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MANDATORILY REDEEMABLE NONCONTROLLING INTEREST (TABLES) | 6 Months Ended
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Jun. 30, 2014
Mandatorily Redeemable Noncontrolling Interest [Abstract] |
Mandatorily Redeemable Noncontrolling Interest Rollforward | (12) MANDATORILY REDEEMABLE NONCONTROLLING INTEREST The Company holds an 80% interest in iKnowtion. In the event iKnowtion meets certain EBITDA targets for calendar year 2015, the purchase and sale agreement requires TeleTech to purchase the remaining 20% interest in iKnowtion in 2016 for an amount equal to a multiple of iKnowtion's 2015 EBITDA as defined in the purchase and sale agreement. These terms represent a contingent redemption feature which the Company determined is probable of being achieved. The Company has recorded the mandatorily redeemable noncontrolling interest at the redemption value based on the corresponding EBITDA multiples as prescribed in the purchase and sale agreement at the end of each reporting period. At the end of each reporting period the changes in the redemption value are recorded in retained earnings. Since the EBITDA multiples as defined in the purchase and sale agreement are below the current market multiple, the Company has determined that there is no preferential treatment to the noncontrolling interest shareholders resulting in no impact to earnings per share. A rollforward of the mandatorily redeemable noncontrolling interest is included in the table below (in thousands).
|  | Six Months Ended June 30,
|  | 2014 |  | 2013
Mandatorily redeemable noncontrolling interest, January 1 | $ | 2,509 |  | $ | 1,067
Net income attributable to mandatorily redeemable |  |  |  |  |
| noncontrolling interest |  | 279 |  |  | 159
Working capital distributed to mandatorily redeemable |  |  |  |  |
| noncontrolling interest |  | (1,244) |  |  | (272)
Change in redemption value |  | 1,730 |  |  | 1,065
| Mandatorily redeemable noncontrolling interest, June 30 | $ | 3,274 |  | $ | 2,019
|  | Six Months Ended June 30,
|  | 2014 |  | 2013
Mandatorily redeemable noncontrolling interest, January 1 | $ | 2,509 |  | $ | 1,067
Net income attributable to mandatorily redeemable |  |  |  |  |
| noncontrolling interest |  | 279 |  |  | 159
Working capital distributed to mandatorily redeemable |  |  |  |  |
| noncontrolling interest |  | (1,244) |  |  | (272)
Change in redemption value |  | 1,730 |  |  | 1,065
| Mandatorily redeemable noncontrolling interest, June 30 | $ | 3,274 |  | $ | 2,019

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- Definition Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity. + References No definition available. + Details
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