earnings per share: Net income $ 98,645 $ 120,033 $ 214,888 $ 222,325 Numerator for basic and diluted earnings per share $ 98,645 $ 120,033 $ 214,888 $ 222,325 Denominator: Weighted average common shares for basic earnings per share 57,594 57,993 57,716 57,848 Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP 555 1,188 824 1,392 Weighted average common shares for diluted earnings per share 58,149 59,181 58,540 59,240 Net income per share: Basic $ 1.71 $ 2.07 $ 3.72 $ 3.84 Diluted $ 1.70 $ 2.03 $ 3.67 $ 3.75 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 1,379 thousand and 871 thousand during the three and six months ended June 30, 2024, respectively. The number of shares underlying equity-based awards that were excluded from the calculation of diluted earnings per share as their effect would be anti-dilutive was 519 thousand and 389 thousand during the three and six months ended June 30, 2023, respectively.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 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 June 30, 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. As of June 30, 2024, $69.1 million remains to be spent under this contractual commitment. 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	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024 and 2023, were as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Segment revenues: North America $ 698,629 $ 680,071 $ 1,403,358 $ 1,390,028 Europe 447,968 483,442 908,704 976,589 Russia — 6,693 — 14,530 Total segment revenues $ 1,146,597 $ 1,170,206 $ 2,312,062 $ 2,381,147 Segment operating profit/(loss): North America $ 122,838 $ 131,660 $ 243,502 $ 254,491 Europe 54,538 64,801 115,057 124,705 Russia — (2,743) — (5,748) Total segment operating profit $ 177,376 $ 193,718 $ 358,559 $ 373,448 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 and six months ended June 30, 2024 and 2023. Reconciliation of segment operating profit to consolidated income before provision for income taxes is presented below: Three Months Ended Six Months Ended 2024 2023 2024 2023 Total segment operating profit: $ 177,376 $ 193,718 $ 358,559 $ 373,448 Unallocated amounts: Stock-based compensation expense (35,684) (33,110) (80,475) (71,689) Amortization of intangibles assets (5,821) (5,483) (11,770) (11,020) Other acquisition-related expenses (456) (1,340) (1,679) (1,581) Other unallocated expenses (14,854) (9,439) (33,542) (24,441) Income from operations 120,561 144,346 231,093 264,717 Interest and other income, net 12,036 11,710 27,078 23,231 Foreign exchange gain/(loss) 1,213 (6,010) (706) (10,618) Income before provision for income taxes $ 133,810 $ 150,046 $ 257,465 $ 277,330 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 $ 59,792 $ 62,653 Belarus 47,377 49,875 United States 37,070 42,510 India 13,166 12,735 Poland 12,396 15,057 Hungary 5,171 6,683 Other 35,406 45,540 Total $ 210,378 $ 235,053 The table below presents information about the Company’s revenues by client location for the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 United States $ 662,567 $ 649,622 $ 1,329,715 $ 1,329,059 United Kingdom 127,822 152,481 263,723 307,808 Switzerland 101,310 89,497 199,754 179,358 Germany 49,561 45,028 100,023 87,763 Netherlands 45,091 58,408 96,761 117,508 Canada 21,113 26,485 43,733 54,317 Russia — 5,872 — 11,745 Other locations 139,133 142,813 278,353 293,589 Total $ 1,146,597 $ 1,170,206 $ 2,312,062 $ 2,381,147

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	6 Months Ended
	Jun. 30, 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 Six Months Ended 2024 2023 2024 2023 Foreign currency translation Beginning balance $ (62,313) $ (88,553) $ (43,601) $ (101,780) Foreign currency translation (7,790) 7,761 (31,291) 24,061 Income tax benefit/(expense) 2,141 (366) 6,930 (3,439) Foreign currency translation, net of tax (5,649) 7,395 (24,361) 20,622 Ending balance $ (67,962) $ (81,158) $ (67,962) $ (81,158) Cash flow hedging instruments Beginning balance $ 4,037 $ 12,440 $ 7,819 $ 8,306 Unrealized (loss)/ gain in fair value (882) 7,938 (3,389) 15,833 Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization) (2,444) (9,904) (4,855) (12,484) Net loss reclassified into Foreign exchange loss — — — 33 Income tax benefit/(expense) 768 446 1,904 (768) Cash flow hedging instruments, net of tax (2,558) (1,520) (6,340) 2,614 Ending balance (1) $ 1,479 $ 10,920 $ 1,479 $ 10,920 Defined benefit plans Beginning balance $ (3,076) $ (1,847) $ (3,258) $ (1,847) Actuarial gains 131 — 313 — Income tax benefit 5 — 5 — Defined benefit plans, net of tax 136 — 318 — Ending balance $ (2,940) $ (1,847) $ (2,940) $ (1,847) Accumulated other comprehensive loss $ (69,423) $ (72,085) $ (69,423) $ (72,085) (1)

SUBSEQUENT EVENT

SUBSEQUENT EVENT	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENT	SUBSEQUENT EVENT On August 1, 2024, the Board of Directors authorized a new repurchase program (the “2024 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. 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 will have 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.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income	$ 98,645	$ 116,243	$ 120,033	$ 102,292	$ 214,888	$ 222,325

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Jason Peterson [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 13, 2024, Jason Peterson, Senior Vice President, Treasurer, and Chief Financial Officer, adopted a trading arrangement for the sale of securities of the Company’s common stock that is intended to satisfy the affirmative defense conditions of Securities Exchange Act Rule 10b5-1(c) (a “Rule 10b5-1 Trading Plan”). Mr. Peterson’s Rule 10b5-1 Trading Plan expires on June 30, 2025 and provides for the sale of up to 2,542 shares of common stock according to the terms of his Rule 10b5-1 Trading Plan.
Name	Jason Peterson
Title	Senior Vice President, Treasurer, and Chief Financial Officer
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 13, 2024
Expiration Date	June 30, 2025
Arrangement Duration	382 days
Aggregate Available	2,542	2,542

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 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 June 30, 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 and six months ended June 30, 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)	6 Months Ended
	Jun. 30, 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 38,642 12,911 51,553 2023 Acquisitions purchase accounting adjustments 863 — 863 Effect of net foreign currency exchange rate changes (260) (6,543) (6,803) Balance as of June 30, 2024 $ 281,105 $ 326,967 $ 608,072

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023: As of June 30, 2024 Balance Level 1 Level 2 Level 3 Foreign exchange derivative assets $ 2,957 $ — $ 2,957 $ — Total assets measured at fair value on a recurring basis $ 2,957 $ — $ 2,957 $ — Foreign exchange derivative liabilities $ 1,034 $ — $ 1,034 $ — Contingent consideration liabilities 30,385 — — 30,385 Total liabilities measured at fair value on a recurring basis $ 31,419 $ — $ 1,034 $ 30,385 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 six months ended June 30, 2024 is as follows: Amount Contingent consideration liabilities as of January 1, 2024 $ 23,150 Acquisition date fair value of contingent consideration — 2024 Acquisitions 9,756 Changes in fair value of contingent consideration included in Interest and other income, net 2,536 Payment of contingent consideration for previously acquired businesses (5,000) Effect of foreign currency exchange rate changes, net (57) Contingent consideration liabilities as of June 30, 2024 $ 30,385
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 June 30, 2024 Financial Assets: Cash equivalents: Money market funds $ 31,829 $ 31,829 $ 31,829 $ — $ — Time deposits 237,680 237,680 — 237,680 — Total cash equivalents $ 269,509 $ 269,509 $ 31,829 $ 237,680 $ — Time deposits included in Short-term investments $ 60,414 $ 60,414 $ — $ 60,414 $ — Financial Liabilities: Borrowings under the 2021 Credit Agreement $ 25,000 $ 25,000 $ — $ 25,000 $ — Deferred consideration for asset acquisition $ 46,448 $ 46,448 $ — $ 46,448 $ — 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)	6 Months Ended
	Jun. 30, 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 June 30, 2024 and December 31, 2023 were as follows: As of June 30, 2024 As of December 31, 2023 Balance Sheet Classification Asset Derivatives Liability Derivatives Asset Derivatives Liability Derivatives Foreign exchange forward contracts designated as hedging instruments Prepaid expenses and other current assets $ 2,957 $ 10,416 Accrued expenses and other current liabilities $ 1,034 $ 248

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Cost	During the three and six months ended June 30, 2024 and 2023, the components of lease cost were as follows: Three Months Ended Six Months Ended Income Statement Classification 2024 2023 2024 2023 Operating lease cost Selling, general and administrative expenses $ 10,833 $ 11,950 $ 21,686 $ 23,133 Variable lease cost Selling, general and administrative expenses 2,439 3,388 5,068 7,036 Short-term lease cost Selling, general and administrative expenses 947 955 1,906 3,611 Total lease cost $ 14,219 $ 16,293 $ 28,660 $ 33,780
Schedule of Supplemental Cash Flow Information	Supplemental cash flow information related to leases for the three and six months ended June 30, 2024 and 2023 was as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows used for operating leases $ 10,922 $ 13,526 $ 22,625 $ 25,245 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 3,333 $ 3,679 $ 10,986 $ 7,028 Non-cash net increase due to lease modifications: Operating lease right-of-use assets $ 940 $ 4,508 $ 6,239 $ 5,891 Operating lease liabilities $ 941 $ 5,026 $ 6,131 $ 6,140
Schedule of Weighted Average Lease Terms and Discount Rates	Weighted average remaining lease term and discount rate as of June 30, 2024 and 2023 were as follows: As of June 30, 2024 As of June 30, 2023 Weighted average remaining lease term, in years: Operating leases 4.7 5.2 Weighted average discount rate: Operating leases 4.3 % 3.8 %
Schedule of Maturity of Operating Lease Liabilities	As of June 30, 2024, operating lease liabilities will mature as follows: Year ending December 31, Lease Payments 2024 (excluding six months ended June 30, 2024) $ 21,779 2025 37,314 2026 31,803 2027 23,105 2028 19,150 Thereafter 20,691 Total lease payments 153,842 Less: imputed interest (13,359) Total $ 140,483

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 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)	6 Months Ended
	Jun. 30, 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 June 30, 2024 2024 Cost Optimization Program Employee separation costs $ — $ 7,229 $ (3,691) $ 3,538 Contract termination charges — 286 — 286 2023 Cost Optimization Program Employee separation costs 6,966 9,015 (15,981) — Total $ 6,966 $ 16,530 $ (19,672) $ 3,824

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Client Locations Americas $ 665,178 $ 26,021 $ 691,199 EMEA 32,717 398,604 431,321 APAC 734 23,343 24,077 CEE (1) — — — Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Client Locations Americas $ 1,333,360 $ 50,759 $ 1,384,119 EMEA 68,541 812,027 880,568 APAC 1,457 45,918 47,375 CEE (1) — — — Revenues $ 1,403,358 $ 908,704 $ 2,312,062 (1) As a result of the Company’s exit from Russia and 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 June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Client Locations Americas $ 653,601 $ 25,150 $ 336 $ 679,087 EMEA 25,629 433,456 — 459,085 APAC 649 23,570 — 24,219 CEE 192 1,266 6,357 7,815 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Client Locations Americas $ 1,337,154 $ 51,104 $ 631 $ 1,388,889 EMEA 51,001 872,021 — 923,022 APAC 1,375 49,654 — 51,029 CEE 498 3,810 13,899 18,207 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 113,999 $ 138,328 $ 252,327 Financial Services 123,369 121,000 244,369 Software & Hi-Tech 128,261 40,561 168,822 Business Information & Media 110,789 54,973 165,762 Life Sciences & Healthcare 120,607 19,477 140,084 Emerging Verticals 101,604 73,629 175,233 Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 231,690 $ 279,767 $ 511,457 Financial Services 247,661 239,444 487,105 Software & Hi-Tech 261,455 80,799 342,254 Business Information & Media 217,481 118,599 336,080 Life Sciences & Healthcare 242,324 37,969 280,293 Emerging Verticals 202,747 152,126 354,873 Revenues $ 1,403,358 $ 908,704 $ 2,312,062 Three Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 120,038 $ 151,639 $ 1,782 $ 273,459 Financial Services 135,178 120,361 3,429 258,968 Software & Hi-Tech 135,755 38,910 553 175,218 Business Information & Media 106,357 83,260 67 189,684 Life Sciences & Healthcare 99,966 14,454 21 114,441 Emerging Verticals 82,777 74,818 841 158,436 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Industry Verticals Consumer Goods, Retail & Travel (1) $ 243,697 $ 304,694 $ 3,428 $ 551,819 Financial Services 279,028 243,969 6,636 529,633 Software & Hi-Tech 285,553 77,592 1,264 364,409 Business Information & Media 222,515 169,368 181 392,064 Life Sciences & Healthcare 196,563 28,980 156 225,699 Emerging Verticals 162,672 151,986 2,865 317,523 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 (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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Contract Types Time-and-material $ 592,045 $ 351,576 $ 943,621 Fixed-price 102,328 93,323 195,651 Licensing and other revenues 4,256 3,069 7,325 Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Contract Types Time-and-material $ 1,197,741 $ 727,406 $ 1,925,147 Fixed-price 194,363 177,612 371,975 Licensing and other revenues 11,254 3,686 14,940 Revenues $ 1,403,358 $ 908,704 $ 2,312,062 Three Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 606,766 $ 416,194 $ 5,060 $ 1,028,020 Fixed-price 67,273 66,468 1,612 135,353 Licensing and other revenues 6,032 780 21 6,833 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Contract Types Time-and-material $ 1,251,394 $ 841,792 $ 9,813 $ 2,102,999 Fixed-price 128,504 132,671 4,683 265,858 Licensing and other revenues 10,130 2,126 34 12,290 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147 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 June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 695,853 $ 445,577 $ 1,141,430 Transferred at a point of time 2,776 2,391 5,167 Revenues $ 698,629 $ 447,968 $ 1,146,597 Six Months Ended June 30, 2024 Reportable Segments North America Europe Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 1,396,237 $ 906,232 $ 2,302,469 Transferred at a point of time 7,121 2,472 9,593 Revenues $ 1,403,358 $ 908,704 $ 2,312,062 Three Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 676,637 $ 482,999 $ 6,673 $ 1,166,309 Transferred at a point of time 3,434 443 20 3,897 Revenues $ 680,071 $ 483,442 $ 6,693 $ 1,170,206 Six Months Ended June 30, 2023 Reportable Segments North America Europe Russia Consolidated Revenues Timing of Revenue Recognition Transferred over time $ 1,383,671 $ 975,396 $ 14,497 $ 2,373,564 Transferred at a point of time 6,357 1,193 33 7,583 Revenues $ 1,390,028 $ 976,589 $ 14,530 $ 2,381,147
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 June 30, 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 $ 29,658 $ 1,141 $ 29 $ — $ 30,828
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 $ 51,027 $ 24,309 Contract liabilities included in Accrued expenses and other current liabilities $ 31,811 $ 27,988 Contract liabilities included in Other noncurrent liabilities $ 243 $ 951

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2024 2023 2024 2023 Cost of revenues (exclusive of depreciation and amortization) $ 16,937 $ 15,416 $ 39,294 $ 31,427 Selling, general and administrative expenses 18,747 17,694 41,181 40,262 Total $ 35,684 $ 33,110 $ 80,475 $ 71,689
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 81 $ 296.87 Options exercised (392) $ 42.37 Options forfeited (7) $ 279.30 Options expired (2) $ 416.96 Options outstanding at June 30, 2024 1,309 $ 160.17 $ 86,552 4.1 Options vested and exercisable as of June 30, 2024 1,065 $ 127.51 $ 86,552 3.0 Options expected to vest as of June 30, 2024 231 $ 302.61 $ — 8.6
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 six months ended June 30, 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 523 $ 291.61 34 $ 298.60 Awards modified 1 $ 366.27 (1) $ 114.30 Awards vested (327) $ 286.86 (39) $ 271.72 Awards forfeited/cancelled (48) $ 300.90 (1) $ 289.89 Unvested service-based awards outstanding at June 30, 2024 1,223 $ 293.30 91 $ 299.54
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 six months ended June 30, 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 38 $ 327.31 Awards vested (3) $ 560.97 Awards forfeited/cancelled (1) $ 594.50 Unvested performance-based awards outstanding at June 30, 2024 47 $ 333.56

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2024 2023 2024 2023 Numerator for basic and diluted earnings per share: Net income $ 98,645 $ 120,033 $ 214,888 $ 222,325 Numerator for basic and diluted earnings per share $ 98,645 $ 120,033 $ 214,888 $ 222,325 Denominator: Weighted average common shares for basic earnings per share 57,594 57,993 57,716 57,848 Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP 555 1,188 824 1,392 Weighted average common shares for diluted earnings per share 58,149 59,181 58,540 59,240 Net income per share: Basic $ 1.71 $ 2.07 $ 3.72 $ 3.84 Diluted $ 1.70 $ 2.03 $ 3.67 $ 3.75

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2024 and 2023, were as follows: Three Months Ended Six Months Ended 2024 2023 2024 2023 Segment revenues: North America $ 698,629 $ 680,071 $ 1,403,358 $ 1,390,028 Europe 447,968 483,442 908,704 976,589 Russia — 6,693 — 14,530 Total segment revenues $ 1,146,597 $ 1,170,206 $ 2,312,062 $ 2,381,147 Segment operating profit/(loss): North America $ 122,838 $ 131,660 $ 243,502 $ 254,491 Europe 54,538 64,801 115,057 124,705 Russia — (2,743) — (5,748) Total segment operating profit $ 177,376 $ 193,718 $ 358,559 $ 373,448
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 Six Months Ended 2024 2023 2024 2023 Total segment operating profit: $ 177,376 $ 193,718 $ 358,559 $ 373,448 Unallocated amounts: Stock-based compensation expense (35,684) (33,110) (80,475) (71,689) Amortization of intangibles assets (5,821) (5,483) (11,770) (11,020) Other acquisition-related expenses (456) (1,340) (1,679) (1,581) Other unallocated expenses (14,854) (9,439) (33,542) (24,441) Income from operations 120,561 144,346 231,093 264,717 Interest and other income, net 12,036 11,710 27,078 23,231 Foreign exchange gain/(loss) 1,213 (6,010) (706) (10,618) Income before provision for income taxes $ 133,810 $ 150,046 $ 257,465 $ 277,330
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 $ 59,792 $ 62,653 Belarus 47,377 49,875 United States 37,070 42,510 India 13,166 12,735 Poland 12,396 15,057 Hungary 5,171 6,683 Other 35,406 45,540 Total $ 210,378 $ 235,053
Schedule of Revenues by Customer Location	The table below presents information about the Company’s revenues by client location for the three and six months ended June 30, 2024 and 2023: Three Months Ended Six Months Ended 2024 2023 2024 2023 United States $ 662,567 $ 649,622 $ 1,329,715 $ 1,329,059 United Kingdom 127,822 152,481 263,723 307,808 Switzerland 101,310 89,497 199,754 179,358 Germany 49,561 45,028 100,023 87,763 Netherlands 45,091 58,408 96,761 117,508 Canada 21,113 26,485 43,733 54,317 Russia — 5,872 — 11,745 Other locations 139,133 142,813 278,353 293,589 Total $ 1,146,597 $ 1,170,206 $ 2,312,062 $ 2,381,147

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	6 Months Ended
	Jun. 30, 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 Six Months Ended 2024 2023 2024 2023 Foreign currency translation Beginning balance $ (62,313) $ (88,553) $ (43,601) $ (101,780) Foreign currency translation (7,790) 7,761 (31,291) 24,061 Income tax benefit/(expense) 2,141 (366) 6,930 (3,439) Foreign currency translation, net of tax (5,649) 7,395 (24,361) 20,622 Ending balance $ (67,962) $ (81,158) $ (67,962) $ (81,158) Cash flow hedging instruments Beginning balance $ 4,037 $ 12,440 $ 7,819 $ 8,306 Unrealized (loss)/ gain in fair value (882) 7,938 (3,389) 15,833 Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization) (2,444) (9,904) (4,855) (12,484) Net loss reclassified into Foreign exchange loss — — — 33 Income tax benefit/(expense) 768 446 1,904 (768) Cash flow hedging instruments, net of tax (2,558) (1,520) (6,340) 2,614 Ending balance (1) $ 1,479 $ 10,920 $ 1,479 $ 10,920 Defined benefit plans Beginning balance $ (3,076) $ (1,847) $ (3,258) $ (1,847) Actuarial gains 131 — 313 — Income tax benefit 5 — 5 — Defined benefit plans, net of tax 136 — 318 — Ending balance $ (2,940) $ (1,847) $ (2,940) $ (1,847) Accumulated other comprehensive loss $ (69,423) $ (72,085) $ (69,423) $ (72,085) (1)

ORGANIZATION AND SUMMARY OF S_3

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Risks and Uncertainties) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Concentration Risk [Line Items]
Cash and cash equivalents	$ 1,787,182	$ 2,036,235
Ukraine
Concentration Risk [Line Items]
Cash and cash equivalents	80,600
Belarus
Concentration Risk [Line Items]
Cash and cash equivalents	$ 38,200

IMPACT OF THE INVASION OF UKR_2

IMPACT OF THE INVASION OF UKRAINE (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 04, 2022
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	$ 210,378,000		$ 210,378,000		$ 235,053,000
Operating lease, right-of-use asset	129,953,000		129,953,000		134,898,000
Cost of revenues (exclusive of depreciation and amortization)	810,857,000	$ 808,715,000	1,645,191,000	$ 1,664,616,000
Selling, general and administrative expenses	194,058,000	194,377,000	392,511,000	406,264,000
Humanitarian Commitment
Unusual or Infrequent Item, or Both [Line Items]
Commitments related to operating lease agreements that have not yet commenced	31,800,000		31,800,000
Nonoperating expense	2,700,000	3,900,000	6,000,000	10,000,000
Cost of revenues (exclusive of depreciation and amortization)	600,000	2,900,000	1,200,000	5,300,000
Selling, general and administrative expenses	2,100,000	1,000,000	4,800,000	4,700,000
Ukraine
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	59,792,000		59,792,000		$ 62,653,000
Operating lease, right-of-use asset	4,600,000		4,600,000
Ukraine | Cost of revenues (exclusive of depreciation and amortization)
Unusual or Infrequent Item, or Both [Line Items]
Standby resources expense		2,000,000		9,400,000
Ukraine | Selling, general and administrative expenses
Unusual or Infrequent Item, or Both [Line Items]
Standby resources expense	100,000	$ 200,000	800,000	$ 400,000
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	59,800,000		59,800,000
Ukraine | Construction in Progress
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	52,200,000		52,200,000
Ukraine | Computer Equipment
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	3,600,000		3,600,000
Ukraine | Furniture and Fixtures
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	3,400,000		3,400,000
Ukraine | Leasehold Improvements
Unusual or Infrequent Item, or Both [Line Items]
Property and equipment, net	$ 600,000		$ 600,000

ACQUISITIONS (Narrative) (Detai

ACQUISITIONS (Narrative) (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 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	3
Purchase price including contingent consideration	$ 74.2
Contingent consideration fair value	9.8
2024 Acquisitions | Customer Relationships
Business Acquisition [Line Items]
Finite-lived intangible assets acquired, amount	$ 20.3

GOODWILL (Goodwill Roll Forward

GOODWILL (Goodwill Roll Forward) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Total
Beginning balance	$ 562,459
2024 Acquisitions	51,553
2023 Acquisitions purchase accounting adjustments	863
Effect of net foreign currency exchange rate changes	(6,803)
Ending balance	608,072
North America
Total
Beginning balance	241,860
2024 Acquisitions	38,642
2023 Acquisitions purchase accounting adjustments	863
Effect of net foreign currency exchange rate changes	(260)
Ending balance	281,105
Europe
Total
Beginning balance	320,599
2024 Acquisitions	12,911
2023 Acquisitions purchase accounting adjustments	0
Effect of net foreign currency exchange rate changes	(6,543)
Ending balance	$ 326,967

GOODWILL (Goodwill Accumulated

GOODWILL (Goodwill Accumulated Impairment Losses) (Details) - USD ($)	Jun. 30, 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	Jun. 30, 2024	Dec. 31, 2023
Financial Assets:
Total assets measured at fair value on a recurring basis	$ 2,957	$ 10,416
Financial Liabilities:
Contingent consideration liabilities	30,385	23,150
Total liabilities measured at fair value on a recurring basis	31,419	23,398
Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	2,957	10,416
Financial Liabilities:
Foreign exchange derivative liabilities	1,034	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	2,957	10,416
Financial Liabilities:
Contingent consideration liabilities	0	0
Total liabilities measured at fair value on a recurring basis	1,034	248
Level 2 | Foreign Exchange Derivative Contracts
Financial Assets:
Foreign exchange derivative assets	2,957	10,416
Financial Liabilities:
Foreign exchange derivative liabilities	1,034	248
Level 3
Financial Assets:
Total assets measured at fair value on a recurring basis	0	0
Financial Liabilities:
Contingent consideration liabilities	30,385	23,150
Total liabilities measured at fair value on a recurring basis	30,385	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	Jun. 30, 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	6 Months Ended
	Jun. 30, 2024 USD ($)
Amount
Beginning balance	$ 23,150
Ending balance	30,385
Interest and other income, net
Amount
Acquisition date fair value of contingent consideration — 2024 Acquisitions	9,756
Changes in fair value of contingent consideration included in Interest and other income, net	2,536
Payment of contingent consideration for previously acquired businesses	(5,000)
Effect of foreign currency exchange rate changes, net	$ (57)

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	6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Balance
Financial Assets:
Cash equivalents		$ 269,509	$ 273,330
Financial Liabilities:
Deferred consideration for asset acquisition	$ 46,954	46,448
Balance | Time deposits
Financial Assets:
Time deposits included in Short-term investments		60,414	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		31,829	168,120
Balance | Time deposits
Financial Assets:
Cash equivalents		237,680	105,210
Estimated Fair Value
Financial Assets:
Cash equivalents		269,509	273,330
Financial Liabilities:
Deferred consideration for asset acquisition	46,954	46,448
Estimated Fair Value | Time deposits
Financial Assets:
Time deposits included in Short-term investments		60,414	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		31,829	168,120
Estimated Fair Value | Time deposits
Financial Assets:
Cash equivalents		237,680	105,210
Estimated Fair Value | Level 1
Financial Assets:
Cash equivalents		31,829	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		31,829	168,120
Estimated Fair Value | Level 1 | Time deposits
Financial Assets:
Cash equivalents		0	0
Estimated Fair Value | Level 2
Financial Assets:
Cash equivalents		237,680	105,210
Financial Liabilities:
Deferred consideration for asset acquisition	46,954	46,448
Estimated Fair Value | Level 2 | Time deposits
Financial Assets:
Time deposits included in Short-term investments		60,414	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		237,680	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	Jun. 30, 2024	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Carrying amount of equity securities that do not have readily determinable fair values	$ 38.6	$ 31.7

DERIVATIVE FINANCIAL INSTRUME_3

DERIVATIVE FINANCIAL INSTRUMENTS (Fair Value of Derivative Instruments) (Details) - Foreign Exchange Derivative Contracts - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Financial collateral required to be posted	$ 0
Cash flow Hedging | Designated as Hedging Instruments
Derivatives, Fair Value [Line Items]
Asset Derivatives	2,957,000	$ 10,416,000
Liability Derivatives	$ 1,034,000	$ 248,000

LEASES (Narrative) (Details)

LEASES (Narrative) (Details) $ in Millions	Jun. 30, 2024 USD ($)
Lessee, Lease, Description [Line Items]
Commitments related to operating lease agreements that have not yet commenced	$ 3.4
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term	1 month 6 days
Lease term of lease agreements that have not yet commenced	3 months 18 days
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term	7 years 7 months 6 days
Lease term of lease agreements that have not yet commenced	5 years 1 month 6 days

LEASES (Components of Lease Cos

LEASES (Components of Lease Cost) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Total lease cost	$ 14,219	$ 16,293	$ 28,660	$ 33,780
Selling, general and administrative expenses
Lessee, Lease, Description [Line Items]
Operating lease cost	10,833	11,950	21,686	23,133
Variable lease cost	2,439	3,388	5,068	7,036
Short-term lease cost	$ 947	$ 955	$ 1,906	$ 3,611

LEASES (Supplemental Cash Flow

LEASES (Supplemental Cash Flow Information) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$ 10,922	$ 13,526	$ 22,625	$ 25,245
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	3,333	3,679	10,986	7,028
Non-cash net increase due to lease modifications:
Operating lease right-of-use assets	940	4,508	6,239	5,891
Operating lease liabilities	$ 941	$ 5,026	$ 6,131	$ 6,140

LEASES (Weighted Average Lease

LEASES (Weighted Average Lease Terms and Discount Rates) (Details)	Jun. 30, 2024	Jun. 30, 2023
Weighted average remaining lease term, in years:
Operating leases	4 years 8 months 12 days	5 years 2 months 12 days
Weighted average discount rate:
Operating leases	4.30%	3.80%

LEASES (Maturity of Operating L

LEASES (Maturity of Operating Lease Liabilities) (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
2024 (excluding six months ended June 30, 2024)	$ 21,779
2025	37,314
2026	31,803
2027	23,105
2028	19,150
Thereafter	20,691
Total lease payments	153,842
Less: imputed interest	(13,359)
Total	$ 140,483

DEBT (Details)

DEBT (Details) - Revolving Credit Facility - Line of Credit	Oct. 21, 2021 USD ($)	Jun. 30, 2024 USD ($)	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	Jun. 30, 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	Jun. 30, 2024 USD ($)
2024 Cost Optimization Program
Subsequent Event [Line Items]
Expected cost remaining	$ 20

COST OPTIMIZATION PROGRAM (Acti

COST OPTIMIZATION PROGRAM (Activity in Restructuring Reserves) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023	$ 6,966
Charges	16,530
Payments Made	(19,672)
Balance at June 30, 2024	3,824
Employee separation costs | 2024 Cost Optimization Program
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023	0
Charges	7,229
Payments Made	(3,691)
Balance at June 30, 2024	3,538
Employee separation costs | 2023 Cost Optimization Program
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023	6,966
Charges	9,015
Payments Made	(15,981)
Balance at June 30, 2024	0
Contract termination charges | 2024 Cost Optimization Program
Restructuring Reserve [Roll Forward]
Balance at December 31, 2023	0
Charges	286
Payments Made	0
Balance at June 30, 2024	$ 286

REVENUES (Schedule of Disaggreg

REVENUES (Schedule of Disaggregation of Revenues) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenues	$ 1,146,597	$ 1,170,206	$ 2,312,062	$ 2,381,147
Revenues from performance obligations satisfied in previous period	10,400	3,500	15,400	5,600
Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	1,141,430	1,166,309	2,302,469	2,373,564
Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	5,167	3,897	9,593	7,583
Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	943,621	1,028,020	1,925,147	2,102,999
Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	195,651	135,353	371,975	265,858
Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	7,325	6,833	14,940	12,290
Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues	252,327	273,459	511,457	551,819
Financial Services
Disaggregation of Revenue [Line Items]
Revenues	244,369	258,968	487,105	529,633
Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	168,822	175,218	342,254	364,409
Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	165,762	189,684	336,080	392,064
Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	140,084	114,441	280,293	225,699
Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	175,233	158,436	354,873	317,523
Americas
Disaggregation of Revenue [Line Items]
Revenues	691,199	679,087	1,384,119	1,388,889
EMEA
Disaggregation of Revenue [Line Items]
Revenues	431,321	459,085	880,568	923,022
APAC
Disaggregation of Revenue [Line Items]
Revenues	24,077	24,219	47,375	51,029
CEE
Disaggregation of Revenue [Line Items]
Revenues	0	7,815	0	18,207
North America
Disaggregation of Revenue [Line Items]
Revenues	698,629	680,071	1,403,358	1,390,028
North America | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	695,853	676,637	1,396,237	1,383,671
North America | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	2,776	3,434	7,121	6,357
North America | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	592,045	606,766	1,197,741	1,251,394
North America | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	102,328	67,273	194,363	128,504
North America | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	4,256	6,032	11,254	10,130
North America | Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues	113,999	120,038	231,690	243,697
North America | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	123,369	135,178	247,661	279,028
North America | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	128,261	135,755	261,455	285,553
North America | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	110,789	106,357	217,481	222,515
North America | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	120,607	99,966	242,324	196,563
North America | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	101,604	82,777	202,747	162,672
North America | Americas
Disaggregation of Revenue [Line Items]
Revenues	665,178	653,601	1,333,360	1,337,154
North America | EMEA
Disaggregation of Revenue [Line Items]
Revenues	32,717	25,629	68,541	51,001
North America | APAC
Disaggregation of Revenue [Line Items]
Revenues	734	649	1,457	1,375
North America | CEE
Disaggregation of Revenue [Line Items]
Revenues	0	192	0	498
Europe
Disaggregation of Revenue [Line Items]
Revenues	447,968	483,442	908,704	976,589
Europe | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues	445,577	482,999	906,232	975,396
Europe | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues	2,391	443	2,472	1,193
Europe | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues	351,576	416,194	727,406	841,792
Europe | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues	93,323	66,468	177,612	132,671
Europe | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues	3,069	780	3,686	2,126
Europe | Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues	138,328	151,639	279,767	304,694
Europe | Financial Services
Disaggregation of Revenue [Line Items]
Revenues	121,000	120,361	239,444	243,969
Europe | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues	40,561	38,910	80,799	77,592
Europe | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues	54,973	83,260	118,599	169,368
Europe | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues	19,477	14,454	37,969	28,980
Europe | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues	73,629	74,818	152,126	151,986
Europe | Americas
Disaggregation of Revenue [Line Items]
Revenues	26,021	25,150	50,759	51,104
Europe | EMEA
Disaggregation of Revenue [Line Items]
Revenues	398,604	433,456	812,027	872,021
Europe | APAC
Disaggregation of Revenue [Line Items]
Revenues	23,343	23,570	45,918	49,654
Europe | CEE
Disaggregation of Revenue [Line Items]
Revenues	0	1,266	0	3,810
Russia
Disaggregation of Revenue [Line Items]
Revenues	$ 0	6,693	$ 0	14,530
Russia | Transferred over time
Disaggregation of Revenue [Line Items]
Revenues		6,673		14,497
Russia | Transferred at a point of time
Disaggregation of Revenue [Line Items]
Revenues		20		33
Russia | Time-and-material
Disaggregation of Revenue [Line Items]
Revenues		5,060		9,813
Russia | Fixed-price
Disaggregation of Revenue [Line Items]
Revenues		1,612		4,683
Russia | Licensing and other revenues
Disaggregation of Revenue [Line Items]
Revenues		21		34
Russia | Consumer Goods, Retail & Travel
Disaggregation of Revenue [Line Items]
Revenues		1,782		3,428
Russia | Financial Services
Disaggregation of Revenue [Line Items]
Revenues		3,429		6,636
Russia | Software & Hi-Tech
Disaggregation of Revenue [Line Items]
Revenues		553		1,264
Russia | Business Information & Media
Disaggregation of Revenue [Line Items]
Revenues		67		181
Russia | Life Sciences & Healthcare
Disaggregation of Revenue [Line Items]
Revenues		21		156
Russia | Emerging Verticals
Disaggregation of Revenue [Line Items]
Revenues		841		2,865
Russia | Americas
Disaggregation of Revenue [Line Items]
Revenues		336		631
Russia | EMEA
Disaggregation of Revenue [Line Items]
Revenues		0		0
Russia | APAC
Disaggregation of Revenue [Line Items]
Revenues		0		0
Russia | CEE
Disaggregation of Revenue [Line Items]
Revenues		$ 6,357		$ 13,899

REVENUES (Schedule of Timing of

REVENUES (Schedule of Timing of Revenue Recognition) (Details) - Fixed-price $ in Thousands	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 30,828
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Estimated revenues expected to be recognized in the future	$ 29,658
Revenue, remaining performance obligation, expected timing of satisfaction, period	6 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	$ 1,141
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	$ 29
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Change in Contract with Customer, Liability [Abstract]
Revenue recognized	$ 5,300	$ 5,000	$ 17,400	$ 24,200
Trade receivables and contract assets, net
Change in Contract with Customer, Liability [Abstract]
Contract assets	51,027		51,027		$ 24,309
Accrued expenses and other current liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	31,811		31,811		27,988
Other noncurrent liabilities
Change in Contract with Customer, Liability [Abstract]
Contract liabilities	$ 243		$ 243		$ 951

STOCKHOLDERS_ EQUITY (Schedule

STOCKHOLDERS’ EQUITY (Schedule of Components of Stock-Based Compensation Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 35,684	$ 33,110	$ 80,475	$ 71,689
Cost of revenues (exclusive of depreciation and amortization)
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	16,937	15,416	39,294	31,427
Selling, general and administrative expenses
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Stock-based compensation expense	$ 18,747	$ 17,694	$ 41,181	$ 40,262

STOCKHOLDERS_ EQUITY (Schedul_2

STOCKHOLDERS’ EQUITY (Schedule of Stock Option Activity) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2024
Number of Options
Beginning balance (in shares)	1,629
Options granted (in shares)	81
Options exercised (in shares)	(392)
Options forfeited (in shares)	(7)
Options expired (in shares)	(2)
Ending balance (in shares)	1,309
Options vested and exercisable number of options (in shares)	1,065
Options expected to vest number of options (in shares)	231
Weighted Average Exercise Price
Options outstanding at beginning of period (in usd per share)	$ 125.88
Options granted (in usd per share)	296.87
Options exercised (in usd per share)	42.37
Options forfeited (in usd per share)	279.30
Options expired (in usd per share)	416.96
Options outstanding at end of period (in usd per share)	160.17
Options vested and exercisable weighted average price (in dollars per share)	127.51
Options expected to vest weighted average price (in dollars per share)	$ 302.61
Aggregate Intrinsic Value
Options outstanding, beginning of period	$ 86,552
Options vested and exercisable, aggregate intrinsic value	86,552
Options expected to vest, aggregate intrinsic value	$ 0
Weighted Average Remaining Contractual Term (in years)
Options outstanding, weighted average remaining contractual term	4 years 1 month 6 days
Options vested and exercisable, weighted average remaining contractual term	3 years
Expected to vest, weighted average remaining contractual term	8 years 7 months 6 days

STOCKHOLDERS_ EQUITY (Stock Opt

STOCKHOLDERS’ EQUITY (Stock Option Additional Information) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost	$ 25.7
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average remaining requisite service period	2 years 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	6 Months Ended
	Jun. 30, 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	523
Awards modified (in shares) | shares	1
Awards vested (in shares) | shares	(327)
Awards forfeited/cancelled (in shares) | shares	(48)
Unvested awards outstanding at period end (in shares) | shares	1,223
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	291.61
Awards modified (in usd per share) | $ / shares	366.27
Awards vested (in usd per share) | $ / shares	286.86
Awards forfeited/cancelled (in usd per share) | $ / shares	300.90
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 293.30
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	(39)
Awards forfeited/cancelled (in shares) | shares	(1)
Unvested awards outstanding at period end (in shares) | shares	91
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	298.60
Awards modified (in usd per share) | $ / shares	114.30
Awards vested (in usd per share) | $ / shares	271.72
Awards forfeited/cancelled (in usd per share) | $ / shares	289.89
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 299.54
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	38
Awards vested (in shares) | shares	(3)
Awards forfeited/cancelled (in shares) | shares	(1)
Unvested awards outstanding at period end (in shares) | shares	47
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	327.31
Awards vested (in usd per share) | $ / shares	560.97
Awards forfeited/cancelled (in usd per share) | $ / shares	594.50
Unvested awards outstanding at period end (in usd per share) | $ / shares	$ 333.56

STOCKHOLDERS_ EQUITY (Restricte

STOCKHOLDERS’ EQUITY (Restricted Stock and Restricted Stock Units Additional Information) (Details) - USD ($) shares in Thousands			3 Months Ended			6 Months Ended
	Aug. 01, 2024	Feb. 13, 2023	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 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
Subsequent Event
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						$ 15,000,000
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Remaining unrecognized stock-based compensation cost			$ 3,200,000			$ 3,200,000
Weighted-average remaining requisite service period						3 months 18 days
Offering period						6 months
ESPP purchase price of common stock, percent of market price						85%
Shares issued in period (in shares)			85		77	85	77
Stock based compensation expense			$ 2,500,000		$ 3,400,000	$ 5,100,000	$ 6,500,000
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			282,100,000			$ 282,100,000
Weighted-average remaining requisite service period						2 years 9 months 18 days
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			14,900,000			$ 14,900,000
Weighted-average remaining requisite service period						2 years 7 months 6 days
Liability associated with RSUs			500,000			$ 500,000		$ 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			$ 8,200,000			$ 8,200,000
Weighted-average remaining requisite service period						2 years
Performance Based Awards | Equity Classified Award | Restricted Stock Units | Equity-Settled Award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards vesting period				3 years
Awards not considered granted (in shares)						32

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective tax rate	26.30%	20%	16.50%	19.80%
Excess tax benefit	$ 0.1	$ 7.4	$ 20.8	$ 13.4
One-time tax benefit	0.1		$ 2.3
Tax effect of disposal of business	$ 1.2

EARNINGS PER SHARE (Details)

EARNINGS PER SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator for basic and diluted earnings per share:
Net income	$ 98,645	$ 116,243	$ 120,033	$ 102,292	$ 214,888	$ 222,325
Numerator for basic earnings per share	98,645		120,033		214,888	222,325
Numerator for diluted earnings per share	$ 98,645		$ 120,033		$ 214,888	$ 222,325
Denominator:
Weighted average common shares for basic earnings per share (in shares)	57,594		57,993		57,716	57,848
Net effect of dilutive stock options, restricted stock units, restricted stock awards and stock issuable under the ESPP (in shares)	555		1,188		824	1,392
Weighted average common shares for diluted earnings per share (in shares)	58,149		59,181		58,540	59,240
Net income per share:
Basic (in usd per share)	$ 1.71		$ 2.07		$ 3.72	$ 3.84
Diluted (in usd per share)	$ 1.70		$ 2.03		$ 3.67	$ 3.75
Anti-dilutive options not included in the calculation (in shares)	1,379		519		871	389

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Building Acquisition Commitments) (Details) - USD ($)			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2023	Jun. 30, 2024	Mar. 04, 2022
Other Commitments [Line Items]
Term			4 years
Deferred consideration	$ 49,700,000		$ 49,700,000
Deferred consideration in 2024	16,600,000		16,600,000
Deferred consideration in 2025	16,600,000		16,600,000
Deferred consideration in 2026	16,500,000		16,500,000
Cloud Services
Other Commitments [Line Items]
Contractual term		5 years
Total commitment amount	69,100,000	$ 75,000,000
Contractual commitment (in percentage)		20%
Humanitarian Commitment
Other Commitments [Line Items]
Commitment	$ 31,800,000		$ 31,800,000
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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenues	$ 1,146,597	$ 1,170,206	$ 2,312,062	$ 2,381,147
Total segment operating profit	120,561	144,346	231,093	264,717
Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	177,376	193,718	358,559	373,448
North America
Segment Reporting Information [Line Items]
Revenues	698,629	680,071	1,403,358	1,390,028
North America | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	122,838	131,660	243,502	254,491
Europe
Segment Reporting Information [Line Items]
Revenues	447,968	483,442	908,704	976,589
Europe | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	54,538	64,801	115,057	124,705
Russia
Segment Reporting Information [Line Items]
Revenues	0	6,693	0	14,530
Russia | Operating Segments
Segment Reporting Information [Line Items]
Total segment operating profit	$ 0	$ (2,743)	$ 0	$ (5,748)

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		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating profit:	$ 120,561	$ 144,346	$ 231,093	$ 264,717
Stock-based compensation expense	(35,684)	(33,110)	(80,475)	(71,689)
Interest and other income, net	12,036	11,710	27,078	23,231
Foreign exchange gain/(loss)	1,213	(6,010)	(706)	(10,618)
Income before provision for income taxes	133,810	150,046	257,465	277,330
Operating Segments
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Total segment operating profit:	177,376	193,718	358,559	373,448
Unallocated Amounts
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Stock-based compensation expense	(35,684)	(33,110)	(80,475)	(71,689)
Amortization of intangibles assets	(5,821)	(5,483)	(11,770)	(11,020)
Other acquisition-related expenses	(456)	(1,340)	(1,679)	(1,581)
Other unallocated expenses	$ (14,854)	$ (9,439)	$ (33,542)	$ (24,441)

SEGMENT INFORMATION (Physical L

SEGMENT INFORMATION (Physical Location and Values of Long-Lived Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 210,378	$ 235,053
Ukraine
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	59,792	62,653
Belarus
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	47,377	49,875
United States
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	37,070	42,510
India
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	13,166	12,735
Poland
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	12,396	15,057
Hungary
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	5,171	6,683
Other
Long-Lived Assets by Geographical Areas [Line Items]
Long-lived assets	$ 35,406	$ 45,540

SEGMENT INFORMATION (Revenues b

SEGMENT INFORMATION (Revenues by Customer Location) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 1,146,597	$ 1,170,206	$ 2,312,062	$ 2,381,147
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	662,567	649,622	1,329,715	1,329,059
United Kingdom
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	127,822	152,481	263,723	307,808
Switzerland
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	101,310	89,497	199,754	179,358
Germany
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	49,561	45,028	100,023	87,763
Netherlands
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	45,091	58,408	96,761	117,508
Canada
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	21,113	26,485	43,733	54,317
Russia
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	0	5,872	0	11,745
Other locations
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues	$ 139,133	$ 142,813	$ 278,353	$ 293,589

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	$ 3,475,685	$ 3,130,442	$ 3,471,470	$ 3,003,010
Other comprehensive (loss)/income	(8,071)	5,875	(30,383)	23,236
Balance, end of period	3,397,959	3,263,340	3,397,959	3,263,340
Accumulated other comprehensive loss
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(61,352)	(77,960)	(39,040)	(95,321)
Balance, end of period	(69,423)	(72,085)	(69,423)	(72,085)
Foreign currency translation
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(62,313)	(88,553)	(43,601)	(101,780)
Unrealized (loss)/ gain in fair value	(7,790)	7,761	(31,291)	24,061
Income tax benefit/(expense)	2,141	(366)	6,930	(3,439)
Other comprehensive (loss)/income	(5,649)	7,395	(24,361)	20,622
Balance, end of period	(67,962)	(81,158)	(67,962)	(81,158)
Cash flow hedging instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	4,037	12,440	7,819	8,306
Unrealized (loss)/ gain in fair value	(882)	7,938	(3,389)	15,833
Net gain reclassified into Cost of revenues (exclusive of depreciation and amortization)	(2,444)	(9,904)	(4,855)	(12,484)
Net loss reclassified into Foreign exchange loss	0	0	0	33
Income tax benefit/(expense)	768	446	1,904	(768)
Other comprehensive (loss)/income	(2,558)	(1,520)	(6,340)	2,614
Balance, end of period	1,479	10,920	1,479	10,920
Defined benefit plans
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning of period	(3,076)	(1,847)	(3,258)	(1,847)
Income tax benefit/(expense)	5	0	5	0
Other comprehensive (loss)/income	136	0	318	0
Actuarial gains	131	0	313	0
Balance, end of period	$ (2,940)	$ (1,847)	$ (2,940)	$ (1,847)

SUBSEQUENT EVENT (Details)

SUBSEQUENT EVENT (Details) - USD ($)	Aug. 01, 2024	Feb. 13, 2023
Subsequent Event [Line Items]
Authorized repurchase program, amount		$ 500,000,000
Share repurchase program term		24 months
Subsequent Event
Subsequent Event [Line Items]
Authorized repurchase program, amount	$ 500,000,000
Share repurchase program term	24 months