$TTEC
TTEC Holdings, Inc.

2024 Q4 Form 10-Q Financial Statement

#000155837024014654 Filed on November 06, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue $529.4M
YoY Change -12.19%
Cost Of Revenue $415.2M
YoY Change -13.44%
Gross Profit $114.2M
YoY Change -7.38%
Gross Profit Margin 21.57%
Selling, General & Admin $71.58M
YoY Change 7.19%
% of Gross Profit 62.68%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $24.04M
YoY Change -6.09%
% of Gross Profit 21.05%
Operating Expenses $71.58M
YoY Change 7.19%
Operating Profit $12.89M
YoY Change -49.23%
Interest Expense -$21.42M
YoY Change -205.38%
% of Operating Profit -166.2%
Other Income/Expense, Net -$22.46M
YoY Change 22.76%
Pretax Income -$9.573M
YoY Change -235.02%
Income Tax $9.395M
% Of Pretax Income
Net Earnings -$21.12M
YoY Change 1280.52%
Net Earnings / Revenue -3.99%
Basic Earnings Per Share -$0.44
Diluted Earnings Per Share -$0.44
COMMON SHARES
Basic Shares Outstanding 47.73M 47.72M
Diluted Shares Outstanding 47.86M

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $96.93M
YoY Change -36.06%
Cash & Equivalents $96.93M
Short-Term Investments
Other Short-Term Assets $105.4M
YoY Change -11.47%
Inventory
Prepaid Expenses
Receivables $430.1M
Other Receivables $20.69M
Total Short-Term Assets $653.1M
YoY Change -1.37%
LONG-TERM ASSETS
Property, Plant & Equipment $246.6M
YoY Change -20.98%
Goodwill $575.1M
YoY Change -28.68%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $101.8M
YoY Change 5.25%
Total Long-Term Assets $1.173B
YoY Change -22.1%
TOTAL ASSETS
Total Short-Term Assets $653.1M
Total Long-Term Assets $1.173B
Total Assets $1.826B
YoY Change -15.77%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $82.26M
YoY Change -22.04%
Accrued Expenses $26.12M
YoY Change -51.61%
Deferred Revenue $70.83M
YoY Change -14.17%
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $338.7M
YoY Change -19.9%
LONG-TERM LIABILITIES
Long-Term Debt $1.025B
YoY Change 6.33%
Other Long-Term Liabilities $72.59M
YoY Change 3.92%
Total Long-Term Liabilities $1.193B
YoY Change 4.8%
TOTAL LIABILITIES
Total Short-Term Liabilities $338.7M
Total Long-Term Liabilities $1.193B
Total Liabilities $1.531B
YoY Change -1.89%
SHAREHOLDERS EQUITY
Retained Earnings $544.6M
YoY Change -38.13%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $277.3M
YoY Change
Total Liabilities & Shareholders Equity $1.826B
YoY Change -15.77%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$21.12M
YoY Change 1280.52%
Depreciation, Depletion And Amortization $24.04M
YoY Change -6.09%
Cash From Operating Activities -$91.38M
YoY Change 188.26%
INVESTING ACTIVITIES
Capital Expenditures $8.783M
YoY Change -59.53%
Acquisitions
YoY Change
Other Investing Activities $30.00K
YoY Change -85.0%
Cash From Investing Activities -$8.753M
YoY Change -59.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 90.49M
YoY Change 108.03%
NET CHANGE
Cash From Operating Activities -91.38M
Cash From Investing Activities -8.753M
Cash From Financing Activities 90.49M
Net Change In Cash -9.636M
YoY Change -1.67%
FREE CASH FLOW
Cash From Operating Activities -$91.38M
Capital Expenditures $8.783M
Free Cash Flow -$100.2M
YoY Change 87.57%

Facts In Submission

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<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 1982, 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 September 30, 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 third 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 51,600 customer care associates, consultants, technologists, and CX professionals.</p>
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NumberOfClients
750
CY2024Q3 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
22
CY2024Q3 dei Entity Number Of Employees
EntityNumberOfEmployees
51600
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>
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
CY2024Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
96929000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
172747000
CY2024Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
96929000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
173905000
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, but in light of recent economic headwinds the Company has monitored its collection processes to reduce its credit risk. 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>
CY2024Q3 us-gaap Assets Held For Sale Not Part Of Disposal Group Other
AssetsHeldForSaleNotPartOfDisposalGroupOther
29600000
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
529427000
CY2024Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
24042000
CY2024Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
12889000
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
602956000
CY2023Q3 us-gaap Depreciation And Amortization
DepreciationAndAmortization
25595000
CY2023Q3 us-gaap Operating Income Loss
OperatingIncomeLoss
25388000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1640150000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
74258000
us-gaap Operating Income Loss
OperatingIncomeLoss
-188813000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1836636000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
76368000
us-gaap Operating Income Loss
OperatingIncomeLoss
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CY2024Q3 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
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CY2023Q3 us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
21768000
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
36465000
us-gaap Segment Expenditure Addition To Long Lived Assets
SegmentExpenditureAdditionToLongLivedAssets
54722000
CY2024Q3 us-gaap Assets
Assets
1826290000
CY2023Q4 us-gaap Assets
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2185598000
CY2024Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
602956000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
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CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
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CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
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CY2024Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
100000
CY2023Q3 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-27000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
2744000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
1677000
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
397000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
183000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
553000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2702000
CY2024Q3 ttec Effect Of Foreign Currency Allowance For Doubtful Accounts
EffectOfForeignCurrencyAllowanceForDoubtfulAccounts
301000
CY2023Q3 ttec Effect Of Foreign Currency Allowance For Doubtful Accounts
EffectOfForeignCurrencyAllowanceForDoubtfulAccounts
-1000
ttec Effect Of Foreign Currency Allowance For Doubtful Accounts
EffectOfForeignCurrencyAllowanceForDoubtfulAccounts
322000
ttec Effect Of Foreign Currency Allowance For Doubtful Accounts
EffectOfForeignCurrencyAllowanceForDoubtfulAccounts
3000
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4761000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2502000
CY2024Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
4761000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
2502000
CY2024Q3 us-gaap Trade Receivables Held For Sale Amount
TradeReceivablesHeldForSaleAmount
0
CY2023Q4 us-gaap Trade Receivables Held For Sale Amount
TradeReceivablesHeldForSaleAmount
99994000
CY2024Q3 us-gaap Restricted Cash Current
RestrictedCashCurrent
0
CY2023Q4 us-gaap Restricted Cash Current
RestrictedCashCurrent
1158000
CY2023Q4 us-gaap Goodwill
Goodwill
808988000
us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
233532000
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-360000
CY2024Q3 us-gaap Goodwill
Goodwill
575096000
CY2024Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
37500000
CY2024Q2 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
-470000
CY2023Q2 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
7164000
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
CY2024Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
3514000
CY2023Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-1786000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
-1801000
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
6312000
CY2024Q3 ttec Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetOfTax
504000
CY2023Q3 ttec Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetOfTax
989000
ttec Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetOfTax
1974000
ttec Cash Flow Hedge Gain Loss Reclassified To Earnings Net Of Tax
CashFlowHedgeGainLossReclassifiedToEarningsNetOfTax
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CY2024Q3 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
2540000
CY2023Q3 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
4389000
CY2024Q3 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
2540000
CY2023Q3 us-gaap Aoci Loss Cash Flow Hedge Cumulative Gain Loss After Tax
AociLossCashFlowHedgeCumulativeGainLossAfterTax
4389000
CY2024Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
1025000000.0
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
995000000.0
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.078
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
1496000
ttec Purchase Price Payable Acquired During Period
PurchasePricePayableAcquiredDuringPeriod
0
ttec Purchase Price Payable Payments During Period
PurchasePricePayablePaymentsDuringPeriod
0
ttec Contingent Consideration Payable Imputed Interest Expense And Other Adjustments
ContingentConsiderationPayableImputedInterestExpenseAndOtherAdjustments
1496000
CY2024Q3 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
0
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.
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.
CY2024 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.262
us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.264
CY2024Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
85800000
CY2024Q3 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
ValuationAllowanceDeferredTaxAssetChangeInAmount
81100000
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.
CY2024Q3 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
700000
CY2023Q3 us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
800000
CY2024Q3 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.02
CY2023Q3 us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.02
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
2100000
us-gaap Income Tax Holiday Aggregate Dollar Amount
IncomeTaxHolidayAggregateDollarAmount
1800000
us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.04
us-gaap Income Tax Holiday Income Tax Benefits Per Share
IncomeTaxHolidayIncomeTaxBenefitsPerShare
0.04
CY2024Q4 us-gaap Current Foreign Tax Expense Benefit
CurrentForeignTaxExpenseBenefit
10400000
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.
CY2024Q3 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
1025000000.0
CY2023Q4 us-gaap Long Term Line Of Credit
LongTermLineOfCredit
995000000.0
CY2024Q3 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
1047300000
CY2023Q3 us-gaap Line Of Credit Facility Average Outstanding Amount
LineOfCreditFacilityAverageOutstandingAmount
1057600000
CY2024Q3 us-gaap Line Of Credit Facility Remaining Borrowing Capacity
LineOfCreditFacilityRemainingBorrowingCapacity
140000000
CY2024Q3 us-gaap Letters Of Credit Outstanding Amount
LettersOfCreditOutstandingAmount
200000
CY2024Q3 ttec Letters Of Credit Issued Outside Line Of Credit Facility
LettersOfCreditIssuedOutsideLineOfCreditFacility
300000
ttec Contract With Customer Revenue Recognized
ContractWithCustomerRevenueRecognized
213600000
ttec Contract With Customer Revenue Recognized
ContractWithCustomerRevenueRecognized
245800000
CY2024Q3 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
435200000
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P5Y
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.63
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q3 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.23
CY2024Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47723000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47415000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47573000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
47305000
CY2024Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
137000
CY2023Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
73000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
43000
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
104000
CY2024Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0
CY2023Q3 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
2000
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
8000
CY2024Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
137000
CY2023Q3 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
73000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
45000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
112000
CY2024Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47860000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47488000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47618000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
47417000
CY2024Q3 us-gaap Share Based Compensation
ShareBasedCompensation
4333000
CY2023Q3 us-gaap Share Based Compensation
ShareBasedCompensation
6608000
us-gaap Share Based Compensation
ShareBasedCompensation
15249000
us-gaap Share Based Compensation
ShareBasedCompensation
16410000
CY2024Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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