SEC Filings

20-F
WNS (HOLDINGS) LTD filed this Form 20-F on 05/16/2018
Entire Document
 


Table of Contents

WNS (HOLDINGS) LIMITED

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in thousands, except share and per share data)

 

Defined benefit plan

The net periodic cost recognized by the Company in respect of gratuity payments under the Company’s gratuity plans covering eligible employees of the Company in India, the Philippines and Sri Lanka is as follows:

 

     Year ended March 31,  
     2018      2017      2016  

Service cost

   $ 1,917      $ 2,188      $ 1,765  

Past service cost

     538        —          —    

Interest on the net defined benefit liability

     587        451        419  
  

 

 

    

 

 

    

 

 

 

Net gratuity cost

   $ 3,042      $ 2,639      $ 2,184  
  

 

 

    

 

 

    

 

 

 

 

     As at  
     March
2018
     March
2017
 

Change in projected benefit obligations

     

Obligation at beginning of the year

   $ 11,776      $ 8,450  

Foreign currency translation

     (118      (30

Service cost

     1,917        2,188  

Past service cost

     538        —    

Interest cost

     657        513  

Business combinations

     —          95  

Benefits paid

     (1,160      (1,283

Actuarial (gain)/loss

     

From changes in demographic assumptions

     62        463  

From changes in financial assumptions

     (3,428      (126

From actual experience compared to assumptions

     857        1,506  
  

 

 

    

 

 

 

Benefit obligation at end of the year

   $ 11,101      $ 11,776  
  

 

 

    

 

 

 

Change in plan assets

     

Plan assets at beginning of the year

   $ 976      $ 849  

Foreign currency translation

     (5      22  

Expected return on plan assets

     70        62  

Actuarial (loss) /gain

     (23      39  

Actual contributions

     1,104        1,148  

Benefits paid

     (1,081      (1,144
  

 

 

    

 

 

 

Plan assets at end of the year

   $ 1,041      $ 976  
  

 

 

    

 

 

 

Accrued pension liability

     

Current

   $ 1,189      $ 770  

Non-current

     8,871        10,030  
  

 

 

    

 

 

 

Net amount recognized

   $ 10,060      $ 10,800  
  

 

 

    

 

 

 

Present value of funded defined benefit obligation

   $ 10,418      $ 8,766  

Fair value of plan assets

     (1,041      (976
  

 

 

    

 

 

 
     9,377        7,790  
  

 

 

    

 

 

 

Present value of unfunded defined benefit obligation

   $ 683      $ 3,010  
  

 

 

    

 

 

 

Weighted average duration of defined benefit obligation (both funded and unfunded)

     4.8 years        8.3 years  

Net amount recognized relating to the Company’s India plan, Philippines plan and Sri Lanka plan was $9,402, $36 and $622 as at March 31, 2018 and $7,973, $2,341 and $486 as at March 31, 2017, respectively.

 

F-53