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

Table of Contents

TTEC HOLDINGS, INC. AND SUBSIDIARIES

Notes to the Consolidated Financial Statements

(5)PROPERTY, PLANT AND EQUIPMENT

 

Property, plant and equipment consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

    

2018

    

2017

 

Land and buildings

 

$

33,286

 

$

38,858

 

Computer equipment and software

 

 

411,653

 

 

390,944

 

Telephone equipment

 

 

45,351

 

 

46,521

 

Furniture and fixtures

 

 

74,538

 

 

76,860

 

Leasehold improvements

 

 

161,960

 

 

176,467

 

Motor vehicles

 

 

90

 

 

158

 

Construction-in-progress and other

 

 

1,131

 

 

220

 

Property, plant and equipment, gross

 

 

728,009

 

 

730,028

 

Less: Accumulated depreciation and amortization

 

 

(566,486)

 

 

(566,682)

 

Property, plant and equipment, net

 

$

161,523

 

$

163,346

 

 

Depreciation and amortization expense for property, plant and equipment was $58.4 million, $57.0 million and $59.1 million for the years ended December 31, 2018,  2017 and 2016, respectively.

Included in the computer equipment and software is internally developed software of $11.2 million net and $8.5 million net as of December 31, 2018 and 2017, respectively.

 

 

(6)GOODWILL

Goodwill consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

 

    

 

 

    

Effect of

    

 

 

 

 

 

December 31,

 

Acquisitions /

 

 

 

 

Foreign

 

December 31,

 

 

 

2017

 

Adjustments

 

Impairments

 

Currency

 

2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer Management Services

 

$

119,497

 

$

(125)

 

$

 —

 

$

(5,336)

 

$

114,036

 

Customer Growth Services

 

 

24,439

 

 

 —

 

 

 —

 

 

 —

 

 

24,439

 

Customer Technology Services

 

 

40,839

 

 

1,232

 

 

 —

 

 

(92)

 

 

41,979

 

Customer Strategy Services

 

 

24,952

 

 

 —

 

 

 —

 

 

(773)

 

 

24,179

 

Total

 

$

209,727

 

$

1,107

 

$

 —

 

$

(6,201)

 

$

204,633

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

 

    

 

 

    

Effect of

    

 

 

 

 

 

December 31,

 

Acquisitions /

 

 

 

 

Foreign

 

December 31,

 

 

 

2016

 

Adjustments

 

Impairments

 

Currency

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer Management Services

 

$

42,589

 

$

73,934

 

$

 —

 

$

2,974

 

$

119,497

 

Customer Growth Services

 

 

24,439

 

 

 —

 

 

 —

 

 

 

 

24,439

 

Customer Technology Services

 

 

41,500

 

 

(661)

 

 

 

 

 —

 

 

40,839

 

Customer Strategy Services

 

 

24,153

 

 

 —

 

 

 

 

799

 

 

24,952

 

Total

 

$

132,681

 

$

73,273

 

$

 —

 

$

3,773

 

$

209,727

 

 

Impairment

The Company has four reporting units with goodwill and performs a goodwill impairment test on at least an annual basis. The Company conducts its annual goodwill impairment test during the fourth quarter, or more frequently, if indicators of impairment exist.

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