Derivatives and Hedge Accounting (Tables)

12 Months Ended

Dec. 31, 2024

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location

The following table sets forth the aggregate notional amount of derivatives in cash flow hedging relationship:

	As of
	December 31, 2024	December 31, 2023
Foreign currency forward contracts denominated in:
Sell U.S. dollar (USD)	984,300	722,800
Interest rate swaps (Floating to fixed) denominated in:
USD	—	75,000

Summary of Fair Value of Foreign Currency Exchange Contracts

The following table sets forth the aggregate notional principal amounts of outstanding foreign currency forward contracts for derivatives not designated as hedging instruments:

	As of
Foreign currency forward contracts denominated in:	December 31, 2024	December 31, 2023
Sell USD	179,491	170,543
Sell GBP	20,956	14,544
Sell EUR	9,008	5,231
Sell AUD	4,770	3,452
Sell ZAR	10,006	150,150
Buy USD	588	—

The following table sets forth the fair value of the foreign currency forward contracts and interest rate swaps and their location on the consolidated balance sheets:

	Derivatives in cash flow hedging relationships				Derivatives not designated as hedging instruments
	As of				As of
	December 31, 2024		December 31, 2023		December 31, 2024		December 31, 2023
Assets:
Other current assets	$	1,711	$	4,216	$	262	$	92
Other assets	$	852	$	3,299	$	—	$	—
Liabilities:
Accrued expenses and other current liabilities	$	7,404	$	1,859	$	50	$	150
Other non-current liabilities	$	4,363	$	216	$	—	$	—

Summary of Effect of Foreign Currency Exchange Contracts on Consolidated Statements of Income/(Loss)

The following table sets forth the effect of foreign currency forward contracts and interest rate swaps on AOCI and the consolidated statements of income:

	Year ended December 31,
Derivative financial instruments:	2024		2023		2022
Unrealized gain/(loss) recognized in OCI
Derivatives in cash flow hedging relationships	$	(14,513)	$	14,403	$	(27,333)
Gain/(loss) recognized in consolidated statements of income
Derivatives not designated as hedging instruments	$	(3,110)	$	296	$	(9,571)

The following table sets forth the location and amount of gain/(loss) recognized in consolidated statements of income for derivatives in cash flow hedging relationships and derivatives not designated as hedging instruments:

	Year ended December 31,
	2024				2023				2022
	As per consolidated statements of income		Gain/(loss) on derivative financial instruments		As per consolidated statements of income		Gain/(loss) on derivative financial instruments		As per consolidated statements of income		Gain/(loss) on derivative financial instruments
Derivatives in cash flow hedging relationships
Location in consolidated statements of income where gain/(loss) was reclassified from AOCI
Cost of revenues	$	1,147,359	$	(722)	$	1,022,902	$	(5,180)	$	896,595	$	(1,304)
General and administrative expenses	$	225,672	110		$	198,294	(454)		$	169,016	141
Selling and marketing expenses	$	146,502	18		$	120,227	(40)		$	97,989	10
Depreciation and amortization expense	$	55,219	2		$	50,490	(236)		$	56,282	(32)
Interest expense	$	19,256	723		$	13,180	702		$	8,252	(110)
Total before tax			131				(5,208)				(1,295)
Income tax effects on above			(339)				797				(455)
Net of tax			$	(208)			$	(4,411)			$	(1,750)
Derivatives not designated as hedging instruments
Location in consolidated statements of income where gain/(loss) was recognized
Foreign exchange gain/(loss), net	$	891	$	(3,110)	$	1,532	$	296	$	6,199	$	(9,571)