-- Revenues are $16.2 billion, an increase of
22% in U.S. dollars and 27% in local currency --
-- Operating income increases 23% to $2.6
billion, with operating margin of 16.1%, an expansion of 10 basis
points --
-- New bookings are $17.0 billion, the
company’s second-highest ever, a 10% increase in U.S. dollars and
15% in local currency --
-- EPS are $2.79, a 16% increase including a
$0.15 or 6% negative impact related to the disposition of Russia
business --
-- Company declares quarterly cash dividend of
$0.97 per share, up 10% from a year ago --
-- Accenture updates business outlook for
fiscal 2022; raises full-year revenue growth to 25.5% to 26.5% in
local currency; continues to expect operating margin of 15.2% and
free cash flow of $8.0 billion to $8.5 billion; updates EPS to
$10.61 to $10.70; and now expects foreign-exchange impact of
negative 4.5% --
Accenture (NYSE: ACN) reported financial results for the third
quarter of fiscal 2022, ended May 31, 2022, with revenues of $16.2
billion, an increase of 22% in U.S. dollars and 27% in local
currency over the same period last year.
This press release features multimedia. View
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3QFY22 Earnings Infographic (Photo:
Business Wire)
Operating income was $2.6 billion, a 23% increase over the same
period last year, and operating margin was 16.1%, an expansion of
10 basis points.
New bookings for the quarter were $17.0 billion, a 10% increase
in U.S. dollars and 15% in local currency from the third quarter
last year, with consulting bookings of $9.1 billion and outsourcing
bookings of $7.8 billion.
Diluted earnings per share were $2.79, a 16% increase from $2.40
for the third quarter last year, and include a $96 million, or
$0.15 per share, charge related to the disposition of the company’s
business in Russia.
Julie Sweet, Accenture’s Chair & CEO, said, “Our very strong
financial results for the third quarter reflect continued
broad-based demand across markets, services, and industries, and
the continued recognition of the outstanding talent of our 710,000
people. We continue to gain significant market share, and our
services have never been more relevant as our clients turn to us as
the trusted partner for the solutions they need to accelerate
growth and become more resilient and efficient.”
Financial Review
Revenues for the third quarter of fiscal 2022 were $16.16
billion, compared with $13.26 billion for the third quarter of
fiscal 2021, an increase of 22% in U.S. dollars and 27% in local
currency. Revenues for the quarter reflect a foreign-exchange
impact of approximately negative 5%, compared with the negative 4%
impact previously assumed. Adjusting for the actual
foreign-exchange impact, the company’s guided range for quarterly
revenues was approximately $15.55 billion to $16.0 billion.
Accenture’s third-quarter fiscal 2022 revenues were approximately
$160 million above this adjusted range.
- Consulting revenues for the quarter were $9.03 billion, an
increase of 24% in U.S. dollars and 30% in local currency compared
with the third quarter of fiscal 2021.
- Outsourcing revenues were $7.13 billion, an increase of 19% in
U.S. dollars and 23% in local currency compared with the third
quarter of fiscal 2021.
Diluted EPS for the quarter were $2.79, a 16% increase from
$2.40 for the third quarter last year. The $0.39 increase in EPS
reflects:
- a $0.56 increase from higher revenue and operating
results;
- a $0.02 increase from lower share count; and
- a $0.01 increase from lower interest and other non-operating
expense;
partially offset by
- a $0.15 decrease from the loss on the disposition of the
company’s business in Russia;
- a $0.04 decrease from a higher effective tax rate; and
- a $0.01 decrease from higher non-controlling interest.
Gross margin (gross profit as a percentage of revenues) for the
quarter was 32.9%, compared with 33.2% for the third quarter last
year. Selling, general and administrative (SG&A) expenses for
the quarter were $2.71 billion, or 16.8% of revenues, compared with
$2.29 billion, or 17.2% of revenues, for the third quarter last
year.
Operating income for the quarter increased 23%, to $2.60
billion, or 16.1% of revenues, compared with $2.12 billion, or
16.0% of revenues, for the third quarter of fiscal 2021.
The company’s effective tax rate for the quarter was 27.1%,
compared with 25.0% for the third quarter of last year.
Net income for the quarter was $1.82 billion, a 16% increase
from $1.57 billion for the third quarter last year.
Operating cash flow for the quarter was $3.06 billion, and
property and equipment additions were $195 million. Free cash flow,
defined as operating cash flow net of property and equipment
additions, was $2.87 billion. For the same period last year,
operating cash flow was $2.40 billion; property and equipment
additions were $158 million; and free cash flow was $2.24
billion.
Days services outstanding, or DSOs, were 44 days at May 31,
2022, compared with 38 days at Aug. 31, 2021 and 36 days at May 31,
2021.
Accenture’s total cash balance at May 31, 2022 was $6.70
billion, compared with $8.17 billion at Aug. 31, 2021.
New Bookings
New bookings for the third quarter were $17.0 billion, an
increase of 10% in U.S. dollars and 15% in local currency from the
third quarter last year.
- Consulting new bookings were $9.1 billion, or 54% of total new
bookings.
- Outsourcing new bookings were $7.8 billion, or 46% of total new
bookings.
Revenues by Geographic Market
Revenues by geographic market were as follows:
- North America: $7.61 billion, an increase of 23% in both U.S.
dollars and in local currency compared with the third quarter of
fiscal 2021.
- Europe: $5.35 billion, an increase of 20% in U.S. dollars and
30% in local currency compared with the third quarter of fiscal
2021.
- Growth Markets: $3.19 billion, an increase of 22% in U.S.
dollars and 30% in local currency compared with the third quarter
of fiscal 2021.
Revenues by Industry Group
Revenues by industry group were as follows:
- Communications, Media & Technology: $3.43 billion, an
increase of 27% in U.S. dollars and 31% in local currency compared
with the third quarter of fiscal 2021.
- Financial Services: $3.08 billion, an increase of 19% in U.S.
dollars and 24% in local currency compared with the third quarter
of fiscal 2021.
- Health & Public Service: $2.92 billion, an increase of 16%
in U.S. dollars and 19% in local currency compared with the third
quarter of fiscal 2021.
- Products: $4.60 billion, an increase of 25% in U.S. dollars and
31% in local currency compared with the third quarter of fiscal
2021.
- Resources: $2.13 billion, an increase of 21% in U.S. dollars
and 26% in local currency compared with the third quarter of fiscal
2021.
Returning Cash to
Shareholders
Accenture continues to return cash to shareholders through cash
dividends and share repurchases.
Dividend
On May 13, 2022, a quarterly cash dividend of $0.97 per share
was paid to shareholders of record at the close of business on
April 14, 2022. These cash dividend payments totaled $614 million,
bringing dividend payments for the year to date to $1.84
billion.
Accenture plc has declared another quarterly cash dividend of
$0.97 per share for shareholders of record at the close of business
on July 14, 2022. This dividend, which is payable on Aug. 15,
represents a 10% increase over the quarterly dividend rate of $0.88
per share in fiscal 2021.
Share Repurchase Activity
During the third quarter of fiscal 2022, Accenture repurchased
or redeemed 3.1 million shares for a total of $972 million,
including approximately 2.9 million shares repurchased in the open
market. This brings Accenture’s total share repurchases and
redemptions for the first three quarters of fiscal 2022 to 10.1
million shares for a total of $3.51 billion, including
approximately 7.7 million shares repurchased in the open
market.
Accenture’s total remaining share repurchase authority at May
31, 2022 was approximately $3.7 billion.
At May 31, 2022, Accenture had approximately 633 million total
shares outstanding.
Business Outlook
Fourth Quarter Fiscal 2022
Accenture expects revenues for the fourth quarter of fiscal 2022
to be in the range of $15.0 billion to $15.5 billion, 20% to 24%
growth in local currency, reflecting the company’s assumption of a
negative 8% foreign-exchange impact compared with the fourth
quarter of fiscal 2021.
Fiscal Year 2022
Accenture’s business outlook for the full 2022 fiscal year now
assumes that the foreign-exchange impact on its results in U.S.
dollars will be approximately negative 4.5% compared with fiscal
2021; the company previously expected a negative 3%
foreign-exchange impact.
For fiscal 2022, the company now expects revenue growth to be in
the range of 25.5% to 26.5% in local currency, compared with 24% to
26% previously.
Accenture continues to expect operating margin for the full
fiscal year to be 15.2%, an expansion of 10 basis points from
fiscal 2021.
The company now expects its annual effective tax rate to be in
the range of 23.5% to 24.5%, compared with 23% to 25%
previously.
The company now expects diluted EPS to be in the range of $10.61
to $10.70, an increase of 21% to 22% over adjusted FY21 diluted EPS
of $8.80—which exclude gains on an investment of $0.36 from FY21
GAAP diluted EPS of $9.16. The company previously expected fiscal
2022 diluted EPS to be in the range of $10.61 to $10.81.
For fiscal 2022, the company continues to expect operating cash
flow to be in the range of $8.7 billion to $9.2 billion; continues
to expect property and equipment additions to be $700 million; and
continues to expect free cash flow to be in the range of $8.0
billion to $8.5 billion.
The company continues to expect to return at least $6.5 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. To enhance
transparency and provide a comprehensive view for all stakeholders,
we have combined our financial and environmental, social and
governance (ESG) reporting into a digital-first experience. To
access our goals, progress and performance, please visit the
Accenture 360° Value Reporting Experience
(Accenture.com/reportingexperience).
Conference Call and Webcast
Details
Accenture will host a conference call at 8:00 a.m. EDT today to
discuss its third-quarter financial results. To participate, please
dial +1 (877) 692-8955 [+1 (234) 720-6979 outside the United
States, Puerto Rico and Canada] and enter access code 6450548
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 Web site at accenture.com.
A replay of the conference call will be available online at
accenture.com beginning at 11:00 a.m. EDT today, June 23, and
continuing through Wednesday, Sept. 21, 2022. The replay will also
be available via telephone by dialing +1 (866) 207-1041 [+1 (402)
970-0847 outside the United States, Puerto Rico and Canada] and
entering access code 6873244 from 11:00 a.m. EDT Thursday, June 23
through Wednesday, Sept. 21, 2022.
About Accenture
Accenture is a global professional services company with leading
capabilities in digital, cloud and security. Combining unmatched
experience and specialized skills across more than 40 industries,
we offer Strategy and Consulting, Technology and Operations
services and Accenture Song—all powered by the world’s largest
network of Advanced Technology and Intelligent Operations centers.
Our 710,000 people deliver on the promise of technology and human
ingenuity every day, serving clients in more than 120 countries. We
embrace the power of change to create value and shared success for
our clients, people, shareholders, partners and communities. Visit
us at accenture.com.
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,” “expects,” “intends,”
“plans,” “projects,” “believes,” “estimates,” “positioned,”
“outlook” and similar expressions are used to identify these
forward-looking statements. These statements involve a number of
risks, uncertainties and other factors that 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, including the invasion of Ukraine by Russia, the
related sanctions and other measures that have been and continue to
be imposed in response to this conflict, as well as the current
inflationary environment, and the effects of these conditions on
the company’s clients’ businesses and levels of business activity;
Accenture faces legal, reputational and financial risks from any
failure to protect client and/or company data from security
incidents or cyberattacks; Accenture’s business depends on
generating and maintaining ongoing, profitable 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
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; the COVID-19 pandemic has impacted Accenture’s business
and operations, and the extent to which it will continue to do so
and its impact on the company’s future financial results are
uncertain; 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 alliance 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; Accenture might be unable to access additional
capital on favorable terms or at all and if the company raises
equity capital, it may dilute its shareholders’ ownership interest
in the company; as a result of Accenture’s geographically diverse
operations and its growth strategy to continue to expand in its 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’s results of operations and share price could be
adversely affected if it is unable to maintain effective internal
controls; 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
Nine Months Ended
May 31, 2022
% of Revenues
May 31, 2021
% of Revenues
May 31, 2022
% of Revenues
May 31, 2021
% of Revenues
REVENUES:
Revenues
$
16,158,803
100.0
%
$
13,263,795
100.0
%
$
46,170,649
100.0
%
$
37,114,105
100.0
%
OPERATING EXPENSES:
Cost of services
10,844,069
67.1
%
8,859,411
66.8
%
31,415,167
68.0
%
25,216,193
67.9
%
Sales and marketing
1,660,919
10.3
%
1,406,606
10.6
%
4,530,158
9.8
%
3,773,268
10.2
%
General and administrative costs
1,050,697
6.5
%
879,122
6.6
%
3,126,332
6.8
%
2,461,804
6.6
%
Total operating expenses
13,555,685
11,145,139
39,071,657
31,451,265
OPERATING INCOME
2,603,118
16.1
%
2,118,656
16.0
%
7,098,992
15.4
%
5,662,840
15.3
%
Interest income
8,727
4,551
22,046
23,643
Interest expense
(12,050
)
(28,739
)
(34,449
)
(46,515
)
Other income (expense), net
(8,877
)
(467
)
(39,089
)
203,343
Loss on disposition of Russia business
(96,294
)
—
(96,294
)
—
INCOME BEFORE INCOME TAXES
2,494,624
15.4
%
2,094,001
15.8
%
6,951,206
15.1
%
5,843,311
15.7
%
Income tax expense
675,308
524,429
1,654,631
1,290,189
NET INCOME
1,819,316
11.3
%
1,569,572
11.8
%
5,296,575
11.5
%
4,553,122
12.3
%
Net income attributable to noncontrolling
interest in Accenture Canada Holdings Inc.
(1,902
)
(1,699
)
(5,578
)
(5,001
)
Net income attributable to noncontrolling
interests – other (1)
(31,339
)
(18,447
)
(78,956
)
(57,560
)
NET INCOME ATTRIBUTABLE TO ACCENTURE
PLC
$
1,786,075
11.1
%
$
1,549,426
11.7
%
$
5,212,041
11.3
%
$
4,490,561
12.1
%
CALCULATION OF EARNINGS PER
SHARE:
Net income attributable to Accenture
plc
$
1,786,075
$
1,549,426
$
5,212,041
$
4,490,561
Net income attributable to noncontrolling
interest in Accenture Canada Holdings Inc. (2)
1,902
1,699
5,578
5,001
Net income for diluted earnings per
share calculation
$
1,787,977
$
1,551,125
$
5,217,619
$
4,495,562
EARNINGS PER SHARE:
Basic
$
2.82
$
2.44
$
8.23
$
7.07
Diluted
$
2.79
$
2.40
$
8.11
$
6.96
WEIGHTED AVERAGE SHARES:
Basic
632,749,442
635,203,753
632,969,487
635,151,632
Diluted
641,004,741
645,454,021
643,692,440
646,244,001
Cash dividends per share
$
0.97
$
0.88
$
2.91
$
2.64
(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
U.S. Dollars
Percent Increase
Local Currency
May 31, 2022
May 31, 2021
GEOGRAPHIC MARKETS
North America
$
7,613,629
$
6,199,583
23
%
23
%
Europe
5,350,360
4,452,360
20
30
Growth Markets
3,194,814
2,611,852
22
30
Total Revenues
$
16,158,803
$
13,263,795
22
%
27
%
INDUSTRY GROUPS
Communications, Media & Technology
$
3,427,232
$
2,704,260
27
%
31
%
Financial Services
3,079,418
2,597,532
19
24
Health & Public Service
2,917,028
2,519,591
16
19
Products
4,601,473
3,673,963
25
31
Resources
2,133,652
1,768,449
21
26
Total Revenues
$
16,158,803
$
13,263,795
22
%
27
%
TYPE OF WORK
Consulting
$
9,032,484
$
7,260,428
24
%
30
%
Outsourcing
7,126,319
6,003,367
19
23
Total Revenues
$
16,158,803
$
13,263,795
22
%
27
%
Nine Months Ended
Percent Increase
U.S. Dollars
Percent Increase
Local Currency
May 31, 2022
May 31, 2021
GEOGRAPHIC MARKETS
North America
$
21,597,880
$
17,312,514
25
%
25
%
Europe
15,460,313
12,449,811
24
30
Growth Markets
9,112,456
7,351,780
24
30
Total Revenues
$
46,170,649
$
37,114,105
24
%
27
%
INDUSTRY GROUPS
Communications, Media & Technology
$
9,703,579
$
7,518,074
29
%
32
%
Financial Services
8,869,296
7,321,378
21
25
Health & Public Service
8,333,915
6,993,381
19
21
Products
13,212,255
10,220,982
29
33
Resources
6,051,604
5,060,290
20
23
Total Revenues
$
46,170,649
$
37,114,105
24
%
27
%
TYPE OF WORK
Consulting
$
25,747,095
$
20,032,392
29
%
32
%
Outsourcing
20,423,554
17,081,713
20
22
Total Revenues
$
46,170,649
$
37,114,105
24
%
27
%
Accenture plc Operating Income by
Geographic Market
(In thousands of U.S. dollars)
(Unaudited)
Three Months Ended
May 31, 2022
May 31, 2021
Operating
Income
Operating
Margin
Operating
Income
Operating
Margin
Increase
North America
$
1,379,828
18
%
$
1,128,352
18
%
$
251,476
Europe
693,512
13
607,858
14
85,654
Growth Markets
529,778
17
382,446
15
147,332
Total Operating Income
$
2,603,118
16.1
%
$
2,118,656
16.0
%
$
484,462
Nine Months Ended
May 31, 2022
May 31, 2021
Operating
Income
Operating
Margin
Operating
Income
Operating
Margin
Increase
North America
$
3,715,155
17
%
$
2,789,305
16
%
$
925,850
Europe
1,969,997
13
1,740,221
14
229,776
Growth Markets
1,413,840
16
1,133,314
15
280,526
Total Operating Income
$
7,098,992
15.4
%
$
5,662,840
15.3
%
$
1,436,152
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)
Nine Months Ended
May 31, 2022
May 31, 2021
As Reported (GAAP)
As Reported (GAAP)
Investment Gains (1)
Adjusted (Non-GAAP)
Income before income taxes
$
6,951,206
$
5,843,311
$
(271,009
)
$
5,572,302
Income tax expense
1,654,631
1,290,189
(41,440
)
1,248,749
Net Income
$
5,296,575
$
4,553,122
$
(229,569
)
$
4,323,553
Effective tax rate
23.8
%
22.1
%
22.4
%
Diluted earnings per share
$
8.11
$
6.96
$
(0.36
)
$
6.60
Amounts in table may not total due to rounding.
(1)
Represents gains related to our investment
in Duck Creek Technologies.
Accenture plc
Consolidated Balance Sheets
(In thousands of U.S. dollars)
May 31, 2022
August 31, 2021
ASSETS
(Unaudited)
CURRENT ASSETS:
Cash and cash equivalents
$
6,703,568
$
8,168,174
Short-term investments
4,322
4,294
Receivables and contract assets
12,219,074
9,728,212
Other current assets
2,080,776
1,765,831
Total current assets
21,007,740
19,666,511
NON-CURRENT ASSETS:
Contract assets
35,714
38,334
Investments
331,503
329,526
Property and equipment, net
1,665,478
1,639,105
Lease assets
3,178,636
3,182,519
Goodwill
12,499,443
11,125,861
Other non-current assets
7,376,684
7,193,987
Total non-current assets
25,087,458
23,509,332
TOTAL ASSETS
$
46,095,198
$
43,175,843
LIABILITIES AND SHAREHOLDERS’
EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt and bank
borrowings
$
8,768
$
12,080
Accounts payable
2,384,352
2,274,057
Deferred revenues
4,561,147
4,229,177
Accrued payroll and related benefits
7,047,124
6,747,853
Lease liabilities
733,805
744,164
Other accrued liabilities
1,827,396
1,701,536
Total current liabilities
16,562,592
15,708,867
NON-CURRENT LIABILITIES:
Long-term debt
51,546
53,473
Lease liabilities
2,694,489
2,696,917
Other non-current liabilities
4,774,848
4,619,472
Total non-current liabilities
7,520,883
7,369,862
Total Accenture plc shareholders’
equity
21,389,094
19,529,454
Noncontrolling interests
622,629
567,660
Total shareholders’ equity
22,011,723
20,097,114
TOTAL LIABILITIES AND SHAREHOLDERS’
EQUITY
$
46,095,198
$
43,175,843
Accenture plc Consolidated Cash Flows
Statements (In thousands of U.S. dollars)
(Unaudited)
Three Months Ended
Nine Months Ended
May 31, 2022
May 31, 2021
May 31, 2022
May 31, 2021
CASH FLOWS FROM OPERATING
ACTIVITIES:
Net income
$
1,819,316
$
1,569,572
$
5,296,575
$
4,553,122
Depreciation, amortization and other
524,186
478,986
1,553,311
1,404,961
Share-based compensation expense
407,257
331,038
1,319,555
1,067,251
Change in assets and liabilities/other,
net
313,896
21,554
(2,418,422
)
(486,618
)
Net cash provided by (used in)
operating activities
3,064,655
2,401,150
5,751,019
6,538,716
CASH FLOWS FROM INVESTING
ACTIVITIES:
Purchases of property and equipment
(194,616
)
(158,212
)
(540,947
)
(343,837
)
Purchases of businesses and investments,
net of cash acquired
(363,614
)
(429,237
)
(2,212,388
)
(1,544,412
)
Proceeds from the sale of businesses and
investments, net of cash transferred
(111,660
)
(314
)
(108,099
)
409,828
Other investing, net
2,936
15,075
9,397
19,971
Net cash provided by (used in)
investing activities
(666,954
)
(572,688
)
(2,852,037
)
(1,458,450
)
CASH FLOWS FROM FINANCING
ACTIVITIES:
Proceeds from issuance of ordinary
shares
497,974
392,478
1,199,851
939,564
Purchases of shares
(972,171
)
(834,995
)
(3,510,891
)
(2,788,476
)
Cash dividends paid
(613,785
)
(559,070
)
(1,843,576
)
(1,678,164
)
Other financing, net
(15,457
)
(10,781
)
(54,998
)
(31,476
)
Net cash provided by (used in)
financing activities
(1,103,439
)
(1,012,368
)
(4,209,614
)
(3,558,552
)
Effect of exchange rate changes on cash
and cash equivalents
(56,810
)
26,708
(153,974
)
72,336
NET INCREASE (DECREASE) IN CASH AND
CASH EQUIVALENTS
1,237,452
842,802
(1,464,606
)
1,594,050
CASH AND CASH EQUIVALENTS,
beginning of period
5,466,116
9,166,578
8,168,174
8,415,330
CASH AND CASH EQUIVALENTS, end of
period
$
6,703,568
$
10,009,380
$
6,703,568
$
10,009,380
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220623005275/en/
Stacey Jones Accenture Media Relations +1 (917) 452-6561
stacey.jones@accenture.com
Angie Park Accenture Investor Relations +1 (703) 947-2401
angie.park@accenture.com
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