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FAIR VALUE (Tables)
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12 Months Ended |
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Dec. 31, 2013
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| FAIR VALUE |
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| Schedule of details of the outstanding foreign currency forward contracts |
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As of December 31, |
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2012 |
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2013 |
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Settlement currency in: |
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U.S. dollar of entity with functional currency in RMB |
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Notional contract amount (U.S. dollar) |
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$1,800 |
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$ |
1,800 |
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| Schedule of fair value measurement of the contingent consideration |
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Unobservable Inputs |
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Range |
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Estimated contingent consideration payments |
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$32 – $4,045 |
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Discount rate |
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1.55% – 11.70% |
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Timing of cash flows |
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0.17 – 2.17 years |
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| Summary of the movement of the Group's contingent consideration measured at fair value on recurring basis |
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Contingent consideration as of January 1, 2012 |
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$ |
18,552 |
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Assumed from the merger with VanceInfo |
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|
16,775 |
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Increase in contingent consideration as a result of business acquisitions |
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20,355 |
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Less: Payments made during 2012 |
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(3,047 |
) |
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Shares issuable in connection with business acquisition |
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(918 |
) |
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Add: Changes in fair values |
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(659 |
) |
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Foreign currency translation adjustments |
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|
361 |
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Contingent consideration as of January 1, 2013 |
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$ |
51,419 |
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Increase in contingent consideration as a result of business acquisitions |
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3,294 |
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Less: Cash payments made during 2013 |
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(22,661 |
) |
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Settlement by issuance of common shares |
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(3,203 |
) |
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Add: Changes in fair values |
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(1,164 |
) |
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Foreign currency translation adjustments |
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(190 |
) |
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Contingent consideration as of December 31, 2013 |
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$ |
27,495 |
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Including |
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Current portion of contingent consideration |
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$ |
23,456 |
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Non-current portion of contingent consideration |
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$ |
4,039 |
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| Schedule of assets and liabilities measured at fair value on a recurring basis |
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Fair Value Measurement at Reporting Date Using |
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Description |
|
December, 31
2012 |
|
Quoted Prices
in Active
Market for
Identical
Liabilities |
|
Other
Observable
Inputs |
|
Significant
Unobservable
Inputs |
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(Level 1)
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(Level 2)
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(Level 3)
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Contingent consideration |
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$ |
(51,419 |
) |
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— |
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$ |
— |
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$ |
(51,419 |
) |
|
Foreign currency forward contracts |
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8 |
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— |
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8 |
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— |
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Total |
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$ |
(51,411 |
) |
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— |
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$ |
8 |
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$ |
(51,419 |
) |
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Fair Value Measurement at Reporting Date Using |
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|
Description |
|
December, 31
2013 |
|
Quoted Prices
in Active
Market for
Identical
Liabilities |
|
Other
Observable
Inputs |
|
Significant
Unobservable
Inputs |
|
|
|
|
|
(Level 1)
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|
(Level 2)
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|
(Level 3)
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|
Contingent consideration |
|
$ |
(27,495 |
) |
|
— |
|
$ |
— |
|
$ |
(27,495 |
) |
|
Foreign currency forward contracts |
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14 |
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— |
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14 |
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— |
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Total |
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$ |
(27,481 |
) |
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— |
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$ |
14 |
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$ |
(27,495 |
) |
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- (b)
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| Schedule of fair value measurements of the intangible assets |
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Unobservable Inputs |
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Range |
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Estimated net revenues |
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$1,400 – $30,316 |
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Royalty savings |
|
2% – 4% |
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Discount rate |
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16% |
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Timing of cash flows |
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1 – 2 years |
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