Accenture Reports Solid Third-Quarter Fiscal 2012 Results, With Record Quarterly Revenues and EPS

– Revenues increase 6% in U.S. dollars and 9% in local currency, to $7.2 billion –

– EPS up 11%, to $1.03 –

– Operating income increases 12%, to $1.06 billion, with operating margin of 14.8% –

– New bookings are $7.3 billion, with consulting bookings of $4.05 billion and outsourcing bookings of $3.24 billion –

– Company continues to expect full-year revenue growth in range of 10% to 12% in local currency –

NEW YORK--()--Accenture (NYSE: ACN) reported financial results in line with its guided range for the third quarter of fiscal 2012, ended May 31, 2012. Net revenues were $7.2 billion, an increase of 6 percent in U.S. dollars and 9 percent in local currency over the same period last year. Diluted earnings per share were $1.03, an increase of $0.10 over the same period last year, driven principally by higher revenue and operating results.

Operating income was $1.06 billion, an increase of 12 percent over the same period last year, and operating margin was 14.8 percent, compared with 14.1 percent for the same period last year.

New bookings for the quarter were $7.29 billion, with consulting bookings of $4.05 billion and outsourcing bookings of $3.24 billion.

Pierre Nanterme, Accenture’s chief executive officer, said, “We are pleased with our third-quarter performance. Our revenue growth in local currency was broad-based across all five operating groups and all three geographic regions, with particularly strong growth in outsourcing revenues. Quarterly new bookings of $7.3 billion took us to $23 billion for the first three quarters of the year, positioning us very well to achieve our annual outlook. Our balance sheet remains very strong, with a cash balance of $5.6 billion.

“While we continue to monitor the global economic environment, our highly diversified portfolio of business continues to position us well to drive profitable growth and deliver value to our clients and shareholders.”

Financial Review

Revenues before reimbursements (“net revenues”) for the third quarter of fiscal 2012 were $7.2 billion, compared with $6.7 billion for the third quarter of fiscal 2011, an increase of 6 percent in U.S. dollars and 9 percent in local currency.

  • Consulting net revenues for the quarter were $4.0 billion, consistent in U.S. dollars and an increase of 3 percent in local currency compared with the third quarter of fiscal 2011.
  • Outsourcing net revenues were $3.2 billion, an increase of 16 percent in U.S. dollars and 19 percent in local currency over the third quarter of fiscal 2011.

Diluted EPS for the quarter were $1.03, compared with $0.93 for the third quarter last year, an increase of $0.10, or 11 percent. The $0.10 increase in EPS reflects:

  • $0.10 from higher revenue and operating results; and
  • $0.02 from a lower share count;

partially offset by:

  • $0.02 from a higher effective tax rate.

Gross margin (gross profit as a percentage of net revenues) for the quarter was 33.1 percent, compared with 34.4 percent for the third quarter last year. Selling, general and administrative (SG&A) expenses for the third quarter were $1.31 billion, or 18.3 percent of net revenues, compared with $1.36 billion, or 20.2 percent of net revenues, for the third quarter last year. SG&A costs in the third quarter last year included a $75 million provision, with an impact of 110 basis points, for litigation matters.

Operating income for the quarter was $1.06 billion, or 14.8 percent of net revenues, compared with $949 million, or 14.1 percent of net revenues, for the third quarter of fiscal 2011, an expansion of 70 basis points.

The company’s effective tax rate for the quarter was 28.5 percent, compared with 27.0 percent for the third quarter last year. The higher rate in the third quarter this year was primarily due to a net increase in reserves and a change in the geographic mix of income.

Net income for the quarter was $763 million, compared with $699 million for the third quarter last year, an increase of 9 percent.

Operating cash flow for the quarter was $1.22 billion, and property and equipment additions were $90 million. Free cash flow, defined as operating cash flow net of property and equipment additions, was $1.13 billion. For the same period last year, operating cash flow was $1.35 billion; property and equipment additions were $113 million; and free cash flow was $1.24 billion.

Days services outstanding, or DSOs, were 30 days, compared with 30 days at Aug. 31, 2011 and 32 days at May 31, 2011.

Accenture’s total cash balance at May 31, 2012 was $5.6 billion, compared with $5.7 billion at Aug. 31, 2011.

Utilization for the quarter was 87 percent, compared with 87 percent for the second quarter of fiscal 2012 and 85 percent for the third quarter of fiscal 2011. Attrition for the third quarter of fiscal 2012 was 13 percent, compared with 12 percent for the second quarter of fiscal 2012 and 15 percent for the third quarter of fiscal 2011.

New Bookings

New bookings for the third quarter were $7.29 billion and reflect a negative 4 percent foreign-currency impact compared with new bookings in the third quarter last year.

  • Consulting new bookings were $4.05 billion, or 56 percent of total new bookings.
  • Outsourcing new bookings were $3.24 billion, or 44 percent of total new bookings.

Net Revenues by Operating Group

Net revenues by operating group were as follows:

  • Communications, Media & Technology: $1.5 billion, compared with $1.4 billion for the third quarter of fiscal 2011, an increase of 4 percent in U.S. dollars and 8 percent in local currency.
  • Financial Services: $1.5 billion, compared with $1.4 billion for the third quarter of fiscal 2011, an increase of 4 percent in U.S. dollars and 8 percent in local currency.
  • Health & Public Service: $1.1 billion, compared with $971 million for the third quarter of fiscal 2011, an increase of 12 percent in U.S. dollars and 13 percent in local currency.
  • Products: $1.7 billion, compared with $1.6 billion for the third quarter of fiscal 2011, an increase of 8 percent in U.S. dollars and 11 percent in local currency.
  • Resources: $1.4 billion, compared with $1.3 billion for the third quarter of fiscal 2011, an increase of 5 percent in U.S. dollars and 8 percent in local currency.

Net Revenues by Geographic Region

Net revenues by geographic region were as follows:

  • Americas: $3.2 billion, compared with $2.9 billion for the third quarter of fiscal 2011, an increase of 10 percent in U.S. dollars and 12 percent in local currency.
  • Europe, Middle East and Africa (EMEA): $2.9 billion, compared with $2.9 billion for the third quarter of fiscal 2011, a decrease of 1 percent in U.S. dollars and an increase of 4 percent in local currency.
  • Asia Pacific: $1.0 billion, compared with $865 million for the third quarter of fiscal 2011, an increase of 18 percent in both U.S. dollars and local currency.

Returning Cash to Shareholders

Accenture continues to return cash to shareholders through cash dividends and share repurchases.

Dividend

On May 15, 2012, a semi-annual cash dividend of 67.5 cents per share was paid on Accenture plc Class A ordinary shares to shareholders of record at the close of business on April 13, 2012, and on Accenture SCA Class I common shares to shareholders of record at the close of business on April 10, 2012.

Combined with the semi-annual cash dividend of 67.5 cents per share paid on Nov. 15, 2011, this brings the total dividend payments for the fiscal year to $1.35 per share, for total cash dividend payments of $951 million.

Share Repurchase Activity

During the third quarter of fiscal 2012, Accenture repurchased or redeemed 10.7 million shares, including 9.8 million shares repurchased in the open market, for a total of $653 million. This brings Accenture’s total share repurchases and redemptions for the first three quarters of fiscal 2012 to 24.7 million shares, including 19.7 million shares repurchased in the open market, for a total of approximately $1.4 billion.

Accenture’s total remaining share repurchase authority at May 31, 2012 was approximately $4.8 billion.

At May 31, 2012, Accenture had approximately 697 million total shares outstanding, including 639 million Accenture plc Class A ordinary shares and 58 million Accenture SCA Class I common shares and Accenture Canada Holdings Inc. exchangeable shares.

Business Outlook

Fourth Quarter Fiscal 2012

Accenture expects net revenues for the fourth quarter of fiscal 2012 to be in the range of $6.60 billion to $6.85 billion. This range assumes a foreign-exchange impact of negative 7 percent compared with the fourth quarter of fiscal 2011.

Full Fiscal Year 2012

Accenture’s business outlook for the full 2012 fiscal year now assumes a foreign-exchange impact of negative 2 percent compared with fiscal 2011; its previous outlook for full-year foreign-exchange impact was negative 1 percent.

For fiscal 2012, the company continues to expect revenue growth to be in the range of 10 percent to 12 percent in local currency.

The company has updated and narrowed its range for diluted EPS for fiscal 2012 to $3.80 to $3.84 from its previously guided range of $3.82 to $3.90. The update is primarily due to the company’s revised foreign-exchange assumption, which reduced the range by approximately $0.04.

Accenture continues to expect operating margin for the full fiscal year to be in the range of 13.7 percent to 13.9 percent, an expansion of 10 to 30 basis points.

The company now expects operating cash flow to be $3.55 billion to $3.85 billion and property and equipment additions to be $350 million and continues to expect free cash flow to be in the range of $3.2 billion to $3.5 billion. The company continues to expect its annual effective tax rate to be in the range of 27 percent to 28 percent.

Accenture expects new bookings for the full fiscal year to be toward the upper end of its previously guided range of $28 billion to $31 billion.

Conference Call and Webcast Details

Accenture will host a conference call at 4:30 p.m. EDT today to discuss its third-quarter fiscal 2012 financial results. To participate, please dial +1 (888) 276-0010 [+1 (612) 332-0720 outside the United States, Puerto Rico and Canada] 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 www.accenture.com.

A replay of the conference call will be available online at www.accenture.com beginning at 7:00 p.m. EDT today, Thursday, June 28, and continuing until Wednesday, Sept. 26, 2012. A podcast of the conference call will be available online at www.accenture.com beginning approximately 24 hours after the call and continuing until Wednesday, Sept. 26. The replay will also be available via telephone by dialing +1 (800) 475-6701 [+1 (320) 365-3844 outside the United States, Puerto Rico and Canada] and entering access code 248732 from 7:00 p.m. EDT today, Thursday, June 28, through Wednesday, Sept. 26.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with more than 249,000 people serving clients in more than 120 countries. Combining unparalleled experience, comprehensive capabilities across all industries and business functions, and extensive research on the world’s most successful companies, Accenture collaborates with clients to help them become high-performance businesses and governments. The company generated net revenues of US$25.5 billion for the fiscal year ended Aug. 31, 2011. Its home page is www.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.

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. 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 include, without limitation, risks that: the company’s results of operations could be adversely affected by volatile, negative or uncertain economic conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; the company’s business depends on generating and maintaining ongoing, profitable client demand for the company’s services and solutions, and a significant reduction in such demand could materially affect the company’s results of operations; if the company is unable to keep its supply of skills and resources in balance 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 consulting and outsourcing markets are highly competitive, and the company might not be able to compete effectively; the company’s results of operations (including its net revenues and operating income) and the value of balance-sheet items originally denominated in other currencies could be materially adversely affected by unfavorable fluctuations in foreign currency exchange rates or changes to existing currencies; the company could have liability or the company’s reputation could be damaged if the company fails to protect client and company data or information systems as obligated by law or contract or if the company’s information systems are breached; the company’s Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose it to operational risks; as a result of the company’s geographically diverse operations and its growth strategy to continue geographic expansion, the company is more susceptible to certain risks; the company’s results of operations could materially suffer if the company is not able to obtain sufficient pricing to enable it to meet its profitability expectations; if the company’s pricing estimates do not accurately anticipate the cost, risk and complexity of the company performing its work or third parties upon which it relies do not meet their commitments, then the company’s contracts could have delivery inefficiencies and be unprofitable; the company’s work with government clients exposes the company to additional risks inherent in the government contracting environment, including risks related to governmental budget and debt constraints; the company’s business could be materially adversely affected if it incurs legal liability in connection with providing its services and solutions; the company’s results of operations and ability to grow could be materially negatively affected if the company cannot adapt and expand its services and solutions in response to ongoing changes in technology and offerings by new entrants; outsourcing services subject the company to different operational risks than its consulting and systems integration services; the company’s services or solutions could infringe upon the intellectual property rights of others or the company might lose its ability to utilize the intellectual property of others; the company has only a limited ability to protect its intellectual property rights, which are important to the company’s success; the company’s ability to attract and retain business and employees may depend on its reputation in the marketplace; the company’s alliance relationships may not be successful or may change, which could adversely affect the company’s results of operations; the company may not be successful at identifying, acquiring or integrating other businesses; the company’s profitability could suffer if its cost-management strategies are unsuccessful, and the company may not be able to improve its profitability through improvements to cost-management to the degree it has done in the past; many of the company’s contracts include performance payments that link some of its fees to the attainment of performance or business targets and/or require the company to meet specific service levels, which could increase the variability of the company’s revenues and impact its margins; changes in the company’s level of taxes, and audits, investigations and tax proceedings, or changes in the company’s treatment as an Irish company, could have a material adverse effect on the company’s results of operations and financial condition; if the company is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; if the company is unable to collect its receivables or unbilled services, the company’s results of operations, financial condition and cash flows could be adversely affected; the company’s share price and results of operations could fluctuate and be difficult to predict; the company’s results of operations and share price could be adversely affected if it is unable to maintain effective internal controls; the company 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 May 31, Nine Months Ended May 31,
2012 % of Net Revenues 2011 % of Net Revenues 2012 % of Net Revenues 2011 % of Net Revenues
REVENUES:
Revenues before reimbursements ("Net revenues") $ 7,154,690 100 % $ 6,720,115 100 % $ 21,026,437 100 % $ 18,819,386 100 %
Reimbursements   486,100     484,240     1,463,289     1,359,455  
Revenues 7,640,790 7,204,355 22,489,726 20,178,841
 
OPERATING EXPENSES:
Cost of services:
Cost of services before reimbursable expenses 4,783,785 66.9 % 4,410,487 65.6 % 14,287,626 68.0 % 12,648,054 67.2 %
Reimbursable expenses   486,100     484,240     1,463,289     1,359,455  
Cost of services 5,269,885 4,894,727 15,750,915 14,007,509
Sales and marketing 854,476 11.9 % 832,374 12.4 % 2,464,291 11.7 % 2,273,624 12.1 %
General and administrative costs 455,233 6.4 % 527,442 7.8 % 1,342,064 6.4 % 1,348,667 7.2 %
Reorganization costs, net   435     396     1,258     1,113  
Total operating expenses   6,580,029     6,254,939     19,558,528     17,630,913  
 
OPERATING INCOME 1,060,761 14.8 % 949,416 14.1 % 2,931,198 13.9 % 2,547,928 13.5 %
 
Gain (loss) on investments, net 39 (22 ) 31 (941 )
Interest income 11,304 9,861 31,062 29,147
Interest expense (3,497 ) (2,827 ) (11,875 ) (11,070 )
Other (expense) income, net   (2,154 )   1,421     7,604     11,560  
 
INCOME BEFORE INCOME TAXES 1,066,453 14.9 % 957,849 14.3 % 2,958,020 14.1 % 2,576,624 13.7 %
 
Provision for income taxes   303,622     258,780     769,242     706,249  
 
NET INCOME 762,831 10.7 % 699,069 10.4 % 2,188,778 10.4 % 1,870,375 9.9 %
 

Net income attributable to noncontrolling interests in Accenture SCA and Accenture Canada Holdings Inc.

(63,203 ) (64,012 ) (185,747 ) (183,276 )
Net income attributable to noncontrolling interests – other (1)   (10,409 )   (7,044 )   (27,803 )   (21,355 )
 
NET INCOME ATTRIBUTABLE TO ACCENTURE PLC $ 689,219   9.6 % $ 628,013   9.3 % $ 1,975,228   9.4 % $ 1,665,744   8.9 %
 
CALCULATION OF EARNINGS PER SHARE:
Net income attributable to Accenture plc $ 689,219 $ 628,013 $ 1,975,228 $ 1,665,744

Net income attributable to noncontrolling interests in Accenture SCA and Accenture Canada Holdings Inc. (2)

  63,203     64,012     185,747     183,276  
Net income for diluted earnings per share calculation $ 752,422   $ 692,025   $ 2,160,975   $ 1,849,020  
 
EARNINGS PER SHARE:
- Basic $ 1.07 $ 0.96 $ 3.06 $ 2.58
- Diluted (3) $ 1.03 $ 0.93 $ 2.96 $ 2.48
 
WEIGHTED AVERAGE SHARES:
- Basic 645,761,617 651,339,239 645,507,900 645,032,214
- Diluted (3) 728,876,260 746,204,855 729,183,064 744,224,581
 
Cash dividends per share $ 0.675 $ 0.45 $ 1.35 $ 0.90

_____________________

(1)

 

Comprised primarily of noncontrolling interest attributable to the noncontrolling shareholders of Avanade, Inc.

(2)

Diluted earnings per share assumes the redemption of all Accenture SCA Class I common shares owned by holders of noncontrolling interests and the exchange of all Accenture Canada Holdings Inc. exchangeable shares for Accenture plc Class A ordinary shares on a one-for-one basis.

(3)

Diluted weighted average Accenture plc Class A ordinary shares and earnings per share amounts in fiscal 2011 have been restated to reflect additional restricted share units issued to holders of restricted share units in connection with the payment of cash dividends.

               
ACCENTURE PLC
 
SUMMARY OF REVENUES
 
(In thousands of U.S. dollars)
(Unaudited)
 
Percent Percent
Increase Increase
Three Months Ended May 31, (Decrease) Local
2012 2011 U.S. dollars Currency
OPERATING GROUPS
Communications, Media & Technology (1) $ 1,505,403 $ 1,443,188 4 % 8 %
Financial Services 1,502,473 1,441,626 4 8
Health & Public Service 1,088,353 971,277 12 13
Products 1,701,823 1,575,184 8 11
Resources 1,351,838 1,284,116 5 8
Other   4,800   4,724 n/m n/m
TOTAL Net Revenues 7,154,690 6,720,115 6 % 9 %
Reimbursements   486,100   484,240 0
TOTAL REVENUES $ 7,640,790 $ 7,204,355 6 %
 
GEOGRAPHY
Americas $ 3,226,617 $ 2,920,837 10 % 12 %
EMEA 2,906,584 2,934,593 (1 ) 4
Asia Pacific   1,021,489   864,685 18 18
TOTAL Net Revenues $ 7,154,690 $ 6,720,115 6 % 9 %
 
TYPE OF WORK
Consulting $ 3,965,466 $ 3,965,751 0 % 3 %
Outsourcing   3,189,224   2,754,364 16 19
TOTAL Net Revenues $ 7,154,690 $ 6,720,115 6 % 9 %
 
 
Percent
Percent Increase
Nine Months Ended May 31, Increase Local
OPERATING GROUPS 2012 2011 U.S. dollars Currency
Communications, Media & Technology (1) $ 4,521,967 $ 4,002,113 13 % 13 %
Financial Services 4,362,931 4,008,364 9 9
Health & Public Service 3,198,534 2,867,489 12 11
Products 4,955,972 4,344,871 14 14
Resources 3,971,914 3,583,449 11 11
Other   15,119   13,100 n/m n/m
TOTAL Net Revenues 21,026,437 18,819,386 12 % 12 %
Reimbursements   1,463,289   1,359,455 8
TOTAL REVENUES $ 22,489,726 $ 20,178,841 11 %
 
GEOGRAPHY
Americas $ 9,329,475 $ 8,229,667 13 % 14 %
EMEA 8,713,247 8,163,891 7 8
Asia Pacific   2,983,715   2,425,828 23 19
TOTAL Net Revenues $ 21,026,437 $ 18,819,386 12 % 12 %
 
TYPE OF WORK
Consulting $ 11,824,076 $ 11,043,181 7 % 7 %
Outsourcing   9,202,361   7,776,205 18 19
TOTAL Net Revenues $ 21,026,437 $ 18,819,386 12 % 12 %
 

____________________

n/m = not meaningful
 

(1)

On September 1, 2011, the Company renamed the Communications & High Tech operating group to Communications, Media & Technology. No amounts have been reclassified in any period in connection with this name change.

 
                   
ACCENTURE PLC
 
OPERATING INCOME BY OPERATING GROUP (OG)
 
(In thousands of U.S. dollars)
(Unaudited)
 
Three Months Ended May 31,
2012 2011
OPERATING GROUPS Operating

Income

Operating

Margin

Operating

Income

Operating

Margin

Increase (Decrease)
Communications, Media & Technology (1) $ 232,548 15 % $ 195,631 14 % $ 36,917
Financial Services 216,451 14 262,180 18 (45,729 )
Health & Public Service 115,666 11 70,363 7 45,303
Products 241,558 14 190,501 12 51,057
Resources   254,538 19   230,741 18   23,797  
Total $ 1,060,761 14.8 % $ 949,416 14.1 % $ 111,345  
 
 
 
Nine Months Ended May 31,
2012 2011
OPERATING GROUPS Operating

Income

Operating

Margin

Operating

Income

Operating

Margin

Increase (Decrease)
Communications, Media & Technology (1) $ 664,481 15 % $ 539,317 13 % $ 125,164
Financial Services 574,020 13 710,975 18 (136,955 )
Health & Public Service 328,093 10 217,715 8 110,378
Products 644,590 13 473,547 11 171,043
Resources   720,014 18   606,374 17   113,640  
Total $ 2,931,198 13.9 % $ 2,547,928 13.5 % $ 383,270  
 

(1)

On September 1, 2011, the Company renamed the Communications & High Tech operating group to Communications, Media & Technology. No amounts have been reclassified in any period in connection with this name change.

 
       
ACCENTURE PLC
 
CONSOLIDATED BALANCE SHEETS
 
(In thousands of U.S. dollars)
 
May 31, 2012 August 31, 2011
(Unaudited)
ASSETS
 
CURRENT ASSETS:
Cash and cash equivalents $ 5,628,659 $ 5,701,078
Short-term investments 2,238 4,929
Receivables from clients, net 3,222,310 3,236,059
Unbilled services, net 1,457,127 1,385,733
Other current assets   1,147,692   1,143,384
 
Total current assets   11,458,026   11,471,183
 
NON-CURRENT ASSETS:
Unbilled services, net 11,183 49,192
Investments 28,706 40,365
Property and equipment, net 752,495 785,231
Other non-current assets   3,285,505   3,385,539
 
Total non-current assets   4,077,889   4,260,327
 
TOTAL ASSETS $ 15,535,915 $ 15,731,510
 
LIABILITIES AND SHAREHOLDERS' EQUITY
 
CURRENT LIABILITIES:
Current portion of long-term debt and bank borrowings $ 5,381 $ 4,419
Accounts payable 808,674 949,250
Deferred revenues 2,156,711 2,219,270
Accrued payroll and related benefits 3,088,642 3,259,252
Other accrued liabilities   1,533,659   1,474,398
 
Total current liabilities   7,593,067   7,906,589
 
NON-CURRENT LIABILITIES:
Long-term debt 49 -
Other non-current liabilities   3,354,706   3,474,049
 
Total non-current liabilities   3,354,755   3,474,049
 
TOTAL ACCENTURE PLC SHAREHOLDERS' EQUITY 4,106,004 3,878,951
 
NONCONTROLLING INTERESTS   482,089   471,921
 
TOTAL SHAREHOLDERS' EQUITY 4,588,093 4,350,872
   
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $ 15,535,915 $ 15,731,510
 
               
ACCENTURE PLC
 
CONSOLIDATED CASH FLOWS STATEMENTS
 
(In thousands of U.S. dollars)
(Unaudited)
 
Three Months Ended May 31, Nine Months Ended May 31,
2012 2011 2012 2011
 
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income $ 762,831 $ 699,069 $ 2,188,778 $ 1,870,375
Depreciation, amortization and asset impairments 135,001 130,773 414,636 371,916
Share-based compensation expense 150,872 125,530 412,389 343,718
Change in assets and liabilities/other, net   166,886     397,588     (467,142 )   (525,546 )
 
Net cash provided by operating activities   1,215,590     1,352,960     2,548,661     2,060,463  
 
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment (90,462 ) (112,681 ) (256,716 ) (266,739 )
Purchases of businesses and investments, net of cash acquired (10,808 ) (400 ) (173,684 ) (118,662 )
Other investing, net   5,702     1,249     7,630     3,144  
 
Net cash used in investing activities   (95,568 )   (111,832 )   (422,770 )   (382,257 )
 
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of ordinary shares 168,786 186,328 397,665 468,363
Purchases of shares (653,021 ) (643,861 ) (1,403,100 ) (1,441,073 )
Cash dividends paid (475,961 ) (322,992 ) (950,857 ) (643,642 )
Other financing, net   10,224     24,055     40,421     109,383  
 
Net cash used in financing activities (949,972 ) (756,470 ) (1,915,871 ) (1,506,969 )
Effect of exchange rate changes on cash and cash equivalents   (110,137 )   94,482     (282,439 )   247,155  
 
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS 59,913 579,140 (72,419 ) 418,392
 
CASH AND CASH EQUIVALENTS, beginning of period   5,568,746     4,677,544     5,701,078     4,838,292  
 
CASH AND CASH EQUIVALENTS, end of period $ 5,628,659   $ 5,256,684   $ 5,628,659   $ 5,256,684  

Contacts

Accenture
Roxanne Taylor, + 917-452-5106
roxanne.taylor@accenture.com

Release Summary

Accenture reported financial results in line with its guided range for the third quarter of fiscal 2012, ended May 31, 2012.

Sharing

Contacts

Accenture
Roxanne Taylor, + 917-452-5106
roxanne.taylor@accenture.com