EPAM Systems Inc. (EPAM) Financial Statements (2024 and earlier)

Company Profile

Business Address 41 UNIVERSITY DRIVE
NEWTOWN, PA 18940
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 7371 - Computer Programming Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in millions)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,0971,7421,4471,382937771
Cash and cash equivalents2,0361,6811,4471,322937771
Short-term investments6160 60  
Restricted cash and investments50    
Receivables      402
Other undisclosed current assets9891,01882353153826
Total current assets:3,0912,7602,2691,9131,4741,199
Noncurrent Assets
Operating lease, right-of-use asset135149185229239
Property, plant and equipment235273236170165103
Intangible assets, net (including goodwill)634607632264251224
Goodwill562529531212195167
Intangible assets, net (excluding goodwill)7178101525657
Deferred income tax assets19817314492 
Other noncurrent assets604857543916
Deferred tax assets, net70
Other undisclosed noncurrent assets     75 
Total noncurrent assets:1,2611,2501,254809770413
TOTAL ASSETS:4,3524,0093,5232,7212,2441,612
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities531603598352286173
Taxes payable2721968
Employee-related liabilities50329523098
Accounts payable3231251087
Accrued liabilities499572432739 
Debt  316 58 
Deferred compensation liability      10
Business combination, contingent consideration, liability 10189110 
Due to related parties    50
Other undisclosed current liabilities1041241401133330
Total current liabilities:645747763466387263
Noncurrent Liabilities
Long-term debt and lease obligation, including:2628173252525
Long-term debt, excluding current maturities262830   
Other undisclosed long-term debt and lease obligation    (156)(156)25
Liabilities, other than long-term debt21023191675561
Accounts payable and accrued liabilities   42434644
Other liabilities1011094823918
Operating lease, liability109122143181181
Other undisclosed noncurrent liabilities    181181 
Total noncurrent liabilities:23625926427226186
Total liabilities:8811,0061,027738648349
Equity
Equity, attributable to parent3,4713,0022,4871,9831,5961,263
Common stock000000
Treasury stock, value  (0)(0)(0)(0)(0)
Additional paid in capital1,009848712661607545
Accumulated other comprehensive loss(39)(95)(54)(26)(31)(42)
Retained earnings2,5012,2491,8301,3481,021760
Equity, attributable to noncontrolling interest119   
Total equity:3,4713,0032,4961,9831,5961,263
TOTAL LIABILITIES AND EQUITY:4,3524,0093,5232,7212,2441,612

Income Statement (P&L) ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues4,6914,8253,7582,6592,2941,843
Cost of revenue(3,257)(3,287)(2,484)(1,733)(1,488)(1,187)
Gross profit:1,4341,5381,274927806656
Operating expenses(933)(965)(732)(548)(503)(410)
Operating income:501573542379303246
Nonoperating income (expense)35(66)(9)(1)(3)4
Investment income, nonoperating5110(2)494
Gain (loss), foreign currency transaction, before tax(16)(76)(7)(5)(12)0
Income from continuing operations before income taxes:537507533378300250
Income tax expense(120)(88)(52)(51)(38)(10)
Income from continuing operations:417419482327261240
Income before gain (loss) on sale of properties:482327261240
Net income available to common stockholders, diluted:417419482327261240

Comprehensive Income ($ in millions)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:417419482327261240
Other comprehensive loss      
Comprehensive income:417419482327261240
Other undisclosed comprehensive income (loss), net of tax, attributable to parent56(41)(29)610(24)
Comprehensive income, net of tax, attributable to parent:473378453333271216

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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