XML 23 R12.htm IDEA: XBRL DOCUMENT
v3.25.2

Accounts receivable, net of allowance for credit losses | 6 Months Ended
--- | ---
Jun. 30, 2025
Receivables [Abstract] |
Accounts receivable, net of allowance for credit losses | Accounts receivable, net of allowance for credit losses The following table provides details of the Company’s allowance for credit losses on accounts receivable:
| Year ended December 31, 2024 |  | Six months ended June 30, 2025
Opening balance as of January 1 | $ | 18,278 |  |  | $ | 12,094 |
Additions (net), charged to income statement | 7,582 |  |  | 17,822 |
Deductions/effect of exchange rate fluctuations | (13,766) |  |  | (3,086) |
Closing balance | $ | 12,094 |  |  | $ | 26,830 |
Accounts receivable were $1,210,700 and $1,293,483, and allowances for credit losses were $12,094 and $26,830, resulting in net accounts receivable balances of $1,198,606 and $1,266,653 as of December 31, 2024 and June 30, 2025, respectively. In addition, deferred billings were $130,253 and $187,392 and allowances for credit losses on deferred billings were $7,320 and $7,861, resulting in net deferred billings balances of $122,933 and $179,531 as of December 31, 2024 and June 30, 2025, respectively. During the three months ended June 30, 2024 and 2025, the Company recorded a charge of $1,338 and $1,989, respectively, and for the six months ended June 30, 2024 and 2025, a charge of $4,416 and $541, respectively, to the income statement on account of credit losses on deferred billings. Deferred billings, net of related allowances for credit losses, are included under “Other assets” in the Company’s consolidated balance sheets as of December 31, 2024 and June 30, 2025. The Company has a revolving accounts receivable-based facility of $60,000 as of December 31, 2024 and June 30, 2025 permitting it to sell accounts receivable to banks on a non-recourse basis in the ordinary course of business. The aggregate maximum capacity utilized by the Company at any time during the year ended December 31, 2024 and the six months ended June 30, 2025 was $55,870 and $59,952, respectively. The principal amount outstanding against this facility as of December 31, 2024 and June 30, 2025 was $26,583 and $59,927, respectively. The cost of factoring such accounts receivable during the three and six months ended June 30, 2024 and 2025 was $720 and $403, respectively, and $1,426 and $1,081, respectively. Gains or losses on the sales are recorded at the time of transfer of the accounts receivable and are included under "interest income (expense), net" in the Company’s consolidated statements of income. The Company also has arrangements with financial institutions that manage the accounts payable program for certain of the Company's large clients. The Company sells certain accounts receivable pertaining to such clients to these financial institutions on a non-recourse basis. There is no cap on the value of accounts receivable that can be sold under these arrangements. The Company used these arrangements to sell accounts receivable amounting to $270,211 during the year ended December 31, 2024 and $144,267 during the six months ended June 30, 2025, which also represents the maximum capacity utilized under these arrangements in each such period. The cost of factoring such accounts receivable during the three and six months ended June 30, 2024 and 2025 was $1,866 and $1,403, respectively, and $3,041 and $2,579, respectively.

X
- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
Name: | us-gaap_LoansNotesTradeAndOtherReceivablesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration