Deferred taxes for the year ended March 31, 2017 arising from temporary differences and unused tax losses can be summarized below:
| Opening balance |
Additions due to acquisition during the year |
Recognized in statement of income |
Recognized in equity |
Recognized in/ Reclassified from other comprehensive income |
Foreign currency translation |
Closing balance |
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Deferred tax assets: |
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Property and equipment |
$ | 5,512 | $ | (873 | ) | $ | 932 | $ | — | $ | — | $ | 77 | $ | 5,648 | |||||||||||||
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Net operating loss carry forward |
3,684 | — | 2,026 | — | — | 12 | 5,722 | |||||||||||||||||||||
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Accruals deductible on actual payment |
5,352 | 70 | (1 | ) | — | — | 220 | 5,641 | ||||||||||||||||||||
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Share-based compensation expense |
11,008 | — | 1,781 | (715 | ) | — | 190 | 12,264 | ||||||||||||||||||||
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Minimum alternate tax |
68 | — | 96 | — | — | 3 | 167 | |||||||||||||||||||||
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Others |
362 | — | 679 | — | — | (66 | ) | 975 | ||||||||||||||||||||
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Total deferred tax assets |
$ | 25,986 | $ | (803 | ) | $ | 5,513 | $ | (715 | ) | $ | — | $ | 436 | $ | 30,417 | ||||||||||||
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Deferred tax liabilities: |
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Intangibles |
(712 | ) | 24,577 | (2,769 | ) | — | — | 27 | 21,123 | |||||||||||||||||||
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Unrealized gain/(loss) on cash flow hedging and investments |
4,857 | — | 27 | — | 6,921 | 489 | 12,294 | |||||||||||||||||||||
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Others |
1,108 | — | — | — | — | 5 | 1,113 | |||||||||||||||||||||
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Total deferred tax liabilities |
$ | 5,253 | $ | 24,577 | $ | (2,742 | ) | $ | — | $ | 6,921 | $ | 521 | $ | 34,530 | |||||||||||||
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Net deferred tax assets/(liabilities) |
$ | 20,733 | $ | (25,380 | ) | $ | 8,255 | $ | (715 | ) | $ | (6,921 | ) | $ | (85 | ) | $ | (4,113 | ) | |||||||||
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Deferred taxes for the year ended March 31, 2016 arising from temporary differences and unused tax losses can be summarized below:
| Opening balance |
Additions due to acquisition during the year |
Recognized in statement of income |
Recognized in equity |
Recognized in/ Reclassified from other comprehensive income |
Foreign currency translation |
Closing balance |
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Deferred tax assets: |
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Property and equipment |
$ | 6,538 | $ | — | $ | (724 | ) | $ | — | $ | — | $ | (302 | ) | $ | 5,512 | ||||||||||||
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Net operating loss carry forward |
4,304 | — | (448 | ) | — | — | (172 | ) | 3,684 | |||||||||||||||||||
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Accruals deductible on actual payment |
4,201 | — | 1,443 | — | — | (292 | ) | 5,352 | ||||||||||||||||||||
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Share-based compensation expense |
6,110 | — | 4,480 | 688 | — | (270 | ) | 11,008 | ||||||||||||||||||||
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Minimum alternate tax |
8,327 | — | (7,941 | ) | — | — | (318 | ) | 68 | |||||||||||||||||||
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Others |
1,444 | — | (1,179 | ) | — | — | 97 | 362 | ||||||||||||||||||||
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Total deferred tax assets |
$ | 30,924 | $ | — | $ | (4,369 | ) | $ | 688 | $ | — | $ | (1,257 | ) | $ | 25,986 | ||||||||||||
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Deferred tax liabilities: |
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Intangibles |
2,045 | 837 | (3,477 | ) | — | — | (118 | ) | (712 | ) | ||||||||||||||||||
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Unrealized gain/(loss) on cash flow hedging and investments |
9,821 | — | (436 | ) | — | (4,259 | ) | (269 | ) | 4,857 | ||||||||||||||||||
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Others |
— | — | 1,108 | — | — | — | 1,108 | |||||||||||||||||||||
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Total deferred tax liabilities |
$ | 11,866 | $ | 837 | $ | (2,804 | ) | $ | — | $ | (4,259 | ) | $ | (387 | ) | $ | 5,253 | |||||||||||
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Net deferred tax assets/(liabilities) |
$ | 19,058 | $ | (837 | ) | $ | (1,565 | ) | $ | 688 | $ | 4,259 | $ | (870 | ) | $ | 20,733 | |||||||||||
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