17.

VACATION PAY

The accrual for unutilized leave balance is determined for the entire available leave balance standing to the credit of the employees at period end. The leave balance eligible for carry-forward is valued at gross compensation rates and eligible for compulsory encashment at basic compensation rates.

The gross charge for unutilized earned leave was $1.5 million and $1.5 million for the three months ended September 30, 2015 and 2014, respectively.

The amounts accrued for unutilized earned leave are $23 million and $21.5 million as of September 30, 2015 and December 31, 2014, respectively, and are included within accrued payroll and related costs.