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Employee benefit plans (Tables)

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Schedule of funded status of the Company's defined benefit plans and the amounts recognized

The following table sets forth the funded status of the Company’s defined benefit plans and the amounts recognized in the Company’s financial statements based on actuarial valuations carried out as of December 31, 2021 and 2022.

			As of December 31,
			2021						2022
Change in benefit obligation
Projected benefit obligation at the beginning of the year			$	97,660					$	91,782
Service cost			14,546						14,248
Actuarial loss/(Gain)			(10,436)						(2,136)
Interest cost			5,497						5,790
Benefits paid			(9,162)						(12,602)
Settlements			(4,328)						(875)
Curtailments			(181)						(6)
Loss/(Gain) on exchange rate changes			(1,814)						(9,202)
Projected benefit obligation at the end of the year			$	91,782					$	86,999
Change in fair value of plan assets
Fair value of plan assets at the beginning of the year			$	93,809					$	96,975
Employer contributions			12,907						2,350
Actual gain on plan assets			4,831						4,704
Benefits paid			(9,162)						(13,143)
Settlements			(3,495)						(824)
(Loss)/Gain on exchange rate changes			(1,915)						(9,622)
Fair value of plan assets at the end of the year			$	96,975					$	80,440
Funded status, end of year			$	5,193					$	(6,559)
Amounts recognized in the consolidated balance sheets
Non-current assets (recorded under other assets-others)			$	18,932					$	5,860
Current liabilities (recorded under accrued expenses and other current liabilities-retirement benefits)			(1,746)						(1,725)
Non-current liabilities (recorded under other liabilities- retirement benefits)			(11,993)						(10,694)
Funded status, end of year			$	5,193					$	(6,559)

Schedule of amounts included in accumulated other comprehensive income (loss)

Amounts included in accumulated other comprehensive income (loss) as of December 31, 2020, 2021 and 2022 were as follows:

			As of December 31,
			2020						2021						2022
Net actuarial loss			$	(24,669)					$	(13,399)					$	(10,453)
Net prior service credit / (cost)			(477)						(300)						(124)
Deferred tax benefits			7,065						3,206						2,516
Other comprehensive income (loss), net			$	(18,081)					$	(10,493)					$	(8,061)

Schedule of changes in other comprehensive income (loss)

Changes in other comprehensive income (loss) during the year ended December 31, 2021 and 2022 were as follows:

			As of December 31,
			2021						2022
Net Actuarial (Loss) Gain			$	9,019					$	891
Amortization of net actuarial loss			1,379						662
Deferred tax (expense) benefits			(3,859)						(690)
Net prior service credit / (cost)			170						154
Curtailment			181						6
Settlements			519						49
Effect of exchange rate changes			179						1,360
Other comprehensive income (loss), net			$	7,588					$	2,432

Schedule of accumulated benefit obligation for defined benefit plans

The accumulated benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2021 and 2022 was as follows:

			As of December 31,
			2021						2022
Accumulated benefit obligation			$	12,496					$	12,328
Fair value of plan assets at the end of the year			$	3,161					$	3,822

The projected benefit obligation for defined benefit plans in excess of plan assets as of December 31, 2021 and 2022 was as follows:

			As of December 31,
			2021						2022
Projected benefit obligation			$	18,806					$	16,207
Fair value of plan assets at the end of the year			$	5,067					$	3,822

Schedule of net defined benefit plan costs

Net defined benefit plan costs for the years ended December 31, 2020, 2021 and 2022 include the following components:

			Year ended December 31,
			2020						2021						2022
Service costs			$	11,897					$	14,546					$	14,248
Interest costs			5,297						5,497						5,790
Amortization of actuarial loss			2,461						1,549						859
Expected return on plan assets			(4,589)						(6,239)						(5,949)
Settlements			—						519						127
Net defined benefit plan costs			$	15,066					$	15,872					$	15,075

Schedule of weighted average assumptions used to determine benefit obligations and plan costs

The weighted average assumptions used to determine the benefit obligations of the Indian Gratuity Plan as of December 31, 2021 and 2022 are presented below: 

			As of December 31,
			2021												2022
Discount rate			5.25		%	-			6.45%						7.45		%	-			7.70%
Rate of increase in compensation per annum			4.60		%	-			8.00%						5.20		%	-			9.00%

The weighted average assumptions used to determine the Indian Gratuity Plan costs for the years ended December 31, 2020, 2021 and 2022 are presented below: 

			Year ended December 31,
			2020												2021												2022
Discount rate			6.80 %			-			7.35 %						4.45 %			-			5.90 %						5.25%			-			6.45%
Rate of increase in compensation per annum			5.20 %			-			11.50 %						5.20 %			-			9.00 %						4.60%			-			8.00%
Expected long term rate of return on plan assets per annum			7.50%												7.00%			-			7.50%						7.00%			-			7.20%

The weighted average assumptions used to determine the benefit obligations of the Mexican Plan as of December 31, 2021 and 2022 are presented below:

			As of December 31,
			2021						2022
Discount rate			8.20		%				9.30		%
Rate of increase in compensation per annum			5.50		%				5.50		%

The weighted average assumptions used to determine the costs of the Mexican Plan for the years ended December 31, 2020, 2021 and 2022 are presented below: 

			Year ended December 31,
			2020						2021						2022
Discount rate			7.60		%				7.20		%				8.20		%
Rate of increase in compensation per annum			5.50		%				5.50		%				5.50		%

The weighted average assumptions used to determine the benefit obligations of the Philippines Plan as of December 31, 2021 and 2022 are presented below:

			As of December 31,
			2021												2022
Discount rate			7.67%												9.80%
Rate of increase in compensation per annum			3.00		%	-			6.00		%				5.30%

The weighted average assumptions used to determine the costs of the Philippines Plan for the years ended December 31, 2020, 2021 and 2022 are presented below: 

			Year ended December 31,
			2020						2021						2022
Discount rate			5.22		%				5.26		%				7.67		%
Rate of increase in compensation per annum			6.00		%				5.00		%				6.00		%
Expected long-term rate of return on plan assets per annum			2.40		%				2.00		%				2.00		%

The weighted average assumptions used to determine the benefit obligation of the Japan Plan as of December 31, 2021 and 2022 are presented below:

			As of December 31,
			2021												2022
Discount rate			0.14%			—			0.81%						0.14%			—			0.94%
Rate of increase in compensation per annum			0.00%												0.00%

The weighted average assumptions used to determine the costs of the Japan Plan for the years ended December 31, 2020, 2021 and 2022 are presented below:

			Year ended December 31,
			2020												2021												2022
Discount rate			0.094 %			-			0.271 %						0.17%			-			0.41%						0.14		%	-			0.81%
Rate of increase in compensation per annum			0.00 %												0.00 %												0.00%
Expected long term rate of return on plan assets per annum			0.00 %			-			1.77 %						1.77%			-			3.12%						1.77		%	-			3.12%

Schedule of fair values of plan assets

The fair values of the Company’s plan assets as of December 31, 2021 and 2022 by asset category are as follows: 

			As of December 31, 2021
			Fair Value Measurements at Reporting Date Using
									Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Other Unobservable Inputs
			Total						(Level 1)						(Level 2)						(Level 3)
Asset Category
Cash			14,059						14,059						—						—
Fixed income securities (Note a)			80,612						—						80,612						—
Other securities (Note b)			2,304						—						2,304						—
Total			$	96,975					$	14,059					$	82,916					$	—

			As of December 31, 2022
			Fair Value Measurements at Reporting Date Using
									Quoted Prices in Active Markets for Identical Assets						Significant Other Observable Inputs						Significant Other Unobservable Inputs
			Total						(Level 1)						(Level 2)						(Level 3)
Asset Category
Cash			2,423						2,423						—						—
Fixed income securities (Note a)			77,722						—						77,722						—
Other securities (Note b)			295						—						295						—
Total			$	80,440					$	2,423					$	78,017					$	—

(a)Includes investments in funds that invest 100% of their assets in fixed income securities such as money market instruments, government securities and public and private bonds.

(b)Includes investments in funds that invest primarily in equity securities.

Schedule of expected benefit plan payments

The expected benefit plan payments set forth below reflect expected future service:

 

Year ending December 31,
2023			$	15,091
2024			14,533
2025			15,139
2026			17,939
2027			18,821
2028 - 2032			93,941
			$	175,464

Schedule of amounts contributed to defined contribution plans in various jurisdictions

During the years ended December 31, 2020, 2021 and 2022, the Company contributed the following amounts to defined contribution plans in various jurisdictions:

			Year ended December 31,
			2020						2021						2022
India			$	30,396					$	37,508					$	43,805
U.S.			19,491						21,496						23,084
U.K.			18,643						19,874						20,763
China			16,436						24,988						26,514
Other regions			11,481						15,516						18,062
Total			$	96,447					$	119,382					$	132,228

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