v3.24.2.u1
Employee Benefit Plans (Tables)
6 Months Ended
Jun. 30, 2024
Retirement Benefits [Abstract]  
Schedule of Changes in Projected Benefit Obligations
Change in Plan Assets
Plan assets as of January 1, 2024$17,134 
Actual return634 
Employer contribution1,489 
Benefits paid(667)
Currency translation adjustments(38)
Plan assets as of June 30, 2024
$18,552 
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,
 2024202320242023
Service cost$1,100 $953 $2,208 $1,909 
Interest cost386 393 774 788 
Expected return on plan assets(310)(264)(622)(527)
Amortization of actuarial (gain)/loss, gross of tax(147)(23)(302)(48)
Net gratuity cost$1,029 $1,059 $2,058 $2,122 
Amortization of actuarial (gain)/loss, gross of tax$(147)$(23)$(302)$(48)
Income tax effects on above(1)(18)(2)(37)
Amortization of actuarial (gain)/loss, net of tax$(148)$(41)$(304)$(85)
Schedule of Company's Contribution Plan
The Company’s contributions to various defined contribution plans was as follows:
Three months ended June 30,Six months ended June 30,
2024202320242023
Contribution to the 401(k) Plans$1,190 $1,178 $3,633 $3,564 
Contributions to the defined contribution plans on behalf of employees in foreign subsidiaries of the Company
$6,891 $5,604 $13,640 $10,996