
	Year ended December 31,
	2024						2023
	As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated
	(in thousands, except share and per share data)
Revenue	$	8,281,676	$	(92,686)	$	8,188,990	$	8,120,176	$	(65,250)	$	8,054,926

Costs and expenses:
Direct costs	5,845,319		(27,258)		5,818,061		5,719,949		(13,762)		5,706,187
Selling, general and administrative	728,348		—		728,348		768,559		—		768,559
Depreciation and amortization	488,500		—		488,500		585,950		—		585,950
Transaction and integration related	29,574		—		29,574		44,176		—		44,176
Restructuring	92,123		—		92,123		45,390		—		45,390


Total costs and expenses	7,183,864		(27,258)		7,156,606		7,164,024		(13,762)		7,150,262

Income from operations	1,097,812		(65,428)		1,032,384		956,152		(51,488)		904,664
Interest income	8,609		—		8,609		5,014		—		5,014
Interest expense	(237,237)		—		(237,237)		(336,699)		—		(336,699)

Income before income tax expense	869,184		(65,428)		803,756		624,467		(51,488)		572,979
Income tax expense	(77,710)		13,080		(64,630)		(11,749)		(6,639)		(18,388)

Income before share of losses from equity method investments	791,474		(52,348)		739,126		612,718		(58,127)		554,591
Share of losses from equity method investments	—		—		—		(383)		—		(383)
Net income	$	791,474	$	(52,348)	$	739,126	$	612,335	$	(58,127)	$	554,208

Net income per ordinary share:

Basic	$	9.60			$	8.96	$	7.46			$	6.75
Diluted	$	9.53			$	8.90	$	7.40			$	6.70





Weighted average number of ordinary shares outstanding:

Basic	82,482,764				82,482,764		82,101,813				82,101,813
Diluted	83,032,424				83,032,424		82,717,640				82,717,640


	December 31, 2024						December 31, 2023
	As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated
	(in thousands)
ASSETS
Current assets:
Cash and cash equivalents	$	538,785	$	—	$	538,785	$	378,102	$	—	$	378,102
Available for sale investments	—		—		—		1,954		—		1,954
Accounts receivable, net of allowance for credit losses	1,401,989		(9,225)		1,392,764		1,790,322		(25,918)		1,764,404
Unbilled revenue	1,286,274		(246,100)		1,040,174		951,936		(98,355)		853,581
Other receivables	79,487		—		79,487		65,797		—		65,797

Prepayments and other current assets	140,435		—		140,435		132,105		—		132,105
Income taxes receivable	83,523		—		83,523		91,254		—		91,254
Total current assets	$	3,530,493	$	(255,325)	$	3,275,168	$	3,411,470	$	(124,273)	$	3,287,197

Non-current assets:
Property, plant and equipment, net	382,879		—		382,879		361,184		—		361,184
Goodwill	9,051,410		—		9,051,410		9,022,075		—		9,022,075
Intangible assets, net	3,559,792		—		3,559,792		3,855,865		—		3,855,865
Operating right-of-use assets	147,602		—		147,602		140,333		—		140,333
Other receivables	72,796		—		72,796		78,470		—		78,470
Income taxes receivable	—		11,395		11,395		—		—		—
Deferred tax asset	74,758		1,074		75,832		73,662		(807)		72,855
Investments in equity	57,948		—		57,948		46,804		—		46,804
Total Assets	$	16,877,678	$	(242,856)	$	16,634,822	$	16,989,863	$	(125,080)	$	16,864,783

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable	173,025		—		173,025		131,584		—		131,584
Unearned revenue	1,614,758		(147,087)		1,467,671		1,654,507		(88,043)		1,566,464
Other liabilities	923,603		(13,827)		909,776		915,399		(7,248)		908,151

Income taxes payable	55,258		—		55,258		13,968		—		13,968
Current bank credit lines, loan facilities and notes	29,762		—		29,762		110,150		—		110,150
Total current liabilities	$	2,796,406	$	(160,914)	$	2,635,492	$	2,825,608	$	(95,291)	$	2,730,317

Non-current liabilities:
Non-current bank credit lines, loan facilities and notes, net	3,396,398		—		3,396,398		3,665,439		—		3,665,439
Lease liabilities	140,085		—		140,085		126,321		—		126,321
Non-current other liabilities	83,470		(752)		82,718		45,998		(752)		45,246
Non-current income taxes payable	125,834		1,710		127,544		186,654		1,052		187,706
Deferred tax liability	812,486		(1,255)		811,231		899,100		(792)		898,308
Commitments and contingencies	—		—		—		—		—		—
Total Liabilities	$	7,354,679	$	(161,211)	$	7,193,468	$	7,749,120	$	(95,783)	$	7,653,337


	December 31, 2024						December 31, 2023
	As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated
	(in thousands)
Shareholders' Equity:
Ordinary shares par value 6 euro cents per share; 100,000,000 shares authorized
80,756,860 shares issued and outstanding at December 31, 2024, (2023: 82,495,086)	6,586		—		6,586		6,699		—		6,699
Additional paid-in capital	7,020,231		—		7,020,231		6,942,669		—		6,942,669
Other undenominated capital	1,304		—		1,304		1,162		—		1,162
Accumulated other comprehensive loss	(229,929)		—		(229,929)		(143,506)		—		(143,506)
Retained earnings	2,724,807		(81,645)		2,643,162		2,433,719		(29,297)		2,404,422
Total Shareholders' Equity	$	9,522,999	$	(81,645)	$	9,441,354	$	9,240,743	$	(29,297)	$	9,211,446


Total Liabilities and Shareholders’ Equity	$	16,877,678	$	(242,856)	$	16,634,822	$	16,989,863	$	(125,080)	$	16,864,783


	Year ended December 31,
	2024						2023
	As Reported		Adjustments		As Restated		As Reported		Adjustments		As Restated
	(in thousands)
Cash flows provided by operating activities:
Net income	$	791,474	$	(52,348)	$	739,126	$	612,335	$	(58,127)	$	554,208

Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	488,500		—		488,500		585,950		—		585,950


Impairment of operating right-of-use assets and related property, plant and equipment	15,731		—		15,731		8,686		—		8,686
Reduction in carrying value of operating right-of-use assets	39,787		—		39,787		41,546		—		41,546
Loss on equity method investments	—		—		—		383		—		383
Acquisition-related gain	—		—		—		(6,160)		—		(6,160)

Amortization of financing costs and debt discount	23,533		—		23,533		16,402		—		16,402
Stock compensation expense	45,870		—		45,870		55,667		—		55,667


Deferred tax benefit	(100,542)		(2,344)		(102,886)		(85,403)		15		(85,388)
Unrealized foreign exchange movements	6,911		—		6,911		19,706		—		19,706
Other non-cash items	31,900		—		31,900		24,332		—		24,332
Changes in operating assets and liabilities:
Accounts receivable	349,309		(16,693)		332,616		(83,296)		25,918		(57,378)
Unbilled revenue	(339,921)		147,745		(192,176)		4,716		113,612		118,328
Unearned revenue	(37,743)		(59,044)		(96,787)		134,566		(88,043)		46,523
Other net assets	(28,157)		(17,316)		(45,473)		(168,403)		6,625		(161,778)
Net cash provided by operating activities	1,286,652		—		1,286,652		1,161,027		—		1,161,027

Cash flows used in investing activities:
Purchase of property, plant and equipment	(168,060)		—		(168,060)		(140,692)		—		(140,692)
Purchase of subsidiary undertakings (net of cash acquired)	(84,159)		—		(84,159)		(71,766)		—		(71,766)


Movement of available for sale investments	—		—		—		(241)		—		(241)
Proceeds from investments in equity	2,690		—		2,690		—		—		—
Purchase of investments in equity	(17,261)		—		(17,261)		(13,954)		—		(13,954)
Net cash used in investing activities	(266,790)		—		(266,790)		(226,653)		—		(226,653)

Cash flows used in financing activities:
Debt issue costs	(12,679)		—		(12,679)		—		—		—
Drawdown of credit lines and loan facilities	2,317,480		—		2,317,480		370,000		—		370,000
Repayment of credit lines and loan facilities	(2,677,763)		—		(2,677,763)		(1,265,000)		—		(1,265,000)

Proceeds from exercise of equity compensation	36,187		—		36,187		50,973		—		50,973
Share issue costs	(22)		—		(22)		(16)		—		(16)

Repurchase of ordinary shares	(499,998)		—		(499,998)		—		—		—
Share repurchase costs	(388)		—		(388)		—		—		—

Net cash used in financing activities	(837,183)		—		(837,183)		(844,043)		—		(844,043)

Effect of exchange rate movements on cash	(21,996)		—		(21,996)		(997)		—		(997)
Net increase in cash and cash equivalents	160,683		—		160,683		89,334		—		89,334
Cash and cash equivalents at beginning of year	378,102		—		378,102		288,768		—		288,768
Cash and cash equivalents at end of year	$	538,785	$	—	$	538,785	$	378,102	$	—	$	378,102