10-Q
TTEC HOLDINGS, INC. filed this Form 10-Q on 11/07/2018
Entire Document
 

PART I. FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

 

TTEC HOLDINGS, INC. AND SUBSIDIARIES

Consolidated Balance Sheets

(Amounts in thousands, except share amounts)

(Unaudited)

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

December 31,

 

 

    

2018

    

2017

 

ASSETS

 

 

 

 

 

 

 

Current assets

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

93,879

 

$

74,437

 

Accounts receivable, net

 

 

301,770

 

 

385,751

 

Prepaids and other current assets

 

 

86,054

 

 

63,668

 

Income tax receivable

 

 

13,447

 

 

11,099

 

Assets held for sale

 

 

7,822

 

 

7,835

 

Total current assets

 

 

502,972

 

 

542,790

 

 

 

 

 

 

 

 

 

Long-term assets

 

 

 

 

 

 

 

Property, plant and equipment, net

 

 

161,244

 

 

163,297

 

Goodwill

 

 

201,826

 

 

206,694

 

Deferred tax assets, net

 

 

22,335

 

 

12,012

 

Other intangible assets, net

 

 

82,902

 

 

92,086

 

Other long-term assets

 

 

67,327

 

 

61,857

 

Total long-term assets

 

 

535,634

 

 

535,946

 

Total assets

 

$

1,038,606

 

$

1,078,736

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY

 

 

 

 

 

 

 

Current liabilities

 

 

 

 

 

 

 

Accounts payable

 

$

51,567

 

$

46,029

 

Accrued employee compensation and benefits

 

 

88,636

 

 

83,997

 

Other accrued expenses

 

 

30,324

 

 

18,993

 

Income tax payable

 

 

13,501

 

 

7,497

 

Deferred revenue

 

 

33,555

 

 

21,628

 

Other current liabilities

 

 

21,841

 

 

22,312

 

Liabilities held for sale

 

 

3,546

 

 

1,322

 

Total current liabilities

 

 

242,970

 

 

201,778

 

 

 

 

 

 

 

 

 

Long-term liabilities

 

 

 

 

 

 

 

Line of credit

 

 

272,500

 

 

344,000

 

Deferred tax liabilities, net

 

 

10,698

 

 

11,285

 

Non-current income tax payable

 

 

38,302

 

 

47,871

 

Deferred rent

 

 

14,942

 

 

15,714

 

Other long-term liabilities

 

 

130,336

 

 

95,243

 

Total long-term liabilities

 

 

466,778

 

 

514,113

 

Total liabilities

 

 

709,748

 

 

715,891

 

 

 

 

 

 

 

 

 

Commitments and contingencies (Note 10)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stockholders’ equity

 

 

 

 

 

 

 

Preferred stock; $0.01 par value; 10,000,000 shares authorized; zero shares outstanding as of             September 30, 2018 and December 31, 2017

 

 

 —

 

 

 —

 

Common stock; $0.01 par value; 150,000,000 shares authorized; 46,192,458 and 45,861,959 shares outstanding as of September 30, 2018 and December 31, 2017, respectively

 

 

462

 

 

459

 

Additional paid-in capital

 

 

351,141

 

 

351,725

 

Treasury stock at cost: 35,859,795 and 36,190,294 shares as of September 30, 2018 and December 31, 2017, respectively

 

 

(610,214)

 

 

(615,677)

 

Accumulated other comprehensive income (loss)

 

 

(125,973)

 

 

(102,304)

 

Retained earnings

 

 

705,218

 

 

721,664

 

Noncontrolling interest

 

 

8,224

 

 

6,978

 

Total stockholders’ equity

 

 

328,858

 

 

362,845

 

Total liabilities and stockholders’ equity

 

$

1,038,606

 

$

1,078,736

 

 

The accompanying notes are an integral part of these consolidated financial statements.

 

 

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