CTSH — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-07-29

• In the second quarter of 2026, we initiated Project Leap, a program designed to accelerate our transformation to the operating model of the future by funding investments in our integrated offerings, AI capabilities and partnerships, reshaping productivity through competitive offerings and upskilling…

• In connection with Project Leap, in the second quarter of 2026 we incurred $84 million of employee separation and other costs. See Note 4 to our unaudited consolidated financial statements. We expect to record total costs of $230 million to $320 million, with substantially all of the costs expected …

• As disclosed in Note 11 to our unaudited consolidated financial statements, management concluded that the portion of the India Defined Contribution Obligation liability recorded in 2019 that relates to periods where no proceedings had been initiated by the government is no longer required. Thus, in …

• During the second quarter of 2026, we repurchased $1,153 million of our Class A common stock under our stock repurchase program: $653 million through open market purchases and $500 million through ASR agreements. Additionally, we completed our acquisition of Astreya for a purchase price of $634 mill…

• Revenue up $236 million or 4.5% from Q2 2025; an increase of 4.1% in constant currency1

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• Revenue up $298 million or 5.8% from Q1 2025; an increase of 3.9% in constant currency1

• Income from Operations down $10 million or 1.2% from Q1 2025

• Adjusted Income from Operations1 up $52 million or 6.6% from Q1 2025

• During the quarter ended March 31, 2026, revenues increased by $298 million as compared to the quarter ended March 31, 2025, representing growth of 5.8%, or 3.9% on a constant currency1 basis. Revenue growth was positively impacted by the ramp up of several recently won large deals and increasing de…

• Our GAAP operating margin and Adjusted Operating Margin1 were both 15.6% for the quarter ended March 31, 2026, as there were no adjustments for unusual items to report in our calculation of Adjusted Operating Margin for that period. Our GAAP operating margin and Adjusted Operating Margin were 16.7% …

Text added vs the prior filing · source: 10-Q · 2026-07-29

• During the three months ended June 30, 2026, we borrowed $1,000 million under our revolving credit facility. The borrowing did not have a material impact on our exposure to market risk from changes in interest rates. Aside from the borrowing, there have been no material changes in our quantitative a…

• disclosed in "Part II, Item 7A, Quantitative and Qualitative Disclosures about Market Risk" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• There have been no material changes in our quantitative and qualitative disclosures about market risk from those disclosed in "Part II, Item 7A, Quantitative and Qualitative Disclosures about Market Risk" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

Text added vs the prior filing · source: 10-Q · 2026-07-29

• No director or Section 16 officer adopted or terminated any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements (in each case, as defined in Item 408(a) of Regulation S-K) during the three months ended June 30, 2026, except as follows:

• Chief Legal Officer, Chief Administrative Officer and Corporate Secretary

• (1) The trading plan may also expire on such earlier date as all transactions under the trading plan are completed.

• Each of the trading arrangements listed in the above table is intended to satisfy the affirmative defense conditions of Rule 10b5-1.

Text removed vs the prior filing · source: 10-Q · 2026-04-29

• On April 29, 2026, we committed to Project Leap described in Part I, Item 2 – Management’s Discussion and Analysis of Financial Condition and Results of Operations – Executive Summary – Business Outlook (“Business Outlook”). Project Leap is a program designed to accelerate our transformation to the …

• No director or Section 16 officer adopted or terminated any Rule 10b5-1 trading arrangements or non-Rule 10b5-1 trading arrangements (in each case, as defined in Item 408(a) of Regulation S-K) during the three months ended March 31, 2026.