- Revenues of $16.2 billion, an increase of 3% in U.S. dollars
and 1% in local currency
- GAAP operating margin of 15.8%, compared to 16.5% in the
first quarter of fiscal 2023; adjusted1 operating margin of 16.7%,
an expansion of 20 basis points
- GAAP EPS of $3.10, an increase of 1% over the first quarter
of fiscal 2023; adjusted EPS of $3.27, an increase of 6%
- New bookings of $18.4 billion, an increase of 14% in U.S.
dollars and 12% in local currency
- Quarterly cash dividend of $1.29 per share, an increase of
15%
- Accenture confirms business outlook for fiscal 2024;
continues to expect revenue growth of 2% to 5% in local currency;
GAAP EPS of $11.41 to $11.76, a 6% to 9% increase; and adjusted EPS
of $11.97 to $12.32, a 3% to 6% increase
Accenture (NYSE: ACN) reported financial results for the first
quarter of fiscal 2024 ended November 30, 2023.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20231219913711/en/
Q1 FY24 Earnings Infographic (Graphic:
Business Wire)
Julie Sweet, chair and CEO, Accenture, said, “I am pleased that
we delivered on our commitments this quarter while strategically
investing at scale for future growth. Our deep and trusted client
relationships are again reflected in the 30 clients with quarterly
bookings of more than $100 million. And we continue to lead our
industry in Gen AI – the great accelerator of reinvention – with
over $450 million in new bookings. I am incredibly grateful to the
743,000 people of Accenture, who are steadfastly dedicated to
helping our clients achieve their ambition to grow and thrive in
the years ahead.”
Revenues were $16.2 billion, an increase of 3% in U.S. dollars
and 1% in local currency over the first quarter of fiscal 2023.
GAAP operating income was $2.56 billion, compared to $2.59
billion for the first quarter of fiscal 2023, and operating margin
was 15.8% compared to 16.5% for the first quarter last year.
Adjusted operating income was $2.70 billion and adjusted operating
margin was 16.7%, an expansion of 20 basis points from the first
quarter of fiscal 2023.
GAAP diluted earnings per share were $3.10, compared to $3.08
for the first quarter of fiscal 2023. Adjusted EPS were $3.27, an
increase of 6% from the first quarter of fiscal 2023.
New bookings for the quarter were $18.4 billion, with consulting
bookings of $8.6 billion and managed services bookings of $9.8
billion.
1Adjusted financial measures presented in
this release are non-GAAP financial measures that exclude business
optimization costs, as further described in this release.
Financial Review
Revenues for the first quarter of fiscal 2024 were $16.22
billion, compared with $15.75 billion for the first quarter of
fiscal 2023, an increase of 3% in U.S. dollars and 1% in local
currency.
Revenues for the quarter reflect a foreign-exchange impact of
approximately positive 1.5% compared with the positive 2.5% impact
previously assumed. Adjusting for the actual foreign-exchange
impact, the company’s guided range for quarterly revenues was
approximately $15.70 billion to $16.30 billion. Accenture’s first
quarter fiscal 2024 revenues were at the top end of this adjusted
range.
- Consulting revenues for the quarter were $8.46 billion, flat in
U.S. dollars and a decrease of 2% in local currency compared with
the first quarter of fiscal 2023.
- Managed Services revenues for the quarter were $7.77 billion,
an increase of 6% in U.S. dollars and 5% in local currency compared
with the first quarter of fiscal 2023.
GAAP diluted EPS for the quarter were $3.10 compared with $3.08
for the first quarter of fiscal 2023. Excluding a $0.17 decrease
for business optimization costs, adjusted EPS were $3.27, an
increase of 6% from the first quarter of fiscal 2023. The $0.19
increase in EPS on an adjusted basis reflects:
- a $0.14 increase from higher revenue and operating
results;
- a $0.05 increase from higher non-operating income; and
- a $0.01 increase from lower share count;
partially offset by
- a $0.01 decrease from higher noncontrolling interests.
Gross margin (gross profit as a percentage of revenues) for the
quarter was 33.6% compared to 32.9% in the first quarter of fiscal
2023. Selling, general and administrative (SG&A) expenses for
the quarter were $2.74 billion, or 16.9% of revenues, compared with
$2.59 billion, or 16.5% of revenues, for the first quarter of
fiscal 2023.
GAAP operating income for the quarter decreased 1%, to $2.56
billion, or 15.8% of revenues, compared with $2.59 billion, or
16.5% of revenues, for the first quarter of fiscal 2023. Adjusted
operating income for the quarter was $2.70 billion, or 16.7% of
revenues, an expansion of 20 basis points from the first quarter of
fiscal 2023.
The company’s GAAP effective tax rate for the quarter was 23.2%,
compared with 23.3% for the first quarter of fiscal 2023.
GAAP net income for the quarter was $2.01 billion, compared with
$2.00 billion for the first quarter of fiscal 2023. Adjusted net
income for the quarter was $2.12 billion.
Operating cash flow for the quarter was $499 million, and
property and equipment additions were $69 million. Free cash flow,
defined as operating cash flow net of property and equipment
additions, was $430 million. For the same period last year,
operating cash flow was $495 million; property and equipment
additions were $99 million; and free cash flow was $397
million.
Days services outstanding, or DSOs, were 49 days at November 30,
2023, compared with 42 days at August 31, 2023 and 48 days at
November 30, 2022.
Accenture’s total cash balance at November 30, 2023 was $7.1
billion, compared with $9.0 billion at August 31, 2023.
New Bookings
New bookings for the first quarter of fiscal 2024 were $18.45
billion, a 14% increase in U.S. dollars and a 12% increase in local
currency over the first quarter of fiscal 2023.
- Consulting new bookings were $8.62 billion, or 47% of total new
bookings.
- Managed Services new bookings were $9.83 billion, or 53% of
total new bookings.
Revenues by Geographic Market2
Revenues by geographic market were as follows:
- North America: $7.56 billion, a decrease of 1% in both U.S.
dollars and local currency compared with the first quarter of
fiscal 2023.
- EMEA: $5.80 billion, an increase of 9% in U.S. dollars and 2%
in local currency compared with the first quarter of fiscal
2023.
- Growth Markets: $2.86 billion, an increase of 2% in U.S.
dollars and 5% in local currency compared with the first quarter of
fiscal 2023.
Revenues by Industry Group
Revenues by industry group were as follows:
- Communications, Media & Technology: $2.67 billion, a
decrease of 10% in U.S. dollars and 11% in local currency compared
with the first quarter of fiscal 2023.
- Financial Services: $3.03 billion, an increase of 2% in U.S.
dollars and flat in local currency compared with the first quarter
of fiscal 2023.
- Health & Public Service: $3.38 billion, an increase of 13%
in U.S. dollars and 12% in local currency compared with the first
quarter of fiscal 2023.
- Products: $4.86 billion, an increase of 4% in U.S. dollars and
1% in local currency compared with the first quarter of fiscal
2023.
- Resources: $2.28 billion, an increase of 7% in U.S. dollars and
6% in local currency compared with the first quarter of fiscal
2023.
Returning Cash to
Shareholders
Accenture continues to return cash to shareholders through cash
dividends and share repurchases.
2Effective 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.
Dividend
On November 15, 2023, a quarterly cash dividend of $1.29 per
share was paid to shareholders of record at the close of business
on October 12, 2023. These cash dividend payments totaled $810
million.
Accenture plc has declared another quarterly cash dividend of
$1.29 per share for shareholders of record at the close of business
on January 18, 2024. This dividend, which is payable on February
15, 2024, represents a 15% increase over the quarterly dividend
rate of $1.12 per share in fiscal 2023.
Share Repurchase Activity
During the first quarter of fiscal 2024, Accenture repurchased
or redeemed 3.8 million shares for a total of $1.2 billion,
including approximately 3.4 million shares repurchased in the open
market.
Accenture’s total remaining share repurchase authority at
November 30, 2023 was approximately $5.4 billion.
At November 30, 2023, Accenture had approximately 628 million
total shares outstanding.
Business Outlook
Second Quarter Fiscal 2024
Accenture expects revenues for the second quarter of fiscal 2024
to be in the range of $15.40 billion to $16.00 billion, or negative
2% to 2% in local currency, reflecting the company’s assumption of
a negative 0.5% foreign-exchange impact compared with the second
quarter of fiscal 2023.
Fiscal Year 2024
Accenture’s business outlook for fiscal 2024 continues to assume
that the foreign-exchange impact on its results in U.S. dollars
will be flat compared with fiscal 2023.
For fiscal 2024, the company continues to expect revenue growth
to be in the range of 2% to 5% in local currency.
Accenture continues to expect GAAP operating margin for fiscal
2024 to be in the range of 14.8% to 15.0%, an expansion of 110 to
130 basis points from fiscal 2023, and adjusted operating margin,
which excludes an estimated $450 million for business optimization
costs in fiscal 2024 and $1.1 billion in fiscal 2023, to be in the
range of 15.5% to 15.7%, an expansion of 10 to 30 basis points from
fiscal 2023.
The company continues to expect both its GAAP and adjusted
annual effective tax rate, which excludes the tax impacts of
business optimization costs, to be in the range of 23.5% to
25.5%.
The company continues to expect GAAP diluted EPS to be in the
range of $11.41 to $11.76, an increase of 6% to 9% over fiscal
2023, and adjusted EPS to be in the range of $11.97 to $12.32, an
increase of 3% to 6% over fiscal 2023. This excludes $0.56 for
business optimization costs in fiscal 2024 and $1.28 for business
optimization costs and $0.38 for a gain on an investment in fiscal
2023.
For fiscal 2024, the company continues to expect operating cash
flow to be in the range of $9.3 billion to $9.9 billion; property
and equipment additions to be $600 million; and free cash flow to
be in the range of $8.7 billion to $9.3 billion.
The company continues to expect to return at least $7.7 billion
in cash to shareholders through dividends and share
repurchases.
360° Value Reporting
Accenture’s goal is to create 360° value for our clients,
people, shareholders, partners and communities. Our reporting
captures how we deliver unique value across six vital dimensions
and offers a comprehensive view of our financial and environmental,
social and governance (ESG) measures, and our goals, progress and
performance for each. Our full 360° Value Report and online 360°
Value Reporting Experience provide customizable reporting. To
access, please visit the Accenture 360° Value Reporting Experience
at www.accenture.com/reportingexperience.
Conference Call and Webcast
Details
Accenture will host a conference call at 8:00 a.m. EST today to
discuss its first quarter fiscal 2024 financial results. To
participate, please dial +1 (877) 692-8955 [or +1 (234) 720-6979
outside the U.S., Puerto Rico and Canada] and enter access code
4466414 approximately 15 minutes before the scheduled start of the
call. The conference call will also be accessible live on the
Investor Relations section of the Accenture website at
www.accenture.com.
A replay of the conference call will be available at
www.accenture.com, and at +1 (866) 207-1041 [or +1 (402) 970-0847
outside the U.S., Puerto Rico and Canada] with access code 2507165,
from 11:00 a.m. EST today, through Wednesday, March 20, 2024.
About Accenture
Accenture is a leading global professional services company that
helps 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. We are a talent- and
innovation-led company with 743,000 people serving clients in more
than 120 countries. Technology is at the core of change today, and
we are one of the world’s leaders in helping drive that change,
with strong ecosystem relationships. We combine our strength in
technology and leadership in cloud, data and AI with unmatched
industry experience, functional expertise and global delivery
capability. We are uniquely able to deliver tangible outcomes
because of our broad range of services, solutions and assets across
Strategy & Consulting, Technology, Operations, Industry X and
Song. These capabilities, together with our culture of shared
success and commitment to creating 360° value, enable us to help
our clients reinvent and build trusted, lasting relationships. We
measure our success by the 360° value we create for our clients,
each other, our shareholders, partners and communities.
Non-GAAP Financial
Information
This news release includes certain non-GAAP financial
information as defined by Securities and Exchange Commission
Regulation G. Pursuant to the requirements of this regulation,
reconciliations of this non-GAAP financial information to
Accenture’s financial statements as prepared under generally
accepted accounting principles (GAAP) are included in this press
release. 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.
Accenture’s management believes providing investors with this
information gives additional insights into Accenture’s results of
operations. While Accenture’s management believes that the non-GAAP
financial measures herein are useful in evaluating Accenture’s
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. Accenture provides
full-year revenue guidance on a local-currency basis and not in
U.S. dollars because the impact of foreign exchange rate
fluctuations could vary significantly from the company’s stated
assumptions.
Forward-Looking
Statements
Except for the historical information and discussions contained
herein, statements in this news release may constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. 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 nor promises
that goals or targets will be met, and involve a number of risks,
uncertainties and other factors that are difficult to predict and
could cause actual results to differ materially from those
expressed or implied. These risks include, without limitation,
risks that: Accenture’s 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 the company’s clients’ businesses and levels of
business activity; Accenture’s business depends on generating and
maintaining client demand for the company’s services and solutions
including through the adaptation and expansion of its 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 the company’s results of operations; if
Accenture is unable to match people and their skills with client
demand around the world and attract and retain professionals with
strong leadership skills, the company’s business, the utilization
rate of the company’s professionals and the company’s results of
operations may be materially adversely affected; Accenture faces
legal, reputational and financial risks from any failure to protect
client and/or company data from security incidents or cyberattacks;
the markets in which Accenture operates are highly competitive, and
Accenture might not be able to compete effectively; Accenture’s
ability to attract and retain business and employees may depend on
its reputation in the marketplace; if Accenture does not
successfully manage and develop its relationships with key
ecosystem partners or fails to anticipate and establish new
alliances in new technologies, the company’s results of operations
could be adversely affected; Accenture’s profitability could
materially suffer if the company is unable to obtain favorable
pricing for its services and solutions, if the company is unable to
remain competitive, if its cost-management strategies are
unsuccessful or if it experiences delivery inefficiencies or fail
to satisfy certain agreed-upon targets or specific service levels;
changes in Accenture’s 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 the company’s effective tax rate, results of operations,
cash flows and financial condition; Accenture’s 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 Accenture makes in connection
with the preparation of its consolidated financial statements could
adversely affect its financial results; as a result of Accenture’s
geographically diverse operations and strategy to continue to grow
in key markets around the world, the company is more susceptible to
certain risks; if Accenture is unable to manage the organizational
challenges associated with its size, the company might be unable to
achieve its business objectives; Accenture might not be successful
at acquiring, investing in or integrating businesses, entering into
joint ventures or divesting businesses; Accenture’s business could
be materially adversely affected if the company incurs legal
liability; Accenture’s global operations expose the company to
numerous and sometimes conflicting legal and regulatory
requirements; Accenture’s work with government clients exposes the
company to additional risks inherent in the government contracting
environment; if Accenture is unable to protect or enforce its
intellectual property rights or if Accenture’s services or
solutions infringe upon the intellectual property rights of others
or the company loses its ability to utilize the intellectual
property of others, its business could be adversely affected;
Accenture may be subject to criticism and negative publicity
related to its incorporation in Ireland; as well as the risks,
uncertainties and other factors discussed under the “Risk Factors”
heading in Accenture plc’s most recent Annual Report on Form 10-K
and other documents filed with or furnished to the Securities and
Exchange Commission. Statements in this news release speak only as
of the date they were made, and Accenture undertakes no duty to
update any forward-looking statements made in this news release or
to conform such statements to actual results or changes in
Accenture’s expectations.
Accenture plc Consolidated Income Statements (In
thousands of U.S. dollars, except share and per share amounts)
(Unaudited)
Three Months Ended
November 30, 2023
% of Revenues
November 30, 2022
% of Revenues
REVENUES:
Revenues
$
16,224,303
100.0
%
$
15,747,802
100.0
%
OPERATING EXPENSES:
Cost of services
10,776,362
66.4
%
10,561,660
67.1
%
Sales and marketing
1,709,891
10.5
%
1,550,019
9.8
%
General and administrative costs
1,033,499
6.4
%
1,043,023
6.6
%
Business optimization costs
139,664
0.9
%
—
—
%
Total operating expenses
13,659,416
13,154,702
OPERATING INCOME
2,564,887
15.8
%
2,593,100
16.5
%
Interest income
101,980
44,705
Interest expense
(14,495
)
(7,280
)
Other income (expense), net
(35,719
)
(28,907
)
INCOME BEFORE INCOME TAXES
2,616,653
16.1
%
2,601,618
16.5
%
Income tax expense
606,672
605,318
NET INCOME
2,009,981
12.4
%
1,996,300
12.7
%
Net income attributable to noncontrolling
interest in Accenture Canada Holdings Inc.
(2,016
)
(2,085
)
Net income attributable to noncontrolling
interests – other (1)
(34,521
)
(29,265
)
NET INCOME ATTRIBUTABLE TO ACCENTURE
PLC
$
1,973,444
12.2
%
$
1,964,950
12.5
%
CALCULATION OF EARNINGS PER
SHARE:
Net income attributable to Accenture
plc
$
1,973,444
$
1,964,950
Net income attributable to noncontrolling
interest in Accenture Canada Holdings Inc. (2)
2,016
2,085
Net income for diluted earnings per
share calculation
$
1,975,460
$
1,967,035
WEIGHTED AVERAGE SHARES:
Basic
627,996,111
630,137,262
Diluted
637,398,361
638,766,821
EARNINGS PER SHARE:
Basic
$
3.14
$
3.12
Diluted
$
3.10
$
3.08
Cash dividends per share
$
1.29
$
1.12
(1)
Comprised primarily of noncontrolling
interest attributable to the noncontrolling shareholders of
Avanade, Inc.
(2)
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.
Accenture plc Summary of Revenues (In thousands of
U.S. dollars) (Unaudited)
Three Months Ended
Percent Increase
(Decrease) U.S. Dollars
Percent Increase
(Decrease) Local Currency
November 30, 2023
November 30, 2022
GEOGRAPHIC MARKETS (1)
North America
$
7,562,902
$
7,622,820
(1)
(1)
EMEA
5,803,642
5,312,899
9
2
Growth Markets
2,857,759
2,812,083
2
5
Total Revenues
$
16,224,303
$
15,747,802
3%
1%
INDUSTRY GROUPS
Communications, Media & Technology
$
2,669,448
$
2,980,203
(10)%
(11)%
Financial Services
3,033,578
2,963,396
2
—
Health & Public Service
3,377,466
3,000,019
13
12
Products
4,859,987
4,665,788
4
1
Resources
2,283,824
2,138,396
7
6
Total Revenues
$
16,224,303
$
15,747,802
3%
1%
TYPE OF WORK
Consulting
$
8,456,506
$
8,444,367
—%
(2)%
Managed Services
7,767,797
7,303,435
6
5
Total Revenues
$
16,224,303
$
15,747,802
3%
1%
(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 plc Operating Income by Geographic
Market (In thousands of U.S. dollars) (Unaudited)
Three Months Ended
November 30, 2023
November 30, 2022
Operating
Income
Operating
Margin
Operating
Income
Operating
Margin
Increase (Decrease)
North America
$
1,256,708
17
%
$
1,309,883
17
%
$
(53,175
)
EMEA (1)
823,601
14
726,883
14
96,718
Growth Markets (1)
484,578
17
556,334
20
(71,756
)
Total Operating Income
$
2,564,887
15.8
%
$
2,593,100
16.5
%
$
(28,213
)
(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 plc Reconciliation of Operating Income
(GAAP) to Operating Income As Adjusted (Non-GAAP) (In thousands
of U.S. dollars) (Unaudited)
Three Months Ended
November 30, 2023
November 30, 2022
As Reported (GAAP)
Business Optimization
(1)
Adjusted (Non-GAAP)
Operating Margin
(Non-GAAP)
As Reported
(GAAP)
Operating Margin
(GAAP)
Increase (Decrease)
North America
$
1,256,708
$
45,929
$
1,302,637
17
%
$
1,309,883
17
%
$
(7,246
)
EMEA (2)
823,601
70,804
894,405
15
726,883
14
167,522
Growth Markets (2)
484,578
22,931
507,509
18
556,334
20
(48,825
)
Total Operating Income
$
2,564,887
$
139,664
$
2,704,551
16.7
%
$
2,593,100
16.5
%
$
111,451
(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.
Accenture plc Reconciliation of Net Income and
Diluted Earnings Per Share, as Reported (GAAP), to Net Income and
Diluted Earnings Per Share, as Adjusted (Non-GAAP) (In
thousands of U.S. dollars, except per share amounts)
(Unaudited)
Three Months Ended
November 30, 2023
November 30, 2022
As Reported (GAAP)
Business Optimization
(1)
Adjusted (Non-GAAP)
As Reported (GAAP)
Operating Income
$
2,564,887
$
139,664
$
2,704,551
$
2,593,100
Operating Margin
15.8
%
0.9
%
16.7
%
16.5
%
Income before income taxes
2,616,653
139,664
2,756,317
2,601,618
Income tax expense
606,672
33,978
640,650
605,318
Net Income
$
2,009,981
$
105,686
$
2,115,667
$
1,996,300
Effective tax rate
23.2
%
24.3
%
23.2
%
23.3
%
Diluted earnings per share
$
3.10
$
0.17
$
3.27
$
3.08
(1)
Costs recorded in connection with our
business optimization initiatives, primarily for employee
severance.
Accenture plc Consolidated Balance Sheets
(In thousands of U.S. dollars)
November 30, 2023
August 31, 2023
ASSETS
(Unaudited)
CURRENT ASSETS:
Cash and cash equivalents
$
7,140,841
$
9,045,032
Short-term investments
4,597
4,575
Receivables and contract assets
13,241,359
12,227,186
Other current assets
2,668,779
2,105,138
Total current assets
23,055,576
23,381,931
NON-CURRENT ASSETS:
Contract assets
121,563
106,994
Investments
198,074
197,443
Property and equipment, net
1,467,896
1,530,007
Lease assets
2,576,198
2,637,479
Goodwill
16,236,442
15,573,003
Other non-current assets
7,875,605
7,818,448
Total non-current assets
28,475,778
27,863,374
TOTAL ASSETS
$
51,531,354
$
51,245,305
LIABILITIES AND SHAREHOLDERS’
EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt and bank
borrowings
$
104,819
$
104,810
Accounts payable
2,574,700
2,491,173
Deferred revenues
4,459,593
4,907,152
Accrued payroll and related benefits
7,260,479
7,506,030
Lease liabilities
683,628
690,417
Other accrued liabilities
2,197,019
2,309,456
Total current liabilities
17,280,238
18,009,038
NON-CURRENT LIABILITIES:
Long-term debt
42,309
43,093
Lease liabilities
2,249,466
2,310,714
Other non-current liabilities
4,473,904
4,423,867
Total non-current liabilities
6,765,679
6,777,674
Total Accenture plc shareholders’
equity
26,676,751
25,692,839
Noncontrolling interests
808,686
765,754
Total shareholders’ equity
27,485,437
26,458,593
TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY
$
51,531,354
$
51,245,305
Accenture plc Consolidated Cash Flows Statements
(In thousands of U.S. dollars) (Unaudited)
Three Months Ended
November 30, 2023
November 30, 2022
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income
$
2,009,981
$
1,996,300
Depreciation, amortization and other
521,400
506,229
Share-based compensation expense
423,000
425,469
Change in assets and liabilities/other,
net
(2,455,830
)
(2,432,600
)
Net cash provided by (used in)
operating activities
498,551
495,398
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchases of property and equipment
(68,933
)
(98,830
)
Purchases of businesses and investments,
net of cash acquired
(788,025
)
(686,460
)
Proceeds from the sale of businesses and
investments
—
596
Other investing, net
1,528
2,620
Net cash provided by (used in)
investing activities
(855,430
)
(782,074
)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Proceeds from issuance of ordinary
shares
477,434
465,707
Purchases of shares
(1,191,128
)
(1,418,702
)
Cash dividends paid
(810,056
)
(705,567
)
Other financing, net
(28,163
)
(18,298
)
Net cash provided by (used in)
financing activities
(1,551,913
)
(1,676,860
)
Effect of exchange rate changes on cash
and cash equivalents
4,601
(26,594
)
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS
(1,904,191
)
(1,990,130
)
CASH AND CASH EQUIVALENTS,
beginning of period
9,045,032
7,889,833
CASH AND CASH EQUIVALENTS, end of
period
$
7,140,841
$
5,899,703
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231219913711/en/
Rachel Frey Accenture Media Relations +1 917 452 4421
rachel.frey@accenture.com
Katie O’Conor Accenture Investor Relations +1 973 301 3275
catherine.m.oconor@accenture.com
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