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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2015
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, 2015 (in thousands except per share amounts).
|  | First |  | Second |  | Third |  | Fourth |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |
Revenue |  | $ | 325,521 |  | $ | 310,223 |  | $ | 309,195 |  | $ | 341,816 |
Cost of services |  |  | 232,984 |  |  | 223,617 |  |  | 225,978 |  |  | 245,668 |
Selling, general and administrative |  |  | 50,237 |  |  | 47,376 |  |  | 48,418 |  |  | 48,575 |
Depreciation and amortization |  |  | 15,363 |  |  | 15,680 |  |  | 15,486 |  |  | 17,279 |
Restructuring charges, net |  |  | 809 |  |  | 198 |  |  | 622 |  |  | 185 |
Impairment losses |  |  | — |  |  | — |  |  | 3,066 |  |  | 5,034 |
Income from operations |  |  | 26,128 |  |  | 23,352 |  |  | 15,625 |  |  | 25,075 |
Other income (expense) |  |  | (1,688) |  |  | (18) |  |  | (1,995) |  |  | (590) |
Provision for income taxes |  |  | (4,405) |  |  | (7,841) |  |  | (1,192) |  |  | (6,566) |
Non-controlling interest |  |  | (1,263) |  |  | (797) |  |  | (1,243) |  |  | (916) |
Net income attributable to TeleTech stockholders |  | $ | 18,772 |  | $ | 14,696 |  | $ | 11,195 |  | $ | 17,003 |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 48,370 |  |  | 48,325 |  |  | 48,345 |  |  | 48,439 |
Diluted |  |  | 49,158 |  |  | 49,064 |  |  | 48,936 |  |  | 48,853 |
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.39 |  | $ | 0.30 |  | $ | 0.23 |  | $ | 0.35 |
Diluted |  | $ | 0.38 |  | $ | 0.30 |  | $ | 0.23 |  | $ | 0.35 |
Included in the fourth quarter is an additional $2.9 million expense related to the correction of an error in goodwill impairment annual assessment that should have been recorded in the fourth quarter of 2014 and the third quarter of 2015. See Note 1 for further information. Included in Other income (expense) in the second, the third and the fourth quarters are a $0.5 million benefit, a $0.8 million expense and a $0.3 million benefit related to fair value adjustments to the contingent consideration related to revised estimates of the performance against the targets for two of the Company’s acquisitions. Included in the Provision for Income Taxes is a $0.3 million benefit in the first quarter, a $0.1 million benefit in the second quarter, a $0.2 million benefit in the third quarter and a $0.1 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.3 million of benefit in the first quarter, $0.2 million of expense in the second quarter and $1.2 million of expense in the fourth quarter related to changes in valuation allowances. Additionally, in the second quarter there was $1.5 million of expense related to the recording of an uncertain tax position. Finally, there was a $0.5 million benefit in the first quarter related to tax rate changes, a $1.3 million benefit in the third quarter and a $1.3 million benefit in the fourth quarter related to impairments and $1.3 million of expense in the fourth quarter related to various state NOL’s. Included in the second quarter is a $1.75 million additional estimated tax liability that should have been recorded in prior periods related to ongoing discussions with relevant government authorities related to site compliance with tax advantaged status. See Note 1 for further information. The following tables present certain quarterly financial data for the year ended December 31, 2014 (in thousands except per share amounts).
|  | First |  | Second |  | Third |  | Fourth |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |
Revenue |  | $ | 302,221 |  | $ | 295,490 |  | $ | 305,900 |  | $ | 338,170 |
Cost of services |  |  | 213,787 |  |  | 212,315 |  |  | 220,244 |  |  | 240,146 |
Selling, general and administrative |  |  | 50,367 |  |  | 47,802 |  |  | 49,847 |  |  | 50,537 |
Depreciation and amortization |  |  | 13,170 |  |  | 14,089 |  |  | 13,893 |  |  | 15,386 |
Restructuring charges, net |  |  | 540 |  |  | 617 |  |  | 593 |  |  | 1,600 |
Impairment losses |  |  | — |  |  | — |  |  | — |  |  | 373 |
Income from operations |  |  | 24,357 |  |  | 20,667 |  |  | 21,323 |  |  | 30,128 |
Other income (expense) |  |  | (178) |  |  | 2,880 |  |  | (856) |  |  | 2,138 |
(Provision for) benefit from income taxes |  |  | (2,876) |  |  | (5,417) |  |  | (5,778) |  |  | (8,971) |
Non-controlling interest |  |  | (1,085) |  |  | (1,268) |  |  | (1,442) |  |  | (1,329) |
Net income attributable to TeleTech stockholders |  | $ | 20,218 |  | $ | 16,862 |  | $ | 13,247 |  | $ | 21,966 |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 50,045 |  |  | 49,351 |  |  | 49,093 |  |  | 48,714 |
Diluted |  |  | 50,973 |  |  | 50,111 |  |  | 49,940 |  |  | 49,514 |
Net income per share attributable to TeleTech stockholders |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.40 |  | $ | 0.34 |  | $ | 0.27 |  | $ | 0.45 |
Diluted |  | $ | 0.40 |  | $ | 0.34 |  | $ | 0.27 |  | $ | 0.44 |
Included in Other income (expense) in the second and the fourth quarters are a $4.0 million benefit and a net $2.7 million benefit related to fair value adjustments to the contingent consideration related to revised estimates of the performance against the targets for four of the Company’s acquisitions. Included in the Provision for Income Taxes is a $0.2 million benefit in the first quarter, a $0.2 million benefit in the second quarter, a $0.2 million benefit in the third quarter and a $0.6 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.6 million of benefit in the first quarter and $0.2 million of expense in the third quarter related to changes in valuation allowances. Additionally, in the second quarter there was $1.6 million of expense, $0.7 million of expense in the third quarter and $1.6 million of expense in the fourth quarter related to changes in the value of future contingent payments. Finally, there was $1.2 million of benefit in the first quarter related to the closing of a statute of limitations and $1.3 million of expense in the third quarter related to the Netherlands audit.

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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=51655806&loc=d3e765-108305 Reference 2: 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=51825399&loc=d3e1280-108306 Reference 3: 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=51655806&loc=d3e725-108305 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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