10-Q 1 ctsh-20220930.htm 10-Q ctsh-20220930
false2022Q30001058290--12-31http://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTaxhttp://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTaxhttp://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTaxhttp://fasb.org/us-gaap/2022#ForeignCurrencyTransactionGainLossBeforeTax00010582902022-01-012022-09-3000010582902022-10-28xbrli:shares00010582902022-09-30iso4217:USD00010582902021-12-31iso4217:USDxbrli:shares00010582902022-07-012022-09-3000010582902021-07-012021-09-3000010582902021-01-012021-09-300001058290us-gaap:CommonStockMember2021-12-310001058290us-gaap:AdditionalPaidInCapitalMember2021-12-310001058290us-gaap:RetainedEarningsMember2021-12-310001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310001058290us-gaap:RetainedEarningsMember2022-01-012022-03-3100010582902022-01-012022-03-310001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310001058290us-gaap:CommonStockMember2022-01-012022-03-310001058290us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310001058290us-gaap:CommonStockMember2022-03-310001058290us-gaap:AdditionalPaidInCapitalMember2022-03-310001058290us-gaap:RetainedEarningsMember2022-03-310001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-3100010582902022-03-3100010582902022-04-012022-06-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300001058290us-gaap:CommonStockMember2022-04-012022-06-300001058290us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300001058290us-gaap:RetainedEarningsMember2022-04-012022-06-300001058290us-gaap:CommonStockMember2022-06-300001058290us-gaap:AdditionalPaidInCapitalMember2022-06-300001058290us-gaap:RetainedEarningsMember2022-06-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-3000010582902022-06-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-07-012022-09-300001058290us-gaap:CommonStockMember2022-07-012022-09-300001058290us-gaap:AdditionalPaidInCapitalMember2022-07-012022-09-300001058290us-gaap:RetainedEarningsMember2022-07-012022-09-300001058290us-gaap:CommonStockMember2022-09-300001058290us-gaap:AdditionalPaidInCapitalMember2022-09-300001058290us-gaap:RetainedEarningsMember2022-09-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-09-300001058290us-gaap:CommonStockMember2020-12-310001058290us-gaap:AdditionalPaidInCapitalMember2020-12-310001058290us-gaap:RetainedEarningsMember2020-12-310001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-3100010582902020-12-310001058290us-gaap:RetainedEarningsMember2021-01-012021-03-3100010582902021-01-012021-03-310001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310001058290us-gaap:CommonStockMember2021-01-012021-03-310001058290us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310001058290us-gaap:CommonStockMember2021-03-310001058290us-gaap:AdditionalPaidInCapitalMember2021-03-310001058290us-gaap:RetainedEarningsMember2021-03-310001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-3100010582902021-03-310001058290us-gaap:RetainedEarningsMember2021-04-012021-06-3000010582902021-04-012021-06-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300001058290us-gaap:CommonStockMember2021-04-012021-06-300001058290us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300001058290us-gaap:CommonStockMember2021-06-300001058290us-gaap:AdditionalPaidInCapitalMember2021-06-300001058290us-gaap:RetainedEarningsMember2021-06-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-3000010582902021-06-300001058290us-gaap:RetainedEarningsMember2021-07-012021-09-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-07-012021-09-300001058290us-gaap:CommonStockMember2021-07-012021-09-300001058290us-gaap:AdditionalPaidInCapitalMember2021-07-012021-09-300001058290us-gaap:CommonStockMember2021-09-300001058290us-gaap:AdditionalPaidInCapitalMember2021-09-300001058290us-gaap:RetainedEarningsMember2021-09-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-09-3000010582902021-09-300001058290ctsh:FinancialServicesMembersrt:NorthAmericaMember2022-07-012022-09-300001058290srt:NorthAmericaMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMembersrt:NorthAmericaMember2022-07-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMembersrt:NorthAmericaMember2022-07-012022-09-300001058290srt:NorthAmericaMember2022-07-012022-09-300001058290ctsh:FinancialServicesMembersrt:NorthAmericaMember2022-01-012022-09-300001058290srt:NorthAmericaMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMembersrt:NorthAmericaMember2022-01-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMembersrt:NorthAmericaMember2022-01-012022-09-300001058290srt:NorthAmericaMember2022-01-012022-09-300001058290ctsh:FinancialServicesMembercountry:GB2022-07-012022-09-300001058290country:GBctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMembercountry:GB2022-07-012022-09-300001058290country:GBctsh:CommunicationMediaandTechnologyMember2022-07-012022-09-300001058290country:GB2022-07-012022-09-300001058290ctsh:FinancialServicesMembercountry:GB2022-01-012022-09-300001058290country:GBctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMembercountry:GB2022-01-012022-09-300001058290country:GBctsh:CommunicationMediaandTechnologyMember2022-01-012022-09-300001058290country:GB2022-01-012022-09-300001058290ctsh:FinancialServicesMemberctsh:EuropeexcludingUnitedKingdomMember2022-07-012022-09-300001058290ctsh:EuropeexcludingUnitedKingdomMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:EuropeexcludingUnitedKingdomMember2022-07-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:EuropeexcludingUnitedKingdomMember2022-07-012022-09-300001058290ctsh:EuropeexcludingUnitedKingdomMember2022-07-012022-09-300001058290ctsh:FinancialServicesMemberctsh:EuropeexcludingUnitedKingdomMember2022-01-012022-09-300001058290ctsh:EuropeexcludingUnitedKingdomMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:EuropeexcludingUnitedKingdomMember2022-01-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:EuropeexcludingUnitedKingdomMember2022-01-012022-09-300001058290ctsh:EuropeexcludingUnitedKingdomMember2022-01-012022-09-300001058290ctsh:FinancialServicesMembersrt:EuropeMember2022-07-012022-09-300001058290srt:EuropeMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMembersrt:EuropeMember2022-07-012022-09-300001058290srt:EuropeMemberctsh:CommunicationMediaandTechnologyMember2022-07-012022-09-300001058290srt:EuropeMember2022-07-012022-09-300001058290ctsh:FinancialServicesMembersrt:EuropeMember2022-01-012022-09-300001058290srt:EuropeMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMembersrt:EuropeMember2022-01-012022-09-300001058290srt:EuropeMemberctsh:CommunicationMediaandTechnologyMember2022-01-012022-09-300001058290srt:EuropeMember2022-01-012022-09-300001058290ctsh:FinancialServicesMemberctsh:RestofWorldMember2022-07-012022-09-300001058290ctsh:RestofWorldMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:RestofWorldMember2022-07-012022-09-300001058290ctsh:RestofWorldMemberctsh:CommunicationMediaandTechnologyMember2022-07-012022-09-300001058290ctsh:RestofWorldMember2022-07-012022-09-300001058290ctsh:FinancialServicesMemberctsh:RestofWorldMember2022-01-012022-09-300001058290ctsh:RestofWorldMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:RestofWorldMember2022-01-012022-09-300001058290ctsh:RestofWorldMemberctsh:CommunicationMediaandTechnologyMember2022-01-012022-09-300001058290ctsh:RestofWorldMember2022-01-012022-09-300001058290ctsh:FinancialServicesMember2022-07-012022-09-300001058290ctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMember2022-07-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMember2022-07-012022-09-300001058290ctsh:FinancialServicesMember2022-01-012022-09-300001058290ctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMember2022-01-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMember2022-01-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:FinancialServicesMember2022-07-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:ConsultingAndTechnologyServicesMember2022-07-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:CommunicationMediaandTechnologyMember2022-07-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMember2022-07-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:FinancialServicesMember2022-01-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:ConsultingAndTechnologyServicesMember2022-01-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:CommunicationMediaandTechnologyMember2022-01-012022-09-300001058290ctsh:ConsultingAndTechnologyServicesMember2022-01-012022-09-300001058290ctsh:FinancialServicesMemberctsh:OutsourcingServicesMember2022-07-012022-09-300001058290ctsh:HealthSciencesMemberctsh:OutsourcingServicesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:OutsourcingServicesMember2022-07-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:OutsourcingServicesMember2022-07-012022-09-300001058290ctsh:OutsourcingServicesMember2022-07-012022-09-300001058290ctsh:FinancialServicesMemberctsh:OutsourcingServicesMember2022-01-012022-09-300001058290ctsh:HealthSciencesMemberctsh:OutsourcingServicesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:OutsourcingServicesMember2022-01-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:OutsourcingServicesMember2022-01-012022-09-300001058290ctsh:OutsourcingServicesMember2022-01-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:FinancialServicesMember2022-07-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:ProductsandResourcesMember2022-07-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:CommunicationMediaandTechnologyMember2022-07-012022-09-300001058290us-gaap:TimeAndMaterialsContractMember2022-07-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:FinancialServicesMember2022-01-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:ProductsandResourcesMember2022-01-012022-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:CommunicationMediaandTechnologyMember2022-01-012022-09-300001058290us-gaap:TimeAndMaterialsContractMember2022-01-012022-09-300001058290ctsh:FinancialServicesMemberus-gaap:FixedPriceContractMember2022-07-012022-09-300001058290us-gaap:FixedPriceContractMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:FixedPriceContractMember2022-07-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberus-gaap:FixedPriceContractMember2022-07-012022-09-300001058290us-gaap:FixedPriceContractMember2022-07-012022-09-300001058290ctsh:FinancialServicesMemberus-gaap:FixedPriceContractMember2022-01-012022-09-300001058290us-gaap:FixedPriceContractMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:FixedPriceContractMember2022-01-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberus-gaap:FixedPriceContractMember2022-01-012022-09-300001058290us-gaap:FixedPriceContractMember2022-01-012022-09-300001058290ctsh:FinancialServicesMemberctsh:TransactionOrVolumeBasedMember2022-07-012022-09-300001058290ctsh:TransactionOrVolumeBasedMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:TransactionOrVolumeBasedMember2022-07-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:TransactionOrVolumeBasedMember2022-07-012022-09-300001058290ctsh:TransactionOrVolumeBasedMember2022-07-012022-09-300001058290ctsh:FinancialServicesMemberctsh:TransactionOrVolumeBasedMember2022-01-012022-09-300001058290ctsh:TransactionOrVolumeBasedMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberctsh:TransactionOrVolumeBasedMember2022-01-012022-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:TransactionOrVolumeBasedMember2022-01-012022-09-300001058290ctsh:TransactionOrVolumeBasedMember2022-01-012022-09-300001058290ctsh:FinancialServicesMembersrt:NorthAmericaMember2021-07-012021-09-300001058290srt:NorthAmericaMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMembersrt:NorthAmericaMember2021-07-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMembersrt:NorthAmericaMember2021-07-012021-09-300001058290srt:NorthAmericaMember2021-07-012021-09-300001058290ctsh:FinancialServicesMembersrt:NorthAmericaMember2021-01-012021-09-300001058290srt:NorthAmericaMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMembersrt:NorthAmericaMember2021-01-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMembersrt:NorthAmericaMember2021-01-012021-09-300001058290srt:NorthAmericaMember2021-01-012021-09-300001058290ctsh:FinancialServicesMembercountry:GB2021-07-012021-09-300001058290country:GBctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMembercountry:GB2021-07-012021-09-300001058290country:GBctsh:CommunicationMediaandTechnologyMember2021-07-012021-09-300001058290country:GB2021-07-012021-09-300001058290ctsh:FinancialServicesMembercountry:GB2021-01-012021-09-300001058290country:GBctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMembercountry:GB2021-01-012021-09-300001058290country:GBctsh:CommunicationMediaandTechnologyMember2021-01-012021-09-300001058290country:GB2021-01-012021-09-300001058290ctsh:FinancialServicesMemberctsh:EuropeexcludingUnitedKingdomMember2021-07-012021-09-300001058290ctsh:EuropeexcludingUnitedKingdomMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:EuropeexcludingUnitedKingdomMember2021-07-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:EuropeexcludingUnitedKingdomMember2021-07-012021-09-300001058290ctsh:EuropeexcludingUnitedKingdomMember2021-07-012021-09-300001058290ctsh:FinancialServicesMemberctsh:EuropeexcludingUnitedKingdomMember2021-01-012021-09-300001058290ctsh:EuropeexcludingUnitedKingdomMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:EuropeexcludingUnitedKingdomMember2021-01-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:EuropeexcludingUnitedKingdomMember2021-01-012021-09-300001058290ctsh:EuropeexcludingUnitedKingdomMember2021-01-012021-09-300001058290ctsh:FinancialServicesMembersrt:EuropeMember2021-07-012021-09-300001058290srt:EuropeMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMembersrt:EuropeMember2021-07-012021-09-300001058290srt:EuropeMemberctsh:CommunicationMediaandTechnologyMember2021-07-012021-09-300001058290srt:EuropeMember2021-07-012021-09-300001058290ctsh:FinancialServicesMembersrt:EuropeMember2021-01-012021-09-300001058290srt:EuropeMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMembersrt:EuropeMember2021-01-012021-09-300001058290srt:EuropeMemberctsh:CommunicationMediaandTechnologyMember2021-01-012021-09-300001058290srt:EuropeMember2021-01-012021-09-300001058290ctsh:FinancialServicesMemberctsh:RestofWorldMember2021-07-012021-09-300001058290ctsh:RestofWorldMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:RestofWorldMember2021-07-012021-09-300001058290ctsh:RestofWorldMemberctsh:CommunicationMediaandTechnologyMember2021-07-012021-09-300001058290ctsh:RestofWorldMember2021-07-012021-09-300001058290ctsh:FinancialServicesMemberctsh:RestofWorldMember2021-01-012021-09-300001058290ctsh:RestofWorldMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:RestofWorldMember2021-01-012021-09-300001058290ctsh:RestofWorldMemberctsh:CommunicationMediaandTechnologyMember2021-01-012021-09-300001058290ctsh:RestofWorldMember2021-01-012021-09-300001058290ctsh:FinancialServicesMember2021-07-012021-09-300001058290ctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMember2021-07-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMember2021-07-012021-09-300001058290ctsh:FinancialServicesMember2021-01-012021-09-300001058290ctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMember2021-01-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMember2021-01-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:FinancialServicesMember2021-07-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:ConsultingAndTechnologyServicesMember2021-07-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:CommunicationMediaandTechnologyMember2021-07-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMember2021-07-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:FinancialServicesMember2021-01-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:ConsultingAndTechnologyServicesMember2021-01-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMemberctsh:CommunicationMediaandTechnologyMember2021-01-012021-09-300001058290ctsh:ConsultingAndTechnologyServicesMember2021-01-012021-09-300001058290ctsh:FinancialServicesMemberctsh:OutsourcingServicesMember2021-07-012021-09-300001058290ctsh:HealthSciencesMemberctsh:OutsourcingServicesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:OutsourcingServicesMember2021-07-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:OutsourcingServicesMember2021-07-012021-09-300001058290ctsh:OutsourcingServicesMember2021-07-012021-09-300001058290ctsh:FinancialServicesMemberctsh:OutsourcingServicesMember2021-01-012021-09-300001058290ctsh:HealthSciencesMemberctsh:OutsourcingServicesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:OutsourcingServicesMember2021-01-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:OutsourcingServicesMember2021-01-012021-09-300001058290ctsh:OutsourcingServicesMember2021-01-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:FinancialServicesMember2021-07-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:ProductsandResourcesMember2021-07-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:CommunicationMediaandTechnologyMember2021-07-012021-09-300001058290us-gaap:TimeAndMaterialsContractMember2021-07-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:FinancialServicesMember2021-01-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:ProductsandResourcesMember2021-01-012021-09-300001058290us-gaap:TimeAndMaterialsContractMemberctsh:CommunicationMediaandTechnologyMember2021-01-012021-09-300001058290us-gaap:TimeAndMaterialsContractMember2021-01-012021-09-300001058290ctsh:FinancialServicesMemberus-gaap:FixedPriceContractMember2021-07-012021-09-300001058290us-gaap:FixedPriceContractMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:FixedPriceContractMember2021-07-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberus-gaap:FixedPriceContractMember2021-07-012021-09-300001058290us-gaap:FixedPriceContractMember2021-07-012021-09-300001058290ctsh:FinancialServicesMemberus-gaap:FixedPriceContractMember2021-01-012021-09-300001058290us-gaap:FixedPriceContractMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:FixedPriceContractMember2021-01-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberus-gaap:FixedPriceContractMember2021-01-012021-09-300001058290us-gaap:FixedPriceContractMember2021-01-012021-09-300001058290ctsh:FinancialServicesMemberctsh:TransactionOrVolumeBasedMember2021-07-012021-09-300001058290ctsh:TransactionOrVolumeBasedMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:TransactionOrVolumeBasedMember2021-07-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:TransactionOrVolumeBasedMember2021-07-012021-09-300001058290ctsh:TransactionOrVolumeBasedMember2021-07-012021-09-300001058290ctsh:FinancialServicesMemberctsh:TransactionOrVolumeBasedMember2021-01-012021-09-300001058290ctsh:TransactionOrVolumeBasedMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberctsh:TransactionOrVolumeBasedMember2021-01-012021-09-300001058290ctsh:CommunicationMediaandTechnologyMemberctsh:TransactionOrVolumeBasedMember2021-01-012021-09-300001058290ctsh:TransactionOrVolumeBasedMember2021-01-012021-09-3000010582902022-10-012022-09-30xbrli:pure0001058290us-gaap:ShortTermInvestmentsMember2022-09-300001058290us-gaap:ShortTermInvestmentsMember2021-12-310001058290ctsh:LongterminvestmentsMember2022-09-300001058290ctsh:LongterminvestmentsMember2021-12-310001058290ctsh:CertificatesOfDepositAndCommercialPaperMemberus-gaap:ShortTermInvestmentsMember2022-09-300001058290us-gaap:CommercialPaperMemberus-gaap:ShortTermInvestmentsMember2021-12-310001058290us-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2022-09-300001058290us-gaap:ShortTermInvestmentsMemberus-gaap:CorporateDebtSecuritiesMember2021-12-310001058290us-gaap:CommercialPaperMemberus-gaap:ShortTermInvestmentsMember2022-09-300001058290us-gaap:CommercialPaperMemberus-gaap:ShortTermInvestmentsMember2021-12-310001058290us-gaap:ShortTermInvestmentsMember2022-09-300001058290us-gaap:ShortTermInvestmentsMember2021-12-310001058290us-gaap:CorporateDebtSecuritiesMember2022-09-300001058290us-gaap:CommercialPaperMember2022-09-300001058290srt:MaximumMember2022-09-300001058290us-gaap:CorporateDebtSecuritiesMember2021-12-310001058290us-gaap:CommercialPaperMember2021-12-310001058290srt:MaximumMember2021-12-310001058290us-gaap:LoansPayableMemberctsh:CreditAgreementMember2018-11-300001058290us-gaap:UnsecuredDebtMemberus-gaap:RevolvingCreditFacilityMemberctsh:CreditAgreementMember2018-11-300001058290us-gaap:LoansPayableMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-060001058290us-gaap:UnsecuredDebtMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-060001058290us-gaap:EurodollarMemberctsh:CreditAgreementMember2022-01-012022-09-300001058290us-gaap:BaseRateMemberctsh:CreditAgreementMember2022-01-012022-09-300001058290ctsh:TermBenchmarkMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-012022-10-310001058290us-gaap:BaseRateMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-012022-10-310001058290ctsh:TermBenchmarkMembersrt:MinimumMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-012022-10-310001058290ctsh:TermBenchmarkMembersrt:MaximumMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-012022-10-310001058290ctsh:TermBenchmarkWithoutDebtRatingsMembersrt:MinimumMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-012022-10-310001058290ctsh:TermBenchmarkWithoutDebtRatingsMembersrt:MaximumMemberus-gaap:SubsequentEventMemberctsh:NewCreditAgreementMember2022-10-012022-10-310001058290srt:MaximumMemberus-gaap:SubsequentEventMember2022-10-012022-10-310001058290ctsh:WorkingCapitalFacilityMember2022-03-01iso4217:INR0001058290ctsh:WorkingCapitalFacilityMember2022-09-300001058290us-gaap:LoansPayableMemberctsh:CreditAgreementMember2022-09-300001058290us-gaap:LoansPayableMemberctsh:CreditAgreementMember2021-12-310001058290ctsh:CreditAgreementMember2022-09-300001058290ctsh:CreditAgreementMember2021-12-310001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2013IndiaShareRepurchaseMember2013-01-012013-12-310001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMember2016-01-012016-12-310001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMember2018-03-310001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMember2022-09-300001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMember2018-04-300001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:OtherCurrentAssetsMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMember2022-09-300001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:OtherCurrentAssetsMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMember2021-12-310001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMemberctsh:LongterminvestmentsMember2022-09-300001058290us-gaap:MinistryOfFinanceIndiaMemberus-gaap:ForeignCountryMemberctsh:A2016IndiaCashRemittanceMemberctsh:LongterminvestmentsMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherCurrentAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentAssetsMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberctsh:AccruedExpensesAndOtherCurrentLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberctsh:AccruedExpensesAndOtherCurrentLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-12-310001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMember2022-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMemberus-gaap:OtherCurrentAssetsMember2021-12-310001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMemberctsh:AccruedExpensesAndOtherCurrentLiabilitiesMember2022-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMemberctsh:AccruedExpensesAndOtherCurrentLiabilitiesMember2021-12-310001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2022-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberctsh:ForeignExchangeContractMaturity2022Memberus-gaap:CashFlowHedgingMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberctsh:ForeignExchangeContractMaturity2022Memberus-gaap:CashFlowHedgingMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberctsh:ForeignExchangeContractMaturity2023Member2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberctsh:ForeignExchangeContractMaturity2023Member2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberctsh:ForeignExchangeContractMaturity2024Memberus-gaap:CashFlowHedgingMember2022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberctsh:ForeignExchangeContractMaturity2024Memberus-gaap:CashFlowHedgingMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:ForeignExchangeOptionMemberus-gaap:CashFlowHedgingMember2021-12-310001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-07-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-07-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMemberus-gaap:CashFlowHedgingMember2022-07-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMemberus-gaap:CashFlowHedgingMember2021-07-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:CashFlowHedgingMember2022-07-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:CashFlowHedgingMember2021-07-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2022-07-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-07-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2022-01-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:ForeignExchangeContractMember2021-01-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMemberus-gaap:CashFlowHedgingMember2022-01-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CostOfSalesMemberus-gaap:CashFlowHedgingMember2021-01-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:CashFlowHedgingMember2022-01-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:CashFlowHedgingMember2021-01-012021-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2022-01-012022-09-300001058290us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMember2021-01-012021-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2022-07-012022-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-07-012021-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2022-01-012022-09-300001058290us-gaap:ForeignExchangeForwardMemberus-gaap:NondesignatedMember2021-01-012021-09-300001058290us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:CashEquivalentsMemberus-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel1Memberus-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberus-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel1Memberctsh:CertificatesOfDepositAndCommercialPaperMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberctsh:CertificatesOfDepositAndCommercialPaperMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290ctsh:CertificatesOfDepositAndCommercialPaperMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290ctsh:CertificatesOfDepositAndCommercialPaperMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberctsh:LongterminvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290ctsh:LongterminvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2022-09-300001058290us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:MoneyMarketFundsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CashEquivalentsMemberus-gaap:FairValueInputsLevel2Memberus-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:BankTimeDepositsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CashEquivalentsMemberus-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CommercialPaperMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel1Memberus-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberus-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:BankTimeDepositsMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel1Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CommercialPaperMemberus-gaap:FairValueInputsLevel2Memberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CommercialPaperMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:CommercialPaperMemberus-gaap:ShortTermInvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherCurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberctsh:LongterminvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290ctsh:LongterminvestmentsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel1Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherNoncurrentAssetsMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel1Memberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherCurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel1Memberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:FairValueInputsLevel2Memberus-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueInputsLevel3Memberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290us-gaap:OtherNoncurrentLiabilitiesMemberus-gaap:FairValueMeasurementsRecurringMember2021-12-310001058290ctsh:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2021-12-310001058290ctsh:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2020-12-310001058290ctsh:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2022-01-012022-09-300001058290ctsh:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2021-01-012021-09-300001058290ctsh:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2022-09-300001058290ctsh:ContingentConsiderationMemberus-gaap:FairValueInputsLevel3Member2021-09-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2022-06-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310001058290us-gaap:AccumulatedTranslationAdjustmentMember2022-07-012022-09-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-09-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2022-09-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-06-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-12-310001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-07-012022-09-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-01-012022-09-300001058290us-gaap:CostOfSalesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-07-012022-09-300001058290us-gaap:CostOfSalesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-01-012022-09-300001058290us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-07-012022-09-300001058290us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-01-012022-09-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2022-09-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-09-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2021-06-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310001058290us-gaap:AccumulatedTranslationAdjustmentMember2021-07-012021-09-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-09-300001058290us-gaap:AccumulatedTranslationAdjustmentMember2021-09-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-06-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2020-12-310001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-07-012021-09-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-01-012021-09-300001058290us-gaap:CostOfSalesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-07-012021-09-300001058290us-gaap:CostOfSalesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-01-012021-09-300001058290us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-07-012021-09-300001058290us-gaap:SellingGeneralAndAdministrativeExpensesMemberus-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-01-012021-09-300001058290us-gaap:AccumulatedNetGainLossFromDesignatedOrQualifyingCashFlowHedgesMember2021-09-300001058290us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-09-300001058290ctsh:SyntelSterlingBestShoresMauritiusLtdMember2020-10-272020-10-270001058290ctsh:SyntelSterlingBestShoresMauritiusLtdMember2021-04-202021-04-200001058290ctsh:IndiaDefinedContributionObligationMember2019-06-300001058290ctsh:FinancialServicesMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001058290ctsh:FinancialServicesMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001058290ctsh:FinancialServicesMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001058290ctsh:FinancialServicesMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001058290us-gaap:OperatingSegmentsMemberctsh:HealthSciencesMember2022-07-012022-09-300001058290us-gaap:OperatingSegmentsMemberctsh:HealthSciencesMember2021-07-012021-09-300001058290us-gaap:OperatingSegmentsMemberctsh:HealthSciencesMember2022-01-012022-09-300001058290us-gaap:OperatingSegmentsMemberctsh:HealthSciencesMember2021-01-012021-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:OperatingSegmentsMember2022-07-012022-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:OperatingSegmentsMember2021-07-012021-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:OperatingSegmentsMember2022-01-012022-09-300001058290ctsh:ProductsandResourcesMemberus-gaap:OperatingSegmentsMember2021-01-012021-09-300001058290us-gaap:OperatingSegmentsMemberctsh:CommunicationsMediaandTechnologyMember2022-07-012022-09-300001058290us-gaap:OperatingSegmentsMemberctsh:CommunicationsMediaandTechnologyMember2021-07-012021-09-300001058290us-gaap:OperatingSegmentsMemberctsh:CommunicationsMediaandTechnologyMember2022-01-012022-09-300001058290us-gaap:OperatingSegmentsMemberctsh:CommunicationsMediaandTechnologyMember2021-01-012021-09-300001058290us-gaap:OperatingSegmentsMember2022-07-012022-09-300001058290us-gaap:OperatingSegmentsMember2021-07-012021-09-300001058290us-gaap:OperatingSegmentsMember2022-01-012022-09-300001058290us-gaap:OperatingSegmentsMember2021-01-012021-09-300001058290us-gaap:CorporateNonSegmentMember2022-07-012022-09-300001058290us-gaap:CorporateNonSegmentMember2021-07-012021-09-300001058290us-gaap:CorporateNonSegmentMember2022-01-012022-09-300001058290us-gaap:CorporateNonSegmentMember2021-01-012021-09-300001058290srt:NorthAmericaMember2022-09-300001058290srt:NorthAmericaMember2021-12-310001058290srt:EuropeMember2022-09-300001058290srt:EuropeMember2021-12-310001058290ctsh:RestofWorldMember2022-09-300001058290ctsh:RestofWorldMember2021-12-310001058290us-gaap:SubsequentEventMember2022-10-312022-10-310001058290us-gaap:SubsequentEventMemberctsh:OneSourceVirtualMember2022-11-012022-11-020001058290us-gaap:SubsequentEventMember2022-11-02
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 September 30, 2022
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 0-24429
ctsh-20220930_g1.jpg
 COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware 13-3728359
(State or Other Jurisdiction of
Incorporation or Organization)
 (I.R.S. Employer
Identification No.)
300 Frank W. Burr Blvd.
Teaneck, New Jersey 07666
(Address of Principal Executive Offices including Zip Code)
Registrant’s telephone number, including area code: (201801-0233
N/A
(Former Name, Former Address and Former Fiscal Year,
if Changed Since Last Report)
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 Common Stock,
$0.01 par value per share
CTSHThe Nasdaq Stock Market LLC
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  
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of October 28, 2022:
Class Number of Shares
Class A Common Stock, par value $0.01 per share 513,921,432




COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
TABLE OF CONTENTS
 
  Page
PART I.
Item 1.
Item 2.
Item 3.
Item 4.
PART II.
Item 1.
Item 1A.
Item 2.
Item 6.




GLOSSARY
Defined TermDefinition
10b5-1 Plan
Trading plan adopted pursuant to Rule 10b5-1 of the Exchange Act
Adjusted Diluted EPSAdjusted Diluted Earnings Per Share
ASCAccounting Standards Codification
ASRAccelerated Stock Repurchase
CCConstant Currency
CITACommissioner of Income Tax (Appeals)
Class Action Settlement Loss
Loss recorded in connection with the filing of a settlement agreement to resolve the consolidated putative securities class action against us and certain of our former officers
CMTCommunications, Media and Technology
COVID-19The novel coronavirus disease
Credit AgreementCredit agreement with a commercial bank syndicate dated November 6, 2018, as amended
CTS IndiaOur principal operating subsidiary in India
DOJUnited States Department of Justice
DSODays Sales Outstanding
EPSEarnings Per Share
ESGEnvironmental, Social and Governance
EUEuropean Union
Exchange ActSecurities Exchange Act of 1934, as amended
GAAPGenerally Accepted Accounting Principles in the United States of America
High CourtMadras High Court
India Defined Contribution ObligationCertain statutory defined contribution obligations of employees and employers in India
IoTInternet of Things
ITDIndian Income Tax Department
New Credit AgreementCredit agreement with a commercial bank syndicate dated October 6, 2022
New Term LoanUnsecured term loan under the New Credit Agreement
SCISupreme Court of India
SECUnited States Securities and Exchange Commission
Second CircuitUnited States Court of Appeals for the Second Circuit
SG&ASelling, general and administrative
Syntel
Syntel Sterling Best Shores Mauritius Ltd.
Tax Reform ActTax Cuts and Jobs Act
Term LoanUnsecured term loan under the Credit Agreement
TriZetto
The TriZetto Group, Inc., now known as Cognizant Technology Software Group, Inc.
USDC-NJUnited States District Court for the District of New Jersey
USDC-SDNY
United States District Court for the Southern District of New York






Cognizant Technology Solutions
1
September 30, 2022 Form 10-Q
                        

PART I. FINANCIAL INFORMATION
 
Item 1.     Consolidated Financial Statements (Unaudited).
COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
(Unaudited)
(in millions, except par values)September 30, 2022December 31
2021
Assets
Current assets:
Cash and cash equivalents$2,042 $1,792 
Short-term investments689 927 
Trade accounts receivable, net3,686 3,557 
Other current assets900 1,066 
Total current assets7,317 7,342 
Property and equipment, net1,105 1,171 
Operating lease assets, net873 933 
Goodwill5,425 5,620 
Intangible assets, net1,038 1,218 
Deferred income tax assets, net520 404 
Long-term investments431 463 
Other noncurrent assets638 701 
Total assets$17,347 $17,852 
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable$367 $361 
Deferred revenue345 403 
Short-term debt 38 
Operating lease liabilities173 195 
Accrued expenses and other current liabilities2,338 2,532 
Total current liabilities3,223 3,529 
Deferred revenue, noncurrent17 40 
Operating lease liabilities, noncurrent711 783 
Deferred income tax liabilities, net190 218 
Long-term debt636 626 
Long-term income taxes payable283 378 
Other noncurrent liabilities329 287 
Total liabilities5,389 5,861 
Commitments and contingencies (See Note 10)
Stockholders’ equity:
Preferred stock, $0.10 par value, 15 shares authorized, none issued
  
Class A common stock, $0.01 par value, 1,000 shares authorized, 514 and 525 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively
5 5 
Additional paid-in capital17 27 
Retained earnings12,447 11,922 
Accumulated other comprehensive income (loss)(511)37 
Total stockholders’ equity11,958 11,991 
Total liabilities and stockholders’ equity$17,347 $17,852 
The accompanying notes are an integral part of the unaudited consolidated financial statements.





Cognizant Technology Solutions
2
September 30, 2022 Form 10-Q
                        

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)

 
 (in millions, except per share data)
Three Months Ended
September 30,
Nine Months Ended
September 30,
 2022202120222021
Revenues$4,857 $4,744 $14,589 $13,730 
Operating expenses:
Cost of revenues (exclusive of depreciation and amortization expense shown separately below)3,080 2,947 9,296 8,574 
Selling, general and administrative expenses838 924 2,583 2,632 
Depreciation and amortization expense141 144 428 430 
Income from operations798 729 2,282 2,094 
Other income (expense), net:
Interest income17 7 32 23 
Interest expense(6)(3)(11)(7)
Foreign currency exchange gains (losses), net3 (3)(1)(19)
Other, net 1  (1)
Total other income (expense), net14 2 20 (4)
Income before provision for income taxes812 731 2,302 2,090 
Provision for income taxes(183)(187)(537)(531)
Income (loss) from equity method investments  4 2 
Net income$629 $544 $1,769 $1,561 
Basic earnings per share$1.22 $1.04 $3.40 $2.96 
Diluted earnings per share$1.22 $1.03 $3.40 $2.96 
Weighted average number of common shares outstanding - Basic516 525 520 527 
Dilutive effect of shares issuable under stock-based compensation plans1 1 1 1 
Weighted average number of common shares outstanding - Diluted517 526 521 528 
The accompanying notes are an integral part of the unaudited consolidated financial statements.





Cognizant Technology Solutions
3
September 30, 2022 Form 10-Q
                        

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Unaudited)

 
 (in millions)
Three Months Ended
September 30,
Nine Months Ended
September 30,
 2022202120222021
Net income$629 $544 $1,769 $1,561 
Change in Accumulated other comprehensive income (loss), net of tax:
Foreign currency translation adjustments(197)(63)(427)(74)
Unrealized gains and losses on cash flow hedges(45)14 (121)(3)
Other comprehensive income (loss)(242)(49)(548)(77)
Comprehensive income$387 $495 $1,221 $1,484 
The accompanying notes are an integral part of the unaudited consolidated financial statements.





Cognizant Technology Solutions
4
September 30, 2022 Form 10-Q
                        

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Unaudited)
 (in millions)
Class A Common StockAdditional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
 Total
Shares    Amount
Balance, December 31, 2021525 $5 $27 $11,922 $37 $11,991 
Net income— — — 563 — 563 
Other comprehensive income (loss)— — — — (56)(56)
Common stock issued, stock-based compensation plans1 — 31 — — 31 
Stock-based compensation expense— — 56 — — 56 
Repurchases of common stock(5)— (83)(387)— (470)
Dividends declared, $0.27 per share
— — — (142)— (142)
Balance, March 31, 2022521 5 31 11,956 (19)11,973 
Net income— — — 577 — 577 
Other comprehensive income (loss)— — — — (250)(250)
Common stock issued, stock-based compensation plans1 — 21 — — 21 
Stock-based compensation expense— — 89 — — 89 
Repurchases of common stock(4)— (120)(198)— (318)
Dividends declared, $0.27 per share
— — — (142)— (142)
Balance, June 30, 2022518 5 21 12,193 (269)11,950 
Net income— — — 629 — 629 
Other comprehensive income (loss)— — — — (242)(242)
Common stock issued, stock-based compensation plans1 — 19 — — 19 
Stock-based compensation expense— — 58 — — 58 
Repurchases of common stock(5)— (81)(234)— (315)
Dividends declared, $0.27 per share
— — — (141)— (141)
Balance, September 30, 2022514 $5 $17 $12,447 $(511)$11,958 
The accompanying notes are an integral part of the unaudited consolidated financial statements.






Cognizant Technology Solutions
5
September 30, 2022 Form 10-Q
                        

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Unaudited)
 (in millions)
Class A Common StockAdditional
Paid-in
Capital
Retained
Earnings
Accumulated
Other
Comprehensive
Income (Loss)
 Total
Shares    Amount
Balance, December 31, 2020530 $5 $32 $10,689 $110 $10,836 
Net income— — — 505 — 505 
Other comprehensive income (loss)— — — — (29)(29)
Common stock issued, stock-based compensation plans1 — 43 — — 43 
Stock-based compensation expense— — 62 — — 62 
Repurchases of common stock(3)— (93)(159)— (252)
Dividends declared, $0.24 per share
— — — (128)— (128)
Balance, March 31, 2021528 5 44 10,907 81 11,037 
Net income— — — 512 — 512 
Other comprehensive income (loss)— — — — 1 1 
Common stock issued, stock-based compensation plans
1 — 32 — — 32 
Stock-based compensation expense— — 67 — — 67 
Repurchases of common stock(4)— (111)(205)— (316)
Dividends declared, $0.24 per share
— — — (128)— (128)
Balance, June 30, 2021525 5 32 11,086 82 11,205 
Net income— — — 544 — 544 
Other comprehensive income (loss)— — — — (49)(49)
Common stock issued, stock-based compensation plans2 — 29 — — 29 
Stock-based compensation expense— — 65 — — 65 
Repurchases of common stock(2)— (97)(24)— (121)
Dividends declared, $0.24 per share
— — — (127)— (127)
Balance, September 30, 2021525 $5 $29 $11,479 $33 $11,546 
The accompanying notes are an integral part of the unaudited consolidated financial statements.





Cognizant Technology Solutions
6
September 30, 2022 Form 10-Q
                        

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

 (in millions)
For the Nine Months Ended
September 30,
 20222021
Cash flows from operating activities:
Net income$1,769 $1,561 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization428 430 
Deferred income taxes(128)146 
Stock-based compensation expense203 194 
Other81 (1)
Changes in assets and liabilities:
Trade accounts receivable(173)(371)
Other current and noncurrent assets261 257 
Accounts payable(17)(39)
Deferred revenues, current and noncurrent(77)(75)
Other current and noncurrent liabilities(481)(432)
Net cash provided by operating activities1,866 1,670 
Cash flows from investing activities:
Purchases of property and equipment(242)(214)
Purchases of available-for-sale investment securities(1,068)(400)
Proceeds from maturity or sale of available-for-sale investment securities774 105 
Purchases of held-to-maturity investment securities(44)(160)
Proceeds from maturity of held-to-maturity investment securities48 150 
Purchases of other investments(418)(1,192)
Proceeds from maturity or sale of other investments894 760 
Proceeds from sales of businesses28  
Payments for business combinations, net of cash acquired (715)
Net cash (used in) investing activities(28)(1,666)
Cash flows from financing activities:
Issuance of common stock under stock-based compensation plans71 104 
Repurchases of common stock(1,107)(689)
Repayment of Term Loan borrowings and finance lease and earnout obligations(47)(40)
Dividends paid(425)(382)
Net cash (used in) financing activities(1,508)(1,007)
Effect of exchange rate changes on cash and cash equivalents(80)(13)
Increase (decrease) in cash and cash equivalents250 (1,016)
Cash and cash equivalents, beginning of year1,792 2,680 
Cash and cash equivalents, end of period$2,042 $1,664 
The accompanying notes are an integral part of the unaudited consolidated financial statements.





Cognizant Technology Solutions
7
September 30, 2022 Form 10-Q
                        

COGNIZANT TECHNOLOGY SOLUTIONS CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Unaudited)
Note 1 — Interim Consolidated Financial Statements
The terms “Cognizant,” “we,” “our,” “us” and “the Company” refer to Cognizant Technology Solutions Corporation and its subsidiaries unless the context indicates otherwise. We have prepared the accompanying unaudited consolidated financial statements included herein in accordance with GAAP and the Exchange Act. The accompanying unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements (and notes thereto) included in our Annual Report on Form 10-K for the year ended December 31, 2021. In our opinion, all adjustments considered necessary for a fair statement of the accompanying unaudited consolidated financial statements have been included and all adjustments are of a normal and recurring nature. Operating results for the interim periods are not necessarily indicative of results that may be expected to occur for the entire year.
Note 2 — Revenues and Trade Accounts Receivable
Disaggregation of Revenues

The tables below present disaggregated revenues from contracts with clients by client location, service line and contract type for each of the business segments. We believe this disaggregation best depicts how the nature, amount, timing and uncertainty of revenues and cash flows are affected by industry, market and other economic factors. Our consulting and technology services include consulting, application development, systems integration and application testing services as well as software solutions and related services while our outsourcing services include application maintenance, infrastructure and business process services. Revenues are attributed to geographic regions based upon client location, which is the client's billing address. Substantially all revenues in the North America region relate to clients in the United States.

We have defined our Financial Services, Health Sciences (previously referred to as Healthcare), Products and Resources and Communications, Media and Technology segments as ("FS"), ("HS"), ("P&R"), and ("CMT"), respectively, in our disaggregation of revenues tables.
Three Months Ended
September 30, 2022
Nine Months Ended
September 30, 2022
(in millions)FSHSP&RCMTTotalFSHSP&RCMTTotal
Revenues
Geography:
North America$1,086 $1,212 $779 $544 $3,621 $3,270 $3,617 $2,310 $1,649 $10,846 
United Kingdom148 41 130 127 446 446 129 396 386 1,357 
Continental Europe143 119 143 33 438 443 365 431 103 1,342 
Europe - Total291 160 273 160 884 889 494 827 489 2,699 
Rest of World 144 33 96 79 352 432 94 281 237 1,044 
Total$1,521 $1,405 $1,148 $783 $4,857 $4,591 $4,205 $3,418 $2,375 $14,589 
Service line:
Consulting and technology services$1,062 $802 $756 $429 $3,049 $3,197 $2,411 $2,263 $1,342 $9,213 
Outsourcing services459 603 392 354 1,808 1,394 1,794 1,155 1,033 5,376 
Total$1,521 $1,405 $1,148 $783 $4,857 $4,591 $4,205 $3,418 $2,375 $14,589 
Type of contract:
Time and materials$890 $505 $469 $443 $2,307 $2,674 $1,504 $1,407 $