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

Table of Contents

TTEC HOLDINGS, INC. AND SUBSIDIARIES

Notes to Consolidated Financial Statements

(Unaudited)

(12)ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

 

The following table presents changes in the accumulated balance for each component of other comprehensive income (loss), including current period other comprehensive income (loss) and reclassifications out of accumulated other comprehensive income (loss) (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Foreign

    

 

 

    

 

 

    

 

 

 

 

 

Currency

 

Derivative

 

 

 

 

 

 

 

 

 

Translation

 

Valuation, Net

 

Other, Net

 

 

 

 

 

 

Adjustment

 

of Tax

 

of Tax

 

Totals

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive income (loss) at December 31, 2016

 

$

(92,008)

 

$

(32,393)

 

$

(2,563)

 

$

(126,964)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before reclassifications

 

 

8,089

 

 

25,290

 

 

738

 

 

34,117

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

 —

 

 

(10,694)

 

 

(352)

 

 

(11,046)

 

Net current period other comprehensive income (loss)

 

 

8,089

 

 

14,596

 

 

386

 

 

23,071

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive income (loss) at September 30, 2017

 

$

(83,919)

 

$

(17,797)

 

$

(2,177)

 

$

(103,893)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive income (loss) at December 31, 2017

 

$

(84,100)

 

$

(15,746)

 

$

(2,458)

 

$

(102,304)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive income (loss) before reclassifications

 

 

(27,921)

 

 

14,374

 

 

620

 

 

(12,927)

 

Amounts reclassified from accumulated other comprehensive income (loss)

 

 

 —

 

 

(10,439)

 

 

(303)

 

 

(10,742)

 

Net current period other comprehensive income (loss)

 

 

(27,921)

 

 

3,935

 

 

317

 

 

(23,669)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated other comprehensive income (loss) at September 30, 2018

 

$

(112,021)

 

$

(11,811)

 

$

(2,141)

 

$

(125,973)

 

 

The following table presents the classification and amount of the reclassifications from Accumulated other comprehensive income (loss) to the statement of comprehensive income (loss) (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of

 

 

 

For the Three Months Ended September 30,

 

Comprehensive Income

 

 

    

2018

    

2017

    

(Loss) Classification

 

 

 

 

 

 

 

 

 

 

 

Derivative valuation

 

 

 

 

 

 

 

 

 

Loss on foreign currency forwards

 

$

(4,085)

 

$

(5,812)

 

Revenue

 

Loss on interest rate swaps

 

 

 —

 

 

 —

 

Interest expense

 

Tax effect

 

 

1,104

 

 

2,325

 

Provision for income taxes

 

 

 

$

(2,981)

 

$

(3,487)

 

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Actuarial loss on defined benefit plan

 

$

(112)

 

$

(130)

 

Cost of services

 

Tax effect

 

 

11

 

 

13

 

Provision for income taxes

 

 

 

$

(101)

 

$

(117)

 

Net income (loss)

 

 

31