EX-99.1 2 dex991.htm PRESS RELEASE OF ACCENTURE, DATED JUNE 23, 2011 Press Release of Accenture, dated June 23, 2011

Exhibit 99.1

Accenture Reports Strong Third-Quarter Fiscal 2011 Results,

With Record Quarterly Revenues and EPS

— Revenues increase 21% in U.S. dollars and 15% in local currency, to $6.7 billion —

— EPS up 27%, to $0.93 —

— New bookings are $7.1 billion —

— Company raises outlook for full-year revenue growth to range of 14% to 15% in local currency

and outlook for full-year EPS to range of $3.36 to $3.40 —

NEW YORK; June 23, 2011 — Accenture (NYSE: ACN) reported strong financial results for the third quarter of fiscal 2011, ended May 31, 2011, with net revenues of $6.7 billion, an increase of 21 percent in U.S. dollars and 15 percent in local currency over the same period last year. Diluted earnings per share were $0.93, an increase of $0.20, or 27 percent, over the same period last year.

Operating income was $949 million, an increase of 18 percent over the same period last year, and operating margin was 14.1 percent.

New bookings for the quarter were $7.1 billion, with consulting bookings of $3.7 billion and outsourcing bookings of $3.4 billion.

Pierre Nanterme, Accenture’s chief executive officer, said, “We are very pleased with our third-quarter results. The continued momentum in our business and the focused execution of our growth strategy enabled us to achieve our highest quarterly revenues ever, of more than $6.7 billion. Four of our five operating groups, and all three geographic regions, saw double-digit revenue growth in both U.S. dollars and local currency. We also achieved record quarterly EPS of $0.93, and we have a very strong balance sheet.

“We continue to gain market share, and demand for our services remains robust, as demonstrated by third-quarter bookings in excess of $7 billion. Our focus remains on driving sustainable and profitable growth through technology leadership and industry differentiation, and delivering superior value to our clients and shareholders.”

Financial Review

Revenues before reimbursements (“net revenues”) for the third quarter of fiscal 2011 were $6.7 billion, compared with $5.6 billion in the third quarter of fiscal 2010, an increase of 21 percent in U.S. dollars and 15 percent in local currency. Net revenues for the third quarter of fiscal 2011 exceeded the company’s guided range of $6.3 billion to $6.5 billion, which assumed a foreign-exchange impact of positive 4 percent. Adjusting for the actual foreign-exchange impact of positive 6 percent in the third quarter, the Company’s guided range for quarterly net revenues would have been $6.4 billion to $6.6 billion. Net revenues of $6.7 billion for the quarter also exceeded this adjusted range.


   

Consulting net revenues for the quarter were $3.97 billion, an increase of 23 percent in U.S. dollars and 17 percent in local currency over the third quarter of fiscal 2010.

 

   

Outsourcing net revenues were $2.75 billion, an increase of 17 percent in U.S. dollars and 12 percent in local currency over the third quarter of fiscal 2010.

Diluted EPS for the quarter were $0.93, an increase of $0.20, or 27 percent, compared with the third quarter of fiscal 2010. The components of the increase were:

 

   

an $0.08 increase from higher revenue and operating results in local currency;

   

a $0.04 increase from a lower effective tax rate;

   

a $0.04 increase from favorable foreign-exchange rates;

   

a $0.03 increase from a lower share count; and

   

a $0.01 increase from higher non-operating income.

Operating income for the quarter was $949 million, or 14.1 percent of net revenues, compared with $804 million, or 14.4 percent of net revenues, for the third quarter of fiscal 2010.

Gross margin (gross profit as a percentage of net revenues) for the quarter was 34.4 percent, compared with 34.7 percent for the third quarter last year.

Selling, general and administrative (SG&A) expenses for the third quarter were $1.36 billion, or 20.2 percent of net revenues, compared with $1.12 billion, or 20.2 percent of net revenues, for the third quarter last year. Sales and marketing costs as a percentage of net revenues decreased 40 basis points. General and administrative costs as a percentage of net revenues increased 40 basis points and included a $75 million provision for litigation matters (an impact of 110 basis points), partially offset by management of other general and administrative costs at a growth rate lower than that of net revenues.

The company’s effective tax rate for the quarter was 27.0 percent, compared with 29.8 percent for the third quarter last year. The lower rate in the third quarter of fiscal 2011 was primarily due to a number of factors that affect the geographic mix of income, partially offset by a net increase in reserves related to ongoing tax audits.

Net income for the quarter was $699 million, compared with $564 million for the same period of fiscal 2010, an increase of 24 percent.

Operating cash flow for the quarter was $1.35 billion, and property and equipment additions were $113 million. Free cash flow, defined as operating cash flow net of property and equipment additions, was $1.24 billion. For the same period last year, operating cash flow was $961 million; property and equipment additions were $58 million; and free cash flow was $903 million.

Days services outstanding, or DSOs, were 32 days at May 31, 2011, compared with 30 days at Aug. 31, 2010.


Accenture’s total cash balance at May 31, 2011 was $5.3 billion, compared with $4.8 billion at Aug. 31, 2010.

Utilization for the quarter was 85 percent. Attrition for the quarter was 15 percent, compared with 17 percent for the third quarter last year.

New Bookings

New bookings for the third quarter were $7.1 billion and reflect a positive 6 percent foreign-currency impact compared with new bookings in the third quarter last year.

 

   

Consulting new bookings were $3.7 billion, or 53 percent of total new bookings.

 

   

Outsourcing new bookings were $3.4 billion, or 47 percent of total new bookings.

Net Revenues by Operating Group

Net revenues by operating group were as follows:

 

   

Communications & High Tech: $1.4 billion, compared with $1.2 billion for the third quarter of fiscal 2010, an increase of 22 percent in U.S. dollars and 16 percent in local currency.

 

   

Financial Services: $1.4 billion, compared with $1.1 billion for the same period last year, an increase of 25 percent in U.S. dollars and 19 percent in local currency.

 

   

Health & Public Service: $971 million, compared with $927 million for the same period last year, an increase of 5 percent in U.S. dollars and 3 percent in local currency.

 

   

Products: $1.6 billion, compared with $1.3 billion for the third quarter last year, an increase of 20 percent in U.S. dollars and 14 percent in local currency.

 

   

Resources: $1.3 billion, compared with $1.0 billion for the same period of fiscal 2010, an increase of 28 percent in U.S. dollars and 22 percent in local currency.

Net Revenues by Geographic Region

Net revenues by geographic region for the third quarter were as follows:

 

   

Americas: $2.9 billion, compared with $2.5 billion for the third quarter of fiscal 2010, an increase of 16 percent in U.S. dollars and 14 percent in local currency.

 

   

Europe, Middle East and Africa (EMEA): $2.9 billion, compared with $2.4 billion for the third quarter of fiscal 2010, an increase of 21 percent in U.S. dollars and 13 percent in local currency.


   

Asia Pacific: $865 million, compared with $625 million for the year-ago period, an increase of 38 percent in U.S. dollars and 25 percent in local currency.

Returning Cash to Shareholders

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

Dividend

On May 13, 2011, a semi-annual cash dividend of $0.45 per share was paid on Accenture plc Class A ordinary shares to shareholders of record at the close of business on April 15, 2011 and on Accenture SCA Class I common shares to shareholders of record at the close of business on April 12, 2011.

Combined with the semi-annual cash dividend of $0.45 per share paid on Nov. 15, 2010, this brings the total dividend payments for the fiscal year to $0.90 per share, for total cash dividend payments of $644 million.

Share Repurchase Activity

During the third quarter of fiscal 2011, Accenture repurchased or redeemed 11.4 million shares for a total of $644 million, including 9.7 million shares repurchased in the open market. This brings Accenture’s total share repurchases and redemptions for the first three quarters of fiscal 2011 to 29.7 million shares, including 13.1 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, 2011, was approximately $1.7 billion.

At May 31, 2011, Accenture had approximately 711 million total shares outstanding, including 646 million Accenture plc Class A ordinary shares and 65 million Accenture SCA Class I common shares and Accenture Canada Holding, Inc. exchangeable shares.

Business Outlook

Fourth Quarter Fiscal 2011

Accenture expects net revenues for the fourth quarter of fiscal 2011 to be in the range of $6.4 billion to $6.6 billion. This range assumes a foreign-exchange impact of positive 8 percent compared with the fourth quarter of fiscal 2010.


Full Fiscal Year 2011

Accenture’s business outlook for the full 2011 fiscal year now assumes a foreign-exchange impact of positive 3 percent compared with fiscal 2010. The annual business outlook provided in the company’s second-quarter fiscal 2011 earnings announcement in March assumed a foreign-exchange impact of positive 2 percent for the full fiscal year.

For fiscal 2011, the company has raised its outlook for net revenue growth to the range of 14 percent to 15 percent in local currency from its previous range of 11 percent to 14 percent in local currency. The company has also raised its outlook for annual diluted EPS to the range of $3.36 to $3.40 from its previous range of $3.22 to $3.30.

Accenture continues to expect operating margin for the full fiscal year to be in the range of 13.6 percent to 13.7 percent.

The company now expects operating cash flow to be in the range of $2.9 billion to $3.1 billion; now expects property and equipment additions to be $400 million; and now expects free cash flow to be in the range of $2.5 billion to $2.7 billion. The company now expects its annual effective tax rate to be in the range of 27 percent to 28 percent.

Accenture now expects new bookings to be at the upper end of its previously guided range of $25 billion to $28 billion for the full fiscal year.

Conference Call and Webcast Details

Accenture will host a conference call at 4:30 p.m. EDT today to discuss its third-quarter fiscal 2011 financial results. To participate, please dial +1 (800) 230-1085 [+1 (612) 288-0329 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 23, and continuing until Monday, Sept. 26, 2011. A podcast of the conference call will be available online at www.accenture.com beginning approximately 24 hours after the call and continuing until Monday, 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 204978 from 7:00 p.m. EDT Thursday, June 23 through Monday, Sept. 26.

About Accenture

Accenture is a global management consulting, technology services and outsourcing company, with more than 223,000 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$21.6 billion for the fiscal year ended Aug. 31, 2010. Its home page is www.accenture.com.


Non-GAAP Financial Information

This press 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 these non-GAAP financial measures 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 negative or uncertain economic or geopolitical conditions and the effects of these conditions on the company’s clients’ businesses and levels of business activity; 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 changes in technology and client demand; the consulting and outsourcing markets are highly competitive and the company might not be able to compete effectively; 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; clients may not be satisfied with the company’s services; results of operations could be materially adversely affected if clients terminate their contracts with the company; outsourcing services are a significant part of the company’s business and subject the company to additional operational and financial risk; results of operations could materially suffer if the company is not able to obtain favorable pricing; if the company is unable to keep its supply of skills and resources in balance with client demand around the world, 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 company’s business could be materially adversely affected if it incurs legal liability in connection with providing its services and solutions; if the company’s pricing estimates do not accurately anticipate the cost and complexity of performing work, then the company’s contracts could be unprofitable; many of the company’s contracts include performance payments that link some of the company’s fees to the attainment of performance or business targets and this could increase the variability of the company’s revenues and margins; the company’s ability to attract and retain business 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’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; revenues, revenue growth and earnings in U.S. dollars may be lower if the U.S. dollar strengthens against other currencies, particularly the Euro and British pound; the company could have liability or the company’s reputation could be damaged if the company fails to protect client data and company data or information systems as obligated by law or contract or if the company’s information systems are breached; the company could be subject to liabilities or damage to its relationships with clients if subcontractors or the third parties with whom the company partners cannot meet their commitments on time or at all; 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; changes in the company’s level of taxes, and audits, investigations and tax proceedings, could have a material adverse effect on the company’s results of operations and financial condition; the company’s profitability could suffer if its cost-management strategies are unsuccessful; 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 may be subject to criticism, negative publicity and legislative or regulatory action related to its incorporation in Ireland; if the company is unable to manage the organizational challenges associated with its size, the company might be unable to achieve its business objectives; the company may not be successful at identifying, acquiring or integrating other businesses; consolidation in the industries the company serves could adversely affect its business; the company’s share price could fluctuate and be difficult to predict; 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.

###

Contact:

Fred Hawrysh

Accenture

+1 (917) 452-4398

fred.hawrysh@accenture.com

Alex Pachetti

Accenture

+1 (917) 452-5519

alex.pachetti@accenture.com


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,  
    2011     % of Net
Revenues
    2010     % of Net
Revenues
    2011     % of Net
Revenues
    2010     % of Net
Revenues
 

REVENUES:

               

Revenues before reimbursements ("Net revenues")

  $ 6,720,115        100   $ 5,571,017        100   $ 18,819,386        100   $ 16,129,987        100

Reimbursements

    484,240          404,478          1,359,455          1,131,018     
                                       

Revenues

    7,204,355          5,975,495          20,178,841          17,261,005     

OPERATING EXPENSES:

               

Cost of services:

               

Cost of services before reimbursable expenses

    4,410,487        65.6     3,639,367        65.3     12,648,054        67.2     10,724,052        66.5

Reimbursable expenses

    484,240          404,478          1,359,455          1,131,018     
                                       

Cost of services

    4,894,727          4,043,845          14,007,509          11,855,070     

Sales and marketing

    832,374        12.4     714,487        12.8     2,273,624        12.1     1,959,733        12.1

General and administrative costs

    527,442        7.8     410,057        7.4     1,348,667        7.2     1,235,513        7.7

Reorganization costs, net

    396          3,276          1,113          9,478     
                                       

Total operating expenses

    6,254,939          5,171,665          17,630,913          15,059,794     
                                       

OPERATING INCOME

    949,416        14.1     803,830        14.4     2,547,928        13.5     2,201,211        13.6

(Loss) gain on investments, net

    (22       (3       (941       29     

Interest income

    9,861          7,401          29,147          21,375     

Interest expense

    (2,827       (2,061       (11,070       (11,061  

Other income (expense), net

    1,421          (5,887       11,560          (13,779  
                                       

INCOME BEFORE INCOME TAXES

    957,849        14.3     803,280        14.4     2,576,624        13.7     2,197,775        13.6

Provision for income taxes

    258,780          239,761          706,249          647,579     
                                       

NET INCOME

    699,069        10.4     563,519        10.1     1,870,375        9.9     1,550,196        9.6

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

    (64,012       (66,899       (183,276       (199,350  

Net income attributable to noncontrolling interests – other (1)

    (7,044       (6,023       (21,355       (15,672  
                                       

NET INCOME ATTRIBUTABLE TO ACCENTURE PLC

  $ 628,013        9.3   $ 490,597        8.8   $ 1,665,744        8.9   $ 1,335,174        8.3
                                       

CALCULATION OF EARNINGS PER SHARE:

               

Net income attributable to Accenture plc

  $ 628,013        $ 490,597        $ 1,665,744        $ 1,335,174     

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

    64,012          66,899          183,276          199,350     
                                       

Net income for diluted earnings per share calculation

  $ 692,025        $ 557,496        $ 1,849,020        $ 1,534,524     
                                       

EARNINGS PER SHARE:

               

- Basic

  $ 0.96        $ 0.76        $ 2.58        $ 2.10     

- Diluted (3)

  $ 0.93        $ 0.73        $ 2.49        $ 1.99     

WEIGHTED AVERAGE SHARES:

               

- Basic

    651,339,239          641,355,607          645,032,214          637,199,756     

- Diluted (3)

    745,503,329          767,162,321          743,609,589          769,509,074     

Cash dividends per share

  $ 0.45        $ 0.375        $ 0.90        $ 1.125     

 

(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 2010 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  
OPERATING GROUPS    Three Months Ended May 31,      Increase     Local  
   2011      2010      U.S.$     Currency  

Communications & High Tech

   $ 1,443,188       $ 1,178,355         22     16

Financial Services

     1,441,626         1,149,863         25        19   

Health & Public Service

     971,277         926,618         5        3   

Products

     1,575,184         1,307,903         20        14   

Resources

     1,284,116         1,004,056         28        22   

Other

     4,724         4,222         n/m        n/m   
                      

TOTAL Net Revenues

     6,720,115         5,571,017         21     15

Reimbursements

     484,240         404,478         20     
                      

TOTAL REVENUES

   $ 7,204,355       $ 5,975,495         21  
                      

GEOGRAPHY

          

Americas

   $ 2,920,837       $ 2,513,378         16     14

EMEA

     2,934,593         2,433,024         21        13   

Asia Pacific

     864,685         624,615         38        25   
                      

TOTAL Net Revenues

   $ 6,720,115       $ 5,571,017         21     15
                      

TYPE OF WORK

          

Consulting

   $ 3,965,751       $ 3,224,541         23     17

Outsourcing

     2,754,364         2,346,476         17        12   
                      

TOTAL Net Revenues

   $ 6,720,115       $ 5,571,017         21     15
                      
                         Percent  
                   Percent     Increase  
OPERATING GROUPS    Nine Months Ended May 31,      Increase     Local  
   2011      2010      U.S.$     Currency  

Communications & High Tech

   $ 4,002,113       $ 3,447,815         16     15

Financial Services

     4,008,364         3,330,779         20        20   

Health & Public Service

     2,867,489         2,724,693         5        5   

Products

     4,344,871         3,717,538         17        16   

Resources

     3,583,449         2,897,528         24        21   

Other

     13,100         11,634         n/m        n/m   
                      

TOTAL Net Revenues

     18,819,386         16,129,987         17     16

Reimbursements

     1,359,455         1,131,018         20     
                      

TOTAL REVENUES

   $ 20,178,841       $ 17,261,005         17  
                      

GEOGRAPHY

          

Americas

   $ 8,229,667       $ 6,945,686         18     17

EMEA

     8,163,891         7,369,893         11        12   

Asia Pacific

     2,425,828         1,814,408         34        23   
                      

TOTAL Net Revenues

   $ 18,819,386       $ 16,129,987         17     16
                      

TYPE OF WORK

          

Consulting

   $ 11,043,181       $ 9,276,981         19     18

Outsourcing

     7,776,205         6,853,006         13        13   
                      

TOTAL Net Revenues

   $ 18,819,386       $ 16,129,987         17     16
                      

 

n/m = not meaningful


ACCENTURE PLC

OPERATING INCOME BY OPERATING GROUP (OG)

(In thousands of U.S. dollars)

(Unaudited)

 

     Three Months Ended May 31,        
     2011     2010        
OPERATING GROUPS    Operating
Income
     Operating
Margin
    Operating
Income
     Operating
Margin
    Increase
(Decrease)
 

Communications & High Tech

   $ 195,631         14   $ 168,166         14   $ 27,465   

Financial Services

     262,180         18        201,235         18        60,945   

Health & Public Service

     70,363         7        74,530         8        (4,167

Products

     190,501         12        183,780         14        6,721   

Resources

     230,741         18        176,119         18        54,622   
                              

Total

   $ 949,416         14.1   $ 803,830         14.4   $ 145,586   
                              
     Nine Months Ended May 31,        
     2011     2010        
OPERATING GROUPS    Operating
Income
     Operating
Margin
    Operating
Income
     Operating
Margin
    Increase
(Decrease)
 

Communications & High Tech

   $ 539,317         13   $ 454,179         13   $ 85,138   

Financial Services

     710,975         18        581,117         17        129,858   

Health & Public Service

     217,715         8        246,291         9        (28,576

Products

     473,547         11        441,023         12        32,524   

Resources

     606,374         17        478,601         17        127,773   
                              

Total

   $ 2,547,928         13.5   $ 2,201,211         13.6   $ 346,717   
                              


ACCENTURE PLC

CONSOLIDATED BALANCE SHEETS

(In thousands of U.S. dollars)

 

     May 31, 2011      August 31, 2010  
     (Unaudited)         

ASSETS

     

CURRENT ASSETS:

     

Cash and cash equivalents

   $ 5,256,684       $ 4,838,292   

Short-term investments

     4,665         2,987   

Receivables from clients, net

     3,272,697         2,534,598   

Unbilled services, net

     1,423,468         1,127,827   

Other current assets

     1,189,746         1,059,921   
                 

Total current assets

     11,147,260         9,563,625   
                 

NON-CURRENT ASSETS:

     

Unbilled services, net

     51,083         54,310   

Investments

     41,983         41,023   

Property and equipment, net

     740,771         659,569   

Other non-current assets

     2,922,872         2,516,726   
                 

Total non-current assets

     3,756,709         3,271,628   
                 

TOTAL ASSETS

   $ 14,903,969       $ 12,835,253   
                 

LIABILITIES AND SHAREHOLDERS' EQUITY

     

CURRENT LIABILITIES:

     

Current portion of long-term debt and bank borrowings

   $ 4,621       $ 143   

Accounts payable

     862,651         885,328   

Deferred revenues

     2,162,514         1,772,833   

Accrued payroll and related benefits

     2,931,210         2,683,492   

Other accrued liabilities

     1,411,670         1,225,808   
                 

Total current liabilities

     7,372,666         6,567,604   
                 

NON-CURRENT LIABILITIES:

     

Long-term debt

     —           1,445   

Other non-current liabilities

     3,354,871         2,991,481   
                 

Total non-current liabilities

     3,354,871         2,992,926   
                 

TOTAL ACCENTURE PLC SHAREHOLDERS' EQUITY

     3,713,803         2,835,746   

NONCONTROLLING INTERESTS

     462,629         438,977   
                 

TOTAL SHAREHOLDERS' EQUITY

     4,176,432         3,274,723   
                 

TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY

   $ 14,903,969       $ 12,835,253   
                 


ACCENTURE PLC

CONSOLIDATED CASH FLOWS STATEMENTS

(In thousands of U.S. dollars)

(Unaudited)

 

     Three Months Ended May 31,     Nine Months Ended May 31,  
     2011     2010     2011     2010  

CASH FLOWS FROM OPERATING ACTIVITIES:

        

Net income

   $ 699,069      $ 563,519      $ 1,870,375      $ 1,550,196   

Depreciation, amortization and asset impairments

     130,773        116,314        371,916        349,730   

Share-based compensation expense

     125,530        107,213        343,718        326,629   

Change in assets and liabilities/other, net

     397,588        173,877        (525,546     (386,540
                                

Net cash provided by operating activities

     1,352,960        960,923        2,060,463        1,840,015   
                                

CASH FLOWS FROM INVESTING ACTIVITIES:

        

Purchases of property and equipment

     (112,681     (57,750     (266,739     (136,613

Purchases of businesses and investments, net of cash acquired

     (400     (28,441     (118,662     (28,530

Other investing, net

     1,249        (440     3,144        1,298   
                                

Net cash used in investing activities

     (111,832     (86,631     (382,257     (163,845
                                

CASH FLOWS FROM FINANCING ACTIVITIES:

        

Proceeds from issuance of ordinary shares

     186,328        148,813        468,363        391,185   

Purchases of shares

     (643,861     (446,952     (1,441,073     (1,332,479

Cash dividends paid

     (322,992     (272,706     (643,642     (824,148

Other financing, net

     24,055        22,814        109,383        42,822   
                                

Net cash used in financing activities

     (756,470     (548,031     (1,506,969     (1,722,620

Effect of exchange rate changes on cash and cash equivalents

     94,482        (128,901     247,155        (183,101
                                

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS

     579,140        197,360        418,392        (229,551

CASH AND CASH EQUIVALENTS, beginning of period

     4,677,544        4,114,751        4,838,292        4,541,662   
                                

CASH AND CASH EQUIVALENTS, end of period

   $ 5,256,684      $ 4,312,111      $ 5,256,684      $ 4,312,111