XML 62 R47.htm IDEA: XBRL DOCUMENT v3.24.0.1
Property and Equipment (Tables)
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment
Property and equipment consists of the following:
As of
Estimated useful lives (Years)December 31, 2023December 31, 2022
Owned Assets:
Network equipment and computers
3-5
$149,975 $130,218 
Software
2-5
94,279 88,487 
Leasehold improvements
3-8
41,933 42,890 
Office furniture and equipment
3-8
21,199 20,211 
Motor vehicles
2-5
686 605 
Buildings
30
956 961 
Land—625 629 
Capital work in progress—12,276 14,459 
321,929 298,460 
Less: Accumulated depreciation and amortization(222,333)(216,132)
$99,596 $82,328 
ROU assets under finance leases:
Network equipment and computers58 82 
Leasehold improvements604 1,013 
Office furniture and equipment427 662 
Motor vehicles1,020 742 
2,109 2,499 
Less: Accumulated depreciation(1,332)(1,999)
$777 $500 
Property and equipment, net$100,373 $82,828 
The depreciation and amortization expense, excluding amortization of acquisition-related intangibles, recognized in the consolidated statements of income was as follows:
Year ended December 31,
202320222021
Depreciation and amortization expense$35,812 $39,173 $36,354 
The effect of foreign exchange gain/(loss) upon settlement of cash flow hedges recorded under depreciation and amortization expense, was as follows:
Year ended December 31,
202320222021
Effect of foreign exchange gain/(loss)$(210)$(180)$524 
Internally developed software costs, included under Software, was as follows:
As of
December 31, 2023December 31, 2022
Cost$46,625 $31,544 
Less : Accumulated amortization(25,413)(16,134)
Internally developed software, net$21,212 $15,410 

The amortization expense on internally developed software recognized in the consolidated statements of income was as follows:
Year ended December 31,
202320222021
Amortization expense$9,282 $5,958 $4,253