Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 19, 2018 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
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 | 42,821,212 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 162,422 | $ 343,734 |
Receivables, net | 347,885 | 341,958 |
Prepaid expenses | 23,516 | 22,132 |
Other current assets | 19,140 | 19,743 |
Total current assets | 552,963 | 727,567 |
Property and equipment, net | 142,920 | 160,790 |
Goodwill, net | 265,991 | 269,265 |
Intangibles, net | 139,829 | 140,277 |
Deferred charges and other assets | 32,698 | 29,193 |
Total assets | 1,134,401 | 1,327,092 |
Current liabilities: | ||
Accounts payable | 22,236 | 32,133 |
Accrued employee compensation and benefits | 98,557 | 102,899 |
Income taxes payable | 843 | 2,606 |
Deferred revenue and customer liabilities | 32,503 | 34,717 |
Other accrued expenses and current liabilities | 36,765 | 30,888 |
Total current liabilities | 190,904 | 203,243 |
Deferred grants | 2,913 | 3,233 |
Long-term debt | 90,000 | 275,000 |
Long-term income tax liabilities | 24,471 | 27,098 |
Other long-term liabilities | 25,250 | 22,039 |
Total liabilities | 333,538 | 530,613 |
Commitments and loss contingency (Note 13) | ||
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; 42,821 and 42,899 shares issued, respectively | 428 | 429 |
Additional paid-in capital | 282,622 | 282,385 |
Retained earnings | 567,988 | 546,843 |
Accumulated other comprehensive income (loss) | (47,933) | (31,104) |
Treasury stock at cost: 122 and 117 shares, respectively | (2,242) | (2,074) |
Total shareholders' equity | 800,863 | 796,479 |
Total liabilities and shareholders' equity | $ 1,134,401 | $ 1,327,092 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Jun. 30, 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 | 42,821,000 | 42,899,000 |
Treasury stock, shares | 122,000 | 117,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Income Statement [Abstract] | ||||
Revenues | $ 396,785 | $ 375,438 | $ 811,156 | $ 759,452 |
Operating expenses: | ||||
Direct salaries and related costs | 264,924 | 248,615 | 539,996 | 495,751 |
General and administrative | 102,037 | 92,236 | 204,477 | 184,280 |
Depreciation, net | 14,560 | 13,820 | 29,396 | 27,168 |
Amortization of intangibles | 3,629 | 5,250 | 7,842 | 10,481 |
Impairment of long-lived assets | 5,175 | 4,189 | 8,701 | 4,391 |
Total operating expenses | 390,325 | 364,110 | 790,412 | 722,071 |
Income from operations | 6,460 | 11,328 | 20,744 | 37,381 |
Other income (expense): | ||||
Interest income | 175 | 144 | 346 | 299 |
Interest (expense) | (1,149) | (1,865) | (2,355) | (3,564) |
Other income (expense), net | (537) | 793 | (382) | 1,606 |
Total other income (expense), net | (1,511) | (928) | (2,391) | (1,659) |
Income before income taxes | 4,949 | 10,400 | 18,353 | 35,722 |
Income taxes | (2,229) | 1,555 | 227 | 8,165 |
Net income | $ 7,178 | $ 8,845 | $ 18,126 | $ 27,557 |
Net income per common share: | ||||
Basic | $ 0.17 | $ 0.21 | $ 0.43 | $ 0.66 |
Diluted | $ 0.17 | $ 0.21 | $ 0.43 | $ 0.66 |
Weighted average common shares outstanding: | ||||
Basic | 42,125 | 41,854 | 42,035 | 41,756 |
Diluted | 42,160 | 41,934 | 42,197 | 41,919 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 7,178 | $ 8,845 | $ 18,126 | $ 27,557 |
Other comprehensive income (loss), net of taxes: | ||||
Foreign currency translation adjustments, net of taxes | (13,597) | 16,484 | (13,306) | 20,382 |
Unrealized gain (loss) on net investment hedges, net of taxes | (2,936) | (3,304) | ||
Unrealized gain (loss) on cash flow hedging instruments, net of taxes | (481) | (396) | (3,374) | 136 |
Unrealized actuarial gain (loss) related to pension liability, net of taxes | (46) | (16) | (129) | (39) |
Unrealized gain (loss) on postretirement obligation, net of taxes | (10) | (12) | (20) | (25) |
Other comprehensive income (loss), net of taxes | (14,134) | 13,124 | (16,829) | 17,150 |
Comprehensive income (loss) | $ (6,956) | $ 21,969 | $ 1,297 | $ 44,707 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity - 6 months ended Jun. 30, 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 | 3,750 | 3,750 | ||||
Issuance of common stock under equity award plans, net of forfeitures | 168 | (168) | ||||
Issuance of common stock under equity award plans, net of forfeitures, Share | 40 | |||||
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) | 1,297 | 18,126 | (16,829) | |||
Ending Balance at Jun. 30, 2018 | 800,863 | $ 428 | $ 282,622 | 567,988 | $ (47,933) | $ (2,242) |
Ending Balance, shares at Jun. 30, 2018 | 42,821 | |||||
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net income | $ 18,126 | $ 27,557 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 29,651 | 27,423 |
Amortization of intangibles | 7,842 | 10,481 |
Amortization of deferred grants | (344) | (374) |
Impairment losses | 8,701 | 4,391 |
Unrealized foreign currency transaction (gains) losses, net | (370) | (611) |
Stock-based compensation expense | 3,750 | 4,732 |
Deferred income tax provision (benefit) | 1,070 | 9,785 |
Unrealized (gains) losses and premiums on financial instruments, net | 625 | 42 |
Amortization of deferred loan fees | 134 | 134 |
Imputed interest expense and fair value adjustments to contingent consideration | (633) | |
Other | (90) | 144 |
Changes in assets and liabilities, net of acquisitions: | ||
Receivables, net | (8,370) | 9,059 |
Prepaid expenses | (1,611) | 78 |
Other current assets | (2,016) | (1,855) |
Deferred charges and other assets | (2,186) | (1,008) |
Accounts payable | (5,499) | 2,420 |
Income taxes receivable / payable | (6,526) | (14,086) |
Accrued employee compensation and benefits | (2,349) | (1,779) |
Other accrued expenses and current liabilities | 5,079 | (2,916) |
Deferred revenue and customer liabilities | (155) | 2,398 |
Other long-term liabilities | 1,922 | (3,813) |
Net cash provided by operating activities | 47,384 | 71,569 |
Cash flows from investing activities: | ||
Capital expenditures | (26,232) | (35,859) |
Cash paid for business acquisitions, net of cash acquired | (7,500) | |
Purchase of intangible assets | (7,606) | (275) |
Other | 484 | 25 |
Net cash (used for) investing activities | (33,354) | (43,609) |
Cash flows from financing activities: | ||
Payments of long-term debt | (190,000) | |
Proceeds from issuance of long-term debt | 5,000 | |
Shares repurchased for tax withholding on equity awards | (3,682) | (3,860) |
Payments of contingent consideration related to acquisitions | (4,528) | |
Other | 38 | 107 |
Net cash (used for) financing activities | (188,644) | (8,281) |
Effects of exchange rates on cash, cash equivalents and restricted cash | (6,748) | 15,159 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (181,362) | 34,838 |
Cash, cash equivalents and restricted cash - beginning | 344,805 | 267,594 |
Cash, cash equivalents and restricted cash - ending | 163,443 | 302,432 |
Supplemental disclosures of cash flow information: | ||
Cash paid during period for interest | 1,975 | 3,066 |
Cash paid during period for income taxes | 12,084 | 17,032 |
Non-cash transactions: | ||
Property and equipment additions in accounts payable | 2,637 | 3,742 |
Unrealized gain (loss) on postretirement obligation, net of taxes in accumulated other comprehensive income (loss) | $ (20) | (25) |
Shares repurchased for tax withholding on equity awards included in current liabilities | $ 119 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 6 Months Ended |
Jun. 30, 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-bearing 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): June 30, 2018 December 31, June 30, 2017 December 31, Cash and cash equivalents $ 162,422 $ 343,734 $ 301,451 $ 266,675 Restricted cash included in “Other current assets” 153 154 158 160 Restricted cash included in “Deferred charges and other assets” 868 917 823 759 $ 163,443 $ 344,805 $ 302,432 $ 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 June 30, 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 $9.6 million and $9.8 million was included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets as of June 30, 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 June 30, 2018 and December 31, 2017. The Company’s proportionate share of XSell’s income (loss) of $(0.1) million and $(0.3) million was included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018, respectively (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 ASC 842. Based on an assessment of the Company’s business and system requirements, the implementation team has selected a lease accounting software solution to assist the Company in complying with ASC 842. The Company expects the adoption of ASC 842 to result in a material increase in the assets and liabilities on the consolidated balance sheets as a result of recognizing right-of-use 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 Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) 2018-02”). 2018-02 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 June 30, 2017: Direct salaries and related costs $ 248,643 $ (28 ) $ 248,615 General and administrative 92,246 (10 ) 92,236 Income from operations 11,290 38 11,328 Other income (expense), net 831 (38 ) 793 Six Months Ended June 30, 2017: Direct salaries and related costs $ 495,808 $ (57 ) $ 495,751 General and administrative 184,300 (20 ) 184,280 Income from operations 37,304 77 37,381 Other income (expense), net 1,683 (77 ) 1,606 |
Revenues
Revenues | 6 Months Ended |
Jun. 30, 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. Revenues recognized under ASC 606 are expected to be slightly higher during 2018 than revenues 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 revenues recognized for the three and six months ended June 30, 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, 2018 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 and customer liabilities 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 June 30, 2018 were as follows (in thousands): As Reported Balances Without the Impact of the Adoption Effect of Adoption Increase (Decrease) June 30, 2018: Receivables, net $ 347,885 $ 345,932 $ 1,953 Deferred charges and other assets 32,698 28,280 4,418 Income taxes payable 843 (733 ) 1,576 Deferred revenue and customer liabilities 32,503 34,585 (2,082 ) Other long-term liabilities 25,250 25,524 (274 ) Retained earnings 567,988 560,837 7,151 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 June 30, 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 June 30, 2018: Revenues $ 396,785 $ 394,483 $ 2,302 Income from operations 6,460 4,158 2,302 Income before income taxes 4,949 2,647 2,302 Income taxes (2,229 ) (2,804 ) 575 Net income 7,178 5,451 1,727 Net income per common share: Basic $ 0.17 $ 0.13 $ 0.04 Diluted $ 0.17 $ 0.13 $ 0.04 The financial statement line items impacted by the adoption of ASC 606 in the Company’s Condensed Consolidated Statement of Operations for the six months ended June 30, 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) Six Months Ended June 30, 2018: Revenues $ 811,156 $ 805,759 $ 5,397 Income from operations 20,744 15,347 5,397 Income before income taxes 18,353 12,956 5,397 Income taxes 227 (1,038 ) 1,265 Net income 18,126 13,994 4,132 Net income per common share: Basic $ 0.43 $ 0.33 $ 0.10 Diluted $ 0.43 $ 0.33 $ 0.10 The Company’s net cash provided by operating activities for the six months ended June 30, 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 revenues 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. The stated term of the Company’s contracts with customers range from 30 days to six years. The majority of these contracts include termination for convenience or without cause provisions allowing either party to cancel the contract without substantial cost or penalty within a defined notification period (“termination rights”), typically varying periods up to 180 days. Because of the termination rights, only the noncancelable portion qualifies as a legally enforceable contract under Step 1, Identify the Contract with a Customer, of ASC 606 (“Step 1”) and is accounted for as such, even if the customer is unlikely to exercise its termination right. Furthermore, the amounts excluded from assessment under Step 1 are, in effect, optional customer purchases of additional services. If the termination right is only provided to the customer, the unsatisfied performance obligations will be evaluated as a customer option. The Company typically does not include options that would result in a material right. If options to purchase additional services or options to renew are included in customer contracts, the Company evaluates the option in order to determine if the arrangement includes promises that may represent a material right and needs to be accounted for as a performance obligation in the contract with the customer. 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 as services are rendered. 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 transaction price, once determined, is allocated to the single performance obligation on a contract by contract basis. 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. 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 portion of the consideration received under the contract that the Company expects to ultimately refund to the customer is excluded from the transaction price and is recorded as a refund liability. 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. Revenues for enterprise support services are recognized over time using output methods such as number of positions filled similar to the 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 revenues in the Other segment. In total, other revenues are immaterial, representing 0.6% and 0.5% of the Company’s consolidated total revenues for the three months ended June 30, 2018 and 2017, respectively, and 0.6% and 0.6% of the Company’s consolidated total revenues for the six months ended June 30, 2018 and 2017, respectively. Disaggregated Revenues The Company disaggregates its revenues from contracts with customers by service type and geographic location (see Note 16, 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 revenues and cash flows are affected by economic factors. The following table represents revenues from contracts with customers disaggregated by service type for the three and six months ended June 30, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Americas: Customer engagement solutions and services $ 326,766 $ 314,603 $ 667,188 $ 635,265 Other revenues 275 268 574 537 Total Americas 327,041 314,871 667,762 635,802 EMEA: Customer engagement solutions and services 67,772 58,836 139,443 119,905 Other revenues 1,948 1,704 3,904 3,702 Total EMEA 69,720 60,540 143,347 123,607 Other: Other revenues 24 27 47 43 Total Other 24 27 47 43 $ 396,785 $ 375,438 $ 811,156 $ 759,452 Trade Accounts Receivable The Company’s trade accounts receivable, net, consists of the following (in thousands): June 30, 2018 January 1, 2018 Trade accounts receivable, net, current (1) $ 334,818 $ 332,014 Trade accounts receivable, net, noncurrent (2) 4,614 2,078 $ 339,432 $ 334,092 (1) (2) 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 Deferred Revenue and Customer Liabilities Deferred revenue and customer liabilities consists of the following (in thousands): June 30, 2018 January 1, 2018 Deferred revenue $ 4,900 $ 4,598 Customer arrangements with termination rights 18,498 21,755 Estimated refund liabilities (1) 9,105 7,316 $ 32,503 $ 33,669 (1) Deferred Revenue The Company receives up-front up-front up-front Revenues of $0.3 million and $4.2 million were recognized during the three and six months ended June 30, 2018, respectively, from amounts included in deferred revenue as of January 1, 2018. The Company expects to recognize its deferred revenue as of June 30, 2018 over the next 180 days. Customer Liabilities – Customer Arrangements with Termination Rights Customer arrangements with termination rights represent the amount of up-front pro-rata up-front Customer Liabilities – Refund Liabilities Refund liabilities represent consideration received under the contract that the Company expects to ultimately refund to the customer and primarily relates to estimated penalties, holdbacks and chargebacks. Penalties and holdbacks result from the failure to meet specified minimum service levels in certain contracts and other performance-based contingencies. Chargebacks reflect 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. Refund liabilities are generally resolved in 180 days, once it is determined whether the requisite service levels and client requirements were achieved to settle the contingency. |
Costs Associated with Exit or D
Costs Associated with Exit or Disposal Activities | 6 Months Ended |
Jun. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
Costs Associated with Exit or Disposal Activities | Note 3. Costs Associated with Exit or Disposal Activities During the second quarter of 2018, the Company initiated a restructuring plan to streamline excess capacity through targeted seat reductions (the “Americas 2018 Exit Plan”) in an on-going The Company’s actions will result in a reduction in seats as well as anticipated general and administrative cost savings, including lower depreciation expense, resulting from the 2018 site closures. The cumulative costs expected and incurred as a result of the Americas 2018 Exit Plan are outlined below as of June 30, 2018 (in thousands): Costs Expected Cumulative Expected Lease obligations and facility exit costs (1) $ 6,692 $ 3,028 $ 3,664 Severance and related costs (2) 3,701 402 3,299 Severance and related costs (1) 488 219 269 Non-cash 5,175 5,175 - $ 16,056 $ 8,824 $ 7,232 (1) (2) The expected remaining severance charges are anticipated to be incurred during the third quarter of 2018. The expected remaining lease obligations and facility exit costs are anticipated to be incurred primarily during the third quarter of 2018 with the balance during the fourth quarter of 2018. The following table summarizes the accrued liability and related charges for the three and six months ended June 30, 2018 (none in 2017) (in thousands): Lease Obligations and Facility Exit Costs Severance and Related Costs Total Balance at the beginning of the period $ - $ - $ - Charges included in “Direct salaries and related costs” - 402 402 Charges included in “General and administrative” 3,028 219 3,247 Cash payments (429 ) (131 ) (560 ) Balance sheet reclassifications (1) 216 - 216 Balance at the end of the period $ 2,815 $ 490 $ 3,305 (1) Restructuring Liability Classification The following table summarizes the Company’s short-term and long-term accrued liabilities associated with the Americas 2018 Exit Plan as of June 30, 2018 (none in 2017) (in thousands): Americas 2018 Exit Plan Short-term accrued restructuring liability (1) $ 2,726 Short-term accrued restructuring liability (2) 490 Long-term accrued restructuring liability (3) 89 Ending accrual at June 30, 2018 $ 3,305 (1) (2) (3) The long-term accrued restructuring liability relates to future rent obligations to be paid through the remainder of the lease terms, the last of which ends in September 2019. |
Fair Value
Fair Value | 6 Months Ended |
Jun. 30, 2018 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 4. Fair Value ASC 820, Fair Value Measurements and Disclosures ● Level 1 — ● Level 2 — ● Level 3 — . Fair Value of Financial Instruments — ● Cash, short-term and other investments, investments held in rabbi trust and accounts payable — ● Foreign currency forward contracts and options — ● Embedded derivatives — ● Long-term debt — ● Contingent consideration — Fair Value Measurements — 820-10-20 ASC 825 Financial Instruments Determination of Fair Value — If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency exchange rates, etc. Assets or liabilities valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. The following section describes the valuation methodologies used by the Company to measure assets and liabilities at fair value on a recurring basis, including an indication of the level in the fair value hierarchy in which each asset or liability is generally classified. Foreign Currency Forward Contracts and Options — Embedded Derivatives — Investments Held in Rabbi Trust — Contingent Consideration — The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following as of June 30, 2018 (in thousands): Fair Value Measurements Using: Balance at Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2018 Level 1 Level 2 Level 3 Assets: Foreign currency forward and option contracts (1) $ 1,354 $ - $ 1,354 $ - Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,557 8,557 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 3,307 3,307 - - $ 13,218 $ 11,864 $ 1,354 $ - Liabilities: Foreign currency forward and option contracts (1) $ 1,903 $ - $ 1,903 $ - Embedded derivatives (1) 598 - - 598 $ 2,501 $ - $ 1,903 $ 598 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 Plan (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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Balance at the beginning of the period $ (409 ) $ (375 ) $ (527 ) $ (555 ) Gains (losses) recognized in “Other income (expense), net” (252 ) 176 (165 ) 315 Settlements 38 25 80 70 Effect of foreign currency 25 3 14 (1 ) Balance at the end of the period $ (598 ) $ (171 ) $ (598 ) $ (171 ) Change in unrealized gains (losses) included in “Other income (expense), net” related to embedded derivatives held at the end of the period $ (253 ) $ 48 $ (171 ) $ 183 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 Six Months Ended June 30, Balance at the beginning of the period $ (5,633 ) $ (6,100 ) Imputed interest (34 ) (68 ) Fair value gain (loss) adjustments (1) 268 701 Settlements 4,402 4,528 Effect of foreign currency (130 ) (188 ) Balance at the end of the period $ (1,127 ) $ (1,127 ) Change in unrealized gains (losses) included in “General and administrative” related to contingent consideration outstanding at the end of the period $ 268 $ 268 (1) The Company recorded a fair value gain of $0.3 million and $0.7 million in “General and administrative” during the three and six months ended June 30, 2017, respectively, related to the Clearlink contingent consideration. All outstanding Clearlink contingent consideration liabilities remaining as of June 30, 2017 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 Statements of Operations for the three and six months ended June 30, 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 June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Americas: Property and equipment, net $ (5,175) $ (4,189) $ (8,701) $ (4,391) In connection with the closure of certain under-utilized customer contact management centers in the U.S. and Canada, the Company recorded impairment charges of $5.2 million and $8.7 million related to leasehold improvements, equipment, furniture and fixtures which were not recoverable during the three and six months ended June 30, 2018, respectively. See Note 3, Costs Associated with Exit or Disposal Activities, for further information. In connection with the closure of an under-utilized customer contact management center in the U.S., the Company recorded an impairment charge of $4.2 million during the three and six months ended June 30, 2017 related to leasehold improvements which were not recoverable and equipment, furniture and fixtures that could not be redeployed to other locations. The Company 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 six months ended June 30, 2017. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 5. Goodwill and Intangible Assets Intangible Assets The following table presents the Company’s purchased intangible assets as of June 30, 2018 (in thousands): Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 169,749 $ (100,859 ) $ 68,890 10 Trade names and trademarks 14,135 (9,651 ) 4,484 7 Non-compete 1,820 (1,356 ) 464 3 Content library 526 (526 ) - 2 Proprietary software 1,040 (655 ) 385 4 Intangible assets not subject to amortization: Domain names 65,606 - 65,606 N/A $ 252,876 $ (113,047) $ 139,829 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 June 30, 2018 is as follows (in thousands): Years Ending December 31, Amount 2018 (remaining six months) 7,230 2019 14,022 2020 11,348 2021 6,799 2022 5,714 2023 4,882 2024 and thereafter 24,228 Goodwill Changes in goodwill for the six months ended June 30, 2018 consist of the following (in thousands): January 1, Acquisition Effect of Foreign Currency June 30, 2018 Americas $ 258,496 $ - $ (2,872 ) $ 255,624 EMEA 10,769 - (402 ) 10,367 $ 269,265 $ - $ (3,274 ) $ 265,991 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 June 30, 2018, the Company believes there were no indicators of impairment related to Qelp’s $10.4 million of goodwill or Clearlink’s $71.0 million of goodwill. |
Financial Derivatives
Financial Derivatives | 6 Months Ended |
Jun. 30, 2018 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | Note 6. Financial Derivatives Cash Flow Hedges Derivatives and Hedging The deferred gains (losses) and related taxes on the Company’s cash flow hedges recorded in “Accumulated other comprehensive income (loss)” (“AOCI”) in the accompanying Condensed Consolidated Balance Sheets are as follows (in thousands): June 30, 2018 December 31, 2017 Deferred gains (losses) in AOCI $ (999 ) $ 2,550 Tax on deferred gains (losses) in AOCI 96 (79 ) Deferred gains (losses) in AOCI, net of taxes $ (903 ) $ 2,471 Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (882 ) 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): June 30, 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 $ 61,750 September 2019 $ 78,000 December 2018 Forwards: US Dollars/Philippine Pesos 53,400 September 2019 3,000 June 2018 US Dollars/Costa Rican Colones 82,500 August 2019 70,000 March 2019 Euros/Hungarian Forints 1,726 December 2018 3,554 December 2018 Euros/Romanian Leis 6,894 December 2018 13,977 December 2018 Non-designated Forwards 6,153 September 2018 9,253 March 2018 Embedded derivatives 12,676 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 June 30, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 1,343 $ 3,604 Foreign currency forward and option contracts (2) 11 - 1,354 3,604 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) - 244 Embedded derivatives (1) - 9 Embedded derivatives (2) - 43 Total derivative assets $ 1,354 $ 3,900 Derivative Liabilities June 30, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 1,595 $ 175 Foreign currency forward and option contracts (4) 129 81 1,724 256 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) 179 - Embedded derivatives (3) 108 189 Embedded derivatives (4) 490 390 Total derivative liabilities $ 2,501 $ 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 June 30, 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) June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (305 ) $ (1,232 ) $ 191 $ (820 ) $ 2 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts - (4,774 ) - - - - $ (305) $ (6,006) $ 191 $ (820) $ 2 $ - 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 June 30, 2018 and 2017 (in thousands): Three Months Ended June 30, 2018 2017 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (93) $ 921 Embedded derivatives (252 ) 176 $ (345 ) $ 1,097 The following table presents the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the six months ended June 30, 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) June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (3,001 ) $ (1,466 ) $ 428 $ (1,580 ) $ 8 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts - (5,373 ) - - - - $ (3,001) $ (6,839) $ 428 $ (1,580) $ 8 $ - 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 six months ended June 30, 2018 and 2017 (in thousands): Six Months Ended June 30, 2018 2017 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (1,262 ) $ 82 Embedded derivatives (165 ) 315 $ (1,427 ) $ 397 |
Investments Held in Rabbi Trust
Investments Held in Rabbi Trust | 6 Months Ended |
Jun. 30, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments Held in Rabbi Trust | Note 7. Investments Held in Rabbi Trust The Company’s investments held in rabbi trust, classified as trading securities and included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets, at fair value, consist of the following (in thousands): June 30, 2018 December 31, 2017 Cost Fair Value Cost Fair Value Mutual funds $ 8,252 $ 11,864 $ 8,096 $ 11,627 The mutual funds held in rabbi trust were 72% equity-based and 28% debt-based as of June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net realized gains (losses) from sale of trading securities $ 27 $ 149 $ 32 $ 149 Dividend and interest income 43 25 68 39 Net unrealized holding gains (losses) 72 149 17 542 Net investment income (losses) $ 142 $ 323 $ 117 $ 730 |
Deferred Grants
Deferred Grants | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Deferred Grants | Note 8. Deferred Grants Deferred grants, net of accumulated amortization, consist of the following (in thousands): June 30, 2018 December 31, 2017 Property grants $ 2,587 $ 2,843 Lease grants 441 507 Employment grants 68 61 Total deferred grants 3,096 3,411 Less: Lease grants - short-term (1) (115 ) (117 ) Less: Employment grants - short-term (1) (68 ) (61 ) Total long-term deferred grants $ 2,913 $ 3,233 (1) |
Borrowings
Borrowings | 6 Months Ended |
Jun. 30, 2018 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 9. 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 $90.0 million and $275.0 million at June 30, 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 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Average daily utilization $ 100,110 $ 267,000 $ 110,691 $ 267,000 Interest expense (1), (2) $ 915 $ 1,600 $ 1,916 $ 3,043 Weighted average interest rate (2) 3.7 % 2.4 % 3.5 % 2.3 % (1) (2) In January 2018, the Company repaid $175.0 million of long-term debt outstanding under its Credit Agreement, primarily using funds repatriated from its foreign subsidiaries. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 6 Months Ended |
Jun. 30, 2018 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 10. 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 Adjustments 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 (13,522 ) - (2,993 ) - - (16,515 ) Tax (provision) benefit - - 194 7 - 201 Reclassification of (gain) loss to net income - - (460 ) (35 ) (20 ) (515 ) Foreign currency translation 216 - (115 ) (101 ) - - Balance at June 30, 2018 $ (49,621 ) $ 1,046 $ (903 ) $ 1,445 $ 100 $ (47,933 ) 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 Six Months Ended June 30, Statements of Operations 2018 2017 2018 2017 Location Gain (Loss) on Cash Flow Hedging Instruments: (1) Pre-tax $ 193 $ (820 ) $ 436 $ (1,580 ) Revenues Tax (provision) benefit 17 17 24 58 Income taxes Reclassification to net income 210 (803 ) 460 (1,522 ) Actuarial Gain (Loss) Related to Pension Liability: (2) Pre-tax 14 11 29 21 Other income Tax (provision) benefit 3 - 6 - Income taxes Reclassification to net income 17 11 35 21 Gain (Loss) on Post Retirement Obligation: (2),(3) Reclassification to net income 10 13 20 25 Other income Total reclassification of gain (loss) to net income $ 237 $ (779 ) $ 515 $ (1,476 ) (1) (2) (3) As discussed in Note 11, 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 | 6 Months Ended |
Jun. 30, 2018 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 11. Income Taxes The Company’s effective tax rates were (45.0)% and 15.0% for the three months ended June 30, 2018 and 2017, respectively. The decrease in the effective tax rate in 2018 compared to 2017 was primarily due to a $2.0 million increase in benefit associated with the settlement of tax audits and ancillary issues. In addition, the Company recognized a benefit of $0.5 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. 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 Company’s effective tax rates were 1.2% and 22.9% for the six months ended June 30, 2018 and 2017, respectively. The decrease in the effective tax rate was primarily due to the aforementioned $2.0 million increase in discrete benefit. In addition, the Company recognized a benefit of $1.1 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 the six months ended June 30, 2018 as compared to June 30, 2017. 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 June 30, 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 and six months ended June 30, 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. During the three months ended June 30, 2018, the Company finalized procedures ancillary to the Canadian audit and recognized an additional $2.7 million income tax benefit due to the elimination of certain assessed penalties, interest and withholding taxes. 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 | 6 Months Ended |
Jun. 30, 2018 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 12. 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Basic: Weighted average common shares outstanding 42,125 41,854 42,035 41,756 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 35 80 162 163 Total weighted average diluted shares outstanding 42,160 41,934 42,197 41,919 Anti-dilutive shares excluded from the diluted earnings per share calculation 31 46 6 16 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 and six months ended June 30, 2018 and 2017. |
Commitments and Loss Contingenc
Commitments and Loss Contingency | 6 Months Ended |
Jun. 30, 2018 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Loss Contingency | Note 13. Commitments and Loss Contingency Commitments During the six months ended June 30, 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 June 30, 2018 (in thousands): Amount 2018 (remaining six months) $ 630 2019 8,118 2020 8,520 2021 8,643 2022 7,959 2023 3,343 2024 and thereafter 8,211 $ 45,424 During the six months ended June 30, 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 June 30, 2018 (in thousands): Amount 2018 (remaining six months) $ 10,237 2019 6,346 2020 1,699 2021 193 2022 - 2023 - 2024 and thereafter - $ 18,475 Loss Contingency Contingencies are recorded in the consolidated financial statements when it is probable that a liability will be incurred and the amount of the loss is reasonably estimable, or otherwise disclosed, in accordance with ASC 450, Contingencies The Company received a state audit assessment and is currently rebutting the position. The Company has determined that the likelihood of a liability is reasonably possible and developed a range of possible loss up to $1.0 million, net of federal benefit. 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 | 6 Months Ended |
Jun. 30, 2018 | |
Retirement Benefits [Abstract] | |
Defined Benefit Pension Plan and Postretirement Benefits | Note 14. 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Service cost $ 109 $ 128 $ 223 $ 253 Interest cost 48 49 98 98 Recognized actuarial (gains) (14 ) (11 ) (29 ) (21 ) $ 143 $ 166 $ 292 $ 330 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 Statements of Operations for the three and six months ended June 30, 3018 and 2017. The remaining components of net periodic benefit cost were included in “Other income (expense), net” in the Company’s Condensed Consolidated Statements of Operations for the three and six months ended June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 401(k) plan contributions $ 344 $ 309 $ 803 $ 620 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): June 30, 2018 December 31, 2017 Postretirement benefit obligation $ 12 $ 15 Unrealized gains (losses) in AOCI (1) 100 120 (1) |
Stock-Based Compensation
Stock-Based Compensation | 6 Months Ended |
Jun. 30, 2018 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Note 15. Stock-Based Compensation The Company’s stock-based compensation plans include the 2011 Equity Incentive Plan, the Non-Employee Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Stock-based compensation (expense) (1) $ (1,673 ) $ (2,261 ) $ (3,750 ) $ (4,732 ) Income tax benefit (2) 402 871 900 1,822 (1) (2) There were no capitalized stock-based compensation costs as of June 30, 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 the assumptions used to estimate the fair value of SARS granted: Six Months Ended June 30, 2018 2017 Expected volatility 21.4 % 19.3 % Weighted-average volatility 21.4 % 19.3 % Expected dividend rate 0.0 % 0.0 % Expected term (in years) 5.0 5.0 Risk-free rate 2.5 % 1.9 % The following table summarizes SARs activity as of June 30, 2018 and for the six 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 333 $ - Exercised (43 ) $ - Forfeited or expired - $ - Outstanding at June 30, 2018 1,024 $ - 8.6 $ 790 Vested or expected to vest at June 30, 2018 1,024 $ - 8.6 $ 790 Exercisable at June 30, 2018 363 $ - 7.6 $ 580 The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): Six Months Ended June 30, 2018 2017 Number of SARs granted 333 396 Weighted average grant-date fair value per SAR $ 6.84 $ 6.24 Intrinsic value of SARs exercised $ 305 $ 1,678 Fair value of SARs vested $ 1,950 $ 1,846 The following table summarizes nonvested SARs activity as of June 30, 2018 and for the six months then ended: Nonvested Stock Appreciation Rights Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 600 $ 6.88 Granted 333 $ 6.84 Vested (272 ) $ 7.16 Forfeited or expired - $ - Nonvested at June 30, 2018 661 $ 6.74 As of June 30, 2018, there was $4.0 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 1.5 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 June 30, 2018 and for the six 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 488 $ 28.15 Vested (323 ) $ 25.78 Forfeited or expired (59 ) $ 27.00 Nonvested at June 30, 2018 1,215 $ 29.15 The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): Six Months Ended June 30, 2018 2017 Number of restricted shares/RSUs granted 488 480 Weighted average grant-date fair value per restricted share/RSU $ 28.15 $ 29.42 Fair value of restricted shares/RSUs vested $ 8,342 $ 6,868 As of June 30, 2018, there was $32.3 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested restricted shares/RSUs granted under the 2011 Plan. This cost is expected to be recognized over a weighted average period of 1.8 years. Non-Employee — Non-Employee non-employee one-twelfth one-twelfth non-employee The 2004 Fee Plan also provided that each non-employee non-employee one-fourth one-fourth non-employee one-eighth one-eighth Non-Employee two-year one-year one-fourth one-fourth non-employee In addition to the Annual Retainer award, the 2004 Fee Plan also provided for any non-employee non-employee 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 June 30, 2018 and for the six 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 34 $ 27.68 Vested (15 ) $ 29.87 Forfeited or expired - $ - Nonvested at June 30, 2018 27 $ 27.73 The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): Six Months Ended June 30, 2018 2017 Number of share awards granted 34 24 Weighted average grant-date fair value per share award $ 27.68 $ 32.93 Fair value of share awards vested $ 450 $ 430 As of June 30, 2018, there was $0.7 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 June 30, 2018 and December 31, 2017, liabilities of $11.8 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 $2.2 million and $2.1 million as of June 30, 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 June 30, 2018 and for the six months then ended: Nonvested Common Stock Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 3 $ 29.56 Granted 10 $ 28.86 Vested (7 ) $ 28.89 Forfeited or expired - $ - Nonvested at June 30, 2018 6 $ 29.19 The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): Six Months Ended June 30, 2018 2017 Number of shares of common stock granted 10 10 Weighted average grant-date fair value per common stock $ 28.86 $ 30.66 Fair value of common stock vested $ 213 $ 240 Cash used to settle the obligation $ 644 $ 422 As of June 30, 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 | 6 Months Ended |
Jun. 30, 2018 | |
Segment Reporting [Abstract] | |
Segments and Geographic Information | Note 16. 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 June 30, 2018: Revenues $ 327,041 $ 69,720 $ 24 $ 396,785 Percentage of revenues 82.4 % 17.6 % 0.0 % 100.0 % Depreciation, net $ 12,335 $ 1,476 $ 749 $ 14,560 Amortization of intangibles $ 3,415 $ 214 $ - $ 3,629 Income (loss) from operations $ 19,824 $ 2,220 $ (15,584 ) $ 6,460 Total other income (expense), net (1,511 ) (1,511 ) Income taxes 2,229 2,229 Net income $ 7,178 Three Months Ended June 30, 2017: Revenues $ 314,871 $ 60,540 $ 27 $ 375,438 Percentage of revenues 83.9 % 16.1 % 0.0 % 100.0 % Depreciation, net $ 11,842 $ 1,254 $ 724 $ 13,820 Amortization of intangibles $ 4,989 $ 261 $ - $ 5,250 Income (loss) from operations $ 26,127 $ 2,163 $ (16,962) $ 11,328 Total other income (expense), net (928 ) (928 ) Income taxes (1,555 ) (1,555 ) Net income $ 8,845 Six Months Ended June 30, 2018: Revenues $ 667,762 $ 143,347 $ 47 $ 811,156 Percentage of revenues 82.3 % 17.7 % 0.0 % 100.0 % Depreciation, net $ 25,018 $ 2,887 $ 1,491 $ 29,396 Amortization of intangibles $ 7,407 $ 435 $ - $ 7,842 Income (loss) from operations $ 45,688 $ 6,859 $ (31,803) $ 20,744 Total other income (expense), net (2,391 ) (2,391 ) Income taxes (227 ) (227 ) Net income $ 18,126 Six Months Ended June 30, 2017: Revenues $ 635,802 $ 123,607 $ 43 $ 759,452 Percentage of revenues 83.7 % 16.3 % 0.0 % 100.0 % Depreciation, net $ 23,310 $ 2,440 $ 1,418 $ 27,168 Amortization of intangibles $ 9,967 $ 514 $ — $ 10,481 Income (loss) from operations $ 64,099 $ 7,743 $ (34,461) $ 37,381 Total other income (expense), net (1,659 ) (1,659 ) Income taxes (8,165 ) (8,165 ) Net income $ 27,557 (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 and six months ended June 30, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Americas: United States $ 165,648 $ 151,654 $ 337,094 $ 305,298 The Philippines 56,571 56,779 116,657 115,319 Costa Rica 30,973 32,924 63,048 66,249 Canada 24,828 27,020 52,017 56,742 El Salvador 20,584 18,369 40,595 36,714 People’s Republic of China 8,149 9,282 17,497 18,542 Australia 7,700 6,440 15,402 13,090 Mexico 5,632 5,832 11,950 11,441 Other 6,956 6,571 13,502 12,407 Total Americas 327,041 314,871 667,762 635,802 EMEA: Germany 22,404 18,457 46,579 38,894 Sweden 13,674 14,043 27,804 28,344 United Kingdom 11,960 9,407 25,307 19,140 Romania 8,191 6,685 16,327 13,078 Other 13,491 11,948 27,330 24,151 Total EMEA 69,720 60,540 143,347 123,607 Total Other 24 27 47 43 $ 396,785 $ 375,438 $ 811,156 $ 759,452 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) | 6 Months Ended |
Jun. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense) | Note 17. Other Income (Expense) Other income (expense), net consists of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Foreign currency transaction gains (losses) $ 641 $ (535 ) $ 2,089 $ 644 Gains (losses) on derivative instruments not designated as hedges (345 ) 1,097 (1,427 ) 397 Other miscellaneous income (expense) (833 ) 231 (1,044 ) 565 $ (537 ) $ 793 $ (382 ) $ 1,606 |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2018 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 18. 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 During the three and six months ended June 30, 2018, the Company contracted to receive services from XSell, an equity method investee, for $0.1 million. There were no such transactions in 2017. These related party transactions occurred in the normal course of business on terms and conditions that are similar to those of transactions with unrelated parties and, therefore, were measured at the exchange amount. |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2018 | |
Subsequent Events [Abstract] | |
Subsequent Event | Note 19. Subsequent Event On July 9, 2018, the Company as guarantor and its wholly-owned subsidiaries, Sykes Australia Pty Ltd, an Australian company, and Clear Link Technologies, LLC, a Delaware limited liability company, entered into a Sale Agreement with WhistleOut Nominees Pty Ltd as trustee for the WhistleOut Holdings Unit Trust, CPC Investments USA Pty Ltd, JJZL Pty Ltd, Kenneth Wong as trustee for Wong Family Trust and C41 Pty Ltd as trustee for the Ottery Family Trust (together, the “Sellers”) to acquire all of the outstanding shares of WhistleOut. The aggregate purchase price of AUD 30.2 million ($22.4 million), paid at the closing of the transaction on July 9, 2018, is subject to certain post-closing adjustments related to WhistleOut’s working capital. The purchase price was funded through $22.0 million of additional borrowings under the Company’s Credit Agreement. The Sale Agreement provides for a three-year, retention based earnout of AUD 14.0 million. The Sale Agreement contains customary representations and warranties, indemnification obligations and covenants. |
Overview and Basis of Present27
Overview and Basis of Presentation (Policies) | 6 Months Ended |
Jun. 30, 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-bearing 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): June 30, 2018 December 31, June 30, 2017 December 31, Cash and cash equivalents $ 162,422 $ 343,734 $ 301,451 $ 266,675 Restricted cash included in “Other current assets” 153 154 158 160 Restricted cash included in “Deferred charges and other assets” 868 917 823 759 $ 163,443 $ 344,805 $ 302,432 $ 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 June 30, 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 $9.6 million and $9.8 million was included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets as of June 30, 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 June 30, 2018 and December 31, 2017. The Company’s proportionate share of XSell’s income (loss) of $(0.1) million and $(0.3) million was included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2018, respectively (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 ASC 842. Based on an assessment of the Company’s business and system requirements, the implementation team has selected a lease accounting software solution to assist the Company in complying with ASC 842. The Company expects the adoption of ASC 842 to result in a material increase in the assets and liabilities on the consolidated balance sheets as a result of recognizing right-of-use 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 Other Comprehensive Income In February 2018, the FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income (Topic 220) 2018-02”). 2018-02 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 June 30, 2017: Direct salaries and related costs $ 248,643 $ (28 ) $ 248,615 General and administrative 92,246 (10 ) 92,236 Income from operations 11,290 38 11,328 Other income (expense), net 831 (38 ) 793 Six Months Ended June 30, 2017: Direct salaries and related costs $ 495,808 $ (57 ) $ 495,751 General and administrative 184,300 (20 ) 184,280 Income from operations 37,304 77 37,381 Other income (expense), net 1,683 (77 ) 1,606 |
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 — |
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 |
Foreign Currency and Derivative Instruments | Cash Flow Hedges Derivatives and Hedging |
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. |
Overview and Basis of Present28
Overview and Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 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): June 30, 2018 December 31, June 30, 2017 December 31, Cash and cash equivalents $ 162,422 $ 343,734 $ 301,451 $ 266,675 Restricted cash included in “Other current assets” 153 154 158 160 Restricted cash included in “Deferred charges and other assets” 868 917 823 759 $ 163,443 $ 344,805 $ 302,432 $ 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, 2018 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 and customer liabilities 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 Statements of Operations for the three and six months ended June 30, 2017 (in thousands): As Previously Reported Adjustments Due to the Adoption of ASU 2017-07 As Revised Three Months Ended June 30, 2017: Direct salaries and related costs $ 248,643 $ (28 ) $ 248,615 General and administrative 92,246 (10 ) 92,236 Income from operations 11,290 38 11,328 Other income (expense), net 831 (38 ) 793 Six Months Ended June 30, 2017: Direct salaries and related costs $ 495,808 $ (57 ) $ 495,751 General and administrative 184,300 (20 ) 184,280 Income from operations 37,304 77 37,381 Other income (expense), net 1,683 (77 ) 1,606 |
Revenues (Tables)
Revenues (Tables) | 6 Months Ended |
Jun. 30, 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 and six months ended June 30, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Americas: Customer engagement solutions and services $ 326,766 $ 314,603 $ 667,188 $ 635,265 Other revenues 275 268 574 537 Total Americas 327,041 314,871 667,762 635,802 EMEA: Customer engagement solutions and services 67,772 58,836 139,443 119,905 Other revenues 1,948 1,704 3,904 3,702 Total EMEA 69,720 60,540 143,347 123,607 Other: Other revenues 24 27 47 43 Total Other 24 27 47 43 $ 396,785 $ 375,438 $ 811,156 $ 759,452 |
Summary of Trade Accounts Receivable, Net | The Company’s trade accounts receivable, net, consists of the following (in thousands): June 30, 2018 January 1, 2018 Trade accounts receivable, net, current (1) $ 334,818 $ 332,014 Trade accounts receivable, net, noncurrent (2) 4,614 2,078 $ 339,432 $ 334,092 (1) (2) |
Components of Deferred Revenue and Customer Liabilities | Deferred revenue and customer liabilities consists of the following (in thousands): June 30, 2018 January 1, 2018 Deferred revenue $ 4,900 $ 4,598 Customer arrangements with termination rights 18,498 21,755 Estimated refund liabilities (1) 9,105 7,316 $ 32,503 $ 33,669 (1) |
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 June 30, 2018 were as follows (in thousands): As Reported Balances Without the Impact of the Adoption Effect of Adoption Increase (Decrease) June 30, 2018: Receivables, net $ 347,885 $ 345,932 $ 1,953 Deferred charges and other assets 32,698 28,280 4,418 Income taxes payable 843 (733 ) 1,576 Deferred revenue and customer liabilities 32,503 34,585 (2,082 ) Other long-term liabilities 25,250 25,524 (274 ) Retained earnings 567,988 560,837 7,151 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 June 30, 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 June 30, 2018: Revenues $ 396,785 $ 394,483 $ 2,302 Income from operations 6,460 4,158 2,302 Income before income taxes 4,949 2,647 2,302 Income taxes (2,229 ) (2,804 ) 575 Net income 7,178 5,451 1,727 Net income per common share: Basic $ 0.17 $ 0.13 $ 0.04 Diluted $ 0.17 $ 0.13 $ 0.04 The financial statement line items impacted by the adoption of ASC 606 in the Company’s Condensed Consolidated Statement of Operations for the six months ended June 30, 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) Six Months Ended June 30, 2018: Revenues $ 811,156 $ 805,759 $ 5,397 Income from operations 20,744 15,347 5,397 Income before income taxes 18,353 12,956 5,397 Income taxes 227 (1,038 ) 1,265 Net income 18,126 13,994 4,132 Net income per common share: Basic $ 0.43 $ 0.33 $ 0.10 Diluted $ 0.43 $ 0.33 $ 0.10 |
Costs Associated with Exit or30
Costs Associated with Exit or Disposal Activities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Restructuring and Related Activities [Abstract] | |
Cumulative Costs Expected and Incurred as a Result of Exit Plan | The cumulative costs expected and incurred as a result of the Americas 2018 Exit Plan are outlined below as of June 30, 2018 (in thousands): Costs Expected Cumulative Expected Lease obligations and facility exit costs (1) $ 6,692 $ 3,028 $ 3,664 Severance and related costs (2) 3,701 402 3,299 Severance and related costs (1) 488 219 269 Non-cash 5,175 5,175 - $ 16,056 $ 8,824 $ 7,232 (1) (2) |
Summary of Accrued Liability and Related Charges | The following table summarizes the accrued liability and related charges for the three and six months ended June 30, 2018 (none in 2017) (in thousands): Lease Obligations and Facility Exit Costs Severance and Related Costs Total Balance at the beginning of the period $ - $ - $ - Charges included in “Direct salaries and related costs” - 402 402 Charges included in “General and administrative” 3,028 219 3,247 Cash payments (429 ) (131 ) (560 ) Balance sheet reclassifications (1) 216 - 216 Balance at the end of the period $ 2,815 $ 490 $ 3,305 (1) |
Summary of Company's Short-term and Long-term Accrued Liability with Exit Plan | The following table summarizes the Company’s short-term and long-term accrued liabilities associated with the Americas 2018 Exit Plan as of June 30, 2018 (none in 2017) (in thousands): Americas 2018 Exit Plan Short-term accrued restructuring liability (1) $ 2,726 Short-term accrued restructuring liability (2) 490 Long-term accrued restructuring liability (3) 89 Ending accrual at June 30, 2018 $ 3,305 (1) (2) (3) |
Fair Value (Tables)
Fair Value (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2018 (in thousands): Fair Value Measurements Using: Balance at Quoted Prices in Active Markets For Identical Assets Significant Other Observable Inputs Significant Unobservable Inputs June 30, 2018 Level 1 Level 2 Level 3 Assets: Foreign currency forward and option contracts (1) $ 1,354 $ - $ 1,354 $ - Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,557 8,557 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 3,307 3,307 - - $ 13,218 $ 11,864 $ 1,354 $ - Liabilities: Foreign currency forward and option contracts (1) $ 1,903 $ - $ 1,903 $ - Embedded derivatives (1) 598 - - 598 $ 2,501 $ - $ 1,903 $ 598 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 Plan (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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Balance at the beginning of the period $ (409 ) $ (375 ) $ (527 ) $ (555 ) Gains (losses) recognized in “Other income (expense), net” (252 ) 176 (165 ) 315 Settlements 38 25 80 70 Effect of foreign currency 25 3 14 (1 ) Balance at the end of the period $ (598 ) $ (171 ) $ (598 ) $ (171 ) Change in unrealized gains (losses) included in “Other income (expense), net” related to embedded derivatives held at the end of the period $ (253 ) $ 48 $ (171 ) $ 183 |
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 Six Months Ended June 30, Balance at the beginning of the period $ (5,633 ) $ (6,100 ) Imputed interest (34 ) (68 ) Fair value gain (loss) adjustments (1) 268 701 Settlements 4,402 4,528 Effect of foreign currency (130 ) (188 ) Balance at the end of the period $ (1,127 ) $ (1,127 ) Change in unrealized gains (losses) included in “General and administrative” related to contingent consideration outstanding at the end of the period $ 268 $ 268 (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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Americas: Property and equipment, net $ (5,175) $ (4,189) $ (8,701) $ (4,391) |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Company's Purchased Intangible Assets | The following table presents the Company’s purchased intangible assets as of June 30, 2018 (in thousands): Gross Intangibles Accumulated Amortization Net Intangibles Weighted Average Amortization Period (years) Intangible assets subject to amortization: Customer relationships $ 169,749 $ (100,859 ) $ 68,890 10 Trade names and trademarks 14,135 (9,651 ) 4,484 7 Non-compete 1,820 (1,356 ) 464 3 Content library 526 (526 ) - 2 Proprietary software 1,040 (655 ) 385 4 Intangible assets not subject to amortization: Domain names 65,606 - 65,606 N/A $ 252,876 $ (113,047) $ 139,829 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 June 30, 2018 is as follows (in thousands): Years Ending December 31, Amount 2018 (remaining six months) 7,230 2019 14,022 2020 11,348 2021 6,799 2022 5,714 2023 4,882 2024 and thereafter 24,228 |
Changes in Goodwill | Changes in goodwill for the six months ended June 30, 2018 consist of the following (in thousands): January 1, Acquisition Effect of Foreign Currency June 30, 2018 Americas $ 258,496 $ - $ (2,872 ) $ 255,624 EMEA 10,769 - (402 ) 10,367 $ 269,265 $ - $ (3,274 ) $ 265,991 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) | 6 Months Ended |
Jun. 30, 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): June 30, 2018 December 31, 2017 Deferred gains (losses) in AOCI $ (999 ) $ 2,550 Tax on deferred gains (losses) in AOCI 96 (79 ) Deferred gains (losses) in AOCI, net of taxes $ (903 ) $ 2,471 Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (882 ) |
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): June 30, 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 $ 61,750 September 2019 $ 78,000 December 2018 Forwards: US Dollars/Philippine Pesos 53,400 September 2019 3,000 June 2018 US Dollars/Costa Rican Colones 82,500 August 2019 70,000 March 2019 Euros/Hungarian Forints 1,726 December 2018 3,554 December 2018 Euros/Romanian Leis 6,894 December 2018 13,977 December 2018 Non-designated Forwards 6,153 September 2018 9,253 March 2018 Embedded derivatives 12,676 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 June 30, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 1,343 $ 3,604 Foreign currency forward and option contracts (2) 11 - 1,354 3,604 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) - 244 Embedded derivatives (1) - 9 Embedded derivatives (2) - 43 Total derivative assets $ 1,354 $ 3,900 Derivative Liabilities June 30, 2018 December 31, 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 1,595 $ 175 Foreign currency forward and option contracts (4) 129 81 1,724 256 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) 179 - Embedded derivatives (3) 108 189 Embedded derivatives (4) 490 390 Total derivative liabilities $ 2,501 $ 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 June 30, 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) June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (305 ) $ (1,232 ) $ 191 $ (820 ) $ 2 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts - (4,774 ) - - - - $ (305) $ (6,006) $ 191 $ (820) $ 2 $ - 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 June 30, 2018 and 2017 (in thousands): Three Months Ended June 30, 2018 2017 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (93) $ 921 Embedded derivatives (252 ) 176 $ (345 ) $ 1,097 The following table presents the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the six months ended June 30, 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) June 30, June 30, June 30, 2018 2017 2018 2017 2018 2017 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (3,001 ) $ (1,466 ) $ 428 $ (1,580 ) $ 8 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts - (5,373 ) - - - - $ (3,001) $ (6,839) $ 428 $ (1,580) $ 8 $ - 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 six months ended June 30, 2018 and 2017 (in thousands): Six Months Ended June 30, 2018 2017 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (1,262 ) $ 82 Embedded derivatives (165 ) 315 $ (1,427 ) $ 397 |
Investments Held in Rabbi Tru34
Investments Held in Rabbi Trust (Tables) | 6 Months Ended |
Jun. 30, 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): June 30, 2018 December 31, 2017 Cost Fair Value Cost Fair Value Mutual funds $ 8,252 $ 11,864 $ 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 72% equity-based and 28% debt-based as of June 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Net realized gains (losses) from sale of trading securities $ 27 $ 149 $ 32 $ 149 Dividend and interest income 43 25 68 39 Net unrealized holding gains (losses) 72 149 17 542 Net investment income (losses) $ 142 $ 323 $ 117 $ 730 |
Deferred Grants (Tables)
Deferred Grants (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Text Block [Abstract] | |
Schedule of Deferred Grants, Net of Accumulated Amortization | Deferred grants, net of accumulated amortization, consist of the following (in thousands): June 30, 2018 December 31, 2017 Property grants $ 2,587 $ 2,843 Lease grants 441 507 Employment grants 68 61 Total deferred grants 3,096 3,411 Less: Lease grants - short-term (1) (115 ) (117 ) Less: Employment grants - short-term (1) (68 ) (61 ) Total long-term deferred grants $ 2,913 $ 3,233 (1) |
Borrowings (Tables)
Borrowings (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Average daily utilization $ 100,110 $ 267,000 $ 110,691 $ 267,000 Interest expense (1), (2) $ 915 $ 1,600 $ 1,916 $ 3,043 Weighted average interest rate (2) 3.7 % 2.4 % 3.5 % 2.3 % (1) (2) |
Accumulated Other Comprehensi37
Accumulated Other Comprehensive Income (Loss) (Tables) | 6 Months Ended |
Jun. 30, 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 Adjustments 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 (13,522 ) - (2,993 ) - - (16,515 ) Tax (provision) benefit - - 194 7 - 201 Reclassification of (gain) loss to net income - - (460 ) (35 ) (20 ) (515 ) Foreign currency translation 216 - (115 ) (101 ) - - Balance at June 30, 2018 $ (49,621 ) $ 1,046 $ (903 ) $ 1,445 $ 100 $ (47,933 ) |
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 Six Months Ended June 30, Statements of Operations 2018 2017 2018 2017 Location Gain (Loss) on Cash Flow Hedging Instruments: (1) Pre-tax $ 193 $ (820 ) $ 436 $ (1,580 ) Revenues Tax (provision) benefit 17 17 24 58 Income taxes Reclassification to net income 210 (803 ) 460 (1,522 ) Actuarial Gain (Loss) Related to Pension Liability: (2) Pre-tax 14 11 29 21 Other income Tax (provision) benefit 3 - 6 - Income taxes Reclassification to net income 17 11 35 21 Gain (Loss) on Post Retirement Obligation: (2),(3) Reclassification to net income 10 13 20 25 Other income Total reclassification of gain (loss) to net income $ 237 $ (779 ) $ 515 $ (1,476 ) (1) (2) (3) |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Basic: Weighted average common shares outstanding 42,125 41,854 42,035 41,756 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 35 80 162 163 Total weighted average diluted shares outstanding 42,160 41,934 42,197 41,919 Anti-dilutive shares excluded from the diluted earnings per share calculation 31 46 6 16 |
Commitments and Loss Continge39
Commitments and Loss Contingency (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2018 (in thousands): Amount 2018 (remaining six months) $ 630 2019 8,118 2020 8,520 2021 8,643 2022 7,959 2023 3,343 2024 and thereafter 8,211 $ 45,424 |
Schedule of Future Minimum Purchases Remaining under Agreements | The following is a schedule of the future minimum purchases remaining under the agreements as of June 30, 2018 (in thousands): Amount 2018 (remaining six months) $ 10,237 2019 6,346 2020 1,699 2021 193 2022 - 2023 - 2024 and thereafter - $ 18,475 |
Defined Benefit Pension Plan 40
Defined Benefit Pension Plan and Postretirement Benefits (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Service cost $ 109 $ 128 $ 223 $ 253 Interest cost 48 49 98 98 Recognized actuarial (gains) (14 ) (11 ) (29 ) (21 ) $ 143 $ 166 $ 292 $ 330 |
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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 401(k) plan contributions $ 344 $ 309 $ 803 $ 620 |
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): June 30, 2018 December 31, 2017 Postretirement benefit obligation $ 12 $ 15 Unrealized gains (losses) in AOCI (1) 100 120 (1) |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, Six Months Ended June 30, 2018 2017 2018 2017 Stock-based compensation (expense) (1) $ (1,673 ) $ (2,261 ) $ (3,750 ) $ (4,732 ) Income tax benefit (2) 402 871 900 1,822 (1) (2) |
Summary of Assumptions Used to Estimate Fair Value | The following table summarizes the assumptions used to estimate the fair value of SARS granted: Six Months Ended June 30, 2018 2017 Expected volatility 21.4 % 19.3 % Weighted-average volatility 21.4 % 19.3 % Expected dividend rate 0.0 % 0.0 % Expected term (in years) 5.0 5.0 Risk-free rate 2.5 % 1.9 % |
Summary of Stock Appreciation Rights Activity | The following table summarizes SARs activity as of June 30, 2018 and for the six 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 333 $ - Exercised (43 ) $ - Forfeited or expired - $ - Outstanding at June 30, 2018 1,024 $ - 8.6 $ 790 Vested or expected to vest at June 30, 2018 1,024 $ - 8.6 $ 790 Exercisable at June 30, 2018 363 $ - 7.6 $ 580 |
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): Six Months Ended June 30, 2018 2017 Number of SARs granted 333 396 Weighted average grant-date fair value per SAR $ 6.84 $ 6.24 Intrinsic value of SARs exercised $ 305 $ 1,678 Fair value of SARs vested $ 1,950 $ 1,846 |
Summary of Nonvested Stock Appreciation Rights | The following table summarizes nonvested SARs activity as of June 30, 2018 and for the six months then ended: Nonvested Stock Appreciation Rights Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 600 $ 6.88 Granted 333 $ 6.84 Vested (272 ) $ 7.16 Forfeited or expired - $ - Nonvested at June 30, 2018 661 $ 6.74 |
Summary of Nonvested Restricted Shares and Restricted Stock Units | The following table summarizes nonvested restricted shares/RSUs activity as of June 30, 2018 and for the six 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 488 $ 28.15 Vested (323 ) $ 25.78 Forfeited or expired (59 ) $ 27.00 Nonvested at June 30, 2018 1,215 $ 29.15 |
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): Six Months Ended June 30, 2018 2017 Number of restricted shares/RSUs granted 488 480 Weighted average grant-date fair value per restricted share/RSU $ 28.15 $ 29.42 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 June 30, 2018 and for the six 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 34 $ 27.68 Vested (15 ) $ 29.87 Forfeited or expired - $ - Nonvested at June 30, 2018 27 $ 27.73 |
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): Six Months Ended June 30, 2018 2017 Number of share awards granted 34 24 Weighted average grant-date fair value per share award $ 27.68 $ 32.93 Fair value of share awards vested $ 450 $ 430 |
Summary of Nonvested Common Stock | The following table summarizes nonvested common stock activity as of June 30, 2018 and for the six months then ended: Nonvested Common Stock Shares (000s) Weighted Average Grant-Date Fair Value Nonvested at January 1, 2018 3 $ 29.56 Granted 10 $ 28.86 Vested (7 ) $ 28.89 Forfeited or expired - $ - Nonvested at June 30, 2018 6 $ 29.19 |
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): Six Months Ended June 30, 2018 2017 Number of shares of common stock granted 10 10 Weighted average grant-date fair value per common stock $ 28.86 $ 30.66 Fair value of common stock vested $ 213 $ 240 Cash used to settle the obligation $ 644 $ 422 |
Segments and Geographic Infor42
Segments and Geographic Information (Tables) | 6 Months Ended |
Jun. 30, 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 June 30, 2018: Revenues $ 327,041 $ 69,720 $ 24 $ 396,785 Percentage of revenues 82.4 % 17.6 % 0.0 % 100.0 % Depreciation, net $ 12,335 $ 1,476 $ 749 $ 14,560 Amortization of intangibles $ 3,415 $ 214 $ - $ 3,629 Income (loss) from operations $ 19,824 $ 2,220 $ (15,584 ) $ 6,460 Total other income (expense), net (1,511 ) (1,511 ) Income taxes 2,229 2,229 Net income $ 7,178 Three Months Ended June 30, 2017: Revenues $ 314,871 $ 60,540 $ 27 $ 375,438 Percentage of revenues 83.9 % 16.1 % 0.0 % 100.0 % Depreciation, net $ 11,842 $ 1,254 $ 724 $ 13,820 Amortization of intangibles $ 4,989 $ 261 $ - $ 5,250 Income (loss) from operations $ 26,127 $ 2,163 $ (16,962) $ 11,328 Total other income (expense), net (928 ) (928 ) Income taxes (1,555 ) (1,555 ) Net income $ 8,845 Six Months Ended June 30, 2018: Revenues $ 667,762 $ 143,347 $ 47 $ 811,156 Percentage of revenues 82.3 % 17.7 % 0.0 % 100.0 % Depreciation, net $ 25,018 $ 2,887 $ 1,491 $ 29,396 Amortization of intangibles $ 7,407 $ 435 $ - $ 7,842 Income (loss) from operations $ 45,688 $ 6,859 $ (31,803) $ 20,744 Total other income (expense), net (2,391 ) (2,391 ) Income taxes (227 ) (227 ) Net income $ 18,126 Six Months Ended June 30, 2017: Revenues $ 635,802 $ 123,607 $ 43 $ 759,452 Percentage of revenues 83.7 % 16.3 % 0.0 % 100.0 % Depreciation, net $ 23,310 $ 2,440 $ 1,418 $ 27,168 Amortization of intangibles $ 9,967 $ 514 $ — $ 10,481 Income (loss) from operations $ 64,099 $ 7,743 $ (34,461) $ 37,381 Total other income (expense), net (1,659 ) (1,659 ) Income taxes (8,165 ) (8,165 ) Net income $ 27,557 (1) |
Operations by Geographic Location | The following table represents a disaggregation of revenue from contracts with customers by geographic location for the three and six months ended June 30, 2018 and 2017, by the reportable segment for each category (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Americas: United States $ 165,648 $ 151,654 $ 337,094 $ 305,298 The Philippines 56,571 56,779 116,657 115,319 Costa Rica 30,973 32,924 63,048 66,249 Canada 24,828 27,020 52,017 56,742 El Salvador 20,584 18,369 40,595 36,714 People’s Republic of China 8,149 9,282 17,497 18,542 Australia 7,700 6,440 15,402 13,090 Mexico 5,632 5,832 11,950 11,441 Other 6,956 6,571 13,502 12,407 Total Americas 327,041 314,871 667,762 635,802 EMEA: Germany 22,404 18,457 46,579 38,894 Sweden 13,674 14,043 27,804 28,344 United Kingdom 11,960 9,407 25,307 19,140 Romania 8,191 6,685 16,327 13,078 Other 13,491 11,948 27,330 24,151 Total EMEA 69,720 60,540 143,347 123,607 Total Other 24 27 47 43 $ 396,785 $ 375,438 $ 811,156 $ 759,452 |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense), Net | Other income (expense), net consists of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Foreign currency transaction gains (losses) $ 641 $ (535 ) $ 2,089 $ 644 Gains (losses) on derivative instruments not designated as hedges (345 ) 1,097 (1,427 ) 397 Other miscellaneous income (expense) (833 ) 231 (1,044 ) 565 $ (537 ) $ 793 $ (382 ) $ 1,606 |
Overview and Basis of Present44
Overview and Basis of Presentation - Additional Information (Detail) $ in Millions | Jul. 09, 2018USD ($) | Jul. 09, 2018AUD ($) | Dec. 20, 2017 | May 31, 2017USD ($) | Apr. 24, 2017 | Jul. 31, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($)Segment | Jun. 30, 2017USD ($) | 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% | 35.00% | 21.00% | 35.00% | ||||||||||
Increase in cash, cash equivalents and restricted cash | $ 163,443,000 | $ 302,432,000 | $ 163,443,000 | $ 302,432,000 | $ 344,805,000 | $ 267,594,000 | ||||||||
XSell Technologies Inc [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Equity method investment, ownership percentage | 32.80% | |||||||||||||
Equity method investment paid | $ 5,000,000 | |||||||||||||
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 | 9,600,000 | 9,600,000 | 9,800,000 | ||||||||||
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 | $ 5,000,000 | |||||||||||
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) | 0 | (300,000) | 0 | ||||||||||
Direct Salaries and Related Costs [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Total advertising costs | 12,000,000 | 8,600,000 | 22,000,000 | 18,400,000 | ||||||||||
General and Administrative [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Total advertising costs | $ 100,000 | 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 | 1,000,000 | $ 1,100,000 | $ 900,000 | ||||||||||
Maximum [Member] | General and Administrative [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Total advertising costs | $ 100,000 | $ 100,000 | ||||||||||||
US Federal Rate Prior To The 2017 Tax Reform Act [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% | 35.00% | ||||||||||
US 2017 Tax Reform Act [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Statutory federal income tax rate | 21.00% | 21.00% | ||||||||||||
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 | |||||||||||||
WhistleOut [Member] | Subsequent Event [Member] | ||||||||||||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||||||||||||
Effective date of acquisition | Jul. 9, 2018 | Jul. 9, 2018 | ||||||||||||
Aggregate purchase price | $ 22,400,000 | $ 30.2 |
Overview and Basis of Present45
Overview and Basis of Presentation - Summary of Cash and Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 |
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Cash and cash equivalents | $ 162,422 | $ 343,734 | $ 301,451 | $ 266,675 |
Cash and Cash Equivalents and Restricted Cash | 163,443 | 344,805 | 302,432 | 267,594 |
Other Current Assets [Member] | ||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Restricted cash included in "Other current assets" | 153 | 154 | 158 | 160 |
Deferred Charges and Other Assets [Member] | ||||
Restricted Cash and Cash Equivalents Items [Line Items] | ||||
Restricted cash included in "Deferred charges and other assets" | $ 868 | $ 917 | $ 823 | $ 759 |
Overview and Basis of Present46
Overview and Basis of Presentation - Schedule of Impact of Adopting ASU 2017-07 on Statement of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Direct salaries and related costs | $ 264,924 | $ 248,615 | $ 539,996 | $ 495,751 |
General and administrative | 102,037 | 92,236 | 204,477 | 184,280 |
Income from operations | 6,460 | 11,328 | 20,744 | 37,381 |
Other income (expense), net | $ (537) | 793 | $ (382) | 1,606 |
As Previously Reported [Member] | ||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||
Direct salaries and related costs | 248,643 | 495,808 | ||
General and administrative | 92,246 | 184,300 | ||
Income from operations | 11,290 | 37,304 | ||
Other income (expense), net | 831 | 1,683 | ||
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 | (28) | (57) | ||
General and administrative | (10) | (20) | ||
Income from operations | 38 | 77 | ||
Other income (expense), net | $ (38) | $ (77) |
Revenues - Additional Informati
Revenues - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 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 revenues over time using output methods such as a per minute, per hour, per call, per transaction or per time and materials basis. | ||||
Stated contract term | 30 days to six years | ||||
Non-cancelable contract term | Varying periods up to 180 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% | 100.00% | 100.00% | |
Deferred revenue recognized in the period | $ 300 | $ 4,200 | |||
Revenue remaining performance obligation expected timing of satisfaction explanation | The Company expects to recognize its deferred revenue as of June 30, 2018 over the next 180 days. | ||||
Refund liabilities timing of resolution explanation | Refund liabilities are generally resolved in 180 days, once it is determined whether the requisite service levels and client requirements were achieved to settle the contingency. | ||||
Accounting Standards Update 2014-09 [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Retained earnings | 3,019 | $ 3,019 | |||
Accounting Standards Update 2014-09 [Member] | Retained Earnings [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Retained earnings | $ 3,019 | $ 3,019 | $ 3,000 | ||
Other Revenues [Member] | |||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | |||||
Percentage of revenue | 0.60% | 0.50% | 0.60% | 0.60% |
Revenues - Summary of Impact of
Revenues - Summary of Impact of Adoption of Accounting Standards (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||
Receivables, net | $ 347,885 | $ 347,885 | $ 342,783 | $ 341,958 | ||
Deferred charges and other assets | 32,698 | 32,698 | 31,238 | 29,193 | ||
Income taxes payable | 843 | 843 | 3,303 | 2,606 | ||
Deferred revenue and customer liabilities | 32,503 | 32,503 | 33,669 | 34,717 | ||
Other long-term liabilities | 25,250 | 25,250 | 22,241 | 22,039 | ||
Retained earnings | 567,988 | 567,988 | 549,862 | $ 546,843 | ||
Revenues | 396,785 | $ 375,438 | 811,156 | $ 759,452 | ||
Income from operations | 6,460 | 11,328 | 20,744 | 37,381 | ||
Income before income taxes | 4,949 | 10,400 | 18,353 | 35,722 | ||
Income taxes | (2,229) | 1,555 | 227 | 8,165 | ||
Net income | $ 7,178 | $ 8,845 | $ 18,126 | $ 27,557 | ||
Net income per common share: | ||||||
Basic | $ 0.17 | $ 0.21 | $ 0.43 | $ 0.66 | ||
Diluted | $ 0.17 | $ 0.21 | $ 0.43 | $ 0.66 | ||
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 | $ 345,932 | $ 345,932 | ||||
Deferred charges and other assets | 28,280 | 28,280 | ||||
Income taxes payable | (733) | (733) | ||||
Deferred revenue and customer liabilities | 34,585 | 34,585 | ||||
Other long-term liabilities | 25,524 | 25,524 | ||||
Retained earnings | 560,837 | 560,837 | ||||
Revenues | 394,483 | 805,759 | ||||
Income from operations | 4,158 | 15,347 | ||||
Income before income taxes | 2,647 | 12,956 | ||||
Income taxes | (2,804) | (1,038) | ||||
Net income | $ 5,451 | $ 13,994 | ||||
Net income per common share: | ||||||
Basic | $ 0.13 | $ 0.33 | ||||
Diluted | $ 0.13 | $ 0.33 | ||||
Effect of Adoption Increase (Decrease) [Member] | Accounting Standards Update 2014-09 [Member] | ||||||
Revenue, Initial Application Period Cumulative Effect Transition [Line Items] | ||||||
Receivables, net | $ 1,953 | $ 1,953 | 825 | |||
Deferred charges and other assets | 4,418 | 4,418 | 2,045 | |||
Income taxes payable | 1,576 | 1,576 | 697 | |||
Deferred revenue and customer liabilities | (2,082) | (2,082) | (1,048) | |||
Other long-term liabilities | (274) | (274) | 202 | |||
Retained earnings | 7,151 | 7,151 | $ 3,019 | |||
Revenues | 2,302 | 5,397 | ||||
Income from operations | 2,302 | 5,397 | ||||
Income before income taxes | 2,302 | 5,397 | ||||
Income taxes | 575 | 1,265 | ||||
Net income | $ 1,727 | $ 4,132 | ||||
Net income per common share: | ||||||
Basic | $ 0.04 | $ 0.10 | ||||
Diluted | $ 0.04 | $ 0.10 |
Revenues - Revenues from Contra
Revenues - Revenues from Contracts with Customers Disaggregated by Service Type (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 396,785 | $ 375,438 | $ 811,156 | $ 759,452 |
Americas [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 327,041 | 314,871 | 667,762 | 635,802 |
Americas [Member] | Customer Engagement Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 326,766 | 314,603 | 667,188 | 635,265 |
Americas [Member] | Other Revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 275 | 268 | 574 | 537 |
EMEA [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 69,720 | 60,540 | 143,347 | 123,607 |
EMEA [Member] | Customer Engagement Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 67,772 | 58,836 | 139,443 | 119,905 |
EMEA [Member] | Other Revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 1,948 | 1,704 | 3,904 | 3,702 |
Other Segment [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 24 | 27 | 47 | 43 |
Other Segment [Member] | Other Revenues [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 24 | $ 27 | $ 47 | $ 43 |
Revenues - Summary of Trade Acc
Revenues - Summary of Trade Accounts Receivable, Net (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade accounts receivable, net | $ 339,432 | $ 334,092 |
Receivables Net, Current [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade accounts receivable, net, current | 334,818 | 332,014 |
Deferred Charges and Other Assets [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Trade accounts receivable, net, noncurrent | $ 4,614 | $ 2,078 |
Revenues - Summary of Trade A51
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 |
Revenues - Components of Deferr
Revenues - Components of Deferred Revenue and Customer Liabilities (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 01, 2018 | Dec. 31, 2017 |
Schedule of Deferred Revenue and Customer Liabilities [Line Items] | |||
Deferred revenue and customer liabilities | $ 32,503 | $ 33,669 | $ 34,717 |
Deferred Revenue and Customer Liabilities [Member] | |||
Schedule of Deferred Revenue and Customer Liabilities [Line Items] | |||
Deferred revenue | 4,900 | 4,598 | |
Customer arrangements with termination rights | 18,498 | 21,755 | |
Estimated refund liabilities | $ 9,105 | $ 7,316 |
Revenues - Components of Defe53
Revenues - Components of Deferred Revenue and Customer Liabilities (Parenthetical) (Detail) $ in Millions | Jan. 01, 2018USD ($) |
Accounting Standards Update 2014-09 [Member] | Effect of Adoption Increase (Decrease) [Member] | |
Deferred Revenue and Customer Liabilities [Abstract] | |
Estimated refund liabilities | $ 1 |
Costs Associated with Exit or54
Costs Associated with Exit or Disposal Activities - Cumulative Costs Expected and Incurred as a Result of Exit Plan (Detail) - 2018 Exit Plan [Member] - Americas [Member] $ in Thousands | Jun. 30, 2018USD ($) |
Restructuring Cost and Reserve [Line Items] | |
Costs Expected To Be Incurred | $ 16,056 |
Cumulative Costs Incurred To Date | 8,824 |
Expected Remaining Costs | 7,232 |
Non-Cash Impairment Charges [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs Expected To Be Incurred | 5,175 |
Cumulative Costs Incurred To Date | 5,175 |
General and Administrative [Member] | Lease Obligations and Facility Exit Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs Expected To Be Incurred | 6,692 |
Cumulative Costs Incurred To Date | 3,028 |
Expected Remaining Costs | 3,664 |
General and Administrative [Member] | Severance and Related Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs Expected To Be Incurred | 488 |
Cumulative Costs Incurred To Date | 219 |
Expected Remaining Costs | 269 |
Direct Salaries and Related Costs [Member] | Severance and Related Costs [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Costs Expected To Be Incurred | 3,701 |
Cumulative Costs Incurred To Date | 402 |
Expected Remaining Costs | $ 3,299 |
Costs Associated with Exit or55
Costs Associated with Exit or Disposal Activities - Summary of Accrued Liability and Related Charges (Detail) - Americas [Member] - 2018 Exit Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2018 | Jun. 30, 2018 | |
Restructuring Reserve [Roll Forward] | ||
Balance at the beginning of the period | $ 0 | $ 0 |
Cash payments | (560) | (560) |
Balance sheet reclassifications | 216 | 216 |
Balance at the end of the period | 3,305 | 3,305 |
Lease Obligations and Facility Exit Costs [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Balance at the beginning of the period | 0 | 0 |
Cash payments | (429) | (429) |
Balance sheet reclassifications | 216 | 216 |
Balance at the end of the period | 2,815 | 2,815 |
Severance and Related Costs [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Balance at the beginning of the period | 0 | 0 |
Cash payments | (131) | (131) |
Balance at the end of the period | 490 | 490 |
Direct Salaries and Related Costs [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | 402 | 402 |
Direct Salaries and Related Costs [Member] | Severance and Related Costs [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | 402 | 402 |
General and Administrative [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | 3,247 | 3,247 |
General and Administrative [Member] | Lease Obligations and Facility Exit Costs [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | 3,028 | 3,028 |
General and Administrative [Member] | Severance and Related Costs [Member] | ||
Restructuring Reserve [Roll Forward] | ||
Restructuring charges | $ 219 | $ 219 |
Costs Associated with Exit or56
Costs Associated with Exit or Disposal Activities - Summary of Company's Short-term and Long-term Accrued Liability with Exit Plan (Detail) - 2018 Exit Plan [Member] - Americas [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 |
Restructuring Cost and Reserve [Line Items] | |||
Ending accrual at June 30, 2018 | $ 3,305 | $ 0 | $ 0 |
Other Accrued Expenses and Current Liabilities [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Short-term accrued restructuring liability | 2,726 | ||
Accrued Employee Compensation and Benefits [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Short-term accrued restructuring liability | 490 | ||
Other Long-Term Liabilities [Member] | |||
Restructuring Cost and Reserve [Line Items] | |||
Long-term accrued restructuring liability | $ 89 |
Cost Associated with Exit or Di
Cost Associated with Exit or Disposal Activities - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2018 | |
Americas [Member] | 2018 Exit Plan [Member] | |
Restructuring Cost and Reserve [Line Items] | |
Lease termination date | Sep. 30, 2019 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
May 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Payments of contingent consideration related to acquisitions | $ 4,528 | ||||
Impairment charge | $ 5,175 | $ 4,189 | $ 8,701 | 4,391 | |
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 | $ 5,200 | 4,200 | $ 8,700 | 4,200 | |
Qelp [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Payments of contingent consideration related to acquisitions | $ 4,400 | 4,400 | |||
Qelp [Member] | Measurement Input, Discount Rate [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value discount rate | 14.00% | 14.00% | |||
Clearlink [Member] | Measurement Input, Discount Rate [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value discount rate | 10.00% | 10.00% | |||
Clearlink [Member] | General and Administrative [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value gain (loss) adjustments on contingent consideration | 268 | 701 | |||
Clearlink [Member] | General and Administrative [Member] | (Gain) Loss Due to Changes in the Probability of Achievement of Revenue Targets [Member] | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
Fair value gain (loss) adjustments on contingent consideration | $ 300 | $ 700 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Assets: | ||
Derivative Assets | $ 1,354 | $ 3,900 |
Total assets | 13,218 | 15,527 |
Liabilities: | ||
Derivative Liabilities | 2,501 | 835 |
Total liabilities | 2,501 | 835 |
Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||
Liabilities: | ||
Derivative Liabilities | 1,903 | 256 |
Foreign Currency Forward and Option Contracts [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||
Assets: | ||
Derivative Assets | 1,354 | 3,848 |
Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||
Assets: | ||
Derivative Assets | 52 | |
Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | ||
Liabilities: | ||
Derivative Liabilities | 598 | 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 | 8,557 | 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 | 3,307 | 3,533 |
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | ||
Assets: | ||
Total assets | 11,864 | 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 | 8,557 | 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 | 3,307 | 3,533 |
Significant Other Observable Inputs Level 2 [Member] | ||
Assets: | ||
Total assets | 1,354 | 3,848 |
Liabilities: | ||
Total liabilities | 1,903 | 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 | 1,903 | 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 | 1,354 | 3,848 |
Significant Unobservable Inputs Level 3 [Member] | ||
Assets: | ||
Total assets | 52 | |
Liabilities: | ||
Total liabilities | 598 | 579 |
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | ||
Assets: | ||
Derivative Assets | 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 | $ 598 | $ 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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward] | ||||
Balance at the beginning of the period | $ (409) | $ (375) | $ (527) | $ (555) |
Settlements | 38 | 25 | 80 | 70 |
Effect of foreign currency | 25 | 3 | 14 | (1) |
Balance at the end of the period | (598) | (171) | (598) | (171) |
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" | (252) | 176 | (165) | 315 |
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 | $ (253) | $ 48 | $ (171) | $ 183 |
Fair Value - Rollforward of Fai
Fair Value - Rollforward of Fair Value of Contingent Consideration (Liability) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Contingent consideration (liability), Beginning Balance | $ (5,633) | $ (6,100) |
Imputed interest | (34) | (68) |
Settlements | 4,402 | 4,528 |
Effect of foreign currency | (130) | (188) |
Contingent Consideration (liability), Ending Balance | (1,127) | (1,127) |
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 | 268 | 268 |
Clearlink [Member] | General and Administrative [Member] | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ||
Fair value gain (loss) adjustments | $ 268 | $ 701 |
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Fair Value Of Assets And Liabilities Measured On Non Recurring Basis [Line Items] | ||||
Impairment of long-lived assets | $ (5,175) | $ (4,189) | $ (8,701) | $ (4,391) |
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 | $ (5,175) | $ (4,189) | $ (8,701) | $ (4,391) |
Goodwill and Intangible Asset63
Goodwill and Intangible Assets - Company's Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 252,876 | $ 246,428 |
Accumulated Amortization | (113,047) | (106,151) |
Net Intangibles | $ 139,829 | $ 140,277 |
Weighted Average Amortization Period (years) | 5 years | 6 years |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 169,749 | $ 170,853 |
Accumulated Amortization | (100,859) | (95,175) |
Net Intangibles | $ 68,890 | $ 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 | $ 14,135 | $ 14,138 |
Accumulated Amortization | (9,651) | (8,797) |
Net Intangibles | $ 4,484 | $ 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 | (1,356) | (1,052) |
Net Intangibles | $ 464 | $ 768 |
Weighted Average Amortization Period (years) | 3 years | 3 years |
Content Library [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 526 | $ 542 |
Accumulated Amortization | $ (526) | $ (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 | (655) | (585) |
Net Intangibles | $ 385 | $ 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 | $ 65,606 | $ 58,035 |
Net Intangibles | $ 65,606 | $ 58,035 |
Goodwill and Intangible Asset64
Goodwill and Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands | Jun. 30, 2018USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2018 (remaining six months) | $ 7,230 |
2,019 | 14,022 |
2,020 | 11,348 |
2,021 | 6,799 |
2,022 | 5,714 |
2,023 | 4,882 |
2024 and thereafter | $ 24,228 |
Goodwill and Intangible Asset65
Goodwill and Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | $ 269,265 | $ 265,404 |
Acquisition | 390 | |
Effect of Foreign Currency | (3,274) | 3,471 |
Ending Balance, Goodwill Net | 265,991 | 269,265 |
Americas [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 258,496 | 255,842 |
Acquisition | 390 | |
Effect of Foreign Currency | (2,872) | 2,264 |
Ending Balance, Goodwill Net | 255,624 | 258,496 |
EMEA [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 10,769 | 9,562 |
Effect of Foreign Currency | (402) | 1,207 |
Ending Balance, Goodwill Net | $ 10,367 | $ 10,769 |
Goodwill and Intangible Asset66
Goodwill and Intangible Assets - Additional Information (Detail) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 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 | $ 265,991,000 | $ 269,265,000 | $ 265,404,000 |
Qelp [Member] | |||
Goodwill [Line Items] | |||
Goodwill Impairment Loss | 0 | ||
Goodwill | 10,400,000 | ||
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 | 6 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Deferred gains (losses) in AOCI | $ (999) | $ 2,550 |
Tax on deferred gains (losses) in AOCI | 96 | (79) |
Deferred gains (losses) in AOCI, net of taxes | (903) | $ 2,471 |
Deferred gains (losses) expected to be reclassified to "Revenues" from AOCI during the next twelve months | $ (882) |
Financial Derivatives - Additio
Financial Derivatives - Additional Information (Detail) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 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 | $ 1,400,000 | $ 3,800,000 |
Total net settlement amount asset positions | 900,000 | 3,600,000 |
Total net settlement amount liability positions | $ 1,400,000 | $ 0 |
Financial Derivatives - Outstan
Financial Derivatives - Outstanding Foreign Currency Forward Contracts, Options and Embedded Derivatives (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 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 | $ 61,750 | $ 78,000 |
Settle Through Date | Sep. 30, 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 | $ 53,400 | $ 3,000 |
Settle Through Date | Sep. 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 | $ 82,500 | $ 70,000 |
Settle Through Date | Aug. 31, 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 | $ 1,726 | $ 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 | $ 6,894 | $ 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 | $ 6,153 | $ 9,253 |
Settle Through Date | Sep. 30, 2018 | Mar. 31, 2018 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 12,676 | $ 13,519 |
Settle Through Date | Apr. 30, 2030 | Apr. 30, 2030 |
Financial Derivatives - Derivat
Financial Derivatives - Derivative Instruments Fair Value (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 1,354 | $ 3,900 |
Derivative Liabilities | 2,501 | 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 | 179 | |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 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 | 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 | 108 | 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 | 490 | 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 Assets | 1,354 | 3,604 |
Derivative Liabilities | 1,724 | 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 | 1,343 | 3,604 |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Deferred Charges and Other Assets [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 11 | |
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 | 1,595 | 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 | $ 129 | $ 81 |
Financial Derivatives - Effect
Financial Derivatives - Effect of Company's Derivative Instruments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $ (305) | $ (6,006) | $ (3,001) | $ (6,839) |
Gain (Loss) Reclassified From AOCI Into "Revenues" (Effective Portion) | 191 | (820) | 428 | (1,580) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 2 | 8 | ||
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | (345) | 1,097 | (1,427) | 397 |
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) | (305) | (1,232) | (3,001) | (1,466) |
Gain (Loss) Reclassified From AOCI Into "Revenues" (Effective Portion) | 191 | (820) | 428 | (1,580) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 2 | 8 | ||
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) | (4,774) | (5,373) | ||
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 | (345) | 1,097 | (1,427) | 397 |
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 | (93) | 921 | (1,262) | 82 |
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 | $ (252) | $ 176 | $ (165) | $ 315 |
Investments Held in Rabbi Tru72
Investments Held in Rabbi Trust - Investments Held in Rabbi Trust, Classified as Trading (Detail) - Mutual Funds [Member] - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Cost | $ 8,252 | $ 8,096 |
Other Current Assets [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Fair Value | $ 11,864 | $ 11,627 |
Investments Held in Rabbi Tru73
Investments Held in Rabbi Trust - Additional Information (Detail) | Jun. 30, 2018 |
Equity-Based Securities [Member] | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |
Mutual funds held in rabbi trust | 72.00% |
Debt-Based Securities [Member] | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | |
Mutual funds held in rabbi trust | 28.00% |
Investments Held in Rabbi Tru74
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||||
Net realized gains (losses) from sale of trading securities | $ 27 | $ 149 | $ 32 | $ 149 |
Dividend and interest income | 43 | 25 | 68 | 39 |
Net unrealized holding gains (losses) | 72 | 149 | 17 | 542 |
Net investment income (losses) | $ 142 | $ 323 | $ 117 | $ 730 |
Deferred Grants - Schedule of D
Deferred Grants - Schedule of Deferred Grants, Net of Accumulated Amortization (Detail) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Deferred Revenue Arrangement [Line Items] | ||
Lease grants | $ 441 | $ 507 |
Employment grants | 68 | 61 |
Total deferred grants | 3,096 | 3,411 |
Total long-term deferred grants | 2,913 | 3,233 |
Long Term Deferred Grants Net [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Property grants | 2,587 | 2,843 |
Total long-term deferred grants | 2,913 | 3,233 |
Other Accrued Expenses and Current Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Less: Lease grants - short-term | (115) | (117) |
Less: Employment grants - short-term | $ (68) | $ (61) |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||||
Jan. 31, 2018 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | May 31, 2015 | May 12, 2015 | |
Line of Credit Facility [Line Items] | |||||||
Outstanding borrowings | $ 90,000,000 | $ 90,000,000 | $ 275,000,000 | ||||
Long-term debt repaid | 190,000,000 | ||||||
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 | ||||||
Outstanding borrowings | $ 90,000,000 | $ 90,000,000 | $ 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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Line of Credit Facility [Abstract] | ||||
Average daily utilization of borrowings | $ 100,110 | $ 267,000 | $ 110,691 | $ 267,000 |
Interest expense | $ 915 | $ 1,600 | $ 1,916 | $ 3,043 |
Weighted average interest rate | 3.70% | 2.40% | 3.50% | 2.30% |
Accumulated Other Comprehensi78
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 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 | (16,515) | 30,522 |
Tax (provision) benefit | 201 | 3,060 |
Reclassification of (gain) loss to net income | (515) | 2,341 |
Ending balance, accumulated other comprehensive income (loss) | (47,933) | (31,104) |
Foreign Currency Translation Adjustments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | (36,315) | (72,393) |
Pre-tax amount | (13,522) | 36,101 |
Foreign currency translation | 216 | (23) |
Ending balance, accumulated other comprehensive income (loss) | (49,621) | (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 | (2,993) | 2,276 |
Tax (provision) benefit | 194 | (54) |
Reclassification of (gain) loss to net income | (460) | 2,444 |
Foreign currency translation | (115) | 30 |
Ending balance, accumulated other comprehensive income (loss) | (903) | 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 | 7 | (18) |
Reclassification of (gain) loss to net income | (35) | (53) |
Foreign currency translation | (101) | (7) |
Ending balance, accumulated other comprehensive income (loss) | 1,445 | 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 | (20) | (50) |
Ending balance, accumulated other comprehensive income (loss) | $ 100 | $ 120 |
Accumulated Other Comprehensi79
Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||||
Pre-tax amount | $ 4,949 | $ 10,400 | $ 18,353 | $ 35,722 |
Tax (provision) benefit | (2,229) | 1,555 | 227 | 8,165 |
Reclassification of gain (loss) to net income | 7,178 | 8,845 | 18,126 | 27,557 |
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 | 237 | (779) | 515 | (1,476) |
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 | 17 | 17 | 24 | 58 |
Reclassification of gain (loss) to net income | 210 | (803) | 460 | (1,522) |
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 | 6 | ||
Reclassification of gain (loss) to net income | 17 | 11 | 35 | 21 |
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 | 193 | (820) | 436 | (1,580) |
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 | 14 | 11 | 29 | 21 |
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 | $ 13 | $ 20 | $ 25 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | Dec. 20, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Income Tax [Line Items] | |||||||
Effective rate of tax | (45.00%) | 15.00% | 1.20% | 22.90% | |||
Statutory federal income tax rate | 21.00% | 35.00% | 21.00% | 35.00% | |||
Increase in benefit associated with settlement of tax audits and ancillary issues | $ (2,000,000) | $ (2,000,000) | |||||
Decrease in amount of excess tax benefits from stock-based compensation | 600,000 | ||||||
Undistributed earnings of foreign subsidiaries | $ 531,800,000 | $ 531,800,000 | |||||
Canada Revenue Agency [Member] | |||||||
Income Tax [Line Items] | |||||||
Income tax benefit recognized on settlement of Canadian audit | $ (2,700,000) | $ (1,200,000) | $ (2,700,000) | $ (1,200,000) | |||
US Federal Rate Prior To The 2017 Tax Reform Act [Member] | |||||||
Income Tax [Line Items] | |||||||
Statutory federal income tax rate | 35.00% | 35.00% | 35.00% | 35.00% | |||
US 2017 Tax Reform Act [Member] | |||||||
Income Tax [Line Items] | |||||||
Statutory federal income tax rate | 21.00% | 21.00% | |||||
Change in tax rate, income tax expense (benefit) | $ 500,000 | $ 1,100,000 | |||||
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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Basic: | ||||
Weighted average common shares outstanding | 42,125 | 41,854 | 42,035 | 41,756 |
Diluted: | ||||
Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust | 35 | 80 | 162 | 163 |
Total weighted average diluted shares outstanding | 42,160 | 41,934 | 42,197 | 41,919 |
Anti-dilutive shares excluded from the diluted earnings per share calculation | 31 | 46 | 6 | 16 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2016 | Mar. 16, 2016 | Aug. 18, 2011 | |
Equity, Class of Treasury Stock [Line Items] | |||||||
Total Number of Shares Repurchased | 0 | 0 | 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 Continge83
Commitments and Loss Contingency - Schedule of Future Minimum Rental Payments under Operating Leases (Detail) $ in Thousands | Jun. 30, 2018USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2018 (remaining six months) | $ 630 |
2,019 | 8,118 |
2,020 | 8,520 |
2,021 | 8,643 |
2,022 | 7,959 |
2,023 | 3,343 |
2024 and thereafter | 8,211 |
Total minimum payments required | $ 45,424 |
Commitments and Loss Continge84
Commitments and Loss Contingency - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2018USD ($) | |
Minimum [Member] | |
Long-term Purchase Commitment [Line Items] | |
Term of agreements with third party vendors | 1 year |
Loss Contingency, net of federal benefit | $ 0 |
Maximum [Member] | |
Long-term Purchase Commitment [Line Items] | |
Term of agreements with third party vendors | 5 years |
Loss Contingency, net of federal benefit | $ 1,000,000 |
Commitments and Loss Continge85
Commitments and Loss Contingency - Schedule of Future Minimum Purchases Remaining under Agreements (Detail) $ in Thousands | Jun. 30, 2018USD ($) |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2018 (remaining six months) | $ 10,237 |
2,019 | 6,346 |
2,020 | 1,699 |
2,021 | 193 |
2,022 | 0 |
2,023 | 0 |
2024 and thereafter | 0 |
Total minimum payments required | $ 18,475 |
Defined Benefit Pension Plan 86
Defined Benefit Pension Plan and Postretirement Benefits - Net Periodic Benefit Cost for Pension Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract] | ||||
Service cost | $ 109 | $ 128 | $ 223 | $ 253 |
Interest cost | 48 | 49 | 98 | 98 |
Recognized actuarial (gains) | (14) | (11) | (29) | (21) |
Net periodic benefit cost | $ 143 | $ 166 | $ 292 | $ 330 |
Defined Benefit Pension Plan 87
Defined Benefit Pension Plan and Postretirement Benefits - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 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 88
Defined Benefit Pension Plan and Postretirement Benefits - Company's Contributions to Employee Retirement Savings Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Retirement Benefits [Abstract] | ||||
401(k) plan contributions | $ 344 | $ 309 | $ 803 | $ 620 |
Defined Benefit Pension Plan 89
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 | Jun. 30, 2018 | Dec. 31, 2017 |
Defined Benefit Plan Disclosure [Line Items] | ||
Postretirement benefit obligation | $ 12 | $ 15 |
Unrealized gains (losses) in AOCI | $ 100 | $ 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 | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
General and Administrative [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock-based compensation (expense) | $ (1,673) | $ (2,261) | $ (3,750) | $ (4,732) |
Income Taxes [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Income tax benefit | $ 402 | $ 871 | $ 900 | $ 1,822 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | Dec. 06, 2016 | Dec. 10, 2014 | Jun. 30, 2018 | Dec. 31, 2016 | Jun. 30, 2016 | May 18, 2012 | May 16, 2012 | 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 6 months | ||||||||
Total unrecognized compensation cost | $ 4,000,000 | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based compensation vesting period | One-third on each of the first three anniversaries of the date of grant | ||||||||
Weighted average period | 1 year 9 months 18 days | ||||||||
Total unrecognized compensation cost | $ 32,300,000 | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Range of vesting possibilities | 0.00% | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Range of vesting possibilities | 100.00% | ||||||||
Non-Employee Director Fee Plan [Member] | Common Stock Awards [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Plan expiration date | May 31, 2014 | ||||||||
Total unrecognized compensation cost | $ 700,000 | ||||||||
Value of initial granted shares of common stock to new non employee director | $ 60,000 | ||||||||
Vesting period of initial granted shares of common stock to new non employee director | Twelve equal quarterly installments, one-twelfth on the date of grant and an additional one-twelfth on each successive third monthly anniversary of the date of grant. | ||||||||
Value of Annual Retainer to Non-Employee Director | $ 125,000 | $ 95,000 | |||||||
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 | 1 year | 2 years | |||||||
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 | ||||||||
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 | $ 11,800,000 | 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 | 2,200,000 | $ 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 Assumptions Used to Estimate Fair Value (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Expected volatility | 21.40% | 19.30% |
Weighted-average volatility | 21.40% | 19.30% |
Expected dividend rate | 0.00% | 0.00% |
Expected term (in years) | 5 years | 5 years |
Risk-free rate | 2.50% | 1.90% |
Stock-Based Compensation - Su93
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Shares, beginning balance | 734 | |
Granted, Shares | 333 | 396 |
Exercised, Shares | (43) | |
Forfeited or expired, Shares | 0 | |
Outstanding Shares, ending balance | 1,024 | |
Vested or expected to vest, Shares | 1,024 | |
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 7 months 6 days | |
Vested or expected to vest, Weighted Average Remaining Contractual Term | 8 years 7 months 6 days | |
Exercisable, Weighted Average Remaining Contractual Term | 7 years 7 months 6 days | |
Outstanding, Aggregate Intrinsic Value | $ 790 | |
Vested or expected to vest, Aggregate Intrinsic Value | 790 | |
Exercisable, Aggregate Intrinsic Value | $ 580 |
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 333 | 396 |
Weighted average grant-date fair value per SAR | $ 6.84 | $ 6.24 |
Intrinsic value of SARs exercised | $ 305 | $ 1,678 |
Fair value of vested | $ 1,950 | $ 1,846 |
Stock-Based Compensation - Su95
Stock-Based Compensation - Summary of Nonvested Stock Appreciation Rights (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 600 | |
Granted, Shares | 333 | 396 |
Vested, Shares | (272) | |
Forfeited or expired, Shares | 0 | |
Nonvested Shares, ending balance | 661 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 6.88 | |
Granted, Weighted Average Grant-Date Fair Value | 6.84 | $ 6.24 |
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 | $ 6.74 |
Stock-Based Compensation - Su96
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 1,109 | |
Granted, Shares | 488 | 480 |
Vested, Shares | (323) | |
Forfeited, Shares | (59) | |
Nonvested Shares, ending balance | 1,215 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 28.50 | |
Granted, Weighted Average Grant-Date Fair Value | 28.15 | $ 29.42 |
Vested, Weighted Average Grant-Date Fair Value | 25.78 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 27 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.15 |
Stock-Based Compensation - Su97
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 488 | 480 |
Weighted average grant-date fair value | $ 28.15 | $ 29.42 |
Fair value of vested | $ 8,342 | $ 6,868 |
Stock-Based Compensation - Su98
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 8 | |
Granted, Shares | 34 | 24 |
Vested, Shares | (15) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 27 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 32.21 | |
Granted, Weighted Average Grant-Date Fair Value | 27.68 | $ 32.93 |
Vested, Weighted Average Grant-Date Fair Value | 29.87 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 27.73 |
Stock-Based Compensation - Su99
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 34 | 24 |
Weighted average grant-date fair value | $ 27.68 | $ 32.93 |
Fair value of vested | $ 450 | $ 430 |
Stock-Based Compensation - S100
Stock-Based Compensation - Summary of Nonvested Common Stock (Detail) - Common Stock Awards [Member] - Deferred Compensation Plan [Member] - $ / shares shares in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 3 | |
Granted, Shares | 10 | 10 |
Vested, Shares | (7) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 6 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 29.56 | |
Granted, Weighted Average Grant-Date Fair Value | 28.86 | $ 30.66 |
Vested, Weighted Average Grant-Date Fair Value | 28.89 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.19 |
Stock-Based Compensation - S101
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 | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 10 | 10 |
Weighted average grant-date fair value | $ 28.86 | $ 30.66 |
Fair value of vested | $ 213 | $ 240 |
Cash used to settle the obligation | $ 644 | $ 422 |
Segments and Geographic Info102
Segments and Geographic Information - Additional Information (Detail) | 6 Months Ended |
Jun. 30, 2018SegmentRegion | |
Segment Reporting [Abstract] | |
Number of operating regions | Region | 2 |
Number of reportable segments | Segment | 2 |
Segments and Geographic Info103
Segments and Geographic Information - Company's Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||
Revenues | $ 396,785 | $ 375,438 | $ 811,156 | $ 759,452 |
Percentage of revenues | 100.00% | 100.00% | 100.00% | 100.00% |
Depreciation, net | $ 14,560 | $ 13,820 | $ 29,396 | $ 27,168 |
Amortization of intangibles | 3,629 | 5,250 | 7,842 | 10,481 |
Income (loss) from operations | 6,460 | 11,328 | 20,744 | 37,381 |
Total other income (expense), net | (1,511) | (928) | (2,391) | (1,659) |
Income taxes | 2,229 | (1,555) | (227) | (8,165) |
Net income | 7,178 | 8,845 | 18,126 | 27,557 |
Americas [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 327,041 | 314,871 | 667,762 | 635,802 |
Americas [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 327,041 | $ 314,871 | $ 667,762 | $ 635,802 |
Percentage of revenues | 82.40% | 83.90% | 82.30% | 83.70% |
Depreciation, net | $ 12,335 | $ 11,842 | $ 25,018 | $ 23,310 |
Amortization of intangibles | 3,415 | 4,989 | 7,407 | 9,967 |
Income (loss) from operations | 19,824 | 26,127 | 45,688 | 64,099 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | 69,720 | 60,540 | 143,347 | 123,607 |
EMEA [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 69,720 | $ 60,540 | $ 143,347 | $ 123,607 |
Percentage of revenues | 17.60% | 16.10% | 17.70% | 16.30% |
Depreciation, net | $ 1,476 | $ 1,254 | $ 2,887 | $ 2,440 |
Amortization of intangibles | 214 | 261 | 435 | 514 |
Income (loss) from operations | 2,220 | 2,163 | 6,859 | 7,743 |
Other Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenues | $ 24 | $ 27 | $ 47 | $ 43 |
Percentage of revenues | 0.00% | 0.00% | 0.00% | 0.00% |
Depreciation, net | $ 749 | $ 724 | $ 1,491 | $ 1,418 |
Income (loss) from operations | (15,584) | (16,962) | (31,803) | (34,461) |
Total other income (expense), net | (1,511) | (928) | (2,391) | (1,659) |
Income taxes | $ 2,229 | $ (1,555) | $ (227) | $ (8,165) |
Segments and Geographic Info104
Segments and Geographic Information - Operation by Geographic Location (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Segment Reporting Information [Line Items] | ||||
Revenue | $ 396,785 | $ 375,438 | $ 811,156 | $ 759,452 |
Americas [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 327,041 | 314,871 | 667,762 | 635,802 |
Americas [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 327,041 | 314,871 | 667,762 | 635,802 |
Americas [Member] | Operating Segments [Member] | United States [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 165,648 | 151,654 | 337,094 | 305,298 |
Americas [Member] | Operating Segments [Member] | The Philippines [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 56,571 | 56,779 | 116,657 | 115,319 |
Americas [Member] | Operating Segments [Member] | Costa Rica [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 30,973 | 32,924 | 63,048 | 66,249 |
Americas [Member] | Operating Segments [Member] | Canada [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 24,828 | 27,020 | 52,017 | 56,742 |
Americas [Member] | Operating Segments [Member] | El Salvador [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 20,584 | 18,369 | 40,595 | 36,714 |
Americas [Member] | Operating Segments [Member] | China [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 8,149 | 9,282 | 17,497 | 18,542 |
Americas [Member] | Operating Segments [Member] | Australia [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 7,700 | 6,440 | 15,402 | 13,090 |
Americas [Member] | Operating Segments [Member] | Mexico [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 5,632 | 5,832 | 11,950 | 11,441 |
Americas [Member] | Operating Segments [Member] | Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 6,956 | 6,571 | 13,502 | 12,407 |
EMEA [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 69,720 | 60,540 | 143,347 | 123,607 |
EMEA [Member] | Operating Segments [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 69,720 | 60,540 | 143,347 | 123,607 |
EMEA [Member] | Operating Segments [Member] | Other [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 13,491 | 11,948 | 27,330 | 24,151 |
EMEA [Member] | Operating Segments [Member] | Germany [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 22,404 | 18,457 | 46,579 | 38,894 |
EMEA [Member] | Operating Segments [Member] | Sweden [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 13,674 | 14,043 | 27,804 | 28,344 |
EMEA [Member] | Operating Segments [Member] | United Kingdom [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 11,960 | 9,407 | 25,307 | 19,140 |
EMEA [Member] | Operating Segments [Member] | Romania [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | 8,191 | 6,685 | 16,327 | 13,078 |
Other Segment [Member] | ||||
Segment Reporting Information [Line Items] | ||||
Revenue | $ 24 | $ 27 | $ 47 | $ 43 |
Other Income (Expense) - Other
Other Income (Expense) - Other Income (Expense), Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Other Nonoperating Income (Expense) [Abstract] | ||||
Foreign currency transaction gains (losses) | $ 641 | $ (535) | $ 2,089 | $ 644 |
Gains (losses) on derivative instruments not designated as hedges | (345) | 1,097 | (1,427) | 397 |
Other miscellaneous income (expense) | (833) | 231 | (1,044) | 565 |
Other income (expense) | $ (537) | $ 793 | $ (382) | $ 1,606 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2008 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Schedule of Other Related Party Transactions [Line Items] | |||||
Duration of lease | 20 years | ||||
Payment to landlord under the lease terms | $ 100,000 | $ 100,000 | $ 200,000 | $ 200,000 | |
Equity Method Investee [Member] | XSell Technologies Inc [Member] | |||||
Schedule of Other Related Party Transactions [Line Items] | |||||
Payment to equity method investee | $ 100,000 | $ 0 | $ 100,000 | $ 0 |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) $ in Thousands, $ in Millions | Jul. 09, 2018USD ($) | Jul. 09, 2018AUD ($) | Jun. 30, 2018USD ($) |
Subsequent Event [Line Items] | |||
Additional Borrowings to Fund Acquisition | $ 5,000 | ||
WhistleOut [Member] | Subsequent Event [Member] | |||
Subsequent Event [Line Items] | |||
Aggregate purchase price | $ 22,400 | $ 30.2 | |
Effective date of acquisition | Jul. 9, 2018 | Jul. 9, 2018 | |
Earnout period | 3 years | 3 years | |
Earnout | $ 14 | ||
WhistleOut [Member] | Subsequent Event [Member] | Current Credit Agreement [Member] | |||
Subsequent Event [Line Items] | |||
Additional Borrowings to Fund Acquisition | $ 22,000 |