v3.24.2.u1
Segment reporting
 6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
Segment reporting Segment reporting
The Company manages various types of business process and information technology services in an integrated manner for clients in various industries and geographic locations. The Company's operating segments are significant strategic business units that align its products and services with how it manages its business, approaches key markets and interacts with its clients.
The Company’s reportable segments are as follows: (1) Financial Services, (2) Consumer and Healthcare, and (3) High Tech and Manufacturing.
The Company’s Chief Executive Officer, who has been identified as the Chief Operating Decision Maker ("CODM"), reviews operating segment revenue, which is a GAAP measure, and adjusted income from operations ("AOI"), which is a non-GAAP measure. The Company does not allocate, and therefore the CODM does not evaluate, stock-based compensation expenses, amortization and impairment of acquired intangible assets, foreign exchange gain/(losses) (other than those included in income from operations), interest income/(expense), restructuring (expense)/income, acquisition related expenses, any losses or gains from businesses held for sale, including impairment charges, other income/(expense), or income taxes by segment. The Company’s operating assets and liabilities pertain to multiple segments. The Company manages assets and liabilities on a total company basis, not by operating segment, and therefore asset and liabilities information and capital expenditures by operating segment are not presented to the CODM and are not reviewed by the CODM. Adjusted income from operations for “Others” primarily represents the impact of certain under or over-absorption of corporate overheads, and allowance for credit losses, which are not allocated to the Company’s segments for management’s internal reporting purposes.
The Company disaggregates its revenue as revenue from either Digital Operations services or Data-Tech-AI services based on the nature of the services provided. During the first quarter of 2024, the Company realigned as Data-Tech-AI services certain services that had previously been designated as Digital Operations services based on the nature of work performed and the mode of delivery for these particular services, which have evolved over time. Accordingly, the Company has updated the classification of revenue derived from Digital Operations services and Data-Tech-AI services for the three and six months ended June 30, 2023 to present comparable information. See Note 19 for additional information.
The CODM continues to review operating segment revenue, which is a GAAP measure, and adjusted income from operations, which is a non-GAAP measure.
18. Segment reporting (Continued)
Revenues and adjusted income from operations for each of the Company’s segments for the three months ended June 30, 2023 were as follows:
Net revenues
Data-Tech-AIDigital operationsTotalAOI
Financial Services139,999 161,437 301,436 46,723 
Consumer and Healthcare187,648 207,249 394,897 58,951 
High Tech and Manufacturing197,309 211,882 409,191 69,621 
Net revenues524,956 580,568 1,105,524 
Others10,665 
Total AOI185,960 
Stock-based compensation(21,832)
Amortization and impairment of acquired intangible assets (other than included above)(8,257)
Foreign exchange gains (losses), net1,763 
Interest income (expense), net(12,138)
Restructuring (expense)/income (refer to Note 24)
4,874 
Income tax expense(34,118)
Net income116,252 
18. Segment reporting (Continued)

Revenues and adjusted income from operations for each of the Company’s segments for the three months ended June 30, 2024 were as follows:
Net revenues
Data-Tech-AIDigital operationsTotalAOI
Financial Services150,448 168,696 319,144 53,095 
Consumer and Healthcare192,814 231,189 424,003 70,726 
High Tech and Manufacturing202,781 230,284 433,065 74,593 
Net revenues546,043 630,169 1,176,212 
Others— 
Total AOI198,414 
Stock-based compensation(18,369)
Amortization and impairment of acquired intangible assets (other than included above)(6,544)
Foreign exchange gains (losses), net2,454 
Interest income (expense), net(13,538)
Income tax expense(40,427)
Net income121,990 
    
18. Segment reporting (Continued)

Revenues and adjusted income from operations for each of the Company’s segments for the six months ended June 30, 2023 were as follows:
Net revenues
Data-Tech-AIDigital operationsTotalAOI
Financial Services280,025 319,898 599,923 92,300 
Consumer and Healthcare369,570 410,944 780,514 115,282 
High Tech and Manufacturing385,314 429,092 814,406 133,912 
Net revenues1,034,909 1,159,934 2,194,843 
Business held for sale (refer to Note (a) below and Note 7)
(490)1,201 
Net revenues (excluding business held for sale - refer to Note (a) below and Note 7)
2,194,353 
Others22,257 
Total AOI364,952 
Stock-based compensation(41,536)
Amortization and impairment of acquired intangible assets (other than included above)(16,400)
Foreign exchange gains (losses), net723 
Interest income (expense), net(21,765)
Restructuring (expense)/income (refer to Note 24)
4,874 
Operating loss from the business classified as held for sale (refer to Note (a) below and Note 7)
(1,201)
Loss on the sale of business classified as held for sale (refer to Note (a) below and Note 7)
(802)
Income tax expense(66,492)
Net income222,353 
(a) During the second quarter of 2022, the Company's management approved a plan to divest a business that was part of the Company's Consumer and Healthcare segment. The revenues and associated operating losses attributable to this business, including a loss on the sale of this business recorded in the first quarter of 2023, have been excluded from the computation of adjusted operating income margin with effect from April 1, 2022, as management believes that excluding these items provides useful information about the Company's financial performance and underlying business trends.
18. Segment reporting (Continued)

Revenues and adjusted income from operations for each of the Company’s segments for the six months ended June 30, 2024 were as follows:
Net revenues
Data-Tech-AIDigital operationsTotalAOI
Financial Services292,234 333,378 625,612 100,098 
Consumer and Healthcare379,012 448,364 827,376 137,522 
High Tech and Manufacturing398,632 455,829 854,461 143,639 
Net revenues1,069,878 1,237,571 2,307,449 
Others(966)
Total AOI380,293 
Stock-based compensation(27,550)
Amortization and impairment of acquired intangible assets (other than included above)(13,469)
Foreign exchange gains (losses), net3,291 
Interest income (expense), net(23,780)
Income tax expense(79,848)
Net income238,937