XML 48 R34.htm IDEA: XBRL DOCUMENT v3.22.4
Net revenues
 12 Months Ended
Dec. 31, 2022
Revenues [Abstract]  
Net revenues Net revenues 
Disaggregation of revenue
In the following table, the Company’s revenue is disaggregated by nature of services provided:
Year ended December 31,
202020212022
Data-Tech-AI$1,383,971 $1,692,281 $1,959,889 
Digital Operations2,325,406 2,329,930 2,411,283 
Total net revenues$3,709,377 $4,022,211 $4,371,172 
All three of the Company's segments include revenue from both Data-Tech-AI and Digital Operations services. See Note 24 for additional information.
During the second quarter of 2022, the Company's management modified the manner in which it disaggregates revenue for reporting and internal tracking purposes, and the Company now reports revenue disaggregated by the nature of services provided to the client, namely either Data-Tech-AI or Digital Operations services. Prior to the second quarter of 2022, the Company disaggregated its revenue as either revenue from the General Electric Company (GE) or revenue from Global Clients (other than GE).
Contract balances 
Accounts receivable include amounts for services that the Company has performed but for which payment has not been received. The Company typically follows a 30-day billing cycle and, as such, at any point in time may have accrued up to 30 days of revenues that have not been billed. The Company has determined that in instances where the timing of revenue recognition differs from the timing of invoicing, the related contracts generally do not include a significant financing component. See Note 4 for details on the Company’s accounts receivable and allowance for credit losses and Note 11 for deferred billings.
25. Net revenues (Continued)
The following table provides details of the Company’s contract balances: 
As of December 31,
20212022
Contract assets (Note a)$13,741 $18,347 
Contract liabilities (Note b)
Deferred transition revenue$155,077 $128,726 
Advance from customers$85,747 $88,056 
 
(a) Included in "prepaid expenses and other current assets" and "other assets" in the consolidated balance sheet.
(b) Included in "accrued expenses and other current liabilities" and "other liabilities" in the consolidated balance sheet.
During the year ended December 31, 2022, the Company sold certain contract assets and contract liabilities amounting to $0 and $2,451, respectively, and classified certain contract assets and contract liabilities amounting to $2,168 and $649, respectively, as assets/liabilities held for sale relating to the Business, the sale of which was completed after December 31, 2022. See Note 8 for additional information.
Contract assets represent the contract acquisition fees or other upfront fees paid to a customer. Such costs are amortized over the expected period of benefit and recorded as an adjustment to the transaction price and deducted from revenue. The Company’s assessment did not indicate any significant impairment losses on its contract assets for the periods presented.
Contract liabilities include that portion of revenue for which payments have been received in advance from customers. The Company also defers revenues attributable to certain process transition activities for which costs have been capitalized by the Company as contract fulfillment costs. Consideration received from customers, if any, relating to such transition activities is also included as part of contract liabilities. The contract liabilities are included within “Accrued expenses and other current liabilities” and “Other liabilities” in the consolidated balance sheets. The revenues are recognized as (or when) the performance obligation is fulfilled pursuant to the contract with the customer.
Changes in the Company’s contract asset and liability balances during the years ended December 31, 2021 and 2022 were a result of normal business activity and not materially impacted by any other factors.
Revenue recognized during the year ended December 31, 2021 and 2022 that was included in the contract liabilities balance at the beginning of the period was $141,774 and $152,570, respectively.
The following table includes estimated revenue expected to be recognized in the future related to remaining performance obligations as of December 31, 2022: 
ParticularsTotalLess than 1 year1-3 years3-5 yearsAfter 5 years
Transaction price allocated to remaining performance obligations$216,782 $160,844 $44,920 $10,251 $767 
25. Net revenues (Continued)
The following table provides details of the Company’s contract cost assets: 
As of December 31, 2021As of December 31, 2022
ParticularsSales incentive programsTransition activitiesSales incentive programsTransition activities
Opening balance$33,390 $192,507 $32,296 $206,498 
Closing balance32,296 206,498 34,805 181,865 
Amortization22,227 79,779 26,769 89,398 
During the year ended December 31, 2022, the Company sold certain contract assets amounting to $304 and classified $1,247 as assets held for sale relating to the Business, the sale of which was completed after December 31, 2022. See Note 8 for additional information.