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QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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Dec. 31, 2017
QUARTERLY FINANCIAL DATA (UNAUDITED) [ABSTRACT] |
QUARTERLY FINANCIAL DATA (UNAUDITED) | (23)QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present certain quarterly financial data for the year ended December 31, 2017 (in thousands except per share amounts).
|  | First |  | Second |  | Third |  | Fourth |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |
Revenue |  | $ | 338,277 |  | $ | 353,429 |  | $ | 359,036 |  | $ | 426,623 |
Cost of services |  |  | 253,898 |  |  | 268,004 |  |  | 275,548 |  |  | 312,618 |
Selling, general and administrative |  |  | 43,220 |  |  | 43,985 |  |  | 45,167 |  |  | 49,942 |
Depreciation and amortization |  |  | 14,500 |  |  | 16,258 |  |  | 16,515 |  |  | 17,234 |
Restructuring and integration charges, net |  |  | 169 |  |  | 3,593 |  |  | 6,006 |  |  | 4,897 |
Impairment losses |  |  | — |  |  | — |  |  | — |  |  | 5,322 |
Income from operations |  |  | 26,490 |  |  | 21,589 |  |  | 15,800 |  |  | 36,610 |
Other income (expense) |  |  | (932) |  |  | (4,198) |  |  | 1,846 |  |  | (8,318) |
(Provision for) benefit from income taxes |  |  | (5,391) |  |  | (1,597) |  |  | (2,071) |  |  | (69,016) |
Non-controlling interest |  |  | (922) |  |  | (1,100) |  |  | (806) |  |  | (728) |
Net income (loss) attributable to TTEC stockholders |  | $ | 19,245 |  | $ | 14,694 |  | $ | 14,769 |  | $ | (41,452) |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 45,950 |  |  | 45,662 |  |  | 45,838 |  |  | 45,856 |
Diluted |  |  | 46,315 |  |  | 46,150 |  |  | 46,367 |  |  | 46,461 |
Net income per share attributable to TTEC stockholders |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.42 |  | $ | 0.32 |  | $ | 0.32 |  | $ | (0.90) |
Diluted |  | $ | 0.42 |  | $ | 0.32 |  | $ | 0.32 |  | $ | (0.89) |
Included in Other income (expense) in the second quarter is a $3.2 million expense related to additional estimated loss on one of the units being reported as Assets Held for Sale. In the fourth quarter, we sold this unit and a net $0.6 million gain was recorded. Included in Other income (expense) in the third quarter, was a $3.2 million gain related to dissolution of a foreign entity and a release of its cumulative translation adjustment. Included in Other income (expense) in the fourth quarter is a $5.25 million expense related to finalization of the transition services agreement for the Connextions acquisition, and a $1.2 million interest charge related to the future purchase for the remaining 30% of the Motif acquisition. Included in the Provision for Income Taxes is $62.4 million of expense in the fourth quarter related to the US 2017 Tax Act, $0.4 million of expense in the fourth quarter, $1.3 million of expense in the third quarter and $1.3 million of benefit in the second quarter related to the disposition of assets, $1.9 million of benefit in the fourth quarter related to impairments, a $1.9 million benefit in the fourth quarter, a $2.4 million benefit in the third quarter and a $1.5 million benefit in the second quarter related to restructuring charges. Also included is $0.6 million of expense in the fourth quarter related to changes in valuation allowances. Additionally, $0.3 million of benefit was recorded in the fourth quarter, $0.2 million of expense was recorded in the third quarter, $0.7 million of benefit recorded in the second quarter, and $0.3 million of expense was recorded in the first quarter related to return to provision adjustments. Also included in the fourth quarter was $2.1 million of benefit related to transition service agreement. Finally, a $0.2 million benefit was recorded in the fourth quarter, a $1.0 million benefit was recorded in the third quarter, a $0.7 million benefit was recorded in the second quarter and a $0.3 million benefit was recorded in the first quarter related to stock options. The following tables present certain quarterly financial data for the year ended December 31, 2016 (in thousands except per share amounts).
|  | First |  | Second |  | Third |  | Fourth |
|  | Quarter |  | Quarter |  | Quarter |  | Quarter |
Revenue |  | $ | 312,410 |  | $ | 305,105 |  | $ | 312,796 |  | $ | 344,947 |
Cost of services |  |  | 231,340 |  |  | 226,768 |  |  | 233,541 |  |  | 249,943 |
Selling, general and administrative |  |  | 45,500 |  |  | 44,774 |  |  | 40,628 |  |  | 44,895 |
Depreciation and amortization |  |  | 17,729 |  |  | 17,221 |  |  | 16,811 |  |  | 16,914 |
Restructuring and integration charges, net |  |  | 88 |  |  | 114 |  |  | 3,688 |  |  | 502 |
Impairment losses |  |  | — |  |  | — |  |  | 5,602 |  |  | 26,448 |
Income from operations |  |  | 17,753 |  |  | 16,228 |  |  | 12,526 |  |  | 6,245 |
Other income (expense) |  |  | (1,320) |  |  | (734) |  |  | (690) |  |  | 290 |
Provision for income taxes |  |  | (4,528) |  |  | (2,952) |  |  | 813 |  |  | (6,196) |
Non-controlling interest |  |  | (680) |  |  | (926) |  |  | (1,198) |  |  | (953) |
Net income attributable to TTEC stockholders |  | $ | 11,225 |  | $ | 11,616 |  | $ | 11,451 |  | $ | (614) |
Weighted average shares outstanding |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  |  | 48,368 |  |  | 47,873 |  |  | 47,081 |  |  | 46,386 |
Diluted |  |  | 48,746 |  |  | 48,221 |  |  | 47,315 |  |  | 46,677 |
Net income per share attributable to TTEC stockholders |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.23 |  | $ | 0.24 |  | $ | 0.24 |  | $ | (0.01) |
Diluted |  | $ | 0.23 |  | $ | 0.24 |  | $ | 0.24 |  | $ | (0.01) |
Included in Other income (expense) in the third quarter is $4.3 million benefit related to fair value adjustments to the contingent consideration related to revised estimates of the performance against the targets for one of the Company’s acquisitions. Included in Other income (expense) in the third quarter is a $5.3 million expense related to the determination that two business units would be divested and are being reported as Assets Held for Sale. Included in the Provision for Income Taxes is a $1.3 million benefit in the third quarter and a $0.2 million benefit in the fourth quarter related to restructuring charges. Also included are a $0.1 million of benefit in the first quarter, $1.0 million of expense in the second quarter, and $0.4 million of benefit in the fourth quarter related to changes in valuation allowances. Also included are $0.7 million of expense recorded in the second quarter, $0.6 million of expense recorded in the third quarter and $0.4 million of expense recorded in the fourth quarter related to return to provision adjustments. Additionally, in the fourth quarter there was $1.1 million of expense related to a transfer pricing adjustment for a prior period. Also included are a $0.5 million expense in the fourth quarter related to tax rate changes. Finally, there was a $1.5 million benefit in the third quarter and a $8.3 million benefit in the fourth quarter related to impairments and assets held for sale.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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