XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.25.3

DERIVATIVES | 9 Months Ended
--- | ---
Sep. 30, 2025
DERIVATIVES [ABSTRACT] |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | (6)DERIVATIVES TTEC’s Financial Risk Management Committee monitors cash flow and fair value foreign exchange exposures and interest rate exposures on a worldwide basis, assesses the potential economics and earnings impact from foreign exchange and/or interest rate fluctuations, and deploys risk management policies and solutions to reduce volatility related to TTEC’s exposure to foreign exchange rate changes and interest rate changes. The Company enters into foreign exchange forward and option contracts to reduce its exposure to foreign currency exchange rate fluctuations that are associated with forecasted revenue earned in foreign locations. Upon proper qualification, these contracts are designated as cash flow hedges. The Company formally documents at the inception of the hedge all relationships between hedging instruments and hedged items as well as its risk management objective and strategy for undertaking various hedging activities. The Company also enters into fair value derivative contracts that hedge against foreign currency exchange gains and losses primarily associated with short-term payables and receivables. These swap contracts are not designated as hedges under ASC Topic 815, Derivatives and Hedging. It is the Company’s policy to only enter into derivative contracts with investment grade counterparty financial institutions, and correspondingly, the fair value of derivative assets considers, among other factors, the creditworthiness of these counterparties. Conversely, the fair value of derivative liabilities reflects the Company’s creditworthiness. As of September 30, 2025, the Company has not experienced, nor does it anticipate, any issues related to derivative counterparty defaults. All derivative financial instruments are reported at gross fair value and recorded in Prepaids and other current assets, Other long-term assets, Other current liabilities, and Other long-term liabilities in the accompanying Consolidated Balance Sheets as applicable for each period end. Fair Value of Derivative Instruments The fair value and location of derivatives in the Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2025 |
​ | ​ | Designated | Not Designated |
​ | ​ | as Hedging | as Hedging | ​
Designation: | ​ | Instruments | Instruments |
​ |  | Foreign |  | Foreign |
Derivative contract type: | ​ | Exchange | ​ | Exchange |
Derivative classification: | ​ | Cash Flow | ​ | Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaids and other current assets | ​ | $ | 1,433 | ​ | $ | 159 | ​
Other long-term assets | ​ |  | 202 | ​ |  | — | ​
Other current liabilities | ​ |  | (1,169) | ​ |  | (4) | ​
Other long-term liabilities | ​ |  | (130) | ​ |  | — | ​
Total fair value of derivatives, net | ​ | $ | 336 | ​ | $ | 155 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2024 |
​ | ​ | Designated | Not Designated |
​ | ​ | as Hedging | as Hedging | ​
Designation: | ​ | Instruments | Instruments |
​ |  | Foreign |  | Foreign |
Derivative contract type: | ​ | Exchange | ​ | Exchange |
Derivative classification: | ​ | Cash Flow | ​ | Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Prepaids and other current assets | ​ | $ | 783 | ​ | $ | 6 | ​
Other long-term assets | ​ |  | — | ​ |  | — | ​
Other current liabilities | ​ |  | (2,679) | ​ |  | (183) | ​
Other long-term liabilities | ​ |  | (1,471) | ​ |  | — | ​
Total fair value of derivatives, net | ​ | $ | (3,367) | ​ | $ | (177) | ​
​ Cash Flow Hedges Changes in fair value of derivative instruments designated as cash flow hedges are recorded in Accumulated other comprehensive income (loss), a component of Stockholders’ Equity, to the extent they are deemed effective. Ineffectiveness is measured based on the change in fair value of the forward contracts and the fair value of the hypothetical derivatives with terms that match the critical terms of the risk being hedged. Based on the criteria established by current accounting standards, the Company’s cash flow hedge contracts are deemed to be highly effective. Any realized gains or losses resulting from the foreign currency cash flow hedges are recognized together with the hedged transaction within Revenue. The Company’s foreign exchange cash flow hedging instruments as of September 30, 2025 and December 31, 2024 are summarized as follows (amounts in thousands). All hedging instruments are forward contracts. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | % Maturing | ​ | ​ | Contracts |
​ | ​ | Notional | ​ | Notional | ​ | ​ | in the next | ​ | ​ | Maturing |
As of September 30, 2025 | ​ | Amount | ​ | Amount | ​ | ​ | 12 months | ​ | ​ | Through |
Philippine Peso |  | 3,467,000 | ​ | $ | 60,451 | (1) | ​ | 88.8 | % | ​ | March 2027 | ​
Mexican Peso |  | 426,500 | ​ |  | 21,218 | ​ | ​ | 83.5 | % | ​ | December 2026 | ​
Colombian Peso |  | 8,000,000 | ​ |  | 1,931 | ​ | ​ | 100.0 | % | ​ | August 2026 | ​
​ | ​ | ​ | ​ | $ | 83,600 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | % Maturing | ​ | ​ | Contracts | ​
​ | ​ | Notional | ​ | Notional |  | ​ | in the next | ​ | ​ | Maturing | ​
As of December 31, 2024 | ​ | Amount | ​ | Amount |  | ​ | 12 months | ​ | ​ | Through | ​
Philippine Peso |  | 6,034,000 | ​ | $ | 105,098 | (1) | ​ | 67.8 | % | ​ | March 2027 | ​
Mexican Peso |  | 548,000 | ​ |  | 26,682 | ​ | ​ | 64.6 | % | ​ | December 2026 | ​
​ | ​ | ​ | ​ | $ | 131,780 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(1) | Includes contracts to purchase Philippine pesos in exchange for New Zealand dollars and Australian dollars, which are translated into equivalent U.S. dollars on September 30, 2025 and December 31, 2024.
​ The amounts and location of gains and losses on Cash Flow Hedges within the Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2025 and 2024 were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Nine Months Ended | ​
​ | ​ | September 30, | ​ | September 30, | ​
​ | ​ | 2025 |  | 2024 |  | 2025 |  | 2024 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Foreign Exchange Cash Flow Hedges, effective: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount of gain (loss) recognized in Other comprehensive income (loss) (1) | ​ | $ | (1,213) | ​ | $ | 3,514 | ​ | $ | 4,366 | ​ | $ | (1,801) | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount and location of gain (loss) reclassified from Accumulated OCI to: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Revenue | ​ | $ | 411 | ​ | $ | 681 | ​ | $ | 896 | ​ | $ | 2,669 | ​
Provision for income taxes | ​ | ​ | (107) | ​ | ​ | (177) | ​ | ​ | (233) | ​ | ​ | (695) | ​
Net income (loss) | ​ | $ | 304 | ​ | $ | 504 | ​ | $ | 663 | ​ | $ | 1,974 | ​
(1) As a result of the valuation allowance recorded in Q2 2024 against the Company’s U.S. Deferred Tax Assets, there is no tax impact recognized in Other comprehensive income (loss) for unrealized foreign exchange cash flow hedge gains or losses in 2025. The activity related to the change in net unrealized gains and losses on the cash flow hedges included in “Accumulated other comprehensive income (loss)” in our unaudited consolidated statements of stockholders’ equity is presented in Note 12. Fair Value Hedges Changes in the fair value of derivative instruments not designated as hedges are recognized in earnings in Other income (expense), net on a before tax basis and are offset by gains and losses on the related hedged items. The Company’s volume of foreign exchange fair value derivative contracts as of September 30, 2025 and December 31, 2024 are summarized as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | ​ | ​ | ​ | ​ |
​ | ​ | Notional | ​ | Notional | ​ | ​ | ​ | ​ | ​ | ​ |
As of September 30, 2025 (2) | ​ | Amount | ​ | Amount | ​ | ​ | ​ | ​ | ​ | ​ |
Australian Dollar |  | 2,950 | ​ | $ | 1,934 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Canadian Dollar |  | 6,800 | ​ | ​ | 4,891 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Euro | ​ | 15,500 | ​ | ​ | 18,099 | ​ | ​ | ​ | ​ | ​ | ​ | ​
British Pound | ​ | 4,100 | ​ | ​ | 5,504 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mexican Peso |  | 62,000 | ​ | ​ | 3,380 | ​ | ​ | ​ | ​ | ​ | ​ | ​
New Zealand Dollar | ​ | 1,500 | ​ | ​ | 866 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Polish Zloty |  | 17,800 | ​ |  | 4,859 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | $ | 39,533 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ (2) All fair value hedges are short-term and matured in October 2025.
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Local |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Currency | ​ | U.S. Dollar | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Notional | ​ | Notional |  | ​ | ​ | ​ | ​ | ​ | ​
As of December 31, 2024 (3) | ​ | Amount | ​ | Amount |  | ​ | ​ | ​ | ​ | ​ | ​
Australian Dollar |  | 3,850 | ​ | $ | 2,393 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Canadian Dollar | ​ | 5,850 | ​ | ​ | 4,137 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Euro | ​ | 11,000 | ​ | ​ | 11,456 | ​ | ​ | ​ | ​ | ​ | ​ | ​
British Pound |  | 5,600 | ​ | ​ | 7,066 | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mexican Peso |  | 130,000 | ​ |  | 6,307 | ​ | ​ | ​ | ​ | ​ | ​ | ​
New Zealand Dollar |  | 3,400 | ​ | ​ | 1,914 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | $ | 33,273 | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ (3) All fair value hedges are short-term and matured in January 2025. The amounts and location of before tax gains and losses on Fair Value Hedges within the Consolidated Statements of Comprehensive Income (Loss) for the three and nine months ended September 30, 2025 and 2024, respectively, were as follows (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended September 30, |
​ | ​ | 2025 | ​ | 2024 |
Designation: |  | Not Designated as Hedging Instruments | ​
Derivative contract type: |  | Foreign Exchange | ​
Derivative classification: |  | Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other income (expense), net |  | $ | (7) |  | $ | (683) | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30, | ​
​ | ​ | 2025 | ​ | 2024 | ​
Designation: |  | Not Designated as Hedging Instruments | ​
Derivative contract type: |  | Foreign Exchange | ​
Derivative classification: |  | Fair Value | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss): | ​ | ​ | ​ | ​ | ​ | ​ | ​
Other income (expense), net |  | $ | 275 |  | $ | (1,213) | ​
​ The related cash flow impacts of all the derivative activities are reflected as cash flows from operating activities.

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 182 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-182 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 185 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-185 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 184 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-184 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 181 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-181 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (a)(5) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4H -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4H Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4H -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4H Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 15 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480960/815-15-50-3 Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 183 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480401/815-10-55-183 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (a)(4) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4K -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4K Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4I -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4I Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4F -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4F Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1)(iii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1)(ii) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1)(i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/815/tableOfContent Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480237/815-40-50-5 Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5C -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5C + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration