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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2013
QUARTERLY FINANCIAL DATA (UNAUDITED) [ABSTRACT] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | (26) QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present certain quarterly financial data for the year ended December 31, 2013 (amounts in thousands except per share amounts).
|  |  |  | First Quarter |  | Second Quarter |  | Third Quarter |  | Fourth Quarter
Revenue | $ | 288,383 |  | $ | 289,692 |  | $ | 296,995 |  | $ | 318,087
Cost of services |  | 208,232 |  |  | 208,809 |  |  | 208,648 |  |  | 220,942
Selling, general and administrative |  | 45,747 |  |  | 46,168 |  |  | 50,165 |  |  | 51,343
Depreciation and amortization |  | 10,555 |  |  | 11,263 |  |  | 11,463 |  |  | 12,783
Restructuring charges, net |  | 851 |  |  | 2,572 |  |  | 758 |  |  | 254
Impairment losses |  | - |  |  | 1,205 |  |  | - |  |  | -
| Income from operations |  | 22,998 |  |  | 19,675 |  |  | 25,961 |  |  | 32,765
|  | Other income (expense) |  | (2,004) |  |  | (3,099) |  |  | (434) |  |  | (3,793)
|  | (Provision for) benefit from income taxes |  | (2,391) |  |  | (3,854) |  |  | (6,358) |  |  | (7,995)
|  | Non-controlling interest |  | (642) |  |  | (407) |  |  | (1,526) |  |  | (1,508)
|  |  | Net income attributable to TeleTech stockholders | $ | 17,961 |  | $ | 12,315 |  | $ | 17,643 |  | $ | 19,469
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |
| Basic |  | 52,347 |  |  | 51,861 |  |  | 50,732 |  |  | 50,439
| Diluted |  | 53,217 |  |  | 52,628 |  |  | 51,678 |  |  | 51,465
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |
| Basic | $ | 0.34 |  | $ | 0.24 |  | $ | 0.35 |  | $ | 0.39
| Diluted | $ | 0.34 |  | $ | 0.23 |  | $ | 0.34 |  | $ | 0.38
Included in Other income (expense) in the second quarter is a $3.7 million charge related to the deconsolidation of our subsidiary in Kuwait, and in the fourth quarter is a $1.9 million charge related to a fair value adjustment to the contingent consideration for three of our acquisitions. Included in the (Provision) benefit for Income Taxes is a $0.2 million benefit in the first quarter, a $1.2 million benefit in the second quarter, a $0.3 million benefit in the third quarter and a $0.1 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.9 million of benefit in the first quarter, $0.3 million of expense in the second quarter, $0.4 million of expense in the third quarter and a $2.0 million of expense in the fourth quarter related to changes in valuation allowances. Additionally, there was a $0.6 million benefit in the first quarter, $0.5 million of benefit in the second quarter, $0.3 million of expense in the third quarter, and a $0.7 million of benefit in the fourth quarter related to return to provision adjustments. 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 for) benefit from 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.

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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 45 -Paragraph 13 -URI http://asc.fasb.org/extlink&oid=6372559&loc=d3e765-108305 Reference 2: 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 3: 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=25249566&loc=d3e1280-108306 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 6 -Section G -Subsection 1 Reference 5: 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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