EPAM Systems, Inc.

KEY FINANCIAL AND OPERATING METRICS (1)

(June 2017)

2014 2015
Q1 Q2 Q3 Q4 Q1 Q2

REVENUE
Total Revenue 160.4 174.7 192.8 202.2 200.0 217.8
IT Services Revenue 158.4 173.0 190.3 199.9 198.2 215.5
Reimbursable Expenses & Other Revenues 2.0 1.7 2.5 2.3 1.9 2.2
Y/Y Total Revenue Growth Rate 29.1 % 31.2 % 37.5 % 28.3 % 24.7 % 24.7 %
Q/Q Total Revenue Growth Rate 1.8 % 8.9 % 10.3 % 4.9 % (1.1)% 8.9 %
Y/Y Total Revenue Growth Rate in Constant Currency (2) 29.6 % 30.3 % 38.8 % 36.7 % 33.7 % 32.5 %
Q/Q Total Revenue Growth Rate in Constant Currency 2.9 % 8.3 % 12.3 % 9.0 % 1.4 % 6.7 %
Geography, as % of Total Revenue (3)
North America, $m 80.2 87.5 99.4 105.3 105.7 111.7
as % of revenues 50.0 % 50.1 % 51.5 % 52.1 % 52.8 % 51.3 %
Europe, $m 68.1 69.1 73.1 77.6 80.2 88.2
as % of revenues 42.5 % 39.6 % 37.9 % 38.4 % 40.1 % 40.5 %
CIS, $m 12.1 14.8 15.2 14.0 8.8 11.7
as % of revenues 7.5 % 8.5 % 8.0 % 6.9 % 4.4 % 5.4 %
APAC, $m — 3.2 5.1 5.3 5.4 6.1
as % of revenues —% 1.8 % 2.6 % 2.6 % 2.7 % 2.8 %
Verticals, as % of Total Revenue (3)
 Software & Hi-Tech, $m 35.2 38.1 42.2 44.0 44.9 47.5
as % of revenues 22.0 % 21.8 % 21.9 % 21.8 % 22.4 % 21.8 %
Financial Services, $m 47.9 54.5 57.3 57.1 57.0 60.4
as % of revenues 29.9 % 31.2 % 29.7 % 28.2 % 28.5 % 27.8 %
Media & Entertainment, $m 21.4 22.7 23.1 25.8 26.6 28.1
as % of revenues 13.3 % 13.0 % 12.0 % 12.8 % 13.3 % 12.9 %
Travel and Consumer, $m 37.0 36.8 43.7 43.1 44.3 52.3
as % of revenues 23.1 % 21.1 % 22.7 % 21.3 % 22.1 % 24.0 %
Life sciences and Healthcare, $m 5.1 8.2 13.8 15.9 14.6 15.9
as % of revenues 3.2 % 4.7 % 7.2 % 7.9 % 7.3 % 7.3 %
Emerging Verticals, $m 13.8 14.4 12.7 16.3 12.7 13.5
as % of revenues 8.5 % 8.2 % 6.5 % 8.0 % 6.4 % 6.2 %
Service Offering, as % of Total Revenue
Software development, $m 110.7 119.9 134.0 140.1 140.0 151.7
as % of revenues 69.0 % 68.5 % 69.5 % 69.3 % 70.0 % 69.7 %
Application testing services, $m 31.8 34.2 37.2 37.2 37.0 42.3
as % of revenues 19.8 % 19.6 % 19.3 % 18.4 % 18.5 % 19.4 %
Application maintenance and support, $m 11.4 14.5 14.8 18.1 17.1 18.0
as % of revenues 7.1 % 8.3 % 7.7 % 9.0 % 8.6 % 8.3 %
Infrastructure services, $m 3.8 3.5 3.5 3.5 3.2 2.7
as % of revenues 2.3 % 2.0 % 1.8 % 1.7 % 1.6 % 1.3 %
Licensing, $m 0.8 1.0 0.8 1.0 0.8 0.8
as % of revenues 0.5 % 0.6 % 0.4 % 0.5 % 0.4 % 0.4 %
Contract Type, as % of Total Revenue
 T&M, $m 134.6 149.4 163.3 171.3 174.4 188.2
as % of revenues 84.0 % 85.5 % 84.7 % 84.7 % 87.2 % 86.4 %
Fixed price, $m 23.0 22.6 26.2 27.5 23.0 26.6
as % of revenues 14.3 % 12.9 % 13.6 % 13.6 % 11.5 % 12.2 %
Licensing, $m 0.8 1.0 0.8 1.0 0.8 0.8
as % of revenues 0.5 % 0.6 % 0.4 % 0.5 % 0.4 % 0.4 %
Revenue by CCY, as % of Total Revenue
USD as % of revenues 63.5 % 62.0 % 60.6 % 60.3 % 61.6 % 59.0 %
EUR as % of revenues 7.0 % 6.9 % 6.8 % 6.7 % 7.3 % 8.6 %
GBP as % of revenues 11.5 % 10.5 % 10.7 % 11.9 % 12.6 % 12.4 %
CAD as % of revenues 5.8 % 6.2 % 6.3 % 6.6 % 5.8 % 5.8 %
CHF as % of revenues 4.0 % 3.9 % 4.8 % 4.7 % 5.6 % 5.5 %
RUB as % of revenues 5.6 % 6.2 % 6.6 % 5.0 % 3.0 % 4.0 %
CNY as % of revenues —% 1.0 % 1.3 % 1.4 % 1.4 % 1.4 %
KZT as % of revenues 0.9 % 0.8 % 0.2 % 1.2 % 0.5 % 0.8 %
Other as % of revenues 1.7 % 2.5 % 2.7 % 2.2 % 2.2 % 2.5 %
Expense by CCY, as % of Total Expenses
(OPEX+Depreciation) 135.3 148.3 163.5 166.0 167.9 181.9
USD as % of expenses 63.8 % 62.6 % 62.5 % 62.9 % 61.9 % 63.7 %
RUB as % of expenses 10.3 % 9.0 % 9.8 % 8.4 % 7.3 % 7.7 %
HUF as % of expenses 9.2 % 9.1 % 8.4 % 8.1 % 8.1 % 7.3 %
GBP as % of expenses 5.3 % 5.4 % 4.9 % 5.8 % 6.4 % 6.0 %
PLN as % of expenses 1.4 % 1.7 % 2.2 % 2.7 % 2.8 % 2.9 %
CHF as % of expenses 3.4 % 3.8 % 4.0 % 4.3 % 4.9 % 4.5 %
 CNY as % of expenses —% 0.9 % 1.2 % 1.3 % 1.3 % 1.8 %
EUR as % of expenses 0.8 % 0.8 % 0.7 % 0.8 % 0.7 % 0.7 %
CAD as % of expenses 3.2 % 2.5 % 2.1 % 2.3 % 2.5 % 2.2 %
INR as % of expenses —% —% —% —% —% —%
UAH as % of expenses 0.1 % 0.1 % 0.1 % 0.1 % 0.1 % 0.1 %
BYR as % of expenses 0.2 % 0.1 % 0.1 % 0.1 % 0.1 % 0.1 %
Other as % of expenses 2.3 % 4.0 % 4.0 % 3.2 % 3.9 % 3.0 %

IFO, Margins, NI, EPS

GAAP
Income from Operations 21.9 18.5 21.8 24.0 22.8 23.6
Operating margin 13.6 % 10.6 % 11.3 % 11.9 % 11.4 % 10.8 %
Net Income 17.4 14.8 19.0 18.4 14.7 19.2
As % of Total Revenue 10.8 % 8.5 % 9.9 % 9.1 % 7.4 % 8.8 %
Diluted Earnings Per Share $ 0.35 $ 0.30 $ 0.38 $ 0.37 $ 0.29 $ 0.37
Weighted Average Shares Diluted, thousand 49,207 49,559 49,829 50,383 51,000 51,917
Non-GAAP
Income from Operations 26.3 28.9 31.8 36.2 33.4 36.9
Operating margin 16.4 % 16.5 % 16.5 % 17.9 % 16.7 % 16.9 %
Net Income 23.0 26.5 29.7 31.4 31.1 33.0
As % of Total Revenue 14.4 % 15.1 % 15.4 % 15.5 % 15.5 % 15.1 %
Diluted Earnings Per Share $ 0.47 $ 0.53 $ 0.60 $ 0.62 $ 0.61 $ 0.64
Tax effect on non-GAAP adjustments (1.5) (3.0) (2.6) (3.4) (4.6) (2.9)
 Excess tax benefits related to stock-based
compensation (4)
Net Income adjusted 21.5 23.5 27.1 28.0 26.5 30.1
Diluted Earnings Per Share adjusted $ 0.44 $ 0.47 $ 0.54 $ 0.56 $ 0.52 $ 0.58
Weighted Average Shares Diluted, thousand 49,207 49,559 49,829 50,383 51,000 51,917

Customer Metrics (3)

Top Customer, % of Total Revenue 12.5 % 13.3 % 14.0 % 13.7 % 15.5 % 14.6 %
Top 5 Customers, % of Total Revenue 33.8 % 32.9 % 32.9 % 32.6 % 35.7 % 33.8 %
Top 10 Customers, % of Total Revenue 46.3 % 44.4 % 43.6 % 43.4 % 46.8 % 44.6 %
Top 20 Customers, % of Total Revenue 58.6 % 56.8 % 56.0 % 54.7 % 58.1 % 55.7 %

Balance Sheet, Cash Flows

Net cash flows 4.9 1.0 16.2 29.3 (28.2) (16.6)
Cash Flow from Operations 16.2 16.8 23.1 48.7 6.9 2.2
Investing Cash Flows (11.7) (21.5) (5.2) (14.5) (33.9) (5.6)
of which:
Capital Expenditures 3.7 3.0 5.0 4.1 3.5 5.4
Financing Cash Flows 3.1 4.4 1.8 1.0 1.5 (15.4)
Effect of exchange rates on C&CE (2.8) 1.3 (3.6) (5.9) (2.7) 2.2
Free Cash Flows (5) 12.5 13.8 18.2 44.6 3.4 (3.2)
Adjusted Net Income Conversion (6) 58.4 % 58.6 % 67.1 % 159.2 % 12.8 % (10.7)%
Cash and Cash Equivalents 174.1 175.1 191.2 220.5 192.4 175.7
Trade Accounts Receivable, net 89.9 108.2 113.9 124.5 104.7 134.5
Unbilled Revenue, net 58.8 67.9 70.9 55.9 88.0 92.3
Working capital 291.8 297.2 317.9 289.7 316.2 367.0

Days Sales Outstanding (7)

Trade Accounts Receivable 50 56 54 57 47 56
Unbilled Revenue 33 36 34 25 40 39
Total 83 92 88 82 87 95

People
Total Professionals, End of Period 11,585 13,021 13,649 14,109 14,576 15,213
Y/Y Net Change in Total Professionals 12.3 % 23.1 % 26.7 % 27.6 % 25.8 % 16.8 %
IT Professionals, End of Period 9,759 10,988 11,437 11,787 12,665 13,253
Y/Y Net Change in IT Professionals 11.9 % 23.6 % 26.2 % 26.2 % 29.8 % 20.6 %

Footnotes:

(1) During EPAM Systems, Inc.'s earnings calls, management supplements results reported in accordance with United States generally accepted accounting princ
Non-GAAP measures should be considered in addition to, not as a substitute for, the financial measure reported in accordance with GAAP. Non-GAAP results exc
goodwill impairment, foreign exchange gains and losses, and certain other non-recurring charges, and the related effect on taxes.
(2) Constant currency revenues are calculated based on weighted average exchange rates of the prior period of comparison.
(3) Prior year figures are restated to include allocated reimbursable expenses and other revenues (which primarily include travel and entertainment costs charge

(4) Effective January 1, 2017 with the adoption of ASU 2016-09, the Company is prospectively presenting excess tax benefits related to stock-based compensatio
these benefits to Additional paid-in-capital.
(5) Free cash flow is calculated as cash flows from operating activities as presented in the statement of cash flows under GAAP, less capital expenditures.
(6) Adjusted net income conversion measure is calculated by dividing free cash flows by adjusted net income.
(7) Days Sales Outstanding (DSO) is calculated by dividing the amount of accounts receivable and/or unbilled revenues as of the end of the period by the total va
result by the number of days in the period measured.
2015 2016 2017
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2012 2013 2014

236.0 260.3 264.5 283.8 298.3 313.5 324.7 349.0 433.8 555.1 730.0
233.2 257.7 262.0 280.7 295.1 309.7 320.7 344.8 427.4 547.5 721.6
2.9 2.5 2.4 3.1 3.2 3.8 3.9 4.2 6.4 7.6 8.4
22.5 % 28.7 % 32.2 % 30.3 % 26.4 % 20.5 % 22.7 % 23.0 % 29.7 % 28.0 % 31.5 %
8.4 % 10.3 % 1.6 % 7.3 % 5.1 % 5.1 % 3.5 % 7.5 % n/a n/a n/a
30.8 % 34.3 % 34.5 % 33.9 % 28.7 % 22.8 % 23.9 % 23.7 % 31.4 % 28.2 % 34.2 %
10.8 % 11.7 % 2.1 % 6.4 % 6.2 % 6.6 % 2.8 % 6.4 % n/a n/a n/a

126.5 146.5 152.5 162.7 169.8 185.6 189.3 206.0 210.1 286.4 372.4
53.6 % 56.3 % 57.7 % 57.3 % 56.9 % 59.2 % 58.3 % 59.0 % 48.4 % 51.6 % 51.0 %
92.5 95.6 95.6 103.8 110.3 108.1 114.3 121.2 157.8 202.9 288.0
39.2 % 36.7 % 36.1 % 36.6 % 37.0 % 34.5 % 35.2 % 34.8 % 36.4 % 36.5 % 39.5 %
11.0 11.6 10.2 11.6 11.1 13.3 14.5 14.8 65.9 65.8 56.1
4.6 % 4.5 % 3.8 % 4.1 % 3.7 % 4.2 % 4.5 % 4.2 % 15.2 % 11.9 % 7.6 %
6.1 6.6 6.3 5.8 7.1 6.5 6.5 7.0 — — 13.6
2.6 % 2.5 % 2.4 % 2.0 % 2.4 % 2.1 % 2.0 % 2.0 % —% —% 1.9 %
 48.9 53.3 56.3 58.0 60.3 64.7 68.3 69.7 108.4 136.6 159.5
20.7 % 20.5 % 21.3 % 20.4 % 20.2 % 20.6 % 21.0 % 20.0 % 25.0 % 24.6 % 21.8 %
63.3 69.4 71.5 73.4 77.1 73.4 75.0 79.0 113.8 157.8 216.7
26.8 % 26.7 % 27.0 % 25.9 % 25.8 % 23.4 % 23.1 % 22.6 % 26.2 % 28.4 % 29.7 %
30.9 36.5 38.1 41.4 45.4 51.4 57.6 63.1 63.1 77.0 93.0
13.1 % 14.0 % 14.4 % 14.6 % 15.2 % 16.4 % 17.7 % 18.1 % 14.5 % 13.9 % 12.7 %
59.7 62.1 60.4 63.8 69.4 68.7 71.8 77.6 97.6 119.3 160.6
25.3 % 23.9 % 22.8 % 22.5 % 23.3 % 21.9 % 22.1 % 22.2 % 22.5 % 21.5 % 22.0 %
20.2 23.6 21.0 28.1 25.7 31.1 27.1 28.9 8.2 14.6 43.0
8.6 % 9.1 % 7.9 % 9.9 % 8.6 % 9.9 % 8.3 % 8.3 % 1.9 % 2.6 % 5.9 %
13.1 15.3 17.1 19.2 20.4 24.2 24.9 30.7 42.8 49.9 57.2
5.5 % 5.8 % 6.6 % 6.7 % 6.9 % 7.8 % 7.8 % 8.8 % 9.9 % 9.0 % 7.9 %

165.4 187.5 192.6 203.5 217.0 228.7 236.7 254.6 290.1 374.4 504.6
70.1 % 72.1 % 72.8 % 71.7 % 72.7 % 72.9 % 72.9 % 73.0 % 66.8 % 67.4 % 69.1 %
46.3 48.6 50.2 55.5 57.7 59.6 62.0 66.4 85.8 109.2 140.4
19.6 % 18.7 % 19.0 % 19.6 % 19.4 % 19.1 % 19.1 % 19.0 % 19.8 % 19.7 % 19.2 %
18.0 17.5 16.1 19.4 18.9 20.1 21.0 22.9 36.1 46.0 58.8
7.6 % 6.7 % 6.1 % 6.8 % 6.4 % 6.4 % 6.5 % 6.6 % 8.3 % 8.3 % 8.1 %
2.7 2.7 2.4 1.6 0.7 0.4 0.2 0.1 12.4 14.4 14.2
1.1 % 1.0 % 0.9 % 0.6 % 0.2 % 0.1 % 0.1 % —% 2.9 % 2.6 % 1.9 %
0.8 1.4 0.7 0.7 0.7 1.0 0.7 0.8 2.9 3.4 3.6
0.3 % 0.5 % 0.3 % 0.2 % 0.2 % 0.3 % 0.2 % 0.2 % 0.7 % 0.6 % 0.5 %
201.3 220.3 233.0 249.2 264.4 277.2 295.0 313.5 364.9 456.9 618.7
85.3 % 84.7 % 88.1 % 87.8 % 88.7 % 88.4 % 90.9 % 89.9 % 84.1 % 82.3 % 84.7 %
31.1 36.0 28.3 30.8 30.0 31.6 25.1 30.5 59.6 87.1 99.3
13.2 % 13.8 % 10.7 % 10.9 % 10.0 % 10.1 % 7.7 % 8.7 % 13.7 % 15.7 % 13.6 %
0.8 1.4 0.7 0.7 0.7 1.0 0.7 0.8 2.9 3.4 3.6
0.3 % 0.5 % 0.3 % 0.2 % 0.2 % 0.3 % 0.2 % 0.2 % 0.7 % 0.6 % 0.5 %

60.5 % 62.6 % 64.1 % 63.6 % 62.9 % 65.0 % 65.1 % 65.0 % 66.8 % 66.0 % 61.5 %
9.5 % 8.5 % 8.5 % 9.5 % 12.0 % 12.1 % 12.5 % 14.3 % 8.0 % 5.9 % 6.8 %
11.4 % 11.3 % 11.0 % 11.4 % 10.2 % 9.2 % 9.5 % 8.5 % 9.4 % 8.7 % 11.2 %
6.0 % 6.5 % 5.8 % 5.2 % 4.7 % 4.1 % 3.7 % 3.6 % 1.7 % 5.6 % 6.2 %
4.9 % 3.9 % 4.2 % 4.0 % 4.0 % 3.2 % 3.1 % 2.6 % 1.5 % 2.7 % 4.4 %
3.5 % 3.4 % 2.9 % 3.2 % 2.8 % 3.3 % 3.4 % 3.3 % 8.4 % 8.1 % 5.8 %
1.4 % 1.4 % 1.3 % 1.1 % 1.4 % 1.1 % 1.0 % 1.0 % —% —% 0.9 %
0.5 % 0.4 % 0.3 % 0.2 % 0.2 % 0.3 % 0.2 % 0.3 % 2.6 % 1.7 % 0.8 %
2.3 % 2.0 % 1.9 % 1.8 % 1.8 % 1.7 % 1.5 % 1.4 % 1.6 % 1.3 % 2.4 %
196.3 215.1 223.0 238.4 250.4 264.2 277.1 294.6 360.3 466.1 613.1
67.0 % 68.1 % 59.7 % 59.4 % 59.3 % 60.2 % 56.9 % 59.0 % 64.5 % 65.7 % 62.9 %
6.2 % 6.3 % 7.7 % 7.1 % 7.4 % 8.7 % 9.6 % 9.2 % 13.2 % 11.4 % 9.3 %
6.8 % 6.4 % 7.1 % 7.2 % 7.3 % 7.1 % 6.8 % 6.3 % 9.8 % 9.2 % 8.7 %
5.9 % 5.4 % 6.1 % 6.3 % 5.2 % 4.2 % 5.3 % 4.8 % 3.2 % 3.9 % 5.4 %
2.9 % 3.0 % 3.8 % 4.4 % 4.9 % 4.8 % 5.1 % 5.2 % —% —% 2.0 %
4.1 % 3.7 % 4.2 % 3.8 % 4.0 % 3.6 % 4.1 % 3.8 % —% —% 3.9 %
 1.5 % 1.5 % 1.8 % 2.1 % 2.5 % 2.2 % 2.4 % 1.9 % —% —% 0.9 %
0.7 % 0.7 % 1.0 % 0.8 % 0.9 % 0.9 % 1.1 % 1.6 % —% 1.0 % 0.8 %
1.8 % 1.6 % 2.2 % 1.7 % 1.6 % 1.1 % 1.5 % 1.2 % 2.0 % 2.8 % 2.5 %
—% —% 2.5 % 2.6 % 2.5 % 2.5 % 2.4 % 2.4 % —% —% —%
0.1 % 0.1 % —% —% —% —% —% —% 0.5 % 0.2 % 0.1 %
0.1 % 0.1 % 0.1 % —% —% —% 0.1 % —% 0.2 % 0.2 % 0.1 %
2.9 % 3.1 % 3.8 % 4.6 % 4.4 % 4.7 % 4.7 % 4.6 % 6.6 % 5.6 % 3.4 %

27.8 31.8 30.3 32.1 33.9 37.4 31.0 40.7 66.0 76.5 86.2
11.8 % 12.2 % 11.5 % 11.3 % 11.4 % 11.9 % 9.5 % 11.7 % 15.2 % 13.8 % 11.8 %
22.9 27.6 23.9 24.4 26.2 24.8 23.6 37.4 54.5 62.0 69.6
9.7 % 10.6 % 9.0 % 8.6 % 8.8 % 7.9 % 7.3 % 10.7 % 12.6 % 11.2 % 9.5 %
$ 0.44 $ 0.52 $ 0.45 $ 0.46 $ 0.49 $ 0.46 $ 0.44 $ 0.68 $ 1.17 $ 1.28 $ 1.40
52,344 52,670 52,883 53,271 53,864 53,380 53,889 54,848 43,821 48,358 49,734

41.5 46.9 43.0 47.6 49.7 51.5 49.3 55.8 74.9 91.8 123.1
17.6 % 18.0 % 16.3 % 16.8 % 16.7 % 16.4 % 15.2 % 16.0 % 17.3 % 16.5 % 16.9 %
36.5 41.2 37.8 42.3 43.7 45.6 44.9 50.9 65.5 80.1 110.6
15.5 % 15.8 % 14.3 % 14.9 % 14.7 % 14.5 % 13.8 % 14.6 % 15.1 % 14.4 % 15.1 %
$ 0.70 $ 0.78 $ 0.72 $ 0.79 $ 0.81 $ 0.85 $ 0.83 $ 0.93 $ 1.42 $ 1.66 $ 2.22
(2.9) (2.8) (3.1) (4.4) (3.0) (4.6) (4.3) (3.0) (3.1) (3.9) (10.6)
 (1.7) (4.1)
33.6 38.4 34.7 37.9 40.8 41.1 38.9 43.8 62.4 76.3 100.0
$ 0.64 $ 0.73 $ 0.66 $ 0.71 $ 0.76 $ 0.77 $ 0.72 $ 0.80 $ 1.35 $ 1.58 $ 2.01
52,344 52,670 52,883 53,271 53,864 53,380 53,889 54,848 43,821 48,358 49,734

13.9 % 13.3 % 13.4 % 12.8 % 11.8 % 9.8 % 9.8 % 8.7 % 9.4 % 9.7 % 13.4 %
32.1 % 31.5 % 31.0 % 29.6 % 28.1 % 25.4 % 26.4 % 23.8 % 31.4 % 30.9 % 33.0 %
43.2 % 42.6 % 41.7 % 40.1 % 37.9 % 35.5 % 36.2 % 33.7 % 45.0 % 42.8 % 44.2 %
54.3 % 53.3 % 51.9 % 50.6 % 48.5 % 46.3 % 47.5 % 45.1 % 58.9 % 57.0 % 55.9 %

38.7 (15.0) 45.4 35.8 49.9 31.4 36.4 45.1 29.3 51.1 51.3
55.5 11.8 10.9 38.5 61.8 53.7 31.2 27.9 48.5 58.2 104.9
(33.7) (52.3) 23.4 (11.6) (8.7) (12.4) (5.6) (11.9) (59.6) (21.8) (52.9)

5.4 3.8 6.2 7.4 6.4 9.3 5.7 5.7 27.1 15.9 15.8
19.4 28.3 9.8 10.0 (3.3) (5.9) 7.9 26.3 38.8 15.5 10.3
(2.5) (2.8) 1.4 (1.0) 0.1 (3.9) 2.9 2.9 1.6 (0.8) (11.0)
50.2 8.1 4.7 31.1 55.4 44.3 25.5 22.2 21.4 42.3 89.0
149.4 % 21.1 % 13.5 % 82.0 % 136.0 % 107.9 % 65.6 % 50.7 % 34.3 % 55.5 % 89.0 %
214.4 199.4 244.9 280.7 330.6 362.0 398.4 443.5 118.1 169.2 220.5
 125.2 174.2 157.5 178.8 187.8 200.0 176.7 208.3 78.9 95.4 124.5
104.9 95.8 115.4 96.0 82.4 63.3 102.8 107.9 33.4 43.1 55.9
387.7 401.0 444.7 481.5 513.3 530.3 585.1 658.3 191.6 276.3 289.7

49 62 54 57 58 59 49 54 58 56 57
41 33 40 31 25 18 28 28 24 25 25
90 95 94 88 83 77 77 82 82 81 82

16,026 18,354 19,517 20,761 21,720 22,383 22,433 23,233 10,043 11,056 14,109
17.4 % 30.1 % 33.9 % 36.5 % 35.5 % 22.0 % 14.9 % 11.9 % 23.6 % 10.1 % 27.6 %
14,004 16,078 17,151 18,206 19,070 19,670 19,677 20,414 8,495 9,340 11,787
22.4 % 36.4 % 35.4 % 37.4 % 36.2 % 22.3 % 14.7 % 12.1 % 21.9 % 9.9 % 26.2 %

erally accepted accounting principles, referred to as GAAP, with non-GAAP measures, as defined by SEC regulation G.
ith GAAP. Non-GAAP results exclude stock-based compensation expense, amortization of purchased intangible assets,
s.

and entertainment costs chargeable to clients) to corresponding geographies and verticals.

ted to stock-based compensation in the Provision for income taxes. Prior to January 1, 2017, the Company recorded

ess capital expenditures.

end of the period by the total value of total revenues during the last three months in the period, and multiplying the
 2015 2016

914.1 1,160.1
904.6 1,147.6
9.5 12.5
25.2 % 26.9 %
n/a n/a
32.8 % 29.4 %
n/a n/a

490.3 670.6
53.6 % 57.8 %
356.5 417.8
39.0 % 36.0 %
43.1 46.1
4.8 % 4.0 %
24.2 25.6
2.6 % 2.2 %
194.6 239.3
21.3 % 20.6 %
250.2 295.4
27.4 % 25.5 %
122.1 176.3
13.4 % 15.2 %
218.3 262.3
23.9 % 22.6 %
74.3 105.9
8.1 % 9.1 %
54.6 80.8
5.9 % 7.0 %

644.7 841.9
70.6 % 72.6 %
174.3 223.0
19.1 % 19.2 %
70.6 74.5
7.7 % 6.4 %
11.3 5.1
1.2 % 0.4 %
3.8 3.1
0.4 % 0.3 %
784.2 1,023.8
85.8 % 88.2 %
116.7 120.7
12.8 % 10.4 %
3.8 3.1
0.4 % 0.3 %

61.0 % 63.9 %
8.5 % 10.6 %
11.9 % 10.4 %
6.0 % 4.9 %
4.9 % 3.8 %
3.5 % 3.1 %
1.4 % 1.2 %
0.5 % 0.3 %
2.3 % 1.8 %
761.2 976.0
65.4 % 59.6 %
6.8 % 7.7 %
7.1 % 7.2 %
5.9 % 5.4 %
2.9 % 4.5 %
4.3 % 3.9 %
 1.5 % 2.1 %
0.7 % 0.9 %
2.0 % 1.6 %
—% 2.5 %
0.1 % —%
0.1 % —%
3.2 % 4.6 %

106.0 133.7
11.6 % 11.5 %
84.5 99.3
9.2 % 8.6 %
$ 1.62 $ 1.87
51,986 53,215

158.7 191.8
17.4 % 16.5 %
141.8 169.5
15.5 % 14.6 %
$ 2.73 $ 3.18
(13.3) (15.0)
 128.6 154.5
$ 2.47 $ 2.90
51,986 53,215

14.2 % 11.9 %
32.8 % 28.4 %
44.1 % 38.4 %
54.7 % 48.5 %

(21.1) 162.6
76.4 164.8
(125.5) (9.3)

18.0 29.3
33.8 10.5
(5.7) (3.4)
58.4 135.5
45.5 % 87.7 %
199.4 362.0
 174.2 200.0
95.8 63.3
401.0 530.3

62 59
33 18
95 77

18,354 22,383
30.1 % 22.0 %
16,078 19,670
36.4 % 22.3 %