← COGNIZANT TECHNOLOGY SOLUTIONS CORP
| Annual Trend | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash flows from operating activities: | |||||||||||
| Adjustments to reconcile net income to net cash provided by operating activities: | |||||||||||
| Net Income (Loss) Attributable to Parent | $1.6b | $1.5b | $2.1b | $1.8b | $1.4b | $2.1b | $2.3b | $2.1b | $2.2b | $2.2b | |
| Amortization (Notes 6, 7, & 8) | $2.1m | $1.9m | $1.8m | $1.8m | $1.8m | $1.8m | $1.8m | $1.8m | $1.9m | $1.9m | |
| Amortization of Intangible Assets | $113.0m | $130.0m | $151.0m | $162.0m | $152.0m | $182.0m | $184.0m | $165.0m | $188.0m | $218.0m | |
| Amortization of deferred gain on sale of aircraft | $0 | ($104k) | ($155k) | $0 | — | — | — | — | — | — | |
| Capitalized Computer Software, Amortization | — | — | $14.0m | $22.0m | $30.0m | $33.0m | $37.0m | $37.0m | $36.0m | $43.0m | |
| Depreciation, Depletion and Amortization | $379.0m | $443.0m | $498.0m | $526.0m | $559.0m | $574.0m | $569.0m | $555.0m | $542.0m | $550.0m | |
| Non-cash lease amortization and accretion (Note 13) | — | — | — | — | — | — | $752k | $683k | $353k | $235k | |
| Deferred Income Tax Expense (Benefit) | ($91.0m) | $124.0m | $8.0m | ($306.0m) | $184.0m | $27.0m | ($273.0m) | ($339.0m) | ($355.0m) | $327.0m | |
| Deferred income taxes | ($91.0m) | $124.0m | $8.0m | ($306.0m) | $184.0m | $27.0m | ($273.0m) | ($339.0m) | ($355.0m) | $327.0m | |
| Equity Method Investment, Other than Temporary Impairment | — | — | — | $57.0m | — | — | — | — | — | — | |
| Share-based Payment Arrangement, Expense | $217.0m | $221.0m | $267.0m | — | — | — | $261.0m | $176.0m | $175.0m | $181.0m | |
| Share-based Payment Arrangement, Noncash Expense | $217.0m | $221.0m | $267.0m | $217.0m | $232.0m | $246.0m | $261.0m | $176.0m | $175.0m | $181.0m | |
| Gain (Loss) on Disposition of Property Plant Equipment | — | — | — | — | — | — | — | $0 | $0 | $62.0m | |
| Gain on extinguishment of liabilities (Note 25) | $0 | $0 | ($186k) | $0 | $0 | — | — | — | — | — | |
| Income (Loss) from Equity Method Investments | $1.0m | $2.0m | $2.0m | ($58.0m) | $0 | $3.0m | $4.0m | $7.0m | $15.0m | $9.0m | |
| Income Tax Expense | — | $73k | $0 | $0 | $0 | $0 | $0 | $0 | $0 | — | |
| Income Tax Expense (Benefit) | $805.0m | $1.2b | $698.0m | $643.0m | $704.0m | $693.0m | $730.0m | $668.0m | $713.0m | $1.3b | |
| Interest Expense | $16k | $4k | — | — | — | — | — | — | — | — | |
| Interest Expense Nonoperating | — | — | — | — | — | — | — | — | $54.0m | $37.0m | |
| Other Nonoperating Income (Expense) | $2.0m | ($3.0m) | ($2.0m) | $5.0m | $3.0m | $0 | $1.0m | $11.0m | $0 | $4.0m | |
| Changes in operating assets and liabilities: | |||||||||||
| Additional Financial Items | |||||||||||
| Noncash investing and financing activities: | |||||||||||
| Accounts Receivable, Credit Loss Expense (Reversal) | $12.0m | $15.0m | $13.0m | — | $8.0m | $6.0m | $9.0m | $12.0m | $12.0m | $11.0m | |
| Accounts payable | $6.0m | $16.0m | ($4.0m) | $8.0m | $109.0m | ($35.0m) | ($11.0m) | ($23.0m) | ($23.0m) | ($2.0m) | |
| Accretion expense (recovery) (Note 14) | — | — | — | $2k | $2k | ($404) | $2k | $2k | ($2k) | ($1k) | |
| Acquisition of intellectual property (Note 8) | — | — | — | $0 | $0 | ($65k) | $0 | $0 | — | — | |
| Aro Liabilities Settled (note 13) | — | $0 | $0 | ($7k) | ($809) | $0 | $0 | — | — | — | |
| Asset retirement obligations paid | $0 | ($821) | $0 | — | — | — | — | — | — | — | |
| Change in non-cash working capital balances (Note 22) | ($1.4m) | $829k | ($858k) | ($1.5m) | $626k | $14k | $1.8m | ($1.3m) | $1.9m | ($4.3m) | |
| Comprehensive income (loss) for the year | ($9.1m) | ($9.0m) | ($7.0m) | $3.8m | — | — | — | — | — | — | |
| Cost of equity-based transaction with non-employee | $0 | ($6k) | $0 | $0 | — | — | — | — | — | — | |
| Debt Securities, Available-for-sale, Realized Gain (Loss) | — | — | — | — | — | $0 | $0 | $0 | — | — | |
| Deferred rent | ($3k) | ($3k) | ($3k) | $0 | $0 | — | — | — | — | — | |
| Deferred revenue, current and noncurrent | ($38.0m) | $18.0m | ($86.0m) | $56.0m | $65.0m | $19.0m | ($26.0m) | ($4.0m) | $44.0m | $55.0m | |
| Foreign Currency Transaction Gain (Loss), before Tax | ($30.0m) | $67.0m | ($152.0m) | ($65.0m) | ($116.0m) | ($20.0m) | $7.0m | $2.0m | ($19.0m) | $18.0m | |
| Foreign exchange (gain) loss | — | — | — | — | — | $157 | ($14k) | ($25k) | $659k | ($297k) | |
| Gain on settlement of liabilities and deferred rent | — | ($3k) | ($189k) | $0 | — | — | — | — | — | — | |
| Goodwill | $2.6b | $2.7b | $3.5b | $4.0b | $5.0b | $5.6b | $5.7b | $6.1b | $7.0b | $7.1b | |
| Increase (Decrease) in Accounts Payable | $6.0m | $16.0m | ($4.0m) | $8.0m | $109.0m | ($35.0m) | ($11.0m) | ($23.0m) | ($23.0m) | ($2.0m) | |
| Increase (Decrease) in Accounts Receivable | $330.0m | $249.0m | $365.0m | ($37.0m) | ($264.0m) | $407.0m | $238.0m | $43.0m | $49.0m | $366.0m | |
| Increase in short-term investments | $602k | $503k | ($3.0m) | — | — | — | — | — | — | — | |
| Items not affecting cash | — | — | — | — | — | $2.1m | $3.8m | $619k | $5.1m | $3.5m | |
| Loss on disposal of assets and lease modifications | — | — | — | — | $0 | $0 | ($12k) | $0 | $135k | $7k | |
| Net funds used in targeted issuer bid (Note 15) | — | $0 | $0 | ($1.3m) | $0 | — | — | — | — | — | |
| Net loss | — | — | — | $3.8m | ($6.0m) | ($3.1m) | ($6.7m) | ($5.5m) | ($9.1m) | — | |
| Net proceeds from Rights Offering (Note 15) | $0 | $2.0m | $0 | $0 | — | $0 | $216k | $0 | $0 | — | |
| Non-cash Lease Costs | — | — | — | ($12k) | ($12k) | ($12k) | ($8k) | — | — | — | |
| Non-cash lease and interest (Note 25) | — | $0 | ($155k) | ($171k) | ($171k) | — | — | — | — | — | |
| Nonoperating Income (Expense) | $68.0m | $174.0m | ($4.0m) | $90.0m | ($18.0m) | $1.0m | $48.0m | $98.0m | $46.0m | $90.0m | |
| Other | ($3k) | ($3k) | — | — | — | — | — | — | — | — | |
| Other Operating Expense | — | — | — | — | — | $404 | $2k | $2k | — | — | |
| Other current and noncurrent assets | — | ($270.0m) | ($8.0m) | $159.0m | $73.0m | $348.0m | $343.0m | $123.0m | ($386.0m) | ($118.0m) | |
| Other current and noncurrent liabilities | $54.0m | $671.0m | $56.0m | ($159.0m) | $302.0m | ($413.0m) | ($392.0m) | ($242.0m) | ($96.0m) | $93.0m | |
| Other, net | $46.0m | ($86.0m) | $112.0m | $119.0m | $119.0m | ($1.0m) | $45.0m | $1.0m | $32.0m | ($5.0m) | |
| Prepaid Long-term insurance | — | — | — | — | — | $0 | $0 | ($12k) | $0 | $0 | |
| Proceeds from Stock Issuance | $499k | $36k | $5k | $0 | $0 | $43k | $0 | — | — | — | |
| Proceeds from borrowings under the revolving credit facility | — | — | $0 | $0 | $1.7b | $0 | $0 | $0 | $600.0m | $0 | |
| Proceeds from short-term investments (Note 3) | — | — | — | $76k | $3.4m | ($209k) | $550k | $0 | $0 | ($350k) | |
| Proceeds from stock options and restricted Stock Units | — | — | — | — | — | $0 | $0 | $4k | $0 | $66k | |
| Purchases of property and equipment, accrued but unpaid | $300.0m | $284.0m | $377.0m | $392.0m | $398.0m | $279.0m | $332.0m | $317.0m | $297.0m | $288.0m | |
| Remeasurement of convertible debentures (Note 11) | — | — | — | — | — | — | $0 | $0 | $297k | $5.4m | |
| Repayment of Term Loan borrowings and earnout and finance leases obligations | ($57.0m) | ($95.0m) | ($91.0m) | ($28.0m) | ($50.0m) | ($53.0m) | ($686.0m) | ($25.0m) | ($73.0m) | ($42.0m) | |
| Repayments of Long-Term Lines of Credit | — | — | $0 | $0 | $1.7b | $0 | $0 | $0 | ($300.0m) | ($300.0m) | |
| Settlement of payable with shares | $0 | $95k | $0 | $0 | — | — | — | — | — | — | |
| Share issuance costs for Geothermal (Note 15) | — | — | — | $0 | $0 | ($43k) | $0 | $0 | — | — | |
| Shares Purchased And Retired (note 16) | — | — | — | ($1.3m) | $0 | $0 | — | — | — | — | |
| Stock Repurchases (Issuances) | — | — | $0 | $0 | $8k | $69k | $50k | $36k | $42k | $43k | |
| Stock-based compensation expense | $217.0m | $221.0m | $267.0m | $217.0m | $232.0m | $246.0m | $261.0m | $176.0m | $175.0m | $181.0m | |
| Total | — | $829k | ($858k) | ($1.5m) | $626k | — | — | — | — | — | |
| Trade accounts receivable | ($330.0m) | ($249.0m) | ($365.0m) | $37.0m | $264.0m | ($407.0m) | ($238.0m) | ($43.0m) | ($49.0m) | ($366.0m) | |
| Unrealized Foreign Exchange (gain) Loss | $0 | $0 | ($45k) | $64k | $35k | $157 | $14k | — | — | — | |
| Valuation allowance of Bolivian Tax Credits | $0 | $208k | $0 | $0 | — | — | — | — | — | — | |
| Total Non-cash Items | $1.5m | $3.5m | $900k | $405k | $2.6m | $2.1m | $3.8m | — | — | — | |
| Net Cash Provided by (Used in) Operating Activities | $1.6b | $2.4b | $2.6b | $2.5b | $3.3b | $2.5b | $2.6b | $2.3b | $2.1b | $2.9b | |
| Cash flows from investing activities: | |||||||||||
| Payments to Acquire Property, Plant, and Equipment | $300.0m | $284.0m | $377.0m | $392.0m | $398.0m | $279.0m | $332.0m | $317.0m | $297.0m | $288.0m | |
| Payments for business combinations, net of cash acquired | — | ($216.0m) | ($1.1b) | ($617.0m) | ($1.1b) | ($970.0m) | ($367.0m) | ($409.0m) | ($1.6b) | $0 | |
| Payments to Acquire Businesses, Net of Cash Acquired | — | $216.0m | $1.1b | $617.0m | $1.1b | $970.0m | $367.0m | $409.0m | $1.6b | $0 | |
| Payments to Acquire Investments | $5.2b | — | — | — | — | — | — | — | — | — | |
| Purchases of available-for-sale investment securities | ($4.2b) | ($3.1b) | ($1.6b) | ($333.0m) | $0 | ($430.0m) | ($1.2b) | ($59.0m) | $0 | $0 | |
| Purchases of held-to-maturity investment securities | ($54.0m) | ($1.2b) | ($1.4b) | ($693.0m) | ($202.0m) | ($203.0m) | ($44.0m) | ($3.0m) | $0 | $0 | |
| Purchases of other investments | ($884.0m) | ($385.0m) | ($513.0m) | ($483.0m) | ($531.0m) | ($1.7b) | ($546.0m) | ($379.0m) | ($2.0m) | ($17.0m) | |
| Proceeds from maturity of available-for-sale investment securities | $4.0b | $3.4b | $1.8b | $2.1b | $0 | $120.0m | $1.3b | $285.0m | $0 | $0 | |
| Proceeds from maturity of held-to-maturity investment securities | $15.0m | $404.0m | $1.2b | $1.5b | $467.0m | $180.0m | $54.0m | $24.0m | $3.0m | $0 | |
| Proceeds from maturity or sale of other investments | $843.0m | $836.0m | $365.0m | $501.0m | $549.0m | $1.1b | $1.0b | $527.0m | $265.0m | $5.0m | |
| Net cash from (used in) investing activities | $527k | $3.1m | ($3.0m) | ($141k) | $3.4m | ($274k) | $550k | ($32k) | ($27k) | — | |
| Net Cash Provided by (Used in) Investing Activities | ($963.0m) | ($582.0m) | ($1.6b) | $1.6b | ($1.2b) | ($2.2b) | ($106.0m) | ($331.0m) | ($1.6b) | ($230.0m) | |
| Cash flows from financing activities: | |||||||||||
| Proceeds from Debt Issuance | — | — | — | $0 | $0 | $0 | $0 | $3.5m | $4.7m | $0 | |
| Repayment of long-term debt (Note 12) | — | — | — | — | — | $1.0m | ($65k) | ($111k) | ($111k) | ($111k) | |
| Issuance of common stock under stock-based compensation plans | $176.0m | $189.0m | $181.0m | $159.0m | $142.0m | $130.0m | $86.0m | $71.0m | $63.0m | $58.0m | |
| Payments for Repurchase of Common Stock | $512.0m | $1.9b | $1.3b | $2.2b | $1.6b | $771.0m | $1.4b | $1.1b | $605.0m | $1.4b | |
| Payments of Ordinary Dividends, Common Stock | — | $265.0m | $468.0m | $453.0m | $480.0m | $509.0m | $564.0m | $591.0m | $600.0m | $610.0m | |
| Repurchases of common stock | ($512.0m) | ($1.9b) | ($1.3b) | ($2.2b) | ($1.6b) | ($771.0m) | ($1.4b) | ($1.1b) | ($605.0m) | ($1.4b) | |
| Dividends paid | $0 | ($265.0m) | ($468.0m) | ($453.0m) | ($480.0m) | ($509.0m) | ($564.0m) | ($591.0m) | ($600.0m) | ($610.0m) | |
| Net Cash from Financing Activities | $0 | $0 | $9.2m | ($1.5m) | $0 | $0 | $0 | $1.6m | $0 | $2.8m | |
| Net Cash Provided by (Used in) Financing Activities | ($719.0m) | ($2.0b) | ($1.7b) | ($2.6b) | ($2.0b) | ($1.2b) | ($1.9b) | ($1.6b) | ($915.0m) | ($2.3b) | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | — | — | ($764.0m) | $1.5b | $35.0m | ($888.0m) | $502.0m | $423.0m | ($486.0m) | $403.0m | |
| Effect of Exchange Rate on Cash | — | — | $25k | $26k | ($117k) | — | — | — | — | — | |
| Effect of Exchange Rate on Cash, Cash Equivalent, Restricted Cash, and Restricted Cash Equivalent, Continuing Operation | — | — | — | ($38k) | ($17.0m) | ($16.0m) | ($21.0m) | $33.0m | ($49.0m) | $22.0m | |
| Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($764.0m) | $1.5b | $35.0m | ($888.0m) | ($21.0m) | $33.0m | ($49.0m) | $22.0m | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | — | — | ($764.0m) | $1.5b | $35.0m | ($888.0m) | $502.0m | $423.0m | ($486.0m) | $403.0m | |
| Decrease (increase) in restricted cash | $75k | $0 | $0 | — | — | — | — | — | — | — | |
| Net increase (decrease) in cash and cash equivalents | ($6.6m) | ($324k) | $173k | $2.5m | ($168k) | — | — | — | — | — | |
| Cash And Cash Equivalents, Beginning Of The Year | $7.1m | $490k | $167k | $340k | $2.9m | $2.7m | — | — | — | — | |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | — | — | ($764.0m) | $1.5b | $2.7b | $1.8b | $2.3b | $2.7b | $2.2b | $2.6b | |
| Cash, cash equivalents and restricted cash and cash equivalents, beginning of year | — | — | $1.2b | $2.6b | $2.7b | $1.8b | $2.3b | $2.7b | $2.2b | $2.6b | |
| Supplemental disclosure of cash flow information: | |||||||||||
| Interest Paid, Excluding Capitalized Interest, Operating Activities | $16.0m | $21.0m | $21.0m | $25.0m | $25.0m | $7.0m | $15.0m | $40.0m | $53.0m | $36.0m | |
| Income Taxes Paid, Net | $845.0m | $587.0m | $597.0m | $870.0m | $745.0m | $625.0m | $813.0m | $1.2b | $1.1b | $985 |
Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.