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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Accenture Plc | NYSE:ACN | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
6.90 | 2.30% | 307.24 | 304.96 | 301.671 | 302.52 | 2,767,143 | 01:00:00 |
þ
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Ireland
|
98-0627530
|
(State or other jurisdiction of
incorporation or organization)
|
(I.R.S. Employer
Identification No.)
|
Large accelerated filer
þ
|
Accelerated filer
¨
|
Non-accelerated filer
¨
|
Smaller reporting company
¨
|
|
|
(Do not check if a smaller reporting company)
|
|
|
|
|
Page
|
|
May 31,
2016 |
|
August 31,
2015 |
||||
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
||||
CURRENT ASSETS:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
3,497,878
|
|
|
$
|
4,360,766
|
|
Short-term investments
|
2,869
|
|
|
2,448
|
|
||
Receivables from clients, net
|
4,303,642
|
|
|
3,840,920
|
|
||
Unbilled services, net
|
2,136,836
|
|
|
1,884,504
|
|
||
Deferred income taxes, net
|
891,390
|
|
|
879,320
|
|
||
Other current assets
|
743,396
|
|
|
611,436
|
|
||
Total current assets
|
11,576,011
|
|
|
11,579,394
|
|
||
NON-CURRENT ASSETS:
|
|
|
|
||||
Unbilled services, net
|
51,179
|
|
|
15,501
|
|
||
Investments
|
132,427
|
|
|
45,027
|
|
||
Property and equipment, net
|
883,609
|
|
|
801,884
|
|
||
Goodwill
|
3,538,147
|
|
|
2,929,833
|
|
||
Deferred contract costs
|
725,466
|
|
|
655,482
|
|
||
Deferred income taxes, net
|
1,229,695
|
|
|
1,274,019
|
|
||
Other non-current assets
|
1,054,513
|
|
|
964,918
|
|
||
Total non-current assets
|
7,615,036
|
|
|
6,686,664
|
|
||
TOTAL ASSETS
|
$
|
19,191,047
|
|
|
$
|
18,266,058
|
|
LIABILITIES AND SHAREHOLDERS’ EQUITY
|
|
|
|
||||
CURRENT LIABILITIES:
|
|
|
|
||||
Current portion of long-term debt and bank borrowings
|
$
|
2,072
|
|
|
$
|
1,848
|
|
Accounts payable
|
1,133,430
|
|
|
1,151,464
|
|
||
Deferred revenues
|
2,349,050
|
|
|
2,251,617
|
|
||
Accrued payroll and related benefits
|
3,410,777
|
|
|
3,687,468
|
|
||
Accrued consumption taxes
|
364,324
|
|
|
319,350
|
|
||
Income taxes payable
|
378,584
|
|
|
516,827
|
|
||
Deferred income taxes, net
|
50,825
|
|
|
41,193
|
|
||
Other accrued liabilities
|
472,071
|
|
|
562,432
|
|
||
Total current liabilities
|
8,161,133
|
|
|
8,532,199
|
|
||
NON-CURRENT LIABILITIES:
|
|
|
|
||||
Long-term debt
|
26,801
|
|
|
25,587
|
|
||
Deferred revenues
|
771,973
|
|
|
524,455
|
|
||
Retirement obligation
|
1,139,634
|
|
|
1,108,623
|
|
||
Deferred income taxes, net
|
152,882
|
|
|
113,590
|
|
||
Income taxes payable
|
927,952
|
|
|
996,077
|
|
||
Other non-current liabilities
|
304,114
|
|
|
317,956
|
|
||
Total non-current liabilities
|
3,323,356
|
|
|
3,086,288
|
|
||
COMMITMENTS AND CONTINGENCIES
|
|
|
|
||||
SHAREHOLDERS’ EQUITY:
|
|
|
|
||||
Ordinary shares, par value 1.00 euros per share, 40,000 shares authorized and issued as of May 31, 2016 and August 31, 2015
|
57
|
|
|
57
|
|
||
Class A ordinary shares, par value $0.0000225 per share, 20,000,000,000 shares authorized,
814,796,987
and 804,757,785 shares issued as of May 31, 2016 and August 31, 2015, respectively
|
18
|
|
|
18
|
|
||
Class X ordinary shares, par value $0.0000225 per share, 1,000,000,000 shares authorized,
22,186,453
and 23,335,142 shares issued and outstanding as of May 31, 2016 and August 31, 2015, respectively
|
1
|
|
|
1
|
|
||
Restricted share units
|
1,109,891
|
|
|
1,031,203
|
|
||
Additional paid-in capital
|
5,537,224
|
|
|
4,516,810
|
|
||
Treasury shares, at cost: Ordinary, 40,000 shares as of May 31, 2016 and August 31, 2015; Class A ordinary, 192,250,956 and 178,056,462 shares as of May 31, 2016 and August 31, 2015, respectively
|
(13,218,075
|
)
|
|
(11,472,400
|
)
|
||
Retained earnings
|
15,090,815
|
|
|
13,470,008
|
|
||
Accumulated other comprehensive loss
|
(1,392,606
|
)
|
|
(1,411,972
|
)
|
||
Total Accenture plc shareholders’ equity
|
7,127,325
|
|
|
6,133,725
|
|
||
Noncontrolling interests
|
579,233
|
|
|
513,846
|
|
||
Total shareholders’ equity
|
7,706,558
|
|
|
6,647,571
|
|
||
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY
|
$
|
19,191,047
|
|
|
$
|
18,266,058
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
May 31, 2016
|
|
May 31, 2015
|
||||||||
REVENUES:
|
|
|
|
|
|
|
|
||||||||
Revenues before reimbursements (“Net revenues”)
|
$
|
8,434,757
|
|
|
$
|
7,770,382
|
|
|
$
|
24,393,485
|
|
|
$
|
23,159,426
|
|
Reimbursements
|
534,287
|
|
|
504,684
|
|
|
1,438,596
|
|
|
1,390,487
|
|
||||
Revenues
|
8,969,044
|
|
|
8,275,066
|
|
|
25,832,081
|
|
|
24,549,913
|
|
||||
OPERATING EXPENSES:
|
|
|
|
|
|
|
|
||||||||
Cost of services:
|
|
|
|
|
|
|
|
||||||||
Cost of services before reimbursable expenses
|
5,745,205
|
|
|
5,245,477
|
|
|
16,771,598
|
|
|
15,854,592
|
|
||||
Reimbursable expenses
|
534,287
|
|
|
504,684
|
|
|
1,438,596
|
|
|
1,390,487
|
|
||||
Cost of services
|
6,279,492
|
|
|
5,750,161
|
|
|
18,210,194
|
|
|
17,245,079
|
|
||||
Sales and marketing
|
933,770
|
|
|
874,713
|
|
|
2,639,895
|
|
|
2,580,931
|
|
||||
General and administrative costs
|
449,839
|
|
|
452,291
|
|
|
1,366,745
|
|
|
1,317,260
|
|
||||
Pension settlement charge
|
—
|
|
|
64,382
|
|
|
—
|
|
|
64,382
|
|
||||
Total operating expenses
|
7,663,101
|
|
|
7,141,547
|
|
|
22,216,834
|
|
|
21,207,652
|
|
||||
OPERATING INCOME
|
1,305,943
|
|
|
1,133,519
|
|
|
3,615,247
|
|
|
3,342,261
|
|
||||
Interest income
|
7,679
|
|
|
6,441
|
|
|
21,532
|
|
|
25,880
|
|
||||
Interest expense
|
(3,711
|
)
|
|
(4,030
|
)
|
|
(12,306
|
)
|
|
(10,746
|
)
|
||||
Other expense, net
|
(16,207
|
)
|
|
(3,839
|
)
|
|
(33,391
|
)
|
|
(28,326
|
)
|
||||
Gain on sale of business
|
—
|
|
|
—
|
|
|
553,577
|
|
|
—
|
|
||||
INCOME BEFORE INCOME TAXES
|
1,293,704
|
|
|
1,132,091
|
|
|
4,144,659
|
|
|
3,329,069
|
|
||||
Provision for income taxes
|
343,421
|
|
|
281,861
|
|
|
925,837
|
|
|
843,405
|
|
||||
NET INCOME
|
950,283
|
|
|
850,230
|
|
|
3,218,822
|
|
|
2,485,664
|
|
||||
Net income attributable to noncontrolling interests in Accenture Holdings plc and Accenture Canada Holdings Inc.
|
(42,574
|
)
|
|
(46,283
|
)
|
|
(145,529
|
)
|
|
(137,972
|
)
|
||||
Net income attributable to noncontrolling interests – other
|
(10,462
|
)
|
|
(10,250
|
)
|
|
(30,627
|
)
|
|
(31,739
|
)
|
||||
NET INCOME ATTRIBUTABLE TO ACCENTURE PLC
|
$
|
897,247
|
|
|
$
|
793,697
|
|
|
$
|
3,042,666
|
|
|
$
|
2,315,953
|
|
Weighted average Class A ordinary shares:
|
|
|
|
|
|
|
|
||||||||
Basic
|
623,725,913
|
|
|
625,969,418
|
|
|
625,563,431
|
|
|
627,523,298
|
|
||||
Diluted
|
666,403,323
|
|
|
677,825,768
|
|
|
668,525,906
|
|
|
679,719,183
|
|
||||
Earnings per Class A ordinary share:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
1.44
|
|
|
$
|
1.27
|
|
|
$
|
4.86
|
|
|
$
|
3.69
|
|
Diluted
|
$
|
1.41
|
|
|
$
|
1.24
|
|
|
$
|
4.77
|
|
|
$
|
3.61
|
|
Cash dividends per share
|
$
|
1.10
|
|
|
$
|
1.02
|
|
|
$
|
2.20
|
|
|
$
|
2.04
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
May 31, 2016
|
|
May 31, 2015
|
||||||||
NET INCOME
|
$
|
950,283
|
|
|
$
|
850,230
|
|
|
$
|
3,218,822
|
|
|
$
|
2,485,664
|
|
OTHER COMPREHENSIVE INCOME (LOSS), NET OF TAX:
|
|
|
|
|
|
|
|
||||||||
Foreign currency translation
|
86,022
|
|
|
(90,613
|
)
|
|
(52,989
|
)
|
|
(433,613
|
)
|
||||
Defined benefit plans
|
5,557
|
|
|
3,156
|
|
|
13,203
|
|
|
11,285
|
|
||||
Cash flow hedges
|
36,710
|
|
|
(31,921
|
)
|
|
58,512
|
|
|
42,008
|
|
||||
Marketable securities
|
738
|
|
|
—
|
|
|
640
|
|
|
—
|
|
||||
OTHER COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO ACCENTURE PLC
|
129,027
|
|
|
(119,378
|
)
|
|
19,366
|
|
|
(380,320
|
)
|
||||
Other comprehensive income (loss) attributable to noncontrolling interests
|
2,846
|
|
|
998
|
|
|
2,079
|
|
|
10,377
|
|
||||
COMPREHENSIVE INCOME
|
$
|
1,082,156
|
|
|
$
|
731,850
|
|
|
$
|
3,240,267
|
|
|
$
|
2,115,721
|
|
|
|
|
|
|
|
|
|
|
|
||||||
COMPREHENSIVE INCOME ATTRIBUTABLE TO ACCENTURE PLC
|
$
|
1,026,274
|
|
|
$
|
674,319
|
|
|
$
|
3,062,032
|
|
|
$
|
1,935,633
|
|
Comprehensive income attributable to noncontrolling interests
|
55,882
|
|
|
57,531
|
|
|
178,235
|
|
|
180,088
|
|
||||
COMPREHENSIVE INCOME
|
$
|
1,082,156
|
|
|
$
|
731,850
|
|
|
$
|
3,240,267
|
|
|
$
|
2,115,721
|
|
|
Ordinary
Shares
|
|
Class A
Ordinary
Shares
|
|
Class X
Ordinary
Shares
|
|
Restricted
Share
Units
|
|
Additional
Paid-in
Capital
|
|
Treasury Shares
|
|
Retained
Earnings
|
|
Accumulated
Other
Comprehensive
Loss
|
|
Total
Accenture plc
Shareholders’
Equity
|
|
Noncontrolling
Interests
|
|
Total
Shareholders’
Equity
|
||||||||||||||||||||||||||||||||||
|
$
|
|
No.
Shares
|
|
$
|
|
No.
Shares
|
|
$
|
|
No.
Shares
|
|
|
|
$
|
|
No.
Shares
|
|
|
|
|
|
|||||||||||||||||||||||||||||||||
Balance as of August 31, 2015
|
$
|
57
|
|
|
40
|
|
|
$
|
18
|
|
|
804,758
|
|
|
$
|
1
|
|
|
23,335
|
|
|
$
|
1,031,203
|
|
|
$
|
4,516,810
|
|
|
$
|
(11,472,400
|
)
|
|
(178,096
|
)
|
|
$
|
13,470,008
|
|
|
$
|
(1,411,972
|
)
|
|
$
|
6,133,725
|
|
|
$
|
513,846
|
|
|
$
|
6,647,571
|
|
Net income
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,042,666
|
|
|
|
|
3,042,666
|
|
|
176,156
|
|
|
3,218,822
|
|
||||||||||||||||||||||
Other comprehensive loss
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,366
|
|
|
19,366
|
|
|
2,079
|
|
|
21,445
|
|
||||||||||||||||||||||
Income tax benefit on share-based compensation plans
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
104,053
|
|
|
|
|
|
|
|
|
|
|
104,053
|
|
|
|
|
104,053
|
|
|||||||||||||||||||||||
Purchases of Class A ordinary shares
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
78,973
|
|
|
(1,916,254
|
)
|
|
(18,467
|
)
|
|
|
|
|
|
(1,837,281
|
)
|
|
(78,974
|
)
|
|
(1,916,255
|
)
|
||||||||||||||||||||
Share-based compensation expense
|
|
|
|
|
|
|
|
|
|
|
|
|
543,264
|
|
|
41,380
|
|
|
|
|
|
|
|
|
|
|
584,644
|
|
|
|
|
584,644
|
|
||||||||||||||||||||||
Purchases/redemptions of Accenture Holdings plc ordinary shares, Accenture Canada Holdings Inc. exchangeable shares and Class X ordinary shares
|
|
|
|
|
|
|
|
|
|
|
(1,149
|
)
|
|
|
|
(45,979
|
)
|
|
|
|
|
|
|
|
|
|
(45,979
|
)
|
|
(2,816
|
)
|
|
(48,795
|
)
|
|||||||||||||||||||||
Issuances of Class A ordinary shares:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||||||||
Employee share programs
|
|
|
|
|
|
|
9,369
|
|
|
|
|
|
|
(521,396
|
)
|
|
855,513
|
|
|
170,579
|
|
|
4,272
|
|
|
|
|
|
|
504,696
|
|
|
21,296
|
|
|
525,992
|
|
||||||||||||||||||
Upon redemption of Accenture Holdings plc ordinary shares
|
|
|
|
|
|
|
669
|
|
|
|
|
|
|
|
|
3,180
|
|
|
|
|
|
|
|
|
|
|
3,180
|
|
|
(3,180
|
)
|
|
—
|
|
|||||||||||||||||||||
Dividends
|
|
|
|
|
|
|
|
|
|
|
|
|
51,814
|
|
|
|
|
|
|
|
|
(1,423,993
|
)
|
|
|
|
(1,372,179
|
)
|
|
(65,959
|
)
|
|
(1,438,138
|
)
|
|||||||||||||||||||||
Other, net
|
|
|
|
|
|
|
|
|
|
|
|
|
5,006
|
|
|
(16,706
|
)
|
|
|
|
|
|
2,134
|
|
|
|
|
(9,566
|
)
|
|
16,785
|
|
|
7,219
|
|
||||||||||||||||||||
Balance as of May 31, 2016
|
$
|
57
|
|
|
40
|
|
|
$
|
18
|
|
|
814,796
|
|
|
$
|
1
|
|
|
22,186
|
|
|
$
|
1,109,891
|
|
|
$
|
5,537,224
|
|
|
$
|
(13,218,075
|
)
|
|
(192,291
|
)
|
|
$
|
15,090,815
|
|
|
$
|
(1,392,606
|
)
|
|
$
|
7,127,325
|
|
|
$
|
579,233
|
|
|
$
|
7,706,558
|
|
|
May 31, 2016
|
|
May 31, 2015
|
||||
CASH FLOWS FROM OPERATING ACTIVITIES:
|
|
|
|
||||
Net income
|
$
|
3,218,822
|
|
|
$
|
2,485,664
|
|
Adjustments to reconcile Net income to Net cash provided by operating activities —
|
|
|
|
||||
Depreciation, amortization and asset impairments
|
535,637
|
|
|
472,160
|
|
||
Share-based compensation expense
|
584,644
|
|
|
531,691
|
|
||
Gain on sale of business
|
(553,577
|
)
|
|
—
|
|
||
Deferred income taxes, net
|
(35,620
|
)
|
|
(124,961
|
)
|
||
Other, net
|
(45,985
|
)
|
|
(244,399
|
)
|
||
Change in assets and liabilities, net of acquisitions —
|
|
|
|
||||
Receivables from clients, net
|
(429,085
|
)
|
|
(68,144
|
)
|
||
Unbilled services, current and non-current, net
|
(166,228
|
)
|
|
(245,320
|
)
|
||
Other current and non-current assets
|
(449,271
|
)
|
|
(281,731
|
)
|
||
Accounts payable
|
(61,342
|
)
|
|
14,927
|
|
||
Deferred revenues, current and non-current
|
273,399
|
|
|
93,404
|
|
||
Accrued payroll and related benefits
|
(254,433
|
)
|
|
181,678
|
|
||
Income taxes payable, current and non-current
|
(162,970
|
)
|
|
(184,803
|
)
|
||
Other current and non-current liabilities
|
65,685
|
|
|
(42,615
|
)
|
||
Net cash provided by operating activities
|
2,519,676
|
|
|
2,587,551
|
|
||
CASH FLOWS FROM INVESTING ACTIVITIES:
|
|
|
|
||||
Proceeds from sales of property and equipment
|
2,860
|
|
|
2,734
|
|
||
Purchases of property and equipment
|
(336,500
|
)
|
|
(246,980
|
)
|
||
Purchases of businesses and investments, net of cash acquired
|
(832,548
|
)
|
|
(442,202
|
)
|
||
Proceeds from the sale of businesses and investments, net of cash transferred
|
618,310
|
|
|
10,553
|
|
||
Net cash used in investing activities
|
(547,878
|
)
|
|
(675,895
|
)
|
||
CASH FLOWS FROM FINANCING ACTIVITIES:
|
|
|
|
||||
Proceeds from issuance of ordinary shares
|
525,992
|
|
|
496,339
|
|
||
Purchases of shares
|
(1,965,050
|
)
|
|
(1,788,974
|
)
|
||
Proceeds from long-term debt, net
|
586
|
|
|
484
|
|
||
Cash dividends paid
|
(1,438,138
|
)
|
|
(1,353,471
|
)
|
||
Excess tax benefits from share-based payment arrangements
|
81,765
|
|
|
69,185
|
|
||
Other, net
|
(13,950
|
)
|
|
(17,500
|
)
|
||
Net cash used in financing activities
|
(2,808,795
|
)
|
|
(2,593,937
|
)
|
||
Effect of exchange rate changes on cash and cash equivalents
|
(25,891
|
)
|
|
(212,835
|
)
|
||
NET DECREASE IN CASH AND CASH EQUIVALENTS
|
(862,888
|
)
|
|
(895,116
|
)
|
||
CASH AND CASH EQUIVALENTS,
beginning of period
|
4,360,766
|
|
|
4,921,305
|
|
||
CASH AND CASH EQUIVALENTS,
end of period
|
$
|
3,497,878
|
|
|
$
|
4,026,189
|
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
May 31, 2016
|
|
May 31, 2015
|
||||||||
Basic Earnings per share
|
|
|
|
|
|
|
|
||||||||
Net income attributable to Accenture plc
|
$
|
897,247
|
|
|
$
|
793,697
|
|
|
$
|
3,042,666
|
|
|
$
|
2,315,953
|
|
Basic weighted average Class A ordinary shares
|
623,725,913
|
|
|
625,969,418
|
|
|
625,563,431
|
|
|
627,523,298
|
|
||||
Basic earnings per share
|
$
|
1.44
|
|
|
$
|
1.27
|
|
|
$
|
4.86
|
|
|
$
|
3.69
|
|
Diluted Earnings per share
|
|
|
|
|
|
|
|
||||||||
Net income attributable to Accenture plc
|
$
|
897,247
|
|
|
$
|
793,697
|
|
|
$
|
3,042,666
|
|
|
$
|
2,315,953
|
|
Net income attributable to noncontrolling interests
in Accenture Holdings plc and Accenture Canada Holdings Inc. (1) |
42,574
|
|
|
46,283
|
|
|
145,529
|
|
|
137,972
|
|
||||
Net income for diluted earnings per share calculation
|
$
|
939,821
|
|
|
$
|
839,980
|
|
|
$
|
3,188,195
|
|
|
$
|
2,453,925
|
|
Basic weighted average Class A ordinary shares
|
623,725,913
|
|
|
625,969,418
|
|
|
625,563,431
|
|
|
627,523,298
|
|
||||
Class A ordinary shares issuable upon redemption/exchange of noncontrolling interests (1)
|
29,561,512
|
|
|
36,484,854
|
|
|
29,908,025
|
|
|
37,362,504
|
|
||||
Diluted effect of employee compensation related to Class A ordinary shares
|
13,053,727
|
|
|
15,309,466
|
|
|
12,970,542
|
|
|
14,746,871
|
|
||||
Diluted effect of share purchase plans related to Class A ordinary shares
|
62,171
|
|
|
62,030
|
|
|
83,908
|
|
|
86,510
|
|
||||
Diluted weighted average Class A ordinary shares
|
666,403,323
|
|
|
677,825,768
|
|
|
668,525,906
|
|
|
679,719,183
|
|
||||
Diluted earnings per share
|
$
|
1.41
|
|
|
$
|
1.24
|
|
|
$
|
4.77
|
|
|
$
|
3.61
|
|
(1)
|
Diluted earnings per share assumes the redemption of all Accenture Holdings plc ordinary 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. The income effect does not take into account “Net income attributable to noncontrolling interests — other,” since those shares are not redeemable or exchangeable for Accenture plc Class A ordinary shares.
|
|
Three Months Ended
|
|
Nine Months Ended
|
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
May 31, 2016
|
|
May 31, 2015
|
||||||||
Foreign currency translation
|
|
|
|
|
|
|
|
||||||||
Beginning balance
|
$
|
(992,515
|
)
|
|
$
|
(667,596
|
)
|
|
$
|
(853,504
|
)
|
|
$
|
(324,596
|
)
|
Foreign currency translation
|
92,038
|
|
|
(87,630
|
)
|
|
(50,635
|
)
|
|
(429,264
|
)
|
||||
Income tax (expense) benefit
|
(5,170
|
)
|
|
(229
|
)
|
|
(3,677
|
)
|
|
2,962
|
|
||||
Portion attributable to noncontrolling interests
|
(846
|
)
|
|
(2,754
|
)
|
|
1,323
|
|
|
(7,311
|
)
|
||||
Foreign currency translation, net of tax
|
86,022
|
|
|
(90,613
|
)
|
|
(52,989
|
)
|
|
(433,613
|
)
|
||||
Ending balance
|
(906,493
|
)
|
|
(758,209
|
)
|
|
(906,493
|
)
|
|
(758,209
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Defined benefit plans
|
|
|
|
|
|
|
|
||||||||
Beginning balance
|
(515,973
|
)
|
|
(523,014
|
)
|
|
(523,619
|
)
|
|
(531,143
|
)
|
||||
Actuarial losses
|
—
|
|
|
(67,090
|
)
|
|
—
|
|
|
(67,090
|
)
|
||||
Pension settlement
|
—
|
|
|
64,382
|
|
|
—
|
|
|
64,382
|
|
||||
Reclassifications into net periodic pension and
post-retirement expense (1) |
6,633
|
|
|
7,863
|
|
|
19,838
|
|
|
21,172
|
|
||||
Income tax expense
|
(820
|
)
|
|
(1,828
|
)
|
|
(6,014
|
)
|
|
(6,530
|
)
|
||||
Portion attributable to noncontrolling interests
|
(256
|
)
|
|
(171
|
)
|
|
(621
|
)
|
|
(649
|
)
|
||||
Defined benefit plans, net of tax
|
5,557
|
|
|
3,156
|
|
|
13,203
|
|
|
11,285
|
|
||||
Ending balance
|
(510,416
|
)
|
|
(519,858
|
)
|
|
(510,416
|
)
|
|
(519,858
|
)
|
||||
|
|
|
|
|
|
|
|
||||||||
Cash flow hedges
|
|
|
|
|
|
|
|
||||||||
Beginning balance
|
(11,486
|
)
|
|
57,720
|
|
|
(33,288
|
)
|
|
(16,209
|
)
|
||||
Unrealized gains (losses)
|
74,580
|
|
|
(42,442
|
)
|
|
99,328
|
|
|
75,374
|
|
||||
Reclassification adjustments into Cost of
services |
(9,607
|
)
|
|
(8,736
|
)
|
|
(5,628
|
)
|
|
(13,458
|
)
|
||||
Income tax (expense) benefit
|
(26,554
|
)
|
|
17,330
|
|
|
(32,437
|
)
|
|
(17,491
|
)
|
||||
Portion attributable to noncontrolling interests
|
(1,709
|
)
|
|
1,927
|
|
|
(2,751
|
)
|
|
(2,417
|
)
|
||||
Cash flow hedges, net of tax
|
36,710
|
|
|
(31,921
|
)
|
|
58,512
|
|
|
42,008
|
|
||||
Ending balance (2)
|
25,224
|
|
|
25,799
|
|
|
25,224
|
|
|
25,799
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Marketable securities
|
|
|
|
|
|
|
|
||||||||
Beginning balance
|
(1,659
|
)
|
|
—
|
|
|
(1,561
|
)
|
|
—
|
|
||||
Unrealized gains
|
1,264
|
|
|
—
|
|
|
1,094
|
|
|
—
|
|
||||
Income tax expense
|
(491
|
)
|
|
—
|
|
|
(424
|
)
|
|
—
|
|
||||
Portion attributable to noncontrolling interests
|
(35
|
)
|
|
—
|
|
|
(30
|
)
|
|
—
|
|
||||
Marketable securities, net of tax
|
738
|
|
|
—
|
|
|
640
|
|
|
—
|
|
||||
Ending balance
|
(921
|
)
|
|
—
|
|
|
(921
|
)
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Accumulated other comprehensive loss
|
$
|
(1,392,606
|
)
|
|
$
|
(1,252,268
|
)
|
|
$
|
(1,392,606
|
)
|
|
$
|
(1,252,268
|
)
|
(1)
|
Reclassifications into net periodic pension and post-retirement expense are recognized in Cost of services, Sales and marketing and General and administrative costs.
|
(2)
|
As of
May 31, 2016
,
$32,458
of net unrealized gains related to derivatives designated as cash flow hedges is expected to be reclassified into Cost of services in the next 12 months.
|
|
August 31,
2015 |
|
Additions/
Adjustments |
|
Foreign
Currency Translation |
|
May 31,
2016 |
||||||||
Communications, Media & Technology
|
$
|
364,824
|
|
|
$
|
150,527
|
|
|
$
|
(4,807
|
)
|
|
$
|
510,544
|
|
Financial Services
|
713,430
|
|
|
159,044
|
|
|
(4,313
|
)
|
|
868,161
|
|
||||
Health & Public Service
|
588,893
|
|
|
130,583
|
|
|
(1,715
|
)
|
|
717,761
|
|
||||
Products
|
1,001,768
|
|
|
75,014
|
|
|
(9,750
|
)
|
|
1,067,032
|
|
||||
Resources
|
260,918
|
|
|
116,148
|
|
|
(2,417
|
)
|
|
374,649
|
|
||||
Total
|
$
|
2,929,833
|
|
|
$
|
631,316
|
|
|
$
|
(23,002
|
)
|
|
$
|
3,538,147
|
|
|
|
May 31, 2016
|
|
August 31, 2015
|
||||||||||||||||||||
Intangible Asset Class
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
|
Gross Carrying Amount
|
|
Accumulated Amortization
|
|
Net Carrying Amount
|
||||||||||||
Customer-related
|
|
$
|
523,286
|
|
|
$
|
(155,462
|
)
|
|
$
|
367,824
|
|
|
$
|
449,219
|
|
|
$
|
(120,841
|
)
|
|
$
|
328,378
|
|
Technology
|
|
121,184
|
|
|
(60,871
|
)
|
|
60,313
|
|
|
104,824
|
|
|
(44,988
|
)
|
|
59,836
|
|
||||||
Patents
|
|
118,895
|
|
|
(58,104
|
)
|
|
60,791
|
|
|
114,979
|
|
|
(54,064
|
)
|
|
60,915
|
|
||||||
Other
|
|
32,700
|
|
|
(16,224
|
)
|
|
16,476
|
|
|
31,480
|
|
|
(15,702
|
)
|
|
15,778
|
|
||||||
Total
|
|
$
|
796,065
|
|
|
$
|
(290,661
|
)
|
|
$
|
505,404
|
|
|
$
|
700,502
|
|
|
$
|
(235,595
|
)
|
|
$
|
464,907
|
|
Fiscal Year
|
|
Estimated Amortization
|
||
Remainder of 2016
|
|
$
|
28,747
|
|
2017
|
|
102,493
|
|
|
2018
|
|
88,808
|
|
|
2019
|
|
68,709
|
|
|
2020
|
|
60,140
|
|
|
Thereafter
|
|
156,507
|
|
|
Total
|
|
$
|
505,404
|
|
|
|
Dividend Per
Share |
|
Accenture plc Class A
Ordinary Shares |
|
Accenture Holdings plc Ordinary
Shares and Accenture Canada Holdings Inc. Exchangeable Shares |
|
Total Cash
Outlay |
||||||||||||
Dividend Payment Date
|
|
|
Record Date
|
|
Cash Outlay
|
|
Record Date
|
|
Cash Outlay
|
|
||||||||||
November 13, 2015
|
|
$
|
1.10
|
|
|
October 16, 2015
|
|
$
|
687,285
|
|
|
October 13, 2015
|
|
$
|
33,391
|
|
|
$
|
720,676
|
|
May 13, 2016
|
|
1.10
|
|
|
April 15, 2016
|
|
684,894
|
|
|
April 12, 2016
|
|
32,568
|
|
|
717,462
|
|
||||
Total Dividends
|
|
|
|
|
|
$
|
1,372,179
|
|
|
|
|
$
|
65,959
|
|
|
$
|
1,438,138
|
|
|
May 31,
2016 |
|
August 31,
2015 |
||||
Assets
|
|
|
|
||||
Cash Flow Hedges
|
|
|
|
||||
Other current assets
|
$
|
47,354
|
|
|
$
|
28,282
|
|
Other non-current assets
|
18,976
|
|
|
13,503
|
|
||
Other Derivatives
|
|
|
|
||||
Other current assets
|
16,941
|
|
|
18,233
|
|
||
Total assets
|
$
|
83,271
|
|
|
$
|
60,018
|
|
Liabilities
|
|
|
|
||||
Cash Flow Hedges
|
|
|
|
||||
Other accrued liabilities
|
$
|
14,896
|
|
|
$
|
48,683
|
|
Other non-current liabilities
|
13,811
|
|
|
48,746
|
|
||
Other Derivatives
|
|
|
|
||||
Other accrued liabilities
|
30,132
|
|
|
31,862
|
|
||
Total liabilities
|
$
|
58,839
|
|
|
$
|
129,291
|
|
Total fair value
|
$
|
24,432
|
|
|
$
|
(69,273
|
)
|
Total notional value
|
$
|
7,161,572
|
|
|
$
|
6,363,110
|
|
|
May 31,
2016 |
|
August 31,
2015 |
||||
Net derivative assets
|
$
|
52,930
|
|
|
$
|
36,661
|
|
Net derivative liabilities
|
28,498
|
|
|
105,934
|
|
||
Total fair value
|
$
|
24,432
|
|
|
$
|
(69,273
|
)
|
|
Three Months Ended
|
||||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
||||||||||||
|
Net
Revenues |
|
Operating
Income |
|
Net
Revenues |
|
Operating
Income |
||||||||
Communications, Media & Technology
|
$
|
1,707,707
|
|
|
$
|
259,344
|
|
|
$
|
1,613,478
|
|
|
$
|
237,902
|
|
Financial Services
|
1,804,876
|
|
|
294,367
|
|
|
1,638,313
|
|
|
265,863
|
|
||||
Health & Public Service
|
1,539,496
|
|
|
243,137
|
|
|
1,383,639
|
|
|
202,644
|
|
||||
Products
|
2,158,070
|
|
|
346,165
|
|
|
1,883,200
|
|
|
255,162
|
|
||||
Resources
|
1,220,809
|
|
|
162,930
|
|
|
1,247,851
|
|
|
171,948
|
|
||||
Other
|
3,799
|
|
|
—
|
|
|
3,901
|
|
|
—
|
|
||||
Total
|
$
|
8,434,757
|
|
|
$
|
1,305,943
|
|
|
$
|
7,770,382
|
|
|
$
|
1,133,519
|
|
|
Nine Months Ended
|
||||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
||||||||||||
|
Net
Revenues |
|
Operating
Income |
|
Net
Revenues |
|
Operating
Income |
||||||||
Communications, Media & Technology
|
$
|
4,919,046
|
|
|
$
|
749,729
|
|
|
$
|
4,711,300
|
|
|
$
|
628,320
|
|
Financial Services
|
5,234,821
|
|
|
847,686
|
|
|
4,944,075
|
|
|
791,606
|
|
||||
Health & Public Service
|
4,445,627
|
|
|
625,510
|
|
|
4,071,998
|
|
|
568,277
|
|
||||
Products
|
6,142,723
|
|
|
923,724
|
|
|
5,664,484
|
|
|
816,720
|
|
||||
Resources
|
3,639,890
|
|
|
468,598
|
|
|
3,755,158
|
|
|
537,338
|
|
||||
Other
|
11,378
|
|
|
—
|
|
|
12,411
|
|
|
—
|
|
||||
Total
|
$
|
24,393,485
|
|
|
$
|
3,615,247
|
|
|
$
|
23,159,426
|
|
|
$
|
3,342,261
|
|
•
|
Our results of operations could be adversely affected by volatile, negative or uncertain economic conditions and the effects of these conditions on our clients’ businesses and levels of business activity.
|
•
|
Our business depends on generating and maintaining ongoing, profitable client demand for our services and solutions, and a significant reduction in such demand could materially affect our results of operations.
|
•
|
If we are unable to keep our supply of skills and resources in balance with client demand around the world and attract and retain professionals with strong leadership skills, our business, the utilization rate of our professionals and our results of operations may be materially adversely affected.
|
•
|
The markets in which we compete are highly competitive, and we might not be able to compete effectively.
|
•
|
We could have liability or our reputation could be damaged if we fail to protect client and/or Accenture data or information systems as obligated by law or contract or if our information systems are breached.
|
•
|
Our results of operations and ability to grow could be materially negatively affected if we cannot adapt and expand our services and solutions in response to ongoing changes in technology and offerings by new entrants.
|
•
|
Our results of operations could materially suffer if we are not able to obtain sufficient pricing to enable us to meet our profitability expectations.
|
•
|
If we do not accurately anticipate the cost, risk and complexity of performing our work or if third parties upon whom we rely do not meet their commitments, then our contracts could have delivery inefficiencies and be less profitable than expected or unprofitable.
|
•
|
Our results of operations could be materially adversely affected by fluctuations in foreign currency exchange rates.
|
•
|
Our profitability could suffer if our cost-management strategies are unsuccessful, and we may not be able to improve our profitability through improvements to cost-management to the degree we have done in the past.
|
•
|
Our business could be materially adversely affected if we incur legal liability.
|
•
|
Our work with government clients exposes us to additional risks inherent in the government contracting environment.
|
•
|
We might not be successful at identifying, acquiring or integrating businesses, entering into joint ventures or divesting businesses.
|
•
|
Our Global Delivery Network is increasingly concentrated in India and the Philippines, which may expose us to operational risks.
|
•
|
Changes in our level of taxes, as well as audits, investigations and tax proceedings, or changes in our treatment as an Irish company, could have a material adverse effect on our results of operations and financial condition.
|
•
|
As a result of our geographically diverse operations and our growth strategy to continue geographic expansion, we are more susceptible to certain risks.
|
•
|
Adverse changes to our relationships with key alliance partners or in the business of our key alliance partners could adversely affect our results of operations.
|
•
|
Our services or solutions could infringe upon the intellectual property rights of others or we might lose our ability to utilize the intellectual property of others.
|
•
|
If we are unable to protect our intellectual property rights from unauthorized use or infringement by third parties, our business could be adversely affected.
|
•
|
Our ability to attract and retain business and employees may depend on our reputation in the marketplace.
|
•
|
If we are unable to manage the organizational challenges associated with our size, we might be unable to achieve our business objectives.
|
•
|
We make estimates and assumptions in connection with the preparation of our consolidated financial statements, and any changes to those estimates and assumptions could adversely affect our financial results.
|
•
|
Many of our contracts include payments that link some of our fees to the attainment of performance or business targets and/or require us to meet specific service levels. This could increase the variability of our revenues and impact our margins.
|
•
|
If we are unable to collect our receivables or unbilled services, our results of operations, financial condition and cash flows could be adversely affected.
|
•
|
Our results of operations and share price could be adversely affected if we are unable to maintain effective internal controls.
|
•
|
We are incorporated in Ireland and a significant portion of our assets are located outside the United States. As a result, it might not be possible for shareholders to enforce civil liability provisions of the federal or state securities laws of the United States. We may also be subject to criticism and negative publicity related to our incorporation in Ireland.
|
•
|
Irish law differs from the laws in effect in the United States and might afford less protection to shareholders.
|
•
|
We might be unable to access additional capital on favorable terms or at all. If we raise equity capital, it may dilute our shareholders’ ownership interest in us.
|
|
Three Months Ended
|
|
Percent
Increase (Decrease) U.S. Dollars |
|
Percent
Increase Local Currency |
|
Percent of Total Net Revenues
for the Three Months Ended |
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
|
|
May 31, 2016
|
|
May 31, 2015
|
||||||||||
|
(in millions of U.S. dollars)
|
|
|
|
|
|
|
|
|
||||||||||
OPERATING GROUPS
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Communications, Media & Technology
|
$
|
1,708
|
|
|
$
|
1,613
|
|
|
6
|
%
|
|
8
|
%
|
|
20
|
%
|
|
21
|
%
|
Financial Services
|
1,805
|
|
|
1,638
|
|
|
10
|
|
|
12
|
|
|
21
|
|
|
21
|
|
||
Health & Public Service
|
1,539
|
|
|
1,384
|
|
|
11
|
|
|
12
|
|
|
18
|
|
|
18
|
|
||
Products
|
2,158
|
|
|
1,883
|
|
|
15
|
|
|
16
|
|
|
26
|
|
|
24
|
|
||
Resources
|
1,221
|
|
|
1,248
|
|
|
(2
|
)
|
|
1
|
|
|
15
|
|
|
16
|
|
||
Other
|
4
|
|
|
4
|
|
|
n/m
|
|
|
n/m
|
|
|
—
|
|
|
—
|
|
||
TOTAL NET REVENUES
|
8,435
|
|
|
7,770
|
|
|
9
|
%
|
|
10
|
%
|
|
100
|
%
|
|
100
|
%
|
||
Reimbursements
|
534
|
|
|
505
|
|
|
6
|
|
|
|
|
|
|
|
|||||
TOTAL REVENUES
|
$
|
8,969
|
|
|
$
|
8,275
|
|
|
8
|
%
|
|
|
|
|
|
|
|||
GEOGRAPHIC REGIONS
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
North America
|
$
|
4,017
|
|
|
$
|
3,644
|
|
|
10
|
%
|
|
11
|
%
|
|
48
|
%
|
|
47
|
%
|
Europe
|
2,946
|
|
|
2,653
|
|
|
11
|
|
|
12
|
|
|
35
|
|
|
34
|
|
||
Growth Markets
|
1,472
|
|
|
1,473
|
|
|
—
|
|
|
6
|
|
|
17
|
|
|
19
|
|
||
TOTAL NET REVENUES
|
$
|
8,435
|
|
|
$
|
7,770
|
|
|
9
|
%
|
|
10
|
%
|
|
100
|
%
|
|
100
|
%
|
TYPE OF WORK
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Consulting
|
$
|
4,621
|
|
|
$
|
4,112
|
|
|
12
|
%
|
|
14
|
%
|
|
55
|
%
|
|
53
|
%
|
Outsourcing
|
3,813
|
|
|
3,658
|
|
|
4
|
|
|
6
|
|
|
45
|
|
|
47
|
|
||
TOTAL NET REVENUES
|
$
|
8,435
|
|
|
$
|
7,770
|
|
|
9
|
%
|
|
10
|
%
|
|
100
|
%
|
|
100
|
%
|
•
|
Communications, Media & Technology net revenues increased
8%
in local currency. Consulting revenues reflected very strong growth, driven by Electronics & High Tech across all geographic regions and Media & Entertainment in North America and Europe. Outsourcing revenue growth was driven by Media & Entertainment and Electronics & High Tech in North America, partially offset by declines in Communications in Europe and North America.
|
•
|
Financial Services net revenues increased
12%
in local currency. Consulting revenues reflected significant growth driven by Banking & Capital Markets in Europe and Insurance in North America. Outsourcing revenue growth was driven by Banking & Capital Markets in North America and Growth Markets.
|
•
|
Health & Public Service net revenues increased
12%
in local currency. Consulting revenues reflected very strong growth, driven by both industry groups in North America and Growth Markets. Outsourcing revenues reflected very strong growth, driven by both industry groups in North America and Public Service in Growth Markets.
|
•
|
Products net revenues increased
16%
in local currency. Consulting revenues reflected very significant growth, driven by growth across all industry groups and geographic regions. Outsourcing revenues reflected modest growth, driven by Industrial in Europe and Life Sciences in North America, partially offset by declines in Consumer Goods, Retail & Travel Services across all geographic regions, including the impact of the Navitaire divestiture.
|
•
|
Resources net revenues increased
1%
in local currency. Outsourcing revenues reflected modest growth, led by Utilities across all geographic regions, partially offset by declines in Energy across all geographic regions. Consulting revenues reflected a slight decline, as growth in Utilities across all geographic regions was more than offset by declines in Chemicals & Natural Resources in all geographic regions and Energy in Growth Markets.
|
•
|
North America net revenues increased
11%
in local currency, driven by the United States.
|
•
|
Europe net revenues increased
12%
in local currency, driven by the United Kingdom, Switzerland, Italy, Spain, Germany and France.
|
•
|
Growth Markets net revenues increased
6%
in local currency, led by Japan, as well as China, India and Mexico.
|
|
Three Months Ended
|
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
||||||||||
|
Operating
Income |
|
Operating
Margin |
|
Operating
Income |
|
Operating
Margin |
||||||
|
(in millions of U.S. dollars)
|
||||||||||||
Communications, Media & Technology
|
$
|
259
|
|
|
15
|
%
|
|
$
|
238
|
|
|
15
|
%
|
Financial Services
|
294
|
|
|
16
|
|
|
266
|
|
|
16
|
|
||
Health & Public Service
|
243
|
|
|
16
|
|
|
203
|
|
|
15
|
|
||
Products
|
346
|
|
|
16
|
|
|
255
|
|
|
14
|
|
||
Resources
|
163
|
|
|
13
|
|
|
172
|
|
|
14
|
|
||
Total
|
$
|
1,306
|
|
|
15.5
|
%
|
|
$
|
1,134
|
|
|
14.6
|
%
|
|
Three Months Ended
|
|
|
||||||||||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
|
||||||||||||||||||
|
Operating Income and Operating Margin as Reported (GAAP)
|
|
|
|
Operating Income and Operating Margin
Excluding Pension Settlement Charge (Non-GAAP) |
|
|
||||||||||||||||
|
|
|
|
|
|
||||||||||||||||||
|
Operating Income
|
|
Operating Margin
|
|
Operating Income (GAAP)
|
|
Pension Settlement Charge (1)
|
|
Operating Income
(Adjusted) |
|
Operating Margin
(Adjusted) |
|
Increase (Decrease)
|
||||||||||
|
(in millions of U.S. dollars)
|
||||||||||||||||||||||
Communications, Media & Technology
|
$
|
259
|
|
|
15%
|
|
$
|
238
|
|
|
$
|
13
|
|
|
$
|
250
|
|
|
16%
|
|
$
|
9
|
|
Financial Services
|
294
|
|
|
16
|
|
266
|
|
|
13
|
|
|
279
|
|
|
17
|
|
15
|
|
|||||
Health & Public Service
|
243
|
|
|
16
|
|
203
|
|
|
12
|
|
|
214
|
|
|
15
|
|
29
|
|
|||||
Products
|
346
|
|
|
16
|
|
255
|
|
|
16
|
|
|
271
|
|
|
14
|
|
75
|
|
|||||
Resources
|
163
|
|
|
13
|
|
172
|
|
|
11
|
|
|
183
|
|
|
15
|
|
(20
|
)
|
|||||
Total
|
$
|
1,306
|
|
|
15.5%
|
|
$
|
1,134
|
|
|
$
|
64
|
|
|
$
|
1,198
|
|
|
15.4%
|
|
$
|
108
|
|
(1)
|
Represents pension settlement charge related to lump sum cash payment from plan assets offered to eligible former employees.
|
•
|
Communications, Media & Technology operating income increased primarily due to consulting revenue growth and higher outsourcing contract profitability, partially offset by higher sales and marketing costs as a percentage of net revenues.
|
•
|
Financial Services operating income increased primarily due to consulting revenue growth, partially offset by lower outsourcing contract profitability.
|
•
|
Health & Public Service operating income increased due to revenue growth and higher outsourcing contract profitability.
|
•
|
Products operating income increased due to very significant consulting revenue growth and lower sales and marketing costs as a percentage of net revenues, partially offset by lower outsourcing contract profitability.
|
•
|
Resources operating income decreased primarily due to lower outsourcing contract profitability, partially offset by lower sales and marketing costs as a percentage of net revenues.
|
|
Nine Months Ended
|
|
Percent
Increase(Decrease) U.S. Dollars |
|
Percent
Increase Local Currency |
|
Percent of Total Net Revenues
for the Nine Months Ended |
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
|
|
May 31, 2016
|
|
May 31, 2015
|
||||||||||
|
(in millions of U.S. dollars)
|
|
|
|
|
|
|
|
|
||||||||||
OPERATING GROUPS
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Communications, Media & Technology
|
$
|
4,919
|
|
|
$
|
4,711
|
|
|
4
|
%
|
|
11
|
%
|
|
20
|
%
|
|
20
|
%
|
Financial Services
|
5,235
|
|
|
4,944
|
|
|
6
|
|
|
12
|
|
|
22
|
|
|
21
|
|
||
Health & Public Service
|
4,446
|
|
|
4,072
|
|
|
9
|
|
|
12
|
|
|
18
|
|
|
18
|
|
||
Products
|
6,143
|
|
|
5,664
|
|
|
8
|
|
|
14
|
|
|
25
|
|
|
25
|
|
||
Resources
|
3,640
|
|
|
3,755
|
|
|
(3
|
)
|
|
3
|
|
|
15
|
|
|
16
|
|
||
Other
|
11
|
|
|
12
|
|
|
n/m
|
|
|
n/m
|
|
|
—
|
|
|
—
|
|
||
TOTAL NET REVENUES
|
24,393
|
|
|
23,159
|
|
|
5
|
%
|
|
11
|
%
|
|
100
|
%
|
|
100
|
%
|
||
Reimbursements
|
1,439
|
|
|
1,390
|
|
|
3
|
|
|
|
|
|
|
|
|||||
TOTAL REVENUES
|
$
|
25,832
|
|
|
$
|
24,550
|
|
|
5
|
%
|
|
|
|
|
|
|
|||
GEOGRAPHIC REGIONS
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
North America
|
$
|
11,571
|
|
|
$
|
10,494
|
|
|
10
|
%
|
|
11
|
%
|
|
48
|
%
|
|
45
|
%
|
Europe
|
8,616
|
|
|
8,218
|
|
|
5
|
|
|
13
|
|
|
35
|
|
|
36
|
|
||
Growth Markets
|
4,207
|
|
|
4,447
|
|
|
(5
|
)
|
|
7
|
|
|
17
|
|
|
19
|
|
||
TOTAL NET REVENUES
|
$
|
24,393
|
|
|
$
|
23,159
|
|
|
5
|
%
|
|
11
|
%
|
|
100
|
%
|
|
100
|
%
|
TYPE OF WORK
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Consulting
|
$
|
13,260
|
|
|
$
|
12,044
|
|
|
10
|
%
|
|
16
|
%
|
|
54
|
%
|
|
52
|
%
|
Outsourcing
|
11,133
|
|
|
11,115
|
|
|
—
|
|
|
6
|
|
|
46
|
|
|
48
|
|
||
TOTAL NET REVENUES
|
$
|
24,393
|
|
|
$
|
23,159
|
|
|
5
|
%
|
|
11
|
%
|
|
100
|
%
|
|
100
|
%
|
•
|
Communications, Media & Technology net revenues increased
11%
in local currency. Consulting revenues reflected significant growth, driven by growth across all industry groups and geographic regions, led by Communications and Electronics & High Tech. Outsourcing revenue growth was driven by Media & Entertainment and Electronics & High Tech in North America, partially offset by a decline in Communications in North America.
|
•
|
Financial Services net revenues increased
12%
in local currency. Consulting revenues reflected significant growth, driven by Banking & Capital Markets in Europe and Insurance across all geographic regions. Outsourcing revenues reflected modest growth, driven by both industry groups in Growth Markets and Banking & Capital Markets in North America.
|
•
|
Health & Public Service net revenues increased
12%
in local currency. Consulting revenues reflected strong growth, driven by both industry groups in North America and Health in Growth Markets. Outsourcing revenues reflected very strong growth, driven by both industry groups in North America and Public Service in Growth Markets.
|
•
|
Products net revenues increased
14%
in local currency. Consulting revenues reflected very significant growth, driven by growth across all industry groups and geographic regions. Outsourcing revenues reflected modest growth, driven by Industrial in Europe and Life Sciences in North America and Europe. These outsourcing increases were partially offset by declines in Consumer Goods, Retail & Travel Services across all geographic regions, including the impact of the Navitaire divestiture.
|
•
|
Resources net revenues increased
3%
in local currency. Consulting revenues reflected modest growth, led by Utilities across all geographic regions as well as Chemicals & Natural Resources in Europe. These increases were partially offset by declines in Chemicals & Natural Resources in Growth Markets and North America and Energy in Europe and Growth Markets. Outsourcing revenues reflected slight growth, driven by Utilities across all geographic regions, partially offset by declines in Energy across all geographic regions.
|
•
|
North America net revenues increased
11%
in local currency, driven by the United States.
|
•
|
Europe net revenues increased
13%
in local currency, driven by the United Kingdom, Italy, Spain, Switzerland, Germany and France.
|
•
|
Growth Markets net revenues increased
7%
in local currency, led by Japan, as well as China, India and Mexico.
|
|
Nine Months Ended
|
||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
||||||||||
|
Operating
Income |
|
Operating
Margin |
|
Operating
Income |
|
Operating
Margin |
||||||
|
(in millions of U.S. dollars)
|
||||||||||||
Communications, Media & Technology
|
$
|
750
|
|
|
15
|
%
|
|
$
|
628
|
|
|
13
|
%
|
Financial Services
|
848
|
|
|
16
|
|
|
792
|
|
|
16
|
|
||
Health & Public Service
|
626
|
|
|
14
|
|
|
568
|
|
|
14
|
|
||
Products
|
924
|
|
|
15
|
|
|
817
|
|
|
14
|
|
||
Resources
|
469
|
|
|
13
|
|
|
537
|
|
|
14
|
|
||
Total
|
$
|
3,615
|
|
|
14.8
|
%
|
|
$
|
3,342
|
|
|
14.4
|
%
|
|
Nine Months Ended
|
|
|
||||||||||||||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
|
||||||||||||||||||
|
Operating Income and
Operating Margin as Reported (GAAP) |
|
|
|
Operating Income and Operating Margin
Excluding Pension Settlement Charge (Non-GAAP) |
|
|
||||||||||||||||
|
|
|
|
|
|
||||||||||||||||||
|
Operating
Income |
|
Operating
Margin |
|
Operating
Income (GAAP) |
|
Pension Settlement Charge (1)
|
|
Operating Income
(Adjusted) |
|
Operating Margin
(Adjusted) |
|
Increase
(Decrease) |
||||||||||
|
(in millions of U.S. dollars)
|
||||||||||||||||||||||
Communications, Media & Technology
|
$
|
750
|
|
|
15%
|
|
$
|
628
|
|
|
$
|
13
|
|
|
$
|
641
|
|
|
14%
|
|
$
|
109
|
|
Financial Services
|
848
|
|
|
16
|
|
792
|
|
|
13
|
|
|
805
|
|
|
16
|
|
43
|
|
|||||
Health & Public Service
|
626
|
|
|
14
|
|
568
|
|
|
12
|
|
|
580
|
|
|
14
|
|
46
|
|
|||||
Products
|
924
|
|
|
15
|
|
817
|
|
|
16
|
|
|
833
|
|
|
15
|
|
91
|
|
|||||
Resources
|
469
|
|
|
13
|
|
537
|
|
|
11
|
|
|
548
|
|
|
15
|
|
(80
|
)
|
|||||
Total
|
$
|
3,615
|
|
|
14.8%
|
|
$
|
3,342
|
|
|
$
|
64
|
|
|
$
|
3,407
|
|
|
14.7%
|
|
$
|
209
|
|
(1)
|
Represents pension settlement charge related to lump sum cash payment from plan assets offered to eligible former employees.
|
•
|
Communications, Media & Technology operating income increased primarily due to higher contract profitability and consulting revenue growth.
|
•
|
Financial Services operating income increased primarily due to consulting revenue growth.
|
•
|
Health & Public Service operating income increased due to revenue growth and higher contract profitability.
|
•
|
Products operating income increased due to very significant consulting revenue growth and lower sales and marketing costs as a percentage of net revenues.
|
•
|
Resources operating income decreased primarily due to lower outsourcing contract profitability, partially offset by lower sales and marketing costs as a percentage of net revenues.
|
|
Nine Months Ended
|
|
|
||||||||
|
May 31, 2016
|
|
May 31, 2015
|
|
Change
|
||||||
|
(in millions of U.S. dollars)
|
||||||||||
Net cash provided by (used in):
|
|
|
|
|
|
||||||
Operating activities
|
$
|
2,520
|
|
|
$
|
2,588
|
|
|
$
|
(68
|
)
|
Investing activities
|
(548
|
)
|
|
(676
|
)
|
|
128
|
|
|||
Financing activities
|
(2,809
|
)
|
|
(2,594
|
)
|
|
(215
|
)
|
|||
Effect of exchange rate changes on cash and cash equivalents
|
(26
|
)
|
|
(213
|
)
|
|
187
|
|
|||
Net decrease in cash and cash equivalents
|
$
|
(863
|
)
|
|
$
|
(895
|
)
|
|
$
|
32
|
|
|
Facility
Amount |
|
Borrowings
Under Facilities |
||||
|
(in millions of U.S. dollars)
|
||||||
Syndicated loan facility
|
$
|
1,000
|
|
|
$
|
—
|
|
Separate, uncommitted, unsecured multicurrency revolving credit facilities
|
506
|
|
|
—
|
|
||
Local guaranteed and non-guaranteed lines of credit
|
142
|
|
|
—
|
|
||
Total
|
$
|
1,648
|
|
|
$
|
—
|
|
|
Accenture plc Class A
Ordinary Shares |
|
Accenture Holdings plc Ordinary Shares and Accenture Canada
Holdings Inc. Exchangeable Shares |
||||||||||
|
Shares
|
|
Amount
|
|
Shares
|
|
Amount
|
||||||
|
(in millions of U.S. dollars, except share amounts)
|
||||||||||||
Open-market share purchases (1)
|
15,547,489
|
|
|
$
|
1,612
|
|
|
—
|
|
|
$
|
—
|
|
Other share purchase programs
|
—
|
|
|
—
|
|
|
446,011
|
|
|
49
|
|
||
Other purchases (2)
|
2,919,134
|
|
|
304
|
|
|
—
|
|
|
—
|
|
||
Total
|
18,466,623
|
|
|
$
|
1,916
|
|
|
446,011
|
|
|
$
|
49
|
|
(1)
|
We conduct a publicly announced, open-market share purchase program for Accenture plc Class A ordinary shares. These shares are held as treasury shares by Accenture plc and may be utilized to provide for select employee benefits, such as equity awards to our employees.
|
(2)
|
During the
nine months ended May 31, 2016
, as authorized under our various employee equity share plans, we acquired Accenture plc Class A ordinary shares primarily via share withholding for payroll tax obligations due from employees and former employees in connection with the delivery of Accenture plc Class A ordinary shares under those plans. These purchases of shares in connection with employee share plans do not affect our aggregate available authorization for our publicly announced open-market share purchase and the other share purchase programs.
|
Period
|
|
Total Number
of Shares Purchased |
|
Average
Price Paid per Share (1) |
|
Total Number of
Shares Purchased as Part of Publicly Announced Plans or Programs (2) |
|
Approximate Dollar Value
of Shares that May Yet Be Purchased Under the Plans or Programs (3) |
||||||
|
|
|
|
|
|
|
|
|
(in millions of U.S. dollars)
|
|||||
March 1, 2016 — March 31, 2016
|
|
|
|
|
|
|
|
|
||||||
Class A ordinary shares
|
|
1,422,710
|
|
|
$
|
106.96
|
|
|
1,397,387
|
|
|
$
|
6,224
|
|
Class X ordinary shares
|
|
127,692
|
|
|
$
|
0.0000225
|
|
|
—
|
|
|
—
|
|
|
April 1, 2016 — April 30, 2016
|
|
|
|
|
|
|
|
|
||||||
Class A ordinary shares
|
|
1,261,142
|
|
|
$
|
114.42
|
|
|
1,247,675
|
|
|
$
|
6,072
|
|
Class X ordinary shares
|
|
123,700
|
|
|
$
|
0.0000225
|
|
|
—
|
|
|
—
|
|
|
May 1, 2016 — May 31, 2016
|
|
|
|
|
|
|
|
|
||||||
Class A ordinary shares
|
|
1,342,052
|
|
|
$
|
116.00
|
|
|
1,227,798
|
|
|
$
|
5,920
|
|
Class X ordinary shares
|
|
382,195
|
|
|
$
|
0.0000225
|
|
|
—
|
|
|
—
|
|
|
Total
|
|
|
|
|
|
|
|
|
||||||
Class A ordinary shares (4)
|
|
4,025,904
|
|
|
$
|
112.31
|
|
|
3,872,860
|
|
|
|
||
Class X ordinary shares (5)
|
|
633,587
|
|
|
$
|
0.0000225
|
|
|
—
|
|
|
|
(1)
|
Average price paid per share reflects the total cash outlay for the period, divided by the number of shares acquired, including those acquired by purchase or redemption for cash and any acquired by means of employee forfeiture.
|
(2)
|
Since
August 2001
, the Board of Directors of Accenture plc has authorized and periodically confirmed a publicly announced open-market share purchase program for acquiring Accenture plc Class A ordinary shares. During the
third quarter of fiscal 2016
, we purchased
3,872,860
Accenture plc Class A ordinary shares under this program for an aggregate price of
$435 million
. The open-market purchase program does not have an expiration date.
|
(3)
|
As of
May 31, 2016
, our aggregate available authorization for share purchases and redemptions was
$5,920 million
, which management has the discretion to use for either our publicly announced open-market share purchase program or the other share purchase programs. Since
August 2001
and as of
May 31, 2016
, the Board of Directors of Accenture plc has authorized an aggregate of
$30,100 million
for purchases and redemptions of Accenture plc Class A ordinary shares, Accenture Holdings plc ordinary shares or Accenture Canada Holdings Inc. exchangeable shares.
|
(4)
|
During the
third quarter of fiscal 2016
, Accenture purchased
153,044
Accenture plc Class A ordinary shares in transactions unrelated to publicly announced share plans or programs. These transactions consisted of acquisitions of Accenture plc Class A ordinary shares primarily via share withholding for payroll tax obligations due from employees and former employees in connection with the delivery of Accenture plc Class A ordinary shares under our various employee equity share plans. These purchases of shares in connection with employee
|
(5)
|
Accenture plc Class X ordinary shares are redeemable at their par value of
$0.0000225
per share.
|
Period
|
|
Total Number
of Shares Purchased (1) |
|
Average
Price Paid per Share (2) |
|
Total Number of
Shares Purchased as Part of Publicly Announced Plans or Programs |
|
Approximate Dollar Value
of Shares that May Yet Be Purchased Under the Plans or Programs (3) |
|||||
Accenture Holdings plc
|
|
|
|
|
|
|
|
|
|||||
March 1, 2016 — March 31, 2016
|
|
63,004
|
|
|
$
|
114.67
|
|
|
—
|
|
|
—
|
|
April 1, 2016 — April 30, 2016
|
|
76,140
|
|
|
$
|
114.91
|
|
|
—
|
|
|
—
|
|
May 1, 2016 — May 31, 2016
|
|
86,140
|
|
|
$
|
114.51
|
|
|
—
|
|
|
—
|
|
Total
|
|
225,284
|
|
|
$
|
114.69
|
|
|
—
|
|
|
—
|
|
Accenture Canada Holdings Inc.
|
|
|
|
|
|
|
|
|
|||||
March 1, 2016 — March 31, 2016
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
—
|
|
April 1, 2016 — April 30, 2016
|
|
2,600
|
|
|
$
|
115.05
|
|
|
—
|
|
|
—
|
|
May 1, 2016 — May 31, 2016
|
|
—
|
|
|
$
|
—
|
|
|
—
|
|
|
—
|
|
Total
|
|
2,600
|
|
|
$
|
115.05
|
|
|
—
|
|
|
—
|
|
(1)
|
During the
third quarter of fiscal 2016
, we acquired a total of
225,284
Accenture Holdings plc ordinary shares and
2,600
Accenture Canada Holdings Inc. exchangeable shares from current and former members of Accenture Leadership and their permitted transferees by means of purchase or redemption for cash, or employee forfeiture, as applicable. In addition, during the
third quarter of fiscal 2016
, we issued
289,892
Accenture plc Class A ordinary shares upon redemptions of an equivalent number of Accenture Holdings plc ordinary shares pursuant to a registration statement.
|
(2)
|
Average price paid per share reflects the total cash outlay for the period, divided by the number of shares acquired, including those acquired by purchase or redemption for cash and any acquired by means of employee forfeiture.
|
(3)
|
For a discussion of our aggregate available authorization for share purchases and redemptions through either our publicly announced open-market share purchase program or the other share purchase programs, see the “Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs” column of the “Purchases and Redemptions of Accenture plc Class A Ordinary Shares and Class X Ordinary Shares” table above and the applicable footnote.
|
Exhibit
Number
|
|
Exhibit
|
3.1
|
|
Amended and Restated Memorandum and Articles of Association of Accenture plc (incorporated by reference to Exhibit 3.1 to Accenture plc’s 8-K filed on February 3, 2016)
|
|
|
|
10.1
|
|
Memorandum and Articles of Association and Deed Poll of Accenture Holdings plc (incorporated by reference to Exhibit 3.1 to Accenture Holdings plc’s 8-K12G3 filed on August 26, 2015)
|
|
|
|
31.1
|
|
Certification of the Chief Executive Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
|
|
|
|
31.2
|
|
Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) or 15d-14(a) of the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 (filed herewith)
|
|
|
|
32.1
|
|
Certification of the Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
|
|
|
|
32.2
|
|
Certification of the Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (furnished herewith)
|
|
|
|
101
|
|
The following financial information from Accenture plc’s Quarterly Report on Form 10-Q for the quarterly period ended May 31, 2016, formatted in XBRL (eXtensible Business Reporting Language): (i) Consolidated Balance Sheets as of May 31, 2016 (Unaudited) and August 31, 2015, (ii) Consolidated Income Statements (Unaudited) for the three and nine months ended May 31, 2016 and 2015, (iii) Consolidated Statements of Comprehensive Income (Unaudited) for the three and nine months ended May 31, 2016 and 2015, (iv) Consolidated Shareholders’ Equity Statement (Unaudited) for the nine months ended May 31, 2016, (v) Consolidated Cash Flows Statements (Unaudited) for the nine months ended May 31, 2016 and 2015 and (vi) the Notes to Consolidated Financial Statements (Unaudited)
|
|
ACCENTURE PLC
|
|
|
|
|
|
By:
|
/s/ David P. Rowland
|
|
Name:
|
David P. Rowland
|
|
Title:
|
Chief Financial Officer
|
|
|
(Principal Financial Officer and Authorized Signatory)
|
1 Year Accenture Chart |
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