What changed in this filing

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Item 1. Financial Statements

2026-03-19 compared with 2025-12-18 · 190 added, 91 removed, 610 unchanged (32% of the section changed)

1 unchanged sentence

Consolidated Balance Sheets

November 30, 2025 and August 31, 2025

November 30, 2025 August 31, 2025

February 28, 2026 and August 31, 2025

February 28, 2026 August 31, 2025

ASSETS (Unaudited)

37 unchanged sentences

COMMITMENTS AND CONTINGENCIES

Redeemable noncontrolling interests 475,823 —

SHAREHOLDERS’ EQUITY:

Ordinary shares, par value 1.00 euros per share, 40,000 shares authorized and issued as of November 30, 2025 and August 31, 2025

Class A ordinary shares, par value $ 0.0000225 per share, 20,000,000,000 shares authorized, 660,352,923 and 657,964,764 shares issued as of November 30, 2025 and August 31, 2025, respectively

Class X ordinary shares, par value $ 0.0000225 per share, 1,000,000,000 shares authorized, 302,358 shares issued and outstanding as of November 30, 2025 and August 31, 2025,

Ordinary shares, par value 1.00 euros per share, 40,000 shares authorized and issued as of February 28, 2026 and August 31, 2025

Class A ordinary shares, par value $ 0.0000225 per share, 20,000,000,000 shares authorized, 665,095,184 and 657,964,764 shares issued as of February 28, 2026 and August 31, 2025, respectively

Class X ordinary shares, par value $ 0.0000225 per share, 1,000,000,000 shares authorized, 300,673 and 302,358 shares issued and outstanding as of February 28, 2026 and August 31, 2025, respectively

Restricted share units 2,098,413 2,790,652

1 unchanged sentence

Treasury shares, at cost:

Ordinary, 40,000 shares as of November 30, 2025 and August 31, 2025;

Class A ordinary, 44,997,383 and 36,108,842 shares as of November 30, 2025 and August 31, 2025, respectively

Ordinary, 40,000 shares as of February 28, 2026 and August 31, 2025;

Class A ordinary, 50,254,062 and 36,108,842 shares as of February 28, 2026 and August 31, 2025, respectively

( 10,974,844 ) ( 7,751,973 )

11 unchanged sentences

Consolidated Income Statements

For the Three Months Ended November 30, 2025 and 2024

For the Three and Six Months Ended February 28, 2026 and 2025

Three Months Ended Six Months Ended

February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

Revenues $ 18,044,066 $ 16,659,301 $ 36,786,191 $ 34,348,846

28 unchanged sentences

Consolidated Statements of Comprehensive Income

For the Three Months Ended November 30, 2025 and 2024

For the Three and Six Months Ended February 28, 2026 and 2025

Three Months Ended Six Months Ended

February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

NET INCOME $ 1,859,388 $ 1,822,441 $ 4,101,284 $ 4,138,631

15 unchanged sentences

Consolidated Shareholders’ Equity Statement

For the Three Months Ended November 30, 2025

For the Three Months Ended February 28, 2026

Shares Class A

10 unchanged sentences

Shareholders’

Balance as of August 31, 2025 $ 57 40 $ 14 657,965 $ — 302 $ 2,790,652 $ 16,603,344 $ ( 7,751,973 ) ( 36,149 ) $ 21,018,731 $ ( 1,465,379 ) $ 31,195,446 $ 1,045,521 $ 32,240,967

Balance as of November 30, 2025 $ 57 40 $ 15 660,353 $ — 302 $ 2,954,675 $ 17,236,636 $ ( 9,875,573 ) ( 45,037 ) $ 22,148,070 $ ( 1,596,377 ) $ 30,867,503 $ 1,054,779 $ 31,922,282

Net income 1,825,239 1,825,239 34,149 1,859,388

7 unchanged sentences

Other, net 3,983 3,983 ( 4,777 ) ( 794 )

Balance as of February 28, 2026 $ 57 40 $ 15 665,095 $ — 301 $ 2,098,413 $ 18,683,496 $ ( 10,974,844 ) ( 50,294 ) $ 22,804,025 $ ( 1,400,486 ) $ 31,210,676 $ 1,088,516 $ 32,299,192

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

Consolidated Financial Statements

(In thousands of U.S.

dollars and share amounts)

ACCENTURE FORM 10-Q

Consolidated Shareholders’ Equity Statement — (continued)

For the Three Months Ended February 28, 2025

Shares Class A

Shares Class X

Shares Restricted

Units Additional

Capital Treasury Shares Retained

Earnings Accumulated

Comprehensive

Accenture plc

Shareholders’

Equity Noncontrolling

Interests Total

Shareholders’

Balance as of November 30, 2024 $ 57 40 $ 15 674,279 $ — 308 $ 2,777,423 $ 15,364,338 $ ( 11,304,512 ) ( 49,289 ) $ 24,402,568 $ ( 2,049,394 ) $ 29,190,495 $ 911,928 $ 30,102,423

Net income 1,788,075 1,788,075 34,366 1,822,441

Other comprehensive income (loss) ( 259,036 ) ( 259,036 ) ( 2,703 ) ( 261,739 )

Purchases of Class A shares 1,181 ( 1,444,442 ) ( 4,000 ) ( 1,443,261 ) ( 1,181 ) ( 1,444,442 )

Share-based compensation expense 686,114 686,114 686,114

Purchases/redemptions of Accenture Canada Holdings Inc.

exchangeable shares and Class X shares ( 5 ) ( 3,376 ) ( 3,376 ) ( 3,376 )

Issuances of Class A shares for employee share programs 4,072 ( 1,517,697 ) 1,317,409 424,767 1,342 ( 15,134 ) 209,345 942 210,287

Dividends 37,399 ( 965,513 ) ( 928,114 ) ( 878 ) ( 928,992 )

Other, net 5,811 5,811 ( 6,579 ) ( 768 )

Balance as of February 28, 2025 $ 57 40 $ 15 678,351 $ — 303 $ 1,983,239 $ 16,685,363 $ ( 12,324,187 ) ( 51,947 ) $ 25,209,996 $ ( 2,308,430 ) $ 29,246,053 $ 935,895 $ 30,181,948

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

4 unchanged sentences

Consolidated Shareholders’ Equity Statement — (continued)

For the Three Months Ended November 30, 2024

For the Six Months Ended February 28, 2026

Shares Class A

20 unchanged sentences

Other, net ( 1,658 ) ( 1,658 ) ( 20,633 ) ( 22,291 )

Balance as of November 30, 2024 $ 57 40 $ 15 674,279 $ — 308 $ 2,777,423 $ 15,364,338 $ ( 11,304,512 ) ( 49,289 ) $ 24,402,568 $ ( 2,049,394 ) $ 29,190,495 $ 911,928 $ 30,102,423

Balance as of February 28, 2026 $ 57 40 $ 15 665,095 $ — 301 $ 2,098,413 $ 18,683,496 $ ( 10,974,844 ) ( 50,294 ) $ 22,804,025 $ ( 1,400,486 ) $ 31,210,676 $ 1,088,516 $ 32,299,192

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

1 unchanged sentence

(In thousands of U.S.

dollars and share amounts)

ACCENTURE FORM 10-Q

Consolidated Shareholders’ Equity Statement — (continued)

For the Six Months Ended February 28, 2025

Shares Class A

Shares Class X

Shares Restricted

Units Additional

Capital Treasury Shares Retained

Earnings Accumulated

Comprehensive

Accenture plc

Shareholders’

Equity Noncontrolling

Interests Total

Shareholders’

Balance as of August 31, 2024 $ 57 40 $ 15 672,485 $ — 308 $ 2,614,608 $ 14,710,857 $ ( 10,564,572 ) ( 47,245 ) $ 23,082,423 $ ( 1,554,742 ) $ 28,288,646 $ 879,602 $ 29,168,248

Net income 4,066,969 4,066,969 71,662 4,138,631

Other comprehensive income (loss) ( 753,688 ) ( 753,688 ) ( 12,796 ) ( 766,484 )

Purchases of Class A shares 1,923 ( 2,341,837 ) ( 6,528 ) ( 2,339,914 ) ( 1,923 ) ( 2,341,837 )

Share-based compensation expense 1,099,811 56,728 1,156,539 1,156,539

Purchases/redemptions of Accenture Canada Holdings Inc.

exchangeable shares and Class X shares ( 5 ) ( 4,245 ) ( 4,245 ) ( 4,245 )

Issuances of Class A shares for employee share programs 5,866 ( 1,802,162 ) 1,922,662 582,222 1,826 ( 15,625 ) 687,097 557 687,654

Dividends 70,982 ( 1,923,771 ) ( 1,852,789 ) ( 1,761 ) ( 1,854,550 )

Other, net ( 2,562 ) ( 2,562 ) 554 ( 2,008 )

Balance as of February 28, 2025 $ 57 40 $ 15 678,351 $ — 303 $ 1,983,239 $ 16,685,363 $ ( 12,324,187 ) ( 51,947 ) $ 25,209,996 $ ( 2,308,430 ) $ 29,246,053 $ 935,895 $ 30,181,948

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

Consolidated Financial Statements

(In thousands of U.S.

ACCENTURE FORM 10-Q

Consolidated Cash Flows Statements

For the Three Months Ended November 30, 2025 and 2024

For the Six Months Ended February 28, 2026 and 2025

February 28, 2026 February 28, 2025

CASH FLOWS FROM OPERATING ACTIVITIES:

52 unchanged sentences

The Consolidated Financial Statements reflect all adjustments of a normal, recurring nature that are, in the opinion of management, necessary for a fair presentation of results for these interim periods.

The results of operations for the three months ended November 30, 2025 are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2026.

The results of operations for the three and six months ended February 28, 2026 are not necessarily indicative of the results that may be expected for the fiscal year ending August 31, 2026.

Allowance for Credit Losses—Client Receivables and Contract Assets

As of November 30, 2025 and August 31, 2025, the total allowance for credit losses recorded for client receivables and contract assets was $ 24,571 and $ 32,247 , respectively.

The change in the allowance is primarily due to immaterial write-offs and changes in gross client receivables and contract assets.

As of February 28, 2026 and August 31, 2025, the total allowance for credit losses recorded for client receivables and contract assets was $ 47,103 and $ 32,247 , respectively.

The change in the allowance is primarily due to changes in specific client reserves, gross client receivables and contract assets and immaterial write-offs.

All available-for-sale securities and liquid investments with an original maturity greater than three months but less than one year are considered to be Short-term investments.

1 unchanged sentence

Our non-current investments are as follows:

November 30, 2025 August 31, 2025

February 28, 2026 August 31, 2025

Equity method investments $ 355,771 $ 355,276

3 unchanged sentences

Equity method investments are initially recorded at cost and our proportionate share of gains and losses of the investee are included as a component of Other income (expense), net.

Redeemable Noncontrolling Interests

Our redeemable noncontrolling interests relate to options to sell and/or buy remaining interests in certain acquired entities at fair value over a specified time period.

Redeemable noncontrolling interests are presented separately in the Consolidated Balance Sheets at redemption value, with adjustments recorded to Retained earnings.

The related share of income or loss is reported as Net income attributable to non-controlling interests – other in the Consolidated Income Statements.

As of February 28, 2026, redeemable noncontrolling interests were $ 475,823 .

We did not hold redeemable noncontrolling interests as of November 30, 2025 or August 31, 2025.

Notes To Consolidated Financial Statements

3 unchanged sentences

Depreciation and Amortization

As of November 30, 2025 and August 31, 2025, total accumulated depreciation was $ 2,988,124 and $ 2,926,630 , respectively.

See table below for a summary of depreciation on fixed assets, deferred transition amortization, intangible assets amortization and operating lease cost for the three months ended November 30, 2025 and 2024, respectively.

Three Months Ended

November 30, 2025 November 30, 2024

As of February 28, 2026 and August 31, 2025, total accumulated depreciation was $ 3,102,354 and $ 2,926,630 , respectively.

See table below for a summary of depreciation on fixed assets, deferred transition amortization, intangible assets amortization and operating lease cost for the three and six months ended February 28, 2026 and 2025, respectively.

Three Months Ended Six Months Ended

February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

Depreciation $ 142,686 $ 133,809 $ 286,269 $ 266,908

4 unchanged sentences

Total depreciation, amortization and other $ 585,500 $ 544,870 $ 1,167,291 $ 1,114,210

Business Optimization

During the first quarter of fiscal 2026, we completed our six-month business optimization program.

We recorded a total of $ 923 million under the program, including $ 628 million of employee severance associated with headcount reductions we made in a compressed timeline, as well as asset impairments of $ 295 million primarily related to the divestiture of two acquisitions in the Americas that are no longer aligned with our strategic priorities.

Total b usiness optimization costs by reportable operating segment for the three months ended November 30, 2025 and August 31, 2025 were as follows:

Three Months Ended

November 30, 2025 August 31, 2025

Americas $ 66,749 $ 420,469

EMEA 169,811 131,980

Asia Pacific 70,981 62,875

Total business optimization costs $ 307,541 $ 615,324

New Accounting Pronouncements

20 unchanged sentences

Remaining Performance Obligations

We had remaining performance obligations of approximately $ 35 billion and $ 34 billion as of November 30, 2025 and August 31, 2025, respectively.

We had remaining performance obligations of approximately $ 37 billion and $ 34 billion as of February 28, 2026 and August 31, 2025, respectively.

Our remaining performance obligations represent the amount of transaction price for which work has not been performed and revenue has not been recognized.

3 unchanged sentences

Based on the terms of our contracts, a significant portion of what we consider contract bookings is not included in our remaining performance obligations.

We expect to recognize approximately 54 % of our remaining performance obligations as of November 30, 2025 as revenue in fiscal 2026, an additional 20 % in fiscal 2027, and the balance thereafter.

We expect to recognize approximately 46 % of our remaining performance obligations as of February 28, 2026 as revenue in fiscal 2026, an additional 25 % in fiscal 2027, and the balance thereafter.

Contract Estimates

Adjustments in contract estimates related to performance obligations satisfied or partially satisfied in prior periods were immaterial for the three months ended November 30, 2025 and 2024, respectively.

Adjustments in contract estimates related to performance obligations satisfied or partially satisfied in prior periods were immaterial for the three and six months ended February 28, 2026 and 2025, respectively.

Contract Balances

Deferred transition revenues were $ 727,393 and $ 642,361 as of November 30, 2025 and August 31, 2025, respectively, and are included in Non-current deferred revenues.

Deferred transition revenues were $ 827,849 and $ 642,361 as of February 28, 2026 and August 31, 2025, respectively, and are included in Non-current deferred revenues.

Costs related to these activities are also deferred and are expensed as the services are provided.

Deferred transition costs were $ 1,045,856 and $ 1,025,391 as of November 30, 2025 and August 31, 2025, respectively, and are included in Deferred contract costs.

Deferred transition costs were $ 1,097,567 and $ 1,025,391 as of February 28, 2026 and August 31, 2025, respectively, and are included in Deferred contract costs.

Generally, deferred transition costs are recoverable under the contract in the event of early termination and are monitored regularly for impairment.

1 unchanged sentence

The following table provides information about the balances of our Receivables and Contract assets, net of allowance, and Contract liabilities (Deferred revenues):

November 30, 2025 August 31, 2025

February 28, 2026 August 31, 2025

Receivables $ 13,761,417 $ 13,065,433

4 unchanged sentences

Deferred revenues (non-current) 827,849 642,361

Changes in the contract asset and liability balances during the three months ended November 30, 2025 were a result of normal business activity and not materially impacted by any other factors.

Revenues recognized during the three months ended November 30, 2025 that were included in Deferred revenues as of August 31, 2025 were $ 3.3 billion.

Revenues recognized during the three months ended November 30, 2024 that were included in Deferred revenues as of August 31, 2024 were $ 2.8 billion.

Changes in the contract asset and liability balances during the six months ended February 28, 2026 were a result of normal business activity and not materially impacted by any other factors.

Revenues recognized during the three and six months ended February 28, 2026 that were included in Deferred revenues as of November 30, 2025 and August 31, 2025 were $ 3.0 billion and $ 4.4 billion, respectively.

Revenues recognized during the three and six months ended February 28, 2025 that were included in Deferred revenues as of November 30, 2024 and August 31, 2024 were $ 2.6 billion and $ 3.7 billion, respectively.

Notes To Consolidated Financial Statements

4 unchanged sentences

Basic and diluted earnings per share are calculated as follows:

Three Months Ended

November 30, 2025 November 30, 2024

Three Months Ended Six Months Ended

February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

Basic earnings per share

23 unchanged sentences

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive loss attributable to Accenture plc:

Three Months Ended

November 30, 2025 November 30, 2024

Three Months Ended Six Months Ended

February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

Foreign currency translation

7 unchanged sentences

Beginning balance ( 129,120 ) ( 269,930 ) ( 195,940 ) ( 254,172 )

Reclassifications into net periodic pension and post-retirement expense 82,373 ( 17,680 )

Actuarial gains (losses) 30,227 — 109,527 —

Prior service costs arising during the period ( 102,407 ) — ( 102,407 ) —

Reclassifications into net periodic pension and

post-retirement expense 7,778 4,255 10,851 ( 13,425 )

Income tax benefit (expense) 17,403 ( 833 ) 1,913 1,074

11 unchanged sentences

Accumulated other comprehensive loss $ ( 1,400,486 ) $ ( 2,308,430 ) $ ( 1,400,486 ) $ ( 2,308,430 )

(1) As of November 30, 2025, $ 140,853 of net unrealized losses related to derivatives designated as cash flow hedges is expected to be reclassified into Cost of services in the next twelve months.

(1) As of February 28, 2026, $ 206,534 of net unrealized losses related to derivatives designated as cash flow hedges are expected to be reclassified into Cost of services in the next twelve months.

Notes To Consolidated Financial Statements

3 unchanged sentences

Business Combinations

During the three months ended November 30, 2025, we completed individually immaterial acquisitions for total consideration of $ 307,040 , net of cash acquired.

During the six months ended February 28, 2026, we completed individually immaterial acquisitions for total consideration of $ 1,856,740 , net of cash acquired.

The pro forma effects of these acquisitions on our operations were not material.

3 unchanged sentences

Adjustments Foreign

Translation November 30, 2025

Translation February 28,

Americas $ 12,414,698 $ 1,347,619 $ 19,093 $ 13,781,410

5 unchanged sentences

Our definite-lived intangible assets by major asset class are as follows:

November 30, 2025 August 31, 2025

February 28, 2026 August 31, 2025

Intangible Asset Class Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount

4 unchanged sentences

Total $ 4,577,580 $ ( 2,029,046 ) $ 2,548,534 $ 4,269,992 $ ( 1,859,237 ) $ 2,410,755

Total amortization related to our intangible assets was $ 152,447 and $ 160,214 for the three months ended November 30, 2025 and 2024, respectively.

Estimated future amortization related to intangible assets held as of November 30, 2025 is as follows:

Total amortization related to our intangible assets was $ 171,754 and $ 324,201 for the three and six months ended February 28, 2026, respectively.

Total amortization related to our intangible assets was $ 152,162 and $ 312,376 for the three and six months ended February 28, 2025, respectively.

Estimated future amortization related to intangible assets held as of February 28, 2026 is as follows:

Fiscal Year Estimated Amortization

7 unchanged sentences

Shareholders’ Equity

Our dividend activity during the three months ended November 30, 2025 is as follows:

Our dividend activity during the six months ended February 28, 2026 is as follows:

Share Accenture plc Class A

3 unchanged sentences

November 14, 2025 $ 1.63 October 10, 2025 $ 1,008,864 October 9, 2025 $ 952 $ 1,009,816

February 13, 2026 1.63 January 13, 2026 1,006,750 January 12, 2026 946 1,007,696

Total Dividends $ 2,015,614 $ 1,898 $ 2,017,512

The payment of cash dividends includes the net effect of $ 56,954 of additional restricted stock units being issued as a part of our share plans, which resulted in 255,882 restricted share units being issued.

Subsequent Event

On December 17, 2025, the Board of Directors of Accenture plc declared a quarterly cash dividend of $ 1.63 per share on our Class A ordinary shares for shareholders of record at the close of business on January 13, 2026 payable on February 13, 2026.

On March 18, 2026, the Board of Directors of Accenture plc declared a quarterly cash dividend of $ 1.63 per share on our Class A ordinary shares for shareholders of record at the close of business on April 9, 2026 payable on May 15, 2026.

Notes To Consolidated Financial Statements

7 unchanged sentences

For a cash flow hedge, the effective portion of the change in estimated fair value of a hedging instrument is recorded in Accumulated other comprehensive loss as a separate component of Shareholders’ Equity and is reclassified into Cost of services in the Consolidated Income Statements during the period in which the hedged transaction is recognized.

For information related to derivatives designated as cash flow hedges that were reclassified into Cost of services during the three months ended November 30, 2025 and 2024, as well as those expected to be reclassified into Cost of services in the next twelve months, see Note 4 (Accumulated Other Comprehensive Loss) to these Consolidated Financial Statements.

For information related to derivatives designated as cash flow hedges that were reclassified into Cost of services during the three and six months ended February 28, 2026 and 2025, as well as those expected to be reclassified into Cost of services in the next twelve months, see Note 4 (Accumulated Other Comprehensive Loss) to these Consolidated Financial Statements.

Other Derivatives

Realized gains or losses and changes in the estimated fair value of foreign currency forward contracts that have not been designated as hedges were net losses of $ 24,730 and $ 4,256 for the three months ended November 30, 2025 and 2024, respectively, Gains and losses on these contracts are recorded in Other income (expense), net in the Consolidated Income Statements and are offset by gains and losses on the related hedged items.

Realized gains or losses and changes in the estimated fair value of foreign currency forward contracts that have not been designated as hedges were net losses of $ 12,718 and $ 37,448 for the three and six months ended February 28, 2026, respectively, and net losses of $ 12,442 and $ 16,698 for the three and six months ended February 28, 2025, respectively.

Gains and losses on these contracts are recorded in Other income (expense), net in the Consolidated Income Statements and are offset by gains and losses on the related hedged items.

Fair Value of Derivative Instruments

The notional and fair values of all derivative instruments are as follows:

November 30, 2025 August 31, 2025

February 28, 2026 August 31, 2025

Cash Flow Hedges

15 unchanged sentences

The potential effect of netting derivative assets against liabilities under the counterparty master agreements is as follows:

November 30, 2025 August 31, 2025

February 28, 2026 August 31, 2025

Net derivative assets $ 15,632 $ 767

12 unchanged sentences

Accenture plc and Accenture Capital are not subject to any financial covenants under the senior unsecured notes.

The following is a summary of total outstanding debt as of November 30, 2025 and August 31, 2025 , respectively:

November 30, 2025 August 31, 2025

The following is a summary of total outstanding debt as of February 28, 2026 and August 31, 2025 , respectively:

February 28, 2026 August 31, 2025

Current portion of long-term debt and bank borrowings

16 unchanged sentences

Total long-term debt $ 5,030,322 $ 5,034,169

(1) The carrying amounts of the commercial paper as of November 30, 2025 and August 31, 2025 include the remaining principal outstanding of $ 100,000 and $ 100,000 , respectively, net of total unamortized discounts of $ 754 and $ 37 , respectively.

The weighted-average effective interest rate for the commercial paper was 4.1 % and 4.5 % as of November 30, 2025 and August 31, 2025 , respectively.

(1) The carrying amounts of the commercial paper as of February 28, 2026 and August 31, 2025 include the remaining principal outstanding of $ 100,000 and $ 100,000 , respectively, net of total unamortized discounts of $ 419 and $ 37 , respectively.

The weighted-average effective interest rate for the commercial paper was 3.8 % and 4.5 % as of February 28, 2026 and August 31, 2025 , respectively.

(2) Amounts primarily include finance lease liabilities.

(3) The total estimated fair value of our senior notes was $ 5.0 billion as of November 30, 2025.

The fair value was determined based on quoted prices as of the last trading day of the first quarter of fiscal 2026 and is classified as Level 2 within the fair value hierarchy.

As of November 30, 2025, future principal payments for total outstanding debt, excluding finance leases, are summarized as follows:

(3) The total estimated fair value of our senior notes was $ 5.0 billion as of February 28, 2026.

The fair value was determined based on quoted prices as of the last trading day of the second quarter of fiscal 2026 and is classified as Level 2 within the fair value hierarchy.

As of February 28, 2026, future principal payments for total outstanding debt, excluding finance leases, are summarized as follows:

Fiscal Year Amount

8 unchanged sentences

ACCENTURE FORM 10-Q

As of November 30, 2025, we had the following borrowing facilities:

As of February 28, 2026, we had the following borrowing facilities:

Credit Facilities

10 unchanged sentences

Interest rate terms on the revolving facilities are at market rates prevailing in the relevant local markets.

As of November 30, 2025 and August 31, 2025 , we had no borrowings under these facilities.

As of February 28, 2026 and August 31, 2025 , we had no borrowings under these facilities.

(3) We also maintain local guaranteed and non-guaranteed lines of credit for those locations that cannot access our global facilities.

As of November 30, 2025 and August 31, 2025 , we had no borrowings under these various facilities.

We had an aggregate of $ 1,372,445 and $ 1,373,620 of letters of credit outstanding and $ 100,000 and $ 100,000 (excluding unamortized discounts) of commercial paper outstanding as of November 30, 2025 and August 31, 2025, respectively.

As of February 28, 2026 and August 31, 2025 , we had no borrowings under these various facilities.

We had an aggregate of $ 1,393,805 and $ 1,373,620 of letters of credit outstanding and $ 100,000 and $ 100,000 (excluding unamortized discounts) of commercial paper outstanding as of February 28, 2026 and August 31, 2025, respectively.

The amount of letters of credit and commercial paper outstanding reduces the available borrowing capacity under the facilities described above.

1 unchanged sentence

In addition, we recognize taxes related to unusual or infrequent items or resulting from a change in judgment regarding a position taken in a prior year as discrete items in the interim period in which the event occurs.

Our effective tax rates for the three months ended November 30, 2025 and 2024 were 24.5 % and 21.6 %, respectively.

The higher effective tax rate for the three months ended November 30, 2025 was primarily due to reduced benefits from adjustments to prior year tax liabilities.

Our effective tax rates for the three months ended February 28, 2026 and 2025 were 24.3 % and 20.4 %, respectively.

The higher effective tax rate for the three months ended February 28, 2026 was primarily due to reduced tax benefits from share-based payments and final determinations of prior year taxes, partially offset by reduced tax expense from changes in the geographic distribution of earnings.

Our effective tax rates for the six months ended February 28, 2026 and 2025 were 24.4 % and 21.1 %, respectively.

The higher effective tax rate for the six months ended February 28, 2026 was primarily due to reduced tax benefits from adjustments to prior year tax liabilities and share-based payments.

Notes To Consolidated Financial Statements

5 unchanged sentences

In the normal course of business and in conjunction with certain client engagements, we have entered into contractual arrangements through which we may be obligated to indemnify clients with respect to certain matters.

As of November 30, 2025 and August 31, 2025, our aggregate potential liability to our clients for expressly limited guarantees involving the performance of third parties was approximately $ 2,418,000 and $ 2,225,000 , respectively, of which all but approximately $ 54,000 and $ 55,000 , respectively, may be recovered from the other third parties if we are obligated to make payments to the indemnified parties as a consequence of a performance default by the other third parties.

As of February 28, 2026 and August 31, 2025, our aggregate potential liability to our clients for expressly limited guarantees involving the performance of third parties was approximately $ 2,198,000 and $ 2,225,000 , respectively, of which all but approximately $ 57,000 and $ 55,000 , respectively, may be recovered from the other third parties if we are obligated to make payments to the indemnified parties as a consequence of a performance default by the other third parties.

For arrangements with unspecified limitations, we cannot reasonably estimate the aggregate maximum potential liability, as it is inherently difficult to predict the maximum potential amount of such payments, due to the conditional nature and unique facts of each particular arrangement.

As of November 30, 2025 and August 31, 2025, we have issued or provided guarantees in the form of letters of credit and surety bonds of $ 2,010,269 ($ 1,794,204 net of recourse provisions) and $ 1,997,596 ($ 1,788,832 net of recourse provisions), respectively, the majority of which support certain contracts that require us to provide them as a guarantee of our performance.

As of February 28, 2026 and August 31, 2025, we have issued or provided guarantees in the form of letters of credit and surety bonds of $ 2,056,382 ($ 1,844,413 net of recourse provisions) and $ 1,997,596 ($ 1,788,832 net of recourse provisions), respectively, the majority of which support certain contracts that require us to provide them as a guarantee of our performance.

These guarantees are typically renewed annually and remain in place until the contractual obligations are satisfied.

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Legal Contingencies

As of November 30, 2025, we or our present personnel had been named as a defendant in various litigation matters.

As of February 28, 2026, we or our present personnel had been named as a defendant in various litigation matters.

We and/or our personnel also from time to time are involved in investigations by various regulatory or legal authorities concerning matters arising in the course of our business around the world.

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Our expenses primarily consist of employee compensation costs, subcontractor costs and facilities and technology costs.

Three Months Ended November 30, 2025 Americas EMEA Asia Pacific Total

Three Months Ended February 28, 2026 Americas EMEA Asia Pacific Total

Revenues $ 8,896,402 $ 6,569,391 $ 2,578,273 $ 18,044,066

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Depreciation and amortization (2) 191,595 151,190 50,738 393,523

Operating income 1,393,059 676,747 423,741 2,493,547

Net assets as of February 28, 2026 (4) 6,147,106 3,016,035 495,697 9,658,838

Property & equipment, net as of February 28, 2026 569,721 513,096 518,006 1,600,823

Three Months Ended February 28, 2025

Revenues $ 8,553,098 $ 5,803,875 $ 2,302,328 $ 16,659,301

Payroll costs 5,652,551 4,040,884 1,492,598 11,186,033

Non-payroll costs including subcontractor costs (1) 1,457,987 992,021 405,226 2,855,234

Depreciation and amortization (2) 202,117 131,735 39,468 373,320

Operating income 1,240,443 639,235 365,036 2,244,714

Net assets as of February 28, 2025 (4) 5,500,028 3,115,449 637,455 9,252,932

Property & equipment, net as of February 28, 2025 615,276 466,836 428,729 1,510,841

Six Months Ended February 28, 2026 Americas EMEA Asia Pacific Total

Revenues $ 17,976,461 $ 13,504,624 $ 5,305,106 $ 36,786,191

Payroll costs 11,649,198 9,233,454 3,300,805 24,183,457

Non-payroll costs including subcontractor costs (1) 2,971,863 2,227,791 962,828 6,162,482

Depreciation and amortization (2) 368,257 296,330 100,879 765,466

Business optimization costs (3) 66,749 169,811 70,981 307,541

Operating income 2,920,394 1,577,238 869,613 5,367,245

Net assets as of November 30, 2025 (4) 6,231,379 4,318,954 468,254 11,018,587

Property & equipment, net as of November 30, 2025 576,997 506,365 474,954 1,558,316

Three Months Ended November 30, 2024

Net assets as of February 28, 2026 (4) 6,147,106 3,016,035 495,697 9,658,838

Property & equipment, net as of February 28, 2026 569,721 513,096 518,006 1,600,823

Six Months Ended February 28, 2025

Revenues $ 17,286,193 $ 12,215,827 $ 4,846,826 $ 34,348,846

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Operating income 2,617,677 1,675,212 900,302 5,193,191

Net assets as of November 30, 2024 (4) 5,469,264 4,152,416 640,533 10,262,213

Property & equipment, net as of November 30, 2024 614,457 445,904 447,099 1,507,460

Net assets as of February 28, 2025 (4) 5,500,028 3,115,449 637,455 9,252,932

Property & equipment, net as of February 28, 2025 615,276 466,836 428,729 1,510,841

(1) Non-payroll costs primarily include subcontractor costs and other non-payroll such as facilities, technology and travel costs.

(2) Amounts include depreciation on property and equipment and amortization of intangible assets and deferred transition costs.

(3) Costs recorded in connection with business optimization actions initiated during the fourth quarter of fiscal 2025 and completed during the first quarter of fiscal 2026, primarily for employee severance.

(3) Costs recorded in connection with business optimization actions initiated during the fourth quarter of fiscal 2025 and completed during the first quarter of fiscal 2026.

We recorded a total of $ 923 million under the program, including $ 628 million of employee severance and $ 295 million primarily related to the divestiture of two acquisitions in the Americas.

(4) We do not allocate total assets by reportable segment.

Reportable segment assets directly attributable to a reportable segment and provided to the chief operating decision makers include receivables and current and non-current contract assets, deferred contract costs and current and non-current deferred revenues.

Notes To Consolidated Financial Statements

(In thousands of U.S.

dollars, except share and per share amounts or as otherwise disclosed)

ACCENTURE FORM 10-Q

Revenues by industry group and type of work are as follows:

Three Months Ended

November 30, 2025 November 30, 2024

Three Months Ended Six Months Ended

February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

Industry Groups

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Risks, uncertainties and other factors that might cause such differences, some of which could be material, include but are not lim ited to those identified below.

Many of the following risks, uncertainties and other factors identified below may be amplified by conflict in the Middle East, as well as any escalation or expansion of economic disruption or the conflict’s current scope.

Business Risks

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While the discretionary environment is unchanged, clients continue to prioritize large-scale transformations, which include becoming AI-ready.

Key metrics for the first quarter of fiscal 2026 compared to the first quarter of fiscal 2025 are included below.

We have presented operating income, operating margin, effective tax rate and diluted earnings per share for the first quarter of fiscal 2026 on a non-GAAP or “adjusted” basis to exclude the impact of $308 million in business optimization costs recorded during the quarter.

For additional information regarding our business optimization actions and related costs, see Note 1 (Basis of Presentation) to our Consolidated Financial Statements under Item 1, “Financial Statements.”

Key metrics for the second quarter of fiscal 2026 compared to the second quarter of fiscal 2025 are included below.

• Revenues of $18.0 billion, an increase of 8% in U.S.

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dollars and 1% in local currency;

• Operating margin of 15.3%, compared to operating margin of 16.7% in the first quarter of fiscal 2025;

adjusted operating margin was 17.0%.

• Diluted earnings per share of $3.54, compared to diluted earnings per share of $3.59, a 1% decrease from the first quarter of fiscal 2025;

adjusted earnings per share increased 10% to $3.94;

• Operating margin of 13.8%, compared to operating margin of 13.5% in the second quarter of fiscal 2025;

• Diluted earnings per share of $2.93, compared to diluted earnings per share of $2.82, a 4% increase over the second quarter of fiscal 2025;

• Cash returned to shareholders of $2.7 billion, including dividends of $1.0 billion and share purchases of $1.7 billion.

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(in billions of U.S.

dollars) November 30, 2025 November 30, 2024 November 30, 2025 November 30, 2024

dollars) February 28, 2026 February 28, 2025 February 28, 2026 February 28, 2025

Geographic Markets Americas $ 8.9 $ 8.6 4 % 3 % 49 % 51 %

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Amounts in table may not total due to rounding.

Revenues for the second quarter of fiscal 2026 increased 8% in U.S.

dollars and 4% in local currency compared to the second quarter of fiscal 2025.

During the second quarter of fiscal 2026, revenue growth in local currency was very strong in Asia Pacific and modest in the Americas and EMEA.

We experienced local currency revenue growth that was very strong in Communications, Media & Technology, strong in Financial Services and modest in Products and Resources, partially offset by a slight decline in Health & Public Service.

Revenue growth in local currency was solid in managed services and modest in consulting.

While the business environment remained competitive, pricing improved in some areas of our business.

We define pricing as the contract profitability or margin on the work that we sell.

In our consulting business, revenues for the second quarter of fiscal 2026 increased 7% in U.S.

dollars and 3% in local currency compared to the second quarter of fiscal 2025.

Consulting revenue growth in local currency for the second quarter of fiscal 2026 was driven by very strong growth in Asia Pacific and modest growth in the Americas, partially offset by a modest decline in

ACCENTURE FORM 10-Q

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements