Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit http://www.infosys.com [http://www.infosys.com/Pages/index.aspx ] to see how Infosys , with US$7.4 billion in annual revenues and 155,000+ employees, is Building Tomorrow's Enterprise(R) today.
Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2013 and on Form 6-K for the quarter ended June 30, 2013. These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Balance Sheets as of
(Dollars in millions except share data)
September 30, March 31,
2013 2013
ASSETS
Current assets
Cash and cash equivalents $3,601 $4,021
Available-for-sale financial assets 448 320
Investment in certificates of deposit 84 -
Trade receivables 1,333 1,305
Unbilled revenue 503 449
Derivative financial instruments - 19
Prepayments and other current assets 389 391
Total current assets 6,358 6,505
Non-current assets
Property, plant and equipment 1,120 1,191
Goodwill 352 364
Intangible assets 62 68
Available-for-sale financial assets 165 72
Deferred income tax assets 88 94
Income tax assets 222 201
Other non-current assets 30 44
Total non-current assets 2,039 2,034
Total assets $8,397 $8,539
LIABILITIES AND EQUITY
Current liabilities
Derivative financial instruments $72 -
Trade payables 16 35
Current income tax liabilities 305 245
Client deposits 3 6
Unearned revenue 135 152
Employee benefit obligations 142 113
Provisions 71 39
Other current liabilities 698 568
Total current liabilities 1,442 1,158
Non-current liabilities
Deferred income tax liabilities 11 23
Other non-current liabilities 44 27
Total liabilities 1,497 1,208
Equity
Share capital- `5 ($0.16) par value
600,000,000 equity shares authorized, issued
and outstanding 571,402,566 each, net of
2,833,600 treasury shares each as of
September 30, 2013 and March 31, 2013,
respectively 64 64
Share premium 704 704
Retained earnings 8,159 7,666
Other components of equity (2,027) (1,103)
Total equity attributable to equity holders
of the company 6,900 7,331
Non-controlling interests - -
Total equity 6,900 7,331
Total liabilities and equity $8,397 $8,539
Infosys Limited and subsidiaries
Unaudited Condensed Consolidated Statements of Comprehensive Income
(Dollars in millions except share and per equity share data)
(CONTINUA)
