v3.26.1
Employee benefit plans
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
Employee benefit plans Employee benefit plans 
The Company has employee benefit plans in the form of certain statutory and other programs covering its employees.
 Defined benefit plans
In accordance with Indian law, the Company maintains a defined benefit retirement plan covering substantially all of its Indian employees. 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, Israel and Japan sponsor defined benefit retirement plans.
On November 21, 2025, the Government of India implemented four new labor codes—the Code on Wages, 2019, the Industrial Relations Code, 2020, the Code on Social Security, 2020, and the Occupational Safety, Health and Working Conditions Code, 2020—which consolidate 29 existing labor laws into a unified legislative framework. The implementation of these codes has significant accounting impacts for the Company's employee benefit obligations.
14. Employee benefit plans (Continued)
In accordance with ASC 715, the Company accounted for plan amendments in 2025 and recognized $19,055 as prior service costs in OCI as of the amendment date. The Company continued to review the requirements of the new labor codes and determined the final impact to be $15,362 and adjusted the amount previously recognized as prior service costs in OCI. The costs recognized in OCI as prior service costs will subsequently be reclassified to the Company's consolidated statements of income over the future service periods of employees active as of the amendment date who are expected to receive benefits under the plan.
The Company has assessed and disclosed the incremental impact of these legislative changes based on legal opinions received and the best available information. The Company continues to monitor the finalization of implementing rules and clarifications from the Government of India and will recognize any additional accounting effects as required.
Net defined benefit plan costs for the three months ended March 31, 2025 and 2026 include the following components: 
Three months ended March 31,
20252026
Service costs$4,892 $6,112 
Interest costs2,1592,769 
Amortization of actuarial loss 7495 
Amortization of prior service cost— 611 
Expected return on plan assets (1,707)(2,191)
Net defined benefit plan costs$5,418 $7,396 

Defined contribution plans
During the three months ended March 31, 2025 and 2026, the Company contributed the following amounts to defined contribution plans in various jurisdictions:
 
Three months ended March 31,
20252026
India$14,342 $15,124 
U.S.5,5185,701 
U.K.4,5837,447 
China7,3987,488 
Other Regions5,0934,981 
Total$36,934 $40,741 
14. Employee benefit plans (Continued)
 Deferred compensation plan
On July 1, 2018, Genpact LLC, a wholly-owned subsidiary of the Company, adopted an executive deferred compensation plan (the “Plan”). The Plan provides a select group of U.S.-based members of Company management with the opportunity to defer from 1% to 80% of their base salary and from 1% to 100% of their qualifying bonus compensation (or such other minimums or maximums as determined by the Plan administrator from time to time) pursuant to the terms of the Plan. Participant deferrals are 100% vested at all times. The Plan also allows for discretionary supplemental employer contributions by the Company, in its sole discretion, which will be subject to a two-year vesting schedule (50% vesting on the one-year anniversary of approval of the contribution and 50% vesting on the second year anniversary of approval of the contribution) or such other vesting schedule as determined by the Company. However, no such contributions have been made by the Company to date.
The Plan also provides an option for participants to elect to receive deferred compensation and earnings thereon on either fixed date(s) no earlier than two years following the applicable Plan year (or end of the applicable performance period for performance-based bonus compensation) or following a separation from service, in each case either in a lump sum or in annual installments over a term of up to 15 years. Participants can elect to change or re-defer their rights to receive the deferred compensation until the 10th anniversary following their separation from service, subject to fulfillment of certain conditions. Each Plan participant’s compensation deferrals are credited or debited with notional investment gains and losses equal to the performance of selected hypothetical investment funds offered under the Plan and elected by the participant.
The Company has investments in funds held in Company-owned life insurance policies which are held in a Rabbi Trust that are classified as trading securities. Management determines the appropriate classification of the securities at the time they are acquired and evaluates the appropriateness of such classifications at each balance sheet date.
The liability for the Plan was $74,820 and $76,178 as of December 31, 2025 and March 31, 2026, respectively, and is included in “accrued expenses and other current liabilities” and “other liabilities” in the consolidated balance sheets.
In connection with the administration of the Plan, the Company has purchased Company-owned life insurance policies insuring the lives of certain employees. The cash surrender value of these policies was $75,586 and $76,775 as of December 31, 2025 and March 31, 2026, respectively. The cash surrender value of these insurance policies is included in “other assets” in the consolidated balance sheets.
During the three months ended March 31, 2025 and 2026, the change in the fair value of deferred compensation plan assets was $(1,141) and $(1,437), respectively, which is included in “other income (expense), net,” in the consolidated statements of income. During the three months ended March 31, 2025 and 2026, the change in the fair value of deferred compensation plan liabilities was $(1,132) and $(1,428), respectively, which is included in “selling, general and administrative expenses.”