Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | Apr. 19, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
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 | 42,799,382 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 172,590 | $ 343,734 |
Receivables, net | 346,920 | 341,958 |
Prepaid expenses | 22,270 | 22,132 |
Other current assets | 16,395 | 19,743 |
Total current assets | 558,175 | 727,567 |
Property and equipment, net | 153,834 | 160,790 |
Goodwill, net | 267,936 | 269,265 |
Intangibles, net | 143,623 | 140,277 |
Deferred charges and other assets | 32,618 | 29,193 |
Total assets | 1,156,186 | 1,327,092 |
Current liabilities: | ||
Accounts payable | 26,244 | 32,133 |
Accrued employee compensation and benefits | 100,991 | 102,899 |
Income taxes payable | 2,698 | 2,606 |
Deferred revenue | 30,217 | 34,717 |
Other accrued expenses and current liabilities | 35,018 | 30,888 |
Total current liabilities | 195,168 | 203,243 |
Deferred grants | 3,089 | 3,233 |
Long-term debt | 100,000 | 275,000 |
Long-term income tax liabilities | 27,113 | 27,098 |
Other long-term liabilities | 24,670 | 22,039 |
Total liabilities | 350,040 | 530,613 |
Commitments and loss contingency (Note 12) | ||
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; 42,799 and 42,899 shares issued, respectively | 428 | 429 |
Additional paid-in capital | 280,840 | 282,385 |
Retained earnings | 560,810 | 546,843 |
Accumulated other comprehensive income (loss) | (33,799) | (31,104) |
Treasury stock at cost: 118 and 117 shares, respectively | (2,133) | (2,074) |
Total shareholders' equity | 806,146 | 796,479 |
Total liabilities and shareholders' equity | $ 1,156,186 | $ 1,327,092 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
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 | 42,799,000 | 42,899,000 |
Treasury stock, shares | 118,000 | 117,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Income Statement [Abstract] | ||
Revenues | $ 414,371 | $ 384,014 |
Operating expenses: | ||
Direct salaries and related costs | 275,072 | 247,136 |
General and administrative | 102,440 | 92,044 |
Depreciation, net | 14,836 | 13,348 |
Amortization of intangibles | 4,213 | 5,231 |
Impairment of long-lived assets | 3,526 | 202 |
Total operating expenses | 400,087 | 357,961 |
Income from operations | 14,284 | 26,053 |
Other income (expense): | ||
Interest income | 171 | 155 |
Interest (expense) | (1,206) | (1,699) |
Other income (expense), net | 155 | 813 |
Total other income (expense), net | (880) | (731) |
Income before income taxes | 13,404 | 25,322 |
Income taxes | 2,456 | 6,610 |
Net income | $ 10,948 | $ 18,712 |
Net income per common share: | ||
Basic | $ 0.26 | $ 0.45 |
Diluted | $ 0.26 | $ 0.45 |
Weighted average common shares outstanding: | ||
Basic | 41,939 | 41,654 |
Diluted | 42,232 | 41,905 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 10,948 | $ 18,712 |
Other comprehensive income (loss), net of taxes: | ||
Foreign currency translation gain (loss), net of taxes | 291 | 3,898 |
Unrealized gain (loss) on net investment hedges, net of taxes | (368) | |
Unrealized gain (loss) on cash flow hedging instruments, net of taxes | (2,893) | 532 |
Unrealized actuarial gain (loss) related to pension liability, net of taxes | (83) | (23) |
Unrealized gain (loss) on postretirement obligation, net of taxes | (10) | (13) |
Other comprehensive income (loss), net of taxes | (2,695) | 4,026 |
Comprehensive income (loss) | $ 8,253 | $ 22,738 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity - 3 months ended Mar. 31, 2018 - 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, 2017 | $ 796,479 | $ 429 | $ 282,385 | $ 546,843 | $ (31,104) | $ (2,074) |
Beginning Balance, shares at Dec. 31, 2017 | 42,899 | |||||
Stock-based compensation expense | 2,077 | 2,077 | ||||
Issuance of common stock under equity award plans, net of forfeitures | 59 | (59) | ||||
Issuance of common stock under equity award plans, net of forfeitures, Share | 18 | |||||
Shares repurchased for tax withholding on equity awards | (3,682) | $ (1) | (3,681) | |||
Shares repurchased for tax withholding on equity awards, Share | (118) | |||||
Comprehensive income (loss) | 8,253 | 10,948 | (2,695) | |||
Ending Balance at Mar. 31, 2018 | 806,146 | $ 428 | $ 280,840 | 560,810 | $ (33,799) | $ (2,133) |
Ending Balance, shares at Mar. 31, 2018 | 42,799 | |||||
Cumulative effect of accounting change | Accounting Standards Update 2014-09 [Member] | $ 3,019 | $ 3,019 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 10,948 | $ 18,712 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 14,964 | 13,476 |
Amortization of intangibles | 4,213 | 5,231 |
Amortization of deferred grants | (181) | (166) |
Impairment losses | 3,526 | 202 |
Unrealized foreign currency transaction (gains) losses, net | 194 | (1,405) |
Stock-based compensation expense | 2,077 | 2,471 |
Deferred income tax provision (benefit) | 584 | 429 |
Unrealized (gains) losses and premiums on financial instruments, net | 168 | 620 |
Amortization of deferred loan fees | 67 | 67 |
Imputed interest expense and fair value adjustments to contingent consideration | (399) | |
Other | 150 | 99 |
Changes in assets and liabilities: | ||
Receivables, net | (2,120) | (506) |
Prepaid expenses | (134) | (1,026) |
Other current assets | 665 | 107 |
Deferred charges and other assets | (1,496) | (839) |
Accounts payable | (4,413) | 679 |
Income taxes receivable / payable | (1,622) | 3,094 |
Accrued employee compensation and benefits | (1,832) | (2,962) |
Other accrued expenses and current liabilities | 3,766 | (1,698) |
Deferred revenue | (2,976) | (66) |
Other long-term liabilities | 2,071 | 1,105 |
Net cash provided by operating activities | 28,619 | 37,225 |
Cash flows from investing activities: | ||
Capital expenditures | (13,258) | (17,040) |
Purchase of intangible assets | (7,505) | |
Other | 2 | 10 |
Net cash (used for) investing activities | (20,761) | (17,030) |
Cash flows from financing activities: | ||
Payments of long-term debt | (175,000) | |
Shares repurchased for tax withholding on equity awards | (3,682) | (3,286) |
Payments of contingent consideration related to acquisitions | (126) | |
Other | 20 | 55 |
Net cash provided by (used for) financing activities | (178,662) | (3,357) |
Effects of exchange rates on cash, cash equivalents and restricted cash | (332) | 3,358 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (171,136) | 20,196 |
Cash, cash equivalents and restricted cash - beginning | 344,805 | 267,594 |
Cash, cash equivalents and restricted cash - ending | 173,669 | 287,790 |
Supplemental disclosures of cash flow information: | ||
Cash paid during period for interest | 1,042 | 1,464 |
Cash paid during period for income taxes | 4,754 | 2,923 |
Non-cash transactions: | ||
Property and equipment additions in accounts payable | 4,430 | 4,835 |
Unrealized gain (loss) on postretirement obligation, net of taxes in accumulated other comprehensive income (loss) | (10) | (13) |
Shares repurchased for tax withholding on equity awards included in current liabilities | $ 357 | $ 352 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Overview and Basis of Presentation | Note 1. Overview and Basis of Presentation Business — e-mail, 2017 Tax Reform Act In December 2017, the President of the United States (“U.S.”) signed into law the Tax Cuts and Jobs Act (the “2017 Tax Reform Act”). In general, the 2017 Tax Reform Act reduces the U.S. federal corporate tax rate from 35% to 21%, effective in 2018. The 2017 Tax Reform Act moves from a worldwide business taxation approach to a participation exemption regime. The 2017 Tax Reform Act also imposes base-erosion prevention measures on non-U.S. one-time non-U.S. Acquisition On April 24, 2017, the Company entered into a definitive Asset Purchase Agreement (the “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 “Telecommunications Asset acquisition”). 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 in the Americas segment since its acquisition on May 31, 2017. The Company accounted for the Telecommunications Asset acquisition in accordance with ASC 805, Business Combinations, Basis of Presentation — 10-Q S-X. 10-K Principles of Consolidation — Use of Estimates — Subsequent Events — Cash, Cash Equivalents and Restricted cash non-interest The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets that sum to the amounts reported in the Condensed Consolidated Statements of Cash Flows (in thousands): March 31, December 31, March 31, December 31, Cash and cash equivalents $ 172,590 $ 343,734 $ 286,830 $ 266,675 Restricted cash included in “Other current assets” 154 154 167 160 Restricted cash included in “Deferred charges and other assets” 925 917 793 759 $ 173,669 $ 344,805 $ 287,790 $ 267,594 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. As of March 31, 2018 and December 31, 2017, the Company did not identify any instances where the carrying values of its equity method investments were not recoverable. 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 net investment in XSell of $9.7 million and $9.8 million was included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017, respectively. 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 Sheets as of March 31, 2018 and December 31, 2017. The Company’s proportionate share of XSell’s income (loss) of $(0.1) million was included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations for the three months ended March 31, 2018 (none in 2017). Customer-Acquisition Advertising Costs Reclassifications New Accounting Standards Not Yet Adopted Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) 2016-02”). Leases The Company’s implementation team has compiled a detailed inventory of leases and a preliminary analysis of the impact to the financial statements. The Company continues to evaluate the critical factors of ASU 2016-02. 2016-02. 2016-02 right-of-use 2016-02. 2016-02 2016-02, Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) 2018-02”). 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 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”). New Accounting Standards Recently Adopted Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”) Financial Instruments In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10) 2016-01”). Fair Value Measurements 2016-01 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 In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 118 2018-05”). Income Tax Accounting Implications of the Tax Cuts and Jobs Act 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”). The Company adopted the income statement presentation aspects of ASU 2017-07 As Previously Reported Adjustments Due to the Adoption of ASU 2017-07 As Revised Three Months Ended March 31, 2017: Direct salaries and related costs $ 247,165 $ (29 ) $ 247,136 General and administrative 92,054 (10 ) 92,044 Income from operations 26,014 39 26,053 Other income (expense), net 852 (39 ) 813 |
Revenues
Revenues | 3 Months Ended |
Mar. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | |
Revenues | Note 2. Revenues Adoption of ASC 606, Revenue from Contracts with Customers On January 1, 2018, the Company adopted ASC 606, which includes ASU 2014-09 Revenue Recognition The Company recorded an increase to opening retained earnings of $3.0 million as of January 1, 2018 due to the cumulative impact of adopting ASC 606. The impact, all in the Americas segment, primarily related to the change in timing of revenue recognition associated with certain customer contracts that provide fees upon renewal, as well as changes in estimating variable consideration with respect to penalties and holdback provisions for failure to meet specified minimum service levels and other performance-based contingencies. Revenue recognized under ASC 606 is expected to be slightly higher during 2018 than revenue would have been under ASC 605. This is primarily attributable to the change in the timing of revenue recognition, as discussed above. The impact on revenue recognized for the first quarter of 2018 is reported below. The cumulative effect of the adjustments made to the Company’s Condensed Consolidated Balance Sheet as of December 31, 2017 for the line items impacted by the adoption of ASC 606 was as follows (in thousands): December 31, Adjustments Due to the Adoption of ASC 606 January 1, Receivables, net $ 341,958 $ 825 $ 342,783 Deferred charges and other assets 29,193 2,045 31,238 Income taxes payable 2,606 697 3,303 Deferred revenue 34,717 (1,048 ) 33,669 Other long-term liabilities 22,039 202 22,241 Retained earnings 546,843 3,019 549,862 The financial statement line items impacted by the adoption of ASC 606 in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2018 were as follows (in thousands): As Reported Balances Without the Impact of the Adoption Effect of Adoption Increase (Decrease) March 31, 2018: Receivables, net $ 346,920 $ 343,750 $ 3,170 Deferred charges and other assets 32,618 29,365 3,253 Income taxes payable 2,698 1,133 1,565 Deferred revenue 30,217 32,697 (2,480 ) Other long-term liabilities 24,670 24,242 428 Retained earnings 560,810 553,900 6,910 The financial statement line items impacted by the adoption of ASC 606 in the Company’s Condensed Consolidated Statement of Operations for the three months ended March 31, 2018 were as follows, along with the impact per share (in thousands, except per share data): As Reported Balances Without the Impact of the ASC 606 Adoption Effect of Adoption Increase (Decrease) Three Months Ended March 31, 2018: Revenues $ 414,371 $ 409,320 $ 5,051 Income from operations 14,284 9,233 5,051 Income before income taxes 13,404 8,353 5,051 Income taxes 2,456 1,296 1,160 Net income 10,948 7,057 3,891 Net income per common share: Basic $ 0.26 $ 0.17 $ 0.09 Diluted $ 0.26 $ 0.17 $ 0.09 The Company’s net cash provided by operating activities for the three months ended March 31, 2018 did not change due to the adoption of ASC 606. Practical Expedients The Company utilized the practical expedient that allows for the application of ASC 606 to a portfolio of contracts (or performance obligations) with similar characteristics if the entity reasonably expects that the effects on the financial statements of applying this guidance to the portfolio would not differ materially from applying this guidance to the individual contracts (or performance obligations) within that portfolio. Costs of Obtaining Customer Contracts ASC 606 requires an entity to recognize as an asset the incremental costs of obtaining a contract with a customer if the entity expects to recover those costs. The incremental costs of obtaining a contract are those costs that an entity incurs to obtain a contract with a customer that it would not have incurred if the contract had not been obtained (e.g. a sales commission). Because the Company’s sales commissions are not directly incremental to obtaining customer contracts, they are expensed as incurred. Recognition of Revenues Accounting Policy The Company’s “Recognition of Revenues” accounting policy under ASC 606 is outlined below. For the Company’s accounting policy under ASC 605, see Note 1, Overview and Summary of Significant Accounting Policies, of the Company’s Annual Report on Form 10-K The Company recognizes revenues in accordance with ASC 606, whereby revenues are recognized when control of the promised goods or services is transferred to the Company’s customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services. Customer Engagement Solutions and Services Under ASC 606, the Company accounts for a contract with a client when it has approval, the contract is committed, the rights of the parties, including payment terms, are identified, the contract has commercial substance and consideration is probable of collection. The Company’s customer engagement solutions and services are classified as stand-ready performance obligations. Because the Company’s customers simultaneously receive and consume the benefits of its services as they are delivered, the performance obligations are satisfied over time. The Company recognizes revenue over time using output methods such as a per minute, per hour, per call, per transaction or per time and materials basis. These output methods faithfully depict the satisfaction of the Company’s obligation to deliver the services as requested and represent a direct measurement of value to the customer. The Company’s contracts have a single performance obligation as the promise to transfer the customer solutions and services are not separately identifiable from other promises in the contract, and therefore not distinct. Revenue recognition is limited to the established transaction price, the amount to which the Company expects to be entitled to under the contract, including the amount of expected fees for those contracts with renewal provisions and the amount that is not contingent upon delivery of any future product or service or meeting other specified performance obligations. The Company’s contracts include penalties and holdbacks provisions for failure to meet specified minimum service levels and other performance-based contingencies, as well as the right of certain of the Company’s clients to chargeback accounts that do not meet certain requirements for specified periods after a sale has occurred. The portion of the transaction price that is subject to service level, performance-based contingencies, and other chargeback provisions is deferred until such contingency is resolved. Certain customers also receive cash discounts for early payment. These provisions are accounted for as variable consideration and are estimated using historical service and pricing trends, the individual contract provisions, and the Company’s best judgment at the time. None of these variable consideration components are subject to constraint due to the short time period to resolution, the Company’s extensive history with similar transactions, and the limited number of possible outcomes and third-party influence. The transaction price, once determined, is allocated to the single performance obligation on a contract by contract basis. The Company’s primary billing terms are that payment is due upon receipt of the invoice, payable usually within 30 or 60 days. Invoices are generally issued on a monthly basis as control transfers and/or services are rendered. While the Company’s contracts with customers can range from 30 days to six years, the majority include termination without cause provisions allowing either party to cancel the contract without penalty at any time. Under these circumstances, the contract term ends when control of the services already provided transfers to the customer (e.g., month-to-month 90-day Other Revenues In the Americas, the Company provides a range of enterprise support services including technical staffing services and outsourced corporate help desk services, primarily in the U.S. Revenue for enterprise support services are recognized over time using output methods such as number of positions filled similar to Company’s outsourced customer engagement services and solutions. In EMEA, the Company offers fulfillment services that are integrated with its customer care and technical support services. The Company’s fulfillment solutions include order processing, payment processing, inventory control, product delivery and product returns handling. Sales are recognized upon shipment to the customer and satisfaction of all obligations. The Company also has miscellaneous other revenue in the Other segment. In total, other revenues are immaterial, representing 0.5% and 0.6% of the Company’s consolidated total revenues for the three months ended March 31, 2018 and 2017, respectively. Disaggregated Revenues The Company disaggregates its revenues from contracts with customers by service type and geographic location (see Note 15, Segments and Geographic Information), for each of its reportable segments, as the Company believes it best depicts how the nature, amount, timing and uncertainty of its revenue and cash flows are affected by economic factors. The following table represents revenues from contracts with customers disaggregated by service type for the three months ended March 31, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended March 31, 2018 2017 Americas: Customer engagement solutions and services $ 340,422 $ 320,663 Other revenues 299 268 Total Americas 340,721 320,931 EMEA: Customer engagement solutions and services 71,671 61,068 Other revenues 1,956 1,999 Total EMEA 73,627 63,067 Other: Other revenues 23 16 Total Other 23 16 $ 414,371 $ 384,014 Trade Accounts Receivable The Company’s trade accounts receivable, net, consists of the following (in thousands): March 31, January 1, (3) Trade accounts receivable, net, current (1) $ 335,255 $ 332,014 Trade accounts receivable, net, noncurrent (2) 3,353 2,078 $ 338,608 $ 334,092 (1) (2) (3) The Company’s noncurrent trade accounts receivable result from contracts with customers that include renewal provisions that take effect subsequent to the satisfaction of the associated performance obligations. Payment is expected upon renewal, which occurs in bi-annual and annual increments over the associated expected contract term, the majority of which range from two to five years. Deferred Revenue The Company receives up-front pro-rata up-front Deferred revenue from estimated potential penalties and holdbacks results from the failure to meet specified minimum service levels in certain contracts and other performance-based contingencies. Deferred revenue from estimated chargebacks reflects the right of certain of the Company’s clients to chargeback accounts that do not meet certain requirements for specified periods after a sale has occurred. Deferred revenue consists of the following (in thousands): March 31, January 1, (1) Future services $ 22,353 $ 26,353 Estimated potential penalties and holdbacks 3,462 3,291 Estimated chargebacks 4,402 4,025 $ 30,217 $ 33,669 (1) The following table reflects the revenue recognized during the three months ended March 31, 2018 that was included in “Deferred revenue” as of January 1, 2018 (in thousands): Future Services Estimated Potential Penalties and Holdbacks Estimated Chargebacks Total Revenue recognized in the period $ 6,840 $ 305 $ 119 $ 7,264 Deferred revenue classified as future services represents the transaction price allocated to the performance obligations that remain unsatisfied at period end. Such obligations are then satisfied over time. While these balances are classified as current due to cancellation and refund provisions whereby the customers can terminate the contracts and demand pro-rata up-front up-front Of the consolidated deferred future services balance as of March 31, 2018, the Company expects to recognize revenue as outlined below (in thousands): Future Within 1 year $ 17,138 1 - 2 years 2,451 2 - 3 years 1,184 3 - 4 years 790 Thereafter 790 $ 22,353 The amount of revenue recognized in the current period associated with estimated potential penalties, holdbacks and chargebacks represents the Company’s satisfaction of service level and other performance-based contingencies, as well as the satisfaction of certain client requirements during the period after sale that were previously unsettled as of January 1, 2018. Of the remaining contract liabilities for estimated potential penalties, holdbacks and chargebacks as of March 31, 2018, the Company expects to recognize the entire balance as revenue within 30 to 120 days if the requisite service levels and client requirements are met in order to settle the contingency. Other changes to the opening and closing balances of these estimated potential penalties, holdbacks, and chargebacks include the establishment of new contingency-based deferrals associated with current period services performed, as well as client settlements for both previously recorded service level requirements and current period requirements that were not met. With respect to the remaining customer engagement solutions and services contracts accounted for as stand-ready performance obligations each period, there are no unsatisfied performance obligations at period end as the customer simultaneously receives and consumes the benefit of the services as they are delivered over time. |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 3. 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 March 31, 2018 (in thousands): Fair Value Measurements Using: Balance at Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, Level 1 Level 2 Level 3 Assets: Foreign currency forward and option contracts (1) $ 1,239 $ - $ 1,239 $ - Embedded derivatives (1) 43 - - 43 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,266 8,266 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 3,407 3,407 - - $ 12,955 $ 11,673 $ 1,239 $ 43 Liabilities: Foreign currency forward and option contracts (1) $ 1,005 $ - $ 1,005 $ - Embedded derivatives (1) 452 - - 452 $ 1,457 $ - $ 1,005 $ 452 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, 2017 (in thousands): Fair Value Measurements Using: Balance at Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, Level 1 Level 2 Level 3 Assets: Foreign currency forward and option contracts (1) $ 3,848 $ - $ 3,848 $ - Embedded derivatives (1) 52 - - 52 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,094 8,094 - - Debt investments held in rabbi trust for the Deferred Compensation (2) 3,533 3,533 - - $ 15,527 $ 11,627 $ 3,848 $ 52 Liabilities: Foreign currency forward and option contracts (1) $ 256 $ - $ 256 $ - Embedded derivatives (1) 579 - - 579 $ 835 $ - $ 256 $ 579 (1) (2) 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 March 31, 2018 2017 Balance at the beginning of the period $ (527 ) $ (555 ) Gains (losses) recognized in “Other income (expense), net” 87 139 Settlements 42 45 Effect of foreign currency (11 ) (4 ) Balance at the end of the period $ (409 ) $ (375 ) Change in unrealized gains (losses) included in “Other income (expense), net” related to embedded derivatives held at the end of the period $ 87 $ 141 Contingent Consideration A rollforward of the activity in the Company’s fair value of the contingent consideration (liability) is as follows (none in 2018) (in thousands): Three Months Ended March 31, 2017 Balance at the beginning of the period $ (6,100 ) Imputed interest (34 ) Fair value gain (loss) adjustments (1) 433 Settlements 126 Effect of foreign currency (58 ) Balance at the end of the period $ (5,633 ) Change in unrealized gains (losses) included in “General and administrative” related to contingent consideration outstanding at the end of the period $ - (1) The Company recorded a fair value gain of $0.4 million in “General and administrative” during the three months ended March 31, 2017 to the Clearlink contingent consideration upon settlement of one of the contingent consideration liabilities. All outstanding Clearlink contingent consideration liabilities were paid prior to December 31, 2017. The Company paid $4.4 million in May 2017 to settle the outstanding Qelp contingent consideration obligation. The Company accreted interest expense each period using the effective interest method until the contingent consideration reached the estimated future value. Interest expense related to the contingent consideration was included in “Interest (expense)” in the accompanying Condensed Consolidated Statement of Operations for the three months ended March 31, 2017. 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 March 31, 2018 and December 31, 2017. 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): Total Impairment (Loss) Three Months Ended March 31, 2018 2017 Americas: Property and equipment, net $ (3,526 ) $ (202 ) In connection with the closure of certain under-utilized customer contact management centers in the U.S. and Canada, the Company recorded an impairment charge of $3.5 million related to leasehold improvements, equipment, furniture and fixtures which were not recoverable during the three months ended March 31, 2018. The Company 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 three months ended March 31, 2017. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 4. Goodwill and Intangible Assets Intangible Assets The following table presents the Company’s purchased intangible assets as of March 31, 2018 (in thousands): Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 170,550 $ (98,417 ) $ 72,133 10 Trade names and trademarks 14,141 (9,228 ) 4,913 7 Non-compete 1,820 (1,204 ) 616 3 Content library 556 (556 ) - 2 Proprietary software 1,040 (620 ) 420 4 Intangible assets not subject to amortization: Domain names 65,541 - 65,541 N/A $ 253,648 $ (110,025 ) $ 143,623 5 The following table presents the Company’s purchased intangible assets as of December 31, 2017 (in thousands): Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 170,853 $ (95,175 ) $ 75,678 10 Trade names and trademarks 14,138 (8,797 ) 5,341 7 Non-compete 1,820 (1,052 ) 768 3 Content library 542 (542 ) - 2 Proprietary software 1,040 (585 ) 455 4 Intangible assets not subject to amortization: Domain names 58,035 - 58,035 N/A $ 246,428 $ (106,151 ) $ 140,277 6 The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to March 31, 2018 is as follows (in thousands): Years Ending December 31, Amount 2018 (remaining nine months) $ 10,925 2019 14,083 2020 11,405 2021 6,849 2022 5,739 2023 4,882 2024 and thereafter 24,199 Goodwill Changes in goodwill for the three months ended March 31, 2018 consist of the following (in thousands): January 1, Acquisition Effect of Foreign Currency March 31, Americas $ 258,496 $ - $ (1,589 ) $ 256,907 EMEA 10,769 - 260 11,029 $ 269,265 $ - $ (1,329 ) $ 267,936 Changes in goodwill for the year ended December 31, 2017 consist of the following (in thousands): January 1, Acquisition Effect of Foreign Currency December 31, Americas $ 255,842 $ 390 $ 2,264 $ 258,496 EMEA 9,562 - 1,207 10,769 $ 265,404 $ 390 $ 3,471 $ 269,265 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 March 31, 2018, the Company believes there were no indicators of impairment related to Qelp’s $11.0 million of goodwill or Clearlink’s $71.0 million of goodwill. |
Financial Derivatives
Financial Derivatives | 3 Months Ended |
Mar. 31, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | Note 5. 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): March 31, December 31, Deferred gains (losses) in AOCI $ (466 ) $ 2,550 Tax on deferred gains (losses) in AOCI 44 (79 ) Deferred gains (losses) in AOCI, net of taxes $ (422 ) $ 2,471 Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (371 ) Deferred gains (losses) and other future reclassifications from AOCI will fluctuate with movements in the underlying market price of the forward contracts and options. 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): March 31, 2018 December 31, 2017 Contract Type Notional Amount in Settle Through Date Notional Amount in USD Settle Through Date Cash flow hedges: Options: US Dollars/Philippine Pesos $ 92,500 March 2019 $ 78,000 December 2018 Forwards: US Dollars/Philippine Pesos 34,000 June 2019 3,000 June 2018 US Dollars/Costa Rican Colones 83,000 June 2019 70,000 March 2019 Euros/Hungarian Forints 2,747 December 2018 3,554 December 2018 Euros/Romanian Leis 10,792 December 2018 13,977 December 2018 Non-designated Forwards 9,100 June 2018 9,253 March 2018 Embedded derivatives 13,960 April 2030 13,519 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 March 31, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 1,239 $ 3,604 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) - 244 Embedded derivatives (1) 8 9 Embedded derivatives (2) 35 43 Total derivative assets $ 1,282 $ 3,900 Derivative Liabilities March 31, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 701 $ 175 Foreign currency forward and option contracts (4) 95 81 796 256 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) 209 - Embedded derivatives (3) 133 189 Embedded derivatives (4) 319 390 Total derivative liabilities $ 1,457 $ 835 (1) (2) (3) (4) The following table presents the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended March 31, 2018 and 2017 (in thousands): Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) Gain (Loss) Reclassified From AOCI Into “Revenues” (Effective Portion) Gain (Loss) Recognized in “Revenues” on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) March 31, March 31, March 31, 2018 2017 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (2,696 ) $ (234 ) $ 237 $ (760 ) $ 6 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts - (599 ) - - - - $ (2,696 ) $ (833 ) $ 237 $ (760 ) $ 6 $ - The following table presents the gains (losses) recognized in “Other income (expense), net” of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended March 31, 2018 2017 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (1,169 ) $ (839 ) Embedded derivatives 87 139 $ (1,082 ) $ (700 ) |
Investments Held in Rabbi Trust
Investments Held in Rabbi Trust | 3 Months Ended |
Mar. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments Held in Rabbi Trust | Note 6. 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): March 31, 2018 December 31, 2017 Cost Fair Value Cost Fair Value Mutual funds $ 8,221 $ 11,673 $ 8,096 $ 11,627 The mutual funds held in rabbi trust were 71% equity-based and 29% debt-based as of March 31, 2018. 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 March 31, 2018 2017 Net realized gains (losses) from sale of trading securities $ 5 $ - Dividend and interest income 25 14 Net unrealized holding gains (losses) (55 ) 393 Net investment income (losses) $ (25 ) $ 407 |
Deferred Grants
Deferred Grants | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Deferred Grants | Note 7. Deferred Grants Deferred grants, net of accumulated amortization, consist of the following (in thousands): March 31, 2018 December 31, 2017 Property grants $ 2,714 $ 2,843 Lease grants 496 507 Employment grants 59 61 Total deferred grants 3,269 3,411 Less: Lease grants - short-term (1) (121 ) (117 ) Less: Employment grants - short-term (1) (59 ) (61 ) Total long-term deferred grants $ 3,089 $ 3,233 (1) |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 8. Borrowings On May 12, 2015, the Company entered into a $440 million revolving credit facility (the “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 Credit Agreement is subject to certain borrowing limitations and includes certain customary financial and restrictive covenants. The Credit Agreement includes a $200 million alternate-currency sub-facility, sub-facility sub-facility, The Credit Agreement matures on May 12, 2020, and had outstanding borrowings of $100.0 million and $275.0 million at March 31, 2018 and December 31, 2017, respectively, included in “Long-term debt” in the accompanying Condensed Consolidated Balance Sheets. Borrowings under the Credit Agreement bear interest at the rates set forth in the 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 Credit Agreement. The 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 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 March 31, 2018 2017 Average daily utilization $ 121,389 $ 267,000 Interest expense (1), (2) $ 1,001 $ 1,443 Weighted average interest rate (2) 3.4 % 2.2 % (1) (2) On January 12, 2018, the Company repaid $175.0 million of long-term debt outstanding under its Credit Agreement, primarily using funds repatriated from its foreign subsidiaries, resulting in a remaining outstanding debt balance of $100.0 million. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 9. 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 Currency Translation Gain (Loss) Unrealized Gain (Loss) on Net Investment Hedge Unrealized Gain (Loss) on Cash Flow Hedging Instruments Unrealized Actuarial Gain (Loss) Related to Pension Liability Unrealized Gain (Loss) on Post Retirement Obligation Total Balance at January 1, 2017 $ (72,393 ) $ 6,266 $ (2,225 ) $ 1,125 $ 200 $ (67,027 ) Pre-tax 36,101 (8,352 ) 2,276 527 (30 ) 30,522 Tax (provision) benefit - 3,132 (54 ) (18 ) - 3,060 Reclassification of (gain) loss to net income - - 2,444 (53 ) (50 ) 2,341 Foreign currency translation (23 ) - 30 (7 ) - - Balance at December 31, 2017 (36,315 ) 1,046 2,471 1,574 120 (31,104 ) Pre-tax 144 - (2,690 ) - - (2,546 ) Tax (provision) benefit - - 126 3 - 129 Reclassification of (gain) loss to net income - - (250 ) (18 ) (10 ) (278 ) Foreign currency translation 147 - (79 ) (68 ) - - Balance at March 31, 2018 $ (36,024 ) $ 1,046 $ (422 ) $ 1,491 $ 110 $ (33,799 ) 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 March 31, Statements of Operations 2018 2017 Location Gain (Loss) on Cash Flow Hedging Instruments: (1) Pre-tax 243 (760 ) Revenues Tax (provision) benefit 7 41 Income taxes Reclassification to net income 250 (719 ) Actuarial Gain (Loss) Related to Pension Liability: (2) Pre-tax $ 15 $ 10 Other income Tax (provision) benefit 3 - Income taxes Reclassification to net income 18 10 Gain (Loss) on Post Retirement Obligation: (2),(3) Reclassification to net income 10 12 Other income Total reclassification of gain (loss) to net income $ 278 $ (697 ) (1) (2) (3) As discussed in Note 10, Income Taxes, for periods prior to December 31, 2017, any remaining outside basis differences 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 has been provided. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 10. Income Taxes The Company’s effective tax rates were 18.3% and 26.1% for the three months ended March 31, 2018 and 2017, respectively. The decrease in the effective tax rate is due to a benefit of $0.6 million from the reduction in the U.S. federal corporate tax rate from 35% to 21% as a result of the 2017 Tax Reform Act. This was partially offset by a $0.6 million decrease in the amount of excess tax benefits from stock-based compensation recognized in March 31, 2018 as compared to March 31, 2017. For the three months ended March 31, 2018 and 2017, the Company recognized a discrete tax benefit related to the excess tax benefits from stock-based compensation of $0.3 million and $0.9 million, respectively. The decrease in the effective tax rate was also significantly affected by shifts in earnings among the various jurisdictions in which the Company operates. Several additional factors, none of which are individually material, also impacted the rate. The difference between the Company’s effective tax rate as compared to the U.S. statutory federal tax rate of 21.0% was primarily due to the aforementioned factors as well as the recognition of tax benefits resulting from foreign tax rate differentials, income earned in certain tax holiday jurisdictions and tax credits, partially offset by the tax impact of permanent differences, state income and foreign withholding. The 2017 Tax Reform Act made significant changes to the Internal Revenue Code, including, but not limited to, a federal corporate tax rate decrease from 35% to 21% for tax years beginning after December 31, 2017, the transition of U.S. international taxation from a worldwide tax system to a participation exemption regime, and a one-time one-time Prior to December 31, 2017, no additional income taxes have been provided for any remaining outside basis differences inherent in the Company’s investments in its foreign subsidiaries as these amounts continue to be indefinitely reinvested in foreign operations. Determining the amount of unrecognized deferred tax liability related to any remaining outside basis difference in these entities is not practicable due to the inherent complexity of the multi-national tax environment in which the Company operates. On December 22, 2017, the SEC issued SAB 118 to address the application of U.S. GAAP in situations when a registrant does not have the necessary information available, prepared, or analyzed (including computations) in reasonable detail to complete the accounting for certain income tax effects of the 2017 Tax Reform Act. In accordance with SAB 118, the Company has determined that the deferred tax benefit recorded in connection with the remeasurement of certain deferred tax assets and liabilities and the current tax expense recorded in connection with the transition tax on the mandatory deemed repatriation of foreign earnings was a provisional amount and a reasonable estimate at March 31, 2018 and December 31, 2017. Additional work is necessary for a more detailed analysis of the Company’s deferred tax assets and liabilities and its historical foreign earnings as well as potential correlative adjustments. Any subsequent adjustment to these amounts will be recorded to current tax expense in the quarter of identification, but no later than one year from the enactment date. The 2017 Tax Reform Act instituted a number of new provisions effective January 1, 2018, including GILTI, Foreign Derived Intangible Income (“FDII”) and Base Erosion and Anti-Abuse Tax (“BEAT”). The Company made a reasonable estimate of the impact of each of these provisions of the 2017 Tax Reform Act on its effective tax rate for the three months ended March 31, 2018 and determined that the resulting impact was not material. The Company will continue to refine its provisional estimates related to the GILTI, FDII and BEAT rules as additional information is made available. 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. 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 an income tax benefit of $1.2 million, net of the U.S. tax impact, at that time 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 conditions and results of operations. |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 11. 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 March 31, 2018 2017 Basic: Weighted average common shares outstanding 41,939 41,654 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 293 251 Total weighted average diluted shares outstanding 42,232 41,905 Anti-dilutive shares excluded from the diluted earnings per share calculation 9 9 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. There were no shares repurchased under the Company’s share repurchase program during the three months ended March 31, 2018 and 2017. |
Commitments and Loss Contingenc
Commitments and Loss Contingency | 3 Months Ended |
Mar. 31, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Loss Contingency | Note 12. Commitments and Loss Contingency Commitments During the three months ended March 31, 2018, 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 March 31, 2018 (in thousands): Amount 2018 (remaining nine months) $ 336 2019 2,779 2020 2,887 2021 2,949 2022 2,976 2023 2,524 2024 and thereafter 6,778 Total minimum payments required $ 21,229 During the three months ended March 31, 2018, 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 March 31, 2018 (in thousands): Amount 2018 (remaining nine months) $ 6,863 2019 3,270 2020 253 2021 - 2022 - 2023 - 2024 and thereafter - Total minimum payments required $ 10,386 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, has 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 | 3 Months Ended |
Mar. 31, 2018 | |
Retirement Benefits [Abstract] | |
Defined Benefit Pension Plan and Postretirement Benefits | Note 13. 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 March 31, 2018 2017 Service cost $ 114 $ 125 Interest cost 50 49 Recognized actuarial (gains) (15 ) (10 ) Net periodic benefit cost $ 149 $ 164 The Company’s service cost for its qualified pension plans was included in “Direct salaries and related costs” and “General and administrative” costs in its Condensed Consolidated Statement of Operations for the three months ended March 31, 3018 and 2017. The remaining components of net periodic benefit cost were included in “Other income (expense), net” in the Company’s Condensed Consolidated Statement of Operations for the three months ended March 31, 2018 and 2017. See Note 1, Overview and Basis of Presentation, for further information related to the adoption of ASU 2016-18. 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 March 31, 2018 2017 401(k) plan contributions $ 459 $ 311 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): March 31, December 31, Postretirement benefit obligation $ 14 $ 15 Unrealized gains (losses) in AOCI (1) 110 120 (1) |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Note 14. Stock-Based Compensation The Company’s stock-based compensation plans include the 2011 Equity Incentive Plan, the Non-Employee Three Months Ended March 31, 2018 2017 Stock-based compensation (expense) (1) $ (2,077 ) $ (2,471 ) Income tax benefit (2) 498 951 (1) (2) There were no capitalized stock-based compensation costs as of March 31, 2018 and December 31, 2017. Beginning January 1, 2017, as a result of the adoption of ASU 2016-09, Compensation – Stock Compensation (Topic 718) – Improvements to Employee Share-Based Payment Accounting 2016-09”), 2016-09. 2011 Equity Incentive Plan — non-employees Stock Appreciation Rights — one-third The following table summarizes SARs activity as of March 31, 2018 and for the three months then ended: Stock Appreciation Rights Shares (000s) Weighted Average Exercise Price Weighted Average Remaining Term (in years) Aggregate Intrinsic Value (000s) Outstanding at January 1, 2018 734 $ - Granted - $ - Exercised (43 ) $ - Forfeited or expired - $ - Outstanding at March 31, 2018 691 $ - 8.3 $ 597 Vested or expected to vest at March 31, 2018 691 $ - 8.3 $ 597 Exercisable at March 31, 2018 363 $ - 7.8 $ 597 The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): Three Months Ended March 31, 2018 2017 Number of SARs granted - - Weighted average grant-date fair value per SAR $ - $ - Intrinsic value of SARs exercised $ 305 $ 306 Fair value of SARs vested $ 1,950 $ 1,846 The following table summarizes nonvested SARs activity as of March 31, 2018 and for the three months then ended: Nonvested Stock Appreciation Rights Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 600 $ 6.88 Granted - $ - Vested (272 ) $ 7.16 Forfeited or expired - $ - Nonvested at March 31, 2018 328 $ 6.64 As of March 31, 2018, there was $2.1 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 1.3 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 March 31, 2018 and for the three months then ended: Nonvested Restricted Shares and RSUs Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 1,109 $ 28.50 Granted - $ - Vested (323 ) $ 25.78 Forfeited or expired (41 ) $ 25.78 Nonvested at March 31, 2018 745 $ 29.83 The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): Three Months Ended March 31, 2018 2017 Number of restricted shares/RSUs granted - - Weighted average grant-date fair value per restricted share/RSU $ - $ - Fair value of restricted shares/RSUs vested $ 8,342 $ 6,868 As of March 31, 2018, there was $19.9 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 1.5 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 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 March 31, 2018 and for the three months then ended: Nonvested Common Stock Share Awards Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 8 $ 32.21 Granted - $ - Vested (7 ) $ 32.74 Forfeited or expired - $ - Nonvested at March 31, 2018 1 $ 29.36 The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): Three Months Ended March 31, 2018 2017 Number of share awards granted - - Weighted average grant-date fair value per share award $ - $ - Fair value of share awards vested $ 210 $ 220 As of March 31, 2018, there was less than $0.1 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 March 31, 2018 and December 31, 2017, liabilities of $11.6 million and $11.6 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 $2.1 million as of March 31, 2018 and December 31, 2017, respectively, is included in “Treasury stock” in the accompanying Condensed Consolidated Balance Sheets. The following table summarizes nonvested common stock activity as of March 31, 2018 and for the three months then ended: Nonvested Common Stock Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 3 $ 29.56 Granted 5 $ 28.94 Vested (4 ) $ 28.99 Forfeited or expired - $ - Nonvested at March 31, 2018 4 $ 29.34 The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): Three Months Ended March 31, 2018 2017 Number of shares of common stock granted 5 7 Weighted average grant-date fair value per common stock $ 28.94 $ 29.40 Fair value of common stock vested $ 117 $ 162 Cash used to settle the obligation $ 249 $ 9 As of March 31, 2018, 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 | 3 Months Ended |
Mar. 31, 2018 | |
Segment Reporting [Abstract] | |
Segments and Geographic Information | Note 15. 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 March 31, 2018: Revenues $ 340,721 $ 73,627 $ 23 $ 414,371 Percentage of revenues 82.2 % 17.8 % 0.0 % 100.0 % Depreciation, net $ 12,683 $ 1,411 $ 742 $ 14,836 Amortization of intangibles $ 3,992 $ 221 $ - $ 4,213 Income (loss) from operations $ 25,864 $ 4,639 $ (16,219 ) $ 14,284 Total other income (expense), net (880 ) (880 ) Income taxes (2,456 ) (2,456 ) Net income $ 10,948 Three Months Ended March 31, 2017: Revenues $ 320,931 $ 63,067 $ 16 $ 384,014 Percentage of revenues 83.6 % 16.4 % 0.0 % 100.0 % Depreciation, net $ 11,468 $ 1,186 $ 694 $ 13,348 Amortization of intangibles $ 4,978 $ 253 $ - $ 5,231 Income (loss) from operations $ 37,972 $ 5,580 $ (17,499) $ 26,053 Total other income (expense), net (731 ) (731 ) Income taxes (6,610 ) (6,610 ) Net income $ 18,712 (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. The following table represents a disaggregation of revenue from contracts with customers by geographic location for the three months ended March 31, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended March 31, 2018 2017 Americas: United States $ 171,446 $ 153,643 The Philippines 60,086 58,540 Costa Rica 32,075 33,325 Canada 27,189 29,722 El Salvador 20,011 18,345 People’s Republic of China 9,348 9,260 Australia 7,702 6,649 Mexico 6,318 5,609 Other 6,546 5,838 Total Americas 340,721 320,931 EMEA: Germany 24,175 20,438 Sweden 14,130 14,301 United Kingdom 13,347 9,735 Romania 8,136 6,393 Other 13,839 12,200 Total EMEA 73,627 63,067 Total Other 23 16 $ 414,371 $ 384,014 Revenues are attributed to countries based on location of customer, except for revenues for The Philippines, Costa Rica, the People’s Republic of China and India which are primarily comprised of customers located in the U.S., but serviced by centers in those respective geographic locations. |
Other Income (Expense)
Other Income (Expense) | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense) | Note 16. Other Income (Expense) Other income (expense), net consists of the following (in thousands): Three Months Ended March 31, 2018 2017 Foreign currency transaction gains (losses) $ 1,448 $ 1,179 Gains (losses) on derivative instruments not designated as hedges (1,082 ) (700 ) Other miscellaneous income (expense) (211 ) 334 $ 155 $ 813 |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 17. 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 former 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 Present25
Overview and Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | Business — e-mail, 2017 Tax Reform Act In December 2017, the President of the United States (“U.S.”) signed into law the Tax Cuts and Jobs Act (the “2017 Tax Reform Act”). In general, the 2017 Tax Reform Act reduces the U.S. federal corporate tax rate from 35% to 21%, effective in 2018. The 2017 Tax Reform Act moves from a worldwide business taxation approach to a participation exemption regime. The 2017 Tax Reform Act also imposes base-erosion prevention measures on non-U.S. one-time non-U.S. Acquisition On April 24, 2017, the Company entered into a definitive Asset Purchase Agreement (the “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 “Telecommunications Asset acquisition”). 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 in the Americas segment since its acquisition on May 31, 2017. The Company accounted for the Telecommunications Asset acquisition in accordance with ASC 805, Business Combinations, |
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 — |
Cash, Cash Equivalents and Restricted Cash | Cash, Cash Equivalents and Restricted cash non-interest The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets that sum to the amounts reported in the Condensed Consolidated Statements of Cash Flows (in thousands): March 31, December 31, March 31, December 31, Cash and cash equivalents $ 172,590 $ 343,734 $ 286,830 $ 266,675 Restricted cash included in “Other current assets” 154 154 167 160 Restricted cash included in “Deferred charges and other assets” 925 917 793 759 $ 173,669 $ 344,805 $ 287,790 $ 267,594 |
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. As of March 31, 2018 and December 31, 2017, the Company did not identify any instances where the carrying values of its equity method investments were not recoverable. 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 net investment in XSell of $9.7 million and $9.8 million was included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets as of March 31, 2018 and December 31, 2017, respectively. 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 Sheets as of March 31, 2018 and December 31, 2017. The Company’s proportionate share of XSell’s income (loss) of $(0.1) million was included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations for the three months ended March 31, 2018 (none in 2017). |
Customer-Acquisition Advertising Costs | Customer-Acquisition Advertising Costs |
Reclassifications | Reclassifications |
New Accounting Standards Not Yet Adopted | New Accounting Standards Not Yet Adopted Leases In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, Leases (Topic 842) 2016-02”). Leases The Company’s implementation team has compiled a detailed inventory of leases and a preliminary analysis of the impact to the financial statements. The Company continues to evaluate the critical factors of ASU 2016-02. 2016-02. 2016-02 right-of-use 2016-02. 2016-02 2016-02, Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) 2018-02”). 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 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”). |
New Accounting Standards Recently Adopted | New Accounting Standards Recently Adopted Revenue from Contracts with Customers In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”) Financial Instruments In January 2016, the FASB issued ASU 2016-01, Financial Instruments – Overall (Subtopic 825-10) 2016-01”). Fair Value Measurements 2016-01 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 In January 2018, the FASB released guidance on the accounting for tax on the global intangible low-taxed In March 2018, the FASB issued ASU 2018-05, Income Taxes (Topic 740): Amendments to SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 118 2018-05”). Income Tax Accounting Implications of the Tax Cuts and Jobs Act 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”). The Company adopted the income statement presentation aspects of ASU 2017-07 As Previously Reported Adjustments Due to the Adoption of ASU 2017-07 As Revised Three Months Ended March 31, 2017: Direct salaries and related costs $ 247,165 $ (29 ) $ 247,136 General and administrative 92,054 (10 ) 92,044 Income from operations 26,014 39 26,053 Other income (expense), net 852 (39 ) 813 |
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 — |
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 |
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 |
Overview and Basis of Present26
Overview and Basis of Presentation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Summary of Cash and Cash Equivalents and Restricted Cash | The following table provides a reconciliation of cash and cash equivalents and restricted cash reported in the Condensed Consolidated Balance Sheets that sum to the amounts reported in the Condensed Consolidated Statements of Cash Flows (in thousands): March 31, December 31, March 31, December 31, Cash and cash equivalents $ 172,590 $ 343,734 $ 286,830 $ 266,675 Restricted cash included in “Other current assets” 154 154 167 160 Restricted cash included in “Deferred charges and other assets” 925 917 793 759 $ 173,669 $ 344,805 $ 287,790 $ 267,594 |
Accounting Standards Update 2014-09 [Member] | |
Summary of Impact of Adoption of Accounting Standards | The cumulative effect of the adjustments made to the Company’s Condensed Consolidated Balance Sheet as of December 31, 2017 for the line items impacted by the adoption of ASC 606 was as follows (in thousands): December 31, Adjustments Due to the Adoption of ASC 606 January 1, Receivables, net $ 341,958 $ 825 $ 342,783 Deferred charges and other assets 29,193 2,045 31,238 Income taxes payable 2,606 697 3,303 Deferred revenue 34,717 (1,048 ) 33,669 Other long-term liabilities 22,039 202 22,241 Retained earnings 546,843 3,019 549,862 |
Accounting Standards Update 2017-07 [Member] | |
Summary of Impact of Adoption of Accounting Standards | The following is a reconciliation of the effect of the reclassification of the interest cost and amortization of actuarial gain (loss) from operating expenses to other income (expense) in the Company’s Condensed Consolidated Statement of Operations for the three months ended March 31, 2017 (in thousands): As Previously Reported Adjustments Due to the Adoption of ASU 2017-07 As Revised Three Months Ended March 31, 2017: Direct salaries and related costs $ 247,165 $ (29 ) $ 247,136 General and administrative 92,054 (10 ) 92,044 Income from operations 26,014 39 26,053 Other income (expense), net 852 (39 ) 813 |
Revenues (Tables)
Revenues (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Revenues from Contracts with Customers Disaggregated by Service Type | The following table represents revenues from contracts with customers disaggregated by service type for the three months ended March 31, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended March 31, 2018 2017 Americas: Customer engagement solutions and services $ 340,422 $ 320,663 Other revenues 299 268 Total Americas 340,721 320,931 EMEA: Customer engagement solutions and services 71,671 61,068 Other revenues 1,956 1,999 Total EMEA 73,627 63,067 Other: Other revenues 23 16 Total Other 23 16 $ 414,371 $ 384,014 |
Summary of Trade Accounts Receivable, Net | The Company’s trade accounts receivable, net, consists of the following (in thousands): March 31, January 1, (3) Trade accounts receivable, net, current (1) $ 335,255 $ 332,014 Trade accounts receivable, net, noncurrent (2) 3,353 2,078 $ 338,608 $ 334,092 (1) (2) (3) |
Components of Deferred Revenue | Deferred revenue consists of the following (in thousands): March 31, January 1, (1) Future services $ 22,353 $ 26,353 Estimated potential penalties and holdbacks 3,462 3,291 Estimated chargebacks 4,402 4,025 $ 30,217 $ 33,669 (1) The following table reflects the revenue recognized during the three months ended March 31, 2018 that was included in “Deferred revenue” as of January 1, 2018 (in thousands): Future Service Estimated Potential Penalties and Holdbacks Estimated Chargebacks Total Revenue recognized in the period $ 6,840 $ 305 $ 119 $ 7,264 |
Summary of Company's Expects to Recognize Revenue | Of the consolidated deferred future services balance as of March 31, 2018, the Company expects to recognize revenue as outlined below (in thousands): Future Within 1 year $ 17,138 1 - 2 years 2,451 2 - 3 years 1,184 3 - 4 years 790 Thereafter 790 $ 22,353 |
Accounting Standards Update 2014-09 [Member] | |
Summary of Impact of Adoption of Accounting Standards | The financial statement line items impacted by the adoption of ASC 606 in the Company’s Condensed Consolidated Balance Sheet as of March 31, 2018 were as follows (in thousands): As Reported Balances Without the Impact of the Adoption Effect of Adoption Increase (Decrease) March 31, 2018: Receivables, net $ 346,920 $ 343,750 $ 3,170 Deferred charges and other assets 32,618 29,365 3,253 Income taxes payable 2,698 1,133 1,565 Deferred revenue 30,217 32,697 (2,480 ) Other long-term liabilities 24,670 24,242 428 Retained earnings 560,810 553,900 6,910 The financial statement line items impacted by the adoption of ASC 606 in the Company’s Condensed Consolidated Statement of Operations for the three months ended March 31, 2018 were as follows, along with the impact per share (in thousands, except per share data): As Reported Balances Without the Impact of the ASC 606 Adoption Effect of Adoption Increase (Decrease) Three Months Ended March 31, 2018: Revenues $ 414,371 $ 409,320 $ 5,051 Income from operations 14,284 9,233 5,051 Income before income taxes 13,404 8,353 5,051 Income taxes 2,456 1,296 1,160 Net income 10,948 7,057 3,891 Net income per common share: Basic $ 0.26 $ 0.17 $ 0.09 Diluted $ 0.26 $ 0.17 $ 0.09 |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 (in thousands): Fair Value Measurements Using: Balance at Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs March 31, Level 1 Level 2 Level 3 Assets: Foreign currency forward and option contracts (1) $ 1,239 $ - $ 1,239 $ - Embedded derivatives (1) 43 - - 43 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,266 8,266 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 3,407 3,407 - - $ 12,955 $ 11,673 $ 1,239 $ 43 Liabilities: Foreign currency forward and option contracts (1) $ 1,005 $ - $ 1,005 $ - Embedded derivatives (1) 452 - - 452 $ 1,457 $ - $ 1,005 $ 452 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, 2017 (in thousands): Fair Value Measurements Using: Balance at Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs December 31, Level 1 Level 2 Level 3 Assets: Foreign currency forward and option contracts (1) $ 3,848 $ - $ 3,848 $ - Embedded derivatives (1) 52 - - 52 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,094 8,094 - - Debt investments held in rabbi trust for the Deferred Compensation (2) 3,533 3,533 - - $ 15,527 $ 11,627 $ 3,848 $ 52 Liabilities: Foreign currency forward and option contracts (1) $ 256 $ - $ 256 $ - Embedded derivatives (1) 579 - - 579 $ 835 $ - $ 256 $ 579 (1) (2) |
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 March 31, 2018 2017 Balance at the beginning of the period $ (527 ) $ (555 ) Gains (losses) recognized in “Other income (expense), net” 87 139 Settlements 42 45 Effect of foreign currency (11 ) (4 ) Balance at the end of the period $ (409 ) $ (375 ) Change in unrealized gains (losses) included in “Other income (expense), net” related to embedded derivatives held at the end of the period $ 87 $ 141 |
Rollforward of Fair Value of Contingent Consideration (Liability) | Contingent Consideration A rollforward of the activity in the Company’s fair value of the contingent consideration (liability) is as follows (none in 2018) (in thousands): Three Months Ended March 31, 2017 Balance at the beginning of the period $ (6,100 ) Imputed interest (34 ) Fair value gain (loss) adjustments (1) 433 Settlements 126 Effect of foreign currency (58 ) Balance at the end of the period $ (5,633 ) Change in unrealized gains (losses) included in “General and administrative” related to contingent consideration outstanding at the end of the period $ - (1) |
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): Total Impairment (Loss) Three Months Ended March 31, 2018 2017 Americas: Property and equipment, net $ (3,526 ) $ (202 ) |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Company's Purchased Intangible Assets | The following table presents the Company’s purchased intangible assets as of March 31, 2018 (in thousands): Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 170,550 $ (98,417 ) $ 72,133 10 Trade names and trademarks 14,141 (9,228 ) 4,913 7 Non-compete 1,820 (1,204 ) 616 3 Content library 556 (556 ) - 2 Proprietary software 1,040 (620 ) 420 4 Intangible assets not subject to amortization: Domain names 65,541 - 65,541 N/A $ 253,648 $ (110,025 ) $ 143,623 5 The following table presents the Company’s purchased intangible assets as of December 31, 2017 (in thousands): Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 170,853 $ (95,175 ) $ 75,678 10 Trade names and trademarks 14,138 (8,797 ) 5,341 7 Non-compete 1,820 (1,052 ) 768 3 Content library 542 (542 ) - 2 Proprietary software 1,040 (585 ) 455 4 Intangible assets not subject to amortization: Domain names 58,035 - 58,035 N/A $ 246,428 $ (106,151 ) $ 140,277 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 March 31, 2018 is as follows (in thousands): Years Ending December 31, Amount 2018 (remaining nine months) $ 10,925 2019 14,083 2020 11,405 2021 6,849 2022 5,739 2023 4,882 2024 and thereafter 24,199 |
Changes in Goodwill | Changes in goodwill for the three months ended March 31, 2018 consist of the following (in thousands): January 1, Acquisition Effect of Foreign Currency March 31, Americas $ 258,496 $ - $ (1,589 ) $ 256,907 EMEA 10,769 - 260 11,029 $ 269,265 $ - $ (1,329 ) $ 267,936 Changes in goodwill for the year ended December 31, 2017 consist of the following (in thousands): January 1, Acquisition Effect of Foreign Currency December 31, Americas $ 255,842 $ 390 $ 2,264 $ 258,496 EMEA 9,562 - 1,207 10,769 $ 265,404 $ 390 $ 3,471 $ 269,265 |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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): March 31, December 31, Deferred gains (losses) in AOCI $ (466 ) $ 2,550 Tax on deferred gains (losses) in AOCI 44 (79 ) Deferred gains (losses) in AOCI, net of taxes $ (422 ) $ 2,471 Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (371 ) |
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): March 31, 2018 December 31, 2017 Contract Type Notional Amount in Settle Through Date Notional Amount in USD Settle Through Date Cash flow hedges: Options: US Dollars/Philippine Pesos $ 92,500 March 2019 $ 78,000 December 2018 Forwards: US Dollars/Philippine Pesos 34,000 June 2019 3,000 June 2018 US Dollars/Costa Rican Colones 83,000 June 2019 70,000 March 2019 Euros/Hungarian Forints 2,747 December 2018 3,554 December 2018 Euros/Romanian Leis 10,792 December 2018 13,977 December 2018 Non-designated Forwards 9,100 June 2018 9,253 March 2018 Embedded derivatives 13,960 April 2030 13,519 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 March 31, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 1,239 $ 3,604 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) - 244 Embedded derivatives (1) 8 9 Embedded derivatives (2) 35 43 Total derivative assets $ 1,282 $ 3,900 Derivative Liabilities March 31, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 701 $ 175 Foreign currency forward and option contracts (4) 95 81 796 256 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) 209 - Embedded derivatives (3) 133 189 Embedded derivatives (4) 319 390 Total derivative liabilities $ 1,457 $ 835 (1) (2) (3) (4) |
Effect of the Company's Derivative Instruments | The following table presents the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended March 31, 2018 and 2017 (in thousands): Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) Gain (Loss) Reclassified From AOCI Into “Revenues” (Effective Portion) Gain (Loss) Recognized in “Revenues” on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) March 31, March 31, March 31, 2018 2017 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (2,696 ) $ (234 ) $ 237 $ (760 ) $ 6 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts - (599 ) - - - - $ (2,696 ) $ (833 ) $ 237 $ (760 ) $ 6 $ - The following table presents the gains (losses) recognized in “Other income (expense), net” of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended March 31, 2018 and 2017 (in thousands): Three Months Ended March 31, 2018 2017 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (1,169 ) $ (839 ) Embedded derivatives 87 139 $ (1,082 ) $ (700 ) |
Investments Held in Rabbi Tru31
Investments Held in Rabbi Trust (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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): March 31, 2018 December 31, 2017 Cost Fair Value Cost Fair Value Mutual funds $ 8,221 $ 11,673 $ 8,096 $ 11,627 |
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 71% equity-based and 29% debt-based as of March 31, 2018. 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 March 31, 2018 2017 Net realized gains (losses) from sale of trading securities $ 5 $ - Dividend and interest income 25 14 Net unrealized holding gains (losses) (55 ) 393 Net investment income (losses) $ (25 ) $ 407 |
Deferred Grants (Tables)
Deferred Grants (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Text Block [Abstract] | |
Schedule of Deferred Grants, Net of Accumulated Amortization | Deferred grants, net of accumulated amortization, consist of the following (in thousands): March 31, 2018 December 31, 2017 Property grants $ 2,714 $ 2,843 Lease grants 496 507 Employment grants 59 61 Total deferred grants 3,269 3,411 Less: Lease grants - short-term (1) (121 ) (117 ) Less: Employment grants - short-term (1) (59 ) (61 ) Total long-term deferred grants $ 3,089 $ 3,233 (1) |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Debt Disclosure [Abstract] | |
Information Related to Credit Agreements | The following table presents information related to our credit agreements (dollars in thousands): Three Months Ended March 31, 2018 2017 Average daily utilization $ 121,389 $ 267,000 Interest expense (1), (2) $ 1,001 $ 1,443 Weighted average interest rate (2) 3.4 % 2.2 % (1) (2) |
Accumulated Other Comprehensi34
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 Currency Translation Gain (Loss) Unrealized Gain (Loss) on Net Investment Hedge Unrealized Gain (Loss) on Cash Flow Hedging Instruments Unrealized Actuarial Gain (Loss) Related to Pension Liability Unrealized Gain (Loss) on Post Retirement Obligation Total Balance at January 1, 2017 $ (72,393 ) $ 6,266 $ (2,225 ) $ 1,125 $ 200 $ (67,027 ) Pre-tax 36,101 (8,352 ) 2,276 527 (30 ) 30,522 Tax (provision) benefit - 3,132 (54 ) (18 ) - 3,060 Reclassification of (gain) loss to net income - - 2,444 (53 ) (50 ) 2,341 Foreign currency translation (23 ) - 30 (7 ) - - Balance at December 31, 2017 (36,315 ) 1,046 2,471 1,574 120 (31,104 ) Pre-tax 144 - (2,690 ) - - (2,546 ) Tax (provision) benefit - - 126 3 - 129 Reclassification of (gain) loss to net income - - (250 ) (18 ) (10 ) (278 ) Foreign currency translation 147 - (79 ) (68 ) - - Balance at March 31, 2018 $ (36,024 ) $ 1,046 $ (422 ) $ 1,491 $ 110 $ (33,799 ) The following table summarizes the amounts reclassified to net income from |
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 March 31, Statements of Operations 2018 2017 Location Gain (Loss) on Cash Flow Hedging Instruments: (1) Pre-tax 243 (760 ) Revenues Tax (provision) benefit 7 41 Income taxes Reclassification to net income 250 (719 ) Actuarial Gain (Loss) Related to Pension Liability: (2) Pre-tax $ 15 $ 10 Other income Tax (provision) benefit 3 - Income taxes Reclassification to net income 18 10 Gain (Loss) on Post Retirement Obligation: (2),(3) Reclassification to net income 10 12 Other income Total reclassification of gain (loss) to net income $ 278 $ (697 ) (1) (2) (3) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 2017 Basic: Weighted average common shares outstanding 41,939 41,654 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 293 251 Total weighted average diluted shares outstanding 42,232 41,905 Anti-dilutive shares excluded from the diluted earnings per share calculation 9 9 |
Commitments and Loss Continge36
Commitments and Loss Contingency (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 (in thousands): Amount 2018 (remaining nine months) $ 336 2019 2,779 2020 2,887 2021 2,949 2022 2,976 2023 2,524 2024 and thereafter 6,778 Total minimum payments required $ 21,229 |
Schedule of Future Minimum Purchases Remaining under Agreements | The following is a schedule of the future minimum purchases remaining under the agreements as of March 31, 2018 (in thousands): Amount 2018 (remaining nine months) $ 6,863 2019 3,270 2020 253 2021 - 2022 - 2023 - 2024 and thereafter - Total minimum payments required $ 10,386 |
Defined Benefit Pension Plan 37
Defined Benefit Pension Plan and Postretirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 2017 Service cost $ 114 $ 125 Interest cost 50 49 Recognized actuarial (gains) (15 ) (10 ) Net periodic benefit cost $ 149 $ 164 |
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 March 31, 2018 2017 401(k) plan contributions $ 459 $ 311 |
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): March 31, December 31, Postretirement benefit obligation $ 14 $ 15 Unrealized gains (losses) in AOCI (1) 110 120 (1) |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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) and income tax benefits related to the stock-based compensation (in thousands): Three Months Ended March 31, 2018 2017 Stock-based compensation (expense) (1) $ (2,077 ) $ (2,471 ) Income tax benefit (2) 498 951 (1) (2) |
Summary of Stock Appreciation Rights Activity | The following table summarizes SARs activity as of March 31, 2018 and for the three months then ended: Stock Appreciation Rights Shares (000s) Weighted Average Exercise Price Weighted Average Remaining Term (in years) Aggregate Intrinsic Value (000s) Outstanding at January 1, 2018 734 $ - Granted - $ - Exercised (43 ) $ - Forfeited or expired - $ - Outstanding at March 31, 2018 691 $ - 8.3 $ 597 Vested or expected to vest at March 31, 2018 691 $ - 8.3 $ 597 Exercisable at March 31, 2018 363 $ - 7.8 $ 597 |
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): Three Months Ended March 31, 2018 2017 Number of SARs granted - - Weighted average grant-date fair value per SAR $ - $ - Intrinsic value of SARs exercised $ 305 $ 306 Fair value of SARs vested $ 1,950 $ 1,846 |
Summary of Nonvested Stock Appreciation Rights | The following table summarizes nonvested SARs activity as of March 31, 2018 and for the three months then ended: Nonvested Stock Appreciation Rights Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 600 $ 6.88 Granted - $ - Vested (272 ) $ 7.16 Forfeited or expired - $ - Nonvested at March 31, 2018 328 $ 6.64 |
Summary of Nonvested Restricted Shares and Restricted Stock Units | The following table summarizes nonvested restricted shares/RSUs activity as of March 31, 2018 and for the three months then ended: Nonvested Restricted Shares and RSUs Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 1,109 $ 28.50 Granted - $ - Vested (323 ) $ 25.78 Forfeited or expired (41 ) $ 25.78 Nonvested at March 31, 2018 745 $ 29.83 |
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): Three Months Ended March 31, 2018 2017 Number of restricted shares/RSUs granted - - Weighted average grant-date fair value per restricted share/RSU $ - $ - Fair value of restricted shares/RSUs vested $ 8,342 $ 6,868 |
Summary of Nonvested Common Stock Units and Share Awards | The following table summarizes nonvested common stock share award activity as of March 31, 2018 and for the three months then ended: Nonvested Common Stock Share Awards Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 8 $ 32.21 Granted - $ - Vested (7 ) $ 32.74 Forfeited or expired - $ - Nonvested at March 31, 2018 1 $ 29.36 |
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): Three Months Ended March 31, 2018 2017 Number of share awards granted - - Weighted average grant-date fair value per share award $ - $ - Fair value of share awards vested $ 210 $ 220 |
Summary of Nonvested Common Stock | The following table summarizes nonvested common stock activity as of March 31, 2018 and for the three months then ended: Nonvested Common Stock Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 3 $ 29.56 Granted 5 $ 28.94 Vested (4 ) $ 28.99 Forfeited or expired - $ - Nonvested at March 31, 2018 4 $ 29.34 |
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): Three Months Ended March 31, 2018 2017 Number of shares of common stock granted 5 7 Weighted average grant-date fair value per common stock $ 28.94 $ 29.40 Fair value of common stock vested $ 117 $ 162 Cash used to settle the obligation $ 249 $ 9 |
Segments and Geographic Infor39
Segments and Geographic Information (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018: Revenues $ 340,721 $ 73,627 $ 23 $ 414,371 Percentage of revenues 82.2 % 17.8 % 0.0 % 100.0 % Depreciation, net $ 12,683 $ 1,411 $ 742 $ 14,836 Amortization of intangibles $ 3,992 $ 221 $ - $ 4,213 Income (loss) from operations $ 25,864 $ 4,639 $ (16,219 ) $ 14,284 Total other income (expense), net (880 ) (880 ) Income taxes (2,456 ) (2,456 ) Net income $ 10,948 Three Months Ended March 31, 2017: Revenues $ 320,931 $ 63,067 $ 16 $ 384,014 Percentage of revenues 83.6 % 16.4 % 0.0 % 100.0 % Depreciation, net $ 11,468 $ 1,186 $ 694 $ 13,348 Amortization of intangibles $ 4,978 $ 253 $ - $ 5,231 Income (loss) from operations $ 37,972 $ 5,580 $ (17,499) $ 26,053 Total other income (expense), net (731 ) (731 ) Income taxes (6,610 ) (6,610 ) Net income $ 18,712 (1) |
Operations by Geographic Location | The following table represents a disaggregation of revenue from contracts with customers by geographic location for the three months ended March 31, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended March 31, 2018 2017 Americas: United States $ 171,446 $ 153,643 The Philippines 60,086 58,540 Costa Rica 32,075 33,325 Canada 27,189 29,722 El Salvador 20,011 18,345 People’s Republic of China 9,348 9,260 Australia 7,702 6,649 Mexico 6,318 5,609 Other 6,546 5,838 Total Americas 340,721 320,931 EMEA: Germany 24,175 20,438 Sweden 14,130 14,301 United Kingdom 13,347 9,735 Romania 8,136 6,393 Other 13,839 12,200 Total EMEA 73,627 63,067 Total Other 23 16 $ 414,371 $ 384,014 |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense), Net | Other income (expense), net consists of the following (in thousands): Three Months Ended March 31, 2018 2017 Foreign currency transaction gains (losses) $ 1,448 $ 1,179 Gains (losses) on derivative instruments not designated as hedges (1,082 ) (700 ) Other miscellaneous income (expense) (211 ) 334 $ 155 $ 813 |
Overview and Basis of Present41
Overview and Basis of Presentation - Additional Information (Detail) | Dec. 20, 2017 | May 31, 2017USD ($) | Apr. 24, 2017 | Jul. 31, 2017USD ($) | Mar. 31, 2018USD ($)Segment | Mar. 31, 2017USD ($) | Dec. 31, 2017USD ($) | Jan. 01, 2018USD ($) | Jan. 01, 2017USD ($) | Dec. 31, 2016USD ($) |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Number of reportable segments | Segment | 2 | |||||||||
Statutory federal income tax rate | 21.00% | |||||||||
Increase in cash, cash equivalents and restricted cash | $ 173,669,000 | $ 287,790,000 | $ 344,805,000 | $ 267,594,000 | ||||||
Current US Federal Rate [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Statutory federal income tax rate | 35.00% | 21.00% | 35.00% | |||||||
US 2017 Tax Reform Act [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Statutory federal income tax rate | 21.00% | 35.00% | 21.00% | |||||||
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 | |||||||||
Income (loss) from equity method investments | $ 0 | |||||||||
Prepaid Expenses And Other Current Assets [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Capitalized direct response advertising costs | $ 300,000 | |||||||||
Other Accrued Expenses and Current Liabilities [Member] | XSell Technologies Inc [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Remaining payment on 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 | 9,700,000 | 9,800,000 | |||||||
Direct Salaries and Related Costs [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Total advertising costs | 10,000,000 | 9,800,000 | ||||||||
Other Income (Expense), Net [Member] | XSell Technologies Inc [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Income (loss) from equity method investments | (100,000) | |||||||||
Accounting Standards Update 2016-18 [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Increase in cash, cash equivalents and restricted cash | 1,000,000 | $ 1,100,000 | $ 900,000 | |||||||
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 | $ 0 | ||||||||
Global 2000 Telecommunications Services Provider [Member] | Americas [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Effective date of acquisition | May 31, 2017 | |||||||||
Aggregate purchase price | $ 7,500,000 | |||||||||
Property and equipment acquired | 6,000,000 | |||||||||
Date of Acquisition agreement | Apr. 24, 2017 | |||||||||
Global 2000 Telecommunications Services Provider [Member] | Americas [Member] | Customer Relationships [Member] | ||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||
Intangibles acquired | $ 1,500,000 |
Overview and Basis of Present42
Overview and Basis of Presentation - Summary of Cash and Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Cash and cash equivalents | $ 172,590 | $ 343,734 | $ 286,830 | $ 266,675 |
Cash and Cash Equivalents and Restricted Cash | 173,669 | 344,805 | 287,790 | 267,594 |
Other Current Assets [Member] | ||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Restricted cash included in "Other current assets" | 154 | 154 | 167 | 160 |
Deferred Charges and Other Assets [Member] | ||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Restricted cash included in "Deferred charges and other assets" | $ 925 | $ 917 | $ 793 | $ 759 |
Overview and Basis of Present43
Overview and Basis of Presentation - Schedule of Impact of Adopting ASU 2017-07 on Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Direct salaries and related costs | $ 275,072 | $ 247,136 |
General and administrative | 102,440 | 92,044 |
Income from operations | 14,284 | 26,053 |
Other income (expense), net | $ 155 | 813 |
As Previously Reported [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Direct salaries and related costs | 247,165 | |
General and administrative | 92,054 | |
Income from operations | 26,014 | |
Other income (expense), net | 852 | |
Accounting Standards Update 2017-07 [Member] | Adjustments Due to the Adoption of ASU 2017-07 [Member] | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Direct salaries and related costs | (29) | |
General and administrative | (10) | |
Income from operations | 39 | |
Other income (expense), net | $ (39) |
Revenues - Additional Informati
Revenues - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Jan. 01, 2018 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Revenue, performance obligation satisfied over time, method used, description | The Company recognizes revenue over time using output methods such as a per minute, per hour, per call, per transaction or per time and materials basis. | ||
Contract termination notice period | 90 days | ||
Description of payment terms | The Company’s primary billing terms are that payment is due upon receipt of the invoice, payable usually within 30 or 60 days. | ||
Percentage of revenue | 100.00% | 100.00% | |
Minimum [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Contract term | 30 days | ||
Maximum [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Contract term | 6 years | ||
Estimated Potential Penalties Holdbacks and Chargebacks [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Estimated potential penalties, holdbacks and chargebacks expected timing of satisfaction of remaining performance obligations | The Company expects to recognize the entire balance as revenue within 30 to 120 days if the requisite service levels and client requiremetns are met in order to settle the contingency. | ||
Other Revenues [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Percentage of revenue | 0.50% | 0.60% | |
Accounting Standards Update 2014-09 [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Retained earnings | $ 3,019 | ||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | |||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||
Retained earnings | $ 3,019 | $ 3,000 |
Revenues - Summary of Impact of
Revenues - Summary of Impact of Adoption of Accounting Standards (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Receivables, net | $ 346,920 | $ 342,783 | $ 341,958 | |
Deferred charges and other assets | 32,618 | 31,238 | 29,193 | |
Income taxes payable | 2,698 | 3,303 | 2,606 | |
Deferred revenue | 30,217 | 33,669 | 34,717 | |
Other long-term liabilities | 24,670 | 22,241 | 22,039 | |
Retained earnings | 560,810 | 549,862 | $ 546,843 | |
Revenues | 414,371 | $ 384,014 | ||
Income from operations | 14,284 | 26,053 | ||
Income before income taxes | 13,404 | 25,322 | ||
Income taxes | 2,456 | 6,610 | ||
Net income | $ 10,948 | $ 18,712 | ||
Net income per common share: | ||||
Basic | $ 0.26 | $ 0.45 | ||
Diluted | $ 0.26 | $ 0.45 | ||
Balances Without the Impact of the ASC 606 Adoption [Member] | Accounting Standards Update 2014-09 [Member] | ||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Receivables, net | $ 343,750 | |||
Deferred charges and other assets | 29,365 | |||
Income taxes payable | 1,133 | |||
Deferred revenue | 32,697 | |||
Other long-term liabilities | 24,242 | |||
Retained earnings | 553,900 | |||
Revenues | 409,320 | |||
Income from operations | 9,233 | |||
Income before income taxes | 8,353 | |||
Income taxes | 1,296 | |||
Net income | $ 7,057 | |||
Net income per common share: | ||||
Basic | $ 0.17 | |||
Diluted | $ 0.17 | |||
Effect of Adoption Increase (Decrease) [Member] | Accounting Standards Update 2014-09 [Member] | ||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||
Receivables, net | $ 3,170 | 825 | ||
Deferred charges and other assets | 3,253 | 2,045 | ||
Income taxes payable | 1,565 | 697 | ||
Deferred revenue | (2,480) | (1,048) | ||
Other long-term liabilities | 428 | 202 | ||
Retained earnings | 6,910 | $ 3,019 | ||
Revenues | 5,051 | |||
Income from operations | 5,051 | |||
Income before income taxes | 5,051 | |||
Income taxes | 1,160 | |||
Net income | $ 3,891 | |||
Net income per common share: | ||||
Basic | $ 0.09 | |||
Diluted | $ 0.09 |
Revenues - Revenues from Contra
Revenues - Revenues from Contracts with Customers Disaggregated by Service Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 414,371 | $ 384,014 |
Americas [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 340,721 | 320,931 |
Americas [Member] | Customer Engagement Services [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 340,422 | 320,663 |
Americas [Member] | Other Revenues [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 299 | 268 |
EMEA [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 73,627 | 63,067 |
EMEA [Member] | Customer Engagement Services [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 71,671 | 61,068 |
EMEA [Member] | Other Revenues [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 1,956 | 1,999 |
Other Segment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 23 | 16 |
Other Segment [Member] | Other Revenues [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 23 | $ 16 |
Revenues - Summary of Trade Acc
Revenues - Summary of Trade Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jan. 01, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade accounts receivable, net | $ 338,608 | $ 334,092 |
Receivables Net, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade accounts receivable, net, current | 335,255 | 332,014 |
Deferred Charges and Other Assets [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade accounts receivable, net, noncurrent | $ 3,353 | $ 2,078 |
Revenues - Summary of Trade A48
Revenues - Summary of Trade Accounts Receivable, Net (Parenthetical) (Detail) - Accounting Standards Update 2014-09 [Member] - Effect of Adoption Increase (Decrease) [Member] $ in Millions | Jan. 01, 2018USD ($) |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Trade accounts receivable, net, current | $ 0.8 |
Trade accounts receivable, net, noncurrent | $ 2.1 |
Revenue - Components of Deferre
Revenue - Components of Deferred Revenue (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Contract with Customer, Liability [Abstract] | |||
Deferred revenue | $ 30,217 | $ 33,669 | $ 34,717 |
Future Services [Member] | |||
Contract with Customer, Liability [Abstract] | |||
Deferred revenue | 22,353 | 26,353 | |
Estimated Potential Penalties and Holdbacks [Member] | |||
Contract with Customer, Liability [Abstract] | |||
Deferred revenue | 3,462 | 3,291 | |
Estimated Chargebacks [Member] | |||
Contract with Customer, Liability [Abstract] | |||
Deferred revenue | $ 4,402 | $ 4,025 |
Revenue - Components of Defer50
Revenue - Components of Deferred Revenue (Parenthetical) (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Contract with Customer, Liability [Abstract] | |||
Deferred revenue | $ 30,217 | $ 33,669 | $ 34,717 |
Accounting Standards Update 2014-09 [Member] | Effect of Adoption Increase (Decrease) [Member] | |||
Contract with Customer, Liability [Abstract] | |||
Deferred revenue | $ (2,480) | $ (1,048) |
Revenues - Summary of Revenue R
Revenues - Summary of Revenue Recognized (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Deferred Revenue Arrangement [Line Items] | |
Revenue recognized in the period | $ 7,264 |
Future Services [Member] | |
Deferred Revenue Arrangement [Line Items] | |
Revenue recognized in the period | 6,840 |
Estimated Potential Penalties and Holdbacks [Member] | |
Deferred Revenue Arrangement [Line Items] | |
Revenue recognized in the period | 305 |
Estimated Chargebacks [Member] | |
Deferred Revenue Arrangement [Line Items] | |
Revenue recognized in the period | $ 119 |
Revenues - Summary of Company's
Revenues - Summary of Company's Expects to Recognize Revenue (Detail) - Future Services [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2018USD ($) | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 22,353 |
Within 1 Year [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation | $ 17,138 |
1 - 2 years [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation | $ 2,451 |
2 - 3 years [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation | $ 1,184 |
3 - 4 years [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue remaining performance obligation, expected timing of satisfaction, period | 1 year |
Revenue, remaining performance obligation | $ 790 |
Thereafter [Member] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |
Revenue, remaining performance obligation | $ 790 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | |
May 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Payments of contingent consideration related to acquisitions | $ 126 | ||
Impairment charge | $ 3,526 | 202 | |
Land [Member] | Property and Equipment [Member] | Americas [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment charge | 200 | ||
Costumer Contact Management Center [Member] | Leasehold Improvements Equipment Furniture and Fixtures [Member] | Property and Equipment [Member] | U.S. and Canada [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impairment charge | $ 3,500 | ||
Qelp [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value discount rate | 14.00% | ||
Payments of contingent consideration related to acquisitions | $ 4,400 | ||
Clearlink [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair value discount rate | 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 | $ 433 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Assets: | ||
Derivative Assets | $ 1,282 | $ 3,900 |
Total assets | 12,955 | 15,527 |
Liabilities: | ||
Derivative Liabilities | 1,457 | 835 |
Total liabilities | 1,457 | 835 |
Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||
Liabilities: | ||
Derivative Liabilities | 1,005 | 256 |
Foreign Currency Forward and Option Contracts [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||
Assets: | ||
Derivative Assets | 1,239 | 3,848 |
Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||
Assets: | ||
Derivative Assets | 43 | 52 |
Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||
Liabilities: | ||
Derivative Liabilities | 452 | 579 |
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 | 8,266 | 8,094 |
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 | 3,407 | 3,533 |
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | ||
Assets: | ||
Total assets | 11,673 | 11,627 |
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 | 8,266 | 8,094 |
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 | 3,407 | 3,533 |
Significant Other Observable Inputs Level 2 [Member] | ||
Assets: | ||
Total assets | 1,239 | 3,848 |
Liabilities: | ||
Total liabilities | 1,005 | 256 |
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 | 1,005 | 256 |
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 | 1,239 | 3,848 |
Significant Unobservable Inputs Level 3 [Member] | ||
Assets: | ||
Total assets | 43 | 52 |
Liabilities: | ||
Total liabilities | 452 | 579 |
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||
Assets: | ||
Derivative Assets | 43 | 52 |
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||
Liabilities: | ||
Derivative Liabilities | $ 452 | $ 579 |
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Balance at the beginning of the period | $ (527) | $ (555) |
Settlements | 42 | 45 |
Effect of foreign currency | (11) | (4) |
Balance at the end of the period | (409) | (375) |
Other Income (Expense), Net [Member] | ||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||
Gains (losses) recognized in "Other income (expense), net" | 87 | 139 |
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 | $ 87 | $ 141 |
Fair Value - Rollforward of Fai
Fair Value - Rollforward of Fair Value of Contingent Consideration (Liability) (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2017USD ($) | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Contingent consideration (liability), Beginning Balance | $ (6,100) |
Imputed interest | (34) |
Settlements | 126 |
Effect of foreign currency | (58) |
Contingent Consideration (liability), Ending Balance | (5,633) |
General and Administrative [Member] | |
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 | 0 |
Clearlink [Member] | General and Administrative [Member] | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | |
Fair value gain (loss) adjustments | $ 433 |
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||
Impairment of long-lived assets | $ (3,526) | $ (202) |
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 | $ (3,526) | $ (202) |
Goodwill and Intangible Asset58
Goodwill and Intangible Assets - Company's Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 253,648 | $ 246,428 |
Accumulated Amortization | (110,025) | (106,151) |
Net Intangibles | $ 143,623 | $ 140,277 |
Weighted Average Amortization Period (years) | 5 years | 6 years |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 170,550 | $ 170,853 |
Accumulated Amortization | (98,417) | (95,175) |
Net Intangibles | $ 72,133 | $ 75,678 |
Weighted Average Amortization Period (years) | 10 years | 10 years |
Trade Name and Trademarks [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 14,141 | $ 14,138 |
Accumulated Amortization | (9,228) | (8,797) |
Net Intangibles | $ 4,913 | $ 5,341 |
Weighted Average Amortization Period (years) | 7 years | 7 years |
Non-Compete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 1,820 | $ 1,820 |
Accumulated Amortization | (1,204) | (1,052) |
Net Intangibles | $ 616 | $ 768 |
Weighted Average Amortization Period (years) | 3 years | 3 years |
Content Library [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 556 | $ 542 |
Accumulated Amortization | $ (556) | $ (542) |
Weighted Average Amortization Period (years) | 2 years | 2 years |
Proprietary Software [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 1,040 | $ 1,040 |
Accumulated Amortization | (620) | (585) |
Net Intangibles | $ 420 | $ 455 |
Weighted Average Amortization Period (years) | 4 years | 4 years |
Domain Names Not Subject To Amortization [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 65,541 | $ 58,035 |
Net Intangibles | $ 65,541 | $ 58,035 |
Goodwill and Intangible Asset59
Goodwill and Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2018 (remaining nine months) | $ 10,925 |
2,019 | 14,083 |
2,020 | 11,405 |
2,021 | 6,849 |
2,022 | 5,739 |
2,023 | 4,882 |
2024 and thereafter | $ 24,199 |
Goodwill and Intangible Asset60
Goodwill and Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | $ 269,265 | $ 265,404 |
Acquisition | 390 | |
Effect of Foreign Currency | (1,329) | 3,471 |
Ending Balance, Goodwill Net | 267,936 | 269,265 |
Americas [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 258,496 | 255,842 |
Acquisition | 390 | |
Effect of Foreign Currency | (1,589) | 2,264 |
Ending Balance, Goodwill Net | 256,907 | 258,496 |
EMEA [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 10,769 | 9,562 |
Effect of Foreign Currency | 260 | 1,207 |
Ending Balance, Goodwill Net | $ 11,029 | $ 10,769 |
Goodwill and Intangible Asset61
Goodwill and Intangible Assets - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018USD ($) | Dec. 31, 2017USD ($)Reporting_Unit | Dec. 31, 2016USD ($) | |
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 | $ 267,936,000 | $ 269,265,000 | $ 265,404,000 |
Qelp [Member] | |||
Goodwill [Line Items] | |||
Goodwill Impairment Loss | 0 | ||
Goodwill | 11,000,000 | ||
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 | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Deferred gains (losses) in AOCI | $ (466) | $ 2,550 |
Tax on deferred gains (losses) in AOCI | 44 | (79) |
Deferred gains (losses) in AOCI, net of taxes | (422) | $ 2,471 |
Deferred gains (losses) expected to be reclassified to "Revenues" from AOCI during the next twelve months | $ (371) |
Financial Derivatives - Additio
Financial Derivatives - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Maximum period of foreign currency hedge contracts | 180 days | |
Maximum amount of loss due to credit risk | $ 1,200,000 | $ 3,800,000 |
Total net settlement amount asset positions | 600,000 | 3,600,000 |
Total net settlement amount liability positions | $ 400,000 | $ 0 |
Financial Derivatives - Outstan
Financial Derivatives - Outstanding Foreign Currency Forward Contracts, Options and Embedded Derivatives (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
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 | $ 92,500 | $ 78,000 |
Settle Through Date | Mar. 31, 2019 | Dec. 31, 2018 |
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 | $ 34,000 | $ 3,000 |
Settle Through Date | Jun. 30, 2019 | 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 | $ 83,000 | $ 70,000 |
Settle Through Date | Jun. 30, 2019 | Mar. 31, 2019 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Euros/Hungarian Forints [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 2,747 | $ 3,554 |
Settle Through Date | Dec. 31, 2018 | Dec. 31, 2018 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Euros/Romanian Leis [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 10,792 | $ 13,977 |
Settle Through Date | Dec. 31, 2018 | Dec. 31, 2018 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Forwards [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 9,100 | $ 9,253 |
Settle Through Date | Jun. 30, 2018 | Mar. 31, 2018 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 13,960 | $ 13,519 |
Settle Through Date | Apr. 30, 2030 | Apr. 30, 2030 |
Financial Derivatives - Derivat
Financial Derivatives - Derivative Instruments Fair Value (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 1,282 | $ 3,900 |
Derivative Liabilities | 1,457 | 835 |
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 | 244 | |
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 | 209 | |
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 | 9 |
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 | 35 | 43 |
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 | 133 | 189 |
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 | 319 | 390 |
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 Liabilities | 796 | 256 |
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 | 1,239 | 3,604 |
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 | 701 | 175 |
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 | $ 95 | $ 81 |
Financial Derivatives - Effect
Financial Derivatives - Effect of Company's Derivative Instruments (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $ (2,696) | $ (833) |
Gain (Loss) Reclassified From AOCI Into "Revenues" (Effective Portion) | 237 | (760) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 6 | |
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | (1,082) | (700) |
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) | (2,696) | (234) |
Gain (Loss) Reclassified From AOCI Into "Revenues" (Effective Portion) | 237 | (760) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 6 | |
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) | (599) | |
Other Income (Expense), Net [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 | (1,082) | (700) |
Other Income (Expense), Net [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 | (1,169) | (839) |
Other Income (Expense), Net [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 | $ 87 | $ 139 |
Investments Held in Rabbi Tru67
Investments Held in Rabbi Trust - Investments Held in Rabbi Trust, Classified as Trading (Detail) - Mutual Funds [Member] - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Cost | $ 8,221 | $ 8,096 |
Other Current Assets [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Fair Value | $ 11,673 | $ 11,627 |
Investments Held in Rabbi Tru68
Investments Held in Rabbi Trust - Additional Information (Detail) | Mar. 31, 2018 |
Equity-Based Securities [Member] | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |
Mutual funds held in rabbi trust | 71.00% |
Debt-Based Securities [Member] | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |
Mutual funds held in rabbi trust | 29.00% |
Investments Held in Rabbi Tru69
Investments Held in Rabbi Trust - Components of Investment Income (Losses), Included in Other Income (Expense), Net in Accompanying Consolidated Statements of Operations (Detail) - Other Income (Expense), Net [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Net realized gains (losses) from sale of trading securities | $ 5 | |
Dividend and interest income | 25 | $ 14 |
Net unrealized holding gains (losses) | (55) | 393 |
Net investment income (losses) | $ (25) | $ 407 |
Deferred Grants - Schedule of D
Deferred Grants - Schedule of Deferred Grants, Net of Accumulated Amortization (Detail) - USD ($) $ in Thousands | Mar. 31, 2018 | Dec. 31, 2017 |
Deferred Revenue Arrangement [Line Items] | ||
Lease grants | $ 496 | $ 507 |
Employment grants | 59 | 61 |
Total deferred grants | 3,269 | 3,411 |
Total long-term deferred grants | 3,089 | 3,233 |
Other Long-Term Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Property grants | 2,714 | 2,843 |
Total long-term deferred grants | 3,089 | 3,233 |
Other Accrued Expenses and Current Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Less: Lease grants - short-term | (121) | (117) |
Less: Employment grants - short-term | $ (59) | $ (61) |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | Jan. 12, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | May 31, 2015 | May 12, 2015 |
Line of Credit Facility [Line Items] | |||||
Long-term debt remaining outstanding | $ 100,000,000 | $ 275,000,000 | |||
Long-term debt repaid | $ 175,000,000 | ||||
Current Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 440,000,000 | ||||
Line of credit facility, expiration date | May 12, 2020 | ||||
Long-term debt remaining outstanding | $ 100,000,000 | $ 100,000,000 | $ 275,000,000 | ||
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 Credit Agreement | ||||
Underwriting fee for credit agreement | $ 900,000 | ||||
Long-term debt repaid | $ 175,000,000 | ||||
Current 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% | ||||
Current 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% | ||||
Prior Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Underwriting fee for credit agreement | $ 400,000 | ||||
Current Credit Agreement Alternate-Currency Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 200,000,000 | ||||
Current Credit Agreement Swingline Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 10,000,000 | ||||
Current 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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Line of Credit Facility [Abstract] | ||
Average daily utilization of borrowings | $ 121,389 | $ 267,000 |
Interest expense | $ 1,001 | $ 1,443 |
Weighted average interest rate | 3.40% | 2.20% |
Accumulated Other Comprehensi73
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2018 | Dec. 31, 2017 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | $ (31,104) | $ (67,027) |
Pre-tax amount | (2,546) | 30,522 |
Tax (provision) benefit | 129 | 3,060 |
Reclassification of (gain) loss to net income | (278) | 2,341 |
Ending balance, accumulated other comprehensive income (loss) | (33,799) | (31,104) |
Foreign Currency Translation Gain (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | (36,315) | (72,393) |
Pre-tax amount | 144 | 36,101 |
Foreign currency translation | 147 | (23) |
Ending balance, accumulated other comprehensive income (loss) | (36,024) | (36,315) |
Unrealized Gain (Loss) on Net Investment Hedge [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 1,046 | 6,266 |
Pre-tax amount | (8,352) | |
Tax (provision) benefit | 3,132 | |
Ending balance, accumulated other comprehensive income (loss) | 1,046 | 1,046 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 2,471 | (2,225) |
Pre-tax amount | (2,690) | 2,276 |
Tax (provision) benefit | 126 | (54) |
Reclassification of (gain) loss to net income | (250) | 2,444 |
Foreign currency translation | (79) | 30 |
Ending balance, accumulated other comprehensive income (loss) | (422) | 2,471 |
Unrealized Actuarial Gain (Loss) Related to Pension Liability [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 1,574 | 1,125 |
Pre-tax amount | 527 | |
Tax (provision) benefit | 3 | (18) |
Reclassification of (gain) loss to net income | (18) | (53) |
Foreign currency translation | (68) | (7) |
Ending balance, accumulated other comprehensive income (loss) | 1,491 | 1,574 |
Unrealized Gain (Loss) on Post Retirement Obligation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 120 | 200 |
Pre-tax amount | (30) | |
Reclassification of (gain) loss to net income | (10) | (50) |
Ending balance, accumulated other comprehensive income (loss) | $ 110 | $ 120 |
Accumulated Other Comprehensi74
Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Pre-tax amount | $ 13,404 | $ 25,322 |
Tax (provision) benefit | 2,456 | 6,610 |
Reclassification of gain (loss) to net income | 10,948 | 18,712 |
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 | 278 | (697) |
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 | 7 | 41 |
Reclassification of gain (loss) to net income | 250 | (719) |
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] | ||
Tax (provision) benefit | 3 | |
Reclassification of gain (loss) to net income | 18 | 10 |
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 | 243 | (760) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Other Income (Expense), Net [Member] | Actuarial Gain (Loss) Related to Pension Liability [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Pre-tax amount | 15 | 10 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Other Income (Expense), Net [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 | $ 10 | $ 12 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | Dec. 20, 2017 | Mar. 31, 2018 | Dec. 31, 2017 | Mar. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2017 |
Income Tax [Line Items] | ||||||
Effective rate of tax | 18.30% | 26.10% | ||||
Statutory federal income tax rate | 21.00% | |||||
Decrease in amount of excess tax benefits from stock-based compensation | $ 600,000 | |||||
Discrete tax benefit related to the excess tax benefits from stock-based compensation | $ 300,000 | $ 900,000 | ||||
Undistributed earnings of foreign subsidiaries | $ 531,800,000 | $ 531,800,000 | ||||
Canada Revenue Agency [Member] | ||||||
Income Tax [Line Items] | ||||||
Recognition of previous unrecognized tax benefit | $ 1,200,000 | |||||
Current US Federal Rate [Member] | ||||||
Income Tax [Line Items] | ||||||
Statutory federal income tax rate | 35.00% | 21.00% | 35.00% | |||
US 2017 Tax Reform Act [Member] | ||||||
Income Tax [Line Items] | ||||||
Statutory federal income tax rate | 21.00% | 35.00% | 21.00% | |||
Change in tax rate, income tax expense (benefit) | $ 600,000 | |||||
Additional income tax expense/benefit attributable to the enactment of the 2017 Tax Reform Act | 32,700,000 | $ 32,700 | ||||
US 2017 Tax Reform Act [Member] | One-Time Transition Tax on Mandatory Deemed Repatriation of Foreign Earnings [Member] | ||||||
Income Tax [Line Items] | ||||||
Additional income tax expense/benefit attributable to the enactment of the 2017 Tax Reform Act | 32,700,000 | 32,700,000 | ||||
US 2017 Tax Reform Act [Member] | Foreign Withholding Taxes on Certain Anticipated Distributions [Member] | ||||||
Income Tax [Line Items] | ||||||
Additional income tax expense/benefit attributable to the enactment of the 2017 Tax Reform Act | 1,000,000 | 1,000,000 | ||||
US 2017 Tax Reform Act [Member] | Remeasurement of Certain Deferred Tax Assets and Liabilities [Member] | ||||||
Income Tax [Line Items] | ||||||
Additional income tax expense/benefit attributable to the enactment of the 2017 Tax Reform Act | $ (1,000,000) | $ (1,000,000) |
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Basic: | ||
Weighted average common shares outstanding | 41,939 | 41,654 |
Diluted: | ||
Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust | 293 | 251 |
Total weighted average diluted shares outstanding | 42,232 | 41,905 |
Anti-dilutive shares excluded from the diluted earnings per share calculation | 9 | 9 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2016 | Mar. 16, 2016 | Aug. 18, 2011 | |
Equity, Class of Treasury Stock [Line Items] | |||||
Total Number of Shares Repurchased | 0 | 0 | |||
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 |
Commitments and Loss Continge78
Commitments and Loss Contingency - Schedule of Future Minimum Rental Payments under Operating Leases (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2018 (remaining nine months) | $ 336 |
2,019 | 2,779 |
2,020 | 2,887 |
2,021 | 2,949 |
2,022 | 2,976 |
2,023 | 2,524 |
2024 and thereafter | 6,778 |
Total minimum payments required | $ 21,229 |
Commitments and Loss Continge79
Commitments and Loss Contingency - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018 | |
Minimum [Member] | |
Long-term Purchase Commitment [Line Items] | |
Term of agreements with third party vendors | 1 year |
Maximum [Member] | |
Long-term Purchase Commitment [Line Items] | |
Term of agreements with third party vendors | 5 years |
Commitments and Loss Continge80
Commitments and Loss Contingency - Schedule of Future Minimum Purchases Remaining under Agreements (Detail) $ in Thousands | Mar. 31, 2018USD ($) |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2018 (remaining nine months) | $ 6,863 |
2,019 | 3,270 |
2,020 | 253 |
2,021 | 0 |
2,022 | 0 |
2,023 | 0 |
2024 and thereafter | 0 |
Total minimum payments required | $ 10,386 |
Defined Benefit Pension Plan 81
Defined Benefit Pension Plan and Postretirement Benefits - Net Periodic Benefit Cost for Pension Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||
Service cost | $ 114 | $ 125 |
Interest cost | 50 | 49 |
Recognized actuarial (gains) | (15) | (10) |
Net periodic benefit cost | $ 149 | $ 164 |
Defined Benefit Pension Plan 82
Defined Benefit Pension Plan and Postretirement Benefits - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018 | |
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 83
Defined Benefit Pension Plan and Postretirement Benefits - Company's Contributions to Employee Retirement Savings Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Retirement Benefits [Abstract] | ||
401(k) plan contributions | $ 459 | $ 311 |
Defined Benefit Pension Plan 84
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 | Mar. 31, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | ||
Postretirement benefit obligation | $ 14 | $ 15 |
Unrealized gains (losses) in AOCI | $ 110 | $ 120 |
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 | |
Mar. 31, 2018 | Mar. 31, 2017 | |
General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation (expense) | $ (2,077) | $ (2,471) |
Income Taxes [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Income tax benefit | $ 498 | $ 951 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | Dec. 06, 2016 | Dec. 10, 2014 | Mar. 31, 2018 | Dec. 31, 2016 | Jun. 30, 2016 | May 16, 2012 | May 18, 2015 | Dec. 31, 2017 | Jan. 01, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Capitalized stock-based compensation costs | $ 0 | $ 0 | |||||||
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 | $ 200,000 | ||||||||
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 3 months 19 days | ||||||||
Total unrecognized compensation cost | $ 2,100,000 | ||||||||
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 6 months | ||||||||
Total unrecognized compensation cost | $ 19,900,000 | ||||||||
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 | ||||||||
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 | |||||||
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 | ||||||||
Total unrecognized compensation cost | $ 100,000 | ||||||||
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 | $ 11,600,000 | 11,600,000 | |||||||
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] | |||||||||
Amounts deferred by certain senior management personnel | $ 5,000 | ||||||||
Deferred compensation plan, percentage of employee deferral | 80.00% | 100.00% | |||||||
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 | $ 2,100,000 | |||||||
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 | ||||||||
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 Stock Appreciation Rights Activity (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Shares, beginning balance | 734 | |
Granted, Shares | 0 | 0 |
Exercised, Shares | (43) | |
Forfeited or expired, Shares | 0 | |
Outstanding Shares, ending balance | 691 | |
Vested or expected to vest, Shares | 691 | |
Exercisable, Shares | 363 | |
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 3 months 19 days | |
Vested or expected to vest, Weighted Average Remaining Contractual Term | 8 years 3 months 19 days | |
Exercisable, Weighted Average Remaining Contractual Term | 7 years 9 months 18 days | |
Outstanding, Aggregate Intrinsic Value | $ 597 | |
Vested or expected to vest, Aggregate Intrinsic Value | 597 | |
Exercisable, Aggregate Intrinsic Value | $ 597 |
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 0 | 0 |
Weighted average grant-date fair value per SAR | $ 0 | $ 0 |
Intrinsic value of SARs exercised | $ 305 | $ 306 |
Fair value of vested | $ 1,950 | $ 1,846 |
Stock-Based Compensation - Su89
Stock-Based Compensation - Summary of Nonvested Stock Appreciation Rights (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 600 | |
Granted, Shares | 0 | 0 |
Vested, Shares | (272) | |
Forfeited or expired, Shares | 0 | |
Nonvested Shares, ending balance | 328 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 6.88 | |
Granted, Weighted Average Grant-Date Fair Value | 0 | $ 0 |
Vested, Weighted Average Grant-Date Fair Value | 7.16 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 6.64 |
Stock-Based Compensation - Su90
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 1,109 | |
Granted, Shares | 0 | 0 |
Vested, Shares | (323) | |
Forfeited, Shares | (41) | |
Nonvested Shares, ending balance | 745 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 28.50 | |
Granted, Weighted Average Grant-Date Fair Value | 0 | $ 0 |
Vested, Weighted Average Grant-Date Fair Value | 25.78 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 25.78 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.83 |
Stock-Based Compensation - Su91
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 0 | 0 |
Weighted average grant-date fair value | $ 0 | $ 0 |
Fair value of vested | $ 8,342 | $ 6,868 |
Stock-Based Compensation - Su92
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 8 | |
Granted, Shares | 0 | 0 |
Vested, Shares | (7) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 1 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 32.21 | |
Granted, Weighted Average Grant-Date Fair Value | 0 | $ 0 |
Vested, Weighted Average Grant-Date Fair Value | 32.74 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.36 |
Stock-Based Compensation - Su93
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 0 | 0 |
Weighted average grant-date fair value | $ 0 | $ 0 |
Fair value of vested | $ 210 | $ 220 |
Stock-Based Compensation - Su94
Stock-Based Compensation - Summary of Nonvested Common Stock (Detail) - Common Stock Awards [Member] - Deferred Compensation Plan [Member] - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 3 | |
Granted, Shares | 5 | 7 |
Vested, Shares | (4) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 4 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 29.56 | |
Granted, Weighted Average Grant-Date Fair Value | 28.94 | $ 29.40 |
Vested, Weighted Average Grant-Date Fair Value | 28.99 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.34 |
Stock-Based Compensation - Su95
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 | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 5 | 7 |
Weighted average grant-date fair value | $ 28.94 | $ 29.40 |
Fair value of vested | $ 117 | $ 162 |
Cash used to settle the obligation | $ 249 | $ 9 |
Segments and Geographic Infor96
Segments and Geographic Information - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2018SegmentRegion | |
Segment Reporting [Abstract] | |
Number of operating regions | Region | 2 |
Number of reportable segments | Segment | 2 |
Segments and Geographic Infor97
Segments and Geographic Information - Company's Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 414,371 | $ 384,014 |
Percentage of revenues | 100.00% | 100.00% |
Depreciation, net | $ 14,836 | $ 13,348 |
Amortization of intangibles | 4,213 | 5,231 |
Income (loss) from operations | 14,284 | 26,053 |
Total other income (expense), net | (880) | (731) |
Income taxes | (2,456) | (6,610) |
Net income | 10,948 | 18,712 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 340,721 | 320,931 |
Americas [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 340,721 | $ 320,931 |
Percentage of revenues | 82.20% | 83.60% |
Depreciation, net | $ 12,683 | $ 11,468 |
Amortization of intangibles | 3,992 | 4,978 |
Income (loss) from operations | 25,864 | 37,972 |
EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | 73,627 | 63,067 |
EMEA [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 73,627 | $ 63,067 |
Percentage of revenues | 17.80% | 16.40% |
Depreciation, net | $ 1,411 | $ 1,186 |
Amortization of intangibles | 221 | 253 |
Income (loss) from operations | 4,639 | 5,580 |
Other Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 23 | $ 16 |
Percentage of revenues | 0.00% | 0.00% |
Depreciation, net | $ 742 | $ 694 |
Income (loss) from operations | (16,219) | (17,499) |
Total other income (expense), net | (880) | (731) |
Income taxes | $ (2,456) | $ (6,610) |
Segments and Geographic Infor98
Segments and Geographic Information - Operation by Geographic Location (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Segment Reporting Information [Line Items] | ||
Revenue | $ 414,371 | $ 384,014 |
Americas [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 340,721 | 320,931 |
Americas [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 340,721 | 320,931 |
Americas [Member] | Operating Segments [Member] | United States [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 171,446 | 153,643 |
Americas [Member] | Operating Segments [Member] | The Philippines [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 60,086 | 58,540 |
Americas [Member] | Operating Segments [Member] | Costa Rica [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 32,075 | 33,325 |
Americas [Member] | Operating Segments [Member] | Canada [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 27,189 | 29,722 |
Americas [Member] | Operating Segments [Member] | El Salvador [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 20,011 | 18,345 |
Americas [Member] | Operating Segments [Member] | China [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 9,348 | 9,260 |
Americas [Member] | Operating Segments [Member] | Australia [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 7,702 | 6,649 |
Americas [Member] | Operating Segments [Member] | Mexico [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 6,318 | 5,609 |
Americas [Member] | Operating Segments [Member] | Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 6,546 | 5,838 |
EMEA [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 73,627 | 63,067 |
EMEA [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 73,627 | 63,067 |
EMEA [Member] | Operating Segments [Member] | Other [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 13,839 | 12,200 |
EMEA [Member] | Operating Segments [Member] | Germany [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 24,175 | 20,438 |
EMEA [Member] | Operating Segments [Member] | Sweden [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 14,130 | 14,301 |
EMEA [Member] | Operating Segments [Member] | United Kingdom [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 13,347 | 9,735 |
EMEA [Member] | Operating Segments [Member] | Romania [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | 8,136 | 6,393 |
Other Segment [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenue | $ 23 | $ 16 |
Other Income (Expense) - Other
Other Income (Expense) - Other Income (Expense), Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Other Nonoperating Income (Expense) [Abstract] | ||
Foreign currency transaction gains (losses) | $ 1,448 | $ 1,179 |
Gains (losses) on derivative instruments not designated as hedges | (1,082) | (700) |
Other miscellaneous income (expense) | (211) | 334 |
Other income (expense) | $ 155 | $ 813 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | |
Jan. 31, 2008 | Mar. 31, 2018 | Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |||
Duration of lease | 20 years | ||
Payment to landlord under the lease terms | $ 0.1 | $ 0.1 |