v3.26.1
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2026
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
The Company maintains a Gratuity Plan in India (the “India Plan”) and a retirement benefit plan in the Philippines (the “Philippines Plan”). The India Plan is partially funded whereas the Philippines Plan is unfunded. The Company expects to earn a return of approximately 7.5% per annum on the India Plan for the year ending on December 31, 2026.

Change in Plan Assets
Plan assets as of December 31, 2025$24,358 
Actual return1,030 
Employer contribution2,852 
Benefits paid(1,329)
Currency translation adjustments(1,230)
Plan assets as of June 30, 2026
$25,681 

During the year ended December 31, 2025, the implementation of the new Labor Codes in India resulted in the recognition of prior service cost in OCI. During March 2026, following the implementation of a revised salary structure, the Company performed an updated actuarial valuation and recognized additional prior service cost of $1,177 in OCI. The prior service cost recognized is being amortized over the estimated remaining service period of the defined benefit obligation.
Components of net periodic benefit costs recognized in unaudited consolidated statements of income and retirement benefits reclassified from AOCI, were as follows:
 Three months ended June 30,Six months ended June 30,
 2026202520262025
Service cost$1,987 $1,406 $4,010 $2,789 
Interest cost712 517 1,441 1,026 
Expected return on plan assets(404)(351)(817)(696)
Reclassification of retirement benefits from AOCI:
Amortization of actuarial gain(161)(117)(344)(228)
Amortization of prior service cost566 — 1,087 — 
Net periodic benefit cost$2,700 $1,455 $5,377 $2,891 
Reclassification of retirement benefits from AOCI, gross of tax$405 $(117)$743 $(228)
Income tax effects(150)(13)(281)(26)
Reclassification of retirement benefits from AOCI, net of tax$255 $(130)$462 $(254)
The Company maintains several 401(k) plans (the “401(k) Plans”) under Section 401(k) of the Internal Revenue Code of 1986, as amended (the “Code”), covering all eligible employees, as defined in the Code as a defined contribution plan. The Company may make discretionary contributions of up to a maximum of 3.0% of employee compensation within certain limits.

The Company’s contributions to various defined contribution plans were as follows:
Three months ended June 30,Six months ended June 30,
2026202520262025
Contribution to the 401(k) Plans$1,504 $1,376 $4,522 $4,171 
Contributions to the defined contribution plans in foreign subsidiaries of the Company
$9,153 $8,692 $18,060 $16,477