$TTEC
TTEC Holdings, Inc.

2024 Q2 Form 10-Q Financial Statement

#000155837024007368 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $534.1M $576.6M
YoY Change -11.04% -8.95%
Cost Of Revenue $417.9M $453.8M
YoY Change -10.07% -5.98%
Gross Profit $116.2M $122.8M
YoY Change -14.38% -18.45%
Gross Profit Margin 21.76% 21.3%
Selling, General & Admin $73.73M $74.58M
YoY Change -2.14% 0.76%
% of Gross Profit 63.45% 60.72%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $25.07M $25.15M
YoY Change 0.5% -2.64%
% of Gross Profit 21.58% 20.47%
Operating Expenses $73.73M $74.58M
YoY Change -2.14% 0.76%
Operating Profit -$224.4M $22.71M
YoY Change -817.02% -48.86%
Interest Expense $20.43M $21.07M
YoY Change 7.58% 21.16%
% of Operating Profit 92.78%
Other Income/Expense, Net -$18.23M -$19.88M
YoY Change -14.97% 27.68%
Pretax Income -$242.6M $2.829M
YoY Change -2561.12% -90.19%
Income Tax $54.13M $2.329M
% Of Pretax Income 82.33%
Net Earnings -$299.5M -$2.305M
YoY Change -24834.85% -112.36%
Net Earnings / Revenue -56.08% -0.4%
Basic Earnings Per Share -$6.30 -$0.05
Diluted Earnings Per Share -$6.29 -$0.05
COMMON SHARES
Basic Shares Outstanding 47.56M 47.43M
Diluted Shares Outstanding 47.62M 47.59M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.78M $91.51M
YoY Change -30.49% -39.55%
Cash & Equivalents $79.78M $91.51M
Short-Term Investments
Other Short-Term Assets $117.1M $105.0M
YoY Change -23.21% -9.49%
Inventory
Prepaid Expenses
Receivables $381.7M $404.7M
Other Receivables $24.87M $16.33M
Total Short-Term Assets $603.4M $617.5M
YoY Change -16.32% -14.36%
LONG-TERM ASSETS
Property, Plant & Equipment $255.3M $298.3M
YoY Change -15.13% 5.91%
Goodwill $573.6M $807.1M
YoY Change -29.06% -0.11%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $99.86M $108.8M
YoY Change 17.7% 37.98%
Total Long-Term Assets $1.189B $1.498B
YoY Change -18.0% 5.84%
TOTAL ASSETS
Total Short-Term Assets $603.4M $617.5M
Total Long-Term Assets $1.189B $1.498B
Total Assets $1.793B $2.115B
YoY Change -17.44% -0.98%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $87.12M $90.47M
YoY Change 3.3% 1.3%
Accrued Expenses $48.27M $40.31M
YoY Change -34.2% -47.25%
Deferred Revenue $77.78M $87.79M
YoY Change -15.23% 0.46%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $387.7M $384.2M
YoY Change -14.09% -11.75%
LONG-TERM LIABILITIES
Long-Term Debt $930.0M $953.0M
YoY Change 1.64% 2.47%
Other Long-Term Liabilities $73.66M $72.09M
YoY Change 12.07% 6.05%
Total Long-Term Liabilities $1.101B $1.118B
YoY Change 2.06% 3.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $387.7M $384.2M
Total Long-Term Liabilities $1.101B $1.118B
Total Liabilities $1.488B $1.503B
YoY Change -2.7% -1.22%
SHAREHOLDERS EQUITY
Retained Earnings $565.7M $865.3M
YoY Change -37.59% -4.42%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $286.5M $595.3M
YoY Change
Total Liabilities & Shareholders Equity $1.793B $2.115B
YoY Change -17.44% -0.98%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$299.5M -$2.305M
YoY Change -24834.85% -112.36%
Depreciation, Depletion And Amortization $25.07M $25.15M
YoY Change 0.5% -2.64%
Cash From Operating Activities $49.27M -$15.63M
YoY Change -48.61% -131.86%
INVESTING ACTIVITIES
Capital Expenditures $14.21M $13.47M
YoY Change -26.32% -1.43%
Acquisitions
YoY Change
Other Investing Activities $91.00K $25.00K
YoY Change 4450.0% -3.85%
Cash From Investing Activities -$14.12M -$13.45M
YoY Change -26.79% -1.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -29.21M -46.49M
YoY Change -59.05% 6.53%
NET CHANGE
Cash From Operating Activities 49.27M -15.63M
Cash From Investing Activities -14.12M -13.45M
Cash From Financing Activities -29.21M -46.49M
Net Change In Cash 5.942M -73.72M
YoY Change 12.84% 903.51%
FREE CASH FLOW
Cash From Operating Activities $49.27M -$15.63M
Capital Expenditures $14.21M $13.47M
Free Cash Flow $35.07M -$29.10M
YoY Change -54.23% -182.23%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q1 us-gaap Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
http://fasb.org/us-gaap/2023#ServiceMember
CY2023Q1 us-gaap Revenue From Contract With Customer Product And Service Extensible List
RevenueFromContractWithCustomerProductAndServiceExtensibleList
http://fasb.org/us-gaap/2023#ServiceMember
CY2024Q1 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2023Q4 us-gaap Derivative Liability Statement Of Financial Position Extensible Enumeration
DerivativeLiabilityStatementOfFinancialPositionExtensibleEnumeration
http://fasb.org/us-gaap/2023#OtherLiabilitiesCurrent http://fasb.org/us-gaap/2023#OtherLiabilitiesNoncurrent
CY2024Q1 us-gaap Defined Contribution Plan Tax Status Extensible List
DefinedContributionPlanTaxStatusExtensibleList
http://fasb.org/us-gaap/2023#NonqualifiedPlanMember
CY2024Q1 dei Entity Central Index Key
EntityCentralIndexKey
0001013880
CY2024Q1 dei Amendment Flag
AmendmentFlag
false
CY2024Q1 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2024
CY2024Q1 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q1
CY2024Q1 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
CY2024Q1 dei Document Type
DocumentType
10-Q
CY2024Q1 dei Document Quarterly Report
DocumentQuarterlyReport
true
CY2024Q1 dei Document Period End Date
DocumentPeriodEndDate
2024-03-31
CY2024Q1 dei Document Transition Report
DocumentTransitionReport
false
CY2024Q1 dei Entity File Number
EntityFileNumber
001-11919
CY2024Q1 dei Entity Registrant Name
EntityRegistrantName
TTEC Holdings, Inc.
CY2024Q1 dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
CY2024Q1 dei Entity Tax Identification Number
EntityTaxIdentificationNumber
84-1291044
CY2024Q1 dei Entity Address Address Line1
EntityAddressAddressLine1
6312 South Fiddler’s Green Circle, Suite 100N
CY2024Q1 dei Entity Address City Or Town
EntityAddressCityOrTown
Greenwood Village
CY2024Q1 dei Entity Address State Or Province
EntityAddressStateOrProvince
CO
CY2024Q1 dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
80111
CY2024Q1 dei City Area Code
CityAreaCode
303
CY2024Q1 dei Local Phone Number
LocalPhoneNumber
397-8100
CY2024Q1 dei Security12b Title
Security12bTitle
Common stock of TTEC Holdings, Inc., $0.01 par value per share
CY2024Q1 dei Trading Symbol
TradingSymbol
TTEC
CY2024Q1 dei Security Exchange Name
SecurityExchangeName
NASDAQ
CY2024Q1 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2024Q1 dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
CY2024Q1 dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
CY2024Q1 dei Entity Small Business
EntitySmallBusiness
false
CY2024Q1 dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
CY2024Q1 dei Entity Shell Company
EntityShellCompany
false
CY2024Q2 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
47557165
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91514000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
172747000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2065000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2248000
CY2024Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
404651000
CY2023Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
394868000
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
104985000
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
95064000
CY2024Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
16328000
CY2023Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
18524000
CY2024Q1 us-gaap Assets Current
AssetsCurrent
617478000
CY2023Q4 us-gaap Assets Current
AssetsCurrent
681203000
CY2024Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
185242000
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
191003000
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
113060000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
121574000
CY2024Q1 us-gaap Goodwill
Goodwill
807134000
CY2023Q4 us-gaap Goodwill
Goodwill
808988000
CY2024Q1 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
52059000
CY2023Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
38151000
CY2024Q1 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
189814000
CY2023Q4 us-gaap Other Intangible Assets Net
OtherIntangibleAssetsNet
198433000
CY2024Q1 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
41501000
CY2023Q4 us-gaap Income Taxes Receivable Noncurrent
IncomeTaxesReceivableNoncurrent
44673000
CY2024Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
108766000
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
101573000
CY2024Q1 us-gaap Assets Noncurrent
AssetsNoncurrent
1497576000
CY2023Q4 us-gaap Assets Noncurrent
AssetsNoncurrent
1504395000
CY2024Q1 us-gaap Assets
Assets
2115054000
CY2023Q4 us-gaap Assets
Assets
2185598000
CY2024Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
90473000
CY2023Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
96577000
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
120340000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
146184000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
40314000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
32217000
CY2024Q1 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
5444000
CY2023Q4 us-gaap Accrued Income Taxes Current
AccruedIncomeTaxesCurrent
4909000
CY2024Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
87787000
CY2023Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
81171000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
36457000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
38271000
CY2024Q1 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3400000
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3698000
CY2024Q1 us-gaap Liabilities Current
LiabilitiesCurrent
384215000
CY2023Q4 us-gaap Liabilities Current
LiabilitiesCurrent
403027000
CY2024Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
953000000
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
995000000
CY2024Q1 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
3122000
CY2023Q4 us-gaap Deferred Income Tax Liabilities Net
DeferredIncomeTaxLiabilitiesNet
3137000
CY2024Q1 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
0
CY2023Q4 us-gaap Accrued Income Taxes Noncurrent
AccruedIncomeTaxesNoncurrent
0
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
90218000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
96809000
CY2024Q1 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
72090000
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
72083000
CY2024Q1 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1118430000
CY2023Q4 us-gaap Liabilities Noncurrent
LiabilitiesNoncurrent
1167029000
CY2024Q1 us-gaap Liabilities
Liabilities
1502645000
CY2023Q4 us-gaap Liabilities
Liabilities
1570056000
CY2023Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q1 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q4 us-gaap Preferred Stock Value
PreferredStockValue
0
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2024Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
CY2023Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2024Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000
CY2024Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47447289
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
47427200
CY2024Q1 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
474000
CY2023Q4 us-gaap Common Stock Value Outstanding
CommonStockValueOutstanding
474000
CY2024Q1 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
412768000
CY2023Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
407415000
CY2024Q1 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
34604964
CY2023Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
34625053
CY2024Q1 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
589475000
CY2023Q4 us-gaap Treasury Stock Common Value
TreasuryStockCommonValue
589807000
CY2024Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-93733000
CY2023Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-89876000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
865277000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
870429000
CY2024Q1 us-gaap Minority Interest
MinorityInterest
17098000
CY2023Q4 us-gaap Minority Interest
MinorityInterest
16907000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
612409000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
615542000
CY2024Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2115054000
CY2023Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
2185598000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
576638000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
633286000
CY2024Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
453818000
CY2023Q1 us-gaap Cost Of Goods And Service Excluding Depreciation Depletion And Amortization
CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization
482678000
CY2024Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
74575000
CY2023Q1 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
74010000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25145000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25827000
CY2024Q1 us-gaap Restructuring Charges
RestructuringCharges
249000
CY2023Q1 us-gaap Restructuring Charges
RestructuringCharges
2053000
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
140000
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
4307000
CY2024Q1 us-gaap Costs And Expenses
CostsAndExpenses
553927000
CY2023Q1 us-gaap Costs And Expenses
CostsAndExpenses
588875000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
22711000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
44411000
CY2024Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
983000
CY2023Q1 us-gaap Investment Income Interest
InvestmentIncomeInterest
1164000
CY2024Q1 us-gaap Interest Expense
InterestExpense
21071000
CY2023Q1 us-gaap Interest Expense
InterestExpense
17391000
CY2024Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
206000
CY2023Q1 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
655000
CY2024Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-19882000
CY2023Q1 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
-15572000
CY2024Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
2829000
CY2023Q1 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
28839000
CY2024Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2329000
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
7922000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
500000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
20917000
CY2024Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2805000
CY2023Q1 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
2270000
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-2305000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
18647000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
500000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
20917000
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3837000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9398000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
-310000
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
8861000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
-75000
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
2310000
CY2024Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
121000
CY2023Q1 us-gaap Other Comprehensive Income Other Net Of Tax
OtherComprehensiveIncomeOtherNetOfTax
72000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-3951000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
16021000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-3451000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
36938000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
2711000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
1825000
CY2024Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-6162000
CY2023Q1 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
35113000
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47432000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47234000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47587000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47401000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.39
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.05
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.39
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
578105000
CY2022Q4 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
55645000
CY2023Q1 ttec Noncontrolling Interest Adjustment Due To Buyout
NoncontrollingInterestAdjustmentDueToBuyout
20457000
CY2023Q1 ttec Temporary Noncontrolling Interest Adjustment Due To Buyout
TemporaryNoncontrollingInterestAdjustmentDueToBuyout
20457000
CY2023Q1 ttec Profit Loss Excluding Temporary Equity Net Income
ProfitLossExcludingTemporaryEquityNetIncome
20364000
CY2023Q1 us-gaap Temporary Equity Net Income
TemporaryEquityNetIncome
553000
CY2023Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.52
CY2023Q1 us-gaap Dividends Common Stock
DividendsCommonStock
24572000
CY2023Q1 ttec Temporary Equity Buyout Of Noncontrolling Interest
TemporaryEquityBuyoutOfNoncontrollingInterest
31619000
CY2023Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
3181000
CY2023Q1 ttec Temporary Equity Distributions
TemporaryEquityDistributions
186000
CY2023Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
9398000
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
6551000
CY2023Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-510000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
4154000
CY2023Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-72000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
610838000
CY2023Q1 us-gaap Temporary Equity Carrying Amount Including Portion Attributable To Noncontrolling Interests
TemporaryEquityCarryingAmountIncludingPortionAttributableToNoncontrollingInterests
3936000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
615542000
CY2024Q1 ttec Noncontrolling Interest Adjustment Due To Buyout
NoncontrollingInterestAdjustmentDueToBuyout
0
CY2024Q1 ttec Profit Loss Excluding Temporary Equity Net Income
ProfitLossExcludingTemporaryEquityNetIncome
500000
CY2024Q1 us-gaap Common Stock Dividends Per Share Cash Paid
CommonStockDividendsPerShareCashPaid
0.06
CY2024Q1 us-gaap Dividends Common Stock
DividendsCommonStock
2847000
CY2024Q1 us-gaap Minority Interest Decrease From Distributions To Noncontrolling Interest Holders
MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders
2520000
CY2024Q1 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-3837000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
-235000
CY2024Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
-127000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5812000
CY2024Q1 us-gaap Stockholders Equity Other
StockholdersEquityOther
-121000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
612409000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
500000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
20917000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25145000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25827000
CY2024Q1 ttec Amortization Of Contract Acquisition Costs
AmortizationOfContractAcquisitionCosts
283000
CY2023Q1 ttec Amortization Of Contract Acquisition Costs
AmortizationOfContractAcquisitionCosts
716000
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
643000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
268000
CY2024Q1 ttec Contingent Consideration Imputed Interest Expense And Fair Value Adjustments Net
ContingentConsiderationImputedInterestExpenseAndFairValueAdjustmentsNet
-1240000
CY2023Q1 ttec Contingent Consideration Imputed Interest Expense And Fair Value Adjustments Net
ContingentConsiderationImputedInterestExpenseAndFairValueAdjustmentsNet
3178000
CY2024Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-31000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2263000
CY2024Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-510000
CY2023Q1 us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-605000
CY2024Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
140000
CY2023Q1 us-gaap Asset Impairment Charges
AssetImpairmentCharges
4307000
CY2024Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
0
CY2023Q1 us-gaap Gain Loss On Sale Of Business
GainLossOnSaleOfBusiness
-301000
CY2024Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-12628000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-4994000
CY2024Q1 ttec Excess Tax Benefit From Equity Based Awards
ExcessTaxBenefitFromEquityBasedAwards
-292000
CY2023Q1 ttec Excess Tax Benefit From Equity Based Awards
ExcessTaxBenefitFromEquityBasedAwards
1000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5812000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4154000
CY2024Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
-77000
CY2023Q1 us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
493000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
11301000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-11089000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-3094000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-13325000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-25845000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
-22352000
CY2024Q1 ttec Increase Decrease In Deferred Revenue And Other Liabilities
IncreaseDecreaseInDeferredRevenueAndOtherLiabilities
-1080000
CY2023Q1 ttec Increase Decrease In Deferred Revenue And Other Liabilities
IncreaseDecreaseInDeferredRevenueAndOtherLiabilities
-10052000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15629000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
49058000
CY2024Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
25000
CY2023Q1 us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
26000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13473000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
13669000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13448000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13643000
CY2024Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-42000000
CY2023Q1 us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-30000000
CY2024Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
741000
CY2023Q1 us-gaap Repayments Of Other Debt
RepaymentsOfOtherDebt
600000
CY2024Q1 ttec Payments Of Contingent Consideration
PaymentsOfContingentConsideration
0
CY2023Q1 ttec Payments Of Contingent Consideration
PaymentsOfContingentConsideration
9162000
CY2024Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0
CY2023Q1 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0
CY2024Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
1100000
CY2023Q1 us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
CY2024Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
2520000
CY2023Q1 us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
3367000
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
127000
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
510000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-46488000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-43639000
CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
1847000
CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
878000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-73718000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7346000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
173905000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167064000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100187000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
159718000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
19755000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
17097000
CY2024Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
17561000
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
4793000
CY2024Q1 ttec Acquisition Of Long Lived Assets Through Finance Leases
AcquisitionOfLongLivedAssetsThroughFinanceLeases
200000
CY2023Q1 ttec Acquisition Of Long Lived Assets Through Finance Leases
AcquisitionOfLongLivedAssetsThroughFinanceLeases
197000
CY2024Q1 ttec Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
-2426000
CY2023Q1 ttec Increase Decrease In Capital Expenditures Incurred But Not Yet Paid
IncreaseDecreaseInCapitalExpendituresIncurredButNotYetPaid
5079000
CY2024Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
2847000
CY2023Q1 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
24572000
CY2024Q1 us-gaap Nature Of Operations
NatureOfOperations
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">Summary of Business</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">Founded in 1983, TTEC Holdings, Inc. (“TTEC”, “the Company”; pronounced “T-TEC”) is a global customer experience (“CX”) outsourcing partner for marquee and disruptive brands and public sector clients. The Company designs, builds, and operates technology-enabled customer experiences across digital and live interaction channels to help clients increase customer loyalty, revenue, and profitability. By combining digital solutions with data-driven service capabilities, the Company helps clients improve their customer satisfaction while lowering their total cost to serve. As of March 31, 2024, TTEC served approximately 750<span style="color:#ff0000;"> </span>clients across targeted industry verticals including financial services, healthcare, public sector, telecom, technology, media, travel and hospitality, automotive and retail.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">The Company operates and reports its financial results of operation through two business segments: </p><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;"><b style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:bold;">TTEC Digital</b><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> is one of the largest CX technology providers and is focused exclusively on the intersection of Contact Center as a Service (CCaaS), Customer Relationship Management (CRM), and Artificial Intelligence (AI) and Analytics. A professional services organization comprised of software engineers, systems architects, data scientists and CX strategists, this segment creates and implements strategic CX transformation roadmaps; sells, operates, and provides managed services for cloud platforms and premise based CX technologies including Amazon Web Services (“AWS”), Cisco, Genesys, Google, and Microsoft; and creates proprietary IP to support industry specific and custom client needs. TTEC Digital serves clients across enterprise and small and medium sized business segments and has a dedicated unit with government technology certifications serving the public sector. </span></td></tr></table><div style="margin-top:6pt;"></div><table style="border-collapse:collapse;font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;margin-bottom:0pt;margin-top:0pt;table-layout:fixed;text-align:justify;width:100%;border:0pt;"><tr><td style="width:18pt;"></td><td style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;">•</td><td style="padding:0pt;"><b style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:bold;">TTEC Engage</b><span style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:normal;font-weight:normal;"> provides the digitally enabled CX operational and managed services to support large, complex enterprise clients’ end-to-end customer interactions at scale. Tailored to meet industry specific and business needs, this segment delivers data-driven omnichannel customer care, customer acquisition, growth, and retention services, tech support, trust and safety and back-office solutions. The segment’s technology-enabled delivery model covers the entire associate lifecycle including recruitment, onboarding, training, delivery, workforce management and quality assurance. </span></td></tr></table><div style="margin-top:6pt;"></div><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">TTEC demonstrates its market leadership through strategic collaboration across TTEC Digital and TTEC Engage when there is client demand and fit for the Company’s integrated solutions. This partnership is central to the Company’s ability to deliver comprehensive and transformational customer experience solutions to its clients, including integrated delivery, go-to-market and innovation for truly differentiated, market leading CX solutions.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">During the first quarter of 2024, the combined TTEC Digital and TTEC Engage global operating platform delivered onshore, nearshore and offshore services in 22 countries on six continents – the United States, Australia, Belgium, Brazil, Bulgaria, Canada, Colombia, Costa Rica, Egypt, Germany, Greece, Honduras, India, Ireland, Mexico, the Netherlands, New Zealand, the Philippines, Poland, South Africa, Thailand, and the United Kingdom – with the help of approximately 58,000 customer care associates, consultants, technologists, and CX professionals.</p>
CY2024Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
22
CY2024Q1 dei Entity Number Of Employees
EntityNumberOfEmployees
58000
CY2021Q4 ttec Line Of Credit Initial Borrowing Capacity
LineOfCreditInitialBorrowingCapacity
1500000000
CY2024Q1 us-gaap Line Of Credit Facility Expiration Date1
LineOfCreditFacilityExpirationDate1
2026-11-23
CY2024Q1 us-gaap Line Of Credit Facility Current Borrowing Capacity
LineOfCreditFacilityCurrentBorrowingCapacity
1300000000
CY2024Q1 ttec Percentage Of Average Book Value Of Accounts Receivable Permitted To Be Factored
PercentageOfAverageBookValueOfAccountsReceivablePermittedToBeFactored
25
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">The preparation of the Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reporting period. On an ongoing basis, the Company evaluates its estimates including those related to derivatives and hedging activities, income taxes including the valuation allowance for deferred tax assets, litigation reserves, restructuring reserves, allowance for credit losses, contingent consideration, redeemable noncontrolling interest, and valuation of goodwill, long-lived and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ materially from these estimates under different assumptions or conditions.</p>
CY2024Q1 us-gaap Reclassifications
Reclassifications
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">Out-of-period Adjustment</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">The Consolidated Financial Statements for the three months ended June 30, 2023 included an adjustment of $14.2 million to other comprehensive income and deferred tax assets, to correct for an error identified by management during the preparation of the financial statements. This adjustment was to reflect the deferred tax impact of currency translation adjustments, of which $14.2 million related to prior annual fiscal periods. Management has determined that this error was not material to the historical financial statements in any individual period or in the aggregate and did not result in the previously issued financial statements being materially misstated. The impact to the three and six month periods ended June 30, 2023 was not material. As such, management recorded the correction as an out-of-period adjustment in the three months ended June 30, 2023.</p>
CY2023Q2 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
14200000
CY2022 us-gaap Prior Period Reclassification Adjustment
PriorPeriodReclassificationAdjustment
14200000
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
91514000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
172747000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
100187000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
173905000
CY2024Q1 us-gaap Line Of Credit Facility Collateral
LineOfCreditFacilityCollateral
Letter of credit fees are one eighth of 1% of the stated amount of the letter of credit on the date of issuance, renewal or amendment, plus an annual fee equal to the borrowing margin for SOFR loans.
CY2024Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
953000000.0
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
995000000.0
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;"><b style="font-weight:bold;">Concentration of Credit Risk</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;line-height:1.19;text-align:justify;margin:0pt 0pt 6pt 0pt;">The Company is exposed to credit risk in the normal course of business, primarily related to accounts receivable and derivative instruments. Historically, the losses related to credit risk have been immaterial. The Company regularly monitors its credit risk to mitigate the possibility of current and future exposures resulting in a loss. The Company evaluates the creditworthiness of its clients prior to entering into an agreement to provide services and as necessary through the life of the client relationship. The Company does not believe it is exposed to more than a nominal amount of credit risk in its derivative hedging activities, as the Company diversifies its activities across eight investment-grade financial institutions.</p>
CY2024Q1 us-gaap Business Combination Contingent Consideration Arrangements Change In Amount Of Contingent Consideration Liability1
BusinessCombinationContingentConsiderationArrangementsChangeInAmountOfContingentConsiderationLiability1
2900000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
576638000
CY2024Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25145000
CY2024Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
22711000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
633286000
CY2023Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25827000
CY2023Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
44411000
CY2024Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
13473000
CY2023Q1 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
13669000
CY2024Q1 us-gaap Assets
Assets
2115054000
CY2023Q4 us-gaap Assets
Assets
2185598000
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
576638000
CY2023Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
633286000
CY2024Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
1072000000.0
CY2023Q1 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
1061900000
CY2024Q1 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
95000000
CY2024Q1 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
200000
CY2024Q1 ttec Letters Of Credit Issued Outside Line Of Credit Facility
LettersOfCreditIssuedOutsideLineOfCreditFacility
300000
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2248000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
3524000
CY2024Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-31000
CY2023Q1 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2263000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
150000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
712000
CY2024Q1 ttec Effect Of Foreign Currency Allowance For Doubtful Accounts
EffectOfForeignCurrencyAllowanceForDoubtfulAccounts
-2000
CY2023Q1 ttec Effect Of Foreign Currency Allowance For Doubtful Accounts
EffectOfForeignCurrencyAllowanceForDoubtfulAccounts
3000
CY2024Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2065000
CY2023Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
5078000
CY2024Q1 us-gaap Receivables Net Current
ReceivablesNetCurrent
85115000
CY2023Q4 us-gaap Receivables Net Current
ReceivablesNetCurrent
99994000
CY2024Q1 us-gaap Receivables From Customers
ReceivablesFromCustomers
8673000
CY2023Q4 us-gaap Receivables From Customers
ReceivablesFromCustomers
1158000
CY2023Q4 us-gaap Goodwill
Goodwill
808988000
CY2024Q1 us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-1854000
CY2024Q1 us-gaap Goodwill
Goodwill
807134000
CY2023Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
6315000
CY2022Q4 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
89000
CY2024Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
966000
CY2023Q1 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
6935000
CY2024Q1 ttec Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetOfTax
1201000
CY2023Q1 ttec Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetOfTax
384000
CY2024Q1 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
6080000
CY2023Q1 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
6640000
CY2023Q4 us-gaap Derivative Notional Amount
DerivativeNotionalAmount
73300000
CY2024Q1 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
953000000.0
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
995000000.0
CY2024Q1 us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.071
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1496000
CY2024Q1 ttec Purchase Price Payable Acquired During Period
PurchasePricePayableAcquiredDuringPeriod
0
CY2024Q1 ttec Purchase Price Payable Payments During Period
PurchasePricePayablePaymentsDuringPeriod
0
CY2024Q1 ttec Contingent Consideration Payable Imputed Interest Expense And Other Adjustments
ContingentConsiderationPayableImputedInterestExpenseAndOtherAdjustments
1240000
CY2024Q1 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
256000
CY2024Q1 us-gaap Impaired Long Lived Assets Held And Used Method For Determining Fair Value
ImpairedLongLivedAssetsHeldAndUsedMethodForDeterminingFairValue
The amount of impairment recognized is the difference between the carrying value of the asset group and its fair value. To determine fair value, the Company used Level 3 inputs in its discounted cash flows analysis.
CY2024Q1 us-gaap Impaired Long Lived Assets Held And Used Asset Description
ImpairedLongLivedAssetsHeldAndUsedAssetDescription
Assumptions included the amount and timing of estimated future cash flows and assumed discount rates.
CY2024Q1 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
52100000
CY2024Q1 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
42900000
CY2024Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
48900000
CY2024Q1 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
3100000
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.373
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.823
CY2024Q1 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
700000
CY2024Q1 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
300000
CY2024Q1 us-gaap Income Tax Examination Increase Decrease In Liability From Prior Year
IncomeTaxExaminationIncreaseDecreaseInLiabilityFromPriorYear
-500000
CY2024Q1 us-gaap Income Tax Holiday Description
IncomeTaxHolidayDescription
The Company has been granted “Tax Holidays” as an incentive to attract foreign investment by the governments of the Philippines and Honduras. Generally, a Tax Holiday is an agreement between the Company and a foreign government under which the Company receives certain tax benefits in that country, such as exemption from taxation on profits derived from export-related activities. In the Philippines, the Company has been granted multiple agreements under local laws which result in an overall reduced tax rate. These incentives have varying benefit year over year and expire at various times beginning in 2031.
CY2024Q1 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
700000
CY2023Q1 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
700000
CY2024Q1 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.02
CY2023Q1 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.01
CY2024Q1 ttec Contract With Customer Revenue Recognized
ContractWithCustomerRevenueRecognized
57900000
CY2023Q1 ttec Contract With Customer Revenue Recognized
ContractWithCustomerRevenueRecognized
76200000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
354900000
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P5Y
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47432000
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47234000
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
150000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
143000
CY2024Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
5000
CY2023Q1 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
24000
CY2024Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
155000
CY2023Q1 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
167000
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47587000
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47401000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
5812000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
4154000
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
0001558370-24-007368-index-headers.html Edgar Link pending
0001558370-24-007368-index.html Edgar Link pending
0001558370-24-007368.txt Edgar Link pending
0001558370-24-007368-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R47.htm Edgar Link pending
R48.htm Edgar Link pending
R49.htm Edgar Link pending
R5.htm Edgar Link pending
R50.htm Edgar Link pending
R51.htm Edgar Link pending
R52.htm Edgar Link pending
R53.htm Edgar Link pending
R54.htm Edgar Link pending
R55.htm Edgar Link pending
R56.htm Edgar Link pending
R57.htm Edgar Link pending
R58.htm Edgar Link pending
R59.htm Edgar Link pending
R6.htm Edgar Link pending
R60.htm Edgar Link pending
R61.htm Edgar Link pending
R62.htm Edgar Link pending
R63.htm Edgar Link pending
R64.htm Edgar Link pending
R65.htm Edgar Link pending
R66.htm Edgar Link pending
R67.htm Edgar Link pending
R68.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
ttec-20240331.xsd Edgar Link pending
ttec-20240331x10q.htm Edgar Link pending
ttec-20240331xex10d29.htm Edgar Link pending
ttec-20240331xex10d29001.jpg Edgar Link pending
ttec-20240331xex10d30.htm Edgar Link pending
ttec-20240331xex10d30001.jpg Edgar Link pending
ttec-20240331xex31d1.htm Edgar Link pending
ttec-20240331xex31d2.htm Edgar Link pending
ttec-20240331xex32d1.htm Edgar Link pending
ttec-20240331xex32d2.htm Edgar Link pending
ttec-20240331_lab.xml Edgar Link unprocessable
ttec-20240331_def.xml Edgar Link unprocessable
ttec-20240331_pre.xml Edgar Link unprocessable
ttec-20240331x10q_htm.xml Edgar Link completed
ttec-20240331_cal.xml Edgar Link unprocessable