v3.23.2
Employee Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 2023
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations
Change in Plan Assets
Plan assets as of January 1, 2023$14,449 
Actual return692 
Employer contribution— 
Benefits paid*(542)
Effect of exchange rate changes121 
Plan assets as of June 30, 2023
$14,720 

* Benefits payments were substantially made through the plan assets during the six months ended June 30, 2023.
Components of Net Periodic Benefit Cost
Components of net periodic benefit costs recognized in unaudited consolidated statements of income and actuarial (gain)/loss reclassified from AOCI, were as follows:
 Three months ended June 30,Six months ended June 30,
 2023202220232022
Service cost$953 $958 $1,909 $1,948 
Interest cost393 313 788 636 
Expected return on plan assets(264)(221)(527)(449)
Amortization of actuarial (gain)/loss, gross of tax(23)149 (48)304 
Net gratuity cost$1,059 $1,199 $2,122 $2,439 
Amortization of actuarial (gain)/loss, gross of tax$(23)$149 $(48)$304 
Income tax effects on above(18)(45)(37)(92)
Amortization of actuarial (gain)/loss, net of tax$(41)$104 $(85)$212 
Schedule of Company's Contribution Plan
The Company’s accrual for contribution to the 401(k) Plans was as follows:

Three months ended June 30,Six months ended June 30,
2023202220232022
Contribution to the 401(k) Plans$1,178 $1,026 $3,564 $3,043 

The Company’s contribution for various defined social security contribution plans on behalf of employees in foreign subsidiaries of the Company was as follows:
Three months ended June 30,Six months ended June 30,
2023202220232022
Contributions to the defined social security contribution plans$5,604 $4,549 $10,996 $8,762