Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Oct. 19, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Trading Symbol | SYKE | |
Entity Registrant Name | SYKES ENTERPRISES INC | |
Entity Central Index Key | 1,010,612 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 42,897,526 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 328,166 | $ 266,675 |
Receivables, net | 342,640 | 318,558 |
Prepaid expenses | 20,848 | 21,973 |
Other current assets | 16,930 | 16,030 |
Total current assets | 708,584 | 623,236 |
Property and equipment, net | 159,959 | 156,214 |
Goodwill, net | 269,028 | 265,404 |
Intangibles, net | 145,543 | 153,055 |
Deferred charges and other assets | 29,566 | 38,494 |
Total assets | 1,312,680 | 1,236,403 |
Current liabilities: | ||
Accounts payable | 26,851 | 29,163 |
Accrued employee compensation and benefits | 106,681 | 92,552 |
Income taxes payable | 1,252 | 4,487 |
Deferred revenue | 43,330 | 38,736 |
Other accrued expenses and current liabilities | 37,330 | 37,919 |
Total current liabilities | 215,444 | 202,857 |
Deferred grants | 3,381 | 3,761 |
Long-term debt | 267,000 | 267,000 |
Long-term income tax liabilities | 2,578 | 19,326 |
Other long-term liabilities | 21,824 | 18,937 |
Total liabilities | 510,227 | 511,881 |
Commitments and loss contingency (Note 14) | ||
Shareholders' equity: | ||
Preferred stock, $0.01 par value per share, 10,000 shares authorized; no shares issued and outstanding | ||
Common stock, $0.01 par value per share, 200,000 shares authorized; 42,895 and 42,895 shares issued, respectively | 429 | 429 |
Additional paid-in capital | 279,271 | 281,357 |
Retained earnings | 563,879 | 518,611 |
Accumulated other comprehensive income (loss) | (38,997) | (67,027) |
Treasury stock at cost: 121 and 362 shares, respectively | (2,129) | (8,848) |
Total shareholders' equity | 802,453 | 724,522 |
Total liabilities and shareholders' equity | $ 1,312,680 | $ 1,236,403 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 42,895,000 | 42,895,000 |
Treasury stock, shares | 121,000 | 362,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Income Statement [Abstract] | ||||
Revenues | $ 407,309 | $ 385,743 | $ 1,166,761 | $ 1,070,891 |
Operating expenses: | ||||
Direct salaries and related costs | 267,516 | 249,859 | 763,324 | 694,856 |
General and administrative | 93,364 | 87,955 | 277,664 | 262,800 |
Depreciation, net | 14,227 | 13,004 | 41,395 | 35,748 |
Amortization of intangibles | 5,293 | 5,254 | 15,774 | 14,144 |
Impairment of long-lived assets | 680 | 5,071 | ||
Total operating expenses | 381,080 | 356,072 | 1,103,228 | 1,007,548 |
Income from operations | 26,229 | 29,671 | 63,533 | 63,343 |
Other income (expense): | ||||
Interest income | 169 | 135 | 468 | 429 |
Interest (expense) | (2,021) | (1,578) | (5,585) | (3,967) |
Other income (expense), net | 64 | 981 | 1,747 | 2,601 |
Total other income (expense), net | (1,788) | (462) | (3,370) | (937) |
Income before income taxes | 24,441 | 29,209 | 60,163 | 62,406 |
Income taxes | 2,746 | 7,939 | 10,911 | 18,044 |
Net income | $ 21,695 | $ 21,270 | $ 49,252 | $ 44,362 |
Net income per common share: | ||||
Basic | $ 0.52 | $ 0.51 | $ 1.18 | $ 1.06 |
Diluted | $ 0.52 | $ 0.50 | $ 1.17 | $ 1.05 |
Weighted average common shares outstanding: | ||||
Basic | 41,879 | 41,938 | 41,800 | 41,873 |
Diluted | 42,033 | 42,224 | 42,006 | 42,233 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 21,695 | $ 21,270 | $ 49,252 | $ 44,362 |
Other comprehensive income (loss), net of taxes: | ||||
Foreign currency translation gain (loss), net of taxes | 11,502 | (163) | 31,884 | 4,137 |
Unrealized gain (loss) on net investment hedges, net of taxes | (1,916) | (607) | (5,220) | (1,040) |
Unrealized actuarial gain (loss) related to pension liability, net of taxes | (19) | (33) | (58) | (59) |
Unrealized gain (loss) on cash flow hedging instruments, net of taxes | 1,326 | (1,322) | 1,462 | (888) |
Unrealized gain (loss) on postretirement obligation, net of taxes | (13) | 61 | (38) | 34 |
Other comprehensive income (loss), net of taxes | 10,880 | (2,064) | 28,030 | 2,184 |
Comprehensive income (loss) | $ 32,575 | $ 19,206 | $ 77,282 | $ 46,546 |
Condensed Consolidated Stateme6
Condensed Consolidated Statement of Changes in Shareholders' Equity - 9 months ended Sep. 30, 2017 - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Beginning Balance at Dec. 31, 2016 | $ 724,522 | $ 429 | $ 281,357 | $ 518,611 | $ (67,027) | $ (8,848) |
Beginning Balance, shares at Dec. 31, 2016 | 42,895 | |||||
Stock-based compensation expense | 4,429 | 4,429 | ||||
Issuance of common stock under equity award plans, net of shares withheld for employee taxes | (3,859) | $ 3 | (3,553) | (309) | ||
Issuance of common stock under equity award plans, net of shares withheld for employee taxes, shares | 250 | |||||
Retirement of treasury stock | $ (3) | (3,194) | (3,831) | 7,028 | ||
Retirement of treasury stock, shares | (250) | |||||
Comprehensive income (loss) | 77,282 | 49,252 | 28,030 | |||
Ending Balance at Sep. 30, 2017 | 802,453 | $ 429 | 279,271 | 563,879 | $ (38,997) | $ (2,129) |
Ending Balance, shares at Sep. 30, 2017 | 42,895 | |||||
Cumulative effect of accounting change | Accounting Standards Update 2016-09 [Member] | $ 79 | $ 232 | $ (153) |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 49,252 | $ 44,362 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 41,778 | 36,208 |
Amortization of intangibles | 15,774 | 14,144 |
Amortization of deferred grants | (550) | (659) |
Impairment losses | 5,071 | |
Unrealized foreign currency transaction (gains) losses, net | (1,714) | (2,359) |
Stock-based compensation expense | 4,429 | 7,836 |
Deferred income tax provision (benefit) | 7,395 | (2,697) |
Unrealized (gains) losses on financial instruments, net | 126 | 547 |
Amortization of deferred loan fees | 201 | 201 |
Imputed interest expense and fair value adjustments to contingent consideration | (529) | (2,082) |
Other | 173 | (50) |
Changes in assets and liabilities, net of acquisitions: | ||
Receivables | (3,844) | (21,717) |
Prepaid expenses | 1,048 | (1,049) |
Other current assets | (4,523) | (2,562) |
Deferred charges and other assets | (667) | (919) |
Accounts payable | 2,937 | (391) |
Income taxes receivable / payable | (7,285) | 5,356 |
Accrued employee compensation and benefits | 12,038 | 17,538 |
Other accrued expenses and current liabilities | (697) | 7,304 |
Deferred revenue | 2,476 | 5,231 |
Other long-term liabilities | (4,515) | 1,127 |
Net cash provided by operating activities | 118,374 | 105,369 |
Cash flows from investing activities: | ||
Capital expenditures | (48,430) | (59,348) |
Cash paid for business acquisitions, net of cash acquired | (9,075) | (205,324) |
Net investment hedge settlement | (5,122) | 10,339 |
Purchase of intangible assets | (4,825) | (10) |
Investment in equity method investees | (5,012) | |
Other | 6 | (43) |
Net cash (used for) investing activities | (72,458) | (254,386) |
Cash flows from financing activities: | ||
Payments of long-term debt | (14,000) | |
Proceeds from issuance of long-term debt | 216,000 | |
Cash paid for repurchase of common stock | (4,117) | |
Proceeds from grants | 139 | 151 |
Shares repurchased for tax withholding on equity awards | (3,859) | (4,916) |
Payments of contingent consideration related to acquisitions | (4,760) | |
Net cash provided by (used for) financing activities | (8,480) | 193,118 |
Effects of exchange rates on cash and cash equivalents | 24,055 | 3,864 |
Net increase in cash and cash equivalents | 61,491 | 47,965 |
Cash and cash equivalents - beginning | 266,675 | 235,358 |
Cash and cash equivalents - ending | 328,166 | 283,323 |
Supplemental disclosures of cash flow information: | ||
Cash paid during period for interest | 4,852 | 2,680 |
Cash paid during period for income taxes | 21,169 | 14,050 |
Non-cash transactions: | ||
Property and equipment additions in accounts payable | 5,165 | 7,070 |
Unrealized gain (loss) on postretirement obligation in accumulated other comprehensive income (loss) | (38) | $ 34 |
Shares repurchased for tax withholding on equity awards included in current liabilities | $ 123 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Overview and Basis of Presentation | Note 1. Overview and Basis of Presentation Business — end-to-end up-sell/cross-sell e-mail, Acquisitions On May 31, 2017, the Company completed the acquisition of certain assets of a Global 2000 telecommunications services provider, pursuant to a definitive Asset Purchase Agreement (the “Purchase Agreement”) entered into on April 24, 2017 (the “Telecommunications Asset acquisition”). The Company has reflected the Telecommunications Asset acquisition’s results in the Condensed Consolidated Financial Statements since May 31, 2017. See Note 2, Acquisitions, for additional information on the acquisition. On April 1, 2016, the Company completed the acquisition of Clear Link Holdings LLC (“Clearlink”), pursuant to a definitive Agreement and Plan of Merger (the “Merger Agreement”), dated March 6, 2016. The Company has reflected Clearlink’s results in the Condensed Consolidated Financial Statements since April 1, 2016. See Note 2, Acquisitions, for additional information on the acquisition. Basis of Presentation — 10-Q S-X. 10-K Principles of Consolidation — Use of Estimates — Subsequent Events — Investments in Equity Method Investees The Company evaluates an equity method investment for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than-temporary is recognized in the period identified. In July 2017, the Company made a strategic investment of $10.0 million in XSell Technologies, Inc. (“XSell”) for 32.8% of XSell’s preferred stock. The Company plans to incorporate XSell’s machine learning and artificial intelligence algorithms into its business. The Company believes this will increase the sales performance of its agents, to drive revenue for its clients, improve the experience of the Company’s clients’ end customers and enhance brand loyalty, reduce the cost of customer care and leverage analytics and machine learning to source the best agents and improve their performance. The Company’s investment in XSell of $10.0 million was included in “Other assets” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. The Company paid $5.0 million in July 2017 with the remaining $5.0 million included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. The Company’s proportionate share of XSell’s income (loss) of less than $(0.1) million was included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2017. Customer-Acquisition Advertising Costs Reclassifications New Accounting Standards Not Yet Adopted Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”). 2014-09 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date 2015-14”). 2014-09 2015-14 2014-09 The Company’s implementation team has completed its evaluation of the Company’s revenue streams, analyzed the Company’s contracts to identify key provisions impacted by ASC 606, assessed the applicable accounting, and reviewed existing accounting policies and internal controls. The Company is in the process of implementing appropriate changes to its business processes, systems and controls to support recognition and disclosure under ASC 606. The Company will adopt ASC 606 using the modified retrospective approach applied to those contracts which were not completed as of January 1, 2018. The adoption will result in a cumulative effect adjustment to opening retained earnings as of January 1, 2018, primarily related to deferred revenue associated with the Company’s customer engagement solutions and services. The adoption of these amendments will require expanded qualitative and quantitative disclosures about the Company’s contracts with its customers. Based on the results of its assessment, the Company does not expect the adoption of ASC 606 on January 1, 2018 to have a material impact on its timing of recognition of revenue, financial condition, results of operations and cash flows. The impact to the Company’s results is not expected to be material because the analysis of its contracts under ASC 606 supports the recognition of revenue over time under the output method for the majority of its contracts, which is consistent with the Company’s current revenue recognition model. Revenue from the majority of the Company’s contracts will continue to be recognized over time because of the continuous transfer of control to the customer. In addition, the number of the Company’s performance obligations, which are classified as stand-ready performance obligations under ASC 606, is not materially different from those under the existing standard. Lastly, the accounting for the estimate of variable consideration is not expected to be materially different compared to the Company’s current practice. The immaterial changes as a result of the Company’s adoption of ASC 606 relate to changes in estimating variable consideration with respect to penalty and holdback provisions for failure to meet specified minimum service levels and other performance-based contingencies, as well as the change in timing of revenue recognition associated with certain customer contracts that provide additional fees upon renewal. Financial Instruments In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) 2016-01”). Fair Value Measurements 2016-01 Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) 2016-02”). Leases 2016-02 Financial Instruments – Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments 2016-13”). Statement of Cash Flows In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments 2016-15”). 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash (A Consensus of the FASB Emerging Issues Task Force 2016-18”). 2016-18 Income Taxes In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) – Intra-Entity Transfers of Assets Other than Inventory 2016-16”). 2016-16 Business Combinations In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business 2017-01”). 2017-01 Retirement Benefits In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost 2017-07”). 2017-07 Derivatives and Hedging In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedge Activities 2017-12”). 2017-12 New Accounting Standards Recently Adopted Goodwill In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment 2017-04”). 2017-04 Stock Compensation In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718) – Scope of Modification Accounting 2017-09”). 2017-09 In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) – Improvements to Employee Share-Based Payment Accounting 2016-09”). 2016-09 As a result of the adoption of ASU 2016-09, paid-in Derivatives and Hedging In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) – Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships 2016-05”). 2016-05 |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2017 | |
Business Combinations [Abstract] | |
Acquisitions | Note 2. Acquisitions Telecommunications Asset Acquisition On April 24, 2017, the Company entered into a Purchase Agreement to acquire certain assets from a Global 2000 telecommunications services provider. The aggregate purchase price of $7.5 million was paid on May 31, 2017, using cash on hand, resulting in $6.0 million of property and equipment and $1.5 million of customer relationship intangibles. The Purchase Agreement contains customary representations and warranties, indemnification obligations and covenants. The Telecommunications Asset acquisition was completed to strengthen and create new partnerships for the Company and expand its geographic footprint in North America. The results of the Telecommunications Assets’ operations have been included in the Company’s consolidated financial statements since its acquisition on May 31, 2017. The Company accounted for the Telecommunications Asset acquisition in accordance with ASC 805, Business Combinations, Clearlink On April 1, 2016, the Company acquired 100% of the outstanding membership units of Clearlink through a merger of Clearlink with and into a subsidiary of the Company (the “Merger”). Clearlink, with its operations located in the United States, is an inbound demand generation and sales conversion platform serving numerous Fortune 500 business-to-consumer business-to-business 15-year The Clearlink purchase price totaled $207.9 million, consisting of the following (in thousands): Total Cash (1) $ 209,186 Working capital adjustment (1,278 ) $ 207,908 (1) Approximately $2.6 million of the purchase price was placed in an escrow account as security for the indemnification obligations of Clearlink’s members under the merger agreement. The escrow was released pursuant to the terms of the escrow agreement, but the Company subsequently asserted a claim of approximately $0.4 million against the Clearlink members. This claim has been resolved by the parties for $0.2 million, which is due to the Company prior to December 31, 2017. The following table summarizes the final purchase price allocation of the fair values of the assets acquired and liabilities assumed, all included in the Americas segment (in thousands): Amount Cash and cash equivalents $ 2,584 Receivables (1) 16,801 Prepaid expenses 1,553 Total current assets 20,938 Property and equipment 12,869 Goodwill 70,563 Intangibles 121,400 Deferred charges and other assets 229 Accounts payable (3,564 ) Accrued employee compensation and benefits (1,610 ) Income taxes payable (340 ) Deferred revenue (4,620 ) Other accrued expenses and current liabilities (6,324 ) Total current liabilities (16,458 ) Other long-term liabilities (1,633 ) $ 207,908 (1) The Company accounted for the Clearlink acquisition in accordance with ASC 805, Business Combinations 2015-16, Business Combinations (Topic 805) Simplifying the Accounting for Measurement-Period Adjustments Fair values are based on management’s estimates and assumptions including variations of the income approach, the cost approach and the market approach. The following table presents the Company’s purchased intangible assets as of April 1, 2016, the Clearlink acquisition date (in thousands): Amount Assigned Weighted Average Customer relationships $ 63,800 13 Trade name 2,400 7 Non-compete 1,800 3 Proprietary software 700 5 Indefinite-lived domain names 52,700 N/A $ 121,400 7 The amount of Clearlink’s revenues and net income since the April 1, 2016 acquisition date, included in the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016, were as follows (in thousands): For the Three September 30, 2016 From April 1, 2016 Revenues $ 45,494 $ 81,856 Net income $ 3,942 $ 4,733 The following table presents the unaudited pro forma combined revenues and net earnings as if Clearlink had been included in the consolidated results of the Company for the entire three and nine month periods ended September 30, 2016. The pro forma financial information is not indicative of the results of operations that would have been achieved if the acquisition and related borrowings had taken place on January 1, 2016 (in thousands): Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Revenues $ 385,743 $ 1,104,720 Net income $ 21,277 $ 47,172 Net income per common share: Basic $ 0.51 $ 1.13 Diluted $ 0.50 $ 1.12 These amounts were calculated to reflect the additional depreciation, amortization, interest expense and rent expense that would have been incurred assuming the fair value adjustments and borrowings occurred on January 1, 2016, together with the consequential tax effects. In addition, these amounts exclude costs incurred which were directly attributable to the acquisition, and which did not have a continuing impact on the combined companies’ operating results. Included in these costs are advisory and legal costs, net of the tax effects. Merger and integration costs associated with Clearlink included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations were as follows (none in 2017) (in thousands): Three Months Ended Nine Months Ended Severance costs: Americas $ 162 $ 162 Transaction and integration costs: Americas - 29 Other 39 4,415 39 4,444 $ 201 $ 4,606 |
Costs Associated with Exit or D
Costs Associated with Exit or Disposal Activities | 9 Months Ended |
Sep. 30, 2017 | |
Restructuring and Related Activities [Abstract] | |
Costs Associated with Exit or Disposal Activities | Note 3. Costs Associated with Exit or Disposal Activities During 2011 and 2010, the Company announced several initiatives to streamline excess capacity through targeted seat reductions in the Americas (“Exit Plans”) in an on-going The Company paid $8.1 million in cash through December 31, 2016 under these Exit Plans for lease obligations and facility exit costs. As of December 31, 2016, there were no remaining outstanding liabilities related to the Exit Plans. The following table summarizes the accrued liability associated with the Exit Plans’ exit and disposal activities and related charges for the three and nine months ended September 30, 2016 (none in 2017) (in thousands): Three Months Ended Nine Months Ended Beginning accrual $ 319 $ 733 Cash payments (211 ) (625 ) Ending accrual $ 108 $ 108 |
Fair Value
Fair Value | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 4. Fair Value ASC 820 Fair Value Measurements and Disclosures ● Level 1 — ● Level 2 — ● Level 3 — . Fair Value of Financial Instruments — ● Cash, short-term and other investments, investments held in rabbi trust and accounts payable — ● Foreign currency forward contracts and options — ● Embedded derivatives — ● Long-term debt — ● Contingent consideration — Fair Value Measurements — 820-10-20 ASC 825 Financial Instruments Determination of Fair Value — If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency exchange rates, etc. Assets or liabilities valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. The following section describes the valuation methodologies used by the Company to measure assets and liabilities at fair value on a recurring basis, including an indication of the level in the fair value hierarchy in which each asset or liability is generally classified. Foreign Currency Forward Contracts and Options Embedded Derivatives Investments Held in Rabbi Trust Contingent Consideration — The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following as of September 30, 2017 (in thousands): Fair Value Measurements at September 30, 2017 Using: Quoted Prices Significant in Active Other Significant Markets For Observable Unobservable Balance at Identical Assets Inputs Inputs September 30, 2017 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 815 $ - $ 815 $ - Embedded derivatives (1) 41 - - 41 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 7,849 7,849 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 3,427 3,427 - - $ 12,132 $ 11,276 $ 815 $ 41 Liabilities: Foreign currency forward and option contracts (1) $ 916 $ - $ 916 $ - Embedded derivatives (1) 341 - - 341 Contingent consideration (3) 1,000 - - 1,000 $ 2,257 $ - $ 916 $ 1,341 The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following as of December 31, 2016 (in thousands): Fair Value Measurements at December 31, 2016 Using: Quoted Prices Significant in Active Other Significant Markets For Observable Unobservable Balance at Identical Assets Inputs Inputs December 31, 2016 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 3,921 $ - $ 3,921 $ - Embedded derivatives (1) 12 - - 12 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 7,470 7,470 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 1,944 1,944 - - $ 13,347 $ 9,414 $ 3,921 $ 12 Liabilities: Foreign currency forward and option contracts (1) $ 1,912 $ - $ 1,912 $ - Embedded derivatives (1) 567 - - 567 Contingent consideration (3) 6,100 - - 6,100 $ 8,579 $ - $ 1,912 $ 6,667 (1) (2) (3) Reconciliations of Fair Value Measurements Categorized within Level 3 of the Fair Value Hierarchy Embedded Derivatives in Lease Agreements A rollforward of the net asset (liability) activity in the Company’s fair value of the embedded derivatives is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Balance at the beginning of the period $ (171 ) $ 43 $ (555 ) $ - Gains (losses) recognized in “Other income (expense), net” (193 ) 131 122 176 Settlements 66 (2 ) 134 (5 ) Effect of foreign currency (2 ) 4 (1 ) 5 Balance at the end of the period $ (300 ) $ 176 $ (300 ) $ 176 Change in unrealized gains (losses) included in “Other income (expense), net” related to embedded derivatives held at the end of the period $ (193 ) $ 131 $ 122 $ 176 Contingent Consideration A rollforward of the activity in the Company’s fair value of the contingent consideration (liability) is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Balance at the beginning of the period $ (1,127 ) $ (9,696 ) $ (6,100 ) $ (6,280 ) Acquisition (1) - - - (2,779 ) Imputed interest (8 ) (207 ) (76 ) (716 ) Fair value gain (loss) adjustments (2) (96 ) 2,798 605 2,798 Settlements 232 - 4,760 - Effect of foreign currency (1 ) (87 ) (189 ) (215 ) Balance at the end of the period $ (1,000 ) $ (7,192 ) $ (1,000 ) $ (7,192 ) Change in unrealized gains (losses) included in “General and administrative” related to contingent consideration outstanding at the end of the period $ - $ 2,755 $ - $ 2,755 (1) (2) The Company recorded a fair value loss of $0.1 million and a net fair value gain of $0.6 million in “General and administrative” during the three and nine months ended September 30, 2017, respectively, to the Clearlink contingent consideration related to settlements and changes in the probability of achievement of certain revenue targets. The Company recorded a fair value gain of $2.6 million to the Qelp contingent consideration in “General and administrative” during the three and nine months ended September 30, 2016 due to the execution of an addendum to the Qelp purchase agreement, subject to which the Company agreed to pay the sellers EUR 4.0 million by June 30, 2017. The Company paid $4.4 million in May 2017 to settle the outstanding contingent consideration obligation. During the three and nine months ended September 30, 2016, the Company recorded a fair value gain of $0.2 million in “General and administrative” to the Clearlink contingent consideration due to changes in the probability of achievement of certain revenue targets. The Company accretes interest expense each period using the effective interest method until the contingent consideration reaches the estimated remaining future value of $1.0 million. Interest expense related to the contingent consideration is included in “Interest (expense)” in the accompanying Condensed Consolidated Statements of Operations. Non-Recurring Certain assets, under certain conditions, are measured at fair value on a nonrecurring basis utilizing Level 3 inputs, including goodwill, other intangible assets, other long-lived assets and equity method investments. For these assets, measurement at fair value in periods subsequent to their initial recognition would be applicable if these assets were determined to be impaired. The adjusted carrying values for assets measured at fair value on a nonrecurring basis (no liabilities) subject to the requirements of ASC 820 were not material at September 30, 2017 and December 31, 2016. The following table summarizes the total impairment losses related to nonrecurring fair value measurements of certain assets (no liabilities) subject to the requirements of ASC 820 (in thousands) (none in 2016): Total Impairment (Loss) Three Months Ended Nine Months Ended 2017 2017 Americas: Property and equipment, net $ (680 ) $ (5,071 ) As a result of the consolidation of leased space in the U.S., the Company recorded an impairment charge of $0.7 million during the three and nine months ended September 30, 2017 related to leasehold improvements which were not recoverable and equipment, furniture and fixtures that could not be redeployed to other locations. In connection with the closure of an under-utilized customer contact management center in the U.S., the Company recorded an impairment charge of $4.2 million during the nine months ended September 30, 2017 related to leasehold improvements which were not recoverable and equipment, furniture and fixtures that could not be redeployed to other locations. The Company also recorded an impairment charge of $0.2 million related to the write-down of a vacant and unused parcel of land in the U.S. to its estimated fair value during the nine months ended September 30, 2017. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 5. Goodwill and Intangible Assets Intangible Assets The following table presents the Company’s purchased intangible assets as of September 30, 2017 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 170,925 $ (90,596 ) $ 80,329 10 Trade names and trademarks 14,137 (8,367 ) 5,770 7 Non-compete 1,820 (901 ) 919 3 Content library 533 (533 ) - 2 Proprietary software 1,550 (1,060 ) 490 3 Intangible assets not subject to amortization: Domain names 58,035 - 58,035 N/A $ 247,000 $ (101,457 ) $ 145,543 6 The following table presents the Company’s purchased intangible assets as of December 31, 2016 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average (years) Intangible assets subject to amortization: Customer relationships $ 166,634 $ (75,364 ) $ 91,270 10 Trade names and trademarks 14,095 (7,083 ) 7,012 7 Non-compete 2,993 (1,643 ) 1,350 2 Content library 475 (357 ) 118 2 Proprietary software 1,550 (955 ) 595 3 Favorable lease agreement 449 (449 ) - 2 Intangible assets not subject to amortization: Domain names 52,710 - 52,710 N/A $ 238,906 $ (85,851 ) $ 153,055 6 The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to September 30, 2017, is as follows (in thousands): Years Ending December 31, Amount 2017 (remaining three months) $ 5,464 2018 15,126 2019 14,067 2020 11,380 2021 6,816 2022 5,723 2023 and thereafter 28,932 Goodwill Changes in goodwill for the nine months ended September 30, 2017 consist of the following (in thousands): January 1, 2017 Acquisition Effect of Foreign September 30, 2017 Americas $ 255,842 $ 410 $ 2,132 $ 258,384 EMEA 9,562 - 1,082 10,644 $ 265,404 $ 410 $ 3,214 $ 269,028 Changes in goodwill for the year ended December 31, 2016 consist of the following (in thousands): January 1, 2016 Acquisition (1) Effect of Foreign December 31, 2016 Americas $ 186,049 $ 70,563 $ (770 ) $ 255,842 EMEA 9,684 - (122 ) 9,562 $ 195,733 $ 70,563 $ (892 ) $ 265,404 (1) The Company performs its annual goodwill impairment test during the third quarter, or more frequently if indicators of impairment exist. For the annual goodwill impairment test, the Company elected to forgo the option to first assess qualitative factors and performed its annual quantitative goodwill impairment test as of July 31, 2017. Under ASC 350, the carrying value of assets is calculated at the reporting unit level. The quantitative assessment of goodwill includes comparing a reporting unit’s calculated fair value to its carrying value. The calculation of fair value requires significant judgments including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term rate of growth, the useful life over which cash flows will occur and determination of the Company’s weighted average cost of capital. Changes in these estimates and assumptions could materially affect the determination of fair value and/or conclusions on goodwill impairment for each reporting unit. If the fair value of the reporting unit is less than its carrying value, goodwill is considered impaired and an impairment loss is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value, not to exceed the total amount of goodwill allocated to that reporting unit. The process of evaluating the fair value of the reporting units is highly subjective and requires significant judgment and estimates as the reporting units operate in a number of markets and geographical regions. The Company considered the income and market approaches to determine its best estimates of fair value which incorporated the following significant assumptions: ● Revenue projections, including revenue growth during the forecast periods; ● EBITDA margin projections over the forecast periods; ● Estimated income tax rates; ● Estimated capital expenditures; and ● Discount rates based on various inputs, including the risks associated with the specific reporting units as well as their revenue growth and EBITDA margin assumptions. As of July 31, 2017, the Company concluded that goodwill was not impaired for all six of its reporting units with goodwill, based on generally accepted valuation techniques and the significant assumptions outlined above. While the fair values of four of the six reporting units were substantially in excess of their carrying value, the Qelp and Clearlink reporting units’ fair value exceeded the respective carrying value, although not substantially. The Qelp and Clearlink reporting units are at risk of future impairment if projected operating results are not met or other inputs into the fair value measurement change. However, as of September 30, 2017, there were no indicators of impairment related to Qelp’s $10.6 million of goodwill or Clearlink’s $71.0 million of goodwill. |
Financial Derivatives
Financial Derivatives | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | Note 6. Financial Derivatives Cash Flow Hedges Derivatives and Hedging The deferred gains (losses) and related taxes on the Company’s cash flow hedges recorded in “Accumulated other comprehensive income (loss)” (“AOCI”) in the accompanying Condensed Consolidated Balance Sheets are as follows (in thousands): September 30, 2017 December 31, 2016 Deferred gains (losses) in AOCI $ (761 ) $ (2,295 ) Tax on deferred gains (losses) in AOCI (2 ) 69 Deferred gains (losses) in AOCI, net of taxes $ (763 ) $ (2,226 ) Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (757 ) Deferred gains (losses) and other future reclassifications from AOCI will fluctuate with movements in the underlying market price of the forward contracts and options. Net Investment Hedge Non-Designated Foreign Currency Forward Contracts Embedded Derivatives The Company had the following outstanding foreign currency forward contracts and options, and embedded derivatives (in thousands): As of September 30, 2017 As of December 31, 2016 Contract Type Notional Settle Through Notional Settle Through Cash flow hedges: Options: US Dollars/Philippine Pesos $ 39,000 September 2018 $ 51,000 December 2017 Forwards: US Dollars/Philippine Pesos 3,000 June 2018 - - US Dollars/Costa Rican Colones 64,000 December 2018 45,500 December 2017 Euros/Hungarian Forints 709 December 2017 - - Euros/Romanian Leis 1,981 December 2017 - - Net investment hedges: Forwards: Euros/US Dollar - - 76,933 September 2017 Non-designated Forwards 27,468 December 2017 55,614 March 2017 Embedded derivatives 13,752 April 2030 13,234 April 2030 Master netting agreements exist with each respective counterparty to reduce credit risk by permitting net settlement of derivative positions. In the event of default by the Company or one of its counterparties, these agreements include a set-off non-defaulting Although legally enforceable master netting arrangements exist between the Company and each counterparty, the Company has elected to present the derivative assets and derivative liabilities on a gross basis in the accompanying Condensed Consolidated Balance Sheets. Additionally, the Company is not required to pledge, nor is it entitled to receive, cash collateral related to these derivative transactions. The following tables present the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets (in thousands): Derivative Assets September 30, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 538 $ - Foreign currency forward and option contracts (2) 4 - 542 - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (1) - 3,230 542 3,230 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) 273 691 Embedded derivatives (1) 8 8 Embedded derivatives (2) 33 4 Total derivative assets $ 856 $ 3,933 Derivative Liabilities September 30, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 908 $ 1,806 Foreign currency forward and option contracts (4) 8 - 916 1,806 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) - 106 Embedded derivatives (3) 167 174 Embedded derivatives (4) 174 393 Total derivative liabilities $ 1,257 $ 2,479 (1) (2) (3) (4) The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended September 30, 2017 and 2016 (in thousands): Gain (Loss) Recognized in Gain (Loss) Reclassified Gain (Loss) Recognized in September 30, September 30, September 30, 2017 2016 2017 2016 2017 2016 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ 585 $ (1,274 ) $ (766 ) $ 127 $ - $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (2,979 ) (979 ) - - - - $ (2,394 ) $ (2,253 ) $ (766 ) $ 127 $ - $ - Gain (Loss) Recognized in “Other income (expense), net” on Derivatives Three Months Ended September 30, 2017 2016 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (252 ) $ 240 Embedded derivatives (193 ) (130 ) $ (445 ) $ 110 The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the nine months ended September 30, 2017 and 2016 (in thousands): Gain (Loss) Recognized in Gain (Loss) Reclassified Gain (Loss) Recognized in September 30, September 30, September 30, 2017 2016 2017 2016 2017 2016 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (881 ) $ (843 ) $ (2,346 ) $ 77 $ - $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (8,352 ) (1,677 ) - - - - $ (9,233 ) $ (2,520 ) $ (2,346 ) $ 77 $ - $ - Gain (Loss) Recognized in “Other income (expense), net” on Derivatives Nine Months Ended September 30, 2017 2016 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (170 ) $ 1,610 Embedded derivatives 122 (176 ) $ (48 ) $ 1,434 |
Investments Held in Rabbi Trust
Investments Held in Rabbi Trust | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments Held in Rabbi Trust | Note 7. Investments Held in Rabbi Trust The Company’s investments held in rabbi trust, classified as trading securities and included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets, at fair value, consist of the following (in thousands): September 30, 2017 December 31, 2016 Cost Fair Value Cost Fair Value Mutual funds $ 8,017 $ 11,276 $ 7,257 $ 9,414 The mutual funds held in rabbi trust were 70% equity-based and 30% debt-based as of September 30, 2017. Net investment income (losses), included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net realized gains (losses) from sale of trading securities $ 13 $ - $ 162 $ - Dividend and interest income 28 7 67 26 Net unrealized holding gains (losses) 401 317 943 471 Net investment income (losses) $ 442 $ 324 $ 1,172 $ 497 |
Deferred Revenue
Deferred Revenue | 9 Months Ended |
Sep. 30, 2017 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Deferred Revenue | Note 8. Deferred Revenue Deferred revenue consists of the following (in thousands): September 30, 2017 December 31, 2016 Future service $ 30,949 $ 27,116 Estimated potential penalties and holdbacks 6,879 6,593 Estimated chargebacks 5,502 5,027 $ 43,330 $ 38,736 |
Deferred Grants
Deferred Grants | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Deferred Grants | Note 9. Deferred Grants Deferred grants, net of accumulated amortization, consist of the following (in thousands): September 30, 2017 December 31, 2016 Property grants $ 2,970 $ 3,353 Lease grants 525 502 Employment grants 45 67 Total deferred grants 3,540 3,922 Less: Lease grants - short-term (1) (114 ) (94 ) Less: Employment grants - short-term (1) (45 ) (67 ) Total long-term deferred grants $ 3,381 $ 3,761 (1) |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 10. Borrowings On May 12, 2015, the Company entered into a $440 million revolving credit facility (the “2015 Credit Agreement”) with a group of lenders and KeyBank National Association, as Lead Arranger, Sole Book Runner, Administrative Agent, Swing Line Lender and Issuing Lender (“KeyBank”). The 2015 Credit Agreement is subject to certain borrowing limitations and includes certain customary financial and restrictive covenants. The 2015 Credit Agreement includes a $200 million alternate-currency sub-facility, sub-facility sub-facility, The 2015 Credit Agreement matures on May 12, 2020, and had outstanding borrowings of $267.0 million at both September 30, 2017 and December 31, 2016, included in “Long-term debt” in the accompanying Condensed Consolidated Balance Sheets. On April 1, 2016, the Company borrowed $216.0 million under its 2015 Credit Agreement in connection with the acquisition of Clearlink. Borrowings under the 2015 Credit Agreement bear interest at the rates set forth in the 2015 Credit Agreement. In addition, the Company is required to pay certain customary fees, including a commitment fee determined quarterly based on the Company’s leverage ratio and due quarterly in arrears as calculated on the average unused amount of the 2015 Credit Agreement. The 2015 Credit Agreement is guaranteed by all of the Company’s existing and future direct and indirect material U.S. subsidiaries and secured by a pledge of 100% of the non-voting In May 2015, the Company paid an underwriting fee of $0.9 million for the 2015 Credit Agreement, which is deferred and amortized over the term of the loan, along with the deferred loan fees of $0.4 million related to the previous credit agreement. The following table presents information related to our credit agreements (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Average daily utilization $ 267,000 $ 272,000 $ 267,000 $ 207,161 Interest expense, including commitment fee (1) $ 1,772 $ 1,171 $ 4,815 $ 2,625 Weighted average interest rate (2) 2.6% 1.7% 2.4% 1.8% (1) (2) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 11. Accumulated Other Comprehensive Income (Loss) The Company presents data in the Condensed Consolidated Statements of Changes in Shareholders’ Equity in accordance with ASC 220, Comprehensive Income Foreign Unrealized Unrealized Unrealized Unrealized Total Balance at January 1, 2016 $ (58,601 ) $ 4,170 $ 1,029 $ (527 ) $ 267 $ (53,662 ) Pre-tax (13,832 ) 3,409 212 (2,313 ) (9 ) (12,533 ) Tax (provision) benefit - (1,313 ) (8 ) 72 - (1,249 ) Reclassification of (gain) loss to net income - - (52 ) 527 (58 ) 417 Foreign currency translation 40 - (56 ) 16 - - Balance at December 31, 2016 (72,393 ) 6,266 1,125 (2,225 ) 200 (67,027 ) Pre-tax 31,922 (8,352 ) - (881 ) (1 ) 22,688 Tax (provision) benefit - 3,132 - 15 - 3,147 Reclassification of (gain) loss to net income - - (31 ) 2,263 (37 ) 2,195 Foreign currency translation (38 ) - (27 ) 65 - - Balance at September 30, 2017 $ (40,509 ) $ 1,046 $ 1,067 $ (763 ) $ 162 $ (38,997 ) The following table summarizes the amounts reclassified to net income from accumulated other comprehensive income (loss) and the associated line item in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Statements of Operations Location 2017 2016 2017 2016 Actuarial Gain (Loss) Related to Pension Liability: (1) Pre-tax $ 10 $ 10 $ 31 $ 32 Direct salaries and related costs Tax (provision) benefit - - - - Income taxes Reclassification to net income 10 10 31 32 Gain (Loss) on Cash Flow Hedging Instruments: (2) Pre-tax (766 ) 127 (2,346 ) 77 Revenues Tax (provision) benefit 25 (17 ) 83 5 Income taxes Reclassification to net income (741 ) 110 (2,263 ) 82 Gain (Loss) on Post Retirement Obligation: (1),(3) Reclassification to net income 12 13 37 40 General and administrative Total reclassification of gain (loss) to net income $ (719 ) $ 133 $ (2,195 ) $ 154 (1) (2) (3) As discussed in Note 12, Income Taxes, earnings associated with the Company’s investments in its foreign subsidiaries are considered to be indefinitely reinvested and no provision for income taxes on those earnings or translation adjustments have been provided. |
Income Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 12. Income Taxes The Company’s effective tax rate was 11.2% and 27.2% for the three months ended September 30, 2017 and 2016, respectively. The decrease in the effective tax rates is due to several significant factors, including the recognition of a $0.8 million previously unrecognized tax benefit, inclusive of penalties and interest, arising from a favorable tax audit settlement and statute of limitation expirations. Additionally, the Company recognized a $0.8 million benefit related to the increase in anticipated tax credits and reductions in estimated non-deferred The Company’s effective tax rate was 18.1% and 28.9% for the nine months ended September 30, 2017 and 2016, respectively. The decrease in the effective tax rates is due to several significant factors, including the recognition of $2.0 million of previously unrecognized tax benefits, inclusive of penalties and interest, of which $1.2 million arose from the effective settlement of the Canadian Revenue Agency audit and $0.8 million arose from other favorable audit settlements and statute of limitation expirations. Additionally, the Company recognized a $0.8 million benefit related to the increase in anticipated tax credits and reductions in estimated non-deferred 2016-09 Earnings associated with the investments in the Company’s foreign subsidiaries are considered to be indefinitely reinvested outside of the U.S. Therefore, a U.S. provision for income taxes on those earnings or translation adjustments has not been recorded, as permitted by criterion outlined in ASC 740, Income Taxes . The Company received assessments for the Canadian 2003-2009 audit. Requests for Competent Authority Assistance were filed with both the Canadian Revenue Agency and the U.S. Internal Revenue Service and the Company paid mandatory security deposits to Canada as part of this process. The total amount of the deposits was $13.8 million as of December 31, 2016 (none at September 30, 2017) and was included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. As of June 30, 2017, the Company determined that all material aspects of the Canadian audit were effectively settled pursuant to ASC 740. As a result, the Company recognized a net income tax benefit of $1.2 million and the deposits were applied against the anticipated liability. With the effective settlement of the Canadian audit, the Company has no significant tax jurisdictions under audit; however, the Company is currently under audit in several tax jurisdictions. The Company believes it is adequately reserved for the remaining audits and their resolution is not expected to have a material impact on its financial condition and results of operations. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 13. Earnings Per Share Basic earnings per share are based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the respective periods and the further dilutive effect, if any, from stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust using the treasury stock method. The numbers of shares used in the earnings per share computation are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Basic: Weighted average common shares outstanding 41,879 41,938 41,800 41,873 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 154 286 206 360 Total weighted average diluted shares outstanding 42,033 42,224 42,006 42,233 Anti-dilutive shares excluded from the diluted earnings per share calculation 14 23 16 22 On August 18, 2011, the Company’s Board of Directors (the “Board”) authorized the Company to purchase up to 5.0 million shares of its outstanding common stock (the “2011 Share Repurchase Program”). On March 16, 2016, the Board authorized an increase of 5.0 million shares to the 2011 Share Repurchase Program for a total of 10.0 million shares. A total of 5.3 million shares have been repurchased under the 2011 Share Repurchase Program since inception. The shares are purchased, from time to time, through open market purchases or in negotiated private transactions, and the purchases are based on factors, including but not limited to, the stock price, management discretion and general market conditions. The 2011 Share Repurchase Program has no expiration date. The shares repurchased under the Company’s share repurchase program were as follows (in thousands, except per share amounts) (none in 2017): Total Number of Shares Repurchased Range of Prices Paid Per Share Total Cost of Low High Three Months Ended: September 30, 2016 140 $ 29.27 $ 30.00 $ 4,117 Nine Months Ended: September 30, 2016 140 $ 29.27 $ 30.00 $ 4,117 |
Commitments and Loss Contingenc
Commitments and Loss Contingency | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Loss Contingency | Note 14. Commitments and Loss Contingency Commitments During the nine months ended September 30, 2017, the Company entered into several leases in the ordinary course of business. The following is a schedule of future minimum rental payments required under operating leases that have noncancelable lease terms as of September 30, 2017, including the impact of the leases assumed in connection with the Telecommunications Asset acquisition (in thousands): Amount 2017 (remaining three months) $ 1,560 2018 7,645 2019 7,271 2020 7,474 2021 7,631 2022 6,940 2023 and thereafter 18,437 Total minimum payments required $ 56,958 During the nine months ended September 30, 2017, the Company entered into agreements with third-party vendors in the ordinary course of business whereby the Company committed to purchase goods and services used in its normal operations. These agreements generally are not cancelable, range from one to five year periods and may contain fixed or minimum annual commitments. Certain of these agreements allow for renegotiation of the minimum annual commitments. The following is a schedule of the future minimum purchases remaining under the agreements as of September 30, 2017 (in thousands): Amount 2017 (remaining three months) $ 6,646 2018 20,021 2019 12,994 2020 5,727 2021 - 2022 - 2023 and thereafter - Total minimum payments required $ 45,388 The July 2015 Qelp acquisition included contingent consideration of $6.0 million, based on achieving targets tied to revenues and EBITDA for the years ended December 31, 2016, 2017 and 2018. On September 26, 2016, the Company entered into an addendum to the Qelp purchase agreement with the sellers to settle the outstanding contingent consideration for EUR 4.0 million to be paid by June 30, 2017. The Company paid $4.4 million in May 2017 to settle the outstanding contingent consideration obligation. As part of the April 2016 Clearlink acquisition, the Company assumed contingent consideration liabilities related to four separate acquisitions made by Clearlink in 2015 and 2016, prior to the Merger. The fair value of the contingent consideration related to these previous acquisitions was $2.8 million as of April 1, 2016 and was based on achieving targets primarily tied to revenues for varying periods of time during 2016 and 2017. As of September 30, 2017, the fair value of the remaining contingent consideration was $1.0 million, which was paid in October 2017. Loss Contingency The Company, from time to time, is involved in legal actions arising in the ordinary course of business. With respect to these matters, management believes that the Company has adequate legal defenses and/or when possible and appropriate, provided adequate accruals related to those matters such that the ultimate outcome will not have a material adverse effect on the Company’s financial position or results of operations. |
Defined Benefit Pension Plan an
Defined Benefit Pension Plan and Postretirement Benefits | 9 Months Ended |
Sep. 30, 2017 | |
Retirement Benefits [Abstract] | |
Defined Benefit Pension Plan and Postretirement Benefits | Note 15. Defined Benefit Pension Plan and Postretirement Benefits Defined Benefit Pension Plans The following table provides information about the net periodic benefit cost for the Company’s pension plans (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Service cost $ 118 $ 112 $ 371 $ 350 Interest cost 46 42 144 131 Recognized actuarial (gains) (10 ) (10 ) (31 ) (32 ) Net periodic benefit cost $ 154 $ 144 $ 484 $ 449 Employee Retirement Savings Plans The Company maintains a 401(k) plan covering defined employees who meet established eligibility requirements. Under the plan provisions, the Company matches 50% of participant contributions to a maximum matching amount of 2% of participant compensation. The Company’s contributions included in the accompanying Condensed Consolidated Statements of Operations were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 401(k) plan contributions $ 484 $ 260 $ 1,104 $ 879 Split-Dollar Life Insurance Arrangement In 1996, the Company entered into a split-dollar life insurance arrangement to benefit the former Chairman and Chief Executive Officer of the Company. Under the terms of the arrangement, the Company retained a collateral interest in the policy to the extent of the premiums paid by the Company. The postretirement benefit obligation included in “Other long-term liabilities” and the unrealized gains (losses) included in “Accumulated other comprehensive income” in the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands): September 30, 2017 December 31, 2016 Postretirement benefit obligation $ 19 $ 27 Unrealized gains (losses) in AOCI (1) 162 200 (1) |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Note 16. Stock-Based Compensation The Company’s stock-based compensation plans include the 2011 Equity Incentive Plan, the Non-Employee Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Stock-based compensation reversal (expense) (1) $ 303 $ (2,107 ) $ (4,429 ) $ (7,836 ) Income tax benefit (expense) (2) (161 ) 840 1,661 3,017 Excess tax benefit (deficiency) from stock-based compensation (3) - 5 - 2,065 (1) (2) (3) paid-in There were no capitalized stock-based compensation costs as of September 30, 2017 and December 31, 2016. Beginning January 1, 2017, as a result of the adoption of ASU 2016-09, 2016-09. 2011 Equity Incentive Plan — non-employees Stock Appreciation Rights — one-third The following table summarizes the assumptions used to estimate the fair value of SARS granted: Nine Months Ended September 30, 2017 2016 Expected volatility 19.3 % 25.3 % Weighted-average volatility 19.3 % 25.3 % Expected dividend rate 0.0 % 0.0 % Expected term (in years) 5.0 5.0 Risk-free rate 1.9 % 1.5 % The following table summarizes SARs activity as of September 30, 2017 and for the nine months then ended: Stock Appreciation Rights Shares (000s) Weighted Weighted Aggregate Outstanding at January 1, 2017 633 $ - Granted 396 $ - Exercised (196 ) $ - Forfeited or expired (70 ) $ - Outstanding at September 30, 2017 763 $ - 8.6 $ 915 Vested or expected to vest at September 30, 2017 763 $ - 8.6 $ 915 Exercisable at September 30, 2017 163 $ - 7.0 $ 658 The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): Nine Months Ended September 30, 2017 2016 Number of SARs granted 396 323 Weighted average grant-date fair value per SAR $ 6.24 $ 7.68 Intrinsic value of SARs exercised $ 1,678 $ 1,691 Fair value of SARs vested $ 1,846 $ 1,520 The following table summarizes nonvested SARs activity as of September 30, 2017 and for the nine months then ended: Nonvested Stock Appreciation Rights Shares (000s) Weighted Nonvested at January 1, 2017 515 $ 7.76 Granted 396 $ 6.24 Vested (241 ) $ 7.69 Forfeited or expired (70 ) $ 6.93 Nonvested at September 30, 2017 600 $ 6.88 As of September 30, 2017, there was $3.1 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested SARs granted under the 2011 Plan. This cost is expected to be recognized over a weighted average period of 1.4 years. Restricted Shares – Changes in the probability of achieving the performance goals from period to period will result in corresponding changes in compensation expense. The employment-based restricted shares currently outstanding vest one-third The following table summarizes nonvested restricted shares/RSUs activity as of September 30, 2017 and for the nine months then ended: Nonvested Restricted Shares and RSUs Shares (000s) Weighted Nonvested at January 1, 2017 1,136 $ 25.47 Granted 480 $ 29.42 Vested (328 ) $ 20.95 Forfeited or expired (179 ) $ 25.62 Nonvested at September 30, 2017 1,109 $ 28.50 The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): Nine Months Ended September 30, 2017 2016 Number of restricted shares/RSUs granted 480 451 Weighted average grant-date fair value per restricted share/RSU $ 29.42 $ 30.32 Fair value of restricted shares/RSUs vested $ 6,868 $ 6,785 As of September 30, 2017, there was $25.0 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested restricted shares/RSUs granted under the 2011 Plan. This cost is expected to be recognized over a weighted average period of 1.8 years. Non-Employee — Non-Employee non-employee one-twelfth one-twelfth non-employee The 2004 Fee Plan also provided that each non-employee non-employee one-fourth one-fourth non-employee one-eighth one-eighth Non-Employee two-year one-year one-fourth one-fourth non-employee In addition to the Annual Retainer award, the 2004 Fee Plan also provided for any non-employee non-employee Chairperson of the Audit Committee is $20,000 and Audit Committee members’ are entitled to an annual cash award of $10,000. The annual cash awards for the Chairpersons of the Compensation Committee, Finance Committee and Nominating and Corporate Governance Committee are $15,000, $12,500 and $12,500, respectively, and all other members of such committees are entitled to an annual cash award of $7,500. The 2004 Fee Plan expired in May 2014, prior to the 2014 annual shareholders’ meeting. In March 2014, upon the recommendation of the Compensation Committee, the Board determined that, following the expiration of the 2004 Fee Plan, the compensation of non-employee Non-Employee At the Board’s regularly scheduled meeting on December 10, 2014, upon the recommendation of the Compensation Committee, the Board determined that the amount of the cash and equity compensation payable to non-employee At the Board’s regularly scheduled meeting on December 6, 2016, upon the recommendation of the Compensation Committee, the Board determined that the amount of the cash compensation payable to non-employee The Board may pay additional cash compensation to any non-employee The following table summarizes nonvested common stock share award activity as of September 30, 2017 and for the nine months then ended: Nonvested Common Stock Share Awards Shares (000s) Weighted Nonvested at January 1, 2017 10 $ 28.69 Granted 24 $ 32.93 Vested (20 ) $ 31.14 Forfeited or expired - $ - Nonvested at September 30, 2017 14 $ 32.45 The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): Nine Months Ended September 30, 2017 2016 Number of share awards granted 24 32 Weighted average grant-date fair value per share award $ 32.93 $ 29.04 Fair value of share awards vested $ 640 $ 630 As of September 30, 2017, there was $0.4 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested common stock share awards granted under the Fee Plan. This cost is expected to be recognized over a weighted average period of less than one year. Deferred Compensation Plan — non-qualified As of September 30, 2017 and December 31, 2016, liabilities of $11.3 million and $9.4 million, respectively, of the Deferred Compensation Plan were recorded in “Accrued employee compensation and benefits” in the accompanying Condensed Consolidated Balance Sheets. Additionally, the Company’s common stock match associated with the Deferred Compensation Plan, with a carrying value of approximately $2.1 million and $1.8 million as of September 30, 2017 and December 31, 2016, respectively, is included in “Treasury stock” in the accompanying Condensed Consolidated Balance Sheets. The following table summarizes nonvested common stock activity as of September 30, 2017 and for the nine months then ended: Nonvested Common Stock Shares (000s) Weighted Nonvested at January 1, 2017 2 $ 22.77 Granted 12 $ 30.39 Vested (10 ) $ 29.42 Forfeited or expired (1 ) $ 29.81 Nonvested at September 30, 2017 3 $ 29.18 The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): Nine Months Ended September 30, 2017 2016 Number of shares of common stock granted 12 8 Weighted average grant-date fair value per common stock $ 30.39 $ 29.39 Fair value of common stock vested $ 310 $ 241 Cash used to settle the obligation $ 590 $ 359 As of September 30, 2017, there was $0.1 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested common stock granted under the Deferred Compensation Plan. This cost is expected to be recognized over a weighted average period of 3.7 years. |
Segments and Geographic Informa
Segments and Geographic Information | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Segments and Geographic Information | Note 17. Segments and Geographic Information The Company operates within two regions, the Americas and EMEA. Each region represents a reportable segment comprised of aggregated regional operating segments, which portray similar economic characteristics. The Company aligns its business into two segments to effectively manage the business and support the customer care needs of every client and to respond to the demands of the Company’s global customers. The reportable segments consist of (1) the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and provides outsourced customer engagement solutions (with an emphasis on inbound technical support, digital support and demand generation, and customer service) and technical staffing and (2) EMEA, which includes Europe, the Middle East and Africa, and provides outsourced customer engagement solutions (with an emphasis on technical support and customer service) and fulfillment services. The sites within Latin America, Australia and the Asia Pacific Rim are included in the Americas segment given the nature of the business and client profile, which is primarily made up of U.S.-based companies that are using the Company’s services in these locations to support their customer engagement needs. Information about the Company’s reportable segments is as follows (in thousands): Americas EMEA Other (1) Consolidated Three Months Ended September 30, 2017: Revenues $ 341,334 $ 65,957 $ 18 $ 407,309 Percentage of revenues 83.8% 16.2% 0.0% 100.0% Depreciation, net $ 12,064 $ 1,375 $ 788 $ 14,227 Amortization of intangibles $ 5,081 $ 212 $ - $ 5,293 Income (loss) from operations $ 35,896 $ 4,523 $ (14,190 ) $ 26,229 Total other income (expense), net (1,788 ) (1,788 ) Income taxes (2,746 ) (2,746 ) Net income $ 21,695 Three Months Ended September 30, 2016: Revenues $ 326,013 $ 59,711 $ 19 $ 385,743 Percentage of revenues 84.5% 15.5% 0.0% 100.0% Depreciation, net $ 11,364 $ 1,124 $ 516 $ 13,004 Amortization of intangibles $ 4,990 $ 264 $ - $ 5,254 Income (loss) from operations $ 36,946 $ 7,391 $ (14,666 ) $ 29,671 Total other income (expense), net (462 ) (462 ) Income taxes (7,939 ) (7,939 ) Net income $ 21,270 Nine Months Ended September 30, 2017: Revenues $ 977,136 $ 189,564 $ 61 $ 1,166,761 Percentage of revenues 83.8% 16.2% 0.0% 100.0% Depreciation, net $ 35,374 $ 3,815 $ 2,206 $ 41,395 Amortization of intangibles $ 15,048 $ 726 $ - $ 15,774 Income (loss) from operations $ 99,918 $ 12,266 $ (48,651 ) $ 63,533 Total other income (expense), net (3,370 ) (3,370 ) Income taxes (10,911 ) (10,911 ) Net income $ 49,252 Nine Months Ended September 30, 2016: Revenues $ 893,300 $ 177,488 $ 103 $ 1,070,891 Percentage of revenues 83.4% 16.6% 0.0% 100.0% Depreciation, net $ 30,856 $ 3,450 $ 1,442 $ 35,748 Amortization of intangibles $ 13,353 $ 791 $ - $ 14,144 Income (loss) from operations $ 100,658 $ 13,697 $ (51,012 ) $ 63,343 Total other income (expense), net (937 ) (937 ) Income taxes (18,044 ) (18,044 ) Net income $ 44,362 (1) The Company’s reportable segments are evaluated regularly by its chief operating decision maker to decide how to allocate resources and assess performance. The chief operating decision maker evaluates performance based upon reportable segment revenue and income (loss) from operations. Because assets by segment are not reported to or used by the Company’s chief operating decision maker to allocate resources, or to assess performance, total assets by segment are not disclosed. |
Other Income (Expense)
Other Income (Expense) | 9 Months Ended |
Sep. 30, 2017 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense) | Note 18. Other Income (Expense) Other income (expense), net consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Foreign currency transaction gains (losses) $ (77 ) $ 778 $ 567 $ 3,534 Gains (losses) on derivative instruments not designated as hedges (445 ) (110 ) (48 ) (1,434 ) Other miscellaneous income (expense) 586 313 1,228 501 $ 64 $ 981 $ 1,747 $ 2,601 |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 19. Related Party Transactions In January 2008, the Company entered into a lease for a customer engagement center located in Kingstree, South Carolina. The landlord, Kingstree Office One, LLC, is an entity controlled by John H. Sykes, the founder, former Chairman and Chief Executive Officer of the Company and the father of Charles Sykes, President and Chief Executive Officer of the Company. The lease payments on the 20-year |
Overview and Basis of Present27
Overview and Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | Business — end-to-end up-sell/cross-sell e-mail, Acquisitions On May 31, 2017, the Company completed the acquisition of certain assets of a Global 2000 telecommunications services provider, pursuant to a definitive Asset Purchase Agreement (the “Purchase Agreement”) entered into on April 24, 2017 (the “Telecommunications Asset acquisition”). The Company has reflected the Telecommunications Asset acquisition’s results in the Condensed Consolidated Financial Statements since May 31, 2017. See Note 2, Acquisitions, for additional information on the acquisition. On April 1, 2016, the Company completed the acquisition of Clear Link Holdings LLC (“Clearlink”), pursuant to a definitive Agreement and Plan of Merger (the “Merger Agreement”), dated March 6, 2016. The Company has reflected Clearlink’s results in the Condensed Consolidated Financial Statements since April 1, 2016. See Note 2, Acquisitions, for additional information on the acquisition. |
Basis of Presentation | Basis of Presentation — 10-Q S-X. 10-K |
Principles of Consolidation | Principles of Consolidation — |
Use of Estimates | Use of Estimates — |
Subsequent Events | Subsequent Events — |
Investments in Equity Method Investees | Investments in Equity Method Investees The Company evaluates an equity method investment for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment might not be recoverable. Factors considered by the Company when reviewing an equity method investment for impairment include the length of time (duration) and the extent (severity) to which the fair value of the equity method investment has been less than cost, the investee’s financial condition and near-term prospects, and the intent and ability to hold the investment for a period of time sufficient to allow for anticipated recovery. An impairment that is other-than-temporary is recognized in the period identified. In July 2017, the Company made a strategic investment of $10.0 million in XSell Technologies, Inc. (“XSell”) for 32.8% of XSell’s preferred stock. The Company plans to incorporate XSell’s machine learning and artificial intelligence algorithms into its business. The Company believes this will increase the sales performance of its agents, to drive revenue for its clients, improve the experience of the Company’s clients’ end customers and enhance brand loyalty, reduce the cost of customer care and leverage analytics and machine learning to source the best agents and improve their performance. The Company’s investment in XSell of $10.0 million was included in “Other assets” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. The Company paid $5.0 million in July 2017 with the remaining $5.0 million included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheet as of September 30, 2017. The Company’s proportionate share of XSell’s income (loss) of less than $(0.1) million was included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2017. |
Customer-Acquisition Advertising Costs | Customer-Acquisition Advertising Costs |
Reclassifications | Reclassifications |
New Accounting Standards Not Yet Adopted | New Accounting Standards Not Yet Adopted Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”). 2014-09 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date 2015-14”). 2014-09 2015-14 2014-09 The Company’s implementation team has completed its evaluation of the Company’s revenue streams, analyzed the Company’s contracts to identify key provisions impacted by ASC 606, assessed the applicable accounting, and reviewed existing accounting policies and internal controls. The Company is in the process of implementing appropriate changes to its business processes, systems and controls to support recognition and disclosure under ASC 606. The Company will adopt ASC 606 using the modified retrospective approach applied to those contracts which were not completed as of January 1, 2018. The adoption will result in a cumulative effect adjustment to opening retained earnings as of January 1, 2018, primarily related to deferred revenue associated with the Company’s customer engagement solutions and services. The adoption of these amendments will require expanded qualitative and quantitative disclosures about the Company’s contracts with its customers. Based on the results of its assessment, the Company does not expect the adoption of ASC 606 on January 1, 2018 to have a material impact on its timing of recognition of revenue, financial condition, results of operations and cash flows. The impact to the Company’s results is not expected to be material because the analysis of its contracts under ASC 606 supports the recognition of revenue over time under the output method for the majority of its contracts, which is consistent with the Company’s current revenue recognition model. Revenue from the majority of the Company’s contracts will continue to be recognized over time because of the continuous transfer of control to the customer. In addition, the number of the Company’s performance obligations, which are classified as stand-ready performance obligations under ASC 606, is not materially different from those under the existing standard. Lastly, the accounting for the estimate of variable consideration is not expected to be materially different compared to the Company’s current practice. The immaterial changes as a result of the Company’s adoption of ASC 606 relate to changes in estimating variable consideration with respect to penalty and holdback provisions for failure to meet specified minimum service levels and other performance-based contingencies, as well as the change in timing of revenue recognition associated with certain customer contracts that provide additional fees upon renewal. Financial Instruments In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) 2016-01”). Fair Value Measurements 2016-01 Leases In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) 2016-02”). Leases 2016-02 Financial Instruments – Credit Losses In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments 2016-13”). Statement of Cash Flows In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments 2016-15”). 2016-15 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash (A Consensus of the FASB Emerging Issues Task Force 2016-18”). 2016-18 Income Taxes In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) – Intra-Entity Transfers of Assets Other than Inventory 2016-16”). 2016-16 Business Combinations In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business 2017-01”). 2017-01 Retirement Benefits In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost 2017-07”). 2017-07 Derivatives and Hedging In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815) – Targeted Improvements to Accounting for Hedge Activities 2017-12”). 2017-12 |
New Accounting Standards Recently Adopted | New Accounting Standards Recently Adopted Goodwill In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment 2017-04”). 2017-04 Stock Compensation In May 2017, the FASB issued ASU 2017-09, Compensation – Stock Compensation (Topic 718) – Scope of Modification Accounting 2017-09”). 2017-09 In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) – Improvements to Employee Share-Based Payment Accounting 2016-09”). 2016-09 As a result of the adoption of ASU 2016-09, paid-in Derivatives and Hedging In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) – Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships 2016-05”). 2016-05 |
Fair Value Measurements | ASC 820 Fair Value Measurements and Disclosures ● Level 1 — ● Level 2 — ● Level 3 — . Fair Value of Financial Instruments — ● Cash, short-term and other investments, investments held in rabbi trust and accounts payable — ● Foreign currency forward contracts and options — ● Embedded derivatives — ● Long-term debt — ● Contingent consideration — Fair Value Measurements — 820-10-20 |
Financial Instruments | ASC 825 Financial Instruments Determination of Fair Value — If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency exchange rates, etc. Assets or liabilities valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. The following section describes the valuation methodologies used by the Company to measure assets and liabilities at fair value on a recurring basis, including an indication of the level in the fair value hierarchy in which each asset or liability is generally classified. Foreign Currency Forward Contracts and Options Embedded Derivatives Investments Held in Rabbi Trust Contingent Consideration — |
Income Taxes | Earnings associated with the investments in the Company’s foreign subsidiaries are considered to be indefinitely reinvested outside of the U.S. Therefore, a U.S. provision for income taxes on those earnings or translation adjustments has not been recorded, as permitted by criterion outlined in ASC 740, Income Taxes . |
Earnings Per Share | Basic earnings per share are based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the respective periods and the further dilutive effect, if any, from stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust using the treasury stock method. |
Segments and Geographic Information | The Company operates within two regions, the Americas and EMEA. Each region represents a reportable segment comprised of aggregated regional operating segments, which portray similar economic characteristics. The Company aligns its business into two segments to effectively manage the business and support the customer care needs of every client and to respond to the demands of the Company’s global customers. |
Foreign Currency and Derivative Instruments | Cash Flow Hedges Derivatives and Hedging |
Acquisitions (Tables)
Acquisitions (Tables) - Clearlink [Member] | 9 Months Ended |
Sep. 30, 2017 | |
Summary of Consideration Paid and Transferred | The Clearlink purchase price totaled $207.9 million, consisting of the following (in thousands): Total Cash (1) $ 209,186 Working capital adjustment (1,278 ) $ 207,908 (1) |
Summary of Final Purchase Price Allocation of Fair Values of Assets Acquired and Liabilities Assumed | The following table summarizes the final purchase price allocation of the fair values of the assets acquired and liabilities assumed, all included in the Americas segment (in thousands): Amount Cash and cash equivalents $ 2,584 Receivables (1) 16,801 Prepaid expenses 1,553 Total current assets 20,938 Property and equipment 12,869 Goodwill 70,563 Intangibles 121,400 Deferred charges and other assets 229 Accounts payable (3,564 ) Accrued employee compensation and benefits (1,610 ) Income taxes payable (340 ) Deferred revenue (4,620 ) Other accrued expenses and current liabilities (6,324 ) Total current liabilities (16,458 ) Other long-term liabilities (1,633 ) $ 207,908 (1) |
Summary of Purchased Intangible Assets | The following table presents the Company’s purchased intangible assets as of April 1, 2016, the Clearlink acquisition date (in thousands): Amount Assigned Weighted Average Customer relationships $ 63,800 13 Trade name 2,400 7 Non-compete 1,800 3 Proprietary software 700 5 Indefinite-lived domain names 52,700 N/A $ 121,400 7 |
Schedule of Revenues and Net Income (Loss) | The amount of Clearlink’s revenues and net income since the April 1, 2016 acquisition date, included in the Company’s Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2016, were as follows (in thousands): For the Three September 30, 2016 From April 1, 2016 Revenues $ 45,494 $ 81,856 Net income $ 3,942 $ 4,733 |
Schedule of Unaudited Pro Forma Combined Revenues and Net Earnings | The following table presents the unaudited pro forma combined revenues and net earnings as if Clearlink had been included in the consolidated results of the Company for the entire three and nine month periods ended September 30, 2016. The pro forma financial information is not indicative of the results of operations that would have been achieved if the acquisition and related borrowings had taken place on January 1, 2016 (in thousands): Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Revenues $ 385,743 $ 1,104,720 Net income $ 21,277 $ 47,172 Net income per common share: Basic $ 0.51 $ 1.13 Diluted $ 0.50 $ 1.12 |
Merger and Integration Costs | Merger and integration costs associated with Clearlink included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations were as follows (none in 2017) (in thousands): Three Months Ended Nine Months Ended Severance costs: Americas $ 162 $ 162 Transaction and integration costs: Americas - 29 Other 39 4,415 39 4,444 $ 201 $ 4,606 |
Costs Associated with Exit or29
Costs Associated with Exit or Disposal Activities (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Restructuring and Related Activities [Abstract] | |
Summary of Accrued Liability Associated with Exit Plans' Exit or Disposal Activities and Related Charges (Reversals) | The following table summarizes the accrued liability associated with the Exit Plans’ exit and disposal activities and related charges for the three and nine months ended September 30, 2016 (none in 2017) (in thousands): Three Months Ended Nine Months Ended Beginning accrual $ 319 $ 733 Cash payments (211 ) (625 ) Ending accrual $ 108 $ 108 |
Fair Value (Tables)
Fair Value (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Fair Value Disclosures [Abstract] | |
Assets and Liabilities Measured at Fair Value on a Recurring Basis | The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following as of September 30, 2017 (in thousands): Fair Value Measurements at September 30, 2017 Using: Quoted Prices Significant in Active Other Significant Markets For Observable Unobservable Balance at Identical Assets Inputs Inputs September 30, 2017 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 815 $ - $ 815 $ - Embedded derivatives (1) 41 - - 41 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 7,849 7,849 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 3,427 3,427 - - $ 12,132 $ 11,276 $ 815 $ 41 Liabilities: Foreign currency forward and option contracts (1) $ 916 $ - $ 916 $ - Embedded derivatives (1) 341 - - 341 Contingent consideration (3) 1,000 - - 1,000 $ 2,257 $ - $ 916 $ 1,341 The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following as of December 31, 2016 (in thousands): Fair Value Measurements at December 31, 2016 Using: Quoted Prices Significant in Active Other Significant Markets For Observable Unobservable Balance at Identical Assets Inputs Inputs December 31, 2016 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 3,921 $ - $ 3,921 $ - Embedded derivatives (1) 12 - - 12 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 7,470 7,470 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 1,944 1,944 - - $ 13,347 $ 9,414 $ 3,921 $ 12 Liabilities: Foreign currency forward and option contracts (1) $ 1,912 $ - $ 1,912 $ - Embedded derivatives (1) 567 - - 567 Contingent consideration (3) 6,100 - - 6,100 $ 8,579 $ - $ 1,912 $ 6,667 (1) (2) (3) |
Rollforward of Net Asset (Liability) Activity of Fair Value of Embedded Derivatives | A rollforward of the net asset (liability) activity in the Company’s fair value of the embedded derivatives is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Balance at the beginning of the period $ (171 ) $ 43 $ (555 ) $ - Gains (losses) recognized in “Other income (expense), net” (193 ) 131 122 176 Settlements 66 (2 ) 134 (5 ) Effect of foreign currency (2 ) 4 (1 ) 5 Balance at the end of the period $ (300 ) $ 176 $ (300 ) $ 176 Change in unrealized gains (losses) included in “Other income (expense), net” related to embedded derivatives held at the end of the period $ (193 ) $ 131 $ 122 $ 176 |
Rollforward of Fair Value of Contingent Consideration (Liability) | A rollforward of the activity in the Company’s fair value of the contingent consideration (liability) is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Balance at the beginning of the period $ (1,127 ) $ (9,696 ) $ (6,100 ) $ (6,280 ) Acquisition (1) - - - (2,779 ) Imputed interest (8 ) (207 ) (76 ) (716 ) Fair value gain (loss) adjustments (2) (96 ) 2,798 605 2,798 Settlements 232 - 4,760 - Effect of foreign currency (1 ) (87 ) (189 ) (215 ) Balance at the end of the period $ (1,000 ) $ (7,192 ) $ (1,000 ) $ (7,192 ) Change in unrealized gains (losses) included in “General and administrative” related to contingent consideration outstanding at the end of the period $ - $ 2,755 $ - $ 2,755 (1) (2) |
Summary of Total Impairment Losses Related to Nonrecurring Fair Value Measurements of Certain Assets | The following table summarizes the total impairment losses related to nonrecurring fair value measurements of certain assets (no liabilities) subject to the requirements of ASC 820 (in thousands) (none in 2016): Total Impairment (Loss) Three Months Ended Nine Months Ended 2017 2017 Americas: Property and equipment, net $ (680 ) $ (5,071 ) |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Company's Purchased Intangible Assets | The following table presents the Company’s purchased intangible assets as of September 30, 2017 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 170,925 $ (90,596 ) $ 80,329 10 Trade names and trademarks 14,137 (8,367 ) 5,770 7 Non-compete 1,820 (901 ) 919 3 Content library 533 (533 ) - 2 Proprietary software 1,550 (1,060 ) 490 3 Intangible assets not subject to amortization: Domain names 58,035 - 58,035 N/A $ 247,000 $ (101,457 ) $ 145,543 6 The following table presents the Company’s purchased intangible assets as of December 31, 2016 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average (years) Intangible assets subject to amortization: Customer relationships $ 166,634 $ (75,364 ) $ 91,270 10 Trade names and trademarks 14,095 (7,083 ) 7,012 7 Non-compete 2,993 (1,643 ) 1,350 2 Content library 475 (357 ) 118 2 Proprietary software 1,550 (955 ) 595 3 Favorable lease agreement 449 (449 ) - 2 Intangible assets not subject to amortization: Domain names 52,710 - 52,710 N/A $ 238,906 $ (85,851 ) $ 153,055 6 |
Estimated Future Amortization Expense | The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to September 30, 2017, is as follows (in thousands): Years Ending December 31, Amount 2017 (remaining three months) $ 5,464 2018 15,126 2019 14,067 2020 11,380 2021 6,816 2022 5,723 2023 and thereafter 28,932 |
Changes in Goodwill | Changes in goodwill for the nine months ended September 30, 2017 consist of the following (in thousands): January 1, 2017 Acquisition Effect of Foreign September 30, 2017 Americas $ 255,842 $ 410 $ 2,132 $ 258,384 EMEA 9,562 - 1,082 10,644 $ 265,404 $ 410 $ 3,214 $ 269,028 Changes in goodwill for the year ended December 31, 2016 consist of the following (in thousands): January 1, 2016 Acquisition (1) Effect of Foreign December 31, 2016 Americas $ 186,049 $ 70,563 $ (770 ) $ 255,842 EMEA 9,684 - (122 ) 9,562 $ 195,733 $ 70,563 $ (892 ) $ 265,404 (1) |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Deferred Gains (Losses) and Related Taxes on Cash Flow Hedges | The deferred gains (losses) and related taxes on the Company’s cash flow hedges recorded in “Accumulated other comprehensive income (loss)” (“AOCI”) in the accompanying Condensed Consolidated Balance Sheets are as follows (in thousands): September 30, 2017 December 31, 2016 Deferred gains (losses) in AOCI $ (761 ) $ (2,295 ) Tax on deferred gains (losses) in AOCI (2 ) 69 Deferred gains (losses) in AOCI, net of taxes $ (763 ) $ (2,226 ) Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (757 ) |
Outstanding Foreign Currency Forward Contracts, Options and Embedded Derivatives | The Company had the following outstanding foreign currency forward contracts and options, and embedded derivatives (in thousands): As of September 30, 2017 As of December 31, 2016 Contract Type Notional Settle Through Notional Settle Through Cash flow hedges: Options: US Dollars/Philippine Pesos $ 39,000 September 2018 $ 51,000 December 2017 Forwards: US Dollars/Philippine Pesos 3,000 June 2018 - - US Dollars/Costa Rican Colones 64,000 December 2018 45,500 December 2017 Euros/Hungarian Forints 709 December 2017 - - Euros/Romanian Leis 1,981 December 2017 - - Net investment hedges: Forwards: Euros/US Dollar - - 76,933 September 2017 Non-designated Forwards 27,468 December 2017 55,614 March 2017 Embedded derivatives 13,752 April 2030 13,234 April 2030 |
Derivative Instruments Fair Value | The following tables present the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets (in thousands): Derivative Assets September 30, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 538 $ - Foreign currency forward and option contracts (2) 4 - 542 - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (1) - 3,230 542 3,230 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) 273 691 Embedded derivatives (1) 8 8 Embedded derivatives (2) 33 4 Total derivative assets $ 856 $ 3,933 Derivative Liabilities September 30, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 908 $ 1,806 Foreign currency forward and option contracts (4) 8 - 916 1,806 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) - 106 Embedded derivatives (3) 167 174 Embedded derivatives (4) 174 393 Total derivative liabilities $ 1,257 $ 2,479 (1) (2) (3) (4) |
Effect of the Company's Derivative Instruments | The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended September 30, 2017 and 2016 (in thousands): Gain (Loss) Recognized in Gain (Loss) Reclassified Gain (Loss) Recognized in September 30, September 30, September 30, 2017 2016 2017 2016 2017 2016 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ 585 $ (1,274 ) $ (766 ) $ 127 $ - $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (2,979 ) (979 ) - - - - $ (2,394 ) $ (2,253 ) $ (766 ) $ 127 $ - $ - Gain (Loss) Recognized in “Other income (expense), net” on Derivatives Three Months Ended September 30, 2017 2016 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (252 ) $ 240 Embedded derivatives (193 ) (130 ) $ (445 ) $ 110 The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the nine months ended September 30, 2017 and 2016 (in thousands): Gain (Loss) Recognized in Gain (Loss) Reclassified Gain (Loss) Recognized in September 30, September 30, September 30, 2017 2016 2017 2016 2017 2016 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (881 ) $ (843 ) $ (2,346 ) $ 77 $ - $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (8,352 ) (1,677 ) - - - - $ (9,233 ) $ (2,520 ) $ (2,346 ) $ 77 $ - $ - Gain (Loss) Recognized in “Other income (expense), net” on Derivatives Nine Months Ended September 30, 2017 2016 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (170 ) $ 1,610 Embedded derivatives 122 (176 ) $ (48 ) $ 1,434 |
Investments Held in Rabbi Tru33
Investments Held in Rabbi Trust (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments Held in Rabbi Trust, Classified as Trading | The Company’s investments held in rabbi trust, classified as trading securities and included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets, at fair value, consist of the following (in thousands): September 30, 2017 December 31, 2016 Cost Fair Value Cost Fair Value Mutual funds $ 8,017 $ 11,276 $ 7,257 $ 9,414 |
Components of Investment Income (Losses), Included in Other Income (Expense), Net in Accompanying Consolidated Statements of Operations | The mutual funds held in rabbi trust were 70% equity-based and 30% debt-based as of September 30, 2017. Net investment income (losses), included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Net realized gains (losses) from sale of trading securities $ 13 $ - $ 162 $ - Dividend and interest income 28 7 67 26 Net unrealized holding gains (losses) 401 317 943 471 Net investment income (losses) $ 442 $ 324 $ 1,172 $ 497 |
Deferred Revenue (Tables)
Deferred Revenue (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Revenue Recognition and Deferred Revenue [Abstract] | |
Components of Deferred Revenue | Deferred revenue consists of the following (in thousands): September 30, 2017 December 31, 2016 Future service $ 30,949 $ 27,116 Estimated potential penalties and holdbacks 6,879 6,593 Estimated chargebacks 5,502 5,027 $ 43,330 $ 38,736 |
Deferred Grants (Tables)
Deferred Grants (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Text Block [Abstract] | |
Schedule of Deferred Grants, Net of Accumulated Amortization | Deferred grants, net of accumulated amortization, consist of the following (in thousands): September 30, 2017 December 31, 2016 Property grants $ 2,970 $ 3,353 Lease grants 525 502 Employment grants 45 67 Total deferred grants 3,540 3,922 Less: Lease grants - short-term (1) (114 ) (94 ) Less: Employment grants - short-term (1) (45 ) (67 ) Total long-term deferred grants $ 3,381 $ 3,761 (1) |
Borrowings (Tables)
Borrowings (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Debt Disclosure [Abstract] | |
Information Related to Credit Agreements | The following table presents information related to our credit agreements (dollars in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Average daily utilization $ 267,000 $ 272,000 $ 267,000 $ 207,161 Interest expense, including commitment fee (1) $ 1,772 $ 1,171 $ 4,815 $ 2,625 Weighted average interest rate (2) 2.6% 1.7% 2.4% 1.8% (1) (2) |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Equity [Abstract] | |
Components of Accumulated Other Comprehensive Income (Loss) | The Company presents data in the Condensed Consolidated Statements of Changes in Shareholders’ Equity in accordance with ASC 220, Comprehensive Income Foreign Unrealized Unrealized Unrealized Unrealized Total Balance at January 1, 2016 $ (58,601 ) $ 4,170 $ 1,029 $ (527 ) $ 267 $ (53,662 ) Pre-tax (13,832 ) 3,409 212 (2,313 ) (9 ) (12,533 ) Tax (provision) benefit - (1,313 ) (8 ) 72 - (1,249 ) Reclassification of (gain) loss to net income - - (52 ) 527 (58 ) 417 Foreign currency translation 40 - (56 ) 16 - - Balance at December 31, 2016 (72,393 ) 6,266 1,125 (2,225 ) 200 (67,027 ) Pre-tax 31,922 (8,352 ) - (881 ) (1 ) 22,688 Tax (provision) benefit - 3,132 - 15 - 3,147 Reclassification of (gain) loss to net income - - (31 ) 2,263 (37 ) 2,195 Foreign currency translation (38 ) - (27 ) 65 - - Balance at September 30, 2017 $ (40,509 ) $ 1,046 $ 1,067 $ (763 ) $ 162 $ (38,997 ) |
Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) | The following table summarizes the amounts reclassified to net income from accumulated other comprehensive income (loss) and the associated line item in the accompanying Condensed Consolidated Statements of Operations (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Statements of Operations Location 2017 2016 2017 2016 Actuarial Gain (Loss) Related to Pension Liability: (1) Pre-tax $ 10 $ 10 $ 31 $ 32 Direct salaries and related costs Tax (provision) benefit - - - - Income taxes Reclassification to net income 10 10 31 32 Gain (Loss) on Cash Flow Hedging Instruments: (2) Pre-tax (766 ) 127 (2,346 ) 77 Revenues Tax (provision) benefit 25 (17 ) 83 5 Income taxes Reclassification to net income (741 ) 110 (2,263 ) 82 Gain (Loss) on Post Retirement Obligation: (1),(3) Reclassification to net income 12 13 37 40 General and administrative Total reclassification of gain (loss) to net income $ (719 ) $ 133 $ (2,195 ) $ 154 (1) (2) (3) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Earnings Per Share [Abstract] | |
Numbers of Shares Used in Earnings Per Share Computation | The numbers of shares used in the earnings per share computation are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Basic: Weighted average common shares outstanding 41,879 41,938 41,800 41,873 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 154 286 206 360 Total weighted average diluted shares outstanding 42,033 42,224 42,006 42,233 Anti-dilutive shares excluded from the diluted earnings per share calculation 14 23 16 22 |
Shares Repurchased | The shares repurchased under the Company’s share repurchase program were as follows (in thousands, except per share amounts) (none in 2017): Total Number of Shares Repurchased Range of Prices Paid Per Share Total Cost of Low High Three Months Ended: September 30, 2016 140 $ 29.27 $ 30.00 $ 4,117 Nine Months Ended: September 30, 2016 140 $ 29.27 $ 30.00 $ 4,117 |
Commitments and Loss Continge39
Commitments and Loss Contingency (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Schedule of Future Minimum Rental Payments for Operating Leases | The following is a schedule of future minimum rental payments required under operating leases that have noncancelable lease terms as of September 30, 2017, including the impact of the leases assumed in connection with the Telecommunications Asset acquisition (in thousands): Amount 2017 (remaining three months) $ 1,560 2018 7,645 2019 7,271 2020 7,474 2021 7,631 2022 6,940 2023 and thereafter 18,437 Total minimum payments required $ 56,958 |
Schedule of Future Minimum Purchases Remaining under Agreements | The following is a schedule of the future minimum purchases remaining under the agreements as of September 30, 2017 (in thousands): Amount 2017 (remaining three months) $ 6,646 2018 20,021 2019 12,994 2020 5,727 2021 - 2022 - 2023 and thereafter - Total minimum payments required $ 45,388 |
Defined Benefit Pension Plan 40
Defined Benefit Pension Plan and Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Retirement Benefits [Abstract] | |
Net Periodic Benefit Cost and Other Accumulated Comprehensive Income for Pension Plans | The following table provides information about the net periodic benefit cost for the Company’s pension plans (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Service cost $ 118 $ 112 $ 371 $ 350 Interest cost 46 42 144 131 Recognized actuarial (gains) (10 ) (10 ) (31 ) (32 ) Net periodic benefit cost $ 154 $ 144 $ 484 $ 449 |
Company's Contributions to Employee Retirement Savings Plans | The Company’s contributions included in the accompanying Condensed Consolidated Statements of Operations were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 401(k) plan contributions $ 484 $ 260 $ 1,104 $ 879 |
Post-Retirement Benefit Obligation and Unrealized Gain (Losses) | The postretirement benefit obligation included in “Other long-term liabilities” and the unrealized gains (losses) included in “Accumulated other comprehensive income” in the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands): September 30, 2017 December 31, 2016 Postretirement benefit obligation $ 19 $ 27 Unrealized gains (losses) in AOCI (1) 162 200 (1) |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation Expense, Income Tax Benefits Related to Stock-Based Compensation and Excess Tax Benefits (Provision) Recorded by Company | The following table summarizes the stock-based compensation expense (primarily in the Americas), income tax benefits related to the stock-based compensation and excess tax benefits (deficiencies) (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Stock-based compensation reversal (expense) (1) $ 303 $ (2,107 ) $ (4,429 ) $ (7,836 ) Income tax benefit (expense) (2) (161 ) 840 1,661 3,017 Excess tax benefit (deficiency) from stock-based compensation (3) - 5 - 2,065 (1) (2) (3) paid-in |
Summary of Assumptions Used to Estimate Fair Value | The following table summarizes the assumptions used to estimate the fair value of SARS granted: Nine Months Ended September 30, 2017 2016 Expected volatility 19.3 % 25.3 % Weighted-average volatility 19.3 % 25.3 % Expected dividend rate 0.0 % 0.0 % Expected term (in years) 5.0 5.0 Risk-free rate 1.9 % 1.5 % |
Summary of Stock Appreciation Rights Activity | The following table summarizes SARs activity as of September 30, 2017 and for the nine months then ended: Stock Appreciation Rights Shares (000s) Weighted Weighted Aggregate Outstanding at January 1, 2017 633 $ - Granted 396 $ - Exercised (196 ) $ - Forfeited or expired (70 ) $ - Outstanding at September 30, 2017 763 $ - 8.6 $ 915 Vested or expected to vest at September 30, 2017 763 $ - 8.6 $ 915 Exercisable at September 30, 2017 163 $ - 7.0 $ 658 |
Weighted Average Grant Date of SARs Granted and Total Intrinsic Value of SARs Exercised | The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): Nine Months Ended September 30, 2017 2016 Number of SARs granted 396 323 Weighted average grant-date fair value per SAR $ 6.24 $ 7.68 Intrinsic value of SARs exercised $ 1,678 $ 1,691 Fair value of SARs vested $ 1,846 $ 1,520 |
Summary of Nonvested Stock Appreciation Rights | The following table summarizes nonvested SARs activity as of September 30, 2017 and for the nine months then ended: Nonvested Stock Appreciation Rights Shares (000s) Weighted Nonvested at January 1, 2017 515 $ 7.76 Granted 396 $ 6.24 Vested (241 ) $ 7.69 Forfeited or expired (70 ) $ 6.93 Nonvested at September 30, 2017 600 $ 6.88 |
Summary of Nonvested Restricted Shares and Restricted Stock Units | The following table summarizes nonvested restricted shares/RSUs activity as of September 30, 2017 and for the nine months then ended: Nonvested Restricted Shares and RSUs Shares (000s) Weighted Nonvested at January 1, 2017 1,136 $ 25.47 Granted 480 $ 29.42 Vested (328 ) $ 20.95 Forfeited or expired (179 ) $ 25.62 Nonvested at September 30, 2017 1,109 $ 28.50 |
Summary of Weighted Average Grant-Date Fair Value Granted and Total Fair Value of Restricted Shares and Restricted Stock Units Vested | The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): Nine Months Ended September 30, 2017 2016 Number of restricted shares/RSUs granted 480 451 Weighted average grant-date fair value per restricted share/RSU $ 29.42 $ 30.32 Fair value of restricted shares/RSUs vested $ 6,868 $ 6,785 |
Summary of Nonvested Common Stock Units and Share Awards | The following table summarizes nonvested common stock share award activity as of September 30, 2017 and for the nine months then ended: Nonvested Common Stock Share Awards Shares (000s) Weighted Nonvested at January 1, 2017 10 $ 28.69 Granted 24 $ 32.93 Vested (20 ) $ 31.14 Forfeited or expired - $ - Nonvested at September 30, 2017 14 $ 32.45 |
Summary of Weighted Average Grant-Date Fair Value of Common Stock Units and Share Awards Granted and Total Fair Value of Common Stock Units and Share Awards Vested | The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): Nine Months Ended September 30, 2017 2016 Number of share awards granted 24 32 Weighted average grant-date fair value per share award $ 32.93 $ 29.04 Fair value of share awards vested $ 640 $ 630 |
Summary of Nonvested Common Stock | The following table summarizes nonvested common stock activity as of September 30, 2017 and for the nine months then ended: Nonvested Common Stock Shares (000s) Weighted Nonvested at January 1, 2017 2 $ 22.77 Granted 12 $ 30.39 Vested (10 ) $ 29.42 Forfeited or expired (1 ) $ 29.81 Nonvested at September 30, 2017 3 $ 29.18 |
Summary of Weighted Average Grant-Date Fair Value of Common Stock Awarded and Cash Used to Settle Company's Obligation under Deferred Compensation | The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): Nine Months Ended September 30, 2017 2016 Number of shares of common stock granted 12 8 Weighted average grant-date fair value per common stock $ 30.39 $ 29.39 Fair value of common stock vested $ 310 $ 241 Cash used to settle the obligation $ 590 $ 359 |
Segments and Geographic Infor42
Segments and Geographic Information (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Segment Reporting [Abstract] | |
Company's Reportable Segments | Information about the Company’s reportable segments is as follows (in thousands): Americas EMEA Other (1) Consolidated Three Months Ended September 30, 2017: Revenues $ 341,334 $ 65,957 $ 18 $ 407,309 Percentage of revenues 83.8% 16.2% 0.0% 100.0% Depreciation, net $ 12,064 $ 1,375 $ 788 $ 14,227 Amortization of intangibles $ 5,081 $ 212 $ - $ 5,293 Income (loss) from operations $ 35,896 $ 4,523 $ (14,190 ) $ 26,229 Total other income (expense), net (1,788 ) (1,788 ) Income taxes (2,746 ) (2,746 ) Net income $ 21,695 Three Months Ended September 30, 2016: Revenues $ 326,013 $ 59,711 $ 19 $ 385,743 Percentage of revenues 84.5% 15.5% 0.0% 100.0% Depreciation, net $ 11,364 $ 1,124 $ 516 $ 13,004 Amortization of intangibles $ 4,990 $ 264 $ - $ 5,254 Income (loss) from operations $ 36,946 $ 7,391 $ (14,666 ) $ 29,671 Total other income (expense), net (462 ) (462 ) Income taxes (7,939 ) (7,939 ) Net income $ 21,270 Nine Months Ended September 30, 2017: Revenues $ 977,136 $ 189,564 $ 61 $ 1,166,761 Percentage of revenues 83.8% 16.2% 0.0% 100.0% Depreciation, net $ 35,374 $ 3,815 $ 2,206 $ 41,395 Amortization of intangibles $ 15,048 $ 726 $ - $ 15,774 Income (loss) from operations $ 99,918 $ 12,266 $ (48,651 ) $ 63,533 Total other income (expense), net (3,370 ) (3,370 ) Income taxes (10,911 ) (10,911 ) Net income $ 49,252 Nine Months Ended September 30, 2016: Revenues $ 893,300 $ 177,488 $ 103 $ 1,070,891 Percentage of revenues 83.4% 16.6% 0.0% 100.0% Depreciation, net $ 30,856 $ 3,450 $ 1,442 $ 35,748 Amortization of intangibles $ 13,353 $ 791 $ - $ 14,144 Income (loss) from operations $ 100,658 $ 13,697 $ (51,012 ) $ 63,343 Total other income (expense), net (937 ) (937 ) Income taxes (18,044 ) (18,044 ) Net income $ 44,362 (1) |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense), Net | Other income (expense), net consists of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Foreign currency transaction gains (losses) $ (77 ) $ 778 $ 567 $ 3,534 Gains (losses) on derivative instruments not designated as hedges (445 ) (110 ) (48 ) (1,434 ) Other miscellaneous income (expense) 586 313 1,228 501 $ 64 $ 981 $ 1,747 $ 2,601 |
Overview and Basis of Present44
Overview and Basis of Presentation - Additional Information (Detail) - USD ($) | May 31, 2017 | Apr. 24, 2017 | Jul. 31, 2017 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Jan. 01, 2017 | Dec. 31, 2016 |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Equity method investment paid | $ 5,012,000 | ||||||||
Cash provided by operating activities | 118,374,000 | $ 105,369,000 | |||||||
Net cash provided by (used for) financing activities | (8,480,000) | 193,118,000 | |||||||
XSell Technologies Inc [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Equity method investment, ownership percentage | 32.80% | ||||||||
Equity method investment paid | $ 5,000,000 | ||||||||
Prepaid Expenses And Other Current Assets [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Capitalized direct response advertising costs | $ 100,000 | 100,000 | |||||||
Other Accrued Expenses and Current Liabilities [Member] | XSell Technologies Inc [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Equity method investment | 5,000,000 | 5,000,000 | |||||||
Deferred Charges and Other Assets [Member] | XSell Technologies Inc [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Equity method investment | $ 10,000,000 | 10,000,000 | 10,000,000 | ||||||
Direct Salaries and Related Costs [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Total advertising costs | 9,200,000 | $ 9,800,000 | 27,600,000 | 17,800,000 | |||||
General and Administrative [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Total advertising costs | $ 0 | 100,000 | 0 | ||||||
Accounting Standards Update 2016-09 [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Cash provided by operating activities | 2,100,000 | ||||||||
Net cash provided by (used for) financing activities | $ (2,100,000) | ||||||||
Cumulative effect of accounting change | 79,000 | 79,000 | $ 79,000 | ||||||
Accounting Standards Update 2016-09 [Member] | Additional Paid-in Capital [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Cumulative effect of accounting change | 232,000 | 232,000 | 232,000 | ||||||
Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Cumulative effect of accounting change | (153,000) | (153,000) | $ (153,000) | ||||||
Maximum [Member] | Prepaid Expenses And Other Current Assets [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Capitalized direct response advertising costs | $ 100,000 | ||||||||
Maximum [Member] | General and Administrative [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Total advertising costs | 100,000 | ||||||||
Maximum [Member] | Other Income (Expense) [Member] | XSell Technologies Inc [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Income (loss) from equity method investments | $ (100,000) | $ (100,000) | |||||||
Clearlink [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Effective date of acquisition | Apr. 1, 2016 | ||||||||
Clearlink [Member] | Americas [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Date of Acquisition agreement | Mar. 6, 2016 | ||||||||
Effective date of acquisition | Apr. 1, 2016 | ||||||||
Global 2000 Telecommunications Services Provider [Member] | Americas [Member] | |||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | |||||||||
Date of Acquisition agreement | Apr. 24, 2017 | Apr. 24, 2017 | |||||||
Effective date of acquisition | May 31, 2017 | May 31, 2017 |
Acquisitions - Additional Infor
Acquisitions - Additional Information (Detail) - USD ($) $ in Thousands | May 31, 2017 | Apr. 24, 2017 | Apr. 01, 2016 | Sep. 30, 2017 |
Clearlink [Member] | ||||
Business Acquisition [Line Items] | ||||
Aggregate purchase price | $ 209,186 | |||
Effective date of acquisition | Apr. 1, 2016 | |||
Total Consideration paid | 207,908 | |||
Funds placed in escrow as security for indemnifications | 2,600 | |||
Claims Asserted for Payment of Indemnification Obligations | $ 400 | |||
Claim resolved by parties | $ 200 | |||
Clearlink [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Effective date of acquisition | Apr. 1, 2016 | |||
Intangibles acquired | $ 121,400 | |||
Date of Acquisition agreement | Mar. 6, 2016 | |||
Percentage of outstanding membership units | 100.00% | |||
Amortization period of deductible intangibles and goodwill | 15 years | |||
Global 2000 Telecommunications Services Provider [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Aggregate purchase price | $ 7,500 | |||
Effective date of acquisition | May 31, 2017 | May 31, 2017 | ||
Property and equipment acquired | $ 6,000 | |||
Date of Acquisition agreement | Apr. 24, 2017 | Apr. 24, 2017 | ||
Customer Relationships [Member] | Clearlink [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangibles acquired | $ 63,800 | |||
Customer Relationships [Member] | Global 2000 Telecommunications Services Provider [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangibles acquired | $ 1,500 |
Acquisitions - Summary of Consi
Acquisitions - Summary of Consideration Paid and Transferred (Detail) - Clearlink [Member] $ in Thousands | Apr. 01, 2016USD ($) |
Business Acquisition [Line Items] | |
Cash | $ 209,186 |
Working capital adjustment | (1,278) |
Total Consideration paid | $ 207,908 |
Acquisitions - Summary of Final
Acquisitions - Summary of Final Purchase Price Allocation of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 | Apr. 01, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 269,028 | $ 265,404 | $ 195,733 | |
Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | 258,384 | 255,842 | $ 186,049 | |
Clearlink [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 71,000 | |||
Clearlink [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangibles | $ 121,400 | |||
Clearlink [Member] | Americas [Member] | Final Purchase Price Allocation [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | 2,584 | |||
Receivables | 16,801 | |||
Prepaid expenses | 1,553 | |||
Total current assets | 20,938 | |||
Property and equipment | 12,869 | |||
Goodwill | 70,563 | |||
Intangibles | 121,400 | |||
Deferred charges and other assets | 229 | |||
Accounts payable | (3,564) | |||
Accrued employee compensation and benefits | (1,610) | |||
Income taxes payable | (340) | |||
Deferred revenue | (4,620) | |||
Other accrued expenses and current liabilities | (6,324) | |||
Total current liabilities | (16,458) | |||
Other long-term liabilities | (1,633) | |||
Purchase price, total | $ 207,908 |
Acquisitions - Summary of Purch
Acquisitions - Summary of Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | Apr. 01, 2016 | Sep. 30, 2017 | Dec. 31, 2016 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 6 years | 6 years | |
Customer Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 10 years | 10 years | |
Non-Compete Agreements [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 3 years | 2 years | |
Proprietary Software [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 3 years | 3 years | |
Clearlink [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 121,400 | ||
Weighted Average Amortization Period (years) | 7 years | ||
Clearlink [Member] | Americas [Member] | Indefinite-Lived Domain Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 52,700 | ||
Clearlink [Member] | Customer Relationships [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 63,800 | ||
Weighted Average Amortization Period (years) | 13 years | ||
Clearlink [Member] | Trade Name [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 2,400 | ||
Weighted Average Amortization Period (years) | 7 years | ||
Clearlink [Member] | Non-Compete Agreements [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 1,800 | ||
Weighted Average Amortization Period (years) | 3 years | ||
Clearlink [Member] | Proprietary Software [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 700 | ||
Weighted Average Amortization Period (years) | 5 years |
Acquisitions - Schedule of Reve
Acquisitions - Schedule of Revenues and Net Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Business Acquisition [Line Items] | ||||
Revenues | $ 407,309 | $ 385,743 | $ 1,166,761 | $ 1,070,891 |
Net income | $ 21,695 | 21,270 | $ 49,252 | 44,362 |
Clearlink [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Revenues | 45,494 | 81,856 | ||
Net income | $ 3,942 | $ 4,733 |
Acquisitions - Schedule of Unau
Acquisitions - Schedule of Unaudited Pro Forma Combined Revenues and Net Earnings (Detail) - Clearlink [Member] - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Business Acquisition [Line Items] | ||
Revenues | $ 385,743 | $ 1,104,720 |
Net income | $ 21,277 | $ 47,172 |
Net income per common share: | ||
Basic | $ 0.51 | $ 1.13 |
Diluted | $ 0.50 | $ 1.12 |
Acquisitions - Merger and Integ
Acquisitions - Merger and Integration Costs (Detail) - Clearlink [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Business Acquisition [Line Items] | ||
Merger and integration costs | $ 201 | $ 4,606 |
Severance Costs [Member] | General and Administrative [Member] | Americas [Member] | ||
Business Acquisition [Line Items] | ||
Merger and integration costs | 162 | 162 |
Transaction and Integration Costs [Member] | General and Administrative [Member] | ||
Business Acquisition [Line Items] | ||
Merger and integration costs | 39 | 4,444 |
Transaction and Integration Costs [Member] | General and Administrative [Member] | Americas [Member] | ||
Business Acquisition [Line Items] | ||
Merger and integration costs | 29 | |
Transaction and Integration Costs [Member] | General and Administrative [Member] | Other Segments [Member] | ||
Business Acquisition [Line Items] | ||
Merger and integration costs | $ 39 | $ 4,415 |
Costs Associated with Exit or52
Costs Associated with Exit or Disposal Activities - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Restructuring Cost and Reserve [Line Items] | |||||
Cash payment related to restructuring plan | $ 211 | $ 625 | |||
Outstanding liability balance related to exit plan | $ 108 | $ 108 | $ 319 | $ 733 | |
2010 and 2011 Exit Plan [Member] | |||||
Restructuring Cost and Reserve [Line Items] | |||||
Cash payment related to restructuring plan | $ 8,100 | ||||
Outstanding liability balance related to exit plan | $ 0 |
Costs Associated with Exit or53
Costs Associated with Exit or Disposal Activities - Summary of Accrued Liability Associated with Exit Plans' Exit or Disposal Activities and Related Charges (Reversals) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Restructuring and Related Activities [Abstract] | ||
Beginning accrual | $ 319 | $ 733 |
Cash payments | (211) | (625) |
Ending accrual | $ 108 | $ 108 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) $ in Thousands, € in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||||
Jun. 30, 2017EUR (€) | May 31, 2017USD ($) | May 31, 2017EUR (€) | Sep. 30, 2017USD ($) | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($) | Sep. 30, 2017EUR (€) | Sep. 30, 2016USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Payments of contingent consideration related to acquisitions | $ 4,760 | |||||||
Expected future value of contingent consideration | $ 1,000 | 1,000 | ||||||
Impairment charge | 680 | 5,071 | ||||||
Land [Member] | Property and Equipment [Member] | Americas [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Impairment charge | 200 | |||||||
General and Administrative [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Fair value (gain) loss adjustments on contingent consideration | 96 | $ (2,798) | (605) | $ (2,798) | ||||
Costumer Contact Management Center [Member] | Leasehold Improvements Equipment Furniture and Fixtures [Member] | Property and Equipment [Member] | Americas [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Impairment charge | 4,200 | |||||||
Leased Space [Member] | Leasehold Improvements Equipment Furniture and Fixtures [Member] | Property and Equipment [Member] | Americas [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Impairment charge | 700 | $ 700 | ||||||
Qelp [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Fair value discount rate | 14.00% | 14.00% | ||||||
Payments of contingent consideration related to acquisitions | € 4 | $ 4,400 | € 4 | $ 4,400 | € 4 | |||
Qelp [Member] | General and Administrative [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Fair value (gain) loss adjustments on contingent consideration | (2,600) | (2,600) | ||||||
Clearlink [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Fair value discount rate | 10.00% | 10.00% | ||||||
Clearlink [Member] | General and Administrative [Member] | ||||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||||
Fair value (gain) loss adjustments on contingent consideration | $ 100 | $ (200) | $ (600) | $ (200) |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Dec. 31, 2015 |
Assets: | ||||||
Derivative Assets | $ 856 | $ 3,933 | ||||
Total assets | 12,132 | 13,347 | ||||
Liabilities: | ||||||
Derivative Liabilities | 1,257 | 2,479 | ||||
Fair value of contingent consideration | 1,000 | $ 1,127 | 6,100 | $ 7,192 | $ 9,696 | $ 6,280 |
Total liabilities | 2,257 | 8,579 | ||||
Other Accrued Expenses and Current Liabilities [Member] | ||||||
Liabilities: | ||||||
Fair value of contingent consideration | 1,000 | 6,100 | ||||
Foreign Currency Forward and Option Contracts [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||||||
Assets: | ||||||
Derivative Assets | 815 | 3,921 | ||||
Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||||||
Liabilities: | ||||||
Derivative Liabilities | 916 | 1,912 | ||||
Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||||||
Assets: | ||||||
Derivative Assets | 41 | 12 | ||||
Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||||||
Liabilities: | ||||||
Derivative Liabilities | 341 | 567 | ||||
Equity Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | ||||||
Assets: | ||||||
Investments held in rabbi trust for the Deferred Compensation Plan | 7,849 | 7,470 | ||||
Debt Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | ||||||
Assets: | ||||||
Investments held in rabbi trust for the Deferred Compensation Plan | 3,427 | 1,944 | ||||
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | ||||||
Assets: | ||||||
Total assets | 11,276 | 9,414 | ||||
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | Equity Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | ||||||
Assets: | ||||||
Investments held in rabbi trust for the Deferred Compensation Plan | 7,849 | 7,470 | ||||
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | Debt Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | ||||||
Assets: | ||||||
Investments held in rabbi trust for the Deferred Compensation Plan | 3,427 | 1,944 | ||||
Significant Other Observable Inputs Level 2 [Member] | ||||||
Assets: | ||||||
Total assets | 815 | 3,921 | ||||
Liabilities: | ||||||
Total liabilities | 916 | 1,912 | ||||
Significant Other Observable Inputs Level 2 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||||||
Assets: | ||||||
Derivative Assets | 815 | 3,921 | ||||
Significant Other Observable Inputs Level 2 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||||||
Liabilities: | ||||||
Derivative Liabilities | 916 | 1,912 | ||||
Significant Unobservable Inputs Level 3 [Member] | ||||||
Assets: | ||||||
Total assets | 41 | 12 | ||||
Liabilities: | ||||||
Total liabilities | 1,341 | 6,667 | ||||
Significant Unobservable Inputs Level 3 [Member] | Other Accrued Expenses and Current Liabilities [Member] | ||||||
Liabilities: | ||||||
Fair value of contingent consideration | 1,000 | 6,100 | ||||
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||||||
Assets: | ||||||
Derivative Assets | 41 | 12 | ||||
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||||||
Liabilities: | ||||||
Derivative Liabilities | $ 341 | $ 567 |
Fair Value - Rollforward of Net
Fair Value - Rollforward of Net Asset (Liability) Activity of Fair Value of Embedded Derivatives (Detail) - Embedded Derivatives [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at the beginning of the period | $ (171) | $ 43 | $ (555) | |
Settlements | 66 | (2) | 134 | $ (5) |
Effect of foreign currency | (2) | 4 | (1) | 5 |
Balance at the end of the period | (300) | 176 | (300) | 176 |
Other Income (Expense) [Member] | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Gains (losses) recognized in "Other income (expense), net | (193) | 131 | 122 | 176 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract] | ||||
Change in unrealized gains (losses) included in "Other income (expense), net" related to embedded derivatives held at the end of the period | $ (193) | $ 131 | $ 122 | $ 176 |
Fair Value - Rollforward of Fai
Fair Value - Rollforward of Fair Value of Contingent Consideration (Liability) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Contingent consideration (liability), Beginning Balance | $ (1,127) | $ (9,696) | $ (6,100) | $ (6,280) |
Imputed interest | (8) | (207) | (76) | (716) |
Settlements | 232 | 4,760 | ||
Effect of foreign currency | (1) | (87) | (189) | (215) |
Contingent Consideration (liability), Ending Balance | (1,000) | (7,192) | (1,000) | (7,192) |
General and Administrative [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair value (gain) loss adjustments | (96) | 2,798 | 605 | 2,798 |
Fair Value, Assets and Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Abstract] | ||||
Change in unrealized gains (losses) included in "General and administrative" related to contingent consideration outstanding at the end of the period | 2,755 | 2,755 | ||
Clearlink [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Acquisition | (2,779) | |||
Contingent Consideration (liability), Ending Balance | (1,000) | (1,000) | ||
Clearlink [Member] | General and Administrative [Member] | ||||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||||
Fair value (gain) loss adjustments | $ (100) | $ 200 | $ 600 | $ 200 |
Fair Value - Summary of Total I
Fair Value - Summary of Total Impairment Losses Related to Nonrecurring Fair Value Measurements of Certain Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2017 | Sep. 30, 2017 | |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impairment of long-lived assets | $ (680) | $ (5,071) |
Significant Unobservable Inputs Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | Property and Equipment [Member] | Americas [Member] | ||
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impairment of long-lived assets | $ (680) | $ (5,071) |
Goodwill and Intangible Asset59
Goodwill and Intangible Assets - Company's Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 247,000 | $ 238,906 |
Accumulated Amortization | (101,457) | (85,851) |
Net Intangibles | $ 145,543 | $ 153,055 |
Weighted Average Amortization Period (years) | 6 years | 6 years |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 170,925 | $ 166,634 |
Accumulated Amortization | (90,596) | (75,364) |
Net Intangibles | $ 80,329 | $ 91,270 |
Weighted Average Amortization Period (years) | 10 years | 10 years |
Trade Name and Trademarks [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 14,137 | $ 14,095 |
Accumulated Amortization | (8,367) | (7,083) |
Net Intangibles | $ 5,770 | $ 7,012 |
Weighted Average Amortization Period (years) | 7 years | 7 years |
Non-Compete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 1,820 | $ 2,993 |
Accumulated Amortization | (901) | (1,643) |
Net Intangibles | $ 919 | $ 1,350 |
Weighted Average Amortization Period (years) | 3 years | 2 years |
Content Library [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 533 | $ 475 |
Accumulated Amortization | $ (533) | (357) |
Net Intangibles | $ 118 | |
Weighted Average Amortization Period (years) | 2 years | 2 years |
Proprietary Software [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 1,550 | $ 1,550 |
Accumulated Amortization | (1,060) | (955) |
Net Intangibles | $ 490 | $ 595 |
Weighted Average Amortization Period (years) | 3 years | 3 years |
Domain Names Not Subject To Amortization [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 58,035 | $ 52,710 |
Net Intangibles | $ 58,035 | 52,710 |
Favorable Lease Agreement [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | 449 | |
Accumulated Amortization | $ (449) | |
Weighted Average Amortization Period (years) | 2 years |
Goodwill and Intangible Asset60
Goodwill and Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands | Sep. 30, 2017USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2017 (remaining three months) | $ 5,464 |
2,018 | 15,126 |
2,019 | 14,067 |
2,020 | 11,380 |
2,021 | 6,816 |
2,022 | 5,723 |
2023 and thereafter | $ 28,932 |
Goodwill and Intangible Asset61
Goodwill and Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | $ 265,404 | $ 195,733 |
Acquisition | 410 | 70,563 |
Effect of Foreign Currency | 3,214 | (892) |
Ending Balance, Goodwill Net | 269,028 | 265,404 |
Americas [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 255,842 | 186,049 |
Acquisition | 410 | 70,563 |
Effect of Foreign Currency | 2,132 | (770) |
Ending Balance, Goodwill Net | 258,384 | 255,842 |
EMEA [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 9,562 | 9,684 |
Effect of Foreign Currency | 1,082 | (122) |
Ending Balance, Goodwill Net | $ 10,644 | $ 9,562 |
Goodwill and Intangible Asset62
Goodwill and Intangible Assets - Additional Information (Detail) | 9 Months Ended | ||
Sep. 30, 2017USD ($)Reporting_Unit | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Goodwill [Line Items] | |||
Number of reporting units | Reporting_Unit | 6 | ||
Number of reporting units, fair value in excess of carrying value | Reporting_Unit | 4 | ||
Goodwill | $ 269,028,000 | $ 265,404,000 | $ 195,733,000 |
Qelp [Member] | |||
Goodwill [Line Items] | |||
Goodwill Impairment Loss | 0 | ||
Goodwill | 10,600,000 | ||
Clearlink [Member] | |||
Goodwill [Line Items] | |||
Goodwill Impairment Loss | 0 | ||
Goodwill | $ 71,000,000 |
Financial Derivatives - Deferre
Financial Derivatives - Deferred Gains (Losses) and Related Taxes on Cash Flow Hedges (Detail) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Deferred gains (losses) in AOCI | $ (761) | $ (2,295) |
Tax on deferred gains (losses) in AOCI | (2) | 69 |
Deferred gains (losses) in AOCI, net of taxes | (763) | $ (2,226) |
Deferred gains (losses) expected to be reclassified to "Revenues" from AOCI during the next twelve months | $ (757) |
Financial Derivatives - Additio
Financial Derivatives - Additional Information (Detail) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Maximum period of foreign currency hedge contracts | 180 days | |
Maximum amount of loss due to credit risk | $ 800,000 | $ 3,900,000 |
Total net settlement amount asset positions | 700,000 | 3,600,000 |
Total net settlement amount liability positions | $ 800,000 | $ 1,600,000 |
Financial Derivatives - Outstan
Financial Derivatives - Outstanding Foreign Currency Forward Contracts, Options and Embedded Derivatives (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Option Contracts [Member] | US Dollars/Philippine Pesos [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 39,000 | $ 51,000 |
Settle Through Date | Sep. 30, 2018 | Dec. 31, 2017 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | US Dollars/Philippine Pesos [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 3,000 | |
Settle Through Date | Jun. 30, 2018 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | US Dollars/Costa Rican Colones [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 64,000 | $ 45,500 |
Settle Through Date | Dec. 31, 2018 | Dec. 31, 2017 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Euros/Hungarian Forints [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 709 | |
Settle Through Date | Dec. 31, 2017 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Euros/Romanian Leis [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 1,981 | |
Settle Through Date | Dec. 31, 2017 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Net Investment Hedges [Member] | Forwards [Member] | Euros/US Dollar [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 76,933 | |
Settle Through Date | Sep. 30, 2017 | |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Forwards [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 27,468 | $ 55,614 |
Settle Through Date | Dec. 31, 2017 | Mar. 31, 2017 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 13,752 | $ 13,234 |
Settle Through Date | Apr. 30, 2030 | Apr. 30, 2030 |
Financial Derivatives - Derivat
Financial Derivatives - Derivative Instruments Fair Value (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 856 | $ 3,933 |
Derivative Liabilities | 1,257 | 2,479 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 542 | 3,230 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 273 | 691 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Accrued Expenses and Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 106 | |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 8 | 8 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Deferred Charges and Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 33 | 4 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Accrued Expenses and Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 167 | 174 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Long-Term Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 174 | 393 |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 542 | |
Derivative Liabilities | 916 | 1,806 |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Current Assets [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 538 | |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Deferred Charges and Other Assets [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 4 | |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Accrued Expenses and Current Liabilities [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 908 | 1,806 |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Long-Term Liabilities [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | $ 8 | |
Net Investment Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 3,230 |
Financial Derivatives - Effect
Financial Derivatives - Effect of Company's Derivative Instruments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $ (2,394) | $ (2,253) | $ (9,233) | $ (2,520) |
Gain (Loss) Reclassified From AOCI Into "Revenues" (Effective Portion) | (766) | 127 | (2,346) | 77 |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 | 0 | 0 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Foreign Currency Forward Contracts [Member] | Option Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 585 | (1,274) | (881) | (843) |
Gain (Loss) Reclassified From AOCI Into "Revenues" (Effective Portion) | (766) | 127 | (2,346) | 77 |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 | 0 | 0 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Net Investment Hedges [Member] | Foreign Currency Forward Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | (2,979) | (979) | (8,352) | (1,677) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 | 0 | 0 |
Other Income (Expense) [Member] | Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | (445) | 110 | (48) | 1,434 |
Other Income (Expense) [Member] | Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | (252) | 240 | (170) | 1,610 |
Other Income (Expense) [Member] | Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | ||||
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | $ (193) | $ (130) | $ 122 | $ (176) |
Investments Held in Rabbi Tru68
Investments Held in Rabbi Trust - Investments Held in Rabbi Trust, Classified as Trading (Detail) - Mutual Funds [Member] - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Cost | $ 8,017 | $ 7,257 |
Other Current Assets [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Fair Value | $ 11,276 | $ 9,414 |
Investments Held in Rabbi Tru69
Investments Held in Rabbi Trust - Additional Information (Detail) | Sep. 30, 2017 |
Equity-Based Securities [Member] | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |
Mutual funds held in rabbi trust | 70.00% |
Debt-Based Securities [Member] | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |
Mutual funds held in rabbi trust | 30.00% |
Investments Held in Rabbi Tru70
Investments Held in Rabbi Trust - Components of Investment Income (Losses), Included in Other Income (Expense), Net in Accompanying Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Net realized gains (losses) from sale of trading securities | $ 13 | $ 162 | ||
Dividend and interest income | 28 | $ 7 | 67 | $ 26 |
Net unrealized holding gains (losses) | 401 | 317 | 943 | 471 |
Other Income (Expense) [Member] | ||||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Net investment income (losses) | $ 442 | $ 324 | $ 1,172 | $ 497 |
Deferred Revenue - Components o
Deferred Revenue - Components of Deferred Revenue (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deferred Revenue Disclosure [Abstract] | ||
Future service | $ 30,949 | $ 27,116 |
Estimated potential penalties and holdbacks | 6,879 | 6,593 |
Estimated chargebacks | 5,502 | 5,027 |
Deferred revenue | $ 43,330 | $ 38,736 |
Deferred Grants - Schedule of D
Deferred Grants - Schedule of Deferred Grants, Net of Accumulated Amortization (Detail) - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Deferred Revenue Arrangement [Line Items] | ||
Lease grants | $ 525 | $ 502 |
Employment grants | 45 | 67 |
Total deferred grants | 3,540 | 3,922 |
Total long-term deferred grants | 3,381 | 3,761 |
Total deferred grants | 3,540 | 3,922 |
Other Long-Term Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Property grants | 2,970 | 3,353 |
Total long-term deferred grants | 3,381 | 3,761 |
Other Accrued Expenses and Current Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Less: Lease grants - short-term | (114) | (94) |
Less: Employment grants - short-term | $ (45) | $ (67) |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | 9 Months Ended | ||||
Sep. 30, 2017 | Dec. 31, 2016 | Apr. 01, 2016 | May 31, 2015 | May 12, 2015 | |
Line of Credit Facility [Line Items] | |||||
Outstanding borrowings | $ 267,000,000 | $ 267,000,000 | |||
2015 Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 440,000,000 | ||||
Line of credit facility, expiration date | May 12, 2020 | ||||
Outstanding borrowings | $ 267,000,000 | $ 267,000,000 | |||
Credit agreement customary fees description | The Company is required to pay certain customary fees, including a commitment fee determined quarterly based on the Company's leverage ratio and due quarterly in arrears as calculated on the average unused amount of the 2015 Credit Agreement. | ||||
Underwriting fee for credit agreement | $ 900,000 | ||||
2015 Credit Agreement [Member] | Clearlink [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Outstanding borrowings | $ 216,000,000 | ||||
2015 Credit Agreement [Member] | Non-Voting Capital Stock Direct Foreign Subsidiaries [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Percentage of capital stock pledged under credit agreement | 100.00% | ||||
2015 Credit Agreement [Member] | Voting Capital Stock Direct Foreign Subsidiaries [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Percentage of capital stock pledged under credit agreement | 65.00% | ||||
2012 Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Underwriting fee for credit agreement | $ 400,000 | ||||
2015 Credit Agreement Alternate-Currency Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 200,000,000 | ||||
2015 Credit Agreement Swingline Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 10,000,000 | ||||
2015 Credit Agreement Letter of Credit Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 35,000,000 |
Borrowings - Information Relate
Borrowings - Information Related to Credit Agreements (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Line of Credit Facility [Abstract] | ||||
Average daily utilization of borrowings | $ 267,000 | $ 272,000 | $ 267,000 | $ 207,161 |
Interest expense including commitment fees, excluding amortization of deferred loan fees | $ 1,772 | $ 1,171 | $ 4,815 | $ 2,625 |
Weighted average interest rate | 2.60% | 1.70% | 2.40% | 1.80% |
Accumulated Other Comprehensi75
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | $ (67,027) | $ (53,662) |
Pre-tax amount | 22,688 | (12,533) |
Tax (provision) benefit | 3,147 | (1,249) |
Reclassification of (gain) loss to net income | 2,195 | 417 |
Ending balance, accumulated other comprehensive income (loss) | (38,997) | (67,027) |
Foreign Currency Translation Gain (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | (72,393) | (58,601) |
Pre-tax amount | 31,922 | (13,832) |
Foreign currency translation | (38) | 40 |
Ending balance, accumulated other comprehensive income (loss) | (40,509) | (72,393) |
Unrealized Gain (Loss) on Net Investment Hedge [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 6,266 | 4,170 |
Pre-tax amount | (8,352) | 3,409 |
Tax (provision) benefit | 3,132 | (1,313) |
Ending balance, accumulated other comprehensive income (loss) | 1,046 | 6,266 |
Unrealized Actuarial Gain (Loss) Related to Pension Liability [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 1,125 | 1,029 |
Pre-tax amount | 212 | |
Tax (provision) benefit | (8) | |
Reclassification of (gain) loss to net income | (31) | (52) |
Foreign currency translation | (27) | (56) |
Ending balance, accumulated other comprehensive income (loss) | 1,067 | 1,125 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | (2,225) | (527) |
Pre-tax amount | (881) | (2,313) |
Tax (provision) benefit | 15 | 72 |
Reclassification of (gain) loss to net income | 2,263 | 527 |
Foreign currency translation | 65 | 16 |
Ending balance, accumulated other comprehensive income (loss) | (763) | (2,225) |
Unrealized Gain (Loss) on Post Retirement Obligation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 200 | 267 |
Pre-tax amount | (1) | (9) |
Reclassification of (gain) loss to net income | (37) | (58) |
Ending balance, accumulated other comprehensive income (loss) | $ 162 | $ 200 |
Accumulated Other Comprehensi76
Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pre-tax amount | $ 24,441 | $ 29,209 | $ 60,163 | $ 62,406 |
Tax (provision) benefit | 2,746 | 7,939 | 10,911 | 18,044 |
Reclassification of gain (loss) to net income | 21,695 | 21,270 | 49,252 | 44,362 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification of gain (loss) to net income | (719) | 133 | (2,195) | 154 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Actuarial Gain (Loss) Related to Pension Liability [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification of gain (loss) to net income | 10 | 10 | 31 | 32 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Tax (provision) benefit | 25 | (17) | 83 | 5 |
Reclassification of gain (loss) to net income | (741) | 110 | (2,263) | 82 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Direct Salaries and Related Costs [Member] | Actuarial Gain (Loss) Related to Pension Liability [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pre-tax amount | 10 | 10 | 31 | 32 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Revenues [Member] | Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pre-tax amount | (766) | 127 | (2,346) | 77 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | General and Administrative [Member] | Gain (Loss) on Post Retirement Obligation [Member] | ||||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Reclassification of gain (loss) to net income | $ 12 | $ 13 | $ 37 | $ 40 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2017USD ($) | Sep. 30, 2016 | Sep. 30, 2017USD ($)Jurisdiction | Sep. 30, 2016 | Dec. 31, 2016USD ($) | |
Income Tax [Line Items] | |||||
Effective rate of tax | 11.20% | 27.20% | 18.10% | 28.90% | |
Recognition of tax benefit from other favorable audit settlements and statute of limitation expirations | $ 800,000 | $ 800,000 | |||
Recognition of tax benefit related to the increase in anticipated tax credits and reductions in estimated non-deferred foreign income | 800,000 | 800,000 | |||
Recognition of tax benefit for the release of a valuation allowance | $ 300,000 | $ 300,000 | |||
Statutory federal income tax rate | 35.00% | 35.00% | |||
Recognition of previous unrecognized tax benefit | $ 2,000,000 | ||||
Recognition of tax benefit | 900,000 | ||||
Amount of mandatory security deposit paid related to Notice of Objection | $ 0 | 0 | $ 13,800,000 | ||
Canada Revenue Agency [Member] | |||||
Income Tax [Line Items] | |||||
Recognition of tax benefit from the effective settlement of the Canadian Revenue agency audit | $ 1,200,000 | ||||
Number of significant tax jurisdictions under audit | Jurisdiction | 0 |
Earnings Per Share - Numbers of
Earnings Per Share - Numbers of Shares Used in Earnings Per Share Computation (Detail) - shares shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Basic: | ||||
Weighted average common shares outstanding | 41,879 | 41,938 | 41,800 | 41,873 |
Diluted: | ||||
Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust | 154 | 286 | 206 | 360 |
Total weighted average diluted shares outstanding | 42,033 | 42,224 | 42,006 | 42,233 |
Anti-dilutive shares excluded from the diluted earnings per share calculation | 14 | 23 | 16 | 22 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Mar. 16, 2016 | Aug. 18, 2011 | |
Equity, Class of Treasury Stock [Line Items] | |||||
Total Number of Shares Repurchased | 140,000 | 140,000 | |||
2011 Share Repurchase Program [Member] | |||||
Equity, Class of Treasury Stock [Line Items] | |||||
Maximum amount of shares authorized for repurchase | 10,000,000 | 5,000,000 | |||
Total Number of Shares Repurchased | 5,300,000 | ||||
Increase in shares authorized for repurchase | 5,000,000 |
Earnings Per Share - Shares Rep
Earnings Per Share - Shares Repurchased (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2016 | Sep. 30, 2016 | |
Schedule Of Shares Repurchased [Line Items] | ||
Total Number of Shares Repurchased | 140 | 140 |
Total Cost of Shares Repurchased | $ 4,117 | $ 4,117 |
Minimum [Member] | ||
Schedule Of Shares Repurchased [Line Items] | ||
Range of Prices Paid Per Share | $ 29.27 | $ 29.27 |
Maximum [Member] | ||
Schedule Of Shares Repurchased [Line Items] | ||
Range of Prices Paid Per Share | $ 30 | $ 30 |
Commitments and Loss Continge81
Commitments and Loss Contingency - Schedule of Future Minimum Rental Payments under Operating Leases (Detail) $ in Thousands | Sep. 30, 2017USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2017 (remaining three months) | $ 1,560 |
2,018 | 7,645 |
2,019 | 7,271 |
2,020 | 7,474 |
2,021 | 7,631 |
2,022 | 6,940 |
2023 and thereafter | 18,437 |
Total minimum payments required | $ 56,958 |
Commitments and Loss Continge82
Commitments and Loss Contingency - Additional Information (Detail) $ in Thousands, € in Millions | 1 Months Ended | 9 Months Ended | ||||||||||
Jun. 30, 2017EUR (€) | May 31, 2017USD ($) | May 31, 2017EUR (€) | Sep. 30, 2017USD ($)Acquisition | Sep. 30, 2017EUR (€)Acquisition | Jun. 30, 2017USD ($) | Dec. 31, 2016USD ($) | Sep. 30, 2016USD ($) | Jun. 30, 2016USD ($) | Apr. 01, 2016USD ($) | Dec. 31, 2015USD ($) | Jul. 02, 2015USD ($) | |
Long-term Purchase Commitment [Line Items] | ||||||||||||
Fair value of contingent consideration | $ 1,000 | $ 1,127 | $ 6,100 | $ 7,192 | $ 9,696 | $ 6,280 | ||||||
Payments of contingent consideration related to acquisitions | 4,760 | |||||||||||
Qelp [Member] | ||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||
Fair value of contingent consideration | $ 6,000 | |||||||||||
Payments of contingent consideration related to acquisitions | € 4 | $ 4,400 | € 4 | 4,400 | € 4 | |||||||
Clearlink [Member] | ||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||
Fair value of contingent consideration | $ 1,000 | $ 2,800 | ||||||||||
Number of acquisitions with contingent consideration made by Clearlink prior to the Merger | Acquisition | 4 | 4 | ||||||||||
Minimum [Member] | ||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||
Term of agreements with third party vendors | 1 year | 1 year | ||||||||||
Maximum [Member] | ||||||||||||
Long-term Purchase Commitment [Line Items] | ||||||||||||
Term of agreements with third party vendors | 5 years | 5 years |
Commitments and Loss Continge83
Commitments and Loss Contingency - Schedule of Future Minimum Purchases Remaining under Agreements (Detail) $ in Thousands | Sep. 30, 2017USD ($) |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2017 (remaining three months) | $ 6,646 |
2,018 | 20,021 |
2,019 | 12,994 |
2,020 | 5,727 |
2,021 | 0 |
2,022 | 0 |
2023 and thereafter | 0 |
Total minimum payments required | $ 45,388 |
Defined Benefit Pension Plan 84
Defined Benefit Pension Plan and Postretirement Benefits - Net Periodic Benefit Cost for Pension Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Defined Benefit Plan, Accumulated Other Comprehensive (Income) Loss, before Tax [Abstract] | ||||
Service cost | $ 118 | $ 112 | $ 371 | $ 350 |
Interest cost | 46 | 42 | 144 | 131 |
Recognized actuarial (gains) | (10) | (10) | (31) | (32) |
Net periodic benefit cost | $ 154 | $ 144 | $ 484 | $ 449 |
Defined Benefit Pension Plan 85
Defined Benefit Pension Plan and Postretirement Benefits - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |
Percentage of employer's contribution based on participants contribution | 50.00% |
Maximum [Member] | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |
Percentage of employer's contribution based on participants compensation | 2.00% |
Defined Benefit Pension Plan 86
Defined Benefit Pension Plan and Postretirement Benefits - Company's Contributions to Employee Retirement Savings Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Retirement Benefits [Abstract] | ||||
401(k) plan contributions | $ 484 | $ 260 | $ 1,104 | $ 879 |
Defined Benefit Pension Plan 87
Defined Benefit Pension Plan and Postretirement Benefits - Post-Retirement Benefit Obligation and Unrealized Gain (Losses) (Detail) - Split-Dollar Life Insurance Arrangement [Member] - USD ($) $ in Thousands | Sep. 30, 2017 | Dec. 31, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||
Postretirement benefit obligation | $ 19 | $ 27 |
Unrealized gains (losses) in AOCI | $ 162 | $ 200 |
Stock-Based Compensation - Stoc
Stock-Based Compensation - Stock-Based Compensation Expense, Income Tax Benefits Related to Stock-Based Compensation and Excess Tax Benefits (Provision) Recorded by Company (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation reversal (expense) | $ 303 | $ (2,107) | $ (4,429) | $ (7,836) |
Income Taxes [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Income tax benefit (expense) | $ (161) | 840 | $ 1,661 | 3,017 |
Additional Paid-in Capital [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Excess tax benefit (deficiency) from stock-based compensation | $ 5 | $ 2,065 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | Dec. 06, 2016 | Dec. 10, 2014 | Jun. 30, 2016 | Sep. 30, 2017 | Mar. 31, 2017 | May 16, 2012 | May 18, 2015 | Jan. 01, 2017 | Dec. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Capitalized stock-based compensation costs | $ 0 | $ 0 | |||||||
Accounting Standards Update 2016-09 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Net cumulative effect reduction to retained earnings | 79,000 | $ 79,000 | |||||||
Retained Earnings [Member] | Accounting Standards Update 2016-09 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Net cumulative effect reduction to retained earnings | $ (153,000) | $ (153,000) | |||||||
2011 Equity Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of shares of common stock available under the 2011 plan | 4,000,000 | ||||||||
2011 Equity Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Share-based compensation vesting period | One-third on each of the first three anniversaries of the date of grant | ||||||||
Weighted average period | 1 year 4 months 24 days | ||||||||
Total unrecognized compensation cost | $ 3,100,000 | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based compensation vesting period | One-third on each of the first three anniversaries of the date of grant | ||||||||
Weighted average period | 1 year 9 months 18 days | ||||||||
Total unrecognized compensation cost | $ 25,000,000 | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Range of vesting possibilities | 0.00% | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Range of vesting possibilities | 100.00% | ||||||||
Non-Employee Director Fee Plan [Member] | Common Stock Awards [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Plan expiration date | May 31, 2014 | ||||||||
Total unrecognized compensation cost | $ 400,000 | ||||||||
Value of initial granted shares of common stock to new non employee director | $ 60,000 | ||||||||
Vesting period of initial granted shares of common stock to new non employee director | Twelve equal quarterly installments, one-twelfth on the date of grant and an additional one-twelfth on each successive third monthly anniversary of the date of grant | ||||||||
Value of Annual Retainer to Non-Employee Director | $ 95,000 | $ 125,000 | |||||||
Annual Retainer payable in cash to Non Employee Director | $ 70,000 | $ 55,000 | $ 50,000 | 50,000 | |||||
Amended vesting period of cash Annual retainer to non-employee chairman and committee members | Vested in four equal quarterly installments, one-fourth on the day following the annual meeting of shareholders, and an additional one-fourth on each successive third monthly anniversary of the date of grant | ||||||||
Vesting period of annual granted shares of common stock to non-employee director | Vests in eight equal quarterly installments, one-eighth on the day following the annual meeting of shareholders, and an additional one-eighth on each successive third monthly anniversary of the date of grant | ||||||||
Increased stock component of annual retainer | 25,000 | $ 30,000 | |||||||
Vesting period for the annual equity award | 2 years | 1 year | |||||||
Amended vesting period of annual granted shares of common stock to non-employee director | Four equal quarterly installments, one-fourth on the date of grant and an additional one-fourth on each successive third monthly anniversary of the date of grant | ||||||||
Additional annual cash award to be given to any non employee chairman of board | 100,000 | ||||||||
Additional annual cash award to be given to Chairperson of the audit committee | 20,000 | ||||||||
Additional annual cash award to be given to audit committee members | 10,000 | ||||||||
Annual cash awards for the members of the Compensation Committee, Finance Committee and Nominating and Corporate Governance Committee | 7,500 | ||||||||
Annual cash awards for the Chairpersons of the Compensation Committee | 15,000 | ||||||||
Annual cash awards for the Chairpersons of the Finance Committee | 12,500 | ||||||||
Annual cash awards for the Chairpersons of the Nominating and Corporate Governance Committee | 12,500 | ||||||||
Annual Retainer payable in stock to Non Employee Director | 100,000 | ||||||||
Increased cash component of annual retainer | $ 15,000 | $ 5,000 | |||||||
Executive Officer Director Compensation | Directors who are executive officers of the Company receive no compensation for service as members of either the Board of Directors or any committees of the Board. | ||||||||
Non-Employee Director Fee Plan [Member] | Common Stock Awards [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted average period | 1 year | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted average period | 3 years 8 months 12 days | ||||||||
Total unrecognized compensation cost | $ 100,000 | ||||||||
Percentage of contribution in respect of amounts deferred by certain senior management participants | 50.00% | ||||||||
Vesting period of matching contributions and associated earnings | 7 years | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Deferred compensation plan, percentage of employee deferral | 1.00% | 1.00% | |||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Deferred compensation plan, percentage of employee deferral | 100.00% | 80.00% | |||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Treasury Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Common stock match associated with the deferred compensation plan carrying value | $ 2,100,000 | 1,800,000 | |||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | President, Chief Executive Officer and Executive Vice Presidents [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Amounts deferred by certain senior management personnel | 12,000 | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Senior Vice President, Global Vice Presidents and Vice Presidents [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Amounts deferred by certain senior management personnel | 7,500 | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Other participants [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Amounts deferred by certain senior management personnel | 5,000 | ||||||||
Deferred Compensation Plan [Member] | Accrued Employee Compensation and Benefits [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Accrued employee compensation and benefits | $ 11,300,000 | $ 9,400,000 | |||||||
2001 Equity Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Plan expiration date | Mar. 14, 2011 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Assumptions Used to Estimate Fair Value (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 19.30% | 25.30% |
Weighted-average volatility | 19.30% | 25.30% |
Expected dividend rate | 0.00% | 0.00% |
Expected term (in years) | 5 years | 5 years |
Risk-free rate | 1.90% | 1.50% |
Stock-Based Compensation - Su91
Stock-Based Compensation - Summary of Stock Appreciation Rights Activity (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Shares, beginning balance | 633 | |
Granted, Shares | 396 | 323 |
Exercised, Shares | (196) | |
Forfeited or expired, Shares | (70) | |
Outstanding Shares, ending balance | 763 | |
Vested or expected to vest, Shares | 763 | |
Exercisable, Shares | 163 | |
Outstanding, Weighted Average Exercise Price, beginning balance | $ 0 | |
Granted, Weighted Average Exercise Price | 0 | |
Exercised, Weighted Average Exercise Price | 0 | |
Forfeited or expired, Weighted Average Exercise Price | 0 | |
Outstanding, Weighted Average Exercise Price, ending balance | 0 | |
Vested or expected to vest, Weighted Average Exercise Price | 0 | |
Exercisable, Weighted Average Exercise Price | $ 0 | |
Outstanding, Weighted Average Remaining Contractual Term | 8 years 7 months 6 days | |
Vested or expected to vest, Weighted Average Remaining Contractual Term | 8 years 7 months 6 days | |
Exercisable, Weighted Average Remaining Contractual Term | 7 years | |
Outstanding, Aggregate Intrinsic Value | $ 915 | |
Vested or expected to vest, Aggregate Intrinsic Value | 915 | |
Exercisable, Aggregate Intrinsic Value | $ 658 |
Stock-Based Compensation - Weig
Stock-Based Compensation - Weighted Average Grant Date of SARs Granted and Total Intrinsic Value of SARs Exercised (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 396 | 323 |
Weighted average grant-date fair value per SAR | $ 6.24 | $ 7.68 |
Intrinsic value of SARs exercised | $ 1,678 | $ 1,691 |
Fair value of vested | $ 1,846 | $ 1,520 |
Stock-Based Compensation - Su93
Stock-Based Compensation - Summary of Nonvested Stock Appreciation Rights (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 515 | |
Granted, Shares | 396 | 323 |
Vested, Shares | (241) | |
Forfeited, Shares | (70) | |
Nonvested Shares, ending balance | 600 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 7.76 | |
Granted, Weighted Average Grant-Date Fair Value | 6.24 | $ 7.68 |
Vested, Weighted Average Grant-Date Fair Value | 7.69 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 6.93 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 6.88 |
Stock-Based Compensation - Su94
Stock-Based Compensation - Summary of Nonvested Restricted Shares and Restricted Stock Units (Detail) - Restricted Shares and Restricted Stock Units (RSU's) [Member] - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 1,136 | |
Granted, Shares | 480 | 451 |
Vested, Shares | (328) | |
Forfeited, Shares | (179) | |
Nonvested Shares, ending balance | 1,109 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 25.47 | |
Granted, Weighted Average Grant-Date Fair Value | 29.42 | $ 30.32 |
Vested, Weighted Average Grant-Date Fair Value | 20.95 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 25.62 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 28.50 |
Stock-Based Compensation - Su95
Stock-Based Compensation - Summary of Weighted Average Grant-Date Fair Value Granted and Total Fair Value of Restricted Shares and Restricted Stock Units Vested (Detail) - Restricted Shares and Restricted Stock Units (RSU's) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 480 | 451 |
Weighted average grant-date fair value | $ 29.42 | $ 30.32 |
Fair value of vested | $ 6,868 | $ 6,785 |
Stock-Based Compensation - Su96
Stock-Based Compensation - Summary of Nonvested Common Stock Units and Share Awards (Detail) - Common Stock Awards [Member] - Non-Employee Director Fee Plan [Member] - $ / shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 10 | |
Granted, Shares | 24 | 32 |
Vested, Shares | (20) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 14 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 28.69 | |
Granted, Weighted Average Grant-Date Fair Value | 32.93 | $ 29.04 |
Vested, Weighted Average Grant-Date Fair Value | 31.14 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 32.45 |
Stock-Based Compensation - Su97
Stock-Based Compensation - Summary of Weighted Average Grant-Date Fair Value of Common Stock Units and Share Awards Granted and Total Fair Value of Common Stock Units and Share Awards Vested (Detail) - Common Stock Awards [Member] - Non-Employee Director Fee Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 24 | 32 |
Weighted average grant-date fair value | $ 32.93 | $ 29.04 |
Fair value of vested | $ 640 | $ 630 |
Stock-Based Compensation - Su98
Stock-Based Compensation - Summary of Nonvested Common Stock (Detail) - Common Stock Awards [Member] - Deferred Compensation Plan [Member] - $ / shares shares in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 2 | |
Granted, Shares | 12 | 8 |
Vested, Shares | (10) | |
Forfeited, Shares | (1) | |
Nonvested Shares, ending balance | 3 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 22.77 | |
Granted, Weighted Average Grant-Date Fair Value | 30.39 | $ 29.39 |
Vested, Weighted Average Grant-Date Fair Value | 29.42 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 29.81 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.18 |
Stock-Based Compensation - Su99
Stock-Based Compensation - Summary of Weighted Average Grant-Date Fair Value of Common Stock Awarded and Cash Used to Settle Company's Obligation under Deferred Compensation (Detail) - Common Stock Awards [Member] - Deferred Compensation Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 12 | 8 |
Weighted average grant-date fair value | $ 30.39 | $ 29.39 |
Fair value of vested | $ 310 | $ 241 |
Cash used to settle the obligation | $ 590 | $ 359 |
Segments and Geographic Info100
Segments and Geographic Information - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2017SegmentRegion | |
Segment Reporting [Abstract] | |
Number of operating regions | Region | 2 |
Number of reportable segments | Segment | 2 |
Segments and Geographic Info101
Segments and Geographic Information - Company's Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 407,309 | $ 385,743 | $ 1,166,761 | $ 1,070,891 |
Percentage of revenues | 100.00% | 100.00% | 100.00% | 100.00% |
Depreciation, net | $ 14,227 | $ 13,004 | $ 41,395 | $ 35,748 |
Amortization of intangibles | 5,293 | 5,254 | 15,774 | 14,144 |
Income (loss) from operations | 26,229 | 29,671 | 63,533 | 63,343 |
Total other income (expense), net | (1,788) | (462) | (3,370) | (937) |
Income taxes | (2,746) | (7,939) | (10,911) | (18,044) |
Net income | 21,695 | 21,270 | 49,252 | 44,362 |
Americas [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 341,334 | $ 326,013 | $ 977,136 | $ 893,300 |
Percentage of revenues | 83.80% | 84.50% | 83.80% | 83.40% |
Depreciation, net | $ 12,064 | $ 11,364 | $ 35,374 | $ 30,856 |
Amortization of intangibles | 5,081 | 4,990 | 15,048 | 13,353 |
Income (loss) from operations | 35,896 | 36,946 | 99,918 | 100,658 |
EMEA [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 65,957 | $ 59,711 | $ 189,564 | $ 177,488 |
Percentage of revenues | 16.20% | 15.50% | 16.20% | 16.60% |
Depreciation, net | $ 1,375 | $ 1,124 | $ 3,815 | $ 3,450 |
Amortization of intangibles | 212 | 264 | 726 | 791 |
Income (loss) from operations | 4,523 | 7,391 | 12,266 | 13,697 |
Other Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 18 | $ 19 | $ 61 | $ 103 |
Percentage of revenues | 0.00% | 0.00% | 0.00% | 0.00% |
Depreciation, net | $ 788 | $ 516 | $ 2,206 | $ 1,442 |
Income (loss) from operations | (14,190) | (14,666) | (48,651) | (51,012) |
Total other income (expense), net | (1,788) | (462) | (3,370) | (937) |
Income taxes | $ (2,746) | $ (7,939) | $ (10,911) | $ (18,044) |
Other Income (Expense) - Schedu
Other Income (Expense) - Schedule of Other Income (Expense), Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Other Income (Expense) [Abstract] | ||||
Foreign currency transaction gains (losses) | $ (77) | $ 778 | $ 567 | $ 3,534 |
Gains (losses) on derivative instruments not designated as hedges | (445) | (110) | (48) | (1,434) |
Other miscellaneous income (expense) | 586 | 313 | 1,228 | 501 |
Other income (expense) | $ 64 | $ 981 | $ 1,747 | $ 2,601 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Jan. 31, 2008 | Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |||||
Duration of lease | 20 years | ||||
Payment to landlord under the lease terms | $ 0.1 | $ 0.1 | $ 0.3 | $ 0.3 |