Property and Equipment, net (Tables)

9 Months Ended

Sep. 30, 2022

Property, Plant and Equipment [Abstract]

Schedule of Property and Equipment

Property and equipment, net consists of the following:

	Estimated useful lives	As of
	(Years)	September 30, 2022		December 31, 2021
Owned Assets:
Network equipment and computers	3-5	$	125,523	$	116,023
Software	2-5	106,738		101,884
Leasehold improvements	3-8	43,326		46,401
Office furniture and equipment	3-8	20,669		22,302
Motor vehicles	2-5	573		693
Buildings	30	978		1,070
Land	—	640		700
Capital work in progress	—	10,876		10,288
		309,323		299,361
Less: Accumulated depreciation and amortization		(229,813)		(213,699)
		$	79,510	$	85,662
Right-of-use assets under finance leases*:
Network equipment and computers		$	84	$	91
Leasehold improvements		1,030		1,229
Office furniture and equipment		666		787
Motor vehicles		636		578
		2,416		2,685
Less: Accumulated depreciation and amortization		(1,993)		(2,339)
		423		346
Property and equipment, net		$	79,933	$	86,008

*Depreciation on assets held under finance leases are computed using the straight-line method over the shorter of the assets estimated useful lives or the lease term.

The depreciation and amortization expense, excluding amortization of acquisition-related intangibles, recognized in the unaudited consolidated statements of income was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Depreciation and amortization expense	$	10,137	$	9,283	$	29,182	$	26,936

The effect of foreign exchange gain/(loss) upon settlement of cash flow hedges recorded under depreciation and amortization, was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Effect of foreign exchange gain/(loss)	$	(126)	$	120	$	(64)	$	443

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

	As of
	September 30, 2022		December 31, 2021
Cost	$	29,015	$	19,289
Less : Accumulated amortization	(14,599)		(10,226)
Internally developed software, net	$	14,416	$	9,063

The amortization expense on internally developed software recognized in the unaudited consolidated statements of income was as follows:

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Amortization expense	$	1,832	$	1,086	$	4,414	$	3,165