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Related party transactions
3 Months Ended
Mar. 31, 2016
Related party transactions

23. Related party transactions

The Company has entered into related party transactions with its non-consolidating affiliates. The Company has also entered into related party transactions with a significant shareholder and its affiliates.

The Company’s related party transactions can be categorized as follows:

Revenue from services

For the three months ended March 31, 2015 and 2016, the Company recognized net revenues of $99 and $79, respectively, from a client that is a significant shareholder of the Company.

For the three months ended March 31, 2015 and 2016, the Company recognized net revenues of $2,039 and $1,652, respectively, from a client that is a non-consolidating affiliate of the Company. $1,095 of this amount is receivable as of March 31, 2016.

Cost of revenue from services

The Company purchases certain services from its non-consolidating affiliates, mainly relating to training and recruitment, which are included in cost of revenue. For the three months ended March 31, 2015 and 2016, cost of revenue includes $390 and $498, respectively, attributable to the cost of services provided by the Company’s non-consolidating affiliates.

 

Selling, general and administrative expenses

The Company purchases certain services from its non-consolidating affiliates, mainly relating to training and recruitment, the costs of which are included in selling, general and administrative expenses. For the three months ended March 31, 2015 and 2016, selling, general and administrative expenses includes $95 and $67, respectively, attributable to the cost of services provided by the Company’s non-consolidating affiliates.

During the three months ended March 31, 2015 and 2016, the Company engaged a significant shareholder to provide services to the Company at a cost of $399 and $15 respectively.

Investment in equity affiliates

During the three months ended March 31, 2016, the Company invested $3,783 in its non-consolidating affiliates. As of December 31, 2015 and March 31, 2016, $3,736 and $3,736, respectively, in investments in equity affiliates was accrued but not paid and has been included in accrued expenses and other current liabilities in the Company’s consolidated balance sheet.

As of December 31, 2015 and March 31, 2016, the Company’s investments in its non-consolidating affiliates amounted to $6,677 and $8,315, respectively.

Others

During the three months ended March 31, 2016, the Company also entered into transactions with one of its non-consolidating affiliates for certain cost reimbursements amounting to $329. As of December 31, 2015 and March 31, 2016, $853 and $329 is receivable, respectively.