acn-20241130

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☑			QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended November 30, 2024


☐			TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
			For the transition period from to

Commission File Number: 001-34448

Accenture plc

(Exact name of registrant as specified in its charter)


Ireland			98-0627530
(State or other jurisdiction of incorporation or organization)			(I.R.S. Employer Identification No.)

1 Grand Canal Square,

Grand Canal Harbour,

Dublin 2, Ireland

(Address of principal executive offices)

(353) (1) 646-2000

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Class A ordinary shares, par value $0.0000225 per share	ACN	New York Stock Exchange

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer

☑

Accelerated filer

☐

Non-accelerated filer

☐

Smaller reporting company

☐

Emerging growth company

☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☑

The number of shares of the registrant’s Class A ordinary shares, par value $0.0000225 per share, outstanding as of December 9, 2024 was 674,873,315 (which number includes 49,393,378 issued shares held by the registrant). The number of shares of the registrant’s Class X ordinary shares, par value $0.0000225 per share, outstanding as of December 9, 2024 was 307,754.

Table of Contents



		Page
Part I.	Financial Information	3
Item 1.	Financial Statements	3
	Consolidated Balance Sheets as of November 3 0 , 2024 (Unaudited) and August 31, 20 24	3
	Consolidated Income Statements (Unaudited) for the three months ended November 3 0 , 2024 and 2023	4
	Consolidated Statements of Comprehensive Income (Unaudited) for the three months ended November 3 0 , 2024 and 2023	5
	Consolidated Shareholders’ Equity Statement (Unaudited) for the three months ended November 3 0 , 2024 and 2023	6
	Consolidated Cash Flows Statements (Unaudited) for the three months ended November 3 0 , 2024 and 2023	8
	Notes to Consolidated Financial Statements (Unaudited)	9
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	21
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	31
Item 4.	Controls and Procedures	31
Part II.	Other Information	32
Item 1.	Legal Proceedings	32
Item 1A.	Risk Factors	32
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	32
Item 3.	Defaults Upon Senior Securities	32
Item 4.	Mine Safety Disclosures	33
Item 5.	Other Information	33
Item 6.	Exhibits	33
Signatures		34


Table of Contents	Consolidated Financial Statements (In thousands of U.S. dollars, except share and per share amounts)
ACCENTURE FORM 10-Q		3

Part I — Financial Information

Item 1. Financial Statements

Consolidated Balance Sheets

November 30, 2024 and August 31, 2024


	November 30, 2024		August 31, 2024
ASSETS	(Unaudited)
CURRENT ASSETS:
Cash and cash equivalents	$	8,306,055	$	5,004,469
Short-term investments	5,150		5,396
Receivables and contract assets	14,574,637		13,664,847
Other current assets	2,312,495		2,183,069
Total current assets	25,198,337		20,857,781
NON-CURRENT ASSETS:
Contract assets	128,981		120,260
Investments	371,507		334,664
Property and equipment, net	1,507,460		1,521,119
Lease assets	2,669,480		2,757,396
Goodwill	20,868,911		21,120,179
Deferred contract costs	893,898		862,140
Deferred tax assets	4,108,532		4,147,496
Intangibles	2,740,590		2,904,031
Other non-current assets	1,380,374		1,307,297
Total non-current assets	34,669,733		35,074,582
TOTAL ASSETS	$	59,868,070	$	55,932,363
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES:
Current portion of long-term debt and bank borrowings	$	114,321	$	946,229
Accounts payable	2,579,165		2,743,807
Deferred revenues	4,711,553		5,174,923
Accrued payroll and related benefits	6,602,324		7,050,833
Income taxes payable	863,673		719,084
Lease liabilities	709,964		726,202
Other accrued liabilities	1,605,968		1,615,049
Total current liabilities	17,186,968		18,976,127
NON-CURRENT LIABILITIES:
Long-term debt	5,039,460		78,628
Deferred revenues	623,750		641,091
Retirement obligation	1,845,092		1,815,867
Deferred tax liabilities	453,066		428,845
Income taxes payable	1,366,759		1,514,869
Lease liabilities	2,282,652		2,369,490
Other non-current liabilities	967,900		939,198
Total non-current liabilities	12,578,679		7,787,988
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY:
Ordinary shares, par value 1.00 euros per share, 40,000 shares authorized and issued as of November 30, 2024 and August 31, 2024	57		57
Class A ordinary shares, par value $0.0000225 per share, 20,000,000,000 shares authorized, 674,278,898 and 672,484,852 shares issued as of November 30, 2024 and August 31, 2024, respectively	15		15
Class X ordinary shares, par value $0.0000225 per share, 1,000,000,000 shares authorized, 307,754 shares issued and outstanding as of November 30, 2024 and August 31, 2024	—		—
Restricted share units	2,777,423		2,614,608
Additional paid-in capital	15,364,338		14,710,857
Treasury shares, at cost: Ordinary, 40,000 shares as of November 30, 2024 and August 31, 2024; Class A ordinary, 49,248,770 and 47,204,565 shares as of November 30, 2024 and August 31, 2024, respectively	(11,304,512)		(10,564,572)
Retained earnings	24,402,568		23,082,423
Accumulated other comprehensive loss	(2,049,394)		(1,554,742)
Total Accenture plc shareholders’ equity	29,190,495		28,288,646
Noncontrolling interests	911,928		879,602
Total shareholders’ equity	30,102,423		29,168,248
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$	59,868,070	$	55,932,363

The accompanying Notes are an integral part of these Consolidated Financial Statements.


Table of Contents	Consolidated Financial Statements (In thousands of U.S. dollars, except share and per share amounts)
ACCENTURE FORM 10-Q		4

Consolidated Income Statements

For the Three Months Ended November 30, 2024 and 2023

(Unaudited)



	2024		2023
REVENUES:
Revenues	$	17,689,545	$	16,224,303
OPERATING EXPENSES:
Cost of services	11,866,716		10,776,362
Sales and marketing	1,811,109		1,709,891
General and administrative costs	1,063,243		1,033,499
Business optimization costs	—		139,664
Total operating expenses	14,741,068		13,659,416
OPERATING INCOME	2,948,477		2,564,887
Interest income	76,027		101,980
Interest expense	(30,042)		(14,495)
Other income (expense), net	(39,217)		(35,719)

INCOME BEFORE INCOME TAXES	2,955,245		2,616,653
Income tax expense	639,055		606,672
NET INCOME	2,316,190		2,009,981
Net income attributable to noncontrolling interests in Accenture Canada Holdings Inc.	(2,170)		(2,016)
Net income attributable to noncontrolling interests – other	(35,126)		(34,521)
NET INCOME ATTRIBUTABLE TO ACCENTURE PLC	$	2,278,894	$	1,973,444
Weighted average Class A ordinary shares:
Basic	625,676,922		627,996,111
Diluted	634,656,410		637,398,361
Earnings per Class A ordinary share:
Basic	$	3.64	$	3.14
Diluted	$	3.59	$	3.10
Cash dividends per share	$	1.48	$	1.29

The accompanying Notes are an integral part of these Consolidated Financial Statements.


Table of Contents	Consolidated Financial Statements (In thousands of U.S. dollars)
ACCENTURE FORM 10-Q		5

Consolidated Statements of Comprehensive Income

For the Three Months Ended November 30, 2024 and 2023

(Unaudited)



	2024		2023
NET INCOME	$	2,316,190	$	2,009,981
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
Foreign currency translation	(474,983)		68,192
Defined benefit plans	(15,758)		36,392
Cash flow hedges	(3,911)		11,302

OTHER COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ACCENTURE PLC	(494,652)		115,886
Other comprehensive income (loss) attributable to noncontrolling interests	(10,093)		1,885
COMPREHENSIVE INCOME	$	1,811,445	$	2,127,752

COMPREHENSIVE INCOME ATTRIBUTABLE TO ACCENTURE PLC	$	1,784,242	$	2,089,330
Comprehensive income attributable to noncontrolling interests	27,203		38,422
COMPREHENSIVE INCOME	$	1,811,445	$	2,127,752

The accompanying Notes are an integral part of these Consolidated Financial Statements.


Table of Contents	Consolidated Financial Statements (In thousands of U.S. dollars and share amounts)
ACCENTURE FORM 10-Q		6

SEC Form 10-Q filed by Accenture plc