Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 28, 2013 | |
Document Information [Line Items] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Trading Symbol | 'G | ' |
Entity Registrant Name | 'GENPACT LTD | ' |
Entity Central Index Key | '0001398659 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 230,183,725 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets | ' | ' |
Cash and cash equivalents | $481,498 | $459,228 |
Accounts receivable, net | 476,997 | 451,960 |
Accounts receivable from related party, net | 63 | 29 |
Short term deposits | 17,505 | 18,292 |
Deferred tax assets | 61,654 | 48,489 |
Prepaid expenses and other current assets | 179,402 | 150,769 |
Total current assets | 1,217,119 | 1,128,767 |
Property, plant and equipment, net | 168,374 | 200,362 |
Deferred tax assets | 102,878 | 91,383 |
Investment in equity affiliates | 349 | 416 |
Intangible assets, net | 106,932 | 112,387 |
Goodwill | 950,424 | 956,064 |
Other assets | 98,059 | 116,548 |
Total assets | 2,644,135 | 2,605,927 |
Current liabilities | ' | ' |
Short-term borrowings | ' | 80,000 |
Current portion of long-term debt | 4,256 | 4,982 |
Current portion of capital lease obligations | 1,384 | 1,301 |
Accounts payable | 15,281 | 18,652 |
Income taxes payable | 58,936 | 22,304 |
Deferred tax liabilities | 384 | 538 |
Accrued expenses and other current liabilities | 401,476 | 390,041 |
Total current liabilities | 481,717 | 517,818 |
Long-term debt, less current portion | 654,664 | 656,879 |
Capital lease obligations, less current portion | 2,736 | 2,533 |
Deferred tax liabilities | 5,539 | 6,068 |
Other liabilities | 297,955 | 250,848 |
Total liabilities | 1,442,611 | 1,434,146 |
Shareholders' equity | ' | ' |
Preferred shares, $0.01 par value, 250,000,000 authorized, none issued | ' | ' |
Common shares, $0.01 par value, 500,000,000 authorized, 225,480,172 and 230,147,557 issued and outstanding as of December 31, 2012 and September 30, 2013, respectively | 2,300 | 2,253 |
Additional paid-in capital | 1,252,122 | 1,202,448 |
Retained earnings | 462,857 | 281,982 |
Accumulated other comprehensive income (loss) | -517,791 | -318,272 |
Genpact Limited shareholders' equity | 1,199,488 | 1,168,411 |
Noncontrolling interest | 2,036 | 3,370 |
Total equity | 1,201,524 | 1,171,781 |
Commitments and contingencies | ' | ' |
Total liabilities and equity | 2,644,135 | 2,605,927 |
Customer-Related Intangible Assets | ' | ' |
Current assets | ' | ' |
Intangible assets, net | 79,250 | 84,748 |
Marketing-Related Intangible Assets | ' | ' |
Current assets | ' | ' |
Intangible assets, net | 20,628 | 21,585 |
Other Intangible Assets | ' | ' |
Current assets | ' | ' |
Intangible assets, net | $7,054 | $6,054 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Preferred shares, par value | $0.01 | $0.01 |
Preferred shares, authorized | 250,000,000 | 250,000,000 |
Preferred shares, issued | ' | ' |
Common shares, par value | $0.01 | $0.01 |
Common shares, authorized | 500,000,000 | 500,000,000 |
Common shares, issued | 230,147,557 | 225,480,172 |
Common shares, outstanding | 230,147,557 | 225,480,172 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net revenues | ' | ' | ' | ' |
Net revenues from services-others | $534,696 | $490,987 | $1,572,967 | $1,393,780 |
Net revenues from services-related party | 190 | 170 | 571 | 487 |
Total net revenues | 534,886 | 491,157 | 1,573,538 | 1,394,267 |
Cost of revenue | ' | ' | ' | ' |
Services | 329,289 | 297,253 | 973,729 | 847,940 |
Total cost of revenue | 329,289 | 297,253 | 973,729 | 847,940 |
Gross profit | 205,597 | 193,904 | 599,809 | 546,327 |
Operating expenses: | ' | ' | ' | ' |
Selling, general and administrative expenses | 117,005 | 118,536 | 348,632 | 337,794 |
Amortization of acquired intangible assets | 5,867 | 6,014 | 17,603 | 17,094 |
Other operating (income) expense, net | -3,232 | -598 | -4,320 | -2,111 |
Income from operations | 85,957 | 69,952 | 237,894 | 193,550 |
Foreign exchange (gains) losses, net | -10,817 | 13,220 | -24,619 | -5,086 |
Other income (expense), net | -3,454 | -14,932 | -19,104 | -15,755 |
Income before Equity-method investment activity, net and income tax expense | 93,320 | 41,800 | 243,409 | 182,881 |
Equity-method investment activity, net | -32 | -50 | -139 | -24 |
Income before income tax expense | 93,352 | 41,850 | 243,548 | 182,905 |
Income tax expense | 21,921 | 15,239 | 58,403 | 53,239 |
Net Income | 71,431 | 26,611 | 185,145 | 129,666 |
Net income attributable to noncontrolling interest | 1,169 | 1,436 | 4,270 | 4,851 |
Net income attributable to Genpact Limited shareholders | 70,262 | 25,175 | 180,875 | 124,815 |
Net income available to Genpact Limited common shareholders | $70,262 | $25,175 | $180,875 | $124,815 |
Earnings per common share attributable to Genpact Limited common shareholders | ' | ' | ' | ' |
Basic | $0.31 | $0.11 | $0.79 | $0.56 |
Diluted | $0.30 | $0.11 | $0.77 | $0.55 |
Weighted average number of common shares used in computing earnings per common share attributable to Genpact Limited common shareholders | ' | ' | ' | ' |
Basic | 230,057,508 | 223,876,035 | 228,840,746 | 223,289,507 |
Diluted | 236,336,924 | 230,195,834 | 235,095,660 | 228,516,391 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Net income | $71,431 | $26,611 | $185,145 | $129,666 |
Other comprehensive income: | ' | ' | ' | ' |
Net income (loss) on cash flow hedging derivatives, net of taxes (Note 7) | -33,963 | 74,027 | -63,411 | 40,786 |
Other comprehensive income (loss) | ' | ' | -199,454 | 53,036 |
Genpact Limited Shareholders | ' | ' | ' | ' |
Net income | 70,262 | 25,175 | 180,875 | 124,815 |
Other comprehensive income: | ' | ' | ' | ' |
Currency translation adjustments | -44,370 | 77,970 | -136,108 | 12,506 |
Net income (loss) on cash flow hedging derivatives, net of taxes (Note 7) | -33,963 | 74,027 | -63,411 | 40,786 |
Other comprehensive income (loss) | -78,333 | 151,997 | -199,519 | 53,292 |
Comprehensive income (loss) | -8,071 | 177,172 | -18,644 | 178,107 |
Noncontrolling Interest | ' | ' | ' | ' |
Net income | 1,169 | 1,436 | 4,270 | 4,851 |
Other comprehensive income: | ' | ' | ' | ' |
Currency translation adjustments | 31 | -157 | 65 | -256 |
Other comprehensive income (loss) | 31 | -157 | 65 | -256 |
Comprehensive income (loss) | $1,200 | $1,279 | $4,335 | $4,595 |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Common shares | Additional Paid- in Capital | Retained Earnings | Accumulated Other Comprehensive Income (loss) | Non controlling interest |
In Thousands, except Share data, unless otherwise specified | ||||||
Beginning balance, value at Dec. 31, 2011 | $1,435,683 | $2,222 | $1,146,203 | $605,386 | ($320,753) | $2,625 |
Beginning balance, value (in shares) at Dec. 31, 2011 | ' | 222,347,968 | ' | ' | ' | ' |
Issuance of common shares on exercise of options (Note 11) (in shares) | ' | 1,461,981 | ' | ' | ' | ' |
Issuance of common shares on exercise of options (Note 11) | 18,746 | 15 | 18,731 | ' | ' | ' |
Issuance of common shares under the employee stock purchase plan (Note 11) (in shares) | ' | 63,106 | ' | ' | ' | ' |
Issuance of common shares under the employee stock purchase plan (Note 11) | 938 | 1 | 937 | ' | ' | ' |
Net settlement on vesting of restricted share units (Note 11) (in shares) | ' | 243,696 | ' | ' | ' | ' |
Net settlement on vesting of restricted share units (Note 11) | -1,746 | 2 | -1,748 | ' | ' | ' |
Distribution to noncontrolling interest | -3,961 | ' | ' | ' | ' | -3,961 |
Stock-based compensation expense (Note 11) | 22,856 | ' | 22,856 | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 129,666 | ' | ' | 124,815 | ' | 4,851 |
Other comprehensive income (loss) | 53,036 | ' | ' | ' | 53,292 | -256 |
Dividend (Note 21) | -501,620 | ' | ' | -501,620 | ' | ' |
End balance, value at Sep. 30, 2012 | 1,153,598 | 2,240 | 1,186,979 | 228,581 | -267,461 | 3,259 |
End balance, value (in shares) at Sep. 30, 2012 | ' | 224,116,751 | ' | ' | ' | ' |
Beginning balance, value at Jun. 30, 2012 | ' | ' | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 26,611 | ' | ' | ' | ' | 1,436 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | -157 |
End balance, value at Sep. 30, 2012 | 1,153,598 | ' | ' | ' | ' | 3,259 |
Beginning balance, value at Dec. 31, 2012 | 1,171,781 | 2,253 | 1,202,448 | 281,982 | -318,272 | 3,370 |
Beginning balance, value (in shares) at Dec. 31, 2012 | 225,480,172 | 225,480,172 | ' | ' | ' | ' |
Issuance of common shares on exercise of options (Note 11) (in shares) | 3,784,851 | 3,784,851 | ' | ' | ' | ' |
Issuance of common shares on exercise of options (Note 11) | 34,017 | 38 | 33,979 | ' | ' | ' |
Issuance of common shares under the employee stock purchase plan (Note 11) (in shares) | ' | 81,040 | ' | ' | ' | ' |
Issuance of common shares under the employee stock purchase plan (Note 11) | 1,372 | 1 | 1,371 | ' | ' | ' |
Net settlement on vesting of restricted share units (Note 11) (in shares) | ' | 305,382 | ' | ' | ' | ' |
Net settlement on vesting of restricted share units (Note 11) | -2,535 | 3 | -2,538 | ' | ' | ' |
Net settlement on vesting of performance units (Note 11) (in shares) | ' | 496,112 | ' | ' | ' | ' |
Net settlement on vesting of performance units (Note 11) | -5,064 | 5 | -5,069 | ' | ' | ' |
Disposition of noncontrolling interest | -1,055 | ' | ' | ' | ' | -1,055 |
Distribution to noncontrolling interest | -4,614 | ' | ' | ' | ' | -4,614 |
Stock-based compensation expense (Note 11) | 21,931 | ' | 21,931 | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 185,145 | ' | ' | 180,875 | ' | 4,270 |
Other comprehensive income (loss) | -199,454 | ' | ' | ' | -199,519 | 65 |
End balance, value at Sep. 30, 2013 | 1,201,524 | 2,300 | 1,252,122 | 462,857 | -517,791 | 2,036 |
End balance, value (in shares) at Sep. 30, 2013 | 230,147,557 | 230,147,557 | ' | ' | ' | ' |
Beginning balance, value at Jun. 30, 2013 | ' | ' | ' | ' | ' | ' |
Comprehensive income: | ' | ' | ' | ' | ' | ' |
Net income | 71,431 | ' | ' | ' | ' | 1,169 |
Other comprehensive income (loss) | ' | ' | ' | ' | ' | 31 |
End balance, value at Sep. 30, 2013 | $1,201,524 | ' | ' | ' | ' | $2,036 |
End balance, value (in shares) at Sep. 30, 2013 | 230,147,557 | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Operating activities | ' | ' |
Net income attributable to Genpact Limited shareholders | $180,875 | $124,815 |
Net income attributable to noncontrolling interest | 4,270 | 4,851 |
Net income | 185,145 | 129,666 |
Adjustments to reconcile net income to net cash provided by (used for) operating activities: | ' | ' |
Depreciation and amortization | 40,270 | 41,609 |
Amortization of debt issue costs (including loss on extinguishment of debt) | 5,215 | 7,468 |
Amortization of acquired intangible assets | 17,603 | 17,149 |
Reserve for doubtful receivables | 8,919 | 2,780 |
Reserve for mortgage loans | ' | 107 |
Unrealized (gain) loss on revaluation of foreign currency asset/liability | -5,646 | -1,307 |
Equity-method investment activity, net | -139 | -24 |
Stock-based compensation expense | 21,931 | 22,856 |
Deferred income taxes | 4,194 | -9,297 |
Others, net | 5,872 | 2,287 |
Change in operating assets and liabilities: | ' | ' |
Increase in accounts receivable | -30,613 | -45,209 |
Increase in other assets | -35,014 | -64,645 |
Decrease in accounts payable | -797 | -3,876 |
Increase (Decrease) in accrued expenses and other current liabilities | -24,601 | 29,994 |
Increase in income taxes payable | 37,103 | 45,688 |
Increase in other liabilities | 3,775 | 34,226 |
Net cash provided by operating activities | 233,217 | 209,472 |
Investing activities | ' | ' |
Purchase of property, plant and equipment | -37,061 | -60,141 |
Proceeds from sale of property, plant and equipment | 2,996 | 374 |
Investment in affiliates | ' | -205 |
Short term deposits placed | -55,259 | -25,638 |
Redemption of short term deposits | 51,955 | 25,638 |
Payment for business acquisitions, net of cash acquired | -49,235 | -53,931 |
Proceeds from divestiture of business, net of cash divested (refer note 3C(a)) | -1,049 | ' |
Net cash used for investing activities | -87,653 | -113,903 |
Financing activities | ' | ' |
Repayment of capital lease obligations | -1,284 | -1,684 |
Proceeds from long-term debt | 121,410 | 675,000 |
Repayment of long-term debt | -121,410 | -105,000 |
Proceeds from Short-term borrowings | 35,000 | 80,000 |
Repayment of Short-term borrowings | -115,000 | -252,350 |
Proceeds from issuance of common shares under stock-based compensation plans | 35,389 | 19,684 |
Payment for net settlement of stock-based awards | -7,599 | -1,746 |
Payment of earn-out consideration | -3,868 | -587 |
Cost incurred in relation to Debt amendment and refinancing | -8,104 | -14,438 |
Distribution to noncontrolling interest | -4,614 | -3,961 |
Dividend paid | ' | -501,620 |
Net cash used for financing activities | -70,080 | -106,702 |
Effect of exchange rate changes | -53,214 | -2,384 |
Net increase (decrease) in cash and cash equivalents | 75,484 | -11,133 |
Cash and cash equivalents at the beginning of the period | 459,228 | 408,020 |
Cash and cash equivalents at the end of the period | 481,498 | 394,503 |
Supplementary information | ' | ' |
Cash paid during the period for interest | 25,484 | 5,785 |
Cash paid during the period for income taxes | 52,805 | 65,708 |
Property, plant and equipment acquired under capital lease obligation | $1,933 | $1,955 |
Organization
Organization | 9 Months Ended |
Sep. 30, 2013 | |
Organization | ' |
1. Organization | |
Nature of Operations | |
The Company is a global leader in transforming and running business processes and operations, including those that are complex and industry-specific. The Company’s mission is to help clients become more competitive by making their enterprises more intelligent through becoming more adaptive, innovative, globally effective and connected to their own clients. Genpact stands for Generating Impact – visible in better management of risk, regulations, costs and growth for hundreds of long-term clients, including more than 100 of the Fortune Global 500. The Company’s approach is distinctive – it offers an unbiased, agile combination of smarter processes, crystallized in its Smart Enterprise Processes (SEPSM) proprietary framework, along with analytics and technology, which limits upfront investments and enhances future adaptability. The Company has 60,000+ employees in 24 countries with key management and corporate offices in New York City. Behind the Company’s single-minded passion for process and operational excellence is the Lean and Six Sigma heritage of a former General Electric division that has served GE businesses for more than 15 years. | |
Prior to December 30, 2004, the business of the Company was conducted through various entities and divisions of the General Electric Company (“GE”). On December 30, 2004, in a series of transactions referred to as the “2004 Reorganization,” GE transferred such operations to the Company. In August 2007, the Company completed an initial public offering of its common shares, pursuant to which the Company and certain of its existing shareholders each sold 17,647,059 common shares. On March 24, 2010, the Company completed a secondary offering of its common shares pursuant to which GE’s shareholding in the Company decreased to 9.1% and it ceased to be a significant shareholder, although it continued to be a related party. During the year ended December 31, 2012, GE’s shareholding subsequently declined to less than 5.0%, as a result of which GE is no longer considered a related party. | |
On December 14, 2012, a secondary offering of the Company’s common shares by General Atlantic (“GA”) and Oak Hill Capital Partners (“OH”) was completed. Upon the completion of the secondary offering, GA and OH each owned approximately 2.4% of the Company’s common shares outstanding, and they ceased to be significant shareholders and related parties. | |
2012 Recapitalization | |
On August 1, 2012, the Company announced that Glory Investments A Limited, formerly known as South Asia Private Investments and an affiliate of Bain Capital Investors, LLC (“Bain Capital”), had entered into an agreement to purchase approximately 67,750,678 common shares of the Company from affiliates of GA and OH for $14.76 per share, or approximately $1,000,000, after payment by the Company of a special cash dividend of $2.24 per share. The special cash dividend was declared by the Company’s board of directors on August 30, 2012, and paid on September 24, 2012 to holders of record as of September 10, 2012. On October 25, 2012, Bain Capital and its affiliated assignees completed the purchase of 57,537,264 common shares of the Company. As permitted under the share purchase agreement, two additional co-investors (RGIP, LLC, an investor in certain investment funds which are affiliated with Bain Capital, and Twickenham Investment Private Limited, an affiliate of the Government of Singapore Investment Corporation Private Limited) purchased the remaining 50,812 shares and 10,162,602 shares of the Company, respectively, covered by the share purchase agreement. | |
On August 30, 2012, the Company terminated its previous credit facility of $380,000 and entered into a new credit facility of $925,000, to repay the previous credit facility, fund a portion of the special cash dividend, pay fees and expenses in connection with the foregoing and to provide for general corporate purposes of the Company, including working capital requirements. Net proceeds from the credit facility along with cash on hand were partially used to fund the dividend payment of $2.24 per share, or $501,620 in the aggregate, which was paid on all issued and outstanding common shares. In accordance with the terms of the Company’s stock-based compensation plans, in order to preserve the value of stock-based awards outstanding as of the record date, the Company reduced the exercise price per share of each outstanding stock option award and increased the number of shares in relation to all outstanding stock-based awards as of the record date of the special cash dividend. This transaction, together with other related transactions, is referred to as the “2012 Recapitalization.” In June 2013, the Company amended its credit facility with a consortium of financial institutions as described in Note 14. | |
The Company incurred expenses of approximately $23,464 for the 2012 Recapitalization excluding the fees associated with the previous credit facility and the new credit facility. Out of the total expenses of $23,464, $6,237 was incurred and recorded as a part of “selling, general and administrative expenses” in the Consolidated Statements of Income for the year ended December 31, 2012. The balance of the total expenses of approximately $17,227 relating to the share purchase transaction were incurred and accrued as of December 31, 2012 and reported as a part of “other income (expense), net” in the Consolidated Statements of Income for the year ended December 31, 2012. GA and OH, collectively, reimbursed $17,000 of the $17,227 to the Company on October 25, 2012 at the closing of the share purchase transaction in accordance with the letter agreement among the Company, GA and OH. This reimbursement was recorded as a part of “other income (expense), net” in the Consolidated Statements of Income for the year ended December 31, 2012. | |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Summary of Significant Accounting Policies | ' | ||||
2. Summary of significant accounting policies | |||||
(a) Basis of preparation and principles of consolidation | |||||
The unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and the rules and regulations of the Securities and Exchange Commission for reporting on Form 10-Q. Accordingly, they do not include certain information and note disclosures required by generally accepted accounting principles for annual financial reporting and should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |||||
The unaudited interim consolidated financial statements reflect all adjustments that management considers necessary for a fair presentation of the results of operations for these periods. The results of operations for the interim periods are not necessarily indicative of the results for the full year. | |||||
The accompanying unaudited interim consolidated financial statements have been prepared on a consolidated basis and reflect the financial statements of Genpact Limited and all of its subsidiaries that are more than 50% owned and controlled. When the Company does not have a controlling interest in an entity, but exerts a significant influence on the entity, the Company applies the equity method of accounting. All intercompany transactions and balances are eliminated in consolidation. | |||||
The noncontrolling interest disclosed in the accompanying unaudited interim consolidated financial statements represents the noncontrolling partners’ interest in the operation of Genpact Netherlands B.V. and the noncontrolling shareholders’ interest in the operation of Hello Communications (Shanghai) Co., Ltd. and the profits or losses associated with the noncontrolling interest in those operations. The noncontrolling partners of Genpact Netherlands B.V. are individually liable for the tax obligations on their shares of profit as it is a partnership and, accordingly, noncontrolling interest relating to Genpact Netherlands B.V. has been computed prior to tax and disclosed accordingly in the unaudited interim Consolidated Statements of Income. | |||||
(b) Use of estimates | |||||
The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant items subject to such estimates and assumptions include the useful lives of property, plant and equipment, the carrying amount of property, plant and equipment, intangibles and goodwill, the reserve for doubtful receivables, the valuation allowance for deferred tax assets, the valuation of derivative financial instruments, the measurements of stock-based compensation, assets and obligations related to employee benefits, income tax uncertainties and other contingencies. Management believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Although these estimates are based upon management’s knowledge of current events and actions, actual results could differ from these estimates. Any changes in estimates are adjusted prospectively in the consolidated financial statements. | |||||
(c) Business combinations, goodwill and other intangible assets | |||||
The Company accounts for its business combinations by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any noncontrolling interest in the acquired business, measured at their acquisition date fair values. Contingent consideration is included within the acquisition cost and is recognized at its fair value on the acquisition date. A liability resulting from contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Changes in fair value are recognized in earnings. All assets and liabilities of the acquired businesses, including goodwill, are assigned to reporting units. Acquisition related costs are expensed as incurred under Selling, General and Administrative Expenses. | |||||
Goodwill represents the cost of acquired businesses in excess of the fair value of identifiable tangible and intangible net assets purchased. Goodwill is not amortized but is tested for impairment at least on an annual basis on December 31, based on a number of factors including operating results, business plans and future cash flows. The Company performs an assessment of qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the assessment of events or circumstances, the Company performs the quantitative assessment of goodwill impairment if it determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If based on the quantitative impairment analysis the carrying value of the goodwill of the reporting unit exceeds the fair value of that goodwill, an impairment loss is recognized in an amount equal to the excess. In addition, the Company performs the qualitative assessment of Goodwill impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. See note 9 for information and related disclosures. | |||||
Intangible assets acquired individually or with a group of other assets or in a business combination are carried at cost less accumulated amortization based on their estimated useful lives as follows: | |||||
Customer-related intangible assets | 1-14 years | ||||
Marketing-related intangible assets | 1-10 years | ||||
Contract-related intangible assets | 1 year | ||||
Other intangible assets | 3-9 years | ||||
Intangible assets are amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. | |||||
In business combinations, where the fair value of identifiable tangible and intangible net assets purchased exceeds the cost of the acquired business, the Company recognizes the resulting gain under “Other operating (income) expense, net” in the Consolidated Statements of Income. | |||||
(d) Financial instruments and concentration of credit risk | |||||
Financial instruments that potentially subject the Company to concentration of credit risk are reflected principally in cash and cash equivalents, short term deposits, derivative financial instruments and accounts receivable. The Company places its cash and cash equivalents and derivative financial instruments with corporations and banks with high investment grade ratings, limits the amount of credit exposure with any one corporation or bank and conducts ongoing evaluations of the creditworthiness of the corporations and banks with which it does business. To reduce its credit risk on accounts receivable, the Company conducts ongoing credit evaluations of its clients. GE accounted for 30% and 27% of receivables as of December 31, 2012 and September 30, 2013, respectively. GE accounted for 26% and 23% of revenues for the nine months ended September 30, 2012 and 2013, respectively, and for 26% and 22% of revenues for the three months ended September 30, 2012 and 2013, respectively. | |||||
(e) Recently adopted accounting pronouncements | |||||
The authoritative bodies release standards and guidance which are assessed by management for impact on the Company’s consolidated financial statements. | |||||
The following recently released accounting standard has been adopted by the Company and certain disclosures in the consolidated financial statements and notes to the consolidated financial statements have been modified accordingly. Adoption of this standard did not have a material impact on the consolidated results of operations, cash flows, financial position or disclosures: | |||||
• | Effective January 1, 2013, the Company adopted FASB ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). ASU 2013-02 amended existing guidance by requiring additional disclosure either on the face of the income statement or in the notes to the financial statements of significant amounts reclassified out of accumulated other comprehensive income. ASU 2013-02 requires prospective adoption and affects financial statement disclosure only. | ||||
(f) Reclassification | |||||
Certain reclassifications have been made in the consolidated financial statements of prior periods to conform to the classification used in the current period. The impact of such reclassifications on the consolidated financial statements is not material. | |||||
Business_Acquisitions_and_Dive
Business Acquisitions and Divestitures | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Business Acquisitions and Divestitures | ' | ||||||||
3. Business acquisitions and divestitures | |||||||||
A. Acquisitions | |||||||||
(a) Third Pillar Systems, Inc. | |||||||||
On August 30, 2013, the Company acquired certain assets, including contracts, and assumed certain liabilities of Third Pillar Systems, Inc., a Nevada corporation (“Third Pillar”) for cash consideration of $2,500. As a part of the transaction, the Company also hired employees of Third Pillar. With this transaction, the Company has acquired an integrated set of processes and assets capable of independently providing returns to the Company. Third Pillar is a provider of software solutions for the commercial lending and leasing industry. There are no contingent consideration arrangements in connection with the acquisition. Of the cash consideration of $2,500, the Company has held back $225 in accordance with the terms of the asset purchase agreement. | |||||||||
This acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The following table summarizes the allocation of purchase price based on the fair value of assets acquired and liabilities assumed as of the acquisition date: | |||||||||
Cash consideration | $ | 2,500 | |||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Current assets | $ | 375 | |||||||
Intangible assets | 298 | ||||||||
Other non-current assets | 24 | ||||||||
Current liabilities | (200 | ) | |||||||
Total identifiable net assets acquired | $ | 497 | |||||||
Goodwill | 2,003 | ||||||||
Total | $ | 2,500 | |||||||
Through this transaction, the Company has acquired an end to end platform and processes to supplement its commercial lending and leasing portfolio, thereby strengthening the Company’s service offerings in this industry. Goodwill representing the excess of the purchase consideration over the net assets acquired is deductible for tax purposes and has been allocated to the India reporting unit. The above technology related intangible asset has an estimated useful life of 8 years. | |||||||||
(b) NGEN Media Services Private Limited | |||||||||
On March 28, 2013, the Company acquired the remaining 50% of the outstanding equity interest in NGEN Media Services Private Limited, a private limited company organized under the laws of India (“NGEN”), and thereby increased its interest from 50% to 100%, providing the Company control over NGEN as a wholly owned subsidiary. NGEN is engaged in the business of media services outsourcing. | |||||||||
The Company acquired the remaining 50% equity interest for cash consideration of $158. There are no contingent consideration arrangements in connection with the acquisition. The Company previously accounted for its 50% interest in NGEN as an equity method investment. The Company remeasured this equity interest to fair value at the acquisition date and recognized a loss of $5 in the Consolidated Statements of Income under “equity-method investment activity, net.” | |||||||||
The following table summarizes the consideration paid to acquire NGEN and the fair value of assets acquired and liabilities assumed as of the acquisition date, as well as the fair value of the Company’s existing investment in NGEN as of the acquisition date: | |||||||||
Cash consideration | $ | 158 | |||||||
Acquisition date fair value of the Company’s investment in NGEN held before the business combination | 158 | ||||||||
Total | $ | 316 | |||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 432 | |||||||
Current assets | 402 | ||||||||
Tangible fixed assets | 27 | ||||||||
Other non-current assets | 89 | ||||||||
Current liabilities | (337 | ) | |||||||
Other liabilities | (274 | ) | |||||||
Total identifiable net assets acquired | $ | 339 | |||||||
Gain recognized on acquisition | (23 | ) | |||||||
Total | $ | 316 | |||||||
(c) Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | |||||||||
On February 6, 2013, the Company acquired 100% of the outstanding membership interest in Jawood Business Process Solutions, LLC, a Michigan limited liability company (“Jawood”) for cash consideration of $51,000, subject to adjustment based on closing date net working capital, indebtedness and cash and cash equivalents. There are no contingent consideration arrangements in connection with the acquisition. | |||||||||
The transaction also included the acquisition of 100% of the outstanding shares of Felix Software Solutions Private Limited, a company organized under the laws of India (“Felix”), for cash consideration of $2,295, subject to adjustment based on closing date net working capital. There are no contingent consideration arrangements in connection with the acquisition of Felix. | |||||||||
Jawood and Felix (collectively referred to as the “Jawood business”) are, respectively, U.S. and India based providers of business consulting and information technology services to the healthcare payer industry. Felix is a key sub-contractor to Jawood. This transaction strengthens the Company’s solutions and services offerings in the healthcare payer market. | |||||||||
Pursuant to the terms of the acquisition agreements with the respective sellers, the purchase consideration for the Jawood business is comprised of the following: | |||||||||
Base purchase price | $ | 53,295 | |||||||
Closing date net working capital adjustment | (3,821 | ) | |||||||
Closing date indebtedness adjustment | (2,202 | ) | |||||||
Closing date cash adjustment | 1,304 | ||||||||
Seller expenses | (1,379 | ) | |||||||
Total purchase price | $ | 47,197 | |||||||
During the period ended September 30, 2013, the Company recorded a measurement period adjustment that resulted in a decrease in the purchase consideration by $1,089 with a corresponding change in goodwill. The measurement period adjustment did not have a significant impact on the Company’s consolidated statements of income, balance sheets or cash flows in any period and, thus, were recorded during the period ended September 30, 2013. The total amount paid by the Company to acquire the Jawood business, net of cash acquired of $1,364 and including seller expenses amounting to $1,379, was $47,212. | |||||||||
The acquisition of the Jawood business has been accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The assets and liabilities of the Jawood business are recorded at fair value as of the date of acquisition. The following table summarizes the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed as of the date of acquisition including measurement period adjustments: | |||||||||
Purchase price | $ | 47,197 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 310 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 1,364 | |||||||
Current assets | 6,477 | ||||||||
Tangible fixed assets | 704 | ||||||||
Intangible assets | 11,200 | ||||||||
Other non-current assets | 548 | ||||||||
Current liabilities | (7,866 | ) | |||||||
Long term liabilities | (56 | ) | |||||||
Total identifiable net assets acquired | $ | 12,371 | |||||||
Goodwill | 34,826 | ||||||||
Total | $ | 47,197 | |||||||
Goodwill representing the excess of the purchase price over the net assets acquired has been allocated to the India reporting unit and is deductible for tax purposes to the extent of $32,656. The amortizable intangible assets are being amortized over their estimated useful lives using a method of amortization that reflects the expected pattern in which the economic benefits of the intangible assets will be consumed or otherwise realized. The value and estimated useful lives of the intangible assets are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangible assets | $ | 10,200 | 1 – 7 years | ||||||
Marketing related intangible assets | 1,000 | 1 – 5 years | |||||||
The weighted average amortization period in respect of the acquired intangible assets is 6 years. | |||||||||
The results of operations of the Jawood business and the fair value of its assets and liabilities have been included in the Company’s Consolidated Financial Statements with effect from February 6, 2013, the date of acquisition. | |||||||||
(d) Atyati Technologies Private Limited | |||||||||
On September 4, 2012, the Company acquired 100% of the outstanding common and preferred stock of Atyati Technologies Private Limited, an Indian private limited company (“Atyati”), a cloud-hosted technology platform provider for the rural banking sector in India. This acquisition gives the Company a platform-based banking solution for the rural and semi-rural consumer market. | |||||||||
The Company acquired Atyati for initial cash consideration of $19,368, subject to adjustment based on closing date final working capital. The acquisition agreement also provided for additional deferred consideration which had a discounted value of $2,539 and earn-out consideration (ranging from $0 to $14,372 based on gross profit for the year ending March 31, 2014) which had an estimated fair value of $1,487. | |||||||||
Pursuant to the terms of the acquisition agreement with the sellers, the purchase consideration is comprised of the following: | |||||||||
Cash consideration | $ | 19,368 | |||||||
Acquisition date discounted value of deferred consideration | 2,539 | ||||||||
Acquisition date fair value of earn-out consideration | 1,487 | ||||||||
Working capital adjustment | — | ||||||||
Total purchase price | $ | 23,394 | |||||||
During the period ended June 30, 2013, the Company recorded a measurement period adjustment which resulted in a decrease in the deferred tax asset of $827, an increase in other non-current assets of $194 and an increase in goodwill of $633. The measurement period adjustment did not have a significant impact on the Company’s consolidated statements of income, balance sheets or cash flows in any period and, thus, were recorded during the period ended June 30, 2013. | |||||||||
The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The assets and liabilities of Atyati were recorded at fair value as of the date of acquisition. The following table summarizes the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed as of the date of acquisition including measurement period adjustments: | |||||||||
Purchase price | $ | 23,394 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 164 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 2,000 | |||||||
Current assets | 5,265 | ||||||||
Tangible fixed assets | 426 | ||||||||
Intangible assets | 8,767 | ||||||||
Deferred tax asset/ (liability), net | (2,557 | ) | |||||||
Other non-current assets | 369 | ||||||||
Current liabilities | (3,424 | ) | |||||||
Short term borrowings | (654 | ) | |||||||
Other liabilities | (737 | ) | |||||||
Total identifiable net assets acquired | $ | 9,455 | |||||||
Goodwill | 13,939 | ||||||||
Total | $ | 23,394 | |||||||
Goodwill recorded in connection with the Atyati acquisition amounted to $13,939, representing the excess of the purchase price over the net assets (including deferred taxes) acquired, has been allocated to the India reporting unit and is not deductible for tax purposes. The amortizable intangible assets are being amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. | |||||||||
The value and estimated useful lives of the intangibles are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangibles | $ | 5,408 | 4 – 9 years | ||||||
Other intangibles | 3,359 | 7 years | |||||||
The weighted average amortization period in respect of the acquired intangible assets is 7 years. The results of operations of Atyati and the fair value of its assets and liabilities have been included in the Company’s Consolidated Financial Statements with effect from September 4, 2012, the date of acquisition. | |||||||||
(e) Triumph Engineering, Corp. and Triumph On-Demand, Inc. | |||||||||
On August 17, 2012, the Company acquired 100% of the outstanding equity interest in Triumph Engineering, Corp. and Triumph On-Demand Inc., both Ohio corporations (collectively the “Triumph Companies”). The Triumph Companies are U.S. based providers of engineering services to the aviation, energy, and oil and gas industries. This acquisition provides the Company with capabilities in the engineering services space. | |||||||||
The Company acquired the Triumph Companies for initial cash consideration of $3,600, subject to adjustment based on working capital and closing indebtedness. The acquisition agreement provided for additional deferred consideration which had a discounted value of $379, and earn-out consideration (ranging from $0 to $4,500 based on gross profit for the years ending December 31, 2013 and 2014) which had an estimated fair value of $3,256. | |||||||||
Pursuant to the terms of the acquisition agreement with the seller, the purchase consideration is comprised of the following: | |||||||||
Cash consideration | $ | 3,600 | |||||||
Acquisition date fair value of deferred consideration | 379 | ||||||||
Acquisition date fair value of earn-out consideration | 3,256 | ||||||||
Working capital adjustment | (848 | ) | |||||||
Closing indebtedness adjustment | (941 | ) | |||||||
Total purchase price | $ | 5,446 | |||||||
During the period ended June 30, 2013, the Company recorded a measurement period adjustment which resulted in a decrease in the purchase consideration of $13 with a corresponding change in goodwill. | |||||||||
The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The assets and liabilities of the Triumph Companies were recorded at fair value as of the date of acquisition. The following table summarizes the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed as of the date of acquisition: | |||||||||
Purchase price | $ | 5,446 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 134 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 312 | |||||||
Current assets | 1,708 | ||||||||
Tangible fixed assets | 175 | ||||||||
Intangible assets | 382 | ||||||||
Deferred tax asset/ (liability), net | (565 | ) | |||||||
Current liabilities | (720 | ) | |||||||
Short term borrowing | (350 | ) | |||||||
Total identifiable net assets acquired | $ | 942 | |||||||
Goodwill | 4,504 | ||||||||
Total | $ | 5,446 | |||||||
Goodwill recorded in connection with the acquisition of the Triumph Companies amounted to $4,504, representing the excess of the purchase price over the net assets (including deferred taxes) acquired, has been allocated to the India reporting unit and is not deductible for tax purposes. The amortizable intangible assets are being amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. The value and estimated useful lives of the intangibles are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangibles | $ | 382 | 1 to 10 years | ||||||
The weighted average amortization period in respect of the acquired intangible assets is 8 years. The results of operations of the Triumph Companies and the fair value of the assets and liabilities are included in the Company’s Consolidated Financial Statements with effect from August 17, 2012, the date of acquisition. | |||||||||
(f) Accounting Plaza B.V. | |||||||||
On April 25, 2012, the Company acquired 100% of the outstanding equity interest in Accounting Plaza B.V., a private limited liability company organized under the laws of the Netherlands (“Accounting Plaza”). Accounting Plaza is a provider of finance and accounting, human resources and PeopleSoft ERP services. This acquisition strengthens the Company’s domain expertise in the retail industry and significantly expands its presence in Europe. | |||||||||
The Company acquired Accounting Plaza for cash consideration of $38,698 subject to adjustments based on the transfer of pension funds, underfunding in pension funds, and sellers’ warranty breaches including certain other transactions and transaction costs. There are no contingent consideration arrangements in connection with the acquisition. | |||||||||
Pursuant to the terms of the acquisition agreement with the sellers, the purchase consideration is comprised of the following: | |||||||||
Base consideration | $ | 38,698 | |||||||
Adjustment for transfer of pension funds | — | ||||||||
Adjustment for underfunding in pension funds | — | ||||||||
Adjustment for sellers warranty breaches and certain other transactions | — | ||||||||
Adjustment for transaction costs | — | ||||||||
Purchase consideration | $ | 38,698 | |||||||
During the period ended March 31, 2013, the Company recorded a measurement period adjustment which resulted in a $107 increase in the purchase consideration with a corresponding increase in goodwill. The measurement period adjustment did not have a significant impact on the Company’s consolidated statements of income, balance sheets or cash flows in any period and, thus, were recorded during the period ended March 31, 2013. | |||||||||
The acquisition has been accounted for under the acquisition method of accounting in accordance with ASC 805, Business Combinations. The assets and liabilities of Accounting Plaza were recorded at fair value as of the date of acquisition. The following table summarizes the allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed as of the date of acquisition including measurement period adjustments: | |||||||||
Purchase consideration | $ | 38,698 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 434 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 1,664 | |||||||
Current assets | 11,327 | ||||||||
Tangible fixed assets | 2,010 | ||||||||
Intangible assets | 13,138 | ||||||||
Deferred tax asset/ (liability), net | (2,711 | ) | |||||||
Other non-current assets | 971 | ||||||||
Current liabilities | (9,062 | ) | |||||||
Other liabilities | (4,188 | ) | |||||||
Total identifiable net assets acquired | $ | 13,149 | |||||||
Goodwill | 25,549 | ||||||||
Total | $ | 38,698 | |||||||
The fair value of the current assets acquired included trade receivables with a fair value of $9,744. The gross amount due was $9,917, of which $173 was expected to be uncollectable. | |||||||||
Goodwill representing the excess of the purchase price over the fair value of the net assets (including deferred taxes) acquired is not deductible for tax purposes and has been allocated to the Europe reporting unit. | |||||||||
The amortizable intangible assets acquired are being amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. The value and estimated useful life of the intangible asset are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangible | $ | 13,138 | 3 – 10 years | ||||||
The weighted average amortization period in respect of the acquired intangible assets is 7 years. The results of operations of Accounting Plaza and the fair value of the assets and liabilities have been included in the Company’s Consolidated Financial Statements with effect from April 25, 2012, the date of acquisition. | |||||||||
B. Earn-out consideration and deferred consideration | |||||||||
The Company acquired Akritiv Technologies, Inc. (“Akritiv”), High Performance Partners, LLC (“HPP”), Empower Research, LLC (“Empower”), Atyati and the Triumph Companies on March 14, 2011, August 24, 2011, October 3, 2011, September 4, 2012 and August 17, 2012, respectively. The terms of the acquisition agreements for these business acquisitions provided for payment of additional earn-out consideration if certain future events or conditions are met. These earn-outs were recorded as liabilities based on their fair values as of the acquisition dates. The Company evaluates the fair value of earn-out consideration for the respective acquisitions for changes at each reporting period. As of September 30, 2013, the Company re-measured the fair value of such earn-out consideration with corresponding changes in the Consolidated Statements of Income as follows: | |||||||||
Decrease in fair value of earn-out consideration for Empower | $ | (145 | ) | ||||||
Decrease in fair value of earn-out consideration for Triumph Companies | (2,150 | ) | |||||||
Decrease in fair value of earn-out consideration for Atyati | (1,794 | ) | |||||||
Decrease in fair value of earn-out consideration for HPP | (363 | ) | |||||||
$ | (4,452 | ) | |||||||
Further, during the period ended September 30, 2013, the Company paid earn-out consideration of $85, $3,274 and $1,499 for HPP, Akritiv and Empower, respectively, due to the fulfillment of certain earn-out conditions set forth in the acquisition agreements. Additionally, during the period ended September 30, 2013, the Company paid deferred consideration of $811 to the Empower sellers pursuant to the terms of the acquisition agreement. | |||||||||
C. Divestitures | |||||||||
(a) Hello Communications (Shanghai) Co., Ltd. | |||||||||
On February 22, 2013, the Company completed the divestiture of Hello Communications (Shanghai) Co., Ltd., a subsidiary engaged in the business of providing offshore tele-sales and other voice-based support services to telecom carriers and IT/telecom equipment manufacturers in Asia, for cash consideration of $998 resulting in loss of $447. The expected loss on the sale was recorded within other income (expense), net in the Consolidated Statements of Income for the year ended December 31, 2012 and was not materially different from the actual realized loss. The balance of cash and cash equivalents of Hello Communications (Shanghai) Co., Ltd. on the date of sale was $2,047, resulting in a net cash outflow of $1,049. The results of operations of Hello Communications (Shanghai) Co., Ltd. are not material to the Company’s results of operations or financial condition and, therefore, are not reflected as discontinued operations for the periods presented. | |||||||||
(b) Clearbizz B.V. | |||||||||
On September 13, 2013, the Company completed the divestiture of Clearbizz, B.V., a subsidiary engaged in the business of providing electronic invoicing services in the Netherlands for cash consideration of $1 resulting in a loss of $1,184, which was recorded within other income (expense), net in the Consolidated Statements of Income. The results of operations of Clearbizz B.V. are not material to the Company’s results of operations or financial condition and, therefore, are not reflected as discontinued operations for the periods presented. | |||||||||
(c) Gantthead.com, Inc. | |||||||||
During the period ended June 30, 2013, the Company decided to divest or discontinue Gantthead.com, Inc., a subsidiary engaged in the business of operating an online technology portal for project management. An amount of $2,336 has been reserved within other income (expense), net in the Consolidated Statements of Income representing an estimated loss on the expected divestiture of Gantthead.com, Inc. The results of operations of Gantthead.com, Inc. are not material to the Company’s results of operations or financial condition and, therefore, are not reflected as discontinued operations for the periods presented. | |||||||||
Cash_and_Cash_Equivalents
Cash and Cash Equivalents | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Cash and Cash Equivalents | ' | ||||||||
4. Cash and cash equivalents | |||||||||
Cash and cash equivalents as of December 31, 2012 and September 30, 2013 comprise: | |||||||||
As of December 31, 2012 | As of September 30, 2013 | ||||||||
Deposits with banks | $ | 283,660 | $ | 245,909 | |||||
Other cash and bank balances | 175,568 | 235,589 | |||||||
Total | $ | 459,228 | $ | 481,498 | |||||
Cash and cash equivalents as of December 31, 2012 and September 30, 2013 include restricted cash balances of $628 and $874, respectively. Restrictions primarily consist of margin balances against bank guarantees and deposits for foreign currency advances on which the bank has created a lien. |
Accounts_Receivable_Net_of_Res
Accounts Receivable, Net of Reserve for Doubtful Receivables | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accounts Receivable, Net of Reserve for Doubtful Receivables | ' | ||||||||
5. Accounts receivable, net of reserve for doubtful receivables | |||||||||
The following table provides details of the reserve for doubtful receivables recorded by the Company: | |||||||||
As of December 31, | As of September 30, | ||||||||
2012 | 2013 | ||||||||
Opening balance as of January 1 | $ | 8,704 | $ | 9,073 | |||||
Additions due to acquisitions | 184 | — | |||||||
Additions charged to cost and expense | 3,878 | 8,919 | |||||||
Deductions | (3,693 | ) | (3,473 | ) | |||||
Closing balance | $ | 9,073 | $ | 14,519 | |||||
Accounts receivable were $461,062 and $491,579 and the reserves for doubtful receivables were $9,073 and $14,519, resulting in net accounts receivable balances of $451,989 and $477,060 as of December 31, 2012 and September 30, 2013, respectively. In addition, accounts receivable due after one year of $19,140 and $17,006 as of December 31, 2012 and September 30, 2013, respectively, are included under other assets in the Consolidated Balance Sheets. | |||||||||
Accounts receivable from related parties were $64 and $63, and the reserve for doubtful receivables was $35 and $0, resulting in net accounts receivable balances of $29 and $63, as of December 31, 2012 and September 30, 2013, respectively. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
6. Fair Value Measurements | |||||||||||||||||
The Company measures certain financial assets and liabilities, including derivative instruments, at fair value on a recurring basis. The fair value measurements of these derivative instruments were determined using the following inputs as of December 31, 2012 and September 30, 2013: | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in Active | Significant Other | Significant Other | |||||||||||||||
Markets for Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets | |||||||||||||||||
Derivative Instruments (Note a) | $ | 10,645 | $ | — | $ | 10,645 | $ | — | |||||||||
Total | $ | 10,645 | $ | — | $ | 10,645 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Derivative Instruments (Note b) | $ | 174,076 | $ | — | $ | 174,076 | $ | — | |||||||||
Total | $ | 174,076 | $ | — | $ | 174,076 | $ | — | |||||||||
As of September 30, 2013 | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in Active | Significant Other | Significant Other | |||||||||||||||
Markets for Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets | |||||||||||||||||
Derivative Instruments (Note a) | $ | 6,768 | $ | — | $ | 6,768 | $ | — | |||||||||
Total | $ | 6,768 | $ | — | $ | 6,768 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Derivative Instruments (Note b) | $ | 277,459 | $ | — | $ | 277,459 | $ | — | |||||||||
Total | $ | 277,459 | $ | — | $ | 277,459 | $ | — | |||||||||
(a) | Included in prepaid expenses and other current assets and other assets in the consolidated balance sheets. | ||||||||||||||||
(b) | Included in accrued expenses and other current liabilities and other liabilities in the consolidated balance sheets. | ||||||||||||||||
The following table sets forth the reconciliation of loans held for sale that were outstanding as of September 30, 2012 but settled during the year ended December 31, 2012, which were measured at fair value using significant unobservable inputs: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||
Opening balance, net | $ | 360 | $ | 469 | |||||||||||||
Impact of fair value included in earnings | — | (108 | ) | ||||||||||||||
Settlements | — | (1 | ) | ||||||||||||||
Closing balance, net | $ | 360 | $ | 360 | |||||||||||||
The Company values its derivative instruments based on market observable inputs including both forward and spot prices for respective currencies. The quotes are taken from an independent market database. | |||||||||||||||||
Derivative_Financial_Instrumen
Derivative Financial Instruments | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivative Financial Instruments | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
7. Derivative financial instruments | |||||||||||||||||||||||||||||||||||||||||||||||||
The Company is exposed to the risk of rate fluctuations on foreign currency assets and liabilities, and foreign currency denominated forecasted cash flows. The Company has established risk management policies, including the use of derivative financial instruments, to hedge foreign currency assets and liabilities and foreign currency denominated forecasted cash flows. These derivative financial instruments are largely deliverable and non-deliverable forward foreign exchange contracts. The Company enters into these contracts with counterparties which are banks or other financial institutions, and the Company considers the risk of non-performance by the counterparties not to be material. The forward foreign exchange contracts mature between zero and fifty-one months and the forecasted transactions are expected to occur during the same period. | |||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the aggregate notional principal amounts of outstanding derivative financial instruments together with the related balance sheet exposure: | |||||||||||||||||||||||||||||||||||||||||||||||||
Notional principal amounts | Balance sheet exposure asset | ||||||||||||||||||||||||||||||||||||||||||||||||
(Note a) | (liability) (Note b) | ||||||||||||||||||||||||||||||||||||||||||||||||
As of | As of | As of | As of | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts denominated in: | |||||||||||||||||||||||||||||||||||||||||||||||||
United States Dollars (sell) Indian Rupees (buy) | $ | 1,706,000 | $ | 1,472,000 | $ | (160,432 | ) | $ | (269,392 | ) | |||||||||||||||||||||||||||||||||||||||
United States Dollars (sell) Mexican Peso (buy) | 8,400 | 12,300 | 306 | (422 | ) | ||||||||||||||||||||||||||||||||||||||||||||
United States Dollars (sell) Philippines Peso (buy) | 58,800 | 56,850 | 2,237 | (1,723 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Euro (sell) United States Dollars (buy) | 79,501 | 45,134 | (420 | ) | (1,836 | ) | |||||||||||||||||||||||||||||||||||||||||||
Euro (sell) Hungarian Forints (buy) | 9,968 | 5,598 | (10 | ) | 51 | ||||||||||||||||||||||||||||||||||||||||||||
Euro (sell) Romanian Leu (buy) | 64,870 | 63,689 | (645 | ) | 1,433 | ||||||||||||||||||||||||||||||||||||||||||||
Japanese Yen (sell) Chinese Renminbi (buy) | 26,214 | 29,573 | 1,451 | 2,046 | |||||||||||||||||||||||||||||||||||||||||||||
Pound Sterling (sell) United States Dollars (buy) | 92,165 | 74,149 | (2,494 | ) | (2,791 | ) | |||||||||||||||||||||||||||||||||||||||||||
Australian Dollars (sell) United States Dollars (buy) | 60,626 | 59,450 | (3,424 | ) | 1,943 | ||||||||||||||||||||||||||||||||||||||||||||
$ | (163,431 | ) | $ | (270,691 | ) | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Notional amounts are key elements of derivative financial instrument agreements but do not represent the amount exchanged by counterparties and do not measure the Company’s exposure to credit or market risks. However, the amounts exchanged are based on the notional amounts and other provisions of the underlying derivative financial instruments agreements. | ||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Balance sheet exposure is denominated in U.S. Dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date. | ||||||||||||||||||||||||||||||||||||||||||||||||
FASB guidance on Derivatives and Hedging requires companies to recognize all derivative instruments as either assets or liabilities at fair value in the statement of financial position. In accordance with the FASB guidance on Derivatives and Hedging, the Company designates foreign exchange forward contracts as cash flow hedges for forecasted revenues and the purchase of services. In addition to this program, the Company has derivative instruments that are not accounted for as hedges under the FASB guidance in order to hedge the foreign exchange risks related to balance sheet items such as receivables and inter-company borrowings denominated in currencies other than the underlying functional currency. | |||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of the derivative instruments and their location in the Company’s financial statements are summarized in the table below: | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flow hedges | Non-designated | ||||||||||||||||||||||||||||||||||||||||||||||||
As of | As of | As of | As of | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 6,972 | $ | 4,790 | $ | 1,742 | $ | 318 | |||||||||||||||||||||||||||||||||||||||||
Other assets | $ | 1,931 | $ | 1,660 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Accrued expenses and other current liabilities | $ | 60,229 | $ | 99,486 | $ | 1,417 | $ | 11,402 | |||||||||||||||||||||||||||||||||||||||||
Other liabilities | $ | 112,430 | $ | 166,571 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Cash flow hedges | |||||||||||||||||||||||||||||||||||||||||||||||||
For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of the gain (loss) on the derivative instrument is reported as a component of other comprehensive income (loss) and reclassified into earnings in the same period or periods during which the hedged transaction is recognized in the consolidated statements of income. Gains (losses) on the derivatives representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in earnings as incurred. | |||||||||||||||||||||||||||||||||||||||||||||||||
In connection with cash flow hedges, the gains (losses) recorded as a component of other comprehensive income (loss), or OCI, and the related tax affect are summarized below: | |||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Three months ended September 30, 2013 | Nine months ended September 30, 2012 | Nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Before- | Tax | Net of | Before- | Tax | Net of | Before- | Tax | Net of | Before- | Tax | Net of tax | ||||||||||||||||||||||||||||||||||||||
Tax | (Expense) | tax | Tax | (Expense) | tax | Tax | (Expense) | tax | Tax | (Expense) | Amount | ||||||||||||||||||||||||||||||||||||||
amount | or Benefit | Amount | amount | or | Amount | amount | or | Amount | amount | or | |||||||||||||||||||||||||||||||||||||||
Benefit | Benefit | Benefit | |||||||||||||||||||||||||||||||||||||||||||||||
Opening balance | $ | (255,562 | ) | $ | 90,440 | $ | (165,122 | ) | $ | (207,373 | ) | $ | 73,239 | $ | (134,134 | ) | $ | (203,006 | ) | $ | 71,125 | $ | (131,881 | ) | $ | (163,756 | ) | $ | 59,070 | $ | (104,686 | ) | |||||||||||||||||
Net gains (losses) reclassified into statement of income on completion of hedged transactions | (15,813 | ) | 5,390 | (10,423 | ) | (23,185 | ) | 8,759 | (14,426 | ) | (22,654 | ) | 7,643 | (15,011 | ) | (44,070 | ) | 17,061 | (27,009 | ) | |||||||||||||||||||||||||||||
Changes in fair value of effective portion of outstanding derivatives, net | 99,280 | (35,676 | ) | 63,604 | (75,420 | ) | 27,031 | (48,389 | ) | 39,883 | (14,108 | ) | 25,775 | (139,922 | ) | 49,502 | (90,420 | ) | |||||||||||||||||||||||||||||||
Gain (loss) on cash flow hedging derivatives, net | 115,093 | (41,066 | ) | 74,027 | (52,235 | ) | 18,272 | (33,963 | ) | 62,537 | (21,751 | ) | 40,786 | (95,852 | ) | 32,441 | (63,411 | ) | |||||||||||||||||||||||||||||||
Closing balance as of September 30 | $ | (140,469 | ) | $ | 49,374 | $ | (91,095 | ) | $ | (259,608 | ) | $ | 91,511 | $ | (168,097 | ) | $ | (140,469 | ) | $ | 49,374 | $ | (91,095 | ) | $ | (259,608 | ) | $ | 91,511 | $ | (168,097 | ) | |||||||||||||||||
The gains or losses recognized in other comprehensive income (loss) and their effect on financial performance are summarized below:- | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | Amount of Gain | Location of | Amount of Gain (Loss) reclassified from OCI into | Location of | Amount of Gain (Loss) recognized in income on | ||||||||||||||||||||||||||||||||||||||||||||
in Cash | (Loss) recognized in | Gain (Loss) | Statement of Income (Effective Portion) | Gain (Loss) | Derivative (Ineffective Portion and | ||||||||||||||||||||||||||||||||||||||||||||
Flow | OCI on Derivatives | reclassified | recognized in | Amount excluded from Effectiveness Testing) | |||||||||||||||||||||||||||||||||||||||||||||
Hedging | (Effective Portion) | from OCI into | Income on | ||||||||||||||||||||||||||||||||||||||||||||||
Relationships | Statement of | Derivatives | |||||||||||||||||||||||||||||||||||||||||||||||
Income | (Ineffective | ||||||||||||||||||||||||||||||||||||||||||||||||
(Effective | Portion and | ||||||||||||||||||||||||||||||||||||||||||||||||
Portion) | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||
excluded | |||||||||||||||||||||||||||||||||||||||||||||||||
from | |||||||||||||||||||||||||||||||||||||||||||||||||
Effectiveness | |||||||||||||||||||||||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||||||||||||||||||||||
Nine months | Three months | Nine months | Three months | Nine months | |||||||||||||||||||||||||||||||||||||||||||||
ended September 30, | ended September 30, | ended September 30, | ended September 30, | ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Forward foreign exchange contracts | $ | 39,883 | $ | (139,922 | ) | Revenue | $ | (1,144 | ) | $ | 2,590 | $ | (3,587 | ) | $ | 5,957 | Foreign exchange (gains) losses, net | $ | — | $ | — | — | — | ||||||||||||||||||||||||||
Cost of revenue | (11,614 | ) | (20,801 | ) | (15,025 | ) | (40,417 | ) | |||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | (3,055 | ) | (4,974 | ) | (4,042 | ) | (9,610 | ) | |||||||||||||||||||||||||||||||||||||||||
$ | 39,883 | $ | (139,922 | ) | $ | (15,813 | ) | $ | (23,185 | ) | $ | (22,654 | ) | $ | (44,070 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Non designated Hedges | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives not designated | Location of (Gain) Loss | Amount of (Gain) Loss recognized in Statement of | |||||||||||||||||||||||||||||||||||||||||||||||
as hedging instruments | recognized in Statement of Income on | Income on Derivatives | |||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | Three months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Forward foreign exchange contracts (Note a) | Foreign exchange (gains) losses, net | $ | (10,588 | ) | $ | 11,359 | $ | (9,002 | ) | $ | 20,944 | ||||||||||||||||||||||||||||||||||||||
$ | (10,588 | ) | $ | 11,359 | $ | (9,002 | ) | $ | 20,944 | ||||||||||||||||||||||||||||||||||||||||
(a) | These forward foreign exchange contracts were entered into to hedge the fluctuations in foreign exchange rates for recognized balance sheet items such as receivables and inter-company borrowings, and were not originally designated as hedges under FASB guidance on derivatives and hedging. Realized (gains) losses and changes in the fair value of these derivatives are recorded in foreign exchange (gains) losses, net in the consolidated statements of income. |
Property_Plant_and_Equipment_N
Property, Plant and Equipment, Net | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property, Plant and Equipment, Net | ' | ||||||||
8. Property, plant and equipment, net | |||||||||
Property, plant and equipment, net consist of the following: | |||||||||
As of December 31, | As of September 30, | ||||||||
2012 | 2013 | ||||||||
Property, plant and equipment, gross | $ | 513,540 | $ | 486,112 | |||||
Less: Accumulated depreciation and amortization | (313,178 | ) | (317,738 | ) | |||||
Property, plant and equipment, net | $ | 200,362 | $ | 168,374 | |||||
Depreciation expense on property, plant and equipment for the nine months ended September 30, 2012 and 2013 was $33,754, and $35,164, respectively, and for the three months ended September 30, 2012 and 2013 was $11,332 and $11,747, respectively. The amount of computer software amortization for the nine months ended September 30, 2012 and 2013 was $8,840, and $7,541, respectively, and for the three months ended September 30, 2012 and 2013 was $2,881 and $2,438, respectively. | |||||||||
The above depreciation and amortization expense includes the effect of reclassification of foreign exchange (gains) losses related to the effective portion of foreign currency derivative contracts amounting to $985 and $2,435 for the nine months ended September 30, 2012 and 2013, respectively, and $750 and $1,233 for the three months ended September 30, 2012 and 2013, respectively. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Goodwill and Intangible Assets | ' | ||||||||||||||||||||||||
9. Goodwill and intangible assets | |||||||||||||||||||||||||
The following table presents the changes in goodwill for the year ended December 31, 2012 and nine months ended September 30, 2013: | |||||||||||||||||||||||||
As of December 31, | As of September 30, | ||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Opening balance | $ | 925,339 | $ | 956,064 | |||||||||||||||||||||
Goodwill relating to acquisitions consummated during the period | 43,265 | 37,918 | |||||||||||||||||||||||
Adjustment to preliminary purchase accounting for acquisitions | (3,213 | ) | (362 | ) | |||||||||||||||||||||
Effect of exchange rate fluctuations | (9,327 | ) | (43,196 | ) | |||||||||||||||||||||
Closing balance | $ | 956,064 | $ | 950,424 | |||||||||||||||||||||
The total amount of goodwill deductible for tax purposes is $6,779 and $39,260 as of December 31, 2012 and September 30, 2013, respectively. | |||||||||||||||||||||||||
The Company’s intangible assets acquired either individually or with a group of other assets or in a business combination are as follows: | |||||||||||||||||||||||||
As of December 31, 2012 | As of September 30, 2013 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
carrying | amortization | carrying | amortization | ||||||||||||||||||||||
amount | amount | ||||||||||||||||||||||||
Customer-related intangible assets | $ | 291,735 | $ | 206,987 | $ | 84,748 | $ | 286,716 | $ | 207,466 | $ | 79,250 | |||||||||||||
Marketing-related intangible assets | 40,386 | 18,801 | 21,585 | 40,654 | 20,026 | 20,628 | |||||||||||||||||||
Contract-related intangible assets | 1,182 | 1,182 | — | 1,028 | 1,028 | — | |||||||||||||||||||
Other intangible assets | 7,069 | 1,015 | 6,054 | 9,075 | 2,021 | 7,054 | |||||||||||||||||||
$ | 340,372 | $ | 227,985 | $ | 112,387 | $ | 337,473 | $ | 230,541 | $ | 106,932 | ||||||||||||||
Amortization expenses for intangible assets as disclosed in the consolidated statements of income under amortization of acquired intangible assets for the nine months ended September 30, 2012 and 2013 were $17,094 and $17,603, respectively, and for the three months ended September 30, 2012 and 2013 were $6,014 and $5,867, respectively. Intangible assets recorded for the 2004 Reorganization include the incremental value of the minimum volume commitment from GE, entered into contemporaneously with the 2004 Reorganization, over the value of the pre-existing customer relationship with GE. The amortization of this intangible asset for the nine months ended September 30, 2012 and 2013 was $55 and $0, respectively, and for the three months ended September 30, 2012 and 2013 was $17 and $0, respectively, and has been reported as a reduction of revenue. |
Employee_Benefit_Plans
Employee Benefit Plans | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Employee Benefit Plans | ' | ||||||||||||||||
10. Employee benefit plans | |||||||||||||||||
The Company has employee benefit plans in the form of certain statutory and other schemes covering its employees. | |||||||||||||||||
Defined benefit plans | |||||||||||||||||
In accordance with Indian law, the Company provides a defined benefit retirement plan (the “Gratuity Plan”) covering substantially all of its Indian employees. In addition, in accordance with Mexican law, the Company provides termination benefits to all of its Mexican employees. In addition, certain of the Company’s subsidiaries in the Philippines and Japan have sponsored defined benefit retirement programs. | |||||||||||||||||
Net defined benefit plan costs for the three months and nine months ended September 30, 2012 and 2013 include the following components: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Service costs | $ | 693 | $ | 1,528 | $ | 2,667 | $ | 3,274 | |||||||||
Interest costs | 331 | 869 | 1,246 | 1,756 | |||||||||||||
Amortization of actuarial loss | 193 | 200 | 532 | 650 | |||||||||||||
Expected return on plan assets | (187 | ) | (298 | ) | (599 | ) | (727 | ) | |||||||||
Net Gratuity Plan costs | $ | 1,030 | $ | 2,299 | $ | 3,846 | $ | 4,953 | |||||||||
Defined contribution plans | |||||||||||||||||
During the three months and nine months ended September 30, 2012 and 2013, the Company contributed the following amounts to defined contribution plans in various jurisdictions: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
India | $ | 3,450 | $ | 3,446 | $ | 10,367 | $ | 10,935 | |||||||||
U.S. | 696 | 620 | 2,462 | 2,561 | |||||||||||||
U.K. | 345 | 405 | 1,096 | 1,352 | |||||||||||||
Hungary | 6 | 6 | 52 | 18 | |||||||||||||
China | 3,092 | 3,899 | 8,670 | 10,781 | |||||||||||||
Mexico | 4 | 3 | 25 | 23 | |||||||||||||
Morocco | 33 | 20 | 122 | 71 | |||||||||||||
South Africa | 82 | 46 | 246 | 172 | |||||||||||||
Hong Kong | 10 | 4 | 27 | 15 | |||||||||||||
Philippines | 5 | 3 | 11 | 11 | |||||||||||||
Singapore | — | 2 | — | 8 | |||||||||||||
Netherlands | 411 | 345 | 840 | 1,427 | |||||||||||||
Japan | 107 | 611 | 320 | 1,577 | |||||||||||||
Total | $ | 8,241 | $ | 9,410 | $ | 24,238 | $ | 28,951 | |||||||||
Stockbased_Compensation
Stock-based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Stock-based Compensation | ' | ||||||||||||||||
11. Stock-based compensation | |||||||||||||||||
The Company has issued options under the Genpact Global Holdings 2005 Plan (the “2005 Plan”), Genpact Global Holdings 2006 Plan (the “2006 Plan”), Genpact Global Holdings 2007 Plan (the “2007 Plan”) and Genpact Limited 2007 Omnibus Incentive Compensation Plan (the “2007 Omnibus Plan”) to eligible persons who are employees, directors and certain other persons associated with the Company. | |||||||||||||||||
From the date of adoption of the 2007 Omnibus Plan on July 13, 2007, the options forfeited, expired, terminated, or cancelled under any of the plans will be added to the number of shares otherwise available for grant under the 2007 Omnibus Plan. The 2007 Omnibus Plan was amended and restated on April 11, 2012 to increase the number of common shares authorized for issuance by 5,593,200 shares to 15,000,000 shares. | |||||||||||||||||
On August 30, 2012, the Company’s Board of Directors declared a special cash dividend of $2.24 per share. The special cash dividend resulted in an adjustment to stock-based awards under both the 2007 Omnibus Plan and the 2005 Plan. Accordingly, effective September 24, 2012, the payment date of the special cash dividend, the number of common shares authorized for issuance under the 2007 Omnibus Plan was increased by 2,544,327 shares. The number of common shares authorized for issuance under the 2005 Plan was increased by 495,915 shares. | |||||||||||||||||
Further, as of December 31, 2012, the number of common shares authorized for issuance under the 2007 Omnibus Plan had been increased by 6,314,496 shares as a result of the termination, expiration or forfeiture of options granted under the Company’s stock incentive plans other than the 2007 Omnibus Plan. In accordance with the anti-dilutive provisions of the 2005 Plan, 2006 Plan, 2007 Plan and 2007 Omnibus Plan, the Company adjusted both the exercise price and the number of stock-based awards outstanding as of the record date of the special cash dividend. The aggregate fair value, intrinsic value and the ratio of the exercise price to the market price were approximately equal immediately before and after the adjustments. Therefore, in accordance with the equity restructuring guidance under ASC 718, Compensation-Stock Compensation, no incremental compensation expense was recognized for the adjustment to the outstanding stock-based awards as a result of the special cash dividend. | |||||||||||||||||
The stock-based compensation costs relating to the foregoing plans during the nine months ended September 30, 2012 and 2013 were $22,745 and $21,761 respectively, and for the three months ended September 30, 2012 and 2013, were $5,579 and $ 5,258 respectively. Stock-based compensation costs for the nine months and three months ended September 30, 2013 have been reduced by $1,670 due to a change in the probability of achievement of the performance conditions for outstanding performance units. These costs have been allocated to cost of revenue and selling, general, and administrative expenses. | |||||||||||||||||
The following table shows the significant assumptions used in connection with the determination of the fair value of options granted in the nine months ended September 30, 2013. No options were granted in the nine months ended September 30, 2012. | |||||||||||||||||
Nine months ended | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Dividend Yield | 0 | % | |||||||||||||||
Expected life (in months) | 84 | ||||||||||||||||
Risk free rate of interest | 1.55 | % | |||||||||||||||
Volatility | 39.39 | % | |||||||||||||||
A summary of options activity during the nine months ended September 30, 2013 is set out below: | |||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Shares arising | Weighted average | Weighted average | Aggregate | ||||||||||||||
out of options | exercise price | remaining | intrinsic | ||||||||||||||
contractual life | value | ||||||||||||||||
(years) | |||||||||||||||||
Outstanding as of January 1, 2013 | 12,413,298 | $ | 9.29 | 4.2 | |||||||||||||
Granted | 3,483,000 | 19.35 | |||||||||||||||
Forfeited | (63,056 | ) | 10.47 | ||||||||||||||
Expired | (67,978 | ) | 13.79 | ||||||||||||||
Exercised | (3,784,851 | ) | 8.76 | 38,149 | |||||||||||||
Outstanding as of September 30, 2013 | 11,980,413 | $ | 12.35 | 5.32 | $ | 80,652 | |||||||||||
Vested as of September 30, 2013 and expected to vest thereafter (a) | 11,596,240 | $ | 12.07 | 5.32 | $ | 80,471 | |||||||||||
Vested and Exercisable as of September 30, 2013 | 7,547,192 | $ | 9.27 | 3.24 | $ | 72,524 | |||||||||||
Weighted average grant date fair value of grants during the period | $ | 19.35 | |||||||||||||||
(a) | Options expected to vest reflect an estimated forfeiture rate. | ||||||||||||||||
As of September 30, 2013, the total remaining unrecognized stock-based compensation costs for options expected to vest amounted to $25,728, which will be recognized over the weighted average remaining requisite vesting period of 4.0 years. | |||||||||||||||||
Restricted Share Units | |||||||||||||||||
The Company has granted restricted share units, or RSUs, under the 2007 Omnibus Plan. Each RSU represents the right to receive one common share. The fair value of each RSU is the market price of one common share of the Company on the date of grant. The RSUs granted to date have vesting schedules of six months to four years. The compensation expense is recognized on a straight line basis over the vesting term. | |||||||||||||||||
A summary of RSUs granted during the nine months ended September 30, 2013 is set out below: | |||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Number of Restricted Share | Weighted Average Grant Date | ||||||||||||||||
Units | Fair Value | ||||||||||||||||
Outstanding as of January 1, 2013 | 1,688,402 | $ | 13.74 | ||||||||||||||
Granted | 91,623 | 19.52 | |||||||||||||||
Vested* | (294,451 | ) | 14.49 | ||||||||||||||
Forfeited | (190,665 | ) | 13.62 | ||||||||||||||
Outstanding as of September 30, 2013 | 1,294,909 | $ | 14 | ||||||||||||||
Expected to vest (a) | 1,165,351 | ||||||||||||||||
(a) | RSUs expected to vest reflect an estimated forfeiture rate. | ||||||||||||||||
* | Vested RSUs have been net settled upon vesting by issuing 188,966 shares (net of minimum statutory withholding taxes). | ||||||||||||||||
During the year ended December 31, 2011, 102,000 RSUs vested, the shares in respect of which were issued in January 2013 (100,800 shares, net of minimum statutory withholding taxes). Shares in respect of an additional 13,719 RSUs reflecting an adjustment to 102,000 vested RSUs on account of the special cash dividend were issued in January 2013 (13,557, net of minimum statutory withholding taxes). | |||||||||||||||||
As of December 31, 2012, 4,000 RSUs vested, the shares in respect of which were issued in April 2013 (1,819, net of minimum statutory withholding taxes). Shares in respect of an additional 533 RSUs reflecting an adjustment to 4,000 vested RSUs on account of the special cash dividend were issued in April 2013 (240, net of minimum statutory withholding taxes). | |||||||||||||||||
44,286 RSUs vested as of December 31, 2012, the shares in respect of which will be issued on December 31, 2013, after withholding shares to the extent of the minimum statutory withholding taxes. | |||||||||||||||||
As of September 30, 2013, the total remaining unrecognized stock-based compensation costs related to RSUs amounted to $12,427, which will be recognized over the weighted average remaining requisite vesting period of 1.9 years. | |||||||||||||||||
Performance Units | |||||||||||||||||
The Company also grants stock-based awards in the form of Performance Units, or PUs, under the 2007 Omnibus Plan. The Company granted PUs, each of which represents the right to receive one common share based on the Company’s performance against specified targets. PUs granted to date have vesting schedules of six months to three years. The fair value of each PU is the market price of one common share of the Company on the date of grant, and assumes that performance targets will be achieved. The PUs granted under the plan are subject to cliff or graded vesting. For awards with cliff vesting, the compensation expense is recognized on a straight-line basis over the vesting terms. For awards with graded vesting, the compensation expense is recognized over the vesting term of each separately vesting portion. Over the performance period, the number of shares that will be issued will be adjusted upward or downward based upon the probability of achievement of the performance targets. The ultimate number of shares issued and the related compensation cost recognized as an expense will be based on a comparison of the final performance metrics to the specified targets. | |||||||||||||||||
A summary of PUs activity during the nine months ended September 30, 2013 is set out below: | |||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Number of | Weighted | Maximum Shares Eligible to | |||||||||||||||
Performance Units | Average Grant | Receive | |||||||||||||||
Date Fair | |||||||||||||||||
Value | |||||||||||||||||
Outstanding as of January 1, 2013 | 3,041,511 | $ | 13.26 | 4,402,597 | |||||||||||||
Granted | 2,025,090 | 18.57 | 3,694,635 | ||||||||||||||
Vested | — | — | — | ||||||||||||||
Forfeited | (200,654 | ) | 15.13 | (256,064 | ) | ||||||||||||
Addition due to achievement of higher than target performance goals* | 297,911 | 17.5 | |||||||||||||||
Reduction due to achievement of lower than maximum performance goals** | (373,702 | ) | |||||||||||||||
Outstanding as of September 30, 2013 | 5,163,858 | $ | 15.51 | 7,467,466 | |||||||||||||
Expected to vest (a) | 2,542,867 | ||||||||||||||||
(a) | PUs expected to vest are based on the probable achievement of the performance targets after considering an estimated forfeiture rate | ||||||||||||||||
* | Represents the additional award of 22.2% of the target shares on account of the achievement of higher than target performance for the PUs granted in March 2012. | ||||||||||||||||
** | Represents a 27.8% reduction in the maximum shares eligible to vest on account of the certification of the performance goals for the PUs granted in 2012. | ||||||||||||||||
For the PUs granted in August 2010, vesting for the year ended December 31, 2011 (including the PUs issued as an adjustment on account of the special cash dividend) has taken place at 128.9% of the target shares (243,781 vested shares) after the compensation committee’s certification of the achievement of the performance goals. Shares in respect of these PUs were issued in January 2013 (156,511, net of minimum statutory withholding taxes). | |||||||||||||||||
The PUs granted in March 2010 (including the PUs issued as an adjustment on account of the special cash dividend) vested at 90.9% of the target shares (503,969 shares) after the compensation committee’s certification of the performance goals achieved for the performance period based on the Company’s audited consolidated financial statements. The shares in respect of these PUs were issued in March 2013 (334,922) and April 2013 (4,679), net of minimum statutory withholding taxes. | |||||||||||||||||
For the PUs granted in August 2010 vesting for the year ended December 31, 2012 has taken place at 122.2% of the target shares (231,029 vested shares) based on the compensation committee’s certification of achievement of the performance goals for the performance period based on the Company’s audited consolidated financial statements. The shares in respect of these PUs will be issued on December 31, 2013, net of minimum statutory withholding taxes. | |||||||||||||||||
As of September 30, 2013, the total remaining unrecognized stock-based compensation costs related to PUs amounted to $9,429, which will be recognized over the weighted average remaining requisite vesting period of 1.1 years. | |||||||||||||||||
In the first quarter of 2011, the compensation committee of the board of directors of the Company modified the performance metrics for the performance grants made to employees in 2010 from Revenue and EBITDA growth to revenue and adjusted operating income growth. | |||||||||||||||||
Original Performance Target | Modified Performance Target | ||||||||||||||||
Performance Level | Revenue | EBITDA | Revenue | Adjusted Income from | |||||||||||||
Growth | Growth | Growth | Operation growth | ||||||||||||||
Outstanding | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||
Target | 15 | % | 15 | % | 15 | % | 15 | % | |||||||||
Threshold | 10 | % | 10 | % | 10 | % | 10 | % | |||||||||
For the August 2010 performance grant to the Company’s former CEO, who assumed the role of Non-Executive Vice-Chairman as of June 17, 2011, in addition to the modification made to the performance metrics from revenue and EBITDA growth to revenue and adjusted operating income growth, because the award vests based on annual performance targets whereas the awards to other employees vest based on average performance over three years, the performance targets have been revised to make them consistent with the performance unit grants made to other employees in the first quarter of 2011. | |||||||||||||||||
Original Performance Target | Modified Performance Target | ||||||||||||||||
Performance Level | Revenue | EBITDA | Revenue | Adjusted Income from | |||||||||||||
Growth | Growth | Growth | Operation growth | ||||||||||||||
Outstanding | 20 | % | 20 | % | 17 | % | 16 | % | |||||||||
Target | 15 | % | 15 | % | 12.5 | % | 12.5 | % | |||||||||
Threshold | 10 | % | 10 | % | 8 | % | 7 | % | |||||||||
As of the date of the above modifications, an incremental compensation cost of $4,109 was determined and was to be recognized over a period of 21.5 months, starting from March 2011 to December 31, 2012. | |||||||||||||||||
Under the 2007 Omnibus Plan, the definition of change of control includes the acquisition by any person, corporation or other entity or group other than GA, OH, GE or any of their affiliates of 25% or more of the voting securities of the Company. The purchase by Bain Capital of Company shares from GA and OH would have constituted a change of control under the 2007 Omnibus Plan resulting in (1) accelerated vesting of the PUs granted in August 2010 to the former CEO (who since assumed the role of Non-Executive Vice-Chairman) and the PUs granted to the Company’s Chief Executive Officer in June 2011 and March 2012, (2) “double-trigger” vesting of the outstanding PUs granted in March 2010 and March 2011 based on an abbreviated performance period ending with the close of the Company’s fiscal quarter coincident with or immediately preceding the effective date of the Change of Control in the event of a termination without cause in the twenty-four months following a change of control and (3) “double-trigger” vesting of the outstanding PUs granted in March 2012 based on target performance in the event of a termination without cause in the twenty-four months following a change of control. However, because the Board of Directors determined that the Bain transaction was not the type of transaction intended to constitute a change of control, the 2007 Omnibus Plan was amended to provide that the contemplated transaction among Bain Capital, GA and OH would not constitute a change of control thereunder. In addition, the CEO and Non-Executive Vice-Chairman waived any accelerated vesting of their PUs and the affected employees consented to the amendment of the change of control definition. As a result of the foregoing, all PUs will continue to vest in accordance with their original terms. | |||||||||||||||||
The amendment to the 2007 Omnibus Plan was a modification to the PUs effective as of October 25, 2012, as a result of which 123 employees were affected and an incremental compensation cost of $5,500 was determined and will be recognized over a weighted average period of 1.85 years. The incremental compensation cost due to modification was a result of considering the original performance period for the determination of expected vesting compared to the abbreviated performance period for 2010 and 2011 grants and vesting at target for 2012 performance grants. | |||||||||||||||||
Employee Stock Purchase Plan (ESPP) | |||||||||||||||||
On May 1, 2008, the Company adopted the Genpact Limited U.S. Employee Stock Purchase Plan and the Genpact Limited International Employee Stock Purchase Plan (together, the “ESPP”). | |||||||||||||||||
The ESPP allows eligible employees to purchase the Company’s common shares through payroll deduction at 90% of the fair value per share on the last business day of each purchase interval. The dollar amount of common shares purchased under the ESPP shall not exceed the greater of 15% of the participating employee’s base salary or $25 per calendar year. With effect from September 1, 2009, the offering periods commence on the first business day in March, June, September and December of each year and end on the last business day in the subsequent May, August, November and February of each year. 4,200,000 common shares have been reserved for issuance in the aggregate over the term of the ESPP. | |||||||||||||||||
During the nine months ended September 30, 2012 and 2013, the number of common shares issued under the ESPP was 63,106 and 81,040, respectively. | |||||||||||||||||
The ESPP is considered compensatory under the FASB guidance on Compensation-Stock Compensation. | |||||||||||||||||
The compensation expense for the ESPP is recognized in accordance with the FASB guidance on Compensation-Stock Compensation. The compensation expense for the ESPP during the nine months ended September 30, 2012 and 2013 was, $111 and $170, respectively, and for the three months ended September 30, 2012 and 2013, was $34 and $54, respectively, and has been allocated to cost of revenue and selling, general, and administrative expenses. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
12. Earnings per share | |||||||||||||||||
The Company calculates earnings per share in accordance with FASB guidance on Earnings per share. Basic and diluted earnings per common share give effect to the change in the number of common shares of the Company. The calculation of earnings per common share was determined by dividing net income available to common shareholders by the weighted average number of common shares outstanding during the respective periods. The potentially dilutive shares, consisting of outstanding options on common shares, restricted share units, common shares to be issued under the ESPP and performance units, have been included in the computation of diluted net earnings per share and the weighted average shares outstanding, except where the result would be anti-dilutive. | |||||||||||||||||
The number of stock options outstanding but not included in the computation of diluted earnings per common share because the effect was anti-dilutive is 4,366,422 and 2,327,000 for the nine months ended September 30, 2012 and 2013, respectively, and is 285,000 and 3,483,000 for the three months ended September 30, 2012 and 2013, respectively. | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Net income available to Genpact Limited common shareholders | $ | 25,175 | $ | 70,262 | $ | 124,815 | $ | 180,875 | |||||||||
Weighted average number of common shares used in computing basic earnings per common share | 223,876,035 | 230,057,508 | 223,289,507 | 228,840,746 | |||||||||||||
Dilutive effect of stock-based awards | 6,319,799 | 6,279,416 | 5,226,884 | 6,254,914 | |||||||||||||
Weighted average number of common shares used in computing dilutive earnings per common share | 230,195,834 | 236,336,924 | 228,516,391 | 235,095,660 | |||||||||||||
Earnings per common share attributable to Genpact Limited common shareholders | |||||||||||||||||
Basic | $ | 0.11 | $ | 0.31 | $ | 0.56 | $ | 0.79 | |||||||||
Diluted | $ | 0.11 | $ | 0.3 | $ | 0.55 | $ | 0.77 |
Shortterm_Borrowings
Short-term Borrowings | 9 Months Ended | ||
Sep. 30, 2013 | |||
Short-term Borrowings | ' | ||
13. Short-term borrowings | |||
The Company has the following borrowing facilities: | |||
(a) | Fund-based and non-fund-based credit facilities with banks, which are available for operational requirements in the form of overdrafts, letters of credit, guarantees and short-term loans. As of December 31, 2012 and September 30, 2013, the limits available were $18,489 and $16,393, respectively out of which $5,942 and $6,686 was utilized, representing non-funded drawdown. | ||
(b) | A fund-based and non–fund-based revolving credit facility of $260,000 acquired in May 2011 was fully prepaid and terminated on August 30, 2012 as described in note 14 below. | ||
(c) | A fund-based and non-fund-based revolving credit facility of $250,000 initially acquired in August 2012 was amended in June 2013 as described in note 14 below. A part of this amount was initially used for funding the special cash dividend paid in September 2012 and for the acquisition of Jawood in February 2013. As of December 31, 2012 and September 30, 2013, a total of $87,439 and $4,397, respectively, was utilized representing a funded drawdown of $80,000 and $0, respectively, and a non-funded drawdown of $7,439 and $4,397, respectively. This facility expires in August 2017 and the funded drawdown bears interest at LIBOR plus a margin of 2.50% as of September 30, 2013 compared to a margin of 3.25% as of December 31, 2012. The unutilized amount on the facility bears a commitment fee of 0.50%. Indebtedness under these facilities is secured by certain assets and the credit agreement contains certain covenants, including a maximum leverage covenant that becomes effective only if the revolving facility is drawn for $50,000 or more. For the nine months ended September 30, 2013, the Company is in compliance with all of the financial covenants. |
Longterm_Debt
Long-term Debt | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Long-term Debt | ' | ||||
14. Long-term debt | |||||
In May 2011, the Company obtained credit facilities aggregating $380,000 from a consortium of financial institutions to finance in part the acquisition of Headstrong and for general corporate purposes of the Company and its subsidiaries, including working capital requirements. The credit agreement provided for a $120,000 term loan and a $260,000 revolving credit facility. On August 30, 2012, the Company fully prepaid and terminated the $380,000 credit facility. | |||||
In August 2012, the Company obtained credit facilities aggregating $925,000 from a consortium of financial institutions to (i) finance the repayment of the balance outstanding under the previous existing credit facility of $380,000, (ii) fund a portion of the special cash dividend, and (iii) for general corporate purposes of the Company and its subsidiaries, including working capital requirements. The credit agreement provided for a term loan of $675,000 and a revolving credit facility of $250,000. | |||||
In June 2013, the Company amended this credit facility. Under the amended facility, the applicable margin on the term loan and the revolving credit facility has been reduced from 3.25% p.a. to 2.75% p.a. and 2.50% p.a., respectively. In addition, the LIBOR floor on the term loan was reduced from 1% under the earlier facility to 0.75% under the amended facility. As of the amendment date, the gross outstanding term loan amounted to $671,625. The amendment did not result in a substantial modification of $553,589 of the outstanding term loan under the previous credit facility. Further, as a result of the amendment, the Company extinguished the outstanding term loan under the previous credit facility amounting to $118,036 and obtained additional funding amounting to $121,410, increasing the total term loan outstanding to $675,000. As a result, the Company expensed $3,103 representing partial acceleration of the amortization of the existing unamortized debt issuance costs and an additional fee paid to lenders in respect of the extinguished amount. The overall borrowing capacity under the revolving facility did not change. The amendment of the revolving facility resulted in accelerated amortization of $54 relating to the existing unamortized debt issuance cost. The remaining unamortized costs and an additional third party fee paid in connection with the amendment of the term loan and revolving facility will be amortized over the term of the term loan and revolving facility ending on August 30, 2019 and August 30, 2017, respectively. | |||||
As of December 31, 2012 and September 30, 2013, the outstanding term loan, net of a debt amortization expense of $11,452 and $14,392, was $661,861 and $658,920 respectively. As of December 31, 2012, the term loan bears interest at LIBOR (LIBOR floor of 1%) plus an applicable margin of 3.25% p.a. As of September 30, 2013, the term loan bears interest at LIBOR (LIBOR floor of 0.75%) plus an applicable margin of 2.75% p.a. Indebtedness under the loan agreement is secured by certain assets. The amount outstanding on the term loan as of September 30, 2013 will be repaid through quarterly payments of 0.25% of the principal amount of $675,000, and the balance will be repaid upon the maturity of the term loan on August 30, 2019. | |||||
The maturity profile of the term loan, net of debt amortization expense, is as follows: | |||||
Year Ended | Amount | ||||
2013 | $ | 1,056 | |||
2014 | $ | 4,263 | |||
2015 | $ | 4,288 | |||
2016 | $ | 4,306 | |||
2017 | $ | 4,338 | |||
2018 | $ | 4,363 | |||
2019 | $ | 636,306 | |||
$ | 658,920 | ||||
Cost_of_Revenue
Cost of Revenue | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Cost of Revenue | ' | ||||||||||||||||
15. Cost of revenue | |||||||||||||||||
Cost of revenue consists of the following: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Personnel expenses | $ | 203,011 | $ | 223,976 | $ | 583,649 | $ | 671,518 | |||||||||
Operational expenses | 82,227 | 93,235 | 228,256 | 265,894 | |||||||||||||
Depreciation and amortization | 12,015 | 12,078 | 36,035 | 36,317 | |||||||||||||
$ | 297,253 | $ | 329,289 | $ | 847,940 | $ | 973,729 | ||||||||||
Selling_General_and_Administra
Selling, General and Administrative Expenses | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Selling, General and Administrative Expenses | ' | ||||||||||||||||
16. Selling, general and administrative expenses | |||||||||||||||||
Selling, general and administrative expenses consist of the following: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Personnel expenses | $ | 80,421 | $ | 83,580 | $ | 230,917 | $ | 251,379 | |||||||||
Operational expenses | 35,916 | 31,318 | 100,318 | 90,865 | |||||||||||||
Depreciation and amortization | 2,199 | 2,107 | 6,559 | 6,388 | |||||||||||||
$ | 118,536 | $ | 117,005 | $ | 337,794 | $ | 348,632 | ||||||||||
Other_Operating_Income_Expense
Other Operating (Income) Expense, Net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Operating (Income) Expense, Net | ' | ||||||||||||||||
17. Other operating (income) expense, net | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Other operating (income) expense | $ | (789 | ) | $ | (1,051 | ) | $ | (2,302 | ) | $ | (2,260 | ) | |||||
Provision for impairment of capital work in progress / property, plant and equipment | 2,121 | — | 2,121 | 2,392 | |||||||||||||
Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions) | (1,930 | ) | (2,181 | ) | (1,930 | ) | (4,452 | ) | |||||||||
Other operating (income) expense, net | $ | (598 | ) | $ | (3,232 | ) | $ | (2,111 | ) | $ | (4,320 | ) | |||||
Other_Income_Expense_Net
Other Income (Expense), Net | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income (Expense), Net | ' | ||||||||||||||||
18. Other income (expense), net | |||||||||||||||||
Other income (expense), net consists of the following: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Interest income | $ | 2,455 | $ | 4,355 | $ | 7,965 | $ | 14,114 | |||||||||
Interest expense* | (11,022 | ) | (8,134 | ) | (17,987 | ) | (30,861 | ) | |||||||||
Provision (created) reversed for loss on divestitures | — | 141 | — | (3,520 | ) | ||||||||||||
Other income (expense)** | (6,365 | ) | 184 | (5,733 | ) | 1,163 | |||||||||||
Other income (expense), net | $ | (14,932 | ) | $ | (3,454 | ) | $ | (15,755 | ) | $ | (19,104 | ) | |||||
* | Three months ended September 30, 2012 and 2013 include $5,534 and $0, respectively, and nine months ended September 30, 2012 and 2013 include $5,534 and $3,157, respectively, representing acceleration of the amortization of debt issuance costs relating to the prepayment and termination of the previous credit facility in August 2012 and amendment of the new credit facility in June 2013, respectively, as described in Note 14. | ||||||||||||||||
** | Three months and nine months ended September 30, 2012 include $6,607, representing 2012 recapitalization expenses, as described in Note 1. |
Income_Taxes
Income Taxes | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Income Taxes | ' | ||||
19. Income taxes | |||||
The Company determines the tax provision for interim periods using an estimate of annual effective tax rate adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the Company updates its estimate of the annual effective tax rate, and if its estimated tax rate changes, the Company makes a cumulative adjustment. | |||||
The Company’s effective tax rate in the third quarter of 2013 and for the nine months ended September 30, 2013 is 23.8% and 24.4% respectively, down from 37.7% in the third quarter of 2012 and 29.9% for the nine months ended September 30, 2012. This decrease was primarily driven by the growth of operations in low tax and tax-exempt locations, primarily in India, and the impact of certain period items in the third quarter of 2012. In the third quarter of 2012, the Company incurred recapitalization expenses which were largely non-deductible as well as withholding taxes of $2,300. | |||||
As of December 31, 2012, the Company had unrecognized tax benefits amounting to $21,024 including an amount of $20,871 that, if recognized, would impact the effective tax rate. | |||||
The following table summarizes the activities related to the Company’s unrecognized tax benefits for uncertain tax positions from January 1, 2013 to September 30, 2013: | |||||
Opening Balance at January 1, 2013 | $ | 21,024 | |||
Increase related to prior year tax positions, including recorded against goodwill | 1,503 | ||||
Decrease related to prior year tax positions | (719 | ) | |||
Increase related to current year tax positions | 1,217 | ||||
Effect of exchange rate changes | (2,036 | ) | |||
Closing Balance at September 30, 2013 | $ | 20,989 | |||
The unrecognized tax benefits as of September 30, 2013 include an amount of $20,831 that, if recognized, would impact the effective tax rate. As of December 31, 2012 and September 30, 2013, the Company has accrued approximately $3,423 and $3,841, respectively, in interest relating to unrecognized tax benefits. | |||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions | ' |
20. Related party transactions | |
Related party transactions during the year ended December 31, 2012 included transactions with a client who had a significant interest in the Company. During the year ended December 31, 2012, such interest decreased to less than 5% of the Company’s outstanding shares and therefore such client is no longer a related party. The Company has also entered into related party transactions with its non-consolidating affiliates and a client in which one of the Company’s directors has a controlling interest. During the nine months ended September 30, 2013, the Company acquired the remaining equity interest in one of its non-consolidating affiliates, which is now a wholly owned subsidiary as described in note 3A(b). The Company has also entered into related party transactions with an affiliate of a significant shareholder of the Company. | |
The related party transactions can be categorized as follows: | |
Revenue from services | |
For the nine months ended September 30, 2012, the Company recognized net revenues of $143, and for the three months ended September 30, 2012, the Company recognized net revenues of $53, from a client in which one of the Company’s directors has a controlling interest. | |
For the nine months ended September 30, 2012, the Company recognized net revenues of $344, and for the three months ended September 30, 2012, the Company recognized net revenues of $117, from a client who had a significant interest in the Company. | |
For the nine months ended September 30, 2013, the Company recognized net revenues of $571, and for the three months ended September 30, 2013, the Company recognized net revenues of $190, from a client who is an affiliate of a significant shareholder of the Company. | |
Cost of revenue from services | |
The Company purchases certain services from its non-consolidating affiliates mainly relating to training and recruitment, which are included in cost of revenue. For the nine months ended September 30, 2012 and 2013, cost of revenue includes an amount of $1,754 and $1,527, respectively, and for the three months ended September 30, 2012 and 2013, cost of revenue, includes an amount of $670 and $563, respectively. | |
Selling, general and administrative expenses | |
The Company purchases certain services from its non-consolidating affiliates mainly relating to training and recruitment, which are included in selling, general and administrative expenses. For the nine months ended September 30, 2012 and 2013, selling, general and administrative expenses includes an amount of $408 and $356, respectively, and for the three months ended September 30, 2012 and 2013, selling, general and administrative expenses includes an amount of $198 and $135, respectively. | |
Investment in equity affiliate | |
During the nine months ended September 30, 2012, the Company made an investment of $205 in its non-consolidating affiliates, and for the three months ended September 30, 2012, the Company made an investment of $0 in its non-consolidating affiliates. |
Dividend
Dividend | 9 Months Ended |
Sep. 30, 2013 | |
Dividend | ' |
21. Dividend | |
On August 30, 2012, the Company declared a special cash dividend of $2.24 per share, or approximately $501,620. The special cash dividend was paid on September 24, 2012 to shareholders of record as of the close of business on September 10, 2012. Further, in accordance with the terms of the Company’s stock-based compensation plans, in order to preserve the value of the stock-based awards outstanding as of the record date, the Company reduced the exercise price per share of each outstanding stock option award and increased the number of shares in relation to the outstanding stock-based awards as of the record date of the special cash dividend. |
Commitments_and_Contingencies
Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies | ' |
22. Commitments and contingencies | |
Capital commitments | |
As of December 31, 2012 and September 30, 2013, the Company has committed to spend $3,965 and $4,772, respectively, under agreements to purchase property, plant and equipment. This amount is net of capital advances paid in respect of these purchases. | |
Bank Guarantees | |
The Company has outstanding bank guarantees amounting to $13,381 and $11,083 as of December 31, 2012 and September 30, 2013, respectively. Bank guarantees are generally provided to government agencies, excise and customs authorities for the purposes of maintaining a bonded warehouse. These guarantees may be revoked by the government agencies if they suffer any losses or damage through the breach of any of the covenants contained in the agreements. | |
Other commitments | |
The Company’s business process delivery centers in India are 100% Export Oriented units or Software Technology Parks of India units (“STPI”) under the STPI guidelines issued by the Government of India. These units are exempt from customs, central excise duties, and levies on imported and indigenous capital goods, stores, and spares. The Company has undertaken to pay custom duties, service taxes, levies, and liquidated damages payable, if any, in respect of imported and indigenous capital goods, stores, and spares consumed duty free, in the event that certain terms and conditions are not fulfilled. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Basis of preparation and principles of consolidation | ' | ||||
(a) Basis of preparation and principles of consolidation | |||||
The unaudited interim consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) for interim financial information and the rules and regulations of the Securities and Exchange Commission for reporting on Form 10-Q. Accordingly, they do not include certain information and note disclosures required by generally accepted accounting principles for annual financial reporting and should be read in conjunction with the consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012. | |||||
The unaudited interim consolidated financial statements reflect all adjustments that management considers necessary for a fair presentation of the results of operations for these periods. The results of operations for the interim periods are not necessarily indicative of the results for the full year. | |||||
The accompanying unaudited interim consolidated financial statements have been prepared on a consolidated basis and reflect the financial statements of Genpact Limited and all of its subsidiaries that are more than 50% owned and controlled. When the Company does not have a controlling interest in an entity, but exerts a significant influence on the entity, the Company applies the equity method of accounting. All intercompany transactions and balances are eliminated in consolidation. | |||||
The noncontrolling interest disclosed in the accompanying unaudited interim consolidated financial statements represents the noncontrolling partners’ interest in the operation of Genpact Netherlands B.V. and the noncontrolling shareholders’ interest in the operation of Hello Communications (Shanghai) Co., Ltd. and the profits or losses associated with the noncontrolling interest in those operations. The noncontrolling partners of Genpact Netherlands B.V. are individually liable for the tax obligations on their shares of profit as it is a partnership and, accordingly, noncontrolling interest relating to Genpact Netherlands B.V. has been computed prior to tax and disclosed accordingly in the unaudited interim Consolidated Statements of Income. | |||||
Use Of Estimates | ' | ||||
(b) Use of estimates | |||||
The preparation of consolidated financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements. Significant items subject to such estimates and assumptions include the useful lives of property, plant and equipment, the carrying amount of property, plant and equipment, intangibles and goodwill, the reserve for doubtful receivables, the valuation allowance for deferred tax assets, the valuation of derivative financial instruments, the measurements of stock-based compensation, assets and obligations related to employee benefits, income tax uncertainties and other contingencies. Management believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Although these estimates are based upon management’s knowledge of current events and actions, actual results could differ from these estimates. Any changes in estimates are adjusted prospectively in the consolidated financial statements. | |||||
Business combinations | ' | ||||
(c) Business combinations, goodwill and other intangible assets | |||||
The Company accounts for its business combinations by recognizing the identifiable tangible and intangible assets acquired and liabilities assumed, and any noncontrolling interest in the acquired business, measured at their acquisition date fair values. Contingent consideration is included within the acquisition cost and is recognized at its fair value on the acquisition date. A liability resulting from contingent consideration is remeasured to fair value at each reporting date until the contingency is resolved. Changes in fair value are recognized in earnings. All assets and liabilities of the acquired businesses, including goodwill, are assigned to reporting units. Acquisition related costs are expensed as incurred under Selling, General and Administrative Expenses. | |||||
Goodwill | ' | ||||
Goodwill represents the cost of acquired businesses in excess of the fair value of identifiable tangible and intangible net assets purchased. Goodwill is not amortized but is tested for impairment at least on an annual basis on December 31, based on a number of factors including operating results, business plans and future cash flows. The Company performs an assessment of qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Based on the assessment of events or circumstances, the Company performs the quantitative assessment of goodwill impairment if it determines that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If based on the quantitative impairment analysis the carrying value of the goodwill of the reporting unit exceeds the fair value of that goodwill, an impairment loss is recognized in an amount equal to the excess. In addition, the Company performs the qualitative assessment of Goodwill impairment between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying amount. See note 9 for information and related disclosures. | |||||
Intangible Assets | ' | ||||
Intangible assets acquired individually or with a group of other assets or in a business combination are carried at cost less accumulated amortization based on their estimated useful lives as follows: | |||||
Customer-related intangible assets | 1-14 years | ||||
Marketing-related intangible assets | 1-10 years | ||||
Contract-related intangible assets | 1 year | ||||
Other intangible assets | 3-9 years | ||||
Intangible assets are amortized over their estimated useful lives using a method of amortization that reflects the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. | |||||
In business combinations, where the fair value of identifiable tangible and intangible net assets purchased exceeds the cost of the acquired business, the Company recognizes the resulting gain under “Other operating (income) expense, net” in the Consolidated Statements of Income. | |||||
Financial instruments and concentration of credit risk | ' | ||||
(d) Financial instruments and concentration of credit risk | |||||
Financial instruments that potentially subject the Company to concentration of credit risk are reflected principally in cash and cash equivalents, short term deposits, derivative financial instruments and accounts receivable. The Company places its cash and cash equivalents and derivative financial instruments with corporations and banks with high investment grade ratings, limits the amount of credit exposure with any one corporation or bank and conducts ongoing evaluations of the creditworthiness of the corporations and banks with which it does business. To reduce its credit risk on accounts receivable, the Company conducts ongoing credit evaluations of its clients. GE accounted for 30% and 27% of receivables as of December 31, 2012 and September 30, 2013, respectively. GE accounted for 26% and 23% of revenues for the nine months ended September 30, 2012 and 2013, respectively, and for 26% and 22% of revenues for the three months ended September 30, 2012 and 2013, respectively. | |||||
Recently adopted accounting pronouncements | ' | ||||
(e) Recently adopted accounting pronouncements | |||||
The authoritative bodies release standards and guidance which are assessed by management for impact on the Company’s consolidated financial statements. | |||||
The following recently released accounting standard has been adopted by the Company and certain disclosures in the consolidated financial statements and notes to the consolidated financial statements have been modified accordingly. Adoption of this standard did not have a material impact on the consolidated results of operations, cash flows, financial position or disclosures: | |||||
• | Effective January 1, 2013, the Company adopted FASB ASU 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). ASU 2013-02 amended existing guidance by requiring additional disclosure either on the face of the income statement or in the notes to the financial statements of significant amounts reclassified out of accumulated other comprehensive income. ASU 2013-02 requires prospective adoption and affects financial statement disclosure only. | ||||
Reclassification | ' | ||||
(f) Reclassification | |||||
Certain reclassifications have been made in the consolidated financial statements of prior periods to conform to the classification used in the current period. The impact of such reclassifications on the consolidated financial statements is not material. |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Estimated Useful Lives of Intangible Assets Acquired | ' | ||||
Intangible assets acquired individually or with a group of other assets or in a business combination are carried at cost less accumulated amortization based on their estimated useful lives as follows: | |||||
Customer-related intangible assets | 1-14 years | ||||
Marketing-related intangible assets | 1-10 years | ||||
Contract-related intangible assets | 1 year | ||||
Other intangible assets | 3-9 years |
Business_Acquisitions_and_Dive1
Business Acquisitions and Divestitures (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Re-Measured Fair Value of Earn-Out Consideration with Corresponding Changes in Consolidated Statements of Income | ' | ||||||||
As of September 30, 2013, the Company re-measured the fair value of such earn-out consideration with corresponding changes in the Consolidated Statements of Income as follows: | |||||||||
Decrease in fair value of earn-out consideration for Empower | $ | (145 | ) | ||||||
Decrease in fair value of earn-out consideration for Triumph Companies | (2,150 | ) | |||||||
Decrease in fair value of earn-out consideration for Atyati | (1,794 | ) | |||||||
Decrease in fair value of earn-out consideration for HPP | (363 | ) | |||||||
$ | (4,452 | ) | |||||||
Third Pillar System Inc | ' | ||||||||
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the allocation of purchase price based on the fair value of assets acquired and liabilities assumed as of the acquisition date: | |||||||||
Cash consideration | $ | 2,500 | |||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Current assets | $ | 375 | |||||||
Intangible assets | 298 | ||||||||
Other non-current assets | 24 | ||||||||
Current liabilities | (200 | ) | |||||||
Total identifiable net assets acquired | $ | 497 | |||||||
Goodwill | 2,003 | ||||||||
Total | $ | 2,500 | |||||||
NGEN Media Services Private Limited | ' | ||||||||
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the consideration paid to acquire NGEN and the fair value of assets acquired and liabilities assumed as of the acquisition date, as well as the fair value of the Company’s existing investment in NGEN as of the acquisition date: | |||||||||
Cash consideration | $ | 158 | |||||||
Acquisition date fair value of the Company’s investment in NGEN held before the business combination | 158 | ||||||||
Total | $ | 316 | |||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 432 | |||||||
Current assets | 402 | ||||||||
Tangible fixed assets | 27 | ||||||||
Other non-current assets | 89 | ||||||||
Current liabilities | (337 | ) | |||||||
Other liabilities | (274 | ) | |||||||
Total identifiable net assets acquired | $ | 339 | |||||||
Gain recognized on acquisition | (23 | ) | |||||||
Total | $ | 316 | |||||||
Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | ' | ||||||||
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
Pursuant to the terms of the acquisition agreements with the respective sellers, the purchase consideration for the Jawood business is comprised of the following: | |||||||||
Base purchase price | $ | 53,295 | |||||||
Closing date net working capital adjustment | (3,821 | ) | |||||||
Closing date indebtedness adjustment | (2,202 | ) | |||||||
Closing date cash adjustment | 1,304 | ||||||||
Seller expenses | (1,379 | ) | |||||||
Total purchase price | $ | 47,197 | |||||||
Business Acquisition Purchase Price Determination | ' | ||||||||
The following table summarizes the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed as of the date of acquisition including measurement period adjustments: | |||||||||
Purchase price | $ | 47,197 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 310 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 1,364 | |||||||
Current assets | 6,477 | ||||||||
Tangible fixed assets | 704 | ||||||||
Intangible assets | 11,200 | ||||||||
Other non-current assets | 548 | ||||||||
Current liabilities | (7,866 | ) | |||||||
Long term liabilities | (56 | ) | |||||||
Total identifiable net assets acquired | $ | 12,371 | |||||||
Goodwill | 34,826 | ||||||||
Total | $ | 47,197 | |||||||
Fair Value and Estimated Useful Lives of Intangibles | ' | ||||||||
The value and estimated useful lives of the intangible assets are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangible assets | $ | 10,200 | 1 – 7 years | ||||||
Marketing related intangible assets | 1,000 | 1 – 5 years | |||||||
Atyati Technologies Private Limited | ' | ||||||||
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed as of the date of acquisition including measurement period adjustments: | |||||||||
Purchase price | $ | 23,394 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 164 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 2,000 | |||||||
Current assets | 5,265 | ||||||||
Tangible fixed assets | 426 | ||||||||
Intangible assets | 8,767 | ||||||||
Deferred tax asset/ (liability), net | (2,557 | ) | |||||||
Other non-current assets | 369 | ||||||||
Current liabilities | (3,424 | ) | |||||||
Short term borrowings | (654 | ) | |||||||
Other liabilities | (737 | ) | |||||||
Total identifiable net assets acquired | $ | 9,455 | |||||||
Goodwill | 13,939 | ||||||||
Total | $ | 23,394 | |||||||
Business Acquisition Purchase Price Determination | ' | ||||||||
Pursuant to the terms of the acquisition agreement with the sellers, the purchase consideration is comprised of the following: | |||||||||
Cash consideration | $ | 19,368 | |||||||
Acquisition date discounted value of deferred consideration | 2,539 | ||||||||
Acquisition date fair value of earn-out consideration | 1,487 | ||||||||
Working capital adjustment | — | ||||||||
Total purchase price | $ | 23,394 | |||||||
Fair Value and Estimated Useful Lives of Intangibles | ' | ||||||||
The value and estimated useful lives of the intangibles are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangibles | $ | 5,408 | 4 – 9 years | ||||||
Other intangibles | 3,359 | 7 years | |||||||
Triumph Engineering Corporation and Triumph On-Demand Inc | ' | ||||||||
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the allocation of the purchase price based on the fair value of assets acquired and liabilities assumed as of the date of acquisition: | |||||||||
Purchase price | $ | 5,446 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 134 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 312 | |||||||
Current assets | 1,708 | ||||||||
Tangible fixed assets | 175 | ||||||||
Intangible assets | 382 | ||||||||
Deferred tax asset/ (liability), net | (565 | ) | |||||||
Current liabilities | (720 | ) | |||||||
Short term borrowing | (350 | ) | |||||||
Total identifiable net assets acquired | $ | 942 | |||||||
Goodwill | 4,504 | ||||||||
Total | $ | 5,446 | |||||||
Business Acquisition Purchase Price Determination | ' | ||||||||
Pursuant to the terms of the acquisition agreement with the seller, the purchase consideration is comprised of the following: | |||||||||
Cash consideration | $ | 3,600 | |||||||
Acquisition date fair value of deferred consideration | 379 | ||||||||
Acquisition date fair value of earn-out consideration | 3,256 | ||||||||
Working capital adjustment | (848 | ) | |||||||
Closing indebtedness adjustment | (941 | ) | |||||||
Total purchase price | $ | 5,446 | |||||||
Fair Value and Estimated Useful Lives of Intangibles | ' | ||||||||
The value and estimated useful lives of the intangibles are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangibles | $ | 382 | 1 to 10 years | ||||||
Accounting Plaza B.V. ("Accounting Plaza") | ' | ||||||||
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed | ' | ||||||||
The following table summarizes the allocation of the purchase consideration based on the fair value of assets acquired and liabilities assumed as of the date of acquisition including measurement period adjustments: | |||||||||
Purchase consideration | $ | 38,698 | |||||||
Acquisition related costs included in selling, general and administrative expenses | 434 | ||||||||
Recognized amounts of identifiable assets acquired and liabilities assumed | |||||||||
Cash and cash equivalents | $ | 1,664 | |||||||
Current assets | 11,327 | ||||||||
Tangible fixed assets | 2,010 | ||||||||
Intangible assets | 13,138 | ||||||||
Deferred tax asset/ (liability), net | (2,711 | ) | |||||||
Other non-current assets | 971 | ||||||||
Current liabilities | (9,062 | ) | |||||||
Other liabilities | (4,188 | ) | |||||||
Total identifiable net assets acquired | $ | 13,149 | |||||||
Goodwill | 25,549 | ||||||||
Total | $ | 38,698 | |||||||
Business Acquisition Purchase Price Determination | ' | ||||||||
Pursuant to the terms of the acquisition agreement with the sellers, the purchase consideration is comprised of the following: | |||||||||
Base consideration | $ | 38,698 | |||||||
Adjustment for transfer of pension funds | — | ||||||||
Adjustment for underfunding in pension funds | — | ||||||||
Adjustment for sellers warranty breaches and certain other transactions | — | ||||||||
Adjustment for transaction costs | — | ||||||||
Purchase consideration | $ | 38,698 | |||||||
Fair Value and Estimated Useful Lives of Intangibles | ' | ||||||||
The value and estimated useful life of the intangible asset are as follows: | |||||||||
Value | Estimated useful life | ||||||||
Customer related intangible | $ | 13,138 | 3 – 10 years |
Cash_and_Cash_Equivalents_Tabl
Cash and Cash Equivalents (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Cash And Cash Equivalents | ' | ||||||||
Cash and cash equivalents as of December 31, 2012 and September 30, 2013 comprise: | |||||||||
As of December 31, 2012 | As of September 30, 2013 | ||||||||
Deposits with banks | $ | 283,660 | $ | 245,909 | |||||
Other cash and bank balances | 175,568 | 235,589 | |||||||
Total | $ | 459,228 | $ | 481,498 | |||||
Accounts_Receivable_Net_of_Res1
Accounts Receivable, Net of Reserve for Doubtful Receivables (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Reserve for Doubtful Receivables | ' | ||||||||
The following table provides details of the reserve for doubtful receivables recorded by the Company: | |||||||||
As of December 31, | As of September 30, | ||||||||
2012 | 2013 | ||||||||
Opening balance as of January 1 | $ | 8,704 | $ | 9,073 | |||||
Additions due to acquisitions | 184 | — | |||||||
Additions charged to cost and expense | 3,878 | 8,919 | |||||||
Deductions | (3,693 | ) | (3,473 | ) | |||||
Closing balance | $ | 9,073 | $ | 14,519 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Fair Value of Assets and Liabilities Measured on Recurring Basis | ' | ||||||||||||||||
The Company measures certain financial assets and liabilities, including derivative instruments, at fair value on a recurring basis. The fair value measurements of these derivative instruments were determined using the following inputs as of December 31, 2012 and September 30, 2013: | |||||||||||||||||
As of December 31, 2012 | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in Active | Significant Other | Significant Other | |||||||||||||||
Markets for Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets | |||||||||||||||||
Derivative Instruments (Note a) | $ | 10,645 | $ | — | $ | 10,645 | $ | — | |||||||||
Total | $ | 10,645 | $ | — | $ | 10,645 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Derivative Instruments (Note b) | $ | 174,076 | $ | — | $ | 174,076 | $ | — | |||||||||
Total | $ | 174,076 | $ | — | $ | 174,076 | $ | — | |||||||||
As of September 30, 2013 | |||||||||||||||||
Fair Value Measurements at Reporting Date Using | |||||||||||||||||
Quoted Prices in Active | Significant Other | Significant Other | |||||||||||||||
Markets for Identical | Observable | Unobservable | |||||||||||||||
Assets | Inputs | Inputs | |||||||||||||||
Total | (Level 1) | (Level 2) | (Level 3) | ||||||||||||||
Assets | |||||||||||||||||
Derivative Instruments (Note a) | $ | 6,768 | $ | — | $ | 6,768 | $ | — | |||||||||
Total | $ | 6,768 | $ | — | $ | 6,768 | $ | — | |||||||||
Liabilities | |||||||||||||||||
Derivative Instruments (Note b) | $ | 277,459 | $ | — | $ | 277,459 | $ | — | |||||||||
Total | $ | 277,459 | $ | — | $ | 277,459 | $ | — | |||||||||
(a) | Included in prepaid expenses and other current assets and other assets in the consolidated balance sheets. | ||||||||||||||||
(b) | Included in accrued expenses and other current liabilities and other liabilities in the consolidated balance sheets. | ||||||||||||||||
Reconciliation of Loans Held for Sale Measured at Fair Value Using Significant Unobservable Inputs | ' | ||||||||||||||||
The following table sets forth the reconciliation of loans held for sale that were outstanding as of September 30, 2012 but settled during the year ended December 31, 2012, which were measured at fair value using significant unobservable inputs: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||
Opening balance, net | $ | 360 | $ | 469 | |||||||||||||
Impact of fair value included in earnings | — | (108 | ) | ||||||||||||||
Settlements | — | (1 | ) | ||||||||||||||
Closing balance, net | $ | 360 | $ | 360 | |||||||||||||
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||||
Aggregate Notional Principal Amounts of Outstanding Derivative Financial Instruments with Related Balance Sheet Exposure | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table presents the aggregate notional principal amounts of outstanding derivative financial instruments together with the related balance sheet exposure: | |||||||||||||||||||||||||||||||||||||||||||||||||
Notional principal amounts | Balance sheet exposure asset | ||||||||||||||||||||||||||||||||||||||||||||||||
(Note a) | (liability) (Note b) | ||||||||||||||||||||||||||||||||||||||||||||||||
As of | As of | As of | As of | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Foreign exchange forward contracts denominated in: | |||||||||||||||||||||||||||||||||||||||||||||||||
United States Dollars (sell) Indian Rupees (buy) | $ | 1,706,000 | $ | 1,472,000 | $ | (160,432 | ) | $ | (269,392 | ) | |||||||||||||||||||||||||||||||||||||||
United States Dollars (sell) Mexican Peso (buy) | 8,400 | 12,300 | 306 | (422 | ) | ||||||||||||||||||||||||||||||||||||||||||||
United States Dollars (sell) Philippines Peso (buy) | 58,800 | 56,850 | 2,237 | (1,723 | ) | ||||||||||||||||||||||||||||||||||||||||||||
Euro (sell) United States Dollars (buy) | 79,501 | 45,134 | (420 | ) | (1,836 | ) | |||||||||||||||||||||||||||||||||||||||||||
Euro (sell) Hungarian Forints (buy) | 9,968 | 5,598 | (10 | ) | 51 | ||||||||||||||||||||||||||||||||||||||||||||
Euro (sell) Romanian Leu (buy) | 64,870 | 63,689 | (645 | ) | 1,433 | ||||||||||||||||||||||||||||||||||||||||||||
Japanese Yen (sell) Chinese Renminbi (buy) | 26,214 | 29,573 | 1,451 | 2,046 | |||||||||||||||||||||||||||||||||||||||||||||
Pound Sterling (sell) United States Dollars (buy) | 92,165 | 74,149 | (2,494 | ) | (2,791 | ) | |||||||||||||||||||||||||||||||||||||||||||
Australian Dollars (sell) United States Dollars (buy) | 60,626 | 59,450 | (3,424 | ) | 1,943 | ||||||||||||||||||||||||||||||||||||||||||||
$ | (163,431 | ) | $ | (270,691 | ) | ||||||||||||||||||||||||||||||||||||||||||||
(a) | Notional amounts are key elements of derivative financial instrument agreements but do not represent the amount exchanged by counterparties and do not measure the Company’s exposure to credit or market risks. However, the amounts exchanged are based on the notional amounts and other provisions of the underlying derivative financial instruments agreements. | ||||||||||||||||||||||||||||||||||||||||||||||||
(b) | Balance sheet exposure is denominated in U.S. Dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date. | ||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value of Derivative Instruments and Location in Financial Statements | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The fair value of the derivative instruments and their location in the Company’s financial statements are summarized in the table below: | |||||||||||||||||||||||||||||||||||||||||||||||||
Cash flow hedges | Non-designated | ||||||||||||||||||||||||||||||||||||||||||||||||
As of | As of | As of | As of | ||||||||||||||||||||||||||||||||||||||||||||||
December 31, | September 30, | December 31, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Assets | |||||||||||||||||||||||||||||||||||||||||||||||||
Prepaid expenses and other current assets | $ | 6,972 | $ | 4,790 | $ | 1,742 | $ | 318 | |||||||||||||||||||||||||||||||||||||||||
Other assets | $ | 1,931 | $ | 1,660 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Liabilities | |||||||||||||||||||||||||||||||||||||||||||||||||
Accrued expenses and other current liabilities | $ | 60,229 | $ | 99,486 | $ | 1,417 | $ | 11,402 | |||||||||||||||||||||||||||||||||||||||||
Other liabilities | $ | 112,430 | $ | 166,571 | $ | — | $ | — | |||||||||||||||||||||||||||||||||||||||||
Cash Flow Hedges, Gains (Losses) Recorded as Component of Other Comprehensive Income (Loss) or Other Comprehensive Income | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
In connection with cash flow hedges, the gains (losses) recorded as a component of other comprehensive income (loss), or OCI, and the related tax affect are summarized below: | |||||||||||||||||||||||||||||||||||||||||||||||||
Three months ended September 30, 2012 | Three months ended September 30, 2013 | Nine months ended September 30, 2012 | Nine months ended September 30, 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Before- | Tax | Net of | Before- | Tax | Net of | Before- | Tax | Net of | Before- | Tax | Net of tax | ||||||||||||||||||||||||||||||||||||||
Tax | (Expense) | tax | Tax | (Expense) | tax | Tax | (Expense) | tax | Tax | (Expense) | Amount | ||||||||||||||||||||||||||||||||||||||
amount | or Benefit | Amount | amount | or | Amount | amount | or | Amount | amount | or | |||||||||||||||||||||||||||||||||||||||
Benefit | Benefit | Benefit | |||||||||||||||||||||||||||||||||||||||||||||||
Opening balance | $ | (255,562 | ) | $ | 90,440 | $ | (165,122 | ) | $ | (207,373 | ) | $ | 73,239 | $ | (134,134 | ) | $ | (203,006 | ) | $ | 71,125 | $ | (131,881 | ) | $ | (163,756 | ) | $ | 59,070 | $ | (104,686 | ) | |||||||||||||||||
Net gains (losses) reclassified into statement of income on completion of hedged transactions | (15,813 | ) | 5,390 | (10,423 | ) | (23,185 | ) | 8,759 | (14,426 | ) | (22,654 | ) | 7,643 | (15,011 | ) | (44,070 | ) | 17,061 | (27,009 | ) | |||||||||||||||||||||||||||||
Changes in fair value of effective portion of outstanding derivatives, net | 99,280 | (35,676 | ) | 63,604 | (75,420 | ) | 27,031 | (48,389 | ) | 39,883 | (14,108 | ) | 25,775 | (139,922 | ) | 49,502 | (90,420 | ) | |||||||||||||||||||||||||||||||
Gain (loss) on cash flow hedging derivatives, net | 115,093 | (41,066 | ) | 74,027 | (52,235 | ) | 18,272 | (33,963 | ) | 62,537 | (21,751 | ) | 40,786 | (95,852 | ) | 32,441 | (63,411 | ) | |||||||||||||||||||||||||||||||
Closing balance as of September 30 | $ | (140,469 | ) | $ | 49,374 | $ | (91,095 | ) | $ | (259,608 | ) | $ | 91,511 | $ | (168,097 | ) | $ | (140,469 | ) | $ | 49,374 | $ | (91,095 | ) | $ | (259,608 | ) | $ | 91,511 | $ | (168,097 | ) | |||||||||||||||||
Gains (Losses) Recorded as Component of Other Comprehensive Income (Loss) or Other Comprehensive Income | ' | ||||||||||||||||||||||||||||||||||||||||||||||||
The gains or losses recognized in other comprehensive income (loss) and their effect on financial performance are summarized below:- | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | Amount of Gain | Location of | Amount of Gain (Loss) reclassified from OCI into | Location of | Amount of Gain (Loss) recognized in income on | ||||||||||||||||||||||||||||||||||||||||||||
in Cash | (Loss) recognized in | Gain (Loss) | Statement of Income (Effective Portion) | Gain (Loss) | Derivative (Ineffective Portion and | ||||||||||||||||||||||||||||||||||||||||||||
Flow | OCI on Derivatives | reclassified | recognized in | Amount excluded from Effectiveness Testing) | |||||||||||||||||||||||||||||||||||||||||||||
Hedging | (Effective Portion) | from OCI into | Income on | ||||||||||||||||||||||||||||||||||||||||||||||
Relationships | Statement of | Derivatives | |||||||||||||||||||||||||||||||||||||||||||||||
Income | (Ineffective | ||||||||||||||||||||||||||||||||||||||||||||||||
(Effective | Portion and | ||||||||||||||||||||||||||||||||||||||||||||||||
Portion) | Amount | ||||||||||||||||||||||||||||||||||||||||||||||||
excluded | |||||||||||||||||||||||||||||||||||||||||||||||||
from | |||||||||||||||||||||||||||||||||||||||||||||||||
Effectiveness | |||||||||||||||||||||||||||||||||||||||||||||||||
Testing) | |||||||||||||||||||||||||||||||||||||||||||||||||
Nine months | Three months | Nine months | Three months | Nine months | |||||||||||||||||||||||||||||||||||||||||||||
ended September 30, | ended September 30, | ended September 30, | ended September 30, | ended September 30, | |||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||
Forward foreign exchange contracts | $ | 39,883 | $ | (139,922 | ) | Revenue | $ | (1,144 | ) | $ | 2,590 | $ | (3,587 | ) | $ | 5,957 | Foreign exchange (gains) losses, net | $ | — | $ | — | — | — | ||||||||||||||||||||||||||
Cost of revenue | (11,614 | ) | (20,801 | ) | (15,025 | ) | (40,417 | ) | |||||||||||||||||||||||||||||||||||||||||
Selling, general and administrative expenses | (3,055 | ) | (4,974 | ) | (4,042 | ) | (9,610 | ) | |||||||||||||||||||||||||||||||||||||||||
$ | 39,883 | $ | (139,922 | ) | $ | (15,813 | ) | $ | (23,185 | ) | $ | (22,654 | ) | $ | (44,070 | ) | $ | — | $ | — | $ | — | $ | — | |||||||||||||||||||||||||
Non designated Hedges | |||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives not designated | Location of (Gain) Loss | Amount of (Gain) Loss recognized in Statement of | |||||||||||||||||||||||||||||||||||||||||||||||
as hedging instruments | recognized in Statement of Income on | Income on Derivatives | |||||||||||||||||||||||||||||||||||||||||||||||
Derivatives | Three months ended | Nine months ended | |||||||||||||||||||||||||||||||||||||||||||||||
September 30, | September 30, | ||||||||||||||||||||||||||||||||||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||||||||||||||||||||||||||||||||||
Forward foreign exchange contracts (Note a) | Foreign exchange (gains) losses, net | $ | (10,588 | ) | $ | 11,359 | $ | (9,002 | ) | $ | 20,944 | ||||||||||||||||||||||||||||||||||||||
$ | (10,588 | ) | $ | 11,359 | $ | (9,002 | ) | $ | 20,944 | ||||||||||||||||||||||||||||||||||||||||
(a) | These forward foreign exchange contracts were entered into to hedge the fluctuations in foreign exchange rates for recognized balance sheet items such as receivables and inter-company borrowings, and were not originally designated as hedges under FASB guidance on derivatives and hedging. Realized (gains) losses and changes in the fair value of these derivatives are recorded in foreign exchange (gains) losses, net in the consolidated statements of income. |
Property_Plant_and_Equipment_N1
Property, Plant and Equipment, Net (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property, Plant and Equipment, Net | ' | ||||||||
Property, plant and equipment, net consist of the following: | |||||||||
As of December 31, | As of September 30, | ||||||||
2012 | 2013 | ||||||||
Property, plant and equipment, gross | $ | 513,540 | $ | 486,112 | |||||
Less: Accumulated depreciation and amortization | (313,178 | ) | (317,738 | ) | |||||
Property, plant and equipment, net | $ | 200,362 | $ | 168,374 | |||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Changes in Goodwill | ' | ||||||||||||||||||||||||
The following table presents the changes in goodwill for the year ended December 31, 2012 and nine months ended September 30, 2013: | |||||||||||||||||||||||||
As of December 31, | As of September 30, | ||||||||||||||||||||||||
2012 | 2013 | ||||||||||||||||||||||||
Opening balance | $ | 925,339 | $ | 956,064 | |||||||||||||||||||||
Goodwill relating to acquisitions consummated during the period | 43,265 | 37,918 | |||||||||||||||||||||||
Adjustment to preliminary purchase accounting for acquisitions | (3,213 | ) | (362 | ) | |||||||||||||||||||||
Effect of exchange rate fluctuations | (9,327 | ) | (43,196 | ) | |||||||||||||||||||||
Closing balance | $ | 956,064 | $ | 950,424 | |||||||||||||||||||||
Intangible Assets Acquired Either Individually or with Group of Other Assets or in Business Combination | ' | ||||||||||||||||||||||||
The Company’s intangible assets acquired either individually or with a group of other assets or in a business combination are as follows: | |||||||||||||||||||||||||
As of December 31, 2012 | As of September 30, 2013 | ||||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | ||||||||||||||||||||
carrying | amortization | carrying | amortization | ||||||||||||||||||||||
amount | amount | ||||||||||||||||||||||||
Customer-related intangible assets | $ | 291,735 | $ | 206,987 | $ | 84,748 | $ | 286,716 | $ | 207,466 | $ | 79,250 | |||||||||||||
Marketing-related intangible assets | 40,386 | 18,801 | 21,585 | 40,654 | 20,026 | 20,628 | |||||||||||||||||||
Contract-related intangible assets | 1,182 | 1,182 | — | 1,028 | 1,028 | — | |||||||||||||||||||
Other intangible assets | 7,069 | 1,015 | 6,054 | 9,075 | 2,021 | 7,054 | |||||||||||||||||||
$ | 340,372 | $ | 227,985 | $ | 112,387 | $ | 337,473 | $ | 230,541 | $ | 106,932 | ||||||||||||||
Employee_Benefit_Plans_Tables
Employee Benefit Plans (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Net Defined Benefit Plan Costs | ' | ||||||||||||||||
Net defined benefit plan costs for the three months and nine months ended September 30, 2012 and 2013 include the following components: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Service costs | $ | 693 | $ | 1,528 | $ | 2,667 | $ | 3,274 | |||||||||
Interest costs | 331 | 869 | 1,246 | 1,756 | |||||||||||||
Amortization of actuarial loss | 193 | 200 | 532 | 650 | |||||||||||||
Expected return on plan assets | (187 | ) | (298 | ) | (599 | ) | (727 | ) | |||||||||
Net Gratuity Plan costs | $ | 1,030 | $ | 2,299 | $ | 3,846 | $ | 4,953 | |||||||||
Amount Contributed to Defined Contribution Plans in Various Jurisdictions | ' | ||||||||||||||||
During the three months and nine months ended September 30, 2012 and 2013, the Company contributed the following amounts to defined contribution plans in various jurisdictions: | |||||||||||||||||
Three months ended | Nine months ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
India | $ | 3,450 | $ | 3,446 | $ | 10,367 | $ | 10,935 | |||||||||
U.S. | 696 | 620 | 2,462 | 2,561 | |||||||||||||
U.K. | 345 | 405 | 1,096 | 1,352 | |||||||||||||
Hungary | 6 | 6 | 52 | 18 | |||||||||||||
China | 3,092 | 3,899 | 8,670 | 10,781 | |||||||||||||
Mexico | 4 | 3 | 25 | 23 | |||||||||||||
Morocco | 33 | 20 | 122 | 71 | |||||||||||||
South Africa | 82 | 46 | 246 | 172 | |||||||||||||
Hong Kong | 10 | 4 | 27 | 15 | |||||||||||||
Philippines | 5 | 3 | 11 | 11 | |||||||||||||
Singapore | — | 2 | — | 8 | |||||||||||||
Netherlands | 411 | 345 | 840 | 1,427 | |||||||||||||
Japan | 107 | 611 | 320 | 1,577 | |||||||||||||
Total | $ | 8,241 | $ | 9,410 | $ | 24,238 | $ | 28,951 | |||||||||
Stockbased_Compensation_Tables
Stock-based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Share-based Payment Award, Stock Options, Valuation Assumptions | ' | ||||||||||||||||
The following table shows the significant assumptions used in connection with the determination of the fair value of options granted in the nine months ended September 30, 2013. No options were granted in the nine months ended September 30, 2012. | |||||||||||||||||
Nine months ended | |||||||||||||||||
September 30, 2013 | |||||||||||||||||
Dividend Yield | 0 | % | |||||||||||||||
Expected life (in months) | 84 | ||||||||||||||||
Risk free rate of interest | 1.55 | % | |||||||||||||||
Volatility | 39.39 | % | |||||||||||||||
Summary of Options Activity | ' | ||||||||||||||||
A summary of options activity during the nine months ended September 30, 2013 is set out below: | |||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Shares arising | Weighted average | Weighted average | Aggregate | ||||||||||||||
out of options | exercise price | remaining | intrinsic | ||||||||||||||
contractual life | value | ||||||||||||||||
(years) | |||||||||||||||||
Outstanding as of January 1, 2013 | 12,413,298 | $ | 9.29 | 4.2 | |||||||||||||
Granted | 3,483,000 | 19.35 | |||||||||||||||
Forfeited | (63,056 | ) | 10.47 | ||||||||||||||
Expired | (67,978 | ) | 13.79 | ||||||||||||||
Exercised | (3,784,851 | ) | 8.76 | 38,149 | |||||||||||||
Outstanding as of September 30, 2013 | 11,980,413 | $ | 12.35 | 5.32 | $ | 80,652 | |||||||||||
Vested as of September 30, 2013 and expected to vest thereafter (a) | 11,596,240 | $ | 12.07 | 5.32 | $ | 80,471 | |||||||||||
Vested and Exercisable as of September 30, 2013 | 7,547,192 | $ | 9.27 | 3.24 | $ | 72,524 | |||||||||||
Weighted average grant date fair value of grants during the period | $ | 19.35 | |||||||||||||||
(a) | Options expected to vest reflect an estimated forfeiture rate. | ||||||||||||||||
Summary of Restricted Share Units Granted | ' | ||||||||||||||||
A summary of RSUs granted during the nine months ended September 30, 2013 is set out below: | |||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Number of Restricted Share | Weighted Average Grant Date | ||||||||||||||||
Units | Fair Value | ||||||||||||||||
Outstanding as of January 1, 2013 | 1,688,402 | $ | 13.74 | ||||||||||||||
Granted | 91,623 | 19.52 | |||||||||||||||
Vested* | (294,451 | ) | 14.49 | ||||||||||||||
Forfeited | (190,665 | ) | 13.62 | ||||||||||||||
Outstanding as of September 30, 2013 | 1,294,909 | $ | 14 | ||||||||||||||
Expected to vest (a) | 1,165,351 | ||||||||||||||||
(a) | RSUs expected to vest reflect an estimated forfeiture rate. | ||||||||||||||||
* | Vested RSUs have been net settled upon vesting by issuing 188,966 shares (net of minimum statutory withholding taxes). | ||||||||||||||||
Summary of Performance Units Activity | ' | ||||||||||||||||
A summary of PUs activity during the nine months ended September 30, 2013 is set out below: | |||||||||||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Number of | Weighted | Maximum Shares Eligible to | |||||||||||||||
Performance Units | Average Grant | Receive | |||||||||||||||
Date Fair | |||||||||||||||||
Value | |||||||||||||||||
Outstanding as of January 1, 2013 | 3,041,511 | $ | 13.26 | 4,402,597 | |||||||||||||
Granted | 2,025,090 | 18.57 | 3,694,635 | ||||||||||||||
Vested | — | — | — | ||||||||||||||
Forfeited | (200,654 | ) | 15.13 | (256,064 | ) | ||||||||||||
Addition due to achievement of higher than target performance goals* | 297,911 | 17.5 | |||||||||||||||
Reduction due to achievement of lower than maximum performance goals** | (373,702 | ) | |||||||||||||||
Outstanding as of September 30, 2013 | 5,163,858 | $ | 15.51 | 7,467,466 | |||||||||||||
Expected to vest (a) | 2,542,867 | ||||||||||||||||
(a) | PUs expected to vest are based on the probable achievement of the performance targets after considering an estimated forfeiture rate | ||||||||||||||||
* | Represents the additional award of 22.2% of the target shares on account of the achievement of higher than target performance for the PUs granted in March 2012. | ||||||||||||||||
** | Represents a 27.8% reduction in the maximum shares eligible to vest on account of the certification of the performance goals for the PUs granted in 2012. | ||||||||||||||||
Modification of Performance Metrics for Performance Grants Made to Employees | ' | ||||||||||||||||
Original Performance Target | Modified Performance Target | ||||||||||||||||
Performance Level | Revenue | EBITDA | Revenue | Adjusted Income from | |||||||||||||
Growth | Growth | Growth | Operation growth | ||||||||||||||
Outstanding | 20 | % | 20 | % | 20 | % | 20 | % | |||||||||
Target | 15 | % | 15 | % | 15 | % | 15 | % | |||||||||
Threshold | 10 | % | 10 | % | 10 | % | 10 | % | |||||||||
Modification of Performance Metrics for Performance Grants Made to Former Chief Executive Officer | ' | ||||||||||||||||
Original Performance Target | Modified Performance Target | ||||||||||||||||
Performance Level | Revenue | EBITDA | Revenue | Adjusted Income from | |||||||||||||
Growth | Growth | Growth | Operation growth | ||||||||||||||
Outstanding | 20 | % | 20 | % | 17 | % | 16 | % | |||||||||
Target | 15 | % | 15 | % | 12.5 | % | 12.5 | % | |||||||||
Threshold | 10 | % | 10 | % | 8 | % | 7 | % |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Net income available to Genpact Limited common shareholders | $ | 25,175 | $ | 70,262 | $ | 124,815 | $ | 180,875 | |||||||||
Weighted average number of common shares used in computing basic earnings per common share | 223,876,035 | 230,057,508 | 223,289,507 | 228,840,746 | |||||||||||||
Dilutive effect of stock-based awards | 6,319,799 | 6,279,416 | 5,226,884 | 6,254,914 | |||||||||||||
Weighted average number of common shares used in computing dilutive earnings per common share | 230,195,834 | 236,336,924 | 228,516,391 | 235,095,660 | |||||||||||||
Earnings per common share attributable to Genpact Limited common shareholders | |||||||||||||||||
Basic | $ | 0.11 | $ | 0.31 | $ | 0.56 | $ | 0.79 | |||||||||
Diluted | $ | 0.11 | $ | 0.3 | $ | 0.55 | $ | 0.77 |
Longterm_Debt_Tables
Long-term Debt (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Maturity Profile of Term Loan Net of Debt Amortization Expense | ' | ||||
The maturity profile of the term loan, net of debt amortization expense, is as follows: | |||||
Year Ended | Amount | ||||
2013 | $ | 1,056 | |||
2014 | $ | 4,263 | |||
2015 | $ | 4,288 | |||
2016 | $ | 4,306 | |||
2017 | $ | 4,338 | |||
2018 | $ | 4,363 | |||
2019 | $ | 636,306 | |||
$ | 658,920 | ||||
Cost_of_Revenue_Tables
Cost of Revenue (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Cost of Revenue | ' | ||||||||||||||||
Cost of revenue consists of the following: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Personnel expenses | $ | 203,011 | $ | 223,976 | $ | 583,649 | $ | 671,518 | |||||||||
Operational expenses | 82,227 | 93,235 | 228,256 | 265,894 | |||||||||||||
Depreciation and amortization | 12,015 | 12,078 | 36,035 | 36,317 | |||||||||||||
$ | 297,253 | $ | 329,289 | $ | 847,940 | $ | 973,729 | ||||||||||
Selling_General_and_Administra1
Selling, General and Administrative Expenses (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Selling, General and Administrative Expenses | ' | ||||||||||||||||
Selling, general and administrative expenses consist of the following: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Personnel expenses | $ | 80,421 | $ | 83,580 | $ | 230,917 | $ | 251,379 | |||||||||
Operational expenses | 35,916 | 31,318 | 100,318 | 90,865 | |||||||||||||
Depreciation and amortization | 2,199 | 2,107 | 6,559 | 6,388 | |||||||||||||
$ | 118,536 | $ | 117,005 | $ | 337,794 | $ | 348,632 | ||||||||||
Other_Operating_Income_Expense1
Other Operating (Income) Expense, Net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Operating (Income) Expense, Net | ' | ||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Other operating (income) expense | $ | (789 | ) | $ | (1,051 | ) | $ | (2,302 | ) | $ | (2,260 | ) | |||||
Provision for impairment of capital work in progress / property, plant and equipment | 2,121 | — | 2,121 | 2,392 | |||||||||||||
Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions) | (1,930 | ) | (2,181 | ) | (1,930 | ) | (4,452 | ) | |||||||||
Other operating (income) expense, net | $ | (598 | ) | $ | (3,232 | ) | $ | (2,111 | ) | $ | (4,320 | ) | |||||
Other_Income_Expense_Net_Table
Other Income (Expense), Net (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income (Expense), Net | ' | ||||||||||||||||
Other income (expense), net consists of the following: | |||||||||||||||||
Three months ended September 30, | Nine months ended September 30, | ||||||||||||||||
2012 | 2013 | 2012 | 2013 | ||||||||||||||
Interest income | $ | 2,455 | $ | 4,355 | $ | 7,965 | $ | 14,114 | |||||||||
Interest expense* | (11,022 | ) | (8,134 | ) | (17,987 | ) | (30,861 | ) | |||||||||
Provision (created) reversed for loss on divestitures | — | 141 | — | (3,520 | ) | ||||||||||||
Other income (expense)** | (6,365 | ) | 184 | (5,733 | ) | 1,163 | |||||||||||
Other income (expense), net | $ | (14,932 | ) | $ | (3,454 | ) | $ | (15,755 | ) | $ | (19,104 | ) | |||||
* | Three months ended September 30, 2012 and 2013 include $5,534 and $0, respectively, and nine months ended September 30, 2012 and 2013 include $5,534 and $3,157, respectively, representing acceleration of the amortization of debt issuance costs relating to the prepayment and termination of the previous credit facility in August 2012 and amendment of the new credit facility in June 2013, respectively, as described in Note 14. | ||||||||||||||||
** | Three months and nine months ended September 30, 2012 include $6,607, representing 2012 recapitalization expenses, as described in Note 1. |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Activities Related to Unrecognized Tax Benefits for Uncertain Tax Positions | ' | ||||
The following table summarizes the activities related to the Company’s unrecognized tax benefits for uncertain tax positions from January 1, 2013 to September 30, 2013: | |||||
Opening Balance at January 1, 2013 | $ | 21,024 | |||
Increase related to prior year tax positions, including recorded against goodwill | 1,503 | ||||
Decrease related to prior year tax positions | (719 | ) | |||
Increase related to current year tax positions | 1,217 | ||||
Effect of exchange rate changes | (2,036 | ) | |||
Closing Balance at September 30, 2013 | $ | 20,989 | |||
Organization_Additional_Inform
Organization - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||
In Thousands, except Share data, unless otherwise specified | Aug. 30, 2012 | Aug. 01, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | 31-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Aug. 31, 2007 | Mar. 24, 2010 | Dec. 31, 2012 | Dec. 14, 2012 | Dec. 14, 2012 | Oct. 25, 2012 | Oct. 25, 2012 | Oct. 25, 2012 |
Employee | Fortune Global 500 | Selling, General and Administrative Expenses | Other income (expense) | Existing Shareholders | General Electric Company | General Electric Company | General Atlantic | Oak Hill Capital Partners | Bain Purchaser | Bain Co-Investor | GIC Purchaser | ||||||
Country | Minimum | Maximum | |||||||||||||||
Customer | |||||||||||||||||
Organization [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of years of service | ' | ' | '15 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of professionals around the globe, minimum | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of countries in which entity operates | ' | ' | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of clients | ' | ' | ' | ' | ' | ' | 100 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares sold | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17,647,059 | ' | ' | ' | ' | ' | ' | ' |
Percent of ownership held | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.10% | 5.00% | 2.40% | 2.40% | ' | ' | ' |
Common stock shares to be purchased by affiliates of Bain Capital Partners | ' | 67,750,678 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of common shares, per share amount | ' | $14.76 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale Value of common stock shares to be purchased by affiliates of Bain Capital Partners | ' | $1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declaration of special cash dividend, declared date | ' | 30-Aug-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declaration of special cash dividend, payment date | ' | 24-Sep-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Declaration of special cash dividend, record date | ' | 10-Sep-12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common shares sold by selling shareholder | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 57,537,264 | 50,812 | 10,162,602 |
Termination of credit facility | 380,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
New credit facility agreement | 925,000 | ' | ' | ' | ' | 380,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend per share | $2.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend paid | 501,620 | ' | ' | 501,620 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total expenses incurred for 2012 recapitalization | ' | ' | ' | ' | 23,464 | ' | ' | 6,237 | 17,227 | ' | ' | ' | ' | ' | ' | ' | ' |
Reimbursement of expenses relating to 2012 recapitalization | ' | ' | ' | ' | ' | ' | ' | ' | $17,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated_Useful_Lives_of_Inta
Estimated Useful Lives of Intangible Assets Acquired (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Customer-Related Intangible Assets | Minimum | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '1 year |
Customer-Related Intangible Assets | Maximum | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '14 years |
Marketing-Related Intangible Assets | Minimum | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '1 year |
Marketing-Related Intangible Assets | Maximum | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '10 years |
Contract-Related Intangible Assets | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '1 year |
Other Intangible Assets | Minimum | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '3 years |
Other Intangible Assets | Maximum | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' |
Intangible assets estimated useful lives | '9 years |
Summary_of_Significant_Account3
Summary of Significant Accounting Policies - Additional Information (Detail) (General Electric Company) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | |
General Electric Company | ' | ' | ' | ' | ' |
Schedule Of Significant Accounting Policies [Line Items] | ' | ' | ' | ' | ' |
Percentage of accounts receivables | 27.00% | ' | 27.00% | ' | 30.00% |
Percentage of revenues | 22.00% | 26.00% | 23.00% | 26.00% | ' |
Business_Acquisitions_and_Dive2
Business Acquisitions and Divestures - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 6 Months Ended | 1 Months Ended | 3 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2011 | Feb. 22, 2013 | Sep. 13, 2013 | Jun. 30, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Sep. 30, 2013 | Sep. 04, 2012 | Jun. 30, 2013 | Jun. 30, 2013 | Jun. 30, 2013 | Aug. 17, 2012 | Jun. 30, 2013 | Apr. 25, 2012 | Mar. 31, 2013 | Mar. 28, 2013 | Sep. 30, 2013 | Mar. 14, 2011 | Sep. 30, 2013 | Aug. 24, 2011 | Sep. 30, 2013 | Oct. 03, 2011 | Sep. 30, 2013 | Aug. 30, 2013 |
Hello Communications (Shanghai) Co., Ltd. | Clearbizz B.V. | Gantthead.com, Inc | Jawood Business Process Solutions, LLC | Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Atyati Technologies Private Limited | Atyati Technologies Private Limited | Atyati Technologies Private Limited | Atyati Technologies Private Limited | Triumph Engineering Corporation and Triumph On-Demand Inc | Triumph Engineering Corporation and Triumph On-Demand Inc | Accounting Plaza B.V. ("Accounting Plaza") | Accounting Plaza B.V. ("Accounting Plaza") | NGEN Media Services Private Limited | NGEN Media Services Private Limited | Akritiv Technologies, Inc. | Akritiv Technologies, Inc. | High Performance Partners LLC | High Performance Partners LLC | Empower Research, LLC | Empower Research, LLC | Third Pillar System Inc | ||||||
Deferred Tax Asset | Other Noncurrent Assets | ||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Enterprise value | ' | ' | ' | ' | ' | ' | $1 | ' | $51,000 | $2,295 | ' | ' | $19,368 | ' | ' | ' | $3,600 | ' | $38,698 | ' | $158 | ' | ' | ' | ' | ' | ' | ' | $2,500 |
Held back amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 225 |
Intangible assets estimated weighted average useful life | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 years | ' | '7 years | ' | ' | ' | '8 years | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 years |
Percent ownership interest acquired | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 100.00% | ' | ' | 100.00% | ' | ' | ' | 100.00% | ' | 100.00% | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, date | ' | ' | ' | ' | ' | ' | ' | ' | 6-Feb-13 | ' | ' | ' | 4-Sep-12 | ' | ' | ' | 17-Aug-12 | ' | 25-Apr-12 | ' | 28-Mar-13 | ' | 14-Mar-11 | ' | 24-Aug-11 | ' | 3-Oct-11 | ' | ' |
Percent ownership held, before acquisition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' |
Business acquisition, loss on re-measurement from equity interest to fair value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | ' | ' | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,364 | 1,364 | 2,000 | ' | ' | ' | 312 | ' | 1,664 | ' | 432 | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in goodwill | ' | -362 | ' | -3,213 | ' | ' | ' | ' | ' | ' | ' | -1,089 | ' | 633 | ' | ' | ' | -13 | ' | 107 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Seller expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,379 | 1,379 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payment for business acquisitions, net of cash acquired | ' | 49,235 | 53,931 | ' | ' | ' | ' | ' | ' | ' | ' | 47,212 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill deductible for tax purposes | 39,260 | 39,260 | ' | 6,779 | ' | ' | ' | ' | ' | ' | 32,656 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date discounted value of deferred consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,539 | ' | ' | ' | 379 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent earn-out component-Low end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contingent earn-out component-High end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 14,372 | ' | ' | ' | 4,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition date fair value of earn-out consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,487 | ' | ' | ' | 3,256 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Increase (decrease) in asset due to measurement period adjustment | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -827 | 194 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill | 950,424 | 950,424 | ' | 956,064 | 925,339 | ' | ' | ' | ' | ' | 34,826 | ' | 13,939 | ' | ' | ' | 4,504 | ' | 25,549 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,003 |
Fair value of trade receivables acquired in business combination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,744 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Gross amount of trade receivables acquired in business combination | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,917 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Trade receivables uncollectible amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 173 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Business Acquisition contingent consideration payment | ' | 3,868 | 587 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,274 | ' | 85 | ' | 1,499 | ' |
Payment of deferred consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 811 | ' |
Cash consideration | ' | ' | ' | ' | ' | 998 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Loss on sale | ' | ' | ' | ' | ' | 447 | 1,184 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Balance of cash & cash equivalents | ' | ' | ' | ' | ' | 2,047 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from divestiture of business, net of cash divested (refer note 3C(a)) | ' | -1,049 | ' | ' | ' | -1,049 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Provision for loss on divestiture | ($141) | $3,520 | ' | ' | ' | ' | ' | $2,336 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchase_Price_Allocation_Base
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed, Third Pillar Systems Inc. (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 30, 2013 |
In Thousands, unless otherwise specified | Third Pillar System Inc | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Cash consideration | ' | ' | ' | $2,500 |
Recognized amounts of identifiable assets acquired and liabilities assumed | ' | ' | ' | ' |
Current assets | ' | ' | ' | 375 |
Intangible assets | ' | ' | ' | 298 |
Other non-current assets | ' | ' | ' | 24 |
Current liabilities | ' | ' | ' | -200 |
Total identifiable net assets acquired | ' | ' | ' | 497 |
Goodwill | 950,424 | 956,064 | 925,339 | 2,003 |
Total | ' | ' | ' | $2,500 |
Purchase_Price_Allocation_Base1
Purchase Price Allocation Based on Fair Value Of Assets Acquired and Liabilities Assumed, NGEN Media Services Private Limited (Detail) (NGEN Media Services Private Limited, USD $) | Mar. 28, 2013 |
In Thousands, unless otherwise specified | |
NGEN Media Services Private Limited | ' |
Business Acquisition [Line Items] | ' |
Cash consideration | $158 |
Acquisition date fair value of the Company's investment in NGEN held before the business combination | 158 |
Total | 316 |
Recognized amounts of identifiable assets acquired & liabilities assumed | ' |
Cash and cash equivalents | 432 |
Current assets | 402 |
Tangible fixed assets | 27 |
Other non-current assets | 89 |
Current liabilities | -337 |
Other liabilities | -274 |
Total identifiable net assets acquired | 339 |
Gain recognized on acquisition | -23 |
Total | $316 |
Purchase_Consideration_Jawood_
Purchase Consideration, Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited (Detail) (Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited, USD $) | Sep. 30, 2013 | Feb. 06, 2013 |
In Thousands, unless otherwise specified | ||
Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Base purchase price | ' | $53,295 |
Closing date net working capital adjustment | ' | -3,821 |
Closing date indebtedness adjustment | ' | -2,202 |
Closing date cash adjustment | ' | 1,304 |
Seller expenses | -1,379 | -1,379 |
Total purchase price | ' | $47,197 |
Purchase_Price_Allocated_Based
Purchase Price Allocated Based on Fair Value of Assets Acquired and Liabilities Assumed, Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 30, 2013 | Feb. 06, 2013 |
In Thousands, unless otherwise specified | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Purchase price | ' | ' | ' | ' | $47,197 |
Acquisition related costs included in selling, general and administrative expenses | ' | ' | ' | ' | 310 |
Recognized amounts of identifiable assets acquired and liabilities assumed | ' | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 1,364 | 1,364 |
Current assets | ' | ' | ' | ' | 6,477 |
Tangible fixed assets | ' | ' | ' | ' | 704 |
Intangible assets | ' | ' | ' | ' | 11,200 |
Other non-current assets | ' | ' | ' | ' | 548 |
Current liabilities | ' | ' | ' | ' | -7,866 |
Long term liabilities | ' | ' | ' | ' | -56 |
Total identifiable net assets acquired | ' | ' | ' | ' | 12,371 |
Goodwill | 950,424 | 956,064 | 925,339 | ' | 34,826 |
Total | ' | ' | ' | ' | $47,197 |
Fair_Value_and_Estimated_Usefu
Fair Value and Estimated Useful Lives of Intangibles, Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited (Detail) (USD $) | 9 Months Ended | 1 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Feb. 06, 2013 | Feb. 06, 2013 |
Customer-Related Intangible Assets | Customer-Related Intangible Assets | Marketing-Related Intangible Assets | Marketing-Related Intangible Assets | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | Jawood Business Process Solutions, LLC and Felix Software Solutions Private Limited | |
Minimum | Maximum | Minimum | Maximum | Customer-Related Intangible Assets | Customer-Related Intangible Assets | Customer-Related Intangible Assets | Marketing-Related Intangible Assets | Marketing-Related Intangible Assets | Marketing-Related Intangible Assets | |
Minimum | Maximum | Minimum | Maximum | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets value | ' | ' | ' | ' | $10,200 | ' | ' | $1,000 | ' | ' |
Intangible assets estimated useful lives | '1 year | '14 years | '1 year | '10 years | ' | '1 year | '7 years | ' | '1 year | '5 years |
Purchase_Consideration_Atyati_
Purchase Consideration, Atyati Technologies Private Limited (Detail) (Atyati Technologies Private Limited, USD $) | Sep. 04, 2012 |
In Thousands, unless otherwise specified | |
Atyati Technologies Private Limited | ' |
Business Acquisition [Line Items] | ' |
Cash consideration | $19,368 |
Acquisition date discounted value of deferred consideration | 2,539 |
Acquisition date fair value of earn-out consideration | 1,487 |
Working capital adjustment | ' |
Total | $23,394 |
Purchase_Price_Allocation_Base2
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed, Atyati Technologies Private Limited (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Sep. 04, 2012 |
In Thousands, unless otherwise specified | Atyati Technologies Private Limited | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Purchase price | ' | ' | ' | $23,394 |
Acquisition related costs included in selling, general and administrative expenses | ' | ' | ' | 164 |
Recognized amounts of identifiable assets acquired and liabilities assumed | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 2,000 |
Current assets | ' | ' | ' | 5,265 |
Tangible fixed assets | ' | ' | ' | 426 |
Intangible assets | ' | ' | ' | 8,767 |
Deferred tax asset/ (liability), net | ' | ' | ' | -2,557 |
Other non-current assets | ' | ' | ' | 369 |
Current liabilities | ' | ' | ' | -3,424 |
Short term borrowings | ' | ' | ' | -654 |
Other liabilities | ' | ' | ' | -737 |
Total identifiable net assets acquired | ' | ' | ' | 9,455 |
Goodwill | 950,424 | 956,064 | 925,339 | 13,939 |
Total | ' | ' | ' | $23,394 |
Fair_Value_and_Estimated_Usefu1
Fair Value and Estimated Useful Lives of Intangibles, Atyati Technologies Private Limited (Detail) (USD $) | 9 Months Ended | 1 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 04, 2012 | Sep. 04, 2012 | Sep. 04, 2012 | Sep. 04, 2012 |
Customer-Related Intangible Assets | Customer-Related Intangible Assets | Other Intangible Assets | Other Intangible Assets | Atyati Technologies Private Limited | Atyati Technologies Private Limited | Atyati Technologies Private Limited | Atyati Technologies Private Limited | |
Minimum | Maximum | Minimum | Maximum | Customer-Related Intangible Assets | Customer-Related Intangible Assets | Customer-Related Intangible Assets | Other Intangible Assets | |
Minimum | Maximum | |||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Intangible assets value | ' | ' | ' | ' | $5,408 | ' | ' | $3,359 |
Intangible assets estimated useful lives | '1 year | '14 years | '3 years | '9 years | ' | '4 years | '9 years | '7 years |
Purchase_Consideration_Triumph
Purchase Consideration, Triumph (Detail) (Triumph Engineering Corporation and Triumph On-Demand Inc, USD $) | Aug. 17, 2012 |
In Thousands, unless otherwise specified | |
Triumph Engineering Corporation and Triumph On-Demand Inc | ' |
Business Acquisition [Line Items] | ' |
Cash consideration | $3,600 |
Acquisition date fair value of deferred consideration | 379 |
Acquisition date fair value of earn-out consideration | 3,256 |
Working capital adjustment | -848 |
Closing indebtedness adjustment | -941 |
Total | $5,446 |
Purchase_Price_Allocation_Base3
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed, Triumph (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Aug. 17, 2012 |
In Thousands, unless otherwise specified | Triumph Engineering Corporation and Triumph On-Demand Inc | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Purchase price | ' | ' | ' | $5,446 |
Acquisition related costs included in selling, general and administrative expenses | ' | ' | ' | 134 |
Recognized amounts of identifiable assets acquirred and liabilities assumed | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 312 |
Current assets | ' | ' | ' | 1,708 |
Tangible fixed assets | ' | ' | ' | 175 |
Intangible assets | ' | ' | ' | 382 |
Deferred tax asset/ (liability), net | ' | ' | ' | -565 |
Current liabilities | ' | ' | ' | -720 |
Short term borrowing | ' | ' | ' | -350 |
Total identifiable net assets acquired | ' | ' | ' | 942 |
Goodwill | 950,424 | 956,064 | 925,339 | 4,504 |
Total | ' | ' | ' | $5,446 |
Fair_Value_and_Estimated_Usefu2
Fair Value and Estimated Useful Lives of Intangibles, Triumph (Detail) (Customer-Related Intangible Assets, USD $) | 9 Months Ended | 1 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 17, 2012 | Aug. 17, 2012 | Aug. 17, 2012 |
Minimum | Maximum | Triumph Engineering Corporation and Triumph On-Demand Inc | Triumph Engineering Corporation and Triumph On-Demand Inc | Triumph Engineering Corporation and Triumph On-Demand Inc | |
Minimum | Maximum | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Intangible assets value | ' | ' | $382 | ' | ' |
Intangible assets estimated useful lives | '1 year | '14 years | ' | '1 year | '10 years |
Purchase_Consideration_Account
Purchase Consideration, Accounting Plaza (Detail) (Accounting Plaza B.V. ("Accounting Plaza"), USD $) | Apr. 25, 2012 |
In Thousands, unless otherwise specified | |
Accounting Plaza B.V. ("Accounting Plaza") | ' |
Business Acquisition [Line Items] | ' |
Base consideration | $38,698 |
Adjustment for transfer of pension funds | ' |
Adjustment for underfunding in pension funds | ' |
Adjustment for sellers warranty breaches and certain other transactions | ' |
Adjustment for transaction costs | ' |
Total | $38,698 |
Purchase_Price_Allocation_Base4
Purchase Price Allocation Based on Fair Value of Assets Acquired and Liabilities Assumed, Accounting Plaza (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Apr. 25, 2012 |
In Thousands, unless otherwise specified | Accounting Plaza B.V. ("Accounting Plaza") | |||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Purchase consideration | ' | ' | ' | $38,698 |
Acquisition related costs included in selling, general and administrative expenses | ' | ' | ' | 434 |
Recognized amounts of identifiable assets acquired and liabilities assumed | ' | ' | ' | ' |
Cash and cash equivalents | ' | ' | ' | 1,664 |
Current assets | ' | ' | ' | 11,327 |
Tangible fixed assets | ' | ' | ' | 2,010 |
Intangible assets | ' | ' | ' | 13,138 |
Deferred tax asset/ (liability), net | ' | ' | ' | -2,711 |
Other non-current assets | ' | ' | ' | 971 |
Current liabilities | ' | ' | ' | -9,062 |
Other liabilities | ' | ' | ' | -4,188 |
Total identifiable net assets acquired | ' | ' | ' | 13,149 |
Goodwill | 950,424 | 956,064 | 925,339 | 25,549 |
Total | ' | ' | ' | $38,698 |
Fair_Value_and_Estimated_Usefu3
Fair Value and Estimated Useful Lives of Intangibles, Accounting Plaza (Detail) (Customer-Related Intangible Assets, USD $) | 9 Months Ended | 1 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 25, 2012 | Apr. 25, 2012 | Apr. 25, 2012 |
Minimum | Maximum | Accounting Plaza B.V. ("Accounting Plaza") | Accounting Plaza B.V. ("Accounting Plaza") | Accounting Plaza B.V. ("Accounting Plaza") | |
Minimum | Maximum | ||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' |
Intangible assets value | ' | ' | $13,138 | ' | ' |
Intangible assets estimated useful lives | '1 year | '14 years | ' | '3 years | '10 years |
ReMeasured_Fair_Value_of_EarnO
Re-Measured Fair Value of Earn-Out Consideration with Corresponding Changes in Consolidated Statements of Income (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Schedule of Changes in Fair Value of Contingent Consideration [Line Items] | ' |
Decrease in fair value of earn out consideration | ($4,452) |
Empower Research, LLC | ' |
Schedule of Changes in Fair Value of Contingent Consideration [Line Items] | ' |
Decrease in fair value of earn out consideration | -145 |
Triumph Engineering Corporation and Triumph On-Demand Inc | ' |
Schedule of Changes in Fair Value of Contingent Consideration [Line Items] | ' |
Decrease in fair value of earn out consideration | -2,150 |
Atyati Technologies Private Limited | ' |
Schedule of Changes in Fair Value of Contingent Consideration [Line Items] | ' |
Decrease in fair value of earn out consideration | -1,794 |
High Performance Partners LLC | ' |
Schedule of Changes in Fair Value of Contingent Consideration [Line Items] | ' |
Decrease in fair value of earn out consideration | ($363) |
Cash_and_Cash_Equivalents_Deta
Cash and Cash Equivalents (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
In Thousands, unless otherwise specified | ||||
Cash and Cash Equivalents [Line Items] | ' | ' | ' | ' |
Deposits with banks | $245,909 | $283,660 | ' | ' |
Other cash and bank balances | 235,589 | 175,568 | ' | ' |
Total | $481,498 | $459,228 | $394,503 | $408,020 |
Cash_and_Cash_Equivalents_Addi
Cash and Cash Equivalents - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash and Cash Equivalents [Line Items] | ' | ' |
Restricted cash balances | $874 | $628 |
Reserve_for_Doubtful_Receivabl
Reserve for Doubtful Receivables (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Provisions for Doubtful Accounts [Line Items] | ' | ' | ' |
Opening balance | $9,073 | $8,704 | $8,704 |
Additions due to acquisitions | ' | ' | 184 |
Additions charged to cost and expense | 8,919 | 2,780 | 3,878 |
Deductions | -3,473 | ' | -3,693 |
Closing balance | $14,519 | ' | $9,073 |
Accounts_Receivable_Net_of_Res2
Accounts Receivable, Net of Reserve for Doubtful Receivables - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ' | ' |
Gross accounts receivable | $491,579 | $461,062 |
Reserve for doubtful receivables | 14,519 | 9,073 |
Net accounts receivable | 477,060 | 451,989 |
Accounts receivable due after one year | 17,006 | 19,140 |
Accounts receivable from related parties | 63 | 64 |
Reserve for doubtful receivables from related parties | 0 | 35 |
Net accounts receivable from related parties | $63 | $29 |
Fair_Value_of_Assets_and_Liabi
Fair Value of Assets and Liabilities Measured on Recurring Basis, Including Derivative Instruments, U.S. Treasury Bills and Notes, and Loans Held for Sale (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative instrument, asset | $6,768 | [1] | $10,645 | [1] |
Total, assets | 6,768 | 10,645 | ||
Derivative instrument, liability | 277,459 | [2] | 174,076 | [2] |
Total, liabilities | 277,459 | 174,076 | ||
Significant Other Observable Inputs (Level 2) | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring Basis [Line Items] | ' | ' | ||
Derivative instrument, asset | 6,768 | [1] | 10,645 | [1] |
Total, assets | 6,768 | 10,645 | ||
Derivative instrument, liability | 277,459 | [2] | 174,076 | [2] |
Total, liabilities | $277,459 | $174,076 | ||
[1] | Included in prepaid expenses and other current assets and other assets in the consolidated balance sheets. | |||
[2] | Included in accrued expenses and other current liabilities and other liabilities in the consolidated balance sheets. |
Reconciliation_of_Loans_Held_f
Reconciliation of Loans Held for Sale Measured at Fair Value Using Significant Unobservable Inputs (Detail) (USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | ' | ' |
Opening balance, net | $360 | $469 |
Impact of fair value included in earnings | 0 | -108 |
Settlements | 0 | -1 |
Closing balance, net | $360 | $360 |
Derivative_Financial_Instrumen2
Derivative Financial Instruments - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Derivative [Line Items] | ' |
Forward foreign exchange contracts, minimum maturity period | '0 months |
Forward foreign exchange contracts, maximum maturity period | '51 months |
Aggregate_Notional_Principal_A
Aggregate Notional Principal Amounts of Outstanding Derivative Financial Instruments with Related Balance Sheet Exposure (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Derivative [Line Items] | ' | ' | ||
Derivative financial instrument, balance sheet exposure asset (liability) | ($270,691) | [1] | ($163,431) | [1] |
United States Dollars (sell) Indian Rupees (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 1,472,000 | [2] | 1,706,000 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | -269,392 | [1] | -160,432 | [1] |
United States Dollars (sell) Mexican Peso (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 12,300 | [2] | 8,400 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | -422 | [1] | 306 | [1] |
United States Dollars (sell) Philippines Peso (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 56,850 | [2] | 58,800 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | -1,723 | [1] | 2,237 | [1] |
Euro (sell) United States Dollars (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 45,134 | [2] | 79,501 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | -1,836 | [1] | -420 | [1] |
Euro (sell) Hungarian Forints (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 5,598 | [2] | 9,968 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | 51 | [1] | -10 | [1] |
Euro (Sell) Romanian Leu (Buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 63,689 | [2] | 64,870 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | 1,433 | [1] | -645 | [1] |
Japanese Yen (sell) Chinese Renminbi (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 29,573 | [2] | 26,214 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | 2,046 | [1] | 1,451 | [1] |
Pound Sterling (sell) United States Dollars (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 74,149 | [2] | 92,165 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | -2,791 | [1] | -2,494 | [1] |
Australian Dollars (sell) United States Dollars (buy) | ' | ' | ||
Derivative [Line Items] | ' | ' | ||
Derivative instrument notional principal amount | 59,450 | [2] | 60,626 | [2] |
Derivative financial instrument, balance sheet exposure asset (liability) | $1,943 | [1] | ($3,424) | [1] |
[1] | Balance sheet exposure is denominated in U.S. Dollars and denotes the mark-to-market impact of the derivative financial instruments on the reporting date. | |||
[2] | Notional amounts are key elements of derivative financial instrument agreements but do not represent the amount exchanged by counterparties and do not measure the Company's exposure to credit or market risks. However, the amounts exchanged are based on the notional amounts and other provisions of the underlying derivative financial instruments agreements. |
Fair_Value_of_Derivative_Instr
Fair Value of Derivative Instruments and Location in Financial Statements (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Cash Flow Hedging | Prepaid Expenses and Other Current Assets | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of assets | $4,790 | $6,972 |
Cash Flow Hedging | Other Assets | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of assets | 1,660 | 1,931 |
Cash Flow Hedging | Accrued Expenses and Other Current Liabilities | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of liabilities | 99,486 | 60,229 |
Cash Flow Hedging | Other Liabilities | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of liabilities | 166,571 | 112,430 |
Not Designated as Hedging Instrument | Prepaid Expenses and Other Current Assets | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of assets | 318 | 1,742 |
Not Designated as Hedging Instrument | Accrued Expenses and Other Current Liabilities | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Fair value of liabilities | $11,402 | $1,417 |
Cash_Flow_Hedges_Gains_Losses_
Cash Flow Hedges, Gains (Losses) Recorded as Component of Other Comprehensive Income (Loss) or Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' |
Opening balance, before-tax amount | ($207,373) | ($255,562) | ($163,756) | ($203,006) |
Net gains (losses) reclassified into statement of income on completion of hedged transactions, before-tax amount | -23,185 | -15,813 | -44,070 | -22,654 |
Changes in fair value of effective portion of outstanding derivatives, net, before-tax amount | -75,420 | 99,280 | -139,922 | 39,883 |
Gain (loss) on cash flow hedging derivatives, net, before-tax amount | -52,235 | 115,093 | -95,852 | 62,537 |
Closing balance, before-tax amount | -259,608 | -140,469 | -259,608 | -140,469 |
Opening balance, tax (expense) or benefit | 73,239 | 90,440 | 59,070 | 71,125 |
Net gains (losses) reclassified into statement of income on completion of hedged transactions, tax (expense) or benefit | 8,759 | 5,390 | 17,061 | 7,643 |
Changes in fair value of effective portion of outstanding derivatives, net, tax (expense) or benefit | 27,031 | -35,676 | 49,502 | -14,108 |
Gain (loss) on cash flow hedging derivatives, net, tax (expense) or benefit | 18,272 | -41,066 | 32,441 | -21,751 |
Closing balance, tax (expense) or benefit | 91,511 | 49,374 | 91,511 | 49,374 |
Opening balance, net of tax amount | -134,134 | -165,122 | -104,686 | -131,881 |
Net gains (losses) reclassified into statement of income on completion of hedged transactions, net of tax amount | -14,426 | -10,423 | -27,009 | -15,011 |
Changes in fair value of effective portion of outstanding derivatives, net, net of tax amount | -48,389 | 63,604 | -90,420 | 25,775 |
Gain (loss) on cash flow hedging derivatives, net of taxes amount | -33,963 | 74,027 | -63,411 | 40,786 |
Closing balance, net of tax amount | ($168,097) | ($91,095) | ($168,097) | ($91,095) |
Gains_or_Losses_Recorded_as_Co
Gains or Losses Recorded as Component of Other Comprehensive Income (Loss) or Other Comprehensive Income (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||||
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion) | ' | ' | ($139,922) | $39,883 | ||||
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion) | -23,185 | -15,813 | -44,070 | -22,654 | ||||
Amount of Gain (Loss) recognized in income on Derivative (Ineffective Portion and Amount excluded from Effectiveness Testing) | ' | ' | ' | ' | ||||
Non designated Hedges, amount of (Gain) Loss recognized in Statement of Income on Derivative | 11,359 | -10,588 | 20,944 | -9,002 | ||||
Revenue | ' | ' | ' | ' | ||||
Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||||
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion) | 2,590 | -1,144 | 5,957 | -3,587 | ||||
Cost of Revenue | ' | ' | ' | ' | ||||
Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||||
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion) | -20,801 | -11,614 | -40,417 | -15,025 | ||||
Selling, General and Administrative Expenses | ' | ' | ' | ' | ||||
Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||||
Amount of Gain (Loss) reclassified from OCI into Statement of Income (Effective Portion) | -4,974 | -3,055 | -9,610 | -4,042 | ||||
Forward Foreign Exchange Contracts (Note A) | ' | ' | ' | ' | ||||
Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||||
Amount of Gain (Loss) recognized in OCI on Derivatives (Effective Portion) | ' | ' | -139,922 | 39,883 | ||||
Amount of Gain (Loss) recognized in income on Derivative (Ineffective Portion and Amount excluded from Effectiveness Testing) | ' | ' | ' | ' | ||||
Forward Foreign Exchange Contracts (Note A) | Foreign Exchange (Gains) Losses, Net | ' | ' | ' | ' | ||||
Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ||||
Non designated Hedges, amount of (Gain) Loss recognized in Statement of Income on Derivative | $11,359 | [1] | ($10,588) | [1] | $20,944 | [1] | ($9,002) | [1] |
[1] | These forward foreign exchange contracts were entered into to hedge the fluctuations in foreign exchange rates for recognized balance sheet items such as receivables and inter-company borrowings, and were not originally designated as hedges under FASB guidance on derivatives and hedging. Realized (gains) losses and changes in the fair value of these derivatives are recorded in foreign exchange (gains) losses, net in the consolidated statements of income. |
Property_Plant_and_Equipment_N2
Property, Plant and Equipment, Net (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property, plant and equipment, gross | $486,112 | $513,540 |
Less: Accumulated depreciation and amortization | -317,738 | -313,178 |
Property, plant and equipment, net | $168,374 | $200,362 |
Property_Plant_and_Equipment_N3
Property, Plant and Equipment, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | ' | ' | $40,270 | $41,609 |
Depreciation Expense on Property, Plant And Equipment | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | 11,747 | 11,332 | 35,164 | 33,754 |
Computer Software Amortization | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | 2,438 | 2,881 | 7,541 | 8,840 |
Effect of Reclassification of Foreign Exchange (Gains) Losses | ' | ' | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' | ' | ' |
Depreciation and amortization | $1,233 | $750 | $2,435 | $985 |
Changes_in_Goodwill_Detail
Changes in Goodwill (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Goodwill [Line Items] | ' | ' |
Opening balance | $956,064 | $925,339 |
Goodwill relating to acquisitions consummated during the period | 37,918 | 43,265 |
Adjustment to preliminary purchase accounting for acquisitions | -362 | -3,213 |
Effect of exchange rate fluctuations | -43,196 | -9,327 |
Closing balance | $950,424 | $956,064 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Goodwill and Intangible Assets Disclosure [Line Items] | ' | ' | ' | ' | ' |
Goodwill deductible for tax purposes | $39,260 | ' | $39,260 | ' | $6,779 |
Amortization of acquired intangible assets | 5,867 | 6,014 | 17,603 | 17,094 | ' |
Amortization of intangible assets recognized for minimum volume commitment from a client at the time of 2004 Reorganization | $0 | $17 | $0 | $55 | ' |
Intangible_Assets_Acquired_Eit
Intangible Assets Acquired Either Individually or with Group of Other Assets or in Business Combination (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | $337,473 | $340,372 |
Accumulated amortization | 230,541 | 227,985 |
Net | 106,932 | 112,387 |
Customer-Related Intangible Assets | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 286,716 | 291,735 |
Accumulated amortization | 207,466 | 206,987 |
Net | 79,250 | 84,748 |
Marketing-Related Intangible Assets | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 40,654 | 40,386 |
Accumulated amortization | 20,026 | 18,801 |
Net | 20,628 | 21,585 |
Contract-Related Intangible Assets | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 1,028 | 1,182 |
Accumulated amortization | 1,028 | 1,182 |
Other Intangible Assets | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 9,075 | 7,069 |
Accumulated amortization | 2,021 | 1,015 |
Net | $7,054 | $6,054 |
Net_Defined_Benefit_Plan_Costs
Net Defined Benefit Plan Costs (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan Disclosure [Line Items] | ' | ' | ' | ' |
Service costs | $1,528 | $693 | $3,274 | $2,667 |
Interest costs | 869 | 331 | 1,756 | 1,246 |
Amortization of actuarial loss | 200 | 193 | 650 | 532 |
Expected return on plan assets | -298 | -187 | -727 | -599 |
Net Gratuity Plan costs | $2,299 | $1,030 | $4,953 | $3,846 |
Amounts_Contributed_to_Defined
Amounts Contributed to Defined Contribution Plans in Various Jurisdictions (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | $9,410 | $8,241 | $28,951 | $24,238 |
India | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 3,446 | 3,450 | 10,935 | 10,367 |
U.S. | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 620 | 696 | 2,561 | 2,462 |
U.K. | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 405 | 345 | 1,352 | 1,096 |
Hungary | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 6 | 6 | 18 | 52 |
China | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 3,899 | 3,092 | 10,781 | 8,670 |
Mexico | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 3 | 4 | 23 | 25 |
Morocco | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 20 | 33 | 71 | 122 |
South Africa | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 46 | 82 | 172 | 246 |
Hong Kong | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 4 | 10 | 15 | 27 |
Philippines | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 3 | 5 | 11 | 11 |
Japan | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 611 | 107 | 1,577 | 320 |
Singapore | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | 2 | ' | 8 | ' |
Netherlands | ' | ' | ' | ' |
Defined Contribution Plans In Various Jurisdictions [Line Items] | ' | ' | ' | ' |
Defined contribution plans, contributed amount | $345 | $411 | $1,427 | $840 |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 22 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | ||||||||||||||||
In Thousands, except Share data, unless otherwise specified | Aug. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Apr. 11, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Mar. 31, 2010 | Mar. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 01, 2009 | Sep. 30, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2012 | Apr. 30, 2013 | Jan. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 |
Person | 2007 Omnibus Plan | 2007 Omnibus Plan | 2007 Omnibus Plan | 2005 Omnibus Plan | Stock Option | Performance Units | Performance Units | Performance Units | Performance Units | Performance Units | Performance Units | Performance Units | Employee Stock Purchase Plan | Employee Stock Purchase Plan | Employee Stock Purchase Plan | Employee Stock Purchase Plan | Employee Stock Purchase Plan | Restricted Share Units | Restricted Share Units | Restricted Share Units | Restricted Share Units | Restricted Share Units | Restricted Share Units | Restricted Share Units | Restricted Share Units | ||||||
31-Dec-13 | 31-Dec-13 | Adjustment Special Cash Dividend | Adjustment Special Cash Dividend | Group One | Group One | ||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amended Omnibus Plan, increase in number of common shares authorized for issuance | ' | ' | ' | ' | ' | ' | 6,314,496 | 2,544,327 | 5,593,200 | 495,915 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common shares authorized for issuance | ' | ' | ' | ' | ' | ' | ' | ' | 15,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Dividend per share | $2.24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation cost | ' | $5,258 | $5,579 | $21,761 | $22,745 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Reduction in stock-based compensation costs | ' | 1,670 | ' | 1,670 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized stock-based compensation cost for options | ' | 25,728 | ' | 25,728 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average remaining requisite vesting period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | '1 year 1 month 6 days | ' | ' | ' | ' | ' | ' | ' | '1 year 10 months 24 days | ' | ' | ' | ' | ' | ' | ' |
Minimum vesting schedules, months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' | ' | ' | ' |
Maximum vesting schedules, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' |
Shares issued on vested awards other than options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 503,969 | ' | ' | 243,781 | ' | ' | ' | ' | ' | ' | ' | 4,000 | 102,000 | ' | 1,819 | 100,800 | ' | ' |
RSUs settled on vesting by issuing shares (net of minimum tax withholding) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 188,966 | ' | ' | ' | 240 | 13,557 | 533 | 13,719 |
Vested RSU against which shares to be issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,286 | ' | ' | ' | ' |
Unrecognized share-based compensation costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9,429 | ' | ' | ' | ' | ' | ' | ' | 12,427 | ' | ' | ' | ' | ' | ' | ' |
Percentage of actual vesting | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.90% | ' | ' | 128.90% | 122.20% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares issued net of tax withholdings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,679 | 156,511 | ' | 334,922 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares to be issued on vested awards other than options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 231,029 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock options vesting period, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental compensation cost | ' | ' | ' | 5,500 | ' | 4,109 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Incremental compensation cost recognition period | ' | ' | ' | ' | ' | '21 months 15 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Transfer of minimum percentage of voting power of company for change of control | ' | ' | ' | 25.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of employee affected | ' | ' | ' | 123 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average period not yet recognized | ' | ' | ' | '1 year 10 months 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of fair value per share allowed to eligible employees to purchase through payroll deductions | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 90.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum percentage of employee's base salary allowed to be purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15.00% | ' | 15.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum dollar amount of common shares allowed to be purchased | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares reserved for issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,200,000 | ' | 4,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of common shares issued under ESPP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 81,040 | 63,106 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation expense for ESPP | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $54 | $34 | $170 | $111 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Significant_Assumptions_used_i
Significant Assumptions used in Determination of Fair Value of Options (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Assumptions used to Determine Fair Value Options [Line Items] | ' |
Dividend Yield | 0.00% |
Expected life (in months) | '84 months |
Risk free rate of interest | 1.55% |
Volatility | 39.39% |
Summary_of_Options_Activity_De
Summary of Options Activity (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | |
Shares arising out of options | ' | ' | |
Outstanding, shares arising out of options, beginning balance | 12,413,298 | ' | |
Granted, shares arising out of options | 3,483,000 | ' | |
Forfeited, shares arising out of options | -63,056 | ' | |
Expired, shares arising out of options | -67,978 | ' | |
Exercised, shares arising out of options | -3,784,851 | ' | |
Outstanding, shares arising out of options, ending balance | 11,980,413 | 12,413,298 | |
Vested and expected to vest thereafter, shares arising out of options | 11,596,240 | [1] | ' |
Vested and exercisable, shares arising out of options | 7,547,192 | ' | |
Weighted average grant date fair value of grants during the year | $19.35 | ' | |
Weighted average exercise price | ' | ' | |
Outstanding weighted average exercise price, beginning balance | $9.29 | ' | |
Granted, weighted average exercise price | $19.35 | ' | |
Forfeited, weighted average exercise price | $10.47 | ' | |
Expired, weighted average exercise price | $13.79 | ' | |
Exercised, weighted average exercise price | $8.76 | ' | |
Outstanding weighted average exercise price, ending balance | $12.35 | $9.29 | |
Vested and expected to vest thereafter, weighted average exercise price | $12.07 | [1] | ' |
Vested and exercisable, weighted average exercise price | $9.27 | ' | |
Weighted average remaining contractual life (years) | ' | ' | |
Outstanding weighted average remaining contractual life (years) | '5 years 3 months 26 days | '4 years 2 months 12 days | |
Vested and expected to vest thereafter, weighted average remaining contractual life (years) | '5 years 3 months 26 days | [1] | ' |
Vested and Exercisable, weighted average remaining contractual life (years) | '3 years 2 months 27 days | ' | |
Aggregate intrinsic value | ' | ' | |
Exercised, aggregate intrinsic value | $38,149 | ' | |
Outstanding aggregate intrinsic value, ending balance | 80,652 | ' | |
Vested and expected to vest thereafter, aggregate intrinsic value | 80,471 | [1] | ' |
Vested and Exercisable, aggregate intrinsic value | $72,524 | ' | |
[1] | Options expected to vest reflect an estimated forfeiture rate. |
Summary_of_Restricted_Share_Un
Summary of Restricted Share Units Granted (Detail) (Restricted Share Units, USD $) | 9 Months Ended | |
Sep. 30, 2013 | ||
Restricted Share Units | ' | |
Number of Restricted Share units | ' | |
Outstanding number of Shares (Units), beginning balance | 1,688,402 | |
Granted, number of Shares (Units) | 91,623 | |
Vested, number of shares (Units) | -294,451 | [1] |
Forfeited, number of shares (Units) | -190,665 | |
Outstanding number of shares (Units), ending balance | 1,294,909 | |
Expected to vest, number of shares (Units) | 1,165,351 | [2] |
Weighted Average Grant Date Fair Value | ' | |
Outstanding weighted average grant date fair value, beginning balance | $13.74 | |
Granted, weighted average grant date fair value | $19.52 | |
Vested, weighted average grant date fair value | $14.49 | [1] |
Forfeited, weighted average grant date fair value | $13.62 | |
Outstanding weighted Average Grant Date Fair Value, ending balance | $14 | |
[1] | Vested RSUs have been net settled upon vesting by issuing 188,966 shares (net of minimum statutory withholding taxes). | |
[2] | RSUs expected to vest reflect an estimated forfeiture rate. |
Summary_of_Restricted_Share_Un1
Summary of Restricted Share Units Granted (Parenthetical) (Detail) (Restricted Share Units) | 9 Months Ended |
Sep. 30, 2013 | |
Restricted Share Units | ' |
Schedule Of Activity Related To Restricted Shares And Restricted Share [Line Items] | ' |
RSUs settled on vesting by issuing shares (net of minimum tax withholding) | 188,966 |
Summary_of_Performance_Units_A
Summary of Performance Units Activity (Detail) (Performance Units, USD $) | 9 Months Ended | |
Sep. 30, 2013 | ||
Performance Units | ' | |
Number of Share Units | ' | |
Outstanding number of Shares (Units), beginning balance | 3,041,511 | |
Granted, number of Shares (Units) | 2,025,090 | |
Vested, number of shares (Units) | ' | |
Forfeited, number of shares (Units) | -200,654 | |
Addition due to achievement of higher than target performance goals, number of shares (Units) | 297,911 | [1] |
Outstanding number of shares (Units), ending balance | 5,163,858 | |
Expected to vest | 2,542,867 | [2] |
Weighted Average Grant Date Fair Value | ' | |
Outstanding weighted average grant date fair value, beginning balance | $13.26 | |
Granted, weighted average grant date fair value | $18.57 | |
Vested, weighted average grant date fair value | ' | |
Forfeited, weighted average grant date fair value | $15.13 | |
Addition due to achievement of higher than target performance goals | $17.50 | [1] |
Outstanding weighted Average Grant Date Fair Value, ending balance | $15.51 | |
Maximum shares eligible to receive | ' | |
Outstanding maximum shares eligible to receive, beginning balance | 4,402,597 | |
Granted, maximum shares eligible to receive | 3,694,635 | |
Vested, maximum shares eligible to receive | ' | |
Forfeited, maximum shares eligible to receive | -256,064 | |
Reduction due to achievement of lower than maximum performance goals, maximum shares eligible to receive | -373,702 | [3] |
Outstanding maximum shares eligible to receive, ending balance | 7,467,466 | |
[1] | Represents the additional award of 22.2% of the target shares on account of the achievement of higher than target performance for the PUs granted in March 2012. | |
[2] | PUs expected to vest are based on the probable achievement of the performance targets after considering an estimated forfeiture rate | |
[3] | Represents a 27.8% reduction in the maximum shares eligible to vest on account of the certification of the performance goals for the PUs granted in 2012. |
Summary_of_Performance_Units_A1
Summary of Performance Units Activity (Parenthetical) (Detail) (Performance Units) | Sep. 30, 2013 |
Performance Units | ' |
Schedule of Share based Compensation Arrangements by Share based Payment Award, Equity Instruments, Other Than Options, Performance Share Units [Line Items] | ' |
Percentage change on achievement of performance goals | 22.20% |
Percentage Change on achievement of performance goals | 27.80% |
Modification_of_Performance_Me
Modification of Performance Metrics for Performance Grants Made to Employees (Detail) (Performance Grants Made to Employees) | 3 Months Ended |
Mar. 31, 2011 | |
Performance Grants Made to Employees | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Original Performance Target, Revenue Growth, Outstanding | 20.00% |
Original Performance Target, Revenue Growth, Target | 15.00% |
Original Performance Target, Revenue Growth, Threshold | 10.00% |
Original Performance Target, EBITDA Growth, Outstanding | 20.00% |
Original Performance Target, EBITDA Growth, Target | 15.00% |
Original Performance Target, EBITDA Growth, Threshold | 10.00% |
Modified Performance Target, Revenue Growth, Outstanding | 20.00% |
Modified Performance Target, Revenue Growth, Target | 15.00% |
Modified Performance Target, Revenue Growth, Threshold | 10.00% |
Modified Performance Target, Adjusted Income from Operation growth, Outstanding | 20.00% |
Modified Performance Target, Adjusted Income from Operation growth, Target | 15.00% |
Modified Performance Target, Adjusted Income from Operation growth, Threshold | 10.00% |
Modification_of_Performance_Me1
Modification of Performance Metrics for Performance Grants Made to Former Chief Executive Officer (Detail) (Performance Grant Made to Former CEO) | 3 Months Ended |
Mar. 31, 2011 | |
Performance Grant Made to Former CEO | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Original Performance Target, Revenue Growth, Outstanding | 20.00% |
Original Performance Target, Revenue Growth, Target | 15.00% |
Original Performance Target, Revenue Growth, Threshold | 10.00% |
Original Performance Target, EBITDA Growth, Outstanding | 20.00% |
Original Performance Target, EBITDA Growth, Target | 15.00% |
Original Performance Target, EBITDA Growth, Threshold | 10.00% |
Modified Performance Target, Revenue Growth, Outstanding | 17.00% |
Modified Performance Target, Revenue Growth, Target | 12.50% |
Modified Performance Target, Revenue Growth, Threshold | 8.00% |
Modified Performance Target, Adjusted Income from Operation growth, Outstanding | 16.00% |
Modified Performance Target, Adjusted Income from Operation growth, Target | 12.50% |
Modified Performance Target, Adjusted Income from Operation growth, Threshold | 7.00% |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' | ' | ' |
Number of stock options outstanding but not included in the computation of diluted earnings per common share | 3,483,000 | 285,000 | 2,327,000 | 4,366,422 |
Earnings_Per_Share_Detail
Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share (Abstract) | ' | ' | ' | ' |
Net income available to Genpact Limited common shareholders | $70,262 | $25,175 | $180,875 | $124,815 |
Weighted average number of common shares used in computing basic earnings per common share | 230,057,508 | 223,876,035 | 228,840,746 | 223,289,507 |
Dilutive effect of stock-based awards | 6,279,416 | 6,319,799 | 6,254,914 | 5,226,884 |
Weighted average number of common shares used in computing dilutive earnings per common share | 236,336,924 | 230,195,834 | 235,095,660 | 228,516,391 |
Earnings per common share attributable to Genpact Limited common shareholders, Basic | $0.31 | $0.11 | $0.79 | $0.56 |
Earnings per common share attributable to Genpact Limited common shareholders, Diluted | $0.30 | $0.11 | $0.77 | $0.55 |
ShortTerm_Borrowing_Additional
Short-Term Borrowing - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 6 Months Ended | 9 Months Ended | 6 Months Ended | 9 Months Ended | |||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 30, 2012 | 31-May-11 | Jun. 30, 2013 | Aug. 30, 2012 | 31-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Jun. 30, 2013 | Sep. 30, 2013 |
Revolving Credit Facility | Revolving Credit Facility | Revolving Credit Facility | Fund-Based Credit Facility | Fund-Based Credit Facility | Non-Fund-Based Credit Facility | Non-Fund-Based Credit Facility | Original Margin | Original Margin | |||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fund-based and non-fund-based credit facilities limits available | $16,393 | $18,489 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Utilization of credit facility for non fund-based usage | 6,686 | 5,942 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | ' | ' | 925,000 | 380,000 | ' | 250,000 | 260,000 | ' | ' | ' | ' | ' | ' |
Credit facility, amount utilized | $87,439 | $4,397 | ' | ' | ' | ' | ' | $80,000 | $0 | $7,439 | $4,397 | ' | ' |
Margin over LIBOR | 2.75% | 3.25% | ' | ' | 2.50% | ' | ' | 2.50% | ' | ' | ' | 3.25% | 3.25% |
Percentage of commitment fee | 0.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility, expiration month and year | '2017-08 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit covenant condition | 'Indebtedness under these facilities is secured by certain assets and the credit agreement contains certain covenants, including a maximum leverage covenant that becomes effective only if the revolving facility is drawn for $50,000 or more. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
LongTerm_Debt_Additional_Infor
Long-Term Debt - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | 12 Months Ended | |||
In Thousands, unless otherwise specified | Aug. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | 31-May-11 |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | $925,000 | ' | ' | ' | ' | ' | ' | $380,000 |
Termination of credit facility | 380,000 | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity, outstanding | 380,000 | ' | ' | ' | ' | ' | ' | ' |
Margin over LIBOR | ' | ' | ' | ' | 2.75% | ' | 3.25% | ' |
LIBOR floor rate | ' | ' | ' | 0.75% | 0.75% | ' | 1.00% | ' |
Term loan amounts outstanding, gross | ' | ' | ' | 671,625 | ' | ' | ' | ' |
Unmodified portion of Term Loan | ' | ' | ' | 553,589 | ' | ' | ' | ' |
Extinguishment of outstanding term loan | ' | ' | ' | 118,036 | ' | ' | ' | ' |
Increase in outstanding term loan | ' | ' | ' | 121,410 | ' | ' | ' | ' |
Acceleration amortization of debt issuance cost | ' | 0 | 5,534 | ' | 3,157 | 5,534 | ' | ' |
Term loan amounts outstanding | ' | 658,920 | ' | ' | 658,920 | ' | 661,861 | ' |
Debt amortization expense | ' | ' | ' | ' | 14,392 | ' | 11,452 | ' |
Principal amount of term loan | ' | ' | ' | ' | 675,000 | ' | ' | ' |
Credit facility, frequency of payments | ' | ' | ' | ' | 'Quarterly | ' | ' | ' |
Percentage of Principal amount of existing credit facility to be paid periodically | ' | ' | ' | ' | 0.25% | ' | ' | ' |
Maturity date of term loan agreement | ' | ' | ' | ' | 30-Aug-19 | ' | ' | ' |
Term-Loan Credit Facility | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | 675,000 | ' | ' | 675,000 | ' | ' | ' | 120,000 |
Margin over LIBOR | ' | ' | ' | 2.75% | ' | ' | ' | ' |
Revolving Credit Facility | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Credit facility, maximum borrowing capacity | 250,000 | ' | ' | ' | ' | ' | ' | 260,000 |
Margin over LIBOR | ' | ' | ' | 2.50% | ' | ' | ' | ' |
Original Margin | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Margin over LIBOR | ' | ' | ' | 3.25% | 3.25% | ' | ' | ' |
LIBOR floor rate | ' | ' | ' | 1.00% | ' | ' | ' | ' |
Term Loans | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Acceleration amortization of debt issuance cost | ' | ' | ' | 3,103 | ' | ' | ' | ' |
Revolving Credit Facilities | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Acceleration amortization of debt issuance cost | ' | ' | ' | $54 | ' | ' | ' | ' |
Maturity_Profile_of_Term_Loan_
Maturity Profile of Term Loan Net of Debt Amortization Expense (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Long-Term Debt | ' | ' |
2013 | $1,056 | ' |
2014 | 4,263 | ' |
2015 | 4,288 | ' |
2016 | 4,306 | ' |
2017 | 4,338 | ' |
2018 | 4,363 | ' |
2019 | 636,306 | ' |
Term loan amounts outstanding | $658,920 | $661,861 |
Cost_of_Revenue_Detail
Cost of Revenue (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Cost of revenue | $329,289 | $297,253 | $973,729 | $847,940 |
Personnel expenses | ' | ' | ' | ' |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Cost of revenue | 223,976 | 203,011 | 671,518 | 583,649 |
Operational expenses | ' | ' | ' | ' |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Cost of revenue | 93,235 | 82,227 | 265,894 | 228,256 |
Depreciation and amortization | ' | ' | ' | ' |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Cost of revenue | $12,078 | $12,015 | $36,317 | $36,035 |
Selling_General_and_Administra2
Selling, General and Administrative Expenses (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Selling, general and administrative expenses | $117,005 | $118,536 | $348,632 | $337,794 |
Personnel expenses | ' | ' | ' | ' |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Selling, general and administrative expenses | 83,580 | 80,421 | 251,379 | 230,917 |
Operational expenses | ' | ' | ' | ' |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Selling, general and administrative expenses | 31,318 | 35,916 | 90,865 | 100,318 |
Depreciation and amortization | ' | ' | ' | ' |
Component of Operating Other Cost and Expense [Abstract] | ' | ' | ' | ' |
Selling, general and administrative expenses | $2,107 | $2,199 | $6,388 | $6,559 |
Other_Operating_Income_Expense2
Other Operating Income (Expense), Net (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Components of Other Operating Income [Line Items] | ' | ' | ' | ' |
Other operating (income) expense | ($1,051) | ($789) | ($2,260) | ($2,302) |
Provision for impairment of capital work in progress / property, plant and equipment | ' | 2,121 | 2,392 | 2,121 |
Change in fair value of earn out consideration and deferred consideration (relating to business acquisitions) | -2,181 | -1,930 | -4,452 | -1,930 |
Other operating (income) expense, net | ($3,232) | ($598) | ($4,320) | ($2,111) |
Other_Income_Expense_Net_Detai
Other Income (Expense), Net (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | ||||
Other Income (Expense), Net | ' | ' | ' | ' | ||||
Interest income | $4,355 | $2,455 | $14,114 | $7,965 | ||||
Interest expense | -8,134 | [1] | -11,022 | [1] | -30,861 | [1] | -17,987 | [1] |
Provision (created) reversed for loss on divestitures | 141 | ' | -3,520 | ' | ||||
Other income (expense) | 184 | [2] | -6,365 | [2] | 1,163 | [2] | -5,733 | [2] |
Other income (expense), net | ($3,454) | ($14,932) | ($19,104) | ($15,755) | ||||
[1] | Three months ended September 30, 2012 and 2013 include $5,534 and $0, respectively, and nine months ended September 30, 2012 and 2013 include $5,534 and $3,157, respectively, representing acceleration of the amortization of debt issuance costs relating to the prepayment and termination of the previous credit facility in August 2012 and amendment of the new credit facility in June 2013, respectively, as described in Note 14. | |||||||
[2] | Three months and nine months ended September 30, 2012 include $6,607, representing 2012 recapitalization expenses, as described in Note 1. |
Other_Income_Expense_Net_Paren
Other Income (Expense), Net (Parenthetical) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Components of Other Income (Expense) [Line Items] | ' | ' | ' | ' |
Acceleration amortization of debt issuance cost | $0 | $5,534 | $3,157 | $5,534 |
Total expenses incurred for 2012 recapitalization | ' | $6,607 | ' | $6,607 |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Income Tax Disclosure [Line Items] | ' | ' | ' | ' | ' |
Effective tax rate | 23.80% | 37.70% | 24.40% | 29.90% | ' |
Recapitalization expenses | ' | $2,300 | ' | ' | ' |
Unrecognized tax benefits | 20,989 | ' | 20,989 | ' | 21,024 |
Unrecognized tax benefits that would impact effective tax rate | 20,831 | ' | 20,831 | ' | 20,871 |
Unrecognized tax benefits, interest on income taxes accrued | $3,841 | ' | $3,841 | ' | $3,423 |
Activities_Related_to_Unrecogn
Activities Related to Unrecognized Tax Benefits for Uncertain Tax Positions (Detail) (USD $) | 9 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 |
Schedule of Unrecognized Tax Benefits [Line Items] | ' |
Beginning Balance | $21,024 |
Increase related to prior year tax positions, including recorded against goodwill | 1,503 |
Decrease related to prior year tax positions | -719 |
Increase related to current year tax positions | 1,217 |
Effect of exchange rate changes | -2,036 |
Ending Balance | $20,989 |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 |
Non-Consolidating Affiliates | Non-Consolidating Affiliates | Non-Consolidating Affiliates | Non-Consolidating Affiliates | Customer Which Has Significant Interest In The Company | Customer Which Has Significant Interest In The Company | Customer Which Has Significant Interest In The Company | Customer In Which Company's Directors Have Controlling Interest | Customer In Which Company's Directors Have Controlling Interest | Affiliate of Significant Shareholder | Affiliate of Significant Shareholder | |||||
Maximum | |||||||||||||||
Related Party Transaction [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percent of ownership held | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | ' |
Recognized net revenues | $190 | $170 | $571 | $487 | ' | ' | ' | ' | $117 | $344 | ' | $53 | $143 | $190 | $571 |
Cost of revenue | ' | ' | ' | ' | 563 | 670 | 1,527 | 1,754 | ' | ' | ' | ' | ' | ' | ' |
Selling, general and administrative expenses | ' | ' | ' | ' | 135 | 198 | 356 | 408 | ' | ' | ' | ' | ' | ' | ' |
Investment in equity affiliates | ' | ' | ' | ' | ' | $0 | ' | $205 | ' | ' | ' | ' | ' | ' | ' |
Dividend_Additional_Informatio
Dividend - Additional Information (Detail) (USD $) | 1 Months Ended | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Aug. 30, 2012 | Aug. 01, 2012 | Sep. 30, 2012 |
Dividends [Line Items] | ' | ' | ' |
Dividend per share | $2.24 | ' | ' |
Special cash dividend declared | $501,620 | ' | $501,620 |
Declaration of special cash dividend, payment date | ' | 24-Sep-12 | ' |
Declaration of special cash dividend, record date | ' | 10-Sep-12 | ' |
Commitments_and_Contingencies_
Commitments and Contingencies - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Commitments and Contingencies [Line Items] | ' | ' |
Commitments and contingencies | ' | ' |
Commitment To Purchase Property, Plant and Equipment | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' |
Commitments and contingencies | 4,772 | 3,965 |
Outstanding Bank Guarantees | ' | ' |
Commitments and Contingencies [Line Items] | ' | ' |
Commitments and contingencies | $11,083 | $13,381 |