10-K
TTEC HOLDINGS, INC. filed this Form 10-K on 03/06/2019
Entire Document
 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

Consolidated Statements of Comprehensive Income (Loss)

(Amounts in thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

    

 

2018

    

2017

    

2016

 

Revenue

 

 

$

1,509,171

 

$

1,477,365

 

$

1,275,258

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses

 

 

 

 

 

 

 

 

 

 

 

Cost of services (exclusive of depreciation and amortization presented separately below)

 

 

 

1,157,927

 

 

1,110,068

 

 

941,592

 

Selling, general and administrative

 

 

 

182,428

 

 

182,314

 

 

175,797

 

Depreciation and amortization

 

 

 

69,179

 

 

64,507

 

 

68,675

 

Restructuring and integration charges, net

 

 

 

6,131

 

 

14,665

 

 

4,392

 

Impairment losses

 

 

 

1,452

 

 

5,322

 

 

32,050

 

Total operating expenses

 

 

 

1,417,117

 

 

1,376,876

 

 

1,222,506

 

 

 

 

 

 

 

 

 

 

 

 

 

Income from operations

 

 

 

92,054

 

 

100,489

 

 

52,752

 

 

 

 

 

 

 

 

 

 

 

 

 

Other income (expense)

 

 

 

 

 

 

 

 

 

 

 

Interest income

 

 

 

4,476

 

 

2,841

 

 

1,234

 

Interest expense

 

 

 

(28,674)

 

 

(13,734)

 

 

(7,943)

 

Other income (expense), net

 

 

 

(11,618)

 

 

1,869

 

 

6,855

 

Loss on asset held for sale

 

 

 

 —

 

 

(2,578)

 

 

(2,600)

 

Total other income (expense)

 

 

 

(35,816)

 

 

(11,602)

 

 

(2,454)

 

 

 

 

 

 

 

 

 

 

 

 

 

Income before income taxes

 

 

 

56,238

 

 

88,887

 

 

50,298

 

 

 

 

 

 

 

 

 

 

 

 

 

Provision for income taxes

 

 

 

(16,483)

 

 

(78,075)

 

 

(12,863)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

 

39,755

 

 

10,812

 

 

37,435

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to noncontrolling interest

 

 

 

(3,938)

 

 

(3,556)

 

 

(3,757)

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income attributable to TTEC stockholders

 

 

$

35,817

 

$

7,256

 

$

33,678

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

 

Net income

 

 

$

39,755

 

$

10,812

 

$

37,435

 

Foreign currency translation adjustments

 

 

 

(30,382)

 

 

8,285

 

 

(21,055)

 

Derivative valuation, gross

 

 

 

11,526

 

 

27,931

 

 

(7,838)

 

Derivative valuation, tax effect

 

 

 

(4,058)

 

 

(11,284)

 

 

2,330

 

Other, net of tax

 

 

 

308

 

 

105

 

 

721

 

Total other comprehensive income (loss)

 

 

 

(22,606)

 

 

25,037

 

 

(25,842)

 

Total comprehensive income (loss)

 

 

 

17,149

 

 

35,849

 

 

11,593

 

 

 

 

 

 

 

 

 

 

 

 

 

Less: Comprehensive income attributable to noncontrolling interest

 

 

 

(3,624)

 

 

(3,933)

 

 

(3,514)

 

 

 

 

 

 

 

 

 

 

 

 

 

Comprehensive income (loss) attributable to TTEC stockholders

 

 

$

13,525

 

$

31,916

 

$

8,079

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares outstanding

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

 

46,064

 

 

45,826

 

 

47,423

 

Diluted

 

 

 

46,385

 

 

46,382

 

 

47,736

 

 

 

 

 

 

 

 

 

 

 

 

 

Net income per share attributable to TTEC stockholders

 

 

 

 

 

 

 

 

 

 

 

Basic

 

 

$

0.78

 

$

0.16

 

$

0.71

 

Diluted

 

 

$

0.77

 

$

0.16

 

$

0.71

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

F-5