R U B U N D E Y


A、G、E、N、D、A


D I SCC L A I M E R


HO R A C I O R O Z ANSK I





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K A R E N D A H U T


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J U D I D O T O N


···デジタル現代化·



K R I TS N E M R T N N D E R S O N


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K A R E N D A H U T


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SU SA N P E N F E LD





B E T TY T H O M P S O N






L L O Y H O W E L L











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N O N−G A A P F N N C I N F O R M T I O N


N O N - G A A P F I N A N C I A L I N F O R M A T I O N $ in thousands, except for shares and per share data FY2018 FY2019 FY2020 FY2021 Revenue, Excluding Billable Expenses Revenue $ 6,167,600 $ 6,704,037 $ 7,463,841 $ 7,858,938 Less: Billable Expenses 1,861,312 2,004,664 2,298,413 2,325,888 Revenue, Excluding Billable Expenses $ 4,306,288 $ 4,699,373 $ 5,165,428 $ 5,533,050 Net income $ 301,692 $ 418,529 $ 482,603 $ 608,958 Income tax expense 128,344 96,874 96,831 53,481 Interest and other, net (a) 89,687 86,991 89,768 91,932 Depreciation and amortization 64,756 68,575 81,081 84,315 EBITDA 584,479 670,969 750,283 838,686 Financing transaction costs (b) — 3,660 1,069 — COVID-19 supplemental employee benefits (c) — — 2,722 577 Acquisition costs (d) — — — 411 Adjusted EBITDA $ 584,479 $ 674,629 $ 754,074 $ 839,674 Adjusted EBITDA Margin on Revenue 9.5 % 10.1 % 10.1 % 10.7 % Adjusted Net Income Net income $ 301,692 $ 418,529 $ 482,603 $ 608,958 Financing transaction costs (b) — 3,660 1,069 — COVID-19 supplemental employee benefits (c) — — 2,722 577 Acquisition costs (d) — — — 411 Research and development tax credits (e) — — (38,395) (2,928) Release of income tax reserves (f) — (462) (68) (29) Remeasurement of deferred tax assets/liabilities (g) (9,107) (27,908) — (76,767) Loss on debt extinguishment (i) — — — 13,239 Amortization or write-off of debt issuance costs and debt discount 2,655 2,920 2,395 2,402 Adjustments for tax effect (h) (969) (1,711) (1,608) (4,324) Adjusted Net Income $ 294,271 $ 395,028 $ 448,718 $ 541,539 Adjusted Diluted Earnings per Share Weighted-average number of diluted shares outstanding 147,750,022 143,156,176 141,238,135 138,703,220 Adjusted Net Income per Diluted Share (j) $ 1.99 $ 2.76 $ 3.18 $ 3.90 Free Cash Flow Net cash provided by operating activities $ 369,143 $ 499,610 $ 551,428 $ 718,684 Less: purchases of property, equipment, and software (78,437) (94,681) (128,079) (87,210) Free Cash Flow $ 290,706 $ 404,929 $ 423,349 $ 631,474 Free Cash Flow Conversion 99% 103% 94% 117%