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)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Statement of

 

 

 

For the Nine Months Ended September 30,

 

Comprehensive Income

 

 

    

2018

    

2017

    

(Loss) Classification

 

 

 

 

 

 

 

 

 

 

 

Derivative valuation

 

 

 

 

 

 

 

 

 

Loss on foreign currency forwards

 

$

(14,300)

 

$

(17,709)

 

Revenue

 

Loss on interest rate swaps

 

 

 —

 

 

(115)

 

Interest expense

 

Tax effect

 

 

3,861

 

 

7,130

 

Provision for income taxes

 

 

 

$

(10,439)

 

$

(10,694)

 

Net income (loss)

 

 

 

 

 

 

 

 

 

 

 

Other

 

 

 

 

 

 

 

 

 

Actuarial loss on defined benefit plan

 

$

(335)

 

$

(391)

 

Cost of services

 

Tax effect

 

 

32

 

 

39

 

Provision for income taxes

 

 

 

$

(303)

 

$

(352)

 

Net income (loss)

 

 

 

 

 

 

(13)NET INCOME PER SHARE

 

The following table sets forth the computation of basic and diluted shares for the periods indicated (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended 

September 30,

 

Nine Months Ended 
September 30,

 

    

2018

    

2017

    

2018

    

2017

 

 

 

 

 

 

 

 

 

Shares used in basic earnings per share calculation

 

46,172

 

45,838

 

46,021

 

45,816

Effect of dilutive securities:

 

 

 

 

 

 

 

 

Stock options

 

 6

 

10

 

 8

 

 9

Restricted stock units

 

138

 

517

 

360

 

513

Performance-based restricted stock units

 

 —

 

 2

 

 1

 

10

Total effects of dilutive securities

 

144

 

529

 

369

 

532

Shares used in dilutive earnings per share calculation

 

46,316

 

46,367

 

46,390

 

46,348

 

For the three months ended September 30, 2018 and 2017, no options to purchase shares of common stock were outstanding but not included in the computation of diluted net income per share because the exercise price exceeded the value of the shares and the effect would have been anti-dilutive. For the nine months ended September 30, 2018 and 2017, no options and 30 thousand options to purchase shares of common stock, respectively, were outstanding, but not included in the computation of diluted net income per share because the exercise price exceeded the value of the shares and the effect would have been anti-dilutive. For the three months ended September 30, 2018 and 2017, restricted stock units (“RSUs”) of 475 thousand and two thousand, respectively, were outstanding, but not included in the computation of diluted net income per share because the effect would have been anti-dilutive. For the nine months ended September 30, 2018 and 2017, RSUs of 168 thousand and 16 thousand, respectively, were outstanding, but not included in the computation of diluted net income per share because the effect would have been anti-dilutive.

 

 

32