SEC Filings

6-K
WNS (HOLDINGS) LTD filed this Form 6-K on 01/31/2019
Entire Document
 


Table of Contents

WNS (HOLDINGS) LIMITED

NOTES TO UNAUDITED CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

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

 

The following table presents the notional values of outstanding foreign exchange forward contracts, foreign exchange option contracts and interest rate swap contracts:

 

     As at  
     December 31,
2018
     March 31,
2018
 

Forward contracts (Sell)

     

In US dollars

   $ 221,944      $ 242,418  

In United Kingdom pound sterling

     152,731        132,591  

In Euro

     31,254        23,883  

In Australian dollars

     44,152        48,147  

Others

     2,272        2,332  
  

 

 

    

 

 

 
   $ 452,353      $ 449,371  
  

 

 

    

 

 

 
     

Option contracts (Sell)

     

In US dollars

   $ 135,771      $ 107,629  

In United Kingdom pound sterling

     110,071        116,401  

In Euro

     33,039        21,483  

In Australian dollars

     42,078        28,828  

Others

     112        927  
  

 

 

    

 

 

 
   $ 321,071      $ 275,268  
  

 

 

    

 

 

 

Interest rate swap contracts

     

In US dollars

   $ 75,850      $ 89,900  

The amount of gain/ (loss) reclassified from other comprehensive income into consolidated statement of income in respective line items for the three and nine months ended December 31, 2018 and 2017 are as follows:

 

     Three months ended December 31,      Nine months ended December 31,  
     2018      2017      2018      2017  

Revenue

   $ 113      $ 2,405      $ (578    $ 9,313  

Foreign exchange gain/(loss), net

     —          3,969        (2      13,581  

Finance expense, net

     107        (130      276        (512

Income tax related to amounts reclassified into consolidated statement of income

     (28      (2,347      (374      (8,339
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 192      $ 3,897      $ (678    $ 14,043  
  

 

 

    

 

 

    

 

 

    

 

 

 
           

As at December 31, 2018, a gain amounting to $5,182 on account of cash flow hedges in relation to forward and option contracts entered is expected to be reclassified from other comprehensive income into consolidated statement of income over a period of 24 months and a gain amounting to $706 on account of cash flow hedges in relation to interest rate swaps is expected to be reclassified from other comprehensive income into consolidated statement of income over a period of 39 months.

Due to the discontinuation of cash flow hedge accounting on account of non-occurrence of original forecasted transactions by the end of the originally specified time period, the Company recognized in its consolidated statement of income for the three months ended December 31, 2018 and 2017 a gain of Nil each, and for the nine months ended December 31, 2018 and 2017 a loss of $2 and $20, respectively.

 

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