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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2012
QUARTERLY FINANCIAL DATA (UNAUDITED) [ABSTRACT] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | (24) QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present certain quarterly financial data for the year ended December 31, 2012 (amounts in thousands except per share amounts).
|  |  |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 292,654 |  | $ | 288,798 |  | $ | 286,268 |  | $ | 295,261
Cost of services |  | 211,895 |  |  | 209,121 |  |  | 201,766 |  |  | 212,021
Selling, general and administrative |  | 48,135 |  |  | 45,709 |  |  | 43,845 |  |  | 44,945
Depreciation and amortization |  | 10,116 |  |  | 10,229 |  |  | 10,695 |  |  | 10,126
Restructuring charges, net |  | 1,958 |  |  | 16,296 |  |  | 2,440 |  |  | 2,181
Impairment losses |  | 1,800 |  |  | 997 |  |  | 161 |  |  | -
| Income from operations |  | 18,750 |  |  | 6,446 |  |  | 27,361 |  |  | 25,988
|  | Other income (expense) |  | (80) |  |  | (1,470) |  |  | (1,252) |  |  | (1,881)
|  | (Provision) benefit for income taxes |  | (1,853) |  |  | 1,272 |  |  | 3,611 |  |  | (2,969)
|  | Non-controlling interest |  | (936) |  |  | (925) |  |  | (1,291) |  |  | (756)
|  |  | Net income attributable to TeleTech stockholders | $ | 15,881 |  | $ | 5,323 |  | $ | 28,429 |  | $ | 20,382
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |
| Basic |  | 56,493 |  |  | 55,125 |  |  | 54,093 |  |  | 53,262
| Diluted |  | 57,418 |  |  | 55,712 |  |  | 54,905 |  |  | 54,196
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |
| Basic | $ | 0.28 |  | $ | 0.10 |  | $ | 0.53 |  | $ | 0.38
| Diluted | $ | 0.28 |  | $ | 0.10 |  | $ | 0.52 |  | $ | 0.38
Included in Cost of services expense in the second quarter is a $4.6 million reduction related to a change in estimate for employee related expenses in connection with an authoritative ruling in Spain. Included in the (Provision) benefit for Income Taxes in the third quarter is a $7.6 million benefit related to Australia and New Zealand Transfer Pricing Arrangements and a $1.4 million benefit from the release of uncertain tax positions. Also in the fourth quarter a $1.9 million benefit related to return to provision adjustments, and $0.1 million of expense related to other discrete items. Also included are benefits related to restructuring charges in the first quarter of $1.3 million, $6.5 million in the second quarter, $0.8 million in the third quarter, and $0.6 million in the fourth quarter. The following tables present certain quarterly financial data for the year ended December 31, 2011 (amounts in thousands except per share amounts).
|  |  |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 280,979 |  | $ | 293,636 |  | $ | 304,235 |  | $ | 300,538
Cost of services |  | 199,121 |  |  | 210,358 |  |  | 220,795 |  |  | 218,088
Selling, general and administrative |  | 47,801 |  |  | 47,283 |  |  | 43,445 |  |  | 50,273
Depreciation and amortization |  | 11,598 |  |  | 11,423 |  |  | 11,807 |  |  | 10,061
Restructuring charges, net |  | 739 |  |  | (57) |  |  | 1,616 |  |  | 1,353
Impairment losses |  | 230 |  |  | - |  |  | - |  |  | -
| Income from operations |  | 21,490 |  |  | 24,629 |  |  | 26,572 |  |  | 20,763
|  | Other income (expense) |  | (270) |  |  | (1,276) |  |  | (633) |  |  | 279
|  | (Provision) benefit for income taxes |  | (9,849) |  |  | (129) |  |  | 496 |  |  | (3,797)
|  | Non-controlling interest |  | (898) |  |  | (1,007) |  |  | (1,064) |  |  | (1,132)
|  |  | Net income attributable to TeleTech stockholders | $ | 10,473 |  | $ | 22,217 |  | $ | 25,371 |  | $ | 16,113
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |
| Basic |  | 57,190 |  |  | 56,713 |  |  | 56,476 |  |  | 56,309
| Diluted |  | 58,797 |  |  | 57,974 |  |  | 57,748 |  |  | 57,500
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |
| Basic | $ | 0.18 |  | $ | 0.39 |  | $ | 0.45 |  | $ | 0.29
| Diluted | $ | 0.18 |  | $ | 0.38 |  | $ | 0.44 |  | $ | 0.28
Included in Cost of services and selling, general and administrative expenses in the third quarter is a $2.8 million reduction for variable incentive compensation. Included in the Provision for Income Taxes for the first and fourth quarter is an increase of $9.0 million and a decrease of $0.4 million respectively related to the adverse decision by the Canadian Revenue Agency in regards to the Company's attempt to recover taxes paid to Canada with respect to the years 2001 and 2002. Also included in the Provision for income taxes in the first, second and third quarter is a reduction in expense related to the mediated settlement reached with the IRS concerning tax refund claims of $2.9 million, $5.7 million and $3.0 million respectively. Also included in the third quarter is a $1.4 million benefit related to the Company's 2010 foreign earnings repatriation.

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- Definition The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a)-(j) -URI http://asc.fasb.org/extlink&oid=20225539&loc=d3e1280-108306 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 30 -Subparagraph a-j -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -SubTopic 10 -Section 45 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e725-108305 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher AICPA -Name Accounting Principles Board Opinion (APB) -Number 28 -Paragraph 23, 24 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 302 -Paragraph a + Details
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