Property and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following:



		As of
	Estimated useful lives (Years)	December 31, 2017			December 31, 2016
Owned Assets:
Network equipment and computers	3-5	$	77,587		$	65,381
Software	3-5	59,325			44,617
Leasehold improvements	3-8	38,857			31,192
Office furniture and equipment	3-8	19,667			15,426
Motor vehicles	2-5	638			580
Buildings	30	1,245			1,171
Land	-	815			766
Capital work in progress	-	9,184			4,964
		207,318			164,097
Less: Accumulated depreciation and amortization		(141,059		)	(115,568		)
		$	66,259		$	48,529
Assets under capital leases:
Leasehold improvements		$	941		$	854
Office furniture and equipment		167			133
Motor vehicles		710			810
		1,818			1,797
Less: Accumulated depreciation		(1,320		)	(1,297		)
		$	498		$	500
Property and Equipment, net		$	66,757		$	49,029

Capital work in progress represents advances paid towards acquisition of property and equipment and cost of property and equipment and internally generated software costs not yet ready to be placed in service.

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,
	2017		2016		2015
Depreciation and amortization expense	$	24,574	$	22,707	$	21,239

Effective January 1, 2017, the depreciation and amortization expenses set forth above includes the effect of the foreign exchange gain/(loss) upon settlement of cash flow hedges, amounting to $435 for the year ended December 31, 2017 (see Note 15 to the consolidated financial statements for further details).

Internally developed software costs, included under Software, was as follows:



	As of
	December 31, 2017		December 31, 2016
Cost	$	2,571	$	2,242
Less : Accumulated amortization	976		336
	$	1,595	$	1,906

During the year ended December 31, 2017, there were no changes in estimated useful lives of property and equipment.