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QUARTERLY FINANCIAL DATA (UNAUDITED)
 12 Months Ended
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.