10-Q 1 acn-20240229.htm 10-Q acn-20240229
FALSE2024Q200014673738/31P6MP1Y00014673732023-09-012024-02-290001467373us-gaap:CommonClassAMember2024-03-08xbrli:shares0001467373acn:CommonClassXMember2024-03-0800014673732024-02-29iso4217:USD00014673732023-08-310001467373acn:OrdinarySharesMember2024-02-29iso4217:EURxbrli:shares0001467373acn:OrdinarySharesMember2023-08-310001467373us-gaap:CommonClassAMember2023-08-31iso4217:USDxbrli:shares0001467373us-gaap:CommonClassAMember2024-02-290001467373acn:CommonClassXMember2023-08-310001467373acn:CommonClassXMember2024-02-2900014673732023-12-012024-02-2900014673732022-12-012023-02-2800014673732022-09-012023-02-280001467373acn:OrdinarySharesMemberus-gaap:CommonStockMember2023-11-300001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2023-11-300001467373acn:CommonClassXMemberus-gaap:CommonStockMember2023-11-300001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2023-11-300001467373us-gaap:AdditionalPaidInCapitalMember2023-11-300001467373us-gaap:TreasuryStockCommonMember2023-11-300001467373us-gaap:RetainedEarningsMember2023-11-300001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-11-300001467373us-gaap:ParentMember2023-11-300001467373us-gaap:NoncontrollingInterestMember2023-11-3000014673732023-11-300001467373us-gaap:RetainedEarningsMember2023-12-012024-02-290001467373us-gaap:ParentMember2023-12-012024-02-290001467373us-gaap:NoncontrollingInterestMember2023-12-012024-02-290001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-012024-02-290001467373us-gaap:AdditionalPaidInCapitalMember2023-12-012024-02-290001467373us-gaap:TreasuryStockCommonMember2023-12-012024-02-290001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2023-12-012024-02-290001467373acn:CommonClassXMemberus-gaap:CommonStockMember2023-12-012024-02-290001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2023-12-012024-02-290001467373acn:OrdinarySharesMemberus-gaap:CommonStockMember2024-02-290001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2024-02-290001467373acn:CommonClassXMemberus-gaap:CommonStockMember2024-02-290001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2024-02-290001467373us-gaap:AdditionalPaidInCapitalMember2024-02-290001467373us-gaap:TreasuryStockCommonMember2024-02-290001467373us-gaap:RetainedEarningsMember2024-02-290001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2024-02-290001467373us-gaap:ParentMember2024-02-290001467373us-gaap:NoncontrollingInterestMember2024-02-290001467373acn:OrdinarySharesMemberus-gaap:CommonStockMember2022-11-300001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2022-11-300001467373acn:CommonClassXMemberus-gaap:CommonStockMember2022-11-300001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2022-11-300001467373us-gaap:AdditionalPaidInCapitalMember2022-11-300001467373us-gaap:TreasuryStockCommonMember2022-11-300001467373us-gaap:RetainedEarningsMember2022-11-300001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-11-300001467373us-gaap:ParentMember2022-11-300001467373us-gaap:NoncontrollingInterestMember2022-11-3000014673732022-11-300001467373us-gaap:RetainedEarningsMember2022-12-012023-02-280001467373us-gaap:ParentMember2022-12-012023-02-280001467373us-gaap:NoncontrollingInterestMember2022-12-012023-02-280001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-012023-02-280001467373us-gaap:AdditionalPaidInCapitalMember2022-12-012023-02-280001467373us-gaap:TreasuryStockCommonMember2022-12-012023-02-280001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2022-12-012023-02-280001467373acn:CommonClassXMemberus-gaap:CommonStockMember2022-12-012023-02-280001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2022-12-012023-02-280001467373acn:OrdinarySharesMemberus-gaap:CommonStockMember2023-02-280001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2023-02-280001467373acn:CommonClassXMemberus-gaap:CommonStockMember2023-02-280001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2023-02-280001467373us-gaap:AdditionalPaidInCapitalMember2023-02-280001467373us-gaap:TreasuryStockCommonMember2023-02-280001467373us-gaap:RetainedEarningsMember2023-02-280001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-02-280001467373us-gaap:ParentMember2023-02-280001467373us-gaap:NoncontrollingInterestMember2023-02-2800014673732023-02-280001467373acn:OrdinarySharesMemberus-gaap:CommonStockMember2023-08-310001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2023-08-310001467373acn:CommonClassXMemberus-gaap:CommonStockMember2023-08-310001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2023-08-310001467373us-gaap:AdditionalPaidInCapitalMember2023-08-310001467373us-gaap:TreasuryStockCommonMember2023-08-310001467373us-gaap:RetainedEarningsMember2023-08-310001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-08-310001467373us-gaap:ParentMember2023-08-310001467373us-gaap:NoncontrollingInterestMember2023-08-310001467373us-gaap:RetainedEarningsMember2023-09-012024-02-290001467373us-gaap:ParentMember2023-09-012024-02-290001467373us-gaap:NoncontrollingInterestMember2023-09-012024-02-290001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-09-012024-02-290001467373us-gaap:AdditionalPaidInCapitalMember2023-09-012024-02-290001467373us-gaap:TreasuryStockCommonMember2023-09-012024-02-290001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2023-09-012024-02-290001467373acn:CommonClassXMemberus-gaap:CommonStockMember2023-09-012024-02-290001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2023-09-012024-02-290001467373acn:OrdinarySharesMemberus-gaap:CommonStockMember2022-08-310001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2022-08-310001467373acn:CommonClassXMemberus-gaap:CommonStockMember2022-08-310001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2022-08-310001467373us-gaap:AdditionalPaidInCapitalMember2022-08-310001467373us-gaap:TreasuryStockCommonMember2022-08-310001467373us-gaap:RetainedEarningsMember2022-08-310001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-08-310001467373us-gaap:ParentMember2022-08-310001467373us-gaap:NoncontrollingInterestMember2022-08-3100014673732022-08-310001467373us-gaap:RetainedEarningsMember2022-09-012023-02-280001467373us-gaap:ParentMember2022-09-012023-02-280001467373us-gaap:NoncontrollingInterestMember2022-09-012023-02-280001467373us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-012023-02-280001467373us-gaap:AdditionalPaidInCapitalMember2022-09-012023-02-280001467373us-gaap:TreasuryStockCommonMember2022-09-012023-02-280001467373us-gaap:CommonClassAMemberus-gaap:CommonStockMember2022-09-012023-02-280001467373us-gaap:RestrictedStockUnitsRSUMemberus-gaap:CommonStockMember2022-09-012023-02-280001467373acn:CommonClassXMemberus-gaap:CommonStockMember2022-09-012023-02-2800014673732022-09-012023-08-310001467373srt:ScenarioForecastMember2023-09-012024-08-310001467373srt:NorthAmericaMember2023-12-012024-02-290001467373srt:NorthAmericaMember2022-12-012023-02-280001467373srt:NorthAmericaMember2023-09-012024-02-290001467373srt:NorthAmericaMember2022-09-012023-02-280001467373us-gaap:EMEAMember2023-12-012024-02-290001467373us-gaap:EMEAMember2022-12-012023-02-280001467373us-gaap:EMEAMember2023-09-012024-02-290001467373us-gaap:EMEAMember2022-09-012023-02-280001467373acn:GrowthMarketsMember2023-12-012024-02-290001467373acn:GrowthMarketsMember2022-12-012023-02-280001467373acn:GrowthMarketsMember2023-09-012024-02-290001467373acn:GrowthMarketsMember2022-09-012023-02-2800014673732024-03-012024-02-29xbrli:pure00014673732024-09-012024-02-290001467373us-gaap:SeriesOfIndividuallyImmaterialBusinessAcquisitionsMember2023-09-012024-02-290001467373srt:NorthAmericaMember2023-08-310001467373srt:NorthAmericaMember2023-09-012024-02-290001467373srt:NorthAmericaMember2024-02-290001467373us-gaap:EMEAMember2023-08-310001467373us-gaap:EMEAMember2023-09-012024-02-290001467373us-gaap:EMEAMember2024-02-290001467373acn:GrowthMarketsMember2023-08-310001467373acn:GrowthMarketsMember2023-09-012024-02-290001467373acn:GrowthMarketsMember2024-02-290001467373us-gaap:CustomerRelatedIntangibleAssetsMember2023-08-310001467373us-gaap:CustomerRelatedIntangibleAssetsMember2024-02-290001467373us-gaap:TechnologyBasedIntangibleAssetsMember2023-08-310001467373us-gaap:TechnologyBasedIntangibleAssetsMember2024-02-290001467373us-gaap:PatentsMember2023-08-310001467373us-gaap:PatentsMember2024-02-290001467373us-gaap:OtherIntangibleAssetsMember2023-08-310001467373us-gaap:OtherIntangibleAssetsMember2024-02-2900014673732023-11-152023-11-150001467373us-gaap:CommonClassAMember2023-11-152023-11-1500014673732024-02-152024-02-150001467373us-gaap:CommonClassAMember2024-02-152024-02-150001467373us-gaap:CommonClassAMember2023-09-012024-02-290001467373us-gaap:RestrictedStockUnitsRSUMember2023-09-012024-02-290001467373us-gaap:CommonClassAMemberus-gaap:SubsequentEventMember2024-03-202024-03-200001467373us-gaap:OtherCurrentAssetsMemberus-gaap:CashFlowHedgingMember2024-02-290001467373us-gaap:OtherCurrentAssetsMemberus-gaap:CashFlowHedgingMember2023-08-310001467373us-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMember2024-02-290001467373us-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMember2023-08-310001467373us-gaap:OtherCurrentAssetsMemberacn:OtherDerivativeInstrumentsMember2024-02-290001467373us-gaap:OtherCurrentAssetsMemberacn:OtherDerivativeInstrumentsMember2023-08-310001467373us-gaap:OtherCurrentLiabilitiesMemberus-gaap:CashFlowHedgingMember2024-02-290001467373us-gaap:OtherCurrentLiabilitiesMemberus-gaap:CashFlowHedgingMember2023-08-310001467373us-gaap:OtherLiabilitiesMemberus-gaap:CashFlowHedgingMember2024-02-290001467373us-gaap:OtherLiabilitiesMemberus-gaap:CashFlowHedgingMember2023-08-310001467373us-gaap:OtherCurrentLiabilitiesMemberacn:OtherDerivativeInstrumentsMember2024-02-290001467373us-gaap:OtherCurrentLiabilitiesMemberacn:OtherDerivativeInstrumentsMember2023-08-31acn:reportableSegment0001467373acn:CommunicationsMediaAndTechnologyMember2023-12-012024-02-290001467373acn:CommunicationsMediaAndTechnologyMember2022-12-012023-02-280001467373acn:CommunicationsMediaAndTechnologyMember2023-09-012024-02-290001467373acn:CommunicationsMediaAndTechnologyMember2022-09-012023-02-280001467373acn:FinancialServicesSegmentMember2023-12-012024-02-290001467373acn:FinancialServicesSegmentMember2022-12-012023-02-280001467373acn:FinancialServicesSegmentMember2023-09-012024-02-290001467373acn:FinancialServicesSegmentMember2022-09-012023-02-280001467373acn:HealthAndPublicServiceSegmentMember2023-12-012024-02-290001467373acn:HealthAndPublicServiceSegmentMember2022-12-012023-02-280001467373acn:HealthAndPublicServiceSegmentMember2023-09-012024-02-290001467373acn:HealthAndPublicServiceSegmentMember2022-09-012023-02-280001467373acn:ProductsSegmentMember2023-12-012024-02-290001467373acn:ProductsSegmentMember2022-12-012023-02-280001467373acn:ProductsSegmentMember2023-09-012024-02-290001467373acn:ProductsSegmentMember2022-09-012023-02-280001467373acn:ResourcesSegmentMember2023-12-012024-02-290001467373acn:ResourcesSegmentMember2022-12-012023-02-280001467373acn:ResourcesSegmentMember2023-09-012024-02-290001467373acn:ResourcesSegmentMember2022-09-012023-02-280001467373acn:ConsultingRevenueMember2023-12-012024-02-290001467373acn:ConsultingRevenueMember2022-12-012023-02-280001467373acn:ConsultingRevenueMember2023-09-012024-02-290001467373acn:ConsultingRevenueMember2022-09-012023-02-280001467373acn:OutsourcingRevenueMember2023-12-012024-02-290001467373acn:OutsourcingRevenueMember2022-12-012023-02-280001467373acn:OutsourcingRevenueMember2023-09-012024-02-290001467373acn:OutsourcingRevenueMember2022-09-012023-02-28


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
☑QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended February 29, 2024
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from             to            
Commission File Number: 001-34448
acn-20200831_g1.gif
Accenture plc
(Exact name of registrant as specified in its charter)
Ireland98-0627530
(State or other jurisdiction of
incorporation or organization)		(I.R.S. Employer
Identification No.)
1 Grand Canal Square,
Grand Canal Harbour,
Dublin 2, Ireland
(Address of principal executive offices)
(353) (1) 646-2000
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A ordinary shares, par value $0.0000225 per shareACNNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐
Smaller reporting company☐Emerging growth company☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑
The number of shares of the registrant’s Class A ordinary shares, par value $0.0000225 per share, outstanding as of March 8, 2024 was 670,421,742 (which number includes 41,692,798 issued shares held by the registrant). The number of shares of the registrant’s Class X ordinary shares, par value $0.0000225 per share, outstanding as of March 8, 2024 was 314,754.


Table of Contents
Page
Part I.
Item 1.
Item 2.
Item 3.
Item 4.
Part II.
Item 1.
Item 1A.
Item 2.
Item 3.
Item 4.
Item 5.
Item 6.

Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts)
ACCENTURE FORM 10-Q
3


Part I — Financial Information
Item 1. Financial Statements
Consolidated Balance Sheets
February 29, 2024 and August 31, 2023
February 29, 2024August 31, 2023
ASSETS(Unaudited)
CURRENT ASSETS:
Cash and cash equivalents$5,121,107 $9,045,032 
Short-term investments4,540 4,575 
Receivables and contract assets13,080,504 12,227,186 
Other current assets2,122,670 2,105,138 
Total current assets20,328,821 23,381,931 
NON-CURRENT ASSETS:
Contract assets126,355 106,994 
Investments238,934 197,443 
Property and equipment, net1,458,836 1,530,007 
Lease assets2,635,038 2,637,479 
Goodwill17,947,306 15,573,003 
Deferred contract costs815,715 851,972 
Deferred tax assets4,098,881 4,154,878 
Other non-current assets3,657,585 2,811,598 
Total non-current assets30,978,650 27,863,374 
TOTAL ASSETS$51,307,471 $51,245,305 
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt and bank borrowings$111,141 $104,810 
Accounts payable2,228,446 2,491,173 
Deferred revenues5,363,972 4,907,152 
Accrued payroll and related benefits5,955,341 7,506,030 
Income taxes payable420,452 720,778 
Lease liabilities682,553 690,417 
Other accrued liabilities1,374,109 1,588,678 
Total current liabilities16,136,014 18,009,038 
NON-CURRENT LIABILITIES:
Long-term debt71,635 43,093 
Deferred revenues647,020 653,954 
Retirement obligation1,607,405 1,595,638 
Deferred tax liabilities454,496 395,280 
Income taxes payable1,304,336 1,313,971 
Lease liabilities2,293,252 2,310,714 
Other non-current liabilities836,889 465,024 
Total non-current liabilities7,215,033 6,777,674 
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Ordinary shares, par value 1.00 euros per share, 40,000 shares authorized and issued as of February 29, 2024 and August 31, 2023
57 57 
Class A ordinary shares, par value $0.0000225 per share, 20,000,000,000 shares authorized, 670,405,499 and 664,616,285 shares issued as of February 29, 2024 and August 31, 2023, respectively
15 15 
Class X ordinary shares, par value $0.0000225 per share, 1,000,000,000 shares authorized, 314,754 and 325,438 shares issued and outstanding as of February 29, 2024 and August 31, 2023, respectively
— — 
Restricted share units1,863,338 2,403,374 
Additional paid-in capital14,555,758 12,778,782 
Treasury shares, at cost: Ordinary, 40,000 shares as of February 29, 2024 and August 31, 2023; Class A ordinary, 41,577,466 and 36,351,137 shares as of February 29, 2024 and August 31, 2023, respectively
(8,790,812)(7,062,512)
Retained earnings21,151,637 19,316,224 
Accumulated other comprehensive loss(1,657,140)(1,743,101)
Total Accenture plc shareholders’ equity27,122,853 25,692,839 
Noncontrolling interests833,571 765,754 
Total shareholders’ equity27,956,424 26,458,593 
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY$51,307,471 $51,245,305 
The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts)
ACCENTURE FORM 10-Q
4


Consolidated Income Statements
For the Three and Six Months Ended February 29, 2024 and February 28, 2023
(Unaudited)
Three Months EndedSix Months Ended
February 29, 2024February 28, 2023February 29, 2024February 28, 2023
REVENUES:
Revenues $15,799,514 $15,814,158 $32,023,817 $31,561,960 
OPERATING EXPENSES:
Cost of services 10,921,045 10,979,392 21,697,407 21,541,052 
Sales and marketing 1,631,185 1,563,567 3,341,076 3,113,586 
General and administrative costs 1,085,448 1,082,228 2,118,947 2,125,251 
Business optimization costs115,409 244,390 255,073 244,390 
Total operating expenses13,753,087 13,869,577 27,412,503 27,024,279 
OPERATING INCOME2,046,427 1,944,581 4,611,314 4,537,681 
Interest income65,269 50,259 167,249 94,964 
Interest expense(10,305)(11,634)(24,800)(18,914)
Other income (expense), net (5,652)(36,300)(41,371)(65,207)
INCOME BEFORE INCOME TAXES2,095,739 1,946,906 4,712,392 4,548,524 
Income tax expense386,537 396,223 993,209 1,001,541 
NET INCOME1,709,202 1,550,683 3,719,183 3,546,983 
Net income attributable to noncontrolling interests in Accenture Canada Holdings Inc.(1,675)(1,604)(3,691)(3,689)
Net income attributable to noncontrolling interests – other(32,668)(25,431)(67,189)(54,696)
NET INCOME ATTRIBUTABLE TO ACCENTURE PLC$1,674,859 $1,523,648 $3,648,303 $3,488,598 
Weighted average Class A ordinary shares:
Basic629,016,555 630,845,147 628,488,831 630,485,134 
Diluted636,797,814 637,735,390 637,069,356 638,350,779 
Earnings per Class A ordinary share:
Basic$2.66 $2.42 $5.80 $5.53 
Diluted$2.63 $2.39 $5.73 $5.47 
Cash dividends per share$1.29 $1.12 $2.58 $2.24 
The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Financial Statements
(In thousands of U.S. dollars)
ACCENTURE FORM 10-Q
5
Consolidated Statements of Comprehensive Income
For the Three and Six Months Ended February 29, 2024 and February 28, 2023
(Unaudited)
Three Months EndedSix Months Ended
February 29, 2024February 28, 2023February 29, 2024February 28, 2023
NET INCOME$1,709,202 $1,550,683 $3,719,183 $3,546,983 
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation(91,773)112,625 (23,581)196,793 
Defined benefit plans5,238 6,539 41,630 98,219 
Cash flow hedges56,610 (7,762)67,912 (48,940)
OTHER COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ACCENTURE PLC(29,925)111,402 85,961 246,072 
Other comprehensive income (loss) attributable to noncontrolling interests(2,257)2,469 (372)5,338 
COMPREHENSIVE INCOME$1,677,020 $1,664,554 $3,804,772 $3,798,393 
COMPREHENSIVE INCOME ATTRIBUTABLE TO ACCENTURE PLC$1,644,934 $1,635,050 $3,734,264 $3,734,670 
Comprehensive income attributable to noncontrolling interests32,086 29,504 70,508 63,723 
COMPREHENSIVE INCOME$1,677,020 $1,664,554 $3,804,772 $3,798,393 
The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Financial Statements
(In thousands of U.S. dollars and share amounts)
ACCENTURE FORM 10-Q
6
Consolidated Shareholders’ Equity Statement
For the Three Months Ended February 29, 2024
(Unaudited)
 Ordinary
Shares		Class A
Ordinary
Shares		Class X
Ordinary
Shares		Restricted
Share
Units		Additional
Paid-in
Capital		Treasury SharesRetained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Accenture plc
Shareholders’
Equity		Noncontrolling
Interests		Total
Shareholders’
Equity
 $No.
Shares		$No.
Shares		$No.
Shares		$No.
Shares
Balance as of November 30, 2023$57 40 $15 666,512 $— 318 $2,553,022 $13,353,477 $(8,032,018)(39,560)$20,429,413 $(1,627,215)$26,676,751 $808,686 $27,485,437 
Net income1,674,859 1,674,859 34,343 1,709,202 
Other comprehensive income (loss)(29,925)(29,925)(2,257)(32,182)
Purchases of Class A shares1,153 (1,318,412)(3,742)(1,317,259)(1,153)(1,318,412)
Share-based compensation expense641,871 641,871 641,871 
Purchases/redemptions of Accenture Canada Holdings Inc. exchangeable shares and Class X shares(3)(3,434)(3,434)(3,434)
Issuances of Class A shares for employee share programs3,893 (1,369,402)1,197,930 559,618 1,685 (103,022)285,124 249 285,373 
Dividends37,847 (849,613)(811,766)(812)(812,578)
Other, net6,632 6,632 (5,485)1,147 
Balance as of February 29, 2024$57 40 $15 670,405 $— 315 $1,863,338 $14,555,758 $(8,790,812)(41,617)$21,151,637 $(1,657,140)$27,122,853 $833,571 $27,956,424 
The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Financial Statements
(In thousands of U.S. dollars and share amounts)
ACCENTURE FORM 10-Q
7
Consolidated Shareholders’ Equity Statement — (continued)
For the Three Months Ended February 28, 2023
(Unaudited)
 Ordinary
Shares		Class A
Ordinary
Shares		Class X
Ordinary
Shares		Restricted
Share
Units		Additional
Paid-in
Capital		Treasury SharesRetained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Accenture plc
Shareholders’
Equity		Noncontrolling
Interests		Total
Shareholders’
Equity
 $No.
Shares		$No.
Shares		$No.
Shares		$No.
Shares
Balance as of November 30, 2022$57 40 $15 658,255 $— 499 $2,167,437 $11,051,309 $(5,169,967)(28,850)$16,981,432 $(2,055,672)$22,974,611 $691,339 $23,665,950 
Net income1,523,648 1,523,648 27,035 1,550,683 
Other comprehensive income (loss)111,402 111,402 2,469 113,871 
Purchases of Class A shares1,014 (1,117,535)(4,085)(1,116,521)(1,014)(1,117,535)
Share-based compensation expense631,871 (1)631,870 631,870 
Purchases/redemptions of Accenture Canada Holdings Inc. exchangeable shares and Class X shares(160)(676)(676)(676)
Issuances of Class A shares for employee share programs4,151 (1,193,792)1,108,186 694,492 1,754 (267,284)341,602 312 341,914 
Dividends30,639 (737,795)(707,156)(866)(708,022)
Other, net3,839 3,839 (24,616)(20,777)
Balance as of February 28, 2023$57 40 $15 662,406 $— 339 $1,636,155 $12,163,671 $(5,593,010)(31,181)$17,500,001 $(1,944,270)$23,762,619 $694,659 $24,457,278 
The accompanying Notes are an integral part of these Consolidated Financial Statements.













Consolidated Financial Statements
(In thousands of U.S. dollars and share amounts)
ACCENTURE FORM 10-Q
8
Consolidated Shareholders’ Equity Statement — (continued)
For the Six Months Ended February 29, 2024
(Unaudited)
Ordinary
Shares		Class A
Ordinary
Shares		Class X
Ordinary
Shares		Restricted
Share
Units		Additional
Paid-in
Capital		Treasury SharesRetained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Accenture plc
Shareholders’
Equity		Noncontrolling
Interests		Total
Shareholders’
Equity
$No.
Shares		$No.
Shares		$No.
Shares		$No.
Shares
Balance as of August 31, 2023$57 40 $15 664,616 $— 325 $2,403,374 $12,778,782 $(7,062,512)(36,391)$19,316,224 $(1,743,101)$25,692,839 $765,754 $26,458,593 
Net income3,648,303 3,648,303 70,880 3,719,183 
Other comprehensive income (loss)85,961 85,961 (372)85,589 
Purchases of Class A shares2,203 (2,506,701)(7,552)(2,504,498)(2,203)(2,506,701)
Share-based compensation expense1,007,582 57,289 1,064,871 1,064,871 
Purchases/redemptions of Accenture Canada Holdings Inc. exchangeable shares and Class X shares(10)(6,273)(6,273)(6,273)
Issuances of Class A shares for employee share programs5,789 (1,614,744)1,723,265 778,401 2,326 (124,773)762,149 658 762,807 
Dividends67,126 (1,688,117)(1,620,991)(1,643)(1,622,634)
Other, net492 492 497 989 
Balance as of February 29, 2024$57 40 $15 670,405 $— 315 $1,863,338 $14,555,758 $(8,790,812)(41,617)$21,151,637 $(1,657,140)$27,122,853 $833,571 $27,956,424 
The accompanying Notes are an integral part of these Consolidated Financial Statements.














Consolidated Financial Statements
(In thousands of U.S. dollars and share amounts)
ACCENTURE FORM 10-Q
9
Consolidated Shareholders’ Equity Statement — (continued)
For the Six Months Ended February 28, 2023
(Unaudited)
Ordinary
Shares		Class A
Ordinary
Shares		Class X
Ordinary
Shares		Restricted
Share
Units		Additional
Paid-in
Capital		Treasury SharesRetained
Earnings		Accumulated
Other
Comprehensive
Loss		Total
Accenture plc
Shareholders’
Equity		Noncontrolling
Interests		Total
Shareholders’
Equity
$No.
Shares		$No.
Shares		$No.
Shares		$No.
Shares
Balance as of August 31, 2022$57 40 $15 664,561 $— 501 $2,091,382 $10,679,180 $(6,678,037)(33,434)$18,203,842 $(2,190,342)$22,106,097 $640,991 $22,747,088 
Net income3,488,598 3,488,598 58,385 3,546,983 
Other comprehensive income (loss)246,072 246,072 5,338 251,410 
Purchases of Class A shares2,318 (2,534,683)(9,295)(2,532,365)(2,318)(2,534,683)
Cancellation of treasury shares(8,828)(175,701)2,595,281 8,828 (2,419,580)— — 
Share-based compensation expense1,001,365 55,974 1,057,339 1,057,339 
Purchases/redemptions of Accenture Canada Holdings Inc. exchangeable shares and Class X shares(162)(2,230)(2,230)(2,230)
Issuances of Class A shares for employee share programs6,673 (1,512,994)1,599,816 1,024,429 2,720 (304,363)806,888 733 807,621 
Dividends56,402 (1,468,496)(1,412,094)(1,495)(1,413,589)
Other, net4,314 4,314 (6,975)(2,661)
Balance as of February 28, 2023$57 40 $15 662,406 $— 339 $1,636,155 $12,163,671 $(5,593,010)(31,181)$17,500,001 $(1,944,270)$23,762,619 $694,659 $24,457,278 
The accompanying Notes are an integral part of these Consolidated Financial Statements.

Consolidated Financial Statements
 (In thousands of U.S. dollars)
ACCENTURE FORM 10-Q
10
Consolidated Cash Flows Statements
For the Six Months Ended February 29, 2024 and February 28, 2023
(Unaudited)
February 29, 2024February 28, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income$3,719,183 $3,546,983 
Adjustments to reconcile Net income to Net cash provided by (used in) operating activities —
Depreciation, amortization and other1,050,328 1,038,705 
Share-based compensation expense1,064,871 1,057,339 
Deferred tax expense (benefit)(34,140)(92,295)
Other, net(167,097)57,334 
Change in assets and liabilities, net of acquisitions —
Receivables and contract assets, current and non-current(647,335)(358,519)
Other current and non-current assets(627,563)(535,273)
Accounts payable(313,941)(151,738)
Deferred revenues, current and non-current432,849 419,313 
Accrued payroll and related benefits(1,540,799)(1,713,468)
Income taxes payable, current and non-current(309,203)(110,828)
Other current and non-current liabilities(27,559)(332,044)
Net cash provided by (used in) operating activities2,599,594 2,825,509 
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment(178,756)(206,378)
Purchases of businesses and investments, net of cash acquired(2,909,480)(1,076,987)
Proceeds from the sale of businesses and investments20,905 17,875 
Other investing, net3,653 5,119 
Net cash provided by (used in) investing activities(3,063,678)(1,260,371)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of shares762,807 807,621 
Purchases of shares(2,512,974)(2,536,913)
Proceeds from (repayments of) debt, net(12,196)(408)
Cash dividends paid(1,622,634)(1,413,589)
Other financing, net(32,657)(48,912)
Net cash provided by (used in) financing activities(3,417,654)(3,192,201)
Effect of exchange rate changes on cash and cash equivalents(42,187)(23,983)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS(3,923,925)(1,651,046)
CASH AND CASH EQUIVALENTS, beginning of period
9,045,032 7,889,833 
CASH AND CASH EQUIVALENTS, end of period
$5,121,107 $6,238,787 
SUPPLEMENTAL CASH FLOW INFORMATION:
Income taxes paid, net$1,487,004 $1,318,515 
The accompanying Notes are an integral part of these Consolidated Financial Statements.



Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
11

1. Basis of Presentation
The accompanying unaudited interim Consolidated Financial Statements of Accenture plc and its controlled subsidiary companies have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q and do not include all of the information and note disclosures required by U.S. generally accepted accounting principles (“U.S. GAAP”) for complete financial statements. We use the terms “Accenture,” “we” and “our” in the Notes to Consolidated Financial Statements to refer to Accenture plc and its subsidiaries. These Consolidated Financial Statements should therefore be read in conjunction with the Consolidated Financial Statements and Notes thereto for the fiscal year ended August 31, 2023 included in our Annual Report on Form 10-K filed with the SEC on October 12, 2023.
The accompanying unaudited interim Consolidated Financial Statements have been prepared in accordance with U.S. GAAP, which requires management to make estimates and assumptions that affect amounts reported in the Consolidated Financial Statements and accompanying disclosures. Although these estimates are based on management’s best knowledge of current events and actions that we may undertake in the future, actual results may differ from those estimates. The Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of results for these interim periods. The results of operations for the three and six months ended February 29, 2024 are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2024.
Allowance for Credit Losses—Client Receivables and Contract Assets
As of February 29, 2024 and August 31, 2023, the total allowance for credit losses recorded for client receivables and contract assets was $23,887 and $26,343, respectively. The change in the allowance is primarily due to immaterial write-offs and changes in gross client receivables and contract assets.
Investments
All available-for-sale securities and liquid investments with an original maturity greater than three months but less than one year are considered to be Short-term investments. Non-current investments consist of equity securities in publicly-traded and privately-held companies and are accounted for using either the equity or fair value measurement alternative method of accounting (for investments without readily determinable fair values).
Our non-current investments are as follows:
February 29, 2024August 31, 2023
Equity method investments$24,511 $23,985 
Investments without readily determinable fair values214,423 173,458 
Total non-current investments$238,934 $197,443 
For investments in which we can exercise significant influence but do not control, we use the equity method of accounting. Equity method investments are initially recorded at cost and our proportionate share of gains and losses of the investee are included as a component of Other income (expense), net.








Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
12

Depreciation and Amortization
As of February 29, 2024 and August 31, 2023, total accumulated depreciation was $2,730,911 and $2,574,685, respectively. See table below for a summary of depreciation on fixed assets, deferred transition amortization, intangible assets amortization and operating lease cost for the three and six months ended February 29, 2024 and February 28, 2023, respectively.
 Three Months EndedSix Months Ended
 February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Depreciation$134,997 $137,742 $268,242 $281,791 
Amortization - Deferred transition92,865 85,160 191,356 155,600 
Amortization - Intangible assets119,625 120,212 231,256 229,281 
Operating lease cost173,215 184,226 348,229 364,728 
Other8,226 5,136 11,245 7,305 
Total depreciation, amortization and other$528,928 $532,476 $1,050,328 $1,038,705 
Business Optimization
During the second quarter of fiscal 2023, we initiated actions to streamline our operations, transform our non-billable corporate functions and consolidate our office space to reduce costs. We recorded $1.1 billion in fiscal 2023 related to these actions and expect to record approximately $450 million in fiscal 2024 for a total of $1.5 billion, primarily related to employee severance. The actual amount and timing of severance and other personnel costs are dependent in part upon local country consultation processes and regulations and may differ from our current expectations and estimates.
Total business optimization costs by reportable operating segment for the three and six months ended February 29, 2024 and February 28, 2023, respectively, were as follows:
Three Months EndedSix Months Ended
February 29, 2024February 28, 2023February 29, 2024February 28, 2023
North America$4,689 $176,980 $50,618 $176,980 
EMEA (1)85,561 40,960 156,365 40,960 
Growth Markets (1)25,159 26,450 48,090 26,450 
Total business optimization costs$115,409 $244,390 $255,073 $244,390 
(1)Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts have been reclassified to conform with the current period presentation.
New Accounting Pronouncements
On November 27, 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-07, Improvements to Reportable Segment Disclosures, which requires entities to enhance disclosures regarding their segments, including significant segment expenses. The ASU will be effective beginning with our annual fiscal 2025 financial statements and requires a retrospective method upon adoption. We are currently evaluating the impact of this standard on our segment disclosures.
On December 14, 2023, the FASB issued ASU No. 2023-09, Improvements to Income Tax Disclosures, which requires disclosure of disaggregated income taxes paid, prescribes standard categories for the components of the effective tax rate reconciliation, and modifies other income tax-related disclosures. The ASU will be effective beginning with our annual fiscal 2026 financial statements and allows for adoption on a prospective basis, with a retrospective option. We are in the process of assessing the impacts and method of adoption. This ASU will impact our income tax disclosures, but not our Consolidated Financial Statements.



Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
13

2. Revenues
Disaggregation of Revenue
See Note 11 (Segment Reporting) to these Consolidated Financial Statements for our disaggregated revenues.
Remaining Performance Obligations
We had remaining performance obligations of approximately $27 billion and $26 billion as of February 29, 2024 and August 31, 2023, respectively. Our remaining performance obligations represent the amount of transaction price for which work has not been performed and revenue has not been recognized. The majority of our contracts are terminable by the client on short notice with little or no termination penalties, and some without notice. Under Topic 606, only the non-cancelable portion of these contracts is included in our performance obligations. Additionally, our performance obligations only include variable consideration if we assess it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty is resolved. Based on the terms of our contracts, a significant portion of what we consider contract bookings is not included in our remaining performance obligations. We expect to recognize approximately 51% of our remaining performance obligations as of February 29, 2024 as revenue in fiscal 2024, an additional 26% in fiscal 2025, and the balance thereafter.
Contract Estimates
Adjustments in contract estimates related to performance obligations satisfied or partially satisfied in prior periods were immaterial for the three and six months ended February 29, 2024 and February 28, 2023, respectively.
Contract Balances
Deferred transition revenues were $647,020 and $653,954 as of February 29, 2024 and August 31, 2023, respectively, and are included in Non-current deferred revenues. Costs related to these activities are also deferred and are expensed as the services are provided. Deferred transition costs were $815,715 and $851,972 as of February 29, 2024 and August 31, 2023, respectively, and are included in Deferred contract costs. Generally, deferred transition costs are recoverable under the contract in the event of early termination and are monitored regularly for impairment. Impairment losses are recorded when projected remaining undiscounted operating cash flows of the related contract are not sufficient to recover the carrying amount of contract assets.
The following table provides information about the balances of our Receivables and Contract assets, net of allowance, and Contract liabilities (Deferred revenues):
As of February 29, 2024As of August 31, 2023
Receivables$11,374,099 $10,690,713 
Contract assets (current)1,706,405 1,536,473 
Receivables and contract assets, net of allowance (current)13,080,504 12,227,186 
Contract assets (non-current)126,355 106,994 
Deferred revenues (current)5,363,972 4,907,152 
Deferred revenues (non-current)647,020 653,954 
Changes in the contract asset and liability balances during the six months ended February 29, 2024 were a result of normal business activity and not materially impacted by any other factors.
Revenues recognized during the three and six months ended February 29, 2024 that were included in Deferred revenues as of November 30, 2023 and August 31, 2023 were $2.5 billion and $3.6 billion, respectively. Revenues recognized during the three and six months ended February 28, 2023 that were included in Deferred revenues as of November 30, 2022 and August 31, 2022 were $2.5 billion and $3.3 billion, respectively.

Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
14

3. Earnings Per Share
Basic and diluted earnings per share are calculated as follows:
 Three Months EndedSix Months Ended
 February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Basic earnings per share
Net income attributable to Accenture plc$1,674,859 $1,523,648 $3,648,303 $3,488,598 
Basic weighted average Class A ordinary shares629,016,555 630,845,147 628,488,831 630,485,134 
Basic earnings per share$2.66 $2.42 $5.80 $5.53 
Diluted earnings per share
Net income attributable to Accenture plc$1,674,859 $1,523,648 $3,648,303 $3,488,598 
Net income attributable to noncontrolling interests in Accenture Canada Holdings Inc. (1)1,675 1,604 3,691 3,689 
Net income for diluted earnings per share calculation$1,676,534 $1,525,252 $3,651,994 $3,492,287 
Basic weighted average Class A ordinary shares629,016,555 630,845,147 628,488,831 630,485,134 
Class A ordinary shares issuable upon redemption/exchange of noncontrolling interests (1)629,053 664,218 635,356 666,479 
Diluted effect of employee compensation related to Class A ordinary shares6,804,596 5,865,118 7,665,966 6,861,930 
Diluted effect of share purchase plans related to Class A ordinary shares347,610 360,907 279,203 337,236 
Diluted weighted average Class A ordinary shares636,797,814 637,735,390 637,069,356 638,350,779 
Diluted earnings per share$2.63 $2.39 $5.73 $5.47 
(1)Diluted earnings per share assumes the exchange of all Accenture Canada Holdings Inc. exchangeable shares for Accenture plc Class A ordinary shares on a one-for-one basis. The income effect does not take into account “Net income attributable to noncontrolling interests - other,” since those shares are not redeemable or exchangeable for Accenture plc Class A ordinary shares.

Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
15

4. Accumulated Other Comprehensive Loss
The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss attributable to Accenture plc:
Three Months EndedSix Months Ended
February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Foreign currency translation
    Beginning balance$(1,442,440)$(1,768,152)$(1,510,632)$(1,852,320)
             Foreign currency translation(93,076)117,726 (25,287)204,710 
             Income tax benefit (expense) (1,014)(2,631)1,226 (2,631)
             Portion attributable to noncontrolling interests2,317 (2,470)480 (5,286)
             Foreign currency translation, net of tax(91,773)112,625 (23,581)196,793 
    Ending balance(1,534,213)(1,655,527)(1,534,213)(1,655,527)
Defined benefit plans
    Beginning balance(190,111)(257,091)(226,503)(348,771)
             Reclassifications into net periodic pension and
             post-retirement expense		6,514 8,719 50,808 134,890 
             Income tax benefit (expense)(1,272)(2,174)(9,137)(36,568)
             Portion attributable to noncontrolling interests(4)(6)(41)(103)
             Defined benefit plans, net of tax5,238 6,539 41,630 98,219 
    Ending balance(184,873)(250,552)(184,873)(250,552)
Cash flow hedges
    Beginning balance5,336 (30,429)(5,966)10,749 
             Unrealized gain (loss) 73,761 (32,837)97,375 (92,716)
             Reclassification adjustments into Cost of services(4,846)18,000 (15,446)20,606 
             Income tax benefit (expense) (12,249)7,068 (13,950)23,119 
             Portion attributable to noncontrolling interests(56)7 (67)51 
             Cash flow hedges, net of tax56,610 (7,762)67,912 (48,940)
    Ending balance (1)61,946 (38,191)61,946 (38,191)
Accumulated other comprehensive loss$(1,657,140)$(1,944,270)$(1,657,140)$(1,944,270)
(1)As of February 29, 2024, $54,434 of net unrealized gains related to derivatives designated as cash flow hedges is expected to be reclassified into Cost of services in the next twelve months.

Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
16

5. Business Combinations
During the six months ended February 29, 2024, we completed individually immaterial acquisitions for total consideration of $2,900,194, net of cash acquired. The pro forma effects of these acquisitions on our operations were not material.
6. Goodwill and Intangible Assets
Goodwill
The changes in the carrying amount of goodwill by reportable operating segment are as follows:
August 31,
2023		Additions/
Adjustments		Foreign
Currency
Translation		February 29, 2024
North America$8,876,050 $1,650,701 $1,885 $10,528,636 
EMEA (1)5,152,149 634,695 (27,923)5,758,921 
Growth Markets (1)1,544,804 127,179 (12,234)1,659,749 
Total$15,573,003 $2,412,575 $(38,272)$17,947,306 
(1)Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts have been reclassified to conform with the current period presentation.
Goodwill includes immaterial adjustments related to prior period acquisitions.
Intangible Assets
Our definite-lived intangible assets by major asset class are as follows:
August 31, 2023February 29, 2024
Intangible Asset ClassGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Customer-related$2,842,257 $(999,604)$1,842,653 $3,272,419 $(1,136,317)$2,136,102 
Technology289,989 (141,022)148,967 327,808 (160,826)166,982 
Patents123,579 (70,472)53,107 122,112 (70,797)51,315 
Other65,138 (36,908)28,230 131,673 (33,513)98,160 
Total$3,320,963 $(1,248,006)$2,072,957 $3,854,012 $(1,401,453)$2,452,559 
Total amortization related to our intangible assets was $119,625 and $231,256 for the three and six months ended February 29, 2024, respectively. Total amortization related to our intangible assets was $120,212 and $229,281 for the three and six months ended February 28, 2023, respectively. Estimated future amortization related to intangible assets held as of February 29, 2024 is as follows:
Fiscal YearEstimated Amortization
Remainder of 2024$252,239 
2025477,355 
2026427,761 
2027357,839 
2028330,181 
Thereafter607,184 
Total$2,452,559 


Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
17

7. Shareholders’ Equity
Dividends
Our dividend activity during the six months ended February 29, 2024 is as follows:
 Dividend Per
Share		Accenture plc Class A
Ordinary Shares		Accenture Canada Holdings
Inc. Exchangeable Shares		Total Cash
Outlay
Dividend Payment DateRecord DateCash OutlayRecord DateCash Outlay
November 15, 2023$1.29 October 12, 2023$809,225 October 10, 2023$831 $810,056 
February 15, 20241.29 January 18, 2024811,766 January 16, 2024812 812,578 
Total Dividends$1,620,991 $1,643 $1,622,634 
The payment of cash dividends includes the net effect of $67,126 of additional restricted stock units being issued as a part of our share plans, which resulted in 191,319 restricted share units being issued.
Subsequent Event
On March 20, 2024, the Board of Directors of Accenture plc declared a quarterly cash dividend of $1.29 per share on our Class A ordinary shares for shareholders of record at the close of business on April 11, 2024 payable on May 15, 2024.


Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
18

8. Financial Instruments
Derivatives
In the normal course of business, we use derivative financial instruments to manage foreign currency exchange rate risk. Our derivative financial instruments consist of deliverable and non-deliverable foreign currency forward contracts.
Cash Flow Hedges
For a cash flow hedge, the effective portion of the change in estimated fair value of a hedging instrument is recorded in Accumulated other comprehensive loss as a separate component of Shareholders’ Equity and is reclassified into Cost of services in the Consolidated Income Statements during the period in which the hedged transaction is recognized. For information related to derivatives designated as cash flow hedges that were reclassified into Cost of services during the three and six months ended February 29, 2024 and February 28, 2023, as well as those expected to be reclassified into Cost of services in the next twelve months, see Note 4 (Accumulated Other Comprehensive Loss) to these Consolidated Financial Statements.
Other Derivatives
Realized gains or losses and changes in the estimated fair value of foreign currency forward contracts that have not been designated as hedges were net losses of $26,056 and $46,336 for the three and six months ended February 29, 2024, respectively, and net gains of $7,431 and net losses of $22,260 for the three and six months ended February 28, 2023, respectively. Gains and losses on these contracts are recorded in Other income (expense), net in the Consolidated Income Statements and are offset by gains and losses on the related hedged items.
Fair Value of Derivative Instruments
The notional and fair values of all derivative instruments are as follows:
February 29, 2024August 31, 2023
Assets
Cash Flow Hedges
Other current assets$71,862 $52,995 
Other non-current assets56,820 44,739 
Other Derivatives
Other current assets9,865 6,686 
Total assets$138,547 $104,420 
Liabilities
Cash Flow Hedges
Other accrued liabilities$17,428 $50,020 
Other non-current liabilities6,834 26,076 
Other Derivatives
Other accrued liabilities14,510 38,645 
Total liabilities$38,772 $114,741 
Total fair value$99,775 $(10,321)
Total notional value$13,860,671 $13,390,031 
We utilize standard counterparty master agreements containing provisions for the netting of certain foreign currency transaction obligations and for the set-off of certain obligations in the event of an insolvency of one of the parties to the transaction. In the Consolidated Balance Sheets, we record derivative assets and liabilities at gross fair value. The potential effect of netting derivative assets against liabilities under the counterparty master agreements is as follows:
February 29, 2024August 31, 2023
Net derivative assets$109,330 $50,528 
Net derivative liabilities9,555 60,849 
Total fair value$99,775 $(10,321)


Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
19

9. Income Taxes
We apply an estimated annual effective tax rate to our year-to-date operating results to determine the interim provision for income tax expense. In addition, we recognize taxes related to unusual or infrequent items or resulting from a change in judgment regarding a position taken in a prior year as discrete items in the interim period in which the event occurs.
Our effective tax rates for the three months ended February 29, 2024 and February 28, 2023 were 18.4% and 20.4%, respectively. The lower effective tax rate for the three months ended February 29, 2024 was primarily due to higher tax benefits from share-based payments. Our effective tax rates for the six months ended February 29, 2024 and February 28, 2023 were 21.1% and 22.0%, respectively.
10. Commitments and Contingencies
Indemnifications and Guarantees
In the normal course of business and in conjunction with certain client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients with respect to certain matters.
As of February 29, 2024 and August 31, 2023, our aggregate potential liability to our clients for expressly limited guarantees involving the performance of third parties was approximately $2,008,000 and $1,793,000, respectively, of which all but approximately $60,000 and $51,000, respectively, may be recovered from the other third parties if we are obligated to make payments to the indemnified parties as a consequence of a performance default by the other third parties. For arrangements with unspecified limitations, we cannot reasonably estimate the aggregate maximum potential liability, as it is inherently difficult to predict the maximum potential amount of such payments, due to the conditional nature and unique facts of each particular arrangement.
As of February 29, 2024 and August 31, 2023, we have issued or provided guarantees in the form of letters of credit and surety bonds of $1,291,091 and $1,294,653, respectively, the majority of which support certain contracts that require us to provide them as a guarantee of our performance. These guarantees are typically renewed annually and remain in place until the contractual obligations are satisfied. In general, we would only be liable for these guarantees in the event we defaulted in performing our obligations under each contract, the probability of which we believe is remote.
To date, we have not been required to make any significant payment under any of the arrangements described above. We have assessed the current status of performance/payment risk related to arrangements with limited guarantees, warranty obligations, unspecified limitations, indemnification provisions, letters of credit and surety bonds, and believe that any potential payments would be immaterial to the Consolidated Financial Statements, as a whole.
Legal Contingencies
As of February 29, 2024, we or our present personnel had been named as a defendant in various litigation matters. We and/or our personnel also from time to time are involved in investigations by various regulatory or legal authorities concerning matters arising in the course of our business around the world. Based on the present status of these matters, except as otherwise noted below, management believes the range of reasonably possible losses in addition to amounts accrued, net of insurance recoveries, will not have a material effect on our results of operations or financial condition.
On July 24, 2019, Accenture was named in a putative class action lawsuit filed by consumers of Marriott International, Inc. (“Marriott”) in the U.S. District Court for the District of Maryland. The complaint alleges negligence by us, and seeks monetary damages, costs and attorneys’ fees and other related relief, relating to a data security incident involving unauthorized access to the reservations database of Starwood Worldwide Resorts, Inc. (“Starwood”), which was acquired by Marriott on September 23, 2016. Since 2009, we have provided certain IT infrastructure outsourcing services to Starwood. On May 3, 2022, the court issued an order granting in part the plaintiffs’ motion for class certification, which we appealed. On August 17, 2023, the appeals court vacated the class certification and remanded the case to the district court for consideration of, among other things, the class action waiver signed by Starwood customer plaintiffs. On November 29, 2023, the district court reinstated the classes previously certified by the court in May 2022. We are appealing the district court's decision. We continue to believe the lawsuit is without merit and we will vigorously defend it. At present, we do not believe any losses from this matter will have a material effect on our results of operations or financial condition.

Notes To Consolidated Financial Statements
(In thousands of U.S. dollars, except share and per share amounts or as otherwise disclosed)
ACCENTURE FORM 10-Q
20

After Accenture Federal Services (“AFS”) made a voluntary disclosure to the U.S. government, the U.S. Department of Justice     (“DOJ”) initiated a civil and criminal investigation concerning whether one or more employees provided inaccurate submissions to an assessor who was evaluating on behalf of the U.S. government an AFS service offering and whether the service offering fully implemented required federal security controls. AFS is responding to an administrative subpoena and cooperating with DOJ’s investigation. This matter could subject us to adverse consequences as described under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended August 31, 2023 – “Our work with government clients exposes us to additional risks inherent in the government contracting environment”. We cannot at this time determine when or how this matter will be resolved or estimate the cost or range of costs that are reasonably likely to be incurred in connection with this matter.
11. Segment Reporting
Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts below have been reclassified to conform with the current period presentation.
Our reportable segments are our three geographic markets, which are North America, EMEA and Growth Markets.
Information regarding reportable segments, industry groups and type of work is as follows:
Revenues
 Three Months EndedSix Months Ended
 February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Geographic Markets
North America$7,376,812 $7,397,874 $14,939,714 $15,020,694 
EMEA5,598,850 5,554,682 11,402,492 10,867,581 
Growth Markets2,823,852 2,861,602 5,681,611 5,673,685 
Total Revenues$15,799,514 $15,814,158 $32,023,817 $31,561,960 
Industry Groups
Communications, Media & Technology$2,654,137 $2,884,802 $5,323,585 $5,865,005 
Financial Services2,808,930 3,002,867 5,842,508 5,966,263 
Health & Public Service3,334,039 3,023,595 6,711,505 6,023,614 
Products4,761,838 4,718,572 9,621,825 9,384,360 
Resources2,240,570 2,184,322 4,524,394 4,322,718 
Total Revenues$15,799,514 $15,814,158 $32,023,817 $31,561,960 
Type of Work
Consulting$8,021,034 $8,278,763 $16,477,540 $16,723,130 
Managed Services7,778,480 7,535,395 15,546,277 14,838,830 
Total Revenues$15,799,514 $15,814,158 $32,023,817 $31,561,960 
Operating Income
 Three Months EndedSix Months Ended
 February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Geographic Markets
North America$1,060,376 $823,858 $2,317,084 $2,133,741 
EMEA529,012 615,403 1,352,613 1,342,286 
Growth Markets457,039 505,320 941,617 1,061,654 
Total Operating Income$2,046,427 $1,944,581 $4,611,314 $4,537,681 


ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
21
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
The following discussion and analysis should be read in conjunction with our Consolidated Financial Statements and related Notes included elsewhere in this Quarterly Report on Form 10-Q and in our Annual Report on Form 10-K for the year ended August 31, 2023, and with the information under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our Annual Report on Form 10-K for the year ended August 31, 2023.
We use the terms “Accenture,” “we,” “our” and “us” in this report to refer to Accenture plc and its subsidiaries. All references to years, unless otherwise noted, refer to our fiscal year, which ends on August 31. For example, a reference to “fiscal 2024” means the 12-month period that will end on August 31, 2024. All references to quarters, unless otherwise noted, refer to the quarters of our fiscal year.
We use the term “in local currency” so that certain financial results may be viewed without the impact of foreign currency exchange rate fluctuations, thereby facilitating period-to-period comparisons of business performance. Financial results “in local currency” are calculated by restating current period activity into U.S. dollars using the comparable prior year period’s foreign currency exchange rates. This approach is used for all results where the functional currency is not the U.S. dollar.
Disclosure Regarding Forward-Looking Statements
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 (the “Exchange Act”) relating to our operations, results of operations and other matters that are based on our current expectations, estimates, assumptions and projections. Words such as “may,” “will,” “should,” “likely,” “anticipates,” “aspires,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates,” “positioned,” “outlook,” “goal,” “target,” and similar expressions are used to identify these forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Forward-looking statements are based upon assumptions as to future events that may not prove to be accurate. Actual outcomes and results may differ materially from what is expressed or forecast in these forward-looking statements. Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not limited to those identified below.
Business Risks
•Our results of operations have been, and may in the future be, adversely affected by volatile, negative or uncertain economic and political conditions and the effects of these conditions on our clients’ businesses and levels of business activity.
•Our business depends on generating and maintaining client demand for our services and solutions, including through the adaptation and expansion of our services and solutions in response to ongoing changes in technology and offerings, and a significant reduction in such demand or an inability to respond to the evolving technological environment could materially affect our results of operations.
•If we are unable to match people and their skills with client demand around the world and attract and retain professionals with strong leadership skills, our business, the utilization rate of our professionals and our results of operations may be materially adversely affected.
•We face legal, reputational and financial risks from any failure to protect client and/or Accenture data from security incidents or cyberattacks.
•The markets in which we operate are highly competitive, and we might not be able to compete effectively.
•Our ability to attract and retain business and employees may depend on our reputation in the marketplace.
•If we do not successfully manage and develop our relationships with key ecosystem partners or if we fail to anticipate and establish new alliances in new technologies, our results of operations could be adversely affected.

ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
22
Financial Risks
•Our profitability could materially suffer if we are unable to obtain favorable pricing for our services and solutions, if we are unable to remain competitive, if our cost-management strategies are unsuccessful or if we experience delivery inefficiencies or fail to satisfy certain agreed-upon targets or specific service levels.
•Changes in our level of taxes, as well as audits, investigations and tax proceedings, or changes in tax laws or in their interpretation or enforcement, could have a material adverse effect on our effective tax rate, results of operations, cash flows and financial condition.
•Our results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates.
•Changes to accounting standards or in the estimates and assumptions we make in connection with the preparation of our consolidated financial statements could adversely affect our financial results.
Operational Risks
•As a result of our geographically diverse operations and strategy to continue to grow in key markets around the world, we are more susceptible to certain risks.
•If we are unable to manage the organizational challenges associated with our size, we might be unable to achieve our business objectives.
•We might not be successful at acquiring, investing in or integrating businesses, entering into joint ventures or divesting businesses.
Legal and Regulatory Risks
•Our business could be materially adversely affected if we incur legal liability.
•Our global operations expose us to numerous and sometimes conflicting legal and regulatory requirements, and violation of these regulations could harm our business.
•Our work with government clients exposes us to additional risks inherent in the government contracting environment.
•If we are unable to protect or enforce our intellectual property rights, or if our services or solutions infringe upon the intellectual property rights of others or we lose our ability to utilize the intellectual property of others, our business could be adversely affected.
•We are incorporated in Ireland and Irish law differs from the laws in effect in the United States and might afford less protection to our shareholders. We may also be subject to criticism and negative publicity related to our incorporation in Ireland.
For a more detailed discussion of these factors, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended August 31, 2023. Our forward-looking statements speak only as of the date of this report or as of the date they are made, and we undertake no obligation to update any forward-looking statements.

ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
23
Overview
Accenture is a leading global professional services company, providing a broad range of services and solutions across Strategy & Consulting, Technology, Operations, Industry X and Song. We serve clients in three geographic markets: North America, EMEA (Europe, Middle East and Africa) and Growth Markets (Asia Pacific and Latin America). We combine our strength in technology and leadership in cloud, data and AI with unmatched industry experience, functional expertise and global delivery capability to help the world’s leading businesses, governments and other organizations build their digital core, optimize their operations, accelerate revenue growth and enhance citizen services—creating tangible value at speed and scale.
Our results of operations are affected by economic conditions, including macroeconomic conditions, the overall inflationary environment and levels of business confidence. There continues to be significant economic and geopolitical uncertainty in many markets around the world, which has impacted and may continue to impact our business. These conditions have slowed the pace and level of client spending, particularly for smaller contracts with a shorter duration and for our consulting services.
Key Metrics
Key metrics for the second quarter of fiscal 2024 compared to the second quarter of fiscal 2023 are included below. We have presented operating income, operating margin, effective tax rate and diluted earnings per share on a non-GAAP or “adjusted” basis to exclude the impact of $115 million and $244 million, respectively, in business optimization costs as discussed further in our Results of Operations. For additional information, see Note 1 (Basis of Presentation) to our Consolidated Financial Statements under Item 1, “Financial Statements.”
•Revenues of $15.8 billion, flat with the second quarter of fiscal 2023 in both U.S. dollars and local currency;
•New bookings of $21.6 billion, a decrease of 2% in both U.S. dollars and local currency;
•Operating margin of 13.0%, compared to 12.3% in the second quarter of fiscal 2023; adjusted operating margin was 13.7% compared to 13.8% in the second quarter of fiscal 2023;
•Diluted earnings per share of $2.63, a 10% increase over $2.39 in the second quarter of fiscal 2023; adjusted earnings per share increased 3% to $2.77 compared to $2.69 in the second quarter of fiscal 2023; and
•Cash returned to shareholders of $2.1 billion, including share purchases of $1.3 billion and dividends of $813 million.
Revenues
Three Months EndedPercent
Increase
(Decrease)
U.S.
Dollars		Percent
Increase
(Decrease)
Local
Currency		Percent of Revenues
for the Three Months Ended
(in billions of U.S. dollars)February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Geographic Markets (1)North America$7.4 $7.4 — %— %47 %47 %
EMEA5.6 5.6 1 (2)35 35 
Growth Markets2.8 2.9 (1)6 18 18 
Total Revenues$15.8 $15.8 — %— %100 %100 %
Industry GroupsCommunications, Media & Technology$2.7 $2.9 (8)%(7)%17 %18 %
Financial Services2.8 3.0 (6)(6)18 19 
Health & Public Service3.3 3.0 10 10 21 19 
Products4.8 4.7 1 — 30 30 
Resources2.2 2.2 3 4 14 14 
Total Revenues$15.8 $15.8 — %— %100 %100 %
Type of WorkConsulting$8.0 $8.3 (3)%(3)%51 %52 %
Managed Services7.8 7.5 3 3 49 48 
Total Revenues$15.8 $15.8 — %— %100 %100 %
Amounts in table may not total due to rounding.
(1)Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts have been reclassified to conform with the current period presentation.



ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
24
Revenues for the second quarter of fiscal 2024 were flat in both U.S. dollars and local currency compared to the second quarter of fiscal 2023. During the second quarter of fiscal 2024, revenue growth in local currency was strong in Growth Markets, while North America was flat and EMEA had a modest decline. We experienced local currency revenue growth that was very strong in Health & Public Service, solid in Resources and flat in Products, offset by declines in Communications, Media & Technology and Financial Services. Revenue growth in local currency was modest in managed services, offset by a modest decline in consulting. The business environment is competitive, and we have been experiencing lower pricing across the business. We define pricing as contract profitability or margin on the work that we sell.
In our consulting business, revenues for the second quarter of fiscal 2024 decreased 3% in both U.S. dollars and local currency compared to the second quarter of fiscal 2023. The decline in consulting revenue in local currency for the second quarter of fiscal 2024 was driven by a decline in EMEA and a modest decline in North America, partially offset by modest growth in Growth Markets. Our consulting revenue continues to be driven by helping our clients accelerate their digital transformation, including moving to the cloud, embedding security across the enterprise and adopting new technologies. In addition, clients continue to be focused on initiatives designed to deliver cost savings and operational efficiency, as well as projects to accelerate growth and improve customer experiences. While we continue to experience demand for these services, we are seeing a slower pace and level of client spending, especially for smaller contracts with a shorter duration.
In our managed services business, revenues for the second quarter of fiscal 2024 increased 3% in both U.S. dollars and local currency compared to the second quarter of fiscal 2023. Managed services revenue growth in local currency for the second quarter of fiscal 2024 was driven by very strong growth in Growth Markets, solid growth in EMEA and slight growth in North America. We continue to experience growing demand to assist clients with application modernization and maintenance, cloud enablement and cybersecurity-as-a-service. In addition, clients continue to be focused on transforming their operations through technology, data and AI, and leveraging our digital platforms and talent to drive productivity and operational cost savings.
As we are a global company, our revenues are denominated in multiple currencies and may be significantly affected by currency exchange rate fluctuations. While a significant portion of our revenues are in U.S. dollars, the majority of our revenues are denominated in other currencies, including the Euro, Japanese yen and U.K. pound. There continues to be volatility in foreign currency exchange rates. Unfavorable fluctuations in foreign currency exchange rates have had and could in the future have a material effect on our financial results. If the U.S. dollar weakens against other currencies, resulting in favorable currency translation, our revenues, revenue growth and results of operations in U.S. dollars may be higher. If the U.S. dollar strengthens against other currencies, resulting in unfavorable currency translation, our revenues, revenue growth and results of operations in U.S. dollars may be lower. The U.S. dollar strengthened against various currencies during the second quarter of fiscal 2024 compared to the second quarter of fiscal 2023, resulting in unfavorable currency translation and U.S. dollar revenue growth that was approximately 0.5% lower than our revenue growth in local currency. The U.S. dollar weakened against various currencies during the six months ended February 29, 2024 compared to the six months ended February 28, 2023, resulting in favorable currency translation and U.S. dollar revenue growth that was approximately 0.5% higher than our revenue growth in local currency. Assuming that exchange rates stay within recent ranges for the remainder of fiscal 2024, we estimate that our full fiscal 2024 revenue growth in U.S. dollars will be approximately equal to our revenue growth in local currency.
People Metrics
Utilization
Workforce
Annualized Voluntary Attrition
92%
742,000+
13%
compared to 91% in the second quarter of fiscal 2023
compared to approximately 738,000 as of February 28, 2023
compared to 12% in the second quarter of fiscal 2023
Utilization for the second quarter of fiscal 2024 was 92%, compared to 91% in the second quarter of fiscal 2023. We hire to meet current and projected future demand. We proactively plan and manage the size and composition of our workforce and take actions as needed to address changes in the anticipated demand for our services and solutions, given that compensation costs are the most significant portion of our operating expenses. Our workforce, the majority of which serves our clients, increased to approximately 742,000 as of February 29, 2024, compared to approximately 738,000 as of February 28, 2023. The year-over-year increase in our workforce reflects people added in connection with acquisitions and hiring for specific skills.
For the second quarter of fiscal 2024, annualized attrition, excluding involuntary terminations, was 13%, up from 12% in the second quarter of fiscal 2023. We evaluate voluntary attrition, adjust levels of new hiring and use involuntary terminations as a means to keep our supply of skills and resources in balance with changes in client demand.


ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
25
In addition, we adjust compensation to provide market relevant pay based on the skills of our people and locations where we operate. We also consider a variety of factors, including the macroeconomic environment, in making our decisions around pay and benefits. We strive to adjust pricing as well as drive cost and delivery efficiencies, such as changing the mix of people and utilizing technology, to reduce the impact of compensation increases on our margin and contract profitability.
Our ability to grow our revenues and maintain or increase our margin could be adversely affected if we are unable to: match people and skills with the types or amounts of services and solutions clients are demanding; recover or offset increases in compensation; deploy our employees globally on a timely basis; manage attrition; and/or effectively assimilate new employees.
New Bookings
Three Months EndedPercent
Increase
(Decrease)
U.S.
Dollars		Percent
 Increase
(Decrease)
Local
 Currency		Six Months EndedPercent
Increase
(Decrease)
U.S.
Dollars		Percent
 Increase
(Decrease)
Local
 Currency
(in billions of U.S. dollars)February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Consulting$10.5 $10.7 (1)%(1)%$19.1 $18.8 2 %1 %
Managed Services11.1 11.4 (3)(3)20.9 19.5 7 6 
Total New Bookings$21.6 $22.1 (2)%(2)%$40.0 $38.3 4 %4 %
We provide information regarding our new bookings, which include new contracts, including those acquired through acquisitions, as well as renewals, extensions and changes to existing contracts, because we believe doing so provides useful trend information regarding changes in the volume of our new business over time. New bookings can vary significantly quarter to quarter depending in part on the timing of the signing of a small number of large managed services contracts. The types of services and solutions clients are demanding and the pace and level of their spending may impact the conversion of new bookings to revenues. For example, managed services bookings, which are typically for multi-year contracts, generally convert to revenue over a longer period of time compared to consulting bookings.
Information regarding our new bookings is not comparable to, nor should it be substituted for, an analysis of our revenues over time. New bookings involve estimates and judgments. There are no third-party standards or requirements governing the calculation of bookings. We do not update our new bookings for material subsequent terminations or reductions related to bookings originally recorded in prior fiscal years. New bookings are recorded using then-existing foreign currency exchange rates and are not subsequently adjusted for foreign currency exchange rate fluctuations.
The majority of our contracts are terminable by the client on short notice with little or no termination penalties, and some without notice. Only the non-cancelable portion of these contracts is included in our remaining performance obligations disclosed in Note 2 (Revenues) to our Consolidated Financial Statements under Item 1, “Financial Statements.” Accordingly, a significant portion of what we consider contract bookings is not included in our remaining performance obligations.

ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
26
Results of Operations for the Three and Six Months Ended February 29, 2024 Compared to the Three and Six Months Ended February 28, 2023
Revenues
Revenues by geographic market, industry group and type of work are as follows:
  Three Months EndedPercent
Increase
(Decrease)
U.S.
Dollars		Percent
Increase
(Decrease)
Local
Currency		Six Months EndedPercent
Increase
(Decrease)
U.S.
Dollars		Percent
Increase
(Decrease)
Local
Currency
(in millions of U.S. dollars)February 29, 2024February 28, 2023February 29, 2024February 28, 2023
Geographic Markets (1)
North America$7,377 $7,398 — %— %$14,940 $15,021 (1)%(1)%
EMEA5,599 5,555 1 (2)11,402 10,868 5 — 
Growth Markets2,824 2,862 (1)6 5,682 5,674 — 5 
Total$15,800 $15,814 — %— %$32,024 $31,562 1 %1 %
Industry Groups
Communications, Media & Technology$2,654 $2,885 (8)%(7)%$5,324 $5,865 (9)%(9)%
Financial Services2,809 3,003 (6)(6)5,843 5,966 (2)(3)
Health & Public Service3,334 3,024 10 10 6,712 6,024 11 11 
Products4,762 4,719 1 — 9,622 9,384 3 1 
Resources2,241 2,184 3 4 4,524 4,323 5 5 
Total$15,800 $15,814 — %— %$32,024 $31,562 1 %1 %
Type of Work
Consulting$8,021 $8,279 (3)%(3)%$16,478 $16,723 (1)%(2)%
Managed Services7,778 7,535 3 3 15,546 14,839 5 4 
Total$15,800 $15,814 — %— %$32,024 $31,562 1 %1 %
Amounts in table may not total due to rounding.
(1)Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts have been reclassified to conform with the current period presentation.
Geographic Markets
The following revenues commentary discusses local currency revenue changes by geographic market for the three and six months ended February 29, 2024 compared to the three and six months ended February 28, 2023:
North America
•Three Months. Revenues were flat in local currency, as growth in Public Service was offset by declines in Banking & Capital Markets, Software & Platforms and Communications & Media.
•Six Months. Revenues decreased 1% in local currency, due to declines in Software & Platforms, Banking & Capital Markets and Communications & Media. These decreases were partially offset by growth in Public Service. The decline in revenues was driven by the United States.
EMEA
•Three Months. Revenues decreased 2% in local currency, due to declines in Communications & Media and Banking & Capital Markets. These decreases were partially offset by growth in Public Service. The decline in revenues was driven by the United Kingdom, France and Ireland, partially offset by revenue growth in Italy.
•Six Months. Revenues were flat in local currency, as growth in Public Service was offset by declines in Communications & Media and Consumer Goods, Retail & Travel Services. Revenues were driven by increases in Italy and Austria, offset by declines in the United Kingdom and Ireland.




ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
27
Growth Markets
•Three Months. Revenues increased 6% in local currency, led by growth in Banking & Capital Markets, Industrial, Public Service and Chemicals & Natural Resources. Revenue growth was driven by Japan and Argentina, partially offset by declines in Australia and Brazil. Argentina revenues grew in local currency due to hyperinflation, but declined slightly in U.S. dollars.
•Six Months. Revenues increased 5% in local currency, led by growth in Chemicals & Natural Resources, Banking & Capital Markets, Public Service and Industrial. Revenue growth was driven by Japan and Argentina, partially offset by declines in Brazil and Australia. Argentina revenues grew in local currency due to hyperinflation, but declined slightly in U.S. dollars.
Operating Expenses
Operating expenses for the second quarter of fiscal 2024 decreased $116 million, or 1%, compared to the second quarter of fiscal 2023, and decreased as a percentage of revenues to 87.0% from 87.7% during this period. Operating expenses for the six months ended February 29, 2024 increased $388 million, or 1%, compared to the six months ended February 28, 2023, and remained flat as a percentage of revenues at 85.6% during this period.
The primary categories of operating expenses include Cost of services, Sales and marketing and General and administrative costs. Cost of services is primarily driven by the cost of people serving our clients, which consists mainly of compensation, subcontractor and other payroll costs, and non-payroll costs such as facilities, technology and travel. Cost of services includes a variety of activities such as: contract delivery; recruiting and training; software development; and integration of acquisitions. Sales and marketing costs are driven primarily by compensation costs for business development activities; marketing- and advertising-related activities; and certain acquisition-related costs. General and administrative costs primarily include costs for people that are non-client-facing, information systems, office space and certain acquisition-related costs.
Operating expenses by category are as follows:
Three Months EndedSix Months Ended
(in millions of U.S. dollars)February 29, 2024February 28, 2023Increase
(Decrease)		February 29, 2024February 28, 2023Increase
(Decrease)
Operating Expenses$13,753 87.0 %$13,870 87.7 %$(116)$27,413 85.6 %$27,024 85.6 %$388 
Cost of services10,921 69.1 10,979 69.4 (58)21,697 67.8 21,541 68.3 156 
Sales and marketing1,631 10.3 1,564 9.9 68 3,341 10.4 3,114 9.9 227 
General and administrative costs1,085 6.9 1,082 6.8 3 2,119 6.6 2,125 6.7 (6)
Business optimization costs115 0.7 244 1.5 (129)255 0.8 244 0.8 11 
Amounts in table may not total due to rounding.
Cost of Services
Cost of services for the second quarter of fiscal 2024 decreased $58 million, or 1%, from the second quarter of fiscal 2023, and decreased as a percentage of revenues to 69.1% from 69.4% during this period. Gross margin for the second quarter of fiscal 2024 increased as a percentage of revenues to 30.9% compared to 30.6% during the second quarter of fiscal 2023. The increase in gross margin was primarily due to lower labor costs compared to the same period in fiscal 2023.
Cost of services for the six months ended February 29, 2024 increased $156 million, or 1%, over the six months ended February 28, 2023, and decreased as a percentage of revenues to 67.8% from 68.3% during this period. Gross margin for the six months ended February 29, 2024 increased to 32.2% compared to 31.7% during the six months ended February 28, 2023. The increase in gross margin was primarily due to lower labor costs, including lower subcontractor costs compared to the same period in fiscal 2023.
Sales and Marketing
Sales and marketing expense for the second quarter of fiscal 2024 increased $68 million, or 4%, over the second quarter of fiscal 2023, and increased as a percentage of revenues to 10.3% compared to 9.9% during this period. Sales and marketing expense for the six months ended February 29, 2024 increased $227 million, or 7%, over the six months ended February 28, 2023, and increased as a percentage of revenues to 10.4% compared to 9.9% during this period. The increase as a percentage of revenues for the three and six months ended February 29, 2024 was due to higher selling and other business development costs as a percentage of revenues compared to the same period in fiscal 2023.
General and Administrative Costs
General and administrative costs for the second quarter of fiscal 2024 increased $3 million over the second quarter of fiscal 2023, and increased as a percentage of revenues to 6.9% compared to 6.8% during this period. General and administrative costs for the six months ended February 29, 2024 decreased $6 million from the six months ended February 28, 2023, and decreased as a percentage of revenues to 6.6% from 6.7% during this period.

ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
28
Business Optimization Costs
During the second quarter of fiscal 2024 and 2023, we recorded business optimization costs of $115 million and $244 million, respectively, primarily for employee severance. During the six months ended February 29, 2024, and February 28, 2023, we recorded business optimization costs of $255 million and $244 million, respectively, primarily for employee severance. For additional information, see Note 1 (Basis of Presentation) to our Consolidated Financial Statements under Item 1, “Financial Statements.”
Non-GAAP Financial Measures
We have presented operating income, operating margin, effective tax rate and diluted earnings per share on a non-GAAP or "adjusted" basis excluding the business optimization costs recorded in fiscal 2024 and fiscal 2023, as we believe doing so facilitates understanding as to the impact of these items and our performance in comparison to the prior periods. While we believe that this non-GAAP financial information is useful in evaluating our operations, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.
Operating Income and Operating Margin
Operating income and operating margin for each of the geographic markets are as follows:
Three Months EndedSix Months Ended
  February 29, 2024February 28, 2023February 29, 2024February 28, 2023
(in millions of U.S. dollars)Operating
Income		Operating
Margin		Operating
Income		Operating
Margin		Increase
(Decrease)		Operating
Income		Operating
Margin		Operating
Income		Operating
Margin		Increase
(Decrease)
North America$1,060 14 %$824 11 %$237 $2,317 16 %$2,134 14 %$183 
EMEA (1)529 9 615 11 (86)1,353 12 1,342 12 10 
Growth Markets (1)457 16 505 18 (48)942 17 1,062 19 (120)
Total$2,046 13.0 %$1,945 12.3 %$102 $4,611 14.4 %$4,538 14.4 %$74 
Amounts in table may not total due to rounding.
(1)Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts have been reclassified to conform with the current period presentation.
Operating income for the second quarter of fiscal 2024 increased $102 million, or 5%, compared with the second quarter of fiscal 2023. Operating margin for the second quarter of fiscal 2024 was 13.0%, compared with 12.3% for the second quarter of fiscal 2023. Operating income for the six months ended February 29, 2024 increased $74 million, or 2%, compared with the six months ended February 28, 2023. Operating margin for the six months ended February 29, 2024 was 14.4%, flat with the six months ended February 28, 2023.
Geographic Markets
We estimate that the aggregate percentage impact of foreign currency exchange rates on our operating income during the three and six months ended February 29, 2024 was similar to that disclosed for revenue for each geographic market. The commentary below provides insight into other factors affecting geographic market performance and operating income, including the impact of foreign currency exchange rates where significant, for the three and six months ended February 29, 2024 compared with the three and six months ended February 28, 2023:
North America
•Three Months. Operating income increased primarily due to lower business optimization costs and lower labor costs, partially offset by a decline in consulting contract profitability.
•Six Months. Operating income increased primarily due to lower business optimization costs and lower labor costs, partially offset by a decline in consulting contract profitability.
EMEA
•Three Months. Operating income decreased primarily due to higher business optimization costs as well as a decline in consulting revenues and consulting contract profitability.
•Six Months. Operating income increased primarily due to the positive impact of foreign currency exchange rates which resulted in an increase in U.S. dollar revenues, partially offset by higher business optimization costs.
Growth Markets
•Three Months. Operating income decreased as revenue growth in local currency was more than offset by lower contract profitability and the negative impact of foreign currency exchange rates which resulted in a decline in U.S. dollar revenues.    

ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
29
•Six Months. Operating income decreased as revenue growth in local currency was more than offset by lower contract profitability, higher business optimization costs and the negative impact of foreign currency exchange rates which resulted in a decline in U.S. dollar revenues.
Operating Income and Operating Margin Excluding Business Optimization Costs (Non-GAAP)
The business optimization costs reduced operating margin for the second quarter of fiscal 2024 and 2023 by 70 and 150 basis points, respectively. Adjusted operating margin for the second quarter of fiscal 2024 decreased 10 basis points to 13.7% compared with the second quarter of fiscal 2023. The business optimization costs reduced operating margin for both the six months ended February 29, 2024 and February 28, 2023 by 80 basis points. Adjusted operating margin for the six months ended February 29, 2024 remained flat at 15.2% compared with the six months ended February 28, 2023.
Three Months Ended
  February 29, 2024February 28, 2023
(in millions of U.S. dollars)Operating
Income (GAAP)		Business
Optimization (1)		Operating
Income (Non-GAAP)		Operating
Margin
(Non-GAAP)		Operating
Income (GAAP)		Business
Optimization (1)		Operating
Income (Non-GAAP)		Operating
Margin (Non-GAAP)		Increase
(Decrease)
North America$1,060 $5 $1,065 14 %$824 $177 $1,001 14 %$64 
EMEA (2)529 86 615 11 615 41 656 12 (42)
Growth Markets (2)457 25 482 17 505 26 532 19 (50)
Total$2,046 $115 $2,162 13.7 %$1,945 $244 $2,189 13.8 %$(27)
Six Months Ended
  February 29, 2024February 28, 2023
(in millions of U.S. dollars)Operating
Income (GAAP)		Business
Optimization (1)		Operating
Income (Non-GAAP)		Operating
Margin
(Non-GAAP)		Operating
Income (GAAP)		Business
Optimization (1)		Operating
Income (Non-GAAP)		Operating
Margin (Non-GAAP)		Increase
(Decrease)
North America$2,317 $51 $2,368 16 %$2,134 $177 $2,311 15 %$57 
EMEA (2)1,353 156 1,509 13 1,342 41 1,383 13 126 
Growth Markets (2)942 48 990 17 1,062 26 1,088 19 (98)
Total$4,611 $255 $4,866 15.2 %$4,538 $244 $4,782 15.2 %$84 
Amounts in tables may not total due to rounding.
(1)Costs recorded in connection with our business optimization initiatives, primarily for employee severance.
(2)Effective September 1, 2023, we revised the reporting of our geographic markets for the movement of our Middle East and Africa market units from Growth Markets to Europe, and the Europe market is now referred to as our EMEA (Europe, Middle East and Africa) geographic market. Prior period amounts have been reclassified to conform with the current period presentation.
Interest Income
Interest income for the second quarter of fiscal 2024 was $65 million, an increase of $15 million over the second quarter of fiscal 2023. Interest income for the six months ended February 29, 2024 was $167 million, an increase of $72 million over the six months ended February 28, 2023. The increase for the three and six months ended February 29, 2024 was primarily due to higher interest rates compared to the three and six months ended February 28, 2023.
Other Income (Expense), net
Other income (expense), net primarily consists of foreign currency gains and losses, non-operating components of pension expense, as well as gains and losses associated with our investments. During the three and six months ended February 29, 2024, Other income (expense), net decreased $31 million and $24 million from the three and six months ended February 28, 2023, respectively, primarily due to higher gains on investments, partially offset by higher foreign currency exchange losses. For additional information, see Note 1 (Basis of Presentation) to our Consolidated Financial Statements under Item 1, “Financial Statements."
Income Tax Expense
The effective tax rates for the second quarter of fiscal 2024 and 2023 were 18.4% and 20.4%, respectively. The lower effective tax rate for the second quarter of fiscal 2024 was primarily due to higher tax benefits from share-based payments. The effective tax rates for the six months ended February 29, 2024 and February 28, 2023 were 21.1% and 22.0%, respectively.




ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
30
Income Tax Expense Excluding Business Optimization Costs (Non-GAAP)
Excluding the business optimization costs of $115 million and $244 million, and related reduction in tax expense of $28 million and $52 million, our adjusted effective tax rates were 18.8% and 20.4% for the second quarter of fiscal 2024 and 2023, respectively. Excluding the business optimization costs of $255 million and $244 million, and related reduction in tax expense of $62 million and $52 million, our adjusted effective tax rates were 21.2% and 22.0% for the six months ended February 29, 2024 and February 28, 2023, respectively.
Earnings Per Share
Diluted earnings per share were $2.63 for the second quarter of fiscal 2024, compared with $2.39 for the second quarter of fiscal 2023. Diluted earnings per share were $5.73 for the six months ended February 29, 2024, compared with $5.47 for the six months ended February 28, 2023. For information regarding our earnings per share calculations, see Note 3 (Earnings Per Share) to our Consolidated Financial Statements under Item 1, “Financial Statements.”
Earnings Per Share Excluding Business Optimization Costs (Non-GAAP)
The business optimization costs of $87 million and $193 million, net of related taxes, decreased diluted earnings per share by $0.14 and $0.30 for the second quarter of fiscal 2024 and 2023, respectively. Adjusted diluted earnings per share were $2.77 and $2.69 for the second quarter of fiscal 2024 and 2023, respectively. The business optimization costs of $193 million, net of related taxes, decreased diluted earnings per share by $0.30 for both the six months ended February 29, 2024 and February 28, 2023. Adjusted diluted earnings per share were $6.04 and $5.77 for the six months ended February 29, 2024 and February 28, 2023, respectively.
Three Months EndedSix Months Ended
February 29, 2024 As Reported$2.63 $5.73 
Business optimization costs0.18 0.40 
Tax effect of business optimization costs (1)(0.04)(0.10)
February 29, 2024 As Adjusted$2.77 $6.04 
February 28, 2023 As Reported$2.39 $5.47 
Business optimization costs0.38 0.38 
Tax effect of business optimization costs (1)(0.08)(0.08)
February 28, 2023 As Adjusted$2.69 $5.77 
Amounts in table may not total due to rounding.
(1)The income tax effect of business optimization costs includes both the current and deferred income tax impact and was calculated by using the relevant tax rate of the country where the costs were recorded.
Changes in adjusted diluted earnings per share were due to the following factors:
Three Months EndedSix Months Ended
February 28, 2023 As Adjusted$2.69 $5.77 
Non-operating income0.06 0.11 
Effective tax rate0.06 0.06 
Lower share count— 0.01 
Net income attributable to noncontrolling interests(0.01)(0.01)
Operating results(0.03)0.10 
February 29, 2024 As Adjusted$2.77 $6.04 



ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
31
Liquidity and Capital Resources
As of February 29, 2024, Cash and cash equivalents was $5.1 billion, compared with $9.0 billion as of August 31, 2023.
Cash flows from operating, investing and financing activities, as reflected in our Consolidated Cash Flows Statements, are summarized in the following table:
  Six Months Ended
(in millions of U.S. dollars)February 29, 2024February 28, 2023Change
Net cash provided by (used in):
Operating activities$2,600 $2,826 $(226)
Investing activities(3,064)(1,260)(1,803)
Financing activities(3,418)(3,192)(225)
Effect of exchange rate changes on cash and cash equivalents(42)(24)(18)
Net increase (decrease) in cash and cash equivalents$(3,924)$(1,651)$(2,273)
Amounts in table may not total due to rounding.
Operating activities: The $226 million decrease in operating cash flows was primarily due to changes in operating assets and liabilities, partially offset by higher net income.
Investing activities: The $1,803 million increase in cash used was primarily due to higher spending on business acquisitions. For additional information, see Note 5 (Business Combinations) to our Consolidated Financial Statements under Item 1, “Financial Statements.”
Financing activities: The $225 million increase in cash used was primarily due to an increase in cash dividends paid. For additional information, see Note 7 (Shareholders’ Equity) to our Consolidated Financial Statements under Item 1, “Financial Statements.”
We believe that our current and longer-term working capital, investments and other general corporate funding requirements will be satisfied for the next twelve months and thereafter through cash flows from operations and, to the extent necessary, from our borrowing facilities and future financial market activities.
Substantially all of our cash is held in jurisdictions where there are no regulatory restrictions or material tax effects on the free flow of funds. Domestic cash inflows for our Irish parent, principally dividend distributions from lower-tier subsidiaries, have been sufficient to meet our historic cash requirements, and we expect this to continue into the future.
Borrowing Facilities
As of February 29, 2024, we had the following borrowing facilities:
(in millions of U.S. dollars)Credit Facilities
Syndicated loan facility (1)$3,000 
Separate, uncommitted, unsecured multicurrency revolving credit facilities1,900 
Local guaranteed and non-guaranteed lines of credit243 
Total$5,144 
Amounts in table may not total due to rounding.
(1)This facility, which matures on April 24, 2026, provides unsecured, revolving borrowing capacity for general corporate capital purposes, including the issuance of letters of credit and short-term commercial paper. Borrowings under this facility will accrue interest at the applicable risk-free rate plus a spread. We continue to be in compliance with relevant covenant terms. The facility is subject to annual commitment fees. As of February 29, 2024, we had $100 million of commercial paper outstanding and backed by this facility, with a weighted-average effective interest rate of 5.4%.
Under the borrowing facilities described above, we had an aggregate of $1,037 million of letters of credit outstanding as of February 29, 2024. We also had $100 million of commercial paper outstanding as of February 29, 2024. The amount of commercial paper and letters of credit outstanding reduces the available borrowing capacity under these facilities.


ACCENTURE FORM 10-Q
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
32
Share Purchases and Redemptions
The Board of Directors of Accenture plc has authorized funding for our publicly announced open-market share purchase program for acquiring Accenture plc Class A ordinary shares and for purchases and redemptions of Accenture plc Class A ordinary shares and Accenture Canada Holdings Inc. exchangeable shares held by current and former members of Accenture Leadership and their permitted transferees.
Our share purchase activity during the six months ended February 29, 2024 is as follows:
  Accenture plc Class A
Ordinary Shares		Accenture Canada
Holdings Inc. Exchangeable Shares
(in millions of U.S. dollars, except share amounts)SharesAmountSharesAmount
Open-market share purchases (1)5,659,433 $1,863 — $— 
Other share purchase programs— — 18,684 6 
Other purchases (2)1,892,301 644 — — 
Total7,551,734 $2,507 18,684 $6 
(1)We conduct a publicly announced open-market share purchase program for Accenture plc Class A ordinary shares. These shares are held as treasury shares by Accenture plc and may be utilized to provide for select employee benefits, such as equity awards to our employees.
(2)During the six months ended February 29, 2024, as authorized under our various employee equity share plans, we acquired Accenture plc Class A ordinary shares primarily via share withholding for payroll tax obligations due from employees and former employees in connection with the delivery of Accenture plc Class A ordinary shares under those plans. These purchases of shares in connection with employee share plans do not affect our aggregate available authorization for our publicly announced open-market share purchase and the other share purchase programs.
We intend to continue to use a significant portion of cash generated from operations for share repurchases during the remainder of fiscal 2024. The number of shares ultimately repurchased under our open-market share purchase program may vary depending on numerous factors, including, without limitation, share price and other market conditions, our ongoing capital allocation planning, the levels of cash and debt balances, other demands for cash, such as acquisition activity, general economic and/or business conditions, and board and management discretion. Additionally, as these factors may change over the course of the year, the amount of share repurchase activity during any particular period cannot be predicted and may fluctuate from time to time. Share repurchases may be made from time to time through open-market purchases, in respect of purchases and redemptions of Accenture Canada Holdings Inc. exchangeable shares, through the use of Rule 10b5-1 plans and/or by other means. The repurchase program may be accelerated, suspended, delayed or discontinued at any time, without notice.
Off-Balance Sheet Arrangements
In the normal course of business and in conjunction with some client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients with respect to certain matters.
To date, we have not been required to make any significant payment under any of the arrangements described above. For further discussion of these transactions, see Note 10 (Commitments and Contingencies) to our Consolidated Financial Statements under Item 1, “Financial Statements.”
Significant Accounting Policies
See Note 1 (Basis of Presentation) to our Consolidated Financial Statements under Item 1, “Financial Statements.”

ACCENTURE FORM 10-Q
Item 3. Quantitative and Qualitative Disclosures About Market Risk
33
Item 3. Quantitative and Qualitative Disclosures About Market Risk
During the six months ended February 29, 2024, there were no material changes to the information on market risk exposure disclosed in our Annual Report on Form 10-K for the year ended August 31, 2023. For a discussion of our market risk associated with foreign currency risk, interest rate risk and equity price risk as of August 31, 2023, see “Quantitative and Qualitative Disclosures About Market Risk” in Part II, Item 7A, of our Annual Report on Form 10-K for the year ended August 31, 2023.

Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
Our management, with the participation of our principal executive officer and our principal financial officer, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this report. Any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. Based on that evaluation, the principal executive officer and the principal financial officer of Accenture plc have concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were effective at the reasonable assurance level.
Changes in Internal Control Over Financial Reporting
There has been no change in our internal control over financial reporting that occurred during the second quarter of fiscal 2024 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting.

ACCENTURE FORM 10-Q
Part II — Other Information
34
Part II — Other Information
Item 1. Legal Proceedings
The information set forth under “Legal Contingencies” in Note 10 (Commitments and Contingencies) to our Consolidated Financial Statements under Part I, Item 1, “Financial Statements,” is incorporated herein by reference.
Item 1A. Risk Factors
For a discussion of our potential risks and uncertainties, see the information under the heading “Risk Factors” in our Annual Report on Form 10-K for the year ended August 31, 2023 (the “Annual Report”). There have been no material changes to the risk factors disclosed in our Annual Report.
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Purchases of Accenture plc Class A Ordinary Shares
The following table provides information relating to our purchases of Accenture plc Class A ordinary shares during the second quarter of fiscal 2024.
PeriodTotal Number
of Shares
Purchased		Average
Price Paid
per Share (1)		Total Number of
Shares Purchased as
Part of Publicly
Announced Plans or
Programs (2)		Approximate Dollar Value
of Shares that May Yet Be
Purchased Under the Plans or Programs (3)
  (in millions of U.S. dollars)
December 1, 2023 — December 31, 20231,075,866 $341.21 864,166 $5,114 
January 1, 2024 — January 31, 20241,799,089 350.56 708,412 4,861 
February 1, 2024 — February 29, 2024866,846 369.88 647,417 4,621 
Total (4)3,741,801 $352.35 2,219,995 
(1)Average price paid per share reflects the total cash outlay for the period, divided by the number of shares acquired, including those acquired by purchase or redemption for cash and any acquired by means of employee forfeiture.
(2)Since August 2001, the Board of Directors of Accenture plc has authorized and periodically confirmed a publicly announced open-market share purchase program for acquiring Accenture plc Class A ordinary shares. During the second quarter of fiscal 2024, we purchased 2,219,995 Accenture plc Class A ordinary shares under this program for an aggregate price of $788 million. The open-market purchase program does not have an expiration date.
(3)As of February 29, 2024, our aggregate available authorization for share purchases and redemptions was $4,621 million which management has the discretion to use for either our publicly announced open-market share purchase program or the other share purchase programs. Since August 2001 and as of February 29, 2024, the Board of Directors of Accenture plc has authorized an aggregate of $50.1 billion for share purchases and redemptions by Accenture plc and Accenture Canada Holdings Inc.
(4)During the second quarter of fiscal 2024, Accenture purchased 1,521,806 Accenture plc Class A ordinary shares in transactions unrelated to publicly announced share plans or programs. These transactions consisted of acquisitions of Accenture plc Class A ordinary shares primarily via share withholding for payroll tax obligations due from employees and former employees in connection with the delivery of Accenture plc Class A ordinary shares under our various employee equity share plans. These purchases of shares in connection with employee share plans do not affect our aggregate available authorization for our publicly announced open-market share purchase and the other share purchase programs.
Item 3. Defaults Upon Senior Securities
None.

ACCENTURE FORM 10-Q
Part II — Other Information
35
Item 4. Mine Safety Disclosures
Not applicable.
Item 5. Other Information
Trading Arrangements
During the second quarter of fiscal 2024, no executive officer or director adopted or terminated any Rule 10b5-1 trading arrangements (as defined in Item 408(a) of Regulation S-K) or non-Rule 10b5-1 trading arrangements (as defined in Item 408(c) of Regulation S-K).
Item 6. Exhibits
Exhibit Index:
Exhibit
Number		Exhibit
3.1
Amended and Restated Memorandum and Articles of Association of Accenture plc (incorporated by reference to Exhibit 3.1 to Accenture plc’s 8-K filed on February 7, 2018)
10.1*
Form of Director Restricted Share Unit Agreement pursuant to the Amended and Restated Accenture plc 2010 Share Incentive Plan (filed herewith)
10.2*
Form of Key Executive Performance-Based Award Restricted Share Unit Agreement pursuant to the Amended and Restated Accenture plc 2010 Share Incentive Plan (filed herewith)
10.3*
Form of Accenture Leadership Performance Equity Award Restricted Share Unit Agreement pursuant to the Amended and Restated Accenture plc 2010 Share Incentive Plan (filed herewith)
10.4*
Form of Voluntary Equity Investment Program Matching Grant Restricted Share Unit Agreement pursuant to the Amended and Restated Accenture plc 2010 Share Incentive Plan (filed herewith)
10.5*
Form of CEO Discretionary Grant Restricted Share Unit Agreement pursuant to the Amended and Restated Accenture plc 2010 Share Incentive Plan (filed herewith)
10.6*
Form of Key Executive Performance-Based Award Restricted Share Unit Agreement in France (filed herewith)
10.7*
Form of Accenture Leadership Performance Equity Award Restricted Share Unit Agreement in France (filed herewith)
10.8*
Amended and Restated Accenture plc 2010 Share Incentive Plan (incorporated by reference to Exhibit 10.1 to Accenture plc's 8-K filed on January 31, 2024)
10.9*
Amended and Restated Accenture plc 2010 Employee Share Purchase Plan (incorporated by reference to Exhibit 10.2 to Accenture plc’s 8-K filed on January 31, 2024)
31.1
Certification of the Principal Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
31.2
Certification of the Principal Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
32.1
Certification of the Principal Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
32.2
Certification of the Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
101The following financial information from Accenture plc’s Quarterly Report on Form 10-Q for the quarterly period ended February 29, 2024, formatted in Inline XBRL: (i) Consolidated Balance Sheets as of February 29, 2024 (Unaudited) and August 31, 2023, (ii) Consolidated Income Statements (Unaudited) for the three and six months ended February 29, 2024 and February 28, 2023, (iii) Consolidated Statements of Comprehensive Income (Unaudited) for the three and six months ended February 29, 2024 and February 28, 2023, (iv) Consolidated Shareholders’ Equity Statement (Unaudited) for the three and six months ended February 29, 2024 and February 28, 2023, (v) Consolidated Cash Flows Statements (Unaudited) for the six months ended February 29, 2024 and February 28, 2023 and (vi) the Notes to Consolidated Financial Statements (Unaudited)

ACCENTURE FORM 10-Q
Part II — Other Information
36
104The cover page from Accenture plc’s Quarterly Report on Form 10-Q for the quarterly period ended February 29, 2024, formatted in Inline XBRL (included as Exhibit 101)

ACCENTURE FORM 10-Q
Signatures
37
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: March 21, 2024
ACCENTURE PLC
By:/s/ KC McClure
Name:  KC McClure
Title:Chief Financial Officer
(Principal Financial Officer and Authorized Signatory)