0001558370-22-002795 | 10-K | XBRL Viewer

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Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net income	$ 158,189	$ 129,331	$ 84,734
Adjustment to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	96,706	78,862	69,086
Amortization of contract acquisition costs	983	590	1,002
Amortization of debt issuance costs	1,016	732	1,083
Imputed interest expense and fair value adjustments to contingent consideration	1,168	4,484	2,339
Provision for credit losses	(350)	494	1,711
(Gain) loss on disposal of assets	1,127	521	189
Loss on dissolution of subsidiary	0	19,905	0
Impairment losses	11,254	5,809	3,735
Deferred income taxes	831	(5,193)	(1,376)
Excess tax benefit from equity-based awards	(5,301)	(726)	(1,231)
Equity-based compensation expense	16,425	12,507	12,814
(Gain) loss on foreign currency derivatives	(213)	103	(140)
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	40,156	(40,625)	29,608
Prepaids and other assets	18,407	57,597	27,413
Accounts payable and accrued expenses	(17,209)	76,726	97,268
Deferred revenue and other liabilities	(71,893)	(69,197)	(90,246)
Net cash provided by operating activities	251,296	271,920	237,989
Cash flows from investing activities
Proceeds from sale of long-live assets	93	20	382
Purchases of property, plant and equipment	(60,358)	(59,772)	(60,776)
Acquisitions, net of cash acquired of $18,638, $4,423 and $4,547, respectively	(481,718)	(52,675)	(102,457)
Net cash used in investing activities	(541,983)	(112,427)	(162,851)
Cash flows from financing activities
Net proceeds (borrowings) from line of credit	406,000	95,000	8,000
Payments on other debt	(6,626)	(8,619)	(11,855)
Payments of contingent consideration and hold back payments to acquisitions	(11,517)	(48,686)	(5,902)
Dividends paid to shareholders	(42,217)	(134,554)	(28,739)
Payments to noncontrolling interest	(10,984)	(10,801)	(4,950)
Capital contribution from noncontrolling interest	0	0	3,362
Tax payments related to issuance of restricted stock units	(11,397)	(4,521)	(5,471)
Payments of debt issuance costs	(3,614)	(45)	(1,819)
Net cash (used in) provided by financing activities	319,645	(112,226)	(47,374)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(7,291)	6,157	(410)
Increase (decrease) in cash, cash equivalents and restricted cash	21,667	53,424	27,354
Cash, cash equivalents and restricted cash, beginning of period	159,015	105,591	78,237
Cash, cash equivalents and restricted cash, end of period	180,682	159,015	105,591
Supplemental disclosures
Cash paid for interest	11,188	10,233	13,108
Cash paid for income taxes	71,392	47,761	36,316
Non-cash investing and financing activities
Acquisition of long lived assets through finance leases	912	1,852	3,731
Acquisition of equipment through increase in accounts payable, net	$ (2,243)	$ 347	$ 881

OTHER INTANGIBLE ASSETS (NARRATIVE) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Useful Life [Line Items]
Amortization expense related to intangible assets		$ 31,969	$ 16,186
Impairment losses		11,254	5,809	$ 3,735
TTEC Digital
Weighted Average Useful Life [Line Items]
Amortization expense related to intangible assets		32,000	16,200	$ 10,500
Impairment losses	$ 2,000
Customer Relationships [Member]
Weighted Average Useful Life [Line Items]
Amortization expense related to intangible assets		$ 0	0
Customer Relationships [Member] \| TTEC Digital
Weighted Average Useful Life [Line Items]
Weighted average useful life of intangible assets		7 years 1 month 6 days
Impairment losses	400
Other Intangible Assets [Member]
Weighted Average Useful Life [Line Items]
Amortization expense related to intangible assets		$ 0	$ 0
Other Intangible Assets [Member] \| TTEC Digital
Weighted Average Useful Life [Line Items]
Weighted average useful life of intangible assets		1 year 3 months 18 days
Intellectual Property [Member] \| TTEC Digital
Weighted Average Useful Life [Line Items]
Impairment losses	$ 200

INCOME TAXES (PROVISION TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current provision
Federal current	$ 20,697	$ 22,763	$ 5,289
State current	8,006	9,871	2,826
Foreign current	20,161	13,496	18,938
Total current provision	48,864	46,130	27,053
Deferred provision (benefit)
Federal deferred	(7,017)	(2,390)	2,515
State deferred	(402)	(254)	118
Foreign deferred	8,250	(2,549)	(4,009)
Deferred Income Tax Expense (Benefit), Total	831	(5,193)	(1,376)
Income Tax Expense (Benefit), Total	$ 49,695	$ 40,937	$ 25,677

Consolidated Statement of Stockholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated statement of stockholders' equity and mezzanine equity [Abstract]
Common Stock, Dividends, Per Share, Cash Paid	$ 0.90	$ 2.88	$ 0.62

INCOME TAXES (DTA AND DTL TABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets, gross
Accrued workers compensation, deferred compensation and employee benefits	$ 8,441	$ 8,574
Allowance for doubtful accounts, insurance and other accruals	4,767	4,463
Amortization of deferred lease liabilities	15,816	20,352
Net operating losses	18,006	20,508
Equity compensation	2,302	1,660
Customer acquisition and deferred revenue accruals	20,069	6,868
Federal and state tax credits, net	2,759	2,383
Unrealized losses on derivatives	22	1,187
DTA Impairment of equity investment	4,064	4,064
Partnership investment	106	526
Other	5,052	5,444
Total deferred tax assets, gross	81,404	76,029
Valuation allowances	(29,620)	(18,697)	$ (17,051)	$ (10,867)
Deferred Tax Assets, Net of Valuation Allowance, Total	51,784	57,332
Deferred tax liabilities
Depreciation and amortization	(10,291)	(10,734)
Unrealized gain on derivatives	0	(2,959)
Contract acquisition costs	(1,831)	(3,182)
Intangible Assets	(21,202)	(15,880)
DTL Operating lease assets	(12,481)	(16,763)
Other	(184)	(480)
Total deferred tax liabilities	(45,989)	(49,998)
Deferred Tax Assets, Net, Total	$ 5,795	$ 7,334

WEIGHTED AVERAGE SHARE COUNTS

12 Months Ended

Dec. 31, 2021

Weighted Average Share Counts

NET INCOME PER SHARE

(18)WEIGHTED AVERAGE SHARE COUNTS

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


	Year Ended December 31,
	2021	2020	2019

Shares used in basic earnings per share calculation	46,890	46,647	46,373
Effect of dilutive securities:
Restricted stock units	468	318	349
Performance-based restricted stock units	28	28	36
Total effects of dilutive securities	496	346	385
Shares used in dilutive earnings per share calculation	47,386	46,993	46,758

For the years ended December 31, 2021, 2020 and 2019, restricted stock units of 124 thousand, 8 thousand, and 28 thousand, respectively, were outstanding but not included in the computation of diluted net income per share because the effect would have been anti-dilutive.

OVERVIEW AND BASIS OF PRESENTATION (NARRATIVE) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021 USD ($)
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Deferred sales commission	$ 6.4
Revenue, Remaining Performance Obligation, Optional Exemption, Performance Obligation [true false]	true
Revenue, Practical Expedient, Financing Component [true false]	true
Percepta LLC
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
ownership percentage	55.00%
FCR
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
ownership percentage	70.00%
Serendebyte
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
ownership percentage	70.00%

DERIVATIVES (NOTIONAL TABLE) (Details) - Foreign Exchange Forward ₱ in Thousands, $ in Thousands, $ in Thousands, $ in Thousands	Dec. 31, 2021 USD ($)	Dec. 31, 2021 CAD ($)	Dec. 31, 2021 MXN ($)	Dec. 31, 2021 PHP (₱)	Dec. 31, 2020 USD ($)	Dec. 31, 2020 CAD ($)	Dec. 31, 2020 MXN ($)	Dec. 31, 2020 PHP (₱)
Derivative [Line Items]
Notional Amount	$ 234,319				$ 184,719
CAD
Derivative [Line Items]
Notional Amount	$ 7,022	$ 9,000			1,853	$ 2,450
% Maturing in the Next 12 Months	100.00%	100.00%	100.00%	100.00%
Contract Maturity Date	Jun. 30, 2022
PHP
Derivative [Line Items]
Notional Amount	$ 164,295			₱ 8,472,000	130,468			₱ 6,725,000
% Maturing in the Next 12 Months	51.70%	51.70%	51.70%	51.70%
Contract Maturity Date	Dec. 31, 2024
MXN
Derivative [Line Items]
Notional Amount	$ 63,002		$ 1,422,500		$ 52,398		$ 1,159,500
% Maturing in the Next 12 Months	43.20%	43.20%	43.20%	43.20%
Contract Maturity Date	Dec. 31, 2024

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (ROLLFORWARD TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, value	$ 457,762	$ 431,730	$ 352,849
Ending balance, value	538,025	457,762	431,730
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, value	(72,156)	(106,234)	(124,596)
Other comprehensive income (loss) before reclassifications	(29,637)	13,059	21,645
Amounts reclassified from accumulated other comprehensive income (loss)	3,367	21,019	(3,283)
Net current period other comprehensive income (loss)	(26,270)	34,078	18,362
Ending balance, value	(98,426)	(72,156)	(106,234)
Foreign Currency Translation Adjustment
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, value	(78,139)	(107,480)	(114,168)
Other comprehensive income (loss) before reclassifications	(17,408)	9,722	6,688
Amounts reclassified from accumulated other comprehensive income (loss)		19,619
Net current period other comprehensive income (loss)	(17,408)	29,341	6,688
Ending balance, value	(95,547)	(78,139)	(107,480)
Derivative Valuation, Net of Tax
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, value	8,431	4,182	(8,278)
Other comprehensive income (loss) before reclassifications	(12,126)	2,321	15,545
Amounts reclassified from accumulated other comprehensive income (loss)	3,655	1,928	(3,085)
Net current period other comprehensive income (loss)	(8,471)	4,249	12,460
Ending balance, value	(40)	8,431	4,182
Other, Net of Tax.
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance, value	(2,448)	(2,936)	(2,150)
Other comprehensive income (loss) before reclassifications	(103)	1,016	(588)
Amounts reclassified from accumulated other comprehensive income (loss)	(288)	(528)	(198)
Net current period other comprehensive income (loss)	(391)	488	(786)
Ending balance, value	$ (2,839)	$ (2,448)	$ (2,936)

- Definition

Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

LEASES OTHER INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES OTHER INFORMATION (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finance lease - operating cash flows	$ 45	$ 68
Finance lease - financing cash flows	6,385	7,911
New ROU assets - operating leases	15,280	6,834
Modified ROU assets - operating leases	736	6,485
New ROU assets - finance leases	1,141	2,292
Fixed payments
Operating Lease, Payments	$ 52,358	$ 55,862

INCOME TAXES (VALUATION ALLOWANCE ROLLFORWARD TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
INCOME TAXES [ABSTRACT]
Beginning balance, deferred income tax valuation allowance	$ 18,697	$ 17,051	$ 10,867
Additions to Deferred Income Tax Expense	14,660	4,650	7,373
Reduction of Deferred Income Tax Expense	(3,737)	(3,004)	(1,189)
Ending balance, deferred income tax valuation allowance	$ 29,620	$ 18,697	$ 17,051

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

RELATED PARTY TRANSACTIONS

(21)RELATED PARTY TRANSACTIONS

The Company entered into an agreement under which Avion, LLC (“Avion”) and Airmax LLC (“Airmax”) provide certain aviation flight services as requested by the Company. Such services include the use of an aircraft and flight crew. Kenneth D. Tuchman, Chairman and Chief Executive Officer of the Company, has an indirect 100% beneficial ownership interest in Avion and Airmax. During 2021, 2020 and 2019, the Company expensed $0.6 million, $0.4 million and $1.1 million, respectively, to Avion and Airmax for services provided to the Company. There was $50 thousand in payments due and outstanding to Avion and Airmax as of December 31, 2021.

Ms. Regina M. Paolillo, Global Chief Operating Officer of the Company, was a member of the board of directors of Welltok, Inc., a consumer health SaaS company, and partner of the Company in a joint venture. During the years ended December 31, 2021, 2020 and 2019, the Company recorded revenue of $1.5 million, $3.0 million and $5.3 million, respectively, in connection with work performed through the joint venture. As of December 2021, Ms. Paolillo is no longer a member of the board of directors and the joint venture has been wound down.

Ms. Regina M. Paolillo is a member of the board of directors of Unisys, a global information technology company. During the year ended December 31, 2021, the Company recorded revenue of $0.4 million in connection with services performed for Unisys.

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

INCOME TAXES [ABSTRACT]

Sources of Pre-Tax Accounting Income

The sources of pre-tax operating income are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Domestic	$	108,160	$	129,620	$	39,864
Foreign		99,724		40,648		70,547
Total	$	207,884	$	170,268	$	110,411

Components of Income Tax Expense (Benefit)

The components of the Company’s Provision for (benefit from) income taxes are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Current provision for (benefit from)
Federal	$	20,697	$	22,763	$	5,289
State		8,006		9,871		2,826
Foreign		20,161		13,496		18,938
Total current provision for (benefit from)		48,864		46,130		27,053
Deferred provision for (benefit from)
Federal		(7,017)		(2,390)		2,515
State		(402)		(254)		118
Foreign		8,250		(2,549)		(4,009)
Total deferred provision for (benefit from)		831		(5,193)		(1,376)
Total provision for (benefit from) income taxes	$	49,695	$	40,937	$	25,677

Effective Income Tax Rate Reconciliation Table

The following reconciles the Company’s effective tax rate to the federal statutory rate (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax per U.S. federal statutory rate (21%, 21%, 21%)	$	43,655	$	35,756	$	23,186
State income taxes, net of federal deduction		4,588		6,923		3,144
Change in valuation allowances		12,567		3,903		9,832
Foreign income taxes at different rates than the U.S.		(1,416)		(783)		(3,356)
Foreign withholding taxes		(93)		106		600
Losses in international markets without tax benefits		—		(1,656)		(2,651)
Nondeductible compensation under Section 162(m)		1,494		656		668
Taxes related to equity compensation		(4,282)		(587)		(976)
Liabilities for uncertain tax positions		(790)		2,882		661
Permanent difference related to foreign exchange gains		3,362		(71)		36
(Income) losses of foreign branch operations		(187)		(10)		55
Non-taxable earnings of noncontrolling interest		(3,085)		(1,964)		(1,294)
Foreign dividend less foreign tax credits		(1,142)		(1,723)		(1,681)
Decrease (increase) to deferred tax asset - change in tax rate		—		(48)		(2,848)
State and Federal income tax credits and NOL's		(4,531)		(3,918)		(1,176)
Foreign earnings taxed currently in U.S.		1,930		1,936		2,172
Taxes related to prior year filings		(1,192)		(1,718)		(1,643)
Taxes related to acquisition accounting		—		1,317		978
Other		(1,183)		(64)		(30)
Income tax per effective tax rate	$	49,695	$	40,937	$	25,677

Effective tax rate percentage		23.9%		24.0%		23.3%

Schedule of Deferred Tax Assets and Liabilities

The Company’s deferred income tax assets and liabilities are summarized as follows (in thousands):


	Year Ended December 31,
	2021		2020
Deferred tax assets, gross
Accrued workers compensation, deferred compensation and employee benefits	$	8,441	$	8,574
Allowance for credit losses, insurance and other accruals		4,767		4,463
Amortization of deferred lease liabilities		15,816		20,352
Net operating losses		18,006		20,508
Equity compensation		2,302		1,660
Customer acquisition and deferred revenue accruals		20,069		6,868
Federal and state tax credits, net		2,759		2,383
Unrealized losses on derivatives		22		1,187
Impairment of equity investment		4,064		4,064
Partnership Investment		106		526
Other		5,052		5,444
Total deferred tax assets, gross		81,404		76,029
Valuation allowances		(29,620)		(18,697)
Total deferred tax assets, net		51,784		57,332
Deferred tax liabilities
Depreciation and amortization		(10,291)		(10,734)
Unrealized gain on derivatives		—		(2,959)
Contract acquisition costs		(1,831)		(3,182)
Intangible assets		(21,202)		(15,880)
Operating lease assets		(12,481)		(16,763)
Other		(184)		(480)
Total deferred tax liabilities		(45,989)		(49,998)
Net deferred tax assets	$	5,795	$	7,334

Valuation Allowance Rollforward

Activity in the Company’s valuation allowance accounts consists of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Beginning balance	$	18,697	$	17,051	$	10,867
Additions of deferred income tax expense		14,660		4,650		7,373
Reductions of deferred income tax expense		(3,737)		(3,004)		(1,189)
Ending balance	$	29,620	$	18,697	$	17,051

Expiration of Net Operating Loss Carryforwards

As of December 31, 2021, after consideration of all tax loss carry back opportunities, the Company had tax affected tax loss carry forwards worldwide expiring as follows (in thousands):


2022	$	—
2023		94
2024		125
2025		50
After 2025		8,411
No expiration		9,326
Total	$	18,006

Reserve for Uncertain Tax Positions Rollforward

The tabular reconciliation of the reserve for uncertain tax benefits on a gross basis without interest for the three years ended December 31, 2021 is presented below (in thousands):


Balance as of December 31, 2018	$	4,784
Additions for current year tax positions		—
Reductions in prior year tax positions		—
Balance as of December 31, 2019		4,784
Additions for current year tax positions		2,725
Reductions in prior year tax positions		—
Balance as of December 31, 2020		7,509
Additions for current year tax positions		220
Reductions in prior year tax positions		(826)
Balance as of December 31, 2021	$	6,903

Jurisdictions Open to Income Tax Examination


Tax Jurisdiction		Tax Year Ended
United States		2017 to Present
Australia		2017 to Present
India		2017 to Present
Canada		2017 to Present
Mexico		2016 to Present
Philippines		2018 to Present

OTHER INTANGIBLE ASSETS (FUTURE AMORTIZATION EXPENSE TABLE) (Details) $ in Thousands	Dec. 31, 2021 USD ($)
OTHER INTANGIBLE ASSETS [Abstract]
Year 1	$ 31,147
Year 2	29,935
Year 3	27,358
Year 4	25,324
Year 5	25,264
Thereafter	73,321
Total, finite lived intangible assets	$ 212,349

FAIR VALUE (NARRATIVE) (Details)				1 Months Ended		3 Months Ended						12 Months Ended
FAIR VALUE (NARRATIVE) (Details)	Dec. 31, 2021 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Apr. 30, 2022 USD ($)	Apr. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Jun. 30, 2020 USD ($)	Mar. 31, 2020 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Nov. 04, 2020	Dec. 31, 2019 USD ($)	Oct. 26, 2019 USD ($)
Business acquisitions, Contingent Consideration [Line Items]
Line of credit	$ 791,000,000					$ 791,000,000			$ 385,000,000			$ 791,000,000	$ 385,000,000
Average interest rate on annual borrowings												1.30%	1.60%
Business Combination Contingent Consideration Liability	9,600,000					9,600,000			18,032,000			$ 9,600,000	$ 18,032,000		$ 6,134,000
FCR
Business acquisitions, Contingent Consideration [Line Items]
Business Combination Contingent Consideration Liability	0					0			0			0	0		6,134,000	$ 10,900,000
Increase (decrease) in contingent consideration payable	1,800,000	$ 1,100,000	$ 3,300,000			1,800,000				$ 1,100,000	$ 3,300,000
FCR \| Discount Rate
Business acquisitions, Contingent Consideration [Line Items]
Business combination contingent consideration measurement input																16.7
VoiceFoundry US
Business acquisitions, Contingent Consideration [Line Items]
Business Combination Contingent Consideration Liability	$ 7,414,000					7,414,000			14,085,000			$ 7,414,000	14,085,000		0
Increase (decrease) in contingent consideration payable				$ (7,400,000)	$ (7,400,000)	$ (25,000)	$ (200,000)	$ (500,000)
VoiceFoundry US \| Discount Rate
Business acquisitions, Contingent Consideration [Line Items]
Business combination contingent consideration measurement input	23.1					23.1						23.1
VoiceFoundry ASEAN
Business acquisitions, Contingent Consideration [Line Items]
Business Combination Contingent Consideration Liability	$ 2,186,000					$ 2,186,000			3,947,000			$ 2,186,000	$ 3,947,000		$ 0
Increase (decrease) in contingent consideration payable				$ (2,200,000)	$ (2,200,000)	$ (100,000)	$ 100,000	$ (400,000)	$ 1,200,000
VoiceFoundry ASEAN \| Discount Rate
Business acquisitions, Contingent Consideration [Line Items]
Business combination contingent consideration measurement input	18.4					18.4						18.4		18.4
VoiceFoundry Acquisitions
Business acquisitions, Contingent Consideration [Line Items]
Increase (decrease) in contingent consideration payable						$ 4,300,000

DEFERRED REVENUE AND COSTS (DEFERRED REVENUE CLASSIFICATION TABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
DEFERRED REVENUE AND COSTS [ABSTRACT]
Deferred revenue - current	$ 95,608	$ 39,956
Deferred revenue - long-term	17,078	17,434
Total deferred revenue	$ 112,686	$ 57,390

OTHER LONG TERM LIAB

12 Months Ended

Dec. 31, 2021

Other Liabilities, Noncurrent [Abstract]

Other Liabilities Disclosure [Text Block]

(16) OTHER LONG-TERM LIABILITIES

The components of Other long-term liabilities as of December 31, 2021 and 2020 are as follows (in thousands):


	December 31, 2021		December 31, 2020

Deferred revenue	$	17,078	$	17,434
Deferred compensation plan		30,012		23,858
Deferred social security taxes		—		15,986
Other		32,737		38,907
Total	$	79,827	$	96,185

DERIVATIVES (Tables)

12 Months Ended

Dec. 31, 2021

DERIVATIVES [ABSTRACT]

Schedule of Cash Flow Hedges OCI Rollforward


	Year Ended December 31,
	2021		2020		2019

Aggregate unrealized net gain/(loss) at beginning of period	$	8,431	$	4,182	$	(8,278)
Add: Net gain/(loss) from change in fair value of cash flow hedges		(12,126)		2,321		15,545
Less: Net (gain)/loss reclassified to earnings from effective hedges		3,655		1,928		(3,085)
Aggregate unrealized net gain/(loss) at end of period	$	(40)	$	8,431	$	4,182

Schedule of Notional Amounts of Outstanding Cash Flow Hedges

The Company’s foreign exchange cash flow hedging instruments as of December 31, 2021 and 2020 are summarized as follows (in thousands). All hedging instruments are forward contracts.


	Local
	Currency	U.S. Dollar			% Maturing		Contracts
	Notional	Notional			in the next		Maturing
As of December 31, 2021	Amount	Amount			12 months		Through
Canadian Dollar	9,000	$	7,022		100.0	%	June 2022
Philippine Peso	8,472,000		164,295	⁽¹⁾	51.7	%	December 2024
Mexican Peso	1,422,500		63,002		43.2	%	December 2024
		$	234,319


	Local
	Currency	U.S. Dollar
	Notional	Notional
As of December 31, 2020	Amount	Amount
Canadian Dollar	2,450	$	1,853
Philippine Peso	6,725,000		130,468	⁽¹⁾
Mexican Peso	1,159,500		52,398
		$	184,719

(1)	Includes contracts to purchase Philippine pesos in exchange for New Zealand dollars and Australian dollars, which are translated into equivalent U.S. dollars on December 31, 2021 and December 31, 2020.

Schedule of Derivatives Instruments on Balance Sheet

The Company’s derivatives as of December 31, 2021 and 2020 were as follows (in thousands):


	December 31, 2021
	Designated		Not Designated
	as Hedging		as Hedging
Designation:	Instruments		Instruments
	Foreign		Foreign
Derivative contract type:	Exchange		Exchange
Derivative classification:	Cash Flow		Fair Value

Fair value and location of derivative in the Consolidated Balance Sheet:
Prepaids and other current assets	$	2,272	$	204
Other long-term assets		611		—
Other current liabilities		(1,527)		(6)
Other long-term liabilities		(1,418)		—
Total fair value of derivatives, net	$	(62)	$	198


	December 31, 2020
	Designated		Not Designated
	as Hedging		as Hedging
Designation:	Instruments		Instruments
	Foreign		Foreign
Derivative contract type:	Exchange		Exchange
Derivative classification:	Cash Flow		Fair Value

Fair value and location of derivative in the Consolidated Balance Sheet:
Prepaids and other current assets	$	6,939	$	103
Other long-term assets		4,528		—
Other current liabilities		(73)		(118)
Other long-term liabilities		(4)		—
Total fair value of derivatives, net	$	11,390	$	(15)

Schedule of cash flow hedge impact on Statement of Comprehensive Income


	Year Ended December 31,
	2021		2020

	Designated as Hedging
Designation:	Instruments
Derivative contract type:	Foreign Exchange
Derivative classification:	Cash Flow

Amount of gain or (loss) recognized in Other comprehensive income (loss) - effective portion, net of tax	$	3,655	$	1,928

Amount and location of net gain or (loss) reclassified from Accumulated OCI to income - effective portion:
Revenue	$	4,939	$	2,618

Schedule of fair value derivative impact on Statement of Comprehensive Income


	Year Ended December 31,
	2021		2020

Designation:	Not Designated as Hedging Instruments
Derivative contract type:	Foreign Exchange
Derivative classification:	Fair Value

Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss):
Other income (expense), net	$	191	$	205

PROPERTY PLANT AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2021

PROPERTY PLANT AND EQUIPMENT [ABSTRACT]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following (in thousands):


	December 31,
	2021		2020
Land and buildings	$	32,942	$	32,944
Computer equipment and software		503,056		474,415
Telephone equipment		50,256		51,717
Furniture and fixtures		84,944		85,149
Leasehold improvements		189,161		193,823
Motor vehicles		257		258
Property, plant and equipment, gross		860,616		838,306
Less: Accumulated depreciation and amortization		(692,212)		(659,600)
Property, plant and equipment, net	$	168,404	$	178,706

LEASE ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
ASSETS.
Operating lease assets	$ 90,180	$ 120,820
Finance lease assets	7,119	12,659
Total leased assets	97,299	133,479
Current
Operating Lease, Liability, Current	44,460	43,651
Finance Lease, Liability, Current	$ 3,001	$ 6,193
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Other current liabilities	Other current liabilities
Non-current
Operating Lease, Liability, Noncurrent	$ 64,419	$ 98,277
Finance Lease, Liability, Noncurrent	$ 2,866	$ 4,763
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Other liabilities, noncurrent	Other liabilities, noncurrent
Total lease liabilities	$ 114,746	$ 152,884

INCOME TAXES (TAX RATE RECONCILIATION TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Effective tax rate reconciliation
Income tax per U.S. federal statutory rate (21%, 21%, 21%)	$ 43,655	$ 35,756	$ 23,186
State income taxes, net of federal deduction	4,588	6,923	3,144
Change in valuation allowances	12,567	3,903	9,832
Foreign income taxes at different rates than the U.S.	(1,416)	(783)	(3,356)
Foreign withholding taxes	(93)	106	600
Losses in international markets without tax benefits		(1,656)	(2,651)
Nondeductible compensation under Section 162(m)	1,494	656	668
Taxed related to equity compensation	(4,282)	(587)	(976)
Liabilities for uncertain tax positions	(790)	2,882	661
Permanent difference related to foreign exchange gains	3,362	(71)	36
(Income)/losses of foreign branch operations	(187)	(10)	55
Non-taxable earnings of minority interest	(3,085)	(1,964)	(1,294)
Foreign dividend less foreign tax credits	(1,142)	(1,723)	(1,681)
Decrease (increase) to deferred tax asset - change in state tax rate		(48)	(2,848)
State and federal income tax credits and NOLs	(4,531)	(3,918)	(1,176)
Foreign earnings taxed currently in U.S.	1,930	1,936	2,172
Taxes related to prior year filings	(1,192)	(1,718)	(1,643)
Tax related to acquisition accounting		1,317	978
Other	(1,183)	(64)	(30)
Income Tax Expense (Benefit), Total	$ 49,695	$ 40,937	$ 25,677
Effective income tax rate	23.90%	24.00%	23.30%

ACQUISITIONS

12 Months Ended

Dec. 31, 2021

ACQUISITIONS [ABSTRACT]

ACQUISITIONS

(2)ACQUISITIONS

Faneuil

On December 21, 2021, TTEC Government Solutions LLC, a TTEC Holdings, Inc.’s subsidiary, entered into an agreement with Faneuil, Inc., a subsidiary of ALJ Regional Holdings, Inc., pursuant to which and subject to the satisfaction of certain closing conditions, TTEC Government Solutions LLC will acquire certain public sector citizen experience contracts in the transportation infrastructure and healthcare exchange industries from Faneuil for cash consideration of $140.0 million plus certain future contingent payments, and customary adjustments; and subject to customary indemnification for representations and warranties of the sellers about the state of the business. In addition, Faneuil agreed to grant to TTEC Government Solutions LLC a three-year call right and a right of first offer to purchase certain other assets of Faneuil in its utilities, commercial healthcare, proprietary technology, and certain other verticals.

Transaction closing is contingent on (1) the satisfactory completion of Hard-Scott-Rodino competition review by the U.S. Federal Trade Commission, which was accomplished at the end of January 2021; (2) the receipt of consents to assignment of contracts which is on-going; and (3) the completion of customary transition services agreements between TTEC and Faneuil to support the transition. Based on the currently available information, parties anticipate that the transaction will close in the first quarter of 2022.

Avtex

On April 8, 2021, the Company acquired, through its subsidiary TTEC Digital, LLC, 100% of the outstanding stock of Avtex Solutions Holdings, LLC (“Avtex”). Avtex is an end-to-end customer experience and CXaaS solutions provider with offerings in Genesys and Microsoft cloud solutions. The business is operated as part of the TTEC Digital segment and is being fully consolidated into the financial statements of TTEC.

Total cash paid at acquisition was $499.946 million ($490.0 million base purchase price plus cash, less debt and working capital estimate). The Avtex transaction is subject to customary representations and warranties, holdbacks, and a net working capital adjustment. The Company used cash from operations and drew down on its Credit Facility to fund the acquisition. The Company finalized the net working capital adjustment for $0.1 million during the third quarter of 2021 which was paid by Avtex to the Company in the third quarter of 2021.

During the fourth quarter of 2021, TTEC implemented ASU 2021-08 which required an accounting modification to the deferred revenue balance as of the acquisition date (see discussion above in Note 1). The deferred revenue balance was evaluated as if TTEC had been the company securing the initial contract and accounted for these contracts in accordance with ASC 606. Based on this re-assessment, the $4.9 million reduction initially recorded to deferred revenue in connection with the purchase price accounting was eliminated and an offsetting increase to Goodwill was recorded as of the acquisition date. In connection with this modification, revenue of $3.4 million was recorded in the fourth quarter of 2021 related to deferred revenue from the second and third quarters of 2021.

A multi-period excess earnings method under the income approach was used to estimate the fair value of the customer relationships intangible asset. The significant assumptions utilized in calculating the fair value of the customer relationships intangible asset were the customer attrition rate, revenue growth rates, forecasted EBITDA, contributory asset charge, and the discount rate.

The following summarizes the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Preliminary
	Estimate of
	Acquisition Date
	Fair Value
Cash	$	18,638
Accounts receivable, net		22,214
Prepaid expenses		26,389
Current income tax receivables		93
Net fixed assets		3,162
Right of use assets		3,614
Other Assets		480
Tradename		5,300
Intellectual property intangible		770
Customer relationships		128,200
Goodwill		378,882
	$	587,742

Accounts payable	$	20,580
Accrued employee compensation		4,325
Accrued expenses		250
Right of use liability - current		678
Deferred revenue		56,765
Accrued income taxes		332
Deferred tax liability		1,930
Right of use liability - noncurrent		2,936
	$	87,796

Total purchase price	$	499,946

The estimates of fair value of identifiable assets acquired and liabilities assumed are preliminary, pending finalization of the valuation and tax returns, thus are subject to revisions that may result in adjustments to the value presented above.

The Avtex customer relationships, intellectual property intangible, and tradename have been estimated based on the initial valuation and will be amortized over estimated useful lives of 9, 3, and 1 years, respectively. The goodwill recognized from the Avtex acquisition is estimated to be attributable, but not limited to, the acquired workforce and expected synergies with the TTEC Digital segment. The tax basis of the acquired intangibles and goodwill will be materially deductible for income tax purposes. The acquired goodwill and intangibles and operating results of Avtex are reported within the TTEC Digital segment from the date of acquisition.

VoiceFoundry US

On August 5, 2020, TTEC Digital, LLC, closed the first phase of the acquisition of the VoiceFoundry business by acquiring 100% of the business’s net assets in the U.S. and U.K., (the “VF US Transaction”). VoiceFoundry is a preferred Amazon Connect cloud contact center service and implementation partner. The business has been integrated into the TTEC Digital segment and is being fully consolidated into the financial statements of TTEC.

Total cash paid at acquisition was $34.3 million. The VF US Transaction is subject to customary representations and warranties, holdbacks, and working capital adjustments. The VF US Transaction includes two contingent payments over the next two years with each payment having a maximum value of $7.4 million based on VF US’s EBITDA performance for 2020 and 2021. The Company finalized the net working capital adjustment for $0.3 million which was paid to VoiceFoundry during the first quarter of 2021.

The fair value of the contingent consideration has been estimated using a Monte Carlo model. The model was based on current expected EBITDA performance, a discount rate of 23.1%, a volatility rate of 47%, and an adjusted risk-free rate of 2.6%. Based on the model, a $10.9 million expected future payment was calculated and recorded as of the acquisition date. During the fourth quarter of 2020, the first quarter of 2021, the second quarter of 2021 and the fourth quarter of 2021, a $3.2 million expense, a $0.5 million expense, a $0.2 million expense, and a $25 thousand expense, respectively, were recorded related to a fair value adjustment of the estimated contingent consideration based on revised estimates of EBITDA performance for 2021. The expense was included in Other income (expense) in the Consolidated Statements of Comprehensive Income (Loss). During the first quarter of 2021, the contingent payment related to 2020 was finalized at a value of $7.4 million and was paid in April 2021. During the first quarter of 2022, the contingent payment related to 2021 was finalized at a value of $7.4 million and will be paid in April 2022. As of December 31, 2021, the value of the accrual is $7.4 million and is included in Other accrued expenses in the accompanying Consolidated Balance Sheets.

A multi-period excess earnings method under the income approach was used to estimate the fair value of the customer relationships intangible asset. The significant assumption utilized in calculating the fair value of the customer relationships intangible asset was the customer attrition rate.

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Accounts receivable, net	$	3,758
Prepaid and other expenses		345
Tradename		400
Non-compete		150
Customer relationships		6,550
Goodwill		35,881
	$	47,084

Accounts payable	$	289
Accrued employee compensation		741
Deferred revenue		170
	$	1,200

Total purchase price	$	45,884

In the first quarter of 2021, the Company finalized the valuation of VF US for the acquisition date assets acquired and liabilities assumed and determined that no material adjustments to any of the balances were required.

The VF US customer relationships and tradename are being amortized over useful lives of 4 and 2 years, respectively. The goodwill recognized from the VF US acquisition is attributable, but not limited to, the acquired workforce and expected synergies with TTEC Digital segment. The tax basis of the acquired intangibles and goodwill will be deductible for income tax purposes. The acquired goodwill and intangibles and operating results of VF US are reported within the TTEC Digital segment from the date of acquisition.

VoiceFoundry ASEAN

On November 4, 2020, TTEC Europe BV, a subsidiary of the Company, closed the final phase of the acquisition of the VoiceFoundry business by acquiring 100% of the issued stock of Saasy Ventures Pty Ltd. (“Saasy”, “VF ASEAN”). The business has been integrated into the TTEC Digital segment and is being fully consolidated into the financial statements of TTEC.

Total cash paid at acquisition was $15.2 million. The VF ASEAN Transaction is subject to customary representations and warranties, holdbacks, and working capital adjustments. The VF ASEAN Transaction includes two contingent payments over the next two years with each payment having a maximum value of $2.2 million based on VF ASEAN’s EBITDA performance for 2020 and 2021. The Company finalized the net working capital adjustment for $0.2 million which was paid from VoiceFoundry during the third quarter of 2021.

The fair value of the contingent consideration has been estimated using a Monte Carlo model. The model was based on current expected EBITDA performance, a discount rate of 18.4%, a volatility rate of 50%, and an adjusted risk-free rate of 1.6%. Based on the model, a $2.8 million expected future payment was calculated and recorded as of the acquisition date. During the fourth quarter of 2020, the first quarter of 2021, the second quarter of 2021 and the fourth quarter of 2021, a $1.2 million expense, a $0.4 million expense, a $0.1 million benefit and a $0.1 million expense, respectively, were recorded related to fair value adjustments of the estimated contingent consideration based on estimates of EBITDA performance for 2020 and 2021. These expenses/benefits were included in Other income (expense) in the Consolidated Statements of Comprehensive Income (Loss). During the first quarter of 2021, the contingent payment related to 2020 was finalized at a value of $2.2 million and was paid in April 2021. During the first quarter of 2022, the contingent payment related to 2021 was finalized at a value of $2.2 million and will be paid in April 2022. As of December 31, 2021, the value of the accrual is $2.2 million and is included in Other accrued expenses in the accompanying Consolidated Balance Sheets.

A multi-period excess earnings method under the income approach was used to estimate the fair value of the customer relationships intangible asset. The significant assumption utilized in calculating the fair value of the customer relationships intangible asset was the customer attrition rate.

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Cash	$	1,300
Accounts receivable, net		937
Prepaid and other expenses		115
Income tax receivable		30
Property, plant and equipment		274
Tradename		300
Customer relationships		3,100
Goodwill		14,418
	$	20,474

Accounts payable	$	960
Accrued employee compensation		113
Deferred revenue		236
Deferred tax liability		1,013
Other accrued liabilities		(78)
	$	2,244

Total purchase price	$	18,230

In the second quarter of 2021, the Company finalized the valuation for VF ASEAN for the acquisition date assets acquired and liabilities assumed and determined that no material adjustments to any of the balances were required.

The VF ASEAN customer relationships and tradename are being amortized over useful lives of 4 and 2 years, respectively. The goodwill recognized from the VF ASEAN Transaction is attributable, but not limited to, the acquired workforce and expected synergies with TTEC Digital segment. The tax basis of the acquired intangibles and goodwill will be not deductible for income tax purposes. The acquired goodwill and intangibles and operating results of VF ASEAN are reported within the TTEC Digital segment from the date of acquisition.

Serendebyte

On February 7, 2020, the Company acquired, through its subsidiary TTEC Digital LLC, 70% of the outstanding shares of capital stock of Serendebyte Inc., a Delaware corporation (“the Serendebyte Transaction”). Serendebyte is an autonomous customer experience and intelligent automation solutions provider based in India, the United States, and Canada. The business has been integrated into the TTEC Digital segment and is being fully consolidated into the financial statements of TTEC.

Total cash paid at acquisition, for 70% of the outstanding shares of capital stock, was $9.0 million. The Serendebyte Transaction is subject to customary representations and warranties, holdbacks, and a net working capital adjustment. The Company finalized the net working capital adjustment for $0.8 million during the second quarter of 2020 which was paid by Serendebyte to the Company in the second quarter of 2020.

As of the closing of the Serendebyte Transaction, Serendebyte’s founder and certain members of its management continued to hold the remaining 30% interest in Serendebyte, Inc. (“Remaining Interest”). Between January 31, 2023 and December 31, 2023, Serendebyte’s founder and the management team shall have an option to sell to TTEC Digital LLC and TTEC Digital LLC shall have an option to purchase the Remaining Interest at a purchase price equal to a multiple of Serendebyte’s adjusted trailing twelve month EBITDA for this particular acquisition. The noncontrolling interest was recorded at fair value on the date of acquisition. The fair value was based on significant inputs not observable in the market (Level 3 inputs) including forecasted earnings, discount rate of 35%, working capital requirements and applicable tax rates. The noncontrolling interest was valued at $3.8 million at the acquisition date and is shown as Redeemable noncontrolling interest in the accompanying Consolidated Balance Sheets. The Company recognizes changes in the redemption value of the Redeemable noncontrolling interest immediately as they occur but does not reduce the carrying value below the carrying value determined in accordance with ASC 810 (that amount being determined based on the allocation of income or loss to the noncontrolling interest as adjusted for distributions). At each subsequent reporting date, the current redeemable value is calculated and, if necessary, an adjustment is recorded to increase or decrease the noncontrolling interest account to reflect the appropriate balance, with the corresponding adjustment to retained earnings. As of December 31, 2021, no adjustments have been recorded related to changes in the estimated redemption value.

As a condition to closing, Serendebyte’s founder and certain members of the management team agreed to continue their affiliation with Serendebyte at least through 2023, and the founder agreed not to compete with TTEC for a period of four years after the disposition of the Remaining Interest.

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Cash	$	3,123
Accounts receivable, net		1,243
Prepaid and other expenses		1,327
Property, plant and equipment		20
Deferred tax assets		14
Tradename		400
Customer relationships		1,920
Goodwill		9,033
	$	17,080

Accounts payable	$	120
Accrued employee compensation and benefits		1,025
Accrued income taxes		170
Accrued expenses		2,208
Deferred tax liabilities - long-term		629
	$	4,152

Total purchase price	$	12,928

In the fourth quarter of 2020, the Company finalized the valuation of Serendebyte for the acquisition date assets acquired and liabilities assumed and determined no material adjustments to any of the balances were required.

At the date of the purchase, an additional $2.2 million of cash was retained in the entity that was withdrawn by the holders of the Remaining Interest during the second quarter of 2020.

The Serendebyte customer relationships and tradename are being amortized over useful lives of 5 and 3 years, respectively. The goodwill recognized from the Serendebyte acquisition is attributable, but not limited to, the acquired workforce and expected synergies with TTEC Digital segment. The tax basis of the acquired intangibles and goodwill will not be deductible for income tax purposes. The acquired goodwill and intangibles and operating results of Serendebyte are reported within the TTEC Digital segment from the date of acquisition.

First Call Resolution

On October 26, 2019, the Company acquired, through its subsidiary TTEC Services Corporation (“TSC”), 70% of the outstanding membership interest in First Call Resolution, LLC (“FCR”), an Oregon limited liability company (“the FCR Transaction”). FCR is a customer care, social networking and business process solutions service provider with approximately 2,000 employees based in the U.S. The business has been integrated into the Engage segment and is being fully consolidated into the financial statements of TTEC.

Total cash paid at acquisition was $107.0 million, inclusive of $4.5 million related to cash balances, for the 70% membership interest in FCR. The FCR Transaction was subject to customary representations and warranties, holdbacks, and a net working capital adjustment. The FCR Transaction included a potential contingent payment with a maximum value of $10.9 million based on FCR’s 2020 EBITDA performance. The Company finalized the working capital adjustment for $0.7 million during the first quarter of 2020 which was paid by FCR to TSC in March 2020.

As of the closing of the FCR Transaction, Ortana Holdings, LLC, an Oregon limited liability company (“Ortana”), owned by the FCR founders, will continue to hold the remaining 30% membership interest in FCR (“Remaining Interest”). Between January 31, 2023 and December 31, 2023, Ortana shall have an option to sell to TSC and TSC shall have an option to purchase from Ortana the Remaining Interest at a purchase price equal to a multiple of FCR’s adjusted trailing twelve month EBITDA for this particular acquisition and not to compete with the Company for a period of four years after the disposition of the Remaining Interest. The noncontrolling interest was recorded at fair value on the date of acquisition. The fair value was based on significant inputs not observable in the market (Level 3 inputs) including forecasted earnings, discount rate of 19.6%, working capital requirements and applicable tax rates. The noncontrolling interest was valued at $48.3 million on the acquisition date and is shown as Redeemable noncontrolling interest in the accompanying Consolidated Balance Sheets. The Company recognizes changes in the redemption value of the Redeemable noncontrolling interest immediately as they occur but does not reduce the carrying value below the carrying value determined in accordance with ASC 810 (that amount being determined based on the allocation of income or loss to the noncontrolling interest as adjusted for distributions). At each subsequent reporting date, the current redeemable value is calculated and, if necessary, an adjustment is recorded to increase or decrease the noncontrolling interest account to reflect the appropriate balance, with the corresponding adjustment to retained earnings. As of December 31, 2021, no adjustments have been recorded related to changes in the estimated redemption value.

The fair value of the contingent consideration has been measured based on significant inputs not observable in the market (Level 3 inputs). Significant assumptions include a discount rate of 16.7% expected forecast volatility of 20%, an equivalent metric risk premium of 15.1%, risk-free rate of 1.6% and a credit spread of 1.8%. Based on these, a $6.5 million expected future payment was calculated. As of the acquisition date, the present value of the contingent consideration was $6.1 million. During the first, second and fourth quarters of 2020, $3.3 million, $1.1 million and $1.8 million of net benefits, respectively, were recorded related to fair value adjustment of the estimated contingent consideration based on revised actuals and estimates of EBITDA performance for 2020. The benefits were included in Other income (expense) in the Consolidated Statements of Comprehensive Income (Loss). As of December 31, 2021, the final value of the contingent consideration was calculated at zero based on actual performance for 2020.

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Cash	$	5,225
Accounts receivable, net		10,659
Prepaid expenses		357
Property and equipment		6,006
Other assets		224
Operating lease assets		5,127
Tradename		8,600
Customer relationships		38,540
Goodwill		96,739
	$	171,477

Accounts payable	$	388
Operating lease liability - short-term		1,160
Accrued employee compensation and benefits		4,049
Accrued expenses		72
Operating lease liability - long-term		3,967
	$	9,636

Total purchase price	$	161,841

In the first quarter of 2020, the Company finalized its valuation of FCR for the acquisition date assets acquired and liabilities assumed and determined that no material adjustments to any of the balances were required.

As part of the purchase, an additional net $0.7 million of cash was retained in the entity to pay for certain Ortana liabilities that had been recorded prior to the acquisition.

The FCR customer relationships and tradename are being amortized over a useful life of 10 and 4 years, respectively. The goodwill recognized from the FCR acquisition is attributable, but not limited to, the acquired workforce and expected synergies with Engage. The tax basis of the acquired intangibles and goodwill will be deductible for income tax purposes. The acquired goodwill and intangibles and operating results of FCR are reported within the Engage segment from the date of acquisition.

Financial Impact of Acquired Businesses

The acquired businesses purchased in 2021, 2020 and 2019 noted above contributed revenues of $147.7 million, $19.4 million and $18.6 million, and a net income of $9.8 million, $1.9 million and $1.4 million, to the Company in the respective year in which they were acquired for the years ended December 31, 2021, 2020 and 2019, respectively.

The unaudited proforma financial results for the twelve months ended 2021 combines the consolidated results of the Company and Avtex assuming the acquisition had been completed on January 1, 2020. The reported revenue and net income of $2,273.1 million and $141.0 million would have been $2,320.1 million and $140.3 million for the year ended December 31, 2021, respectively, on an unaudited proforma basis.

The unaudited proforma financial results for the twelve months ended 2020 combines the consolidated results of the Company, and Avtex assuming the acquisition had been completed on January 1, 2020 and VoiceFoundry US, VoiceFoundry ASEAN and Serendebyte, assuming the acquisitions had been completed on January 1, 2019. For 2020, the reported revenue and net income of $1,949.2 million and $118.6 million would have been $2,135.6 million and $115.6 million for the year ended December 31, 2020, respectively, on an unaudited proforma basis.

The unaudited proforma financial results for the twelve months ended 2019 combines the consolidated results of the Company and VoiceFoundry US, VoiceFoundry ASEAN and Serendebyte, assuming the acquisitions had been completed on January 1, 2019 and also includes FCR assuming the acquisition had been completed on January 1, 2018. For 2019, the reported revenue and net income of $1,643.7 million and $77.2 million would have been $1,741.3 million and $87.0 million for the year ended December 31, 2019, respectively, on an unaudited proforma basis.

The Company did not have any material, nonrecurring proforma adjustments directly attributable to the business combination included in the reported proforma revenue earnings. These proforma amounts have been calculated after applying the Company’s accounting policies and adjusting the respective acquired businesses’ results to reflect the additional depreciation and amortization that would have been charged assuming the fair value adjustments to property, plant and equipment, and intangible assets had been applied from the date indicated, with the consequential tax effects.

The unaudited pro forma consolidated results are not to be considered indicative of the results if these acquisitions occurred in the periods mentioned above, or indicative of future operations or results. Additionally, the pro forma consolidated results do not reflect any anticipated synergies expected as a result of the acquisition.

Dissolutions

In the ordinary course of business, the Company operates different legal entities around the globe that have functional currencies other than USD. From time-to-time, the Company liquidates some of the entities when they are no longer needed to operate its business, and also forms new entities to support the needs of the business. The liquidation proceedings may take different forms, take considerable amount of time, and may also result in losses or gains unrelated to operations. In the second quarter ended June 30, 2020, the Company exited a foreign subsidiary that resulted in a non-cash $2.5 million loss included in Other income (expense), net in the Consolidated Statements of Comprehensive Income (Loss) from the realization of the Accumulated other comprehensive income (loss), which represents the currency translation adjustment of the investment in the foreign subsidiary. Similarly, in the third quarter ended September 30, 2020, the Company exited two foreign subsidiaries that ceased operations and were removed from the consolidated financial statements as of the reporting period ended September 30, 2020. As a result of the deconsolidation, a non-cash $17.4 million loss was included in Other income (expense), net in the Consolidated Statements of Comprehensive Income (Loss). The majority of this loss related to the realization of the Accumulated other comprehensive income (loss) balance which represents the currency translation adjustment of the investment in the foreign subsidiaries. The operating income of these subsidiaries prior to dissolution was not material to the year-to-date consolidated results of the Company.

RESTRUCTURING AND INTEGRATION CHARGES AND IMPAIRMENT LOSSES (LIABILITY CLASSIFICATION TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restructuring Cost and Reserve [Line Items]
Reduction in force	$ 1,168	$ 1,064	$ 1,035
Facility exit charges	2,639	2,200	712
Restructuring charges, net	3,807	3,264	1,747
TTEC Digital
Restructuring Cost and Reserve [Line Items]
Reduction in force	858	668	141
Facility exit charges	10	90	41
TTEC Engage
Restructuring Cost and Reserve [Line Items]
Reduction in force	310	396	894
Facility exit charges	$ 2,629	$ 2,110	$ 671

LEASE COST (Details) - USD ($) $ in Thousands	12 Months Ended
LEASE COST (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lease Cost Table Line Items
Total lease cost	$ 59,243	$ 64,088
Depreciation and Amortization
Lease Cost Table Line Items
Amortization of ROU assets - finance leases	6,674	7,661
Interest Expense
Lease Cost Table Line Items
Interest on lease liabilities - finance leases	136	203
Cost of Services
Lease Cost Table Line Items
Operating lease cost (cost resulting from lease payments)	39,087	46,375
Short-term Lease, Cost	4,529	3,888
Variable Lease, Cost	(1,246)
Variable Lease, Cost		(287)
Selling General And Administrative Expenses [Member]
Lease Cost Table Line Items
Operating lease cost (cost resulting from lease payments)	2,770	2,040
Sublease Income	(807)	(836)
Restructuring
Lease Cost Table Line Items
Operating lease cost (cost resulting from lease payments)	1,614	1,232
Impairment
Lease Cost Table Line Items
Operating lease cost (cost resulting from lease payments)	5,338	5,127
Other income (expense), net
Lease Cost Table Line Items
Operating lease cost (cost resulting from lease payments)	1,240	1,149
Sublease Income	$ (2,584)	$ (2,464)

EMPLOYEE COMPENSATION PLANS (Tables)

12 Months Ended

Dec. 31, 2021

EMPLOYEE COMPENSATION PLANS [Abstract]

Summary of non-vested RSU's and performance-based RSU's


		Weighted
		Average
		Grant Date
	Shares	Fair Value

Unvested as of December 31, 2020	1,029,176	$	41.12
Granted	325,078	$	96.47
Vested	(367,597)	$	38.57
Cancellations/expirations	(101,045)	$	47.87
Unvested as of December 31, 2021	885,612	$	61.73

INCOME TAXES (NARRATIVE) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement Narrative [Line Items]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	21.00%	21.00%
Effective income tax rate	21.00%	21.00%	21.00%
Deferred Tax Assets, Net	$ 51,784	$ 57,332
Valuation allowances	29,620	18,697	$ 17,051	$ 10,867
Estimated amount of foreign earnings to be invested outside United States	$ 264,000
Income Tax Holidays Description	The Company has been granted “Tax Holidays” as an incentive to attract foreign investment by the governments of the Philippines and Costa Rica. Generally, a Tax Holiday is an agreement between the Company and a foreign government under which the Company receives certain tax benefits in that country, such as exemption from taxation on profits derived from export-related activities. In the Philippines, the Company has been granted multiple agreements, with an initial period of tax at 0% for four years, which will be fully expired in 2022 and additional periods at a reduced tax rate, expiring at various times beginning in 2030.
Aggregate Effect on Income Tax Expense for Income Tax Holiday Jurisdictions	$ 6,300	$ 4,400	$ 8,400
Diluted Net Income Per Share Effect For Income Tax Holiday Jurisdictions	$ 0.13	$ 0.09	$ 0.18
Total Interest and Penalties Accrued Related to Uncertain Tax Positions Recorded in Balance Sheets	$ 2,800	$ 3,000	$ 2,100
Reserve for Uncertain Tax Benefits, Net	6,900	$ 7,500
Decrease of Unrecognized Tax Benefits over Next 12 Months	9,800
Decrease in Unrecognized Tax Benefits is Reasonably Possible	1,900
United States [Member]
Income Statement Narrative [Line Items]
Deferred Tax Assets, Net	6,900
Net Change in Valuation Allowance	$ 4,000
Income Tax Examination Years Under Audit	2017 and 2018
California
Income Statement Narrative [Line Items]
Income Tax Examination Years Under Audit	2017 and 2018
FLORIDA \| Settlement with Taxing Authority [Member]
Income Statement Narrative [Line Items]
Income Tax Examination Years Under Audit	2017 through 2019
Foreign Jurisdictions [Member]
Income Statement Narrative [Line Items]
Deferred Tax Liabilities, Net	$ 1,200
Canada Turkey UK and Various Jurisdictions [Member] \| Not Realizable Standard [Member]
Income Statement Narrative [Line Items]
Net Change in Valuation Allowance	(3,700)
Mexico Netherlands Canada and Various Jurisdictions [Member] \| Not Realizable Standard [Member]
Income Statement Narrative [Line Items]
Net Change in Valuation Allowance	$ 10,600
Philippines [Member]
Income Statement Narrative [Line Items]
Income Tax Examination Years Under Audit	2017 and 2018
Philippines and Costa Rica [Member]
Income Statement Narrative [Line Items]
Income Tax Holiday Termination Date	2030
India [Member]
Income Statement Narrative [Line Items]
Income Tax Examination Years Under Audit	2017 through 2019

Consolidated Statement of Stockholders' Equity and Mezzanine Equity - USD ($) $ in Thousands	Stockholders' Equity of the Company Common Stock [Member]	Stockholders' Equity of the Company Treasury Stock [Member]	Stockholders' Equity of the Company Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss)	Stockholders' Equity of the Company Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Stockholders' Equity of the Company Retained Earnings [Member]	Noncontrolling Interest [Member]	Cumulative Effect, Period of Adoption, Adjustment	Total
Common stock beginning balance, share at Dec. 31, 2018	46,195,000
Beginning balance, value at Dec. 31, 2018	$ 462	$ (610,177)	$ 353,932	$ (124,596)		$ 725,551	$ 7,677		$ 352,849
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)						77,164	6,969		84,133
Dividends to shareholders						(28,739)			(28,739)
Capital contribution from noncontrolling interest							3,362		3,362
Dividends distributed to noncontrolling interest							(4,950)		(4,950)
Foreign currency translation adjustments				6,688			128		6,816
Derivatives valuation, net of tax				12,460					12,460
Vesting of restricted stock units, share	294,000
Vesting of restricted stock units, value	$ 3	4,863	(10,337)						(5,471)
Equity-based compensation expense			12,814						12,814
Other, net of tax.				(786)					(786)
Common stock ending balance, share at Dec. 31, 2019	46,489,000
Ending balance, value at Dec. 31, 2019	$ 465	(605,314)	356,409	(106,234)	$ (758)	773,218	13,186	$ (758)	431,730
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income									601
Acquisition of noncontrolling interest									48,322
Temporary Equity, Ending Balance at Dec. 31, 2019									48,923
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)						118,648	8,156		126,804
Dividends to shareholders						(134,554)			(134,554)
Dividends distributed to noncontrolling interest							(8,478)		(8,478)
Foreign currency translation adjustments				29,341			196		29,537
Derivatives valuation, net of tax				4,249					4,249
Vesting of restricted stock units, share	248,000
Vesting of restricted stock units, value	$ 2	4,100	(8,623)						(4,521)
Equity-based compensation expense			12,507						12,507
Other, net of tax.				488					$ 488
Preferred stock ending balance, share at Dec. 31, 2020									0
Common stock ending balance, share at Dec. 31, 2020	46,737,000								46,737,033
Ending balance, value at Dec. 31, 2020	$ 467	(601,214)	360,293	(72,156)		757,312	13,060		$ 457,762
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income									2,527
Acquisition of noncontrolling interest									3,849
Temporary equity distributions.									(2,323)
Temporary Equity, Ending Balance at Dec. 31, 2020									52,976
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)						140,970	12,210		153,180
Dividends to shareholders						(42,217)			(42,217)
Dividends distributed to noncontrolling interest							(9,315)		(9,315)
Foreign currency translation adjustments				(17,408)			(143)		(17,551)
Derivatives valuation, net of tax				(8,471)					(8,471)
Vesting of restricted stock units, share	253,000
Vesting of restricted stock units, value	$ 3	4,183	(15,583)						(11,397)
Equity-based compensation expense			16,425						16,425
Other, net of tax.				(391)					$ (391)
Preferred stock ending balance, share at Dec. 31, 2021									0
Common stock ending balance, share at Dec. 31, 2021	46,990,000								46,990,031
Ending balance, value at Dec. 31, 2021	$ 470	$ (597,031)	$ 361,135	$ (98,426)		$ 856,065	$ 15,812		$ 538,025
Increase (Decrease) in Temporary Equity [Roll Forward]
Temporary Equity, Net Income									5,009
Temporary equity distributions.									(1,669)
Temporary Equity, Ending Balance at Dec. 31, 2021									$ 56,316

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS (Tables)

12 Months Ended

Dec. 31, 2021

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS [Abstract]

Schedule of Accounts Receivable

Accounts receivable, net in the accompanying Consolidated Balance Sheets consists of the following (in thousands):


	December 31,
	2021		2020
Accounts receivable	$	362,719	$	383,464
Less: Allowance for credit losses		(5,409)		(5,067)
Accounts receivable, net	$	357,310	$	378,397

Schedule of Change in Allowance for Doubtful Accounts

Activity in the Company’s Allowance for credit losses consists of the following (in thousands):


	December 31,
	2021		2020		2019
Balance, beginning of year	$	5,067	$	5,452	$	5,592
Provision for credit losses		(350)		494		1,711
Uncollectible receivables written-off		(281)		(880)		(1,311)
Effect of foreign currency and other		(15)		1		(540)
Acquisition		988		—		—
Balance, end of year	$	5,409	$	5,067	$	5,452

Schedule of Revenue from Significant Clients


	Year Ended December 31,
	2021		2020		2019

Financial services client	12	%	13	%	3	%

Schedule of Accounts Receivable Outstanding from Significant Clients

Accounts receivable from this client was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019

Financial services client	$	15,483	$	58,960	$	4,321

ACCOUNTS RECEIVABLE (SCHEDULE OF ACCOUNTS RECEIVABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS [Abstract]
Accounts receivable	$ 362,719	$ 383,464
Less: Allowance for credit losses	(5,409)	(5,067)	$ (5,452)	$ (5,592)
Accounts Receivable, Net, Current, Total	$ 357,310	$ 378,397

EMPLOYEE COMPENSATION PLANS

12 Months Ended

Dec. 31, 2021

EMPLOYEE COMPENSATION PLANS [Abstract]

EMPLOYEE COMPENSATION PLANS

(19)EMPLOYEE COMPENSATION PLANS

Employee Benefit Plan

The Company currently has a 401(k) profit-sharing plan that allows participation by U.S. employees who have completed six months of service, as defined, and are 21 years of age or older. Participants may defer up to 75% of their gross pay, up to a maximum limit determined by U.S. federal law. Participants are also eligible for a matching contribution. The Company may from time to time, at its discretion, make a “matching contribution” based on the amount and rate of the elective deferrals. The Company determines how much, if any, it will contribute for each dollar of elective deferrals. Participants vest in matching contributions over a three-year period. Company matching contributions to the 401(k) plan(s) totaled $10.8 million, $4.2 million and $6.7 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Equity Compensation Plans

In February 2020, the Company adopted the TTEC Holdings, Inc., 2020 Equity Incentive Plan (the “2020 Plan”), which permits awards of incentive stock options, non-qualified stock options, stock appreciation rights, shares of restricted common stock, performance stock units and restricted stock units. The 2020 Plan will also provide for annual equity-based compensation grants to members of the Company’s Board of Directors. Options granted to employees under the 2020 Plan generally vest over three to five years and have a contractual life of ten years. Options issued to Directors vest over one year and have a contractual life of ten years. At the 2020 Annual Stockholder Meeting, the Company received shareholder approval for the 2020 Plan, including 4.0 million shares of common stock to be reserved for issuance under the Plan.

For the years ended December 31, 2021, 2020, and 2019, the Company recorded total equity-based compensation expense under all equity-based arrangements (stock options and RSUs) of $16.4 million, $12.5 million and $12.8 million, respectively. For 2021, 2020 and 2019, of the total compensation expense, $6.1 million, $4.3 million and $4.7 million was recognized in Cost of services and $10.3 million, $8.2 million and $8.1 million, was recognized in Selling, general and administrative in the Consolidated Statements of Comprehensive Income (Loss), respectively. For the years ended December 31, 2021, 2020, and 2019, the Company recognized a tax benefit under all equity-based arrangements (stock options and RSUs) of $8.7 million, $3.5 million and $4.2 million, respectively.

Restricted Stock Units

2019, 2020 and 2021 RSU Awards: The Company granted RSUs in 2019, 2020 and 2021 to new and existing employees that vest over four or five years. The Company also granted RSUs in 2019, 2020 and 2021 to members of the Board of Directors that vest over one year.

Summary of RSUs: Settlement of the RSUs shall be made in shares of the Company’s common stock by delivery of one share of common stock for each RSU then being settled. The Company calculates the fair value for RSUs based on the closing price of the Company’s stock on the date of grant and records compensation expense over the vesting period using a straight-line method. The Company factors an estimated forfeiture rate in calculating compensation expense on RSUs and adjusts for actual forfeitures upon the vesting of each tranche of RSUs. The Company also factors in the present value of the estimated dividend payments that will have accrued as these RSUs are vesting.

The weighted average grant-date fair value of RSUs, including performance-based RSUs, granted during the years ended December 31, 2021, 2020, and 2019 was $96.47, $44.70, and $40.10, respectively. The total intrinsic value and fair value of RSUs vested during the years ended December 31, 2021, 2020, and 2019 was $14.2 million, $11.5 million, and $12.5 million, respectively.

Performance Based Restricted Stock Unit Grants

During 2019, the Company awarded performance restricted stock units (“PRSUs”) that are subject to service and performance vesting conditions. If defined minimum targets are met, the annual value of the PRSUs issued will be between $0.4 million and $1.4 million and vest immediately. If the defined minimum targets are not met, then no shares will be issued. The award amounts are based on the Company’s annual adjusted operating income for the fiscal years 2019, 2020 and 2021. Each fiscal year’s adjusted operating income will determine the award amount. The Company recognized compensation expense related to PRSUs of $1.1 million and $1.1 million for the years ended December 31, 2021 and 2020, respectively.

During 2020, the Company awarded PRSUs that are subject to service and performance vesting conditions. If defined minimum targets are met, the annual value of the PRSUs issued will be between $0.2 million and $2.0 million and vest immediately. If the defined minimum targets are not met, then no shares will be issued. The number of shares awarded are based on the Company’s annual revenue and adjusted operating income for the fiscal years 2021 and 2022. Each fiscal year’s revenue and adjusted operating income will determine the award amount. The Company recognized compensation expense related to PRSUs of $1.6 million for the year ended December 31, 2021.

During 2021, the Company awarded PRSUs that are subject to service and performance vesting conditions. If defined minimum targets are met, the annual value of the PRSUs issued will be between $1.2 million and $4.9 million and vest immediately. If the defined minimum targets are not met, then no shares will be issued. The number of shares awarded are based on the Company's annual revenue and adjusted operating income for the fiscal year 2023. Fiscal year's 2023 revenue and adjusted operating income will determine the award amount. Expense for these awards will begin at the start of the requisite service period, beginning January 1, 2023.

A summary of the status of the Company’s non-vested RSUs and performance-based RSUs and activity for the year ended December 31, 2021 is as follows:


		Weighted
		Average
		Grant Date
	Shares	Fair Value

Unvested as of December 31, 2020	1,029,176	$	41.12
Granted	325,078	$	96.47
Vested	(367,597)	$	38.57
Cancellations/expirations	(101,045)	$	47.87
Unvested as of December 31, 2021	885,612	$	61.73

All RSUs vested during the year ended December 31, 2021 were issued out of treasury stock. As of December 31, 2021, there was approximately $37.3 million of total unrecognized compensation expense and approximately $80.2 million in total intrinsic value related to non-vested RSU grants. The unrecognized compensation expense will be recognized over the remaining weighted-average vesting period of 1.6 years using the straight-line method.

LEASES

12 Months Ended

Dec. 31, 2021

LEASES [ABSTRACT]

Leases

(15)LEASES

Operating leases are included in our Consolidated Balance Sheet as Operating lease assets, Current operating lease liabilities and Non-current operating lease liabilities. Finance leases are included in Property, plant and equipment, Other current liabilities and Other long-term liabilities in our Consolidated Balance Sheet. The Company primarily leases real estate and equipment under various arrangements that provide the Company the right-of-use for the underlying asset that require lease payments over the lease term. The Company determines the value of each lease by computing the present value of each lease payment using the interest rate implicit in the lease, if available; otherwise the Company estimates its incremental borrowing rate over the lease term. The Company determines its incremental borrowing rate based on its estimated credit risk with adjustments for each individual leases’ geographical risk and lease term. Operating lease assets also include prepaid rent and initial direct costs less any tenant improvements.

The Company’s real estate portfolio typically includes one or more options to renew, with renewal terms that generally can extend the lease term from one to 10 years. The exercise of these lease renewal options is at the Company’s discretion and is included in the lease term only if the Company is reasonably certain to exercise. The Company also has service arrangements whereby it controls specific space provided by a third-party service provider. These arrangements meet the definition of a lease and are accounted for under ASC 842. Lease expense for operating leases is recognized on a straight-line basis over the lease term and is included in the Consolidated Statements of Comprehensive Income (Loss). The Company’s lease agreements do not contain any material residual value guarantees or restrictive guarantees.

The components of lease expense for the years ended December 31, 2021 and 2020 are as follows (in thousands):


	Location in Statements of	Year Ended December 31,
Description	Comprehensive Income (Loss)	2021		2020
Amortization of ROU assets - finance leases	Depreciation and amortization	$	6,674	$	7,661
Interest on lease liabilities - finance leases	Interest expense		136		203
Operating lease cost (cost resulting from lease payments)	Cost of services		39,087		46,375
Operating lease cost (cost resulting from lease payments)	Selling, general and administrative		2,770		2,040
Operating lease cost (cost resulting from lease payments)	Restructuring		1,614		1,232
Operating lease cost	Impairment		5,338		5,127
Operating lease cost (cost resulting from lease payments)	Other income (expense), net		1,240		1,149
Short-term lease cost	Cost of services		4,529		3,888
Variable lease cost (cost excluded from lease payments	Cost of services		1,246		(287)
Less: Sublease income	Selling, general and administrative		(807)		(836)
Less: Sublease income	Other income (expense), net		(2,584)		(2,464)
Total lease cost		$	59,243	$	64,088

Other supplementary information for the years ended December 31, 2021 and 2020 are as follows (dollar values in thousands):


	Year Ended December 31,
	2021		2020
Finance lease - operating cash flows	$	45	$	68
Finance lease - financing cash flows	$	6,385	$	7,911
Operating lease - operating cash flows (fixed payments)	$	52,358	$	55,862
New ROU assets - operating leases	$	15,280	$	6,834
Modified ROU assets - operating leases	$	736	$	6,485
New ROU assets - finance leases	$	1,141	$	2,292


	December 31, 2021		December 31, 2020
Weighted average remaining lease term - finance leases		2.34 years	2.46 years
Weighted average remaining lease term - operating leases		3.32 years	3.73 years
Weighted average discount rate - finance leases		1.85%	1.64%
Weighted average discount rate - operating leases		5.38%	6.95%

Operating and financing lease right-of-use assets and lease liabilities within our Consolidated Balance Sheet as of December 31, 2021 and 2020 are as follows (in thousands):


Description	Location in Balance Sheet	December 31, 2021		December 31, 2020
Assets
Operating lease assets	Operating lease assets	$	90,180	$	120,820
Finance lease assets	Property, plant and equipment, net		7,119		12,659
Total leased assets		$	97,299	$	133,479

Liabilities
Current
Operating	Current operating lease liabilities	$	44,460	$	43,651
Finance	Other current liabilities		3,001		6,193
Non-current
Operating	Non-current operating lease liabilities		64,419		98,277
Finance	Other long-term liabilities		2,866		4,763
Total lease liabilities		$	114,746	$	152,884

The future minimum operating lease and finance lease payments required under non-cancelable leases as of December 31, 2021 and 2020 are as follows (in thousands):

December 31, 2021


	Operating		Sub-lease		Finance
	Leases		Income		Leases
Year 1	$	48,559	$	(3,465)	$	3,026
Year 2		32,054		(3,112)		1,921
Year 3		18,862		(2,905)		870
Year 4		10,162		(2,940)		164
Year 5		3,508		(490)		—
Thereafter		6,759		—		—
Total minimum lease payments	$	119,904	$	(12,912)	$	5,981
Less imputed interest		(11,025)				(114)
Total lease liability	$	108,879			$	5,867

December 31, 2020


	Operating		Sub-lease		Finance
	Leases		Income		Leases
Year 1	$	51,120	$	(3,500)	$	6,237
Year 2		46,913		(3,489)		2,740
Year 3		31,085		(3,123)		1,631
Year 4		17,338		(2,905)		579
Year 5		8,288		(2,940)		—
Thereafter		8,397		(490)		—
Total minimum lease payments	$	163,141	$	(16,447)	$	11,187
Less imputed interest		(21,213)				(231)
Total lease liability	$	141,928			$	10,956

In 2008, the Company sub-leased one of its customer engagement centers to a third party for the remaining term of the lease. The sub-lease began on January 1, 2009 and rental income is recognized on a straight-line basis over the term of the sub-lease through 2026. In 2017, the Company sub-leased one of its office spaces for the remaining term of the original lease. The sub-lease began on November 6, 2017 and ended on May 31, 2021. In 2019, the Company sub-leased one of its office spaces for the remaining term of the original lease. The sub-lease began on March 1, 2019 and ends July 21, 2023. In 2020, the Company sub-leased one of its office spaces for the remaining term of the original lease. The sub-lease began on February 6, 2020 and ends on June 14, 2023.

INCOME TAXES (JURISDICTIONS OPEN TO TAX EXAMINATIONS TABLE) (Details)	12 Months Ended
	Dec. 31, 2021
United States [Member]
Income Tax Examination [Line Items]
Tax Years Ended	2017 to Present
Australia [Member]
Income Tax Examination [Line Items]
Tax Years Ended	2017 to Present
India [Member]
Income Tax Examination [Line Items]
Tax Years Ended	2017 to Present
Canada [Member]
Income Tax Examination [Line Items]
Tax Years Ended	2017 to Present
Mexico [Member]
Income Tax Examination [Line Items]
Tax Years Ended	2016 to Present
Philippines [Member]
Income Tax Examination [Line Items]
Tax Years Ended	2018 to Present

OTHER LONG-TERM LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2021

Other Liabilities, Noncurrent [Abstract]

Other Noncurrent Liabilities [Table Text Block]

The components of Other long-term liabilities as of December 31, 2021 and 2020 are as follows (in thousands):


	December 31, 2021		December 31, 2020

Deferred revenue	$	17,078	$	17,434
Deferred compensation plan		30,012		23,858
Deferred social security taxes		—		15,986
Other		32,737		38,907
Total	$	79,827	$	96,185

OTHER INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2021

OTHER INTANGIBLE ASSETS [Abstract]

Schedule of Intangible Assets (Excluding Goodwill)

Other intangible assets which are included in Other long-term assets in the accompanying Consolidated Balance Sheets consisted of the following (in thousands):


							Acquisitions		Effect of
	December 31,						and		Foreign		December 31,
	2020		Amortization		Impairments		Adjustments		Currency		2021
Customer relationships, gross	$	173,601	$	—	$	—	$	128,186	$	(1,839)	$	299,948
Customer relationships - accumulated amortization		(68,769)		(25,440)		(671)		—		1,298		(93,582)
Other intangible assets, gross		14,450		—		—		5,300		(19)		19,731
Other intangible assets - accumulated amortization		(7,223)		(6,529)		—		—		4		(13,748)
Other intangible assets, net	$	112,059	$	(31,969)	$	(671)	$	133,486	$	(556)	$	212,349


							Acquisitions		Effect of
	December 31,						and		Foreign		December 31,
	2019		Amortization		Impairments		Adjustments		Currency		2020
Customer relationships, gross	$	161,756	$	—	$	—	$	11,570	$	275	$	173,601
Customer relationships - accumulated amortization		(54,653)		(13,640)		—		—		(476)		(68,769)
Other intangible assets, gross		13,162		—		—		1,250		38		14,450
Other intangible assets - accumulated amortization		(4,669)		(2,546)		—		—		(8)		(7,223)
Other intangible assets, net	$	115,596	$	(16,186)	$	—	$	12,820	$	(171)	$	112,059

Future Amortization Expense of Finite Lived Intangible Assets

Expected future amortization of other intangible assets as of December 31, 2021 is as follows (in thousands):


2022	$	31,147
2023		29,935
2024		27,358
2025		25,324
2026		25,264
Thereafter		73,321
Total	$	212,349

RESTRUCTURING CHARGES AND IMPAIRMENT LOSSES (LIABILITY ROLLFORWARD TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Beginning balance, restructuring reserve	$ 699	$ 325
Expense	3,891	3,264
Payments	(3,182)	(2,796)
Changes due to foreign currency	(5)	(16)
Change in estimates	(84)	78
Ending balance, restructuring reserve	1,319	699
Reduction in Force [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance, restructuring reserve	156	251
Expense	1,252	1,064
Payments	(510)	(1,067)
Changes due to foreign currency	(6)	(14)
Change in estimates	(84)	78
Ending balance, restructuring reserve	808	156
Closure of Delivery Centers [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance, restructuring reserve	543	74
Expense	2,639	2,200
Payments	(2,672)	(1,729)
Changes due to foreign currency	1	(2)
Ending balance, restructuring reserve	$ 511	$ 543

RESTRUCTURING CHARGES, INTEGRATION CHARGES AND IMPAIRMENT LOSSES

12 Months Ended

Dec. 31, 2021

RESTRUCTURING CHARGES AND IMPAIRMENT LOSSES [Abstract]

RESTRUCTURING CHARGES AND IMPAIRMENT LOSSES

(11)RESTRUCTURING CHARGES AND IMPAIRMENT LOSSES

Restructuring Charges

During the years ended December 31, 2021, 2020 and 2019, the Company continued restructuring activities primarily associated with reductions in the Company’s capacity, workforce and related management in both segments to better align the capacity and workforce with current business needs. During 2021 and 2020, TTEC determined it would close several delivery centers servicing the Engage segment and the expenses related to early termination fees and cease use lease accruals were recorded. These expenses are included in the Restructuring charges, net in the Consolidated Statements of Comprehensive Income (Loss).

A summary of the expenses recorded in Restructuring charges, net in the accompanying Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2021, 2020 and 2019, respectively, is as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Reduction in force
TTEC Digital	$	858	$	668	$	141
TTEC Engage		310		396		894
Total	$	1,168	$	1,064	$	1,035


	Year Ended December 31,
	2021		2020		2019
Facility exit and other charges
TTEC Digital	$	10	$	90	$	41
TTEC Engage		2,629		2,110		671
Total	$	2,639	$	2,200	$	712

A rollforward of the activity in the Company’s restructuring accruals for the years ended December 31, 2021 and 2020, respectively, is as follows (in thousands):


	Reduction		Facility Exit and
	in Force		Other Charges		Total

Balance as of December 31, 2019	$	251	$	74	$	325
Expense		1,064		2,200		3,264
Payments		(1,067)		(1,729)		(2,796)
Changes due to foreign currency		(14)		(2)		(16)
Changes in estimates		(78)		—		(78)
Balance as of December 31, 2020		156		543		699
Expense		1,252		2,639		3,891
Payments		(510)		(2,672)		(3,182)
Changes due to foreign currency		(6)		1		(5)
Changes in estimates		(84)		—		(84)
Balance as of December 31, 2021	$	808	$	511	$	1,319

The remaining restructuring and other accruals are expected to be paid or extinguished during 2022 and are all classified as current liabilities within Other accrued expenses in the Consolidated Balance Sheets.

Severance Charges

In the normal course of business, the Company will pay severance to terminated employees related to programs that are ending when such employees are no longer needed and cannot be repurposed to a new program.

During the second quarter of 2020, a $3.0 million accrual was recorded with the expense included in Cost of services during the quarter ended June 30, 2020. During the third and fourth quarters of 2020, a total of $1.6 million was paid and a $0.3 million reduction in expense was recorded. During the year of 2021, a total of $0.4 million was paid and a $0.7 million reduction in expense was recorded and the accrual is zero as of December 31, 2021.

Impairment Losses

During each of the periods presented, the Company evaluated the recoverability of its leasehold improvement assets at certain customer engagement centers. An asset is considered to be impaired when the anticipated undiscounted future cash flows of its asset group are estimated to be less than the asset group’s carrying value. The amount of impairment recognized is the difference between the carrying value of the asset group and its fair value. To determine fair value, the Company used Level 3 inputs in its discounted cash flows analysis. Assumptions included the amount and timing of estimated future cash flows and assumed discount rates. During 2021, 2020 and 2019, the Company recognized impairment losses, net related to leasehold improvement assets and right of use lease assets of $7.4 million, $5.8 million and $2.7 million, respectively, across the TTEC Digital and TTEC Engage segments.

EMPLOYEE COMPENSATION PLANS (NARRATIVE) (Details) - USD ($) $ / shares in Units, $ in Thousands, shares in Millions	1 Months Ended	12 Months Ended
	Feb. 29, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent		75.00%
Company Match on US Defined Contribution Plans		$ 10,800	$ 4,200	$ 6,700
Share-based Compensation Award Vesting Period		1 year
Equity-based compensation expense		$ 16,425	12,507	12,814
Total Tax Benefit Recognized for Equity-Based Compensation Expense		$ 8,700	3,500	4,200
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value		$ 96.47
Intrinsic Value of Non-Vested RSUs		$ 80,200
2019 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Description		During 2019, the Company awarded performance restricted stock units (“PRSUs”) that are subject to service and performance vesting conditions. If defined minimum targets are met, the annual value of the PRSUs issued will be between $0.4 million and $1.4 million and vest immediately. If the defined minimum targets are not met, then no shares will be issued. The award amounts are based on the Company’s annual adjusted operating income for the fiscal years 2019, 2020 and 2021. Each fiscal year’s adjusted operating income will determine the award amount.
2021 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Description		During 2021, the Company awarded PRSUs that are subject to service and performance vesting conditions. If defined minimum targets are met, the annual value of the PRSUs issued will be between $1.2 million and $4.9 million and vest immediately. If the defined minimum targets are not met, then no shares will be issued. The number of shares awarded are based on the Company's annual revenue and adjusted operating income for the fiscal year 2023. Fiscal year's 2023 revenue and adjusted operating income will determine the award amount. Expense for these awards will begin at the start of the requisite service period, beginning January 1, 2023.
2020 Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Shares Available for Issuance under Current Equity Compensation Plan	4.0
Cost of Services
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense		$ 6,100	4,300	4,700
Selling General And Administrative Expenses [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense		10,300	$ 8,200	$ 8,100
Minimum \| 2020 Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Award Vesting Period	3 years
Maximum \| 2020 Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Award Vesting Period	5 years
Restricted Stock Units (RSUs) [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Unrecognized Compensation Expense		$ 37,300
Requisite Service Period		1 year 7 months 6 days
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value		$ 96.47	$ 44.70	$ 40.10
Intrinsic Value of RSUs Vested		$ 14,200	$ 11,500	$ 12,500
Performance Shares [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense		$ 1,100	1,100
Performance Shares [Member] \| 2020 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Description		During 2020, the Company awarded PRSUs that are subject to service and performance vesting conditions. If defined minimum targets are met, the annual value of the PRSUs issued will be between $0.2 million and $2.0 million and vest immediately. If the defined minimum targets are not met, then no shares will be issued. The number of shares awarded are based on the Company’s annual revenue and adjusted operating income for the fiscal years 2021 and 2022. Each fiscal year’s revenue and adjusted operating income will determine the award amount. The Company recognized compensation expense related to PRSUs of $1.6 million for the year ended December 31, 2021.
Performance Shares [Member] \| Minimum \| 2019 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense				400
Performance Shares [Member] \| Minimum \| 2020 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense			200
Performance Shares [Member] \| Minimum \| 2021 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense		$ 1,200
Performance Shares [Member] \| Maximum \| 2019 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense				$ 1,400
Performance Shares [Member] \| Maximum \| 2020 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense			$ 2,000
Performance Shares [Member] \| Maximum \| 2021 PRSUs [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]
Equity-based compensation expense		$ 4,900

Receivables Sales Agreement - Additional Information (Narrative) (Detail) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Receivables Sales Agreement [Line Items]
Factored Accounts Receivable, net	$ 97.7	$ 71.0
Cash from customers not yet remitted	22.5	$ 26.1
Proceeds from factored receivables	100.0
Maximum
Receivables Sales Agreement [Line Items]
Proceeds from factored receivables	$ 100.0

OVERVIEW AND BASIS OF PRESENTATION

12 Months Ended

Dec. 31, 2021

OVERVIEW AND BASIS OF PRESENTATION [Abstract]

OVERVIEW AND BASIS OF PRESENTATION

(1)OVERVIEW AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Overview

TTEC Holdings, Inc. (“TTEC”, “the Company”; pronounced “T-TEC”) is a leading global customer experience as a service (“CXaaS”) partner for many of the world’s most iconic and disruptive brands. TTEC designs, builds, orchestrates, and delivers seamless digitally enabled customer experiences that are designed to increase brand value, customer loyalty, revenue and profitability through personalized, outcome-based interactions. The Company helps clients improve their customer satisfaction while lowering their total cost to service by combining innovative digital solutions with service capabilities that deliver a frictionless customer experience (“CX”) across different channels and phases of the customer lifecycle. TTEC’s 65,000 employees serve clients in the automotive, communication, financial services, national/federal and state and local governments, healthcare, logistics, media and entertainment, e-tail/retail, technology, travel and transportation industries via operations in the United States, Australia, Belgium, Brazil, Bulgaria, Canada, Costa Rica, Germany, Greece, India, Ireland, Mexico, the Netherlands, New Zealand, the Philippines, Poland, Singapore, South Africa, Thailand, and the United Kingdom.

The Company operates and reports its financial results of operation through two business segments: TTEC Digital and TTEC Engage.

●

TTEC Digital is one of the largest pure-play CX technology service providers with expertise in CX strategy, digital consulting, and transformation enabled by proprietary CX applications and technology partnerships. TTEC Digital designs, builds, and operates robust digital experiences for clients and their customers through the contextual integration and orchestration of customer relationship management (“CRM”), data, analytics, CXaaS technology, and intelligent automation to ensure high-quality, scalable CX outcomes.

●

TTEC Engage provides the digitally enabled CX managed services to support our clients’ end-to-end customer interaction delivery at scale. The segment delivers omnichannel customer care, tech support, order fulfillment, customer acquisition, growth, and retention services with industry specialization and distinctive CX capabilities for hypergrowth brands. TTEC Engage also delivers digitally enabled back office and industry specific specialty services including artificial intelligence (“AI”) operations, content moderation, and fraud management services.

TTEC Digital and TTEC Engage strategically come together under our unified offering, Humanify^® CXaaS, which drives measurable customer results for clients through the delivery of personalized, omnichannel experiences. Our Humanify^® cloud platform provides a fully integrated ecosystem of CX offerings, including messaging, AI, ML, RPA, analytics, cybersecurity, CRM, knowledge management, journey orchestration, and traditional voice solutions. Our end-to-end CXaaS platform differentiates us from competitors by combining design, strategic consulting, technology, data analytics, process optimization, system integration, and operational excellence along with our decades of industry know-how. This unified offering is value-oriented, outcome-based and delivered to large enterprises, governments, and hypergrowth companies on a global scale.

Basis of Presentation

The Consolidated Financial Statements are comprised of the accounts of TTEC, its wholly owned subsidiaries, its 55% equity owned subsidiary Percepta, LLC, its 70% equity owned subsidiary First Call Resolution, LLC and its 70% equity owned subsidiary Serendebyte, Inc. (see Note 2). All intercompany balances and transactions have been eliminated in consolidation.

Use of Estimates

The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the U.S. (“GAAP”) requires management to make estimates and assumptions in determining the reported amounts of assets and liabilities, disclosure of contingent liabilities at the date of the Consolidated Financial Statements and the reported amounts of revenue and expenses during the reporting period. On an on-going basis, the Company evaluates its estimates including those related to derivatives and hedging activities, income taxes including the valuation allowance for deferred tax assets, litigation reserves, restructuring reserves, allowance for credit losses, contingent consideration, redeemable noncontrolling interest, and valuation of goodwill, long-lived and intangible assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities. Actual results may differ materially from these estimates under different assumptions or conditions.

Concentration of Credit Risk

The Company is exposed to credit risk in the normal course of business, primarily related to accounts receivable and derivative instruments. Historically, the losses related to credit risk have been immaterial. The Company regularly monitors its credit risk to mitigate the possibility of current and future exposures resulting in a loss. The Company evaluates the creditworthiness of its clients prior to entering into an agreement to provide services and as necessary through the life of the client relationship. The Company does not believe it is exposed to more than a nominal amount of credit risk in its derivative hedging activities, as the Company diversifies its activities across eight investment-grade financial institutions.

Fair Value of Financial Instruments

Fair values of cash equivalents, accounts receivable, accounts payable and debt approximate the carrying amounts because of their short-term nature.

Cash, Cash Equivalents and Restricted Cash

Cash and cash equivalents consist of cash, primarily held in interest-bearing investments, and liquid short-term investments, which have original maturities of less than 90 days. Restricted cash includes cash whereby the Company’s ability to use the funds at any time is contractually limited or is generally designated for specific purposes arising out of certain contractual or other obligations.

The Company manages a centralized global treasury function in the United States with a focus on safeguarding and optimizing the use of its global cash and cash equivalents. The Company’s cash is held in the U.S. in U.S. dollars and outside of the U.S. in U.S. dollars and foreign currencies. The Company believes that it has effectively mitigated and managed its risk relating to its global cash through its cash management practices, banking partners, and utilization of diversified bank deposit accounts and high quality investments. However, the Company can provide no assurances that it will not sustain losses.

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the Consolidated Balance Sheets that sum to the amounts reported in the Consolidated Statement of Cash Flows (in thousands):


	December 31, 2021		December 31, 2020		December 31, 2019

Cash and cash equivalents	$	158,205	$	132,914	$	82,407
Restricted cash included in "Prepaid and other current assets"		22,477		26,101		23,172
Restricted cash included in "Other noncurrent assets"		—		—		12
Total	$	180,682	$	159,015	$	105,591

Accounts Receivable

At the end of each quarter an allowance for credit losses will be calculated based on the current quarterly revenue multiplied by the historical loss percentage of the prior three-year period and recorded in the income statement. In addition to the evaluation of historical losses, the Company considers current and future economic conditions and events such as changes in customer credit quality and liquidity. The Company will write-off accounts receivable against this allowance when the Company determines a balance is uncollectible.

Derivatives

The Company enters into foreign exchange forward and option contracts to reduce its exposure to foreign currency exchange rate fluctuations that are associated with forecasted revenue earned in foreign locations. The Company also enters into interest rate derivatives which consist of interest rate swaps to reduce the Company’s exposure to interest rate fluctuations associated with its variable rate debt. Upon proper qualification, these contracts are designated as cash flow hedges. The Company formally documents at the inception of the hedge all relationships between hedging instruments and hedged items as well as its risk management objective and strategy for undertaking various hedging activities.

All derivative financial instruments are reported at fair value and recorded in Prepaids and other current assets, Other long-term assets, Other current liabilities, and Other long-term liabilities in the accompanying Consolidated Balance Sheets as applicable for each period end. Changes in fair value of derivative instruments designated as cash flow hedges are recorded in Accumulated other comprehensive income (loss), a component of Stockholders’ Equity, to the extent they are deemed effective. Ineffectiveness is measured based on the change in fair value of the forward contracts and the fair value of the hypothetical derivatives with terms that match the critical terms of the risk being hedged. Based on the criteria established by current accounting standards, the Company’s cash flow hedge contracts are deemed to be highly effective. Any realized gains or losses resulting from the foreign currency cash flow hedges are recognized together with the hedged transaction within Revenue. Any realized gains or losses from the interest rate swaps are recognized in Interest expense. Gains and losses from the settlements of the Company’s net investment hedges remain in Accumulated other comprehensive income (loss) until partial or complete liquidation of the applicable net investment.

The Company also enters into fair value derivative contracts that hedge against foreign currency exchange gains and losses primarily associated with short-term payables and receivables. Changes in the fair value of derivative instruments designated as fair value hedges affect the carrying value of the asset or liability hedged, with changes in both the derivative instrument and the hedged asset or liability being recognized in Other income (expense), net in the accompanying Consolidated Statements of Comprehensive Income (Loss).

Property, Plant and Equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation and amortization. Maintenance, repairs and minor renewals are expensed as incurred.

Depreciation and amortization are computed on the straight-line method based on the following estimated useful lives:


Building		30 years
Computer equipment and software		3 to 7 years
Telephone equipment		4 to 7 years
Furniture and fixtures		5 years
Leasehold improvements		Lesser of economic useful life (typically 10 years) or original lease term
Other		3 to 7 years

The Company evaluates the carrying value of property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amounts may not be recoverable. An asset is considered to be impaired when the forecasted undiscounted cash flows of an asset group are estimated to be less than its carrying value. The amount of impairment recognized is the difference between the carrying value of the asset group and its fair value. Fair value estimates are based on assumptions concerning the amount and timing of forecasted future cash flows.

Software Development Costs

The Company capitalizes costs incurred to acquire or develop software for internal use. Capitalized software development costs are amortized using the straight-line method over the estimated useful life equal to the lesser of the license term or 4 or 7 years depending on the software type. Previously, the expense related to these assets has been classified as amortization expense within the income statement. Based on the new guidance adopted as of January 1, 2020, the amortization of any assets that are classified as cloud computing arrangements will be expensed and included in operating expenses within the income statement. The expense for the portion of the internally developed software incurred prior to January 1, 2020 and any assets that are not related to a cloud computing arrangement, will remain in amortization expense on a go-forward basis, as the Company adopted the new standard on a prospective basis.

Goodwill

The Company evaluates goodwill for possible impairment at least annually on December 1, and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company uses a two-step process to assess the realizability of goodwill. The first step, Step 0, is a qualitative assessment that analyzes current economic indicators associated with a particular reporting unit. For example, the Company analyzes changes in economic, market and industry conditions, business strategy, cost factors, and financial performance, among others, to determine if there would be a significant decline to the fair value of a particular reporting unit. A qualitative assessment also includes analyzing the excess fair value of a reporting unit over its carrying value from impairment assessments performed in previous years. If the qualitative assessment indicates a stable or improved fair value, no further testing is required.

If a qualitative assessment indicates that a significant decline to fair value of a reporting unit is more likely than not, or if a reporting unit’s fair value has historically been closer to its carrying value, the Company will proceed to Step 1 testing where the Company calculates the fair value of a reporting unit. If Step 1 indicates that the carrying value of a reporting unit is in excess of its fair value, the Company will record an impairment equal to the amount by which a reporting unit’s carrying value exceeds its fair value.

Other Intangible Assets

The Company has other intangible assets that include customer relationships (definite-lived), trade names (definite-lived) and non-compete agreements (definite-lived). Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives, which range from 1 to 12 years. The Company evaluates the carrying value of its definite-lived intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. A definite-lived intangible asset is considered to be impaired when the forecasted undiscounted cash flows of its asset group are estimated to be less than its carrying value.

The Company evaluates indefinite-lived intangible assets for possible impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Similar to goodwill, the Company may first use a qualitative analysis to assess the realizability of its indefinite-lived intangible assets. The qualitative analysis will include a review of changes in economic, market and industry conditions, business strategy, cost factors, and financial performance, among others, to determine if there would be a significant decline to the fair value of an indefinite-lived intangible asset. If a quantitative analysis is completed, an indefinite-lived intangible asset (i.e. trade name) is evaluated for possible impairment by comparing the fair value of the asset with its carrying value. Fair value is estimated as the discounted value of future revenues arising from a trade name using a royalty rate that a market participant would pay for use of that trade name. An impairment charge is recorded if the intangible asset’s carrying value exceeds its estimated fair value.

Restructuring Liabilities

The Company routinely assesses the profitability and utilization of its customer engagement centers and existing markets. In some cases, the Company has chosen to close under-performing customer engagement centers and complete reductions in workforce to enhance future profitability. Severance payments that occur from reductions in workforce are in accordance with the Company’s postemployment plans and/or statutory requirements that are communicated to all employees upon hire date; therefore, severance liabilities are recognized when they are determined to be probable and reasonably estimable. Other liabilities for costs associated with an exit or disposal activity are recognized when the liability is incurred, rather than upon commitment to a plan.

Income Taxes

Accounting for income taxes requires recognition of deferred tax assets and liabilities for the expected future income tax consequences of transactions that have been included in the Consolidated Financial Statements or tax returns. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Gross deferred tax assets may then be reduced by a valuation allowance for amounts that do not satisfy the realization criteria established by current accounting standards.

The Company accounts for uncertain tax positions using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to determine if the weight of available evidence indicates that it is more likely than not that the tax position will be sustained on audit. The second step is to estimate and measure the tax benefit as the amount that has a greater than 50% likelihood of being realized upon ultimate settlement with the tax authority. The Company evaluates these uncertain tax positions on a quarterly basis. This evaluation is based on the consideration of several factors including changes in facts or circumstances, changes in applicable tax law, and settlement of issues under audit. The Company recognizes interest and penalties related to uncertain tax positions as a part of the Provision for income taxes in the accompanying Consolidated Statements of Comprehensive Income (Loss).

No significant changes in indefinite reinvestment assertion were made during 2021. The Company has completed its analysis in regard to the full tax impact related to prior changes in indefinite reinvestment reassertion and any related taxes have been recorded. The Company generally intends to limit distributions from non-U.S. subsidiaries to cash balances available in foreign jurisdictions.

No additional income taxes have been provided for any remaining outside basis difference inherent in our foreign subsidiaries as these amounts continue to be indefinitely reinvested in foreign operations. Determination of any unrecognized deferred tax liability related to the outside basis difference in investments in foreign subsidiaries is not practicable due to the inherent complexity of the multi-national tax environment in which we operate.

Revenue Recognition

The Company recognizes revenue from contracts and programs when control of the promised goods or services is transferred to the customers, in an amount that reflects the consideration it expects to be entitled to in exchange for those goods or services. Revenue is recognized when or as performance obligations are satisfied by transferring control of a promised good or service to a customer. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. Performance obligation is the unit of accounting for revenue recognition under the provisions of ASC Topic 606, “Revenue from Contracts with Customers” and all related amendments (“ASC 606”). A contract’s transaction price is allocated to each distinct performance obligation in recognizing revenue.

The Business Process Outsourcing (“BPO”) inbound and outbound service fees are based on either a per minute, per hour, per FTE, per transaction or per call basis, which represents the majority of our contracts. These contracts have a single performance obligation as the promise to transfer the individual goods or services is not separately identifiable from other promises in the contracts and, therefore, not distinct. For example, services for the training of the Company’s agents (which are separately billable to the customer) are a separate promise in the BPO contracts, but they are not distinct from the primary service obligations to transfer services to the customers. The performance of the customer service by the agents is highly dependent on the initial, growth, and seasonal training services provided to the agents during the life of a program. The training itself is not considered to have value to the customer on a standalone basis, and therefore, training on a standalone basis cannot be considered a separate unit of accounting. The Company therefore defers revenue from certain training services that are rendered mainly upon commencement of a new client contract or program, including seasonal programs. Revenue is also deferred when there is significant growth training in an existing program. Accordingly, recognition of initial, growth, and seasonal training revenues and associated costs (consisting primarily of labor and related expenses) are deferred and amortized over the period of economic benefit. With the exception of training which is typically billed upfront and deferred, the remainder of revenue is invoiced on a monthly or quarterly basis as services are performed and does not create a contract asset or liability.

In addition to revenue from BPO services, revenue also consists of fees from services for program launch, professional consulting, fully-hosted or managed technology and learning innovation services. The contracts containing these service offerings may contain multiple performance obligations. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation using the best estimate of the standalone selling price of each distinct good or service in the contract. The primary method used to estimate standalone selling price is the expected cost plus a margin approach, under which the Company forecasts its expected costs of satisfying a performance obligation and then adds an appropriate margin for that distinct good or service. The Company forecasts its expected cost based on historical data, current prevailing wages, other direct and indirect costs incurred in recently completed contracts, market conditions, and other client specific cost considerations. For these services, the point at which the transfer of control occurs determines when revenue is recognized in a specific reporting period. Within our Digital segment, where there are product sales, the attribution of revenue is recognized when the transfer of control is completed and the products are delivered to the client’s location. Where services are rendered to a customer, the attribution is aligned with the progress of work and is recognized over time (i.e. based on measuring the progress toward complete satisfaction of a performance obligation using an output method or an input method). Where output method is used, revenue is recognized on the basis of direct measurements of the value to the customer of the goods or services transferred relative to the remaining goods or services promised under the contract. The majority of the Company’s services are recognized over time using the input method in which revenue is recognized on the basis of efforts or inputs toward satisfying a performance obligation (for example, resources consumed, labor hours expended, costs incurred, or time elapsed) relative to the total expected inputs to satisfy the performance obligation. The measures used provide faithful depiction of the transfer of goods or services to the customers. For example, revenue is recognized on certain consulting contracts based on labor hours expended as a measurement of progress where the consulting work involves input of consultants’ time. The progress is measured based on the hours expended over total number of estimated hours included in the contract multiplied by the total contract consideration. The contract consideration can be a fixed price or an hourly rate, and in either case, the use of labor hours expended as an input measure provides a faithful depiction of the transfer of services to the customers. Deferred revenues for these services represent amounts collected from, or invoiced to, customers in excess of revenues recognized. This results primarily from i) receipt of license fees that are deferred due to one or more of the revenue recognition criteria not being met, and ii) the billing of annual customer support agreements, annual managed service agreements, and billings for other professional services that have not yet been performed by the Company. The Company records amounts billed and received, but not earned, as deferred revenue. These amounts are recorded in either Deferred revenue or Other long-term liabilities, as applicable, in the accompanying Consolidated Balance Sheets based on the period over which the Company expects to render services. Costs directly associated with revenue deferred, consisting primarily of labor and related expenses, are also deferred and recognized in proportion to the expected future revenue from the contract.

Variable consideration exists in contracts for certain client programs that provide for adjustments to monthly billings based upon whether the Company achieves, exceeds or fails certain performance criteria. Adjustments to monthly billings consist of contractual bonuses/penalties, holdbacks and other performance based conditions. Variable consideration is estimated at contract inception at its most likely value and updated at the end of each reporting period as additional performance data becomes available. Revenue related to such variable consideration is recognized only to the extent that a significant reversal of any incremental revenue is not considered probable.

Contract modifications are routine in the performance of the customer contracts. Contracts are often modified to account for customer mandated changes in the contract specifications or requirements, including service level changes. In most instances, contract modifications relate to goods or services that are incremental and distinctly identifiable, and, therefore, are accounted for prospectively.

Incremental Costs to Obtain a Contract

Direct and incremental costs to obtain or fulfill a contract are capitalized, and the capitalized costs are amortized over the corresponding period of benefit, determined on a contract by contract basis. The Company recognizes an asset for the incremental costs of obtaining a contract with a customer if it expects to recover those costs. The incremental costs of obtaining a contract are those costs that the Company incurs to obtain a customer contract that it would not have incurred if the contract had not been obtained. Contract acquisition costs consist primarily of payment of commissions to sales personnel and are incurred when customer contracts are signed. The deferred sales commission amounts are amortized based on the expected period of economic benefit and are classified as current or non-current based on the timing of when they are expected to be recognized as an expense. Costs to obtain a contract that would have been incurred regardless of whether the contract was obtained are recognized as an expense when incurred, unless those costs are explicitly chargeable to the customer regardless of whether the contract is obtained. Sales commissions are paid for obtaining new clients only and are not paid for contract renewals or contract modifications. Capitalized costs of obtaining contracts are periodically reviewed for impairment. As of December 31, 2021, the Company has a deferred asset of $6.4 million related to sales commissions.

In certain cases, the Company negotiates an upfront payment to a customer in conjunction with the execution of a contract. Such upfront payments are critical to acquisition of new business and are often used as an incentive to negotiate favorable rates from the clients and are accounted for as upfront discounts for future services. Such payments are either made in cash at the time of execution of a contract or are netted against the Company’s service invoices. Payments to customers are capitalized as contract acquisition costs and are amortized in proportion to the expected future revenue from the contract, which in most cases results in straight-line amortization over the life of the contract. Such payments are considered a reduction of the selling prices of the Company’s products or services, and therefore, are accounted for as a reduction of revenue when amortized. Such capitalized contract acquisition costs are periodically reviewed for impairment taking into consideration ongoing future cash flows expected from the contract and estimated remaining useful life of the contract.

Practical Expedients and Exemptions

Some of the Company’s service contracts are short-term in nature with a contract term of one year or less. For those contracts, the Company has utilized the practical expedient in ASC 606-10-50-14 exempting the Company from disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. Also in alignment with ASC 606-10-50-14, the Company does not disclose the value of unsatisfied performance obligations for contracts for which it recognizes revenue at the amount to which it has the right to invoice for services performed. Additionally, the Company’s standard payment terms are less than one year from transfer of goods or services, as such, the election could apply. Given the foregoing, the Company has elected the practical expedient under ASC 606-10-32-18 to not assess whether a contract has a significant financing component. Pursuant to the Company’s election of the practical expedient under ASC 606-10-32-2A, sales, value add, and other taxes that are collected from customers concurrent with revenue-producing activities, which the Company has an obligation to remit to the governmental authorities, are excluded from revenue.

Lease Expense

The Company has negotiated certain rent holidays, landlord/tenant incentives and escalations in the base price of lease payments over the initial term of its operating leases. The initial term could include the “build-out” period of leases, where no lease payments are typically due. The Company recognizes rent holidays and rent escalations on a straight-line basis to lease expense over the lease term. The landlord/tenant incentives are recorded as a reduction to the right of use asset and depreciated on a straight line basis over the remaining lease term once the assets are placed in service.

Equity-Based Compensation Expense

Equity-based compensation expense for all share-based payment awards granted is determined based on the grant-date fair value net of an estimated forfeiture rate on a straight-line basis over the requisite service period of the award, which is typically the vesting term of the share-based payment award. The Company estimates the forfeiture rate annually based on its historical experience of forfeited awards.

Foreign Currency Translation

The assets and liabilities of the Company’s foreign subsidiaries, whose functional currency is not the U.S. Dollar, are translated at the exchange rates in effect on the last day of the period and income and expenses are translated using the monthly average exchange rates in effect for the period in which the items occur. Foreign currency translation gains and losses are recorded in Accumulated other comprehensive income (loss) within Stockholders’ Equity. Foreign currency transaction gains and losses are included in Other income (expense), net in the accompanying Consolidated Statements of Comprehensive Income (Loss).

Recently Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU 2016-02, “Leases”, along with subsequent amendments, which amended the existing standards for lease accounting. The Company adopted ASU 2016-02 as of January 1, 2019 using the modified retrospective method.

In January 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses” (ASC 326), which amends the methodology of how and when companies measure credit losses on financial instruments. The objective of the ASU is to provide financial statement users more useful information regarding expected credit losses on financial instruments and other commitments. In November 2018, the FASB issued ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments – Credit Losses” which clarifies the scope of guidance in ASU 2016-13. In May 2019, the FASB issued ASU No. 2019-05, “Financial Instruments – Credit Losses (Topic 326), Targeted Transition Relief”, which amended the transition guidance for the new credit losses standard. The ASU is effective for interim and annual periods beginning on or after December 15, 2019 with early adoption permitted, using a modified retrospective approach. The Company adopted the new guidance effective January 1, 2020 and the adoption did not have a material effect on the financial statements. See Note 4 for additional disclosures.

In August 2018, the FASB issued ASU 2018-15 “Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That is a Service Contract” (“CCA”), which aligns the accounting for the costs of implementing CCA’s with the requirements for capitalizing implementation costs incurred to develop or obtain hosting arrangement. The ASU is effective for interim and annual periods beginning on or after December 15, 2019, using a prospective or retrospective transition approach. The Company adopted the new guidance effective January 1, 2020 using the prospective approach and the adoption did not have a material effect on the financial statements.

In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes” (ASU 740), which is intended to simplify various aspects related to income tax accounting. The ASU is effective for interim and annual periods beginning on or after December 15, 2020 with early adoption permitted. The Company adopted the new guidance effective January 1, 2021, and the adoption had no effect on the financial statements or related disclosures during the year.

In October 2021, the FASB issued ASU 2021-08, Business Combinations (Topic 805), “Accounting for Contract Assets and Contract Liabilities from Contracts with Customers”, which now requires the acquirer to account for revenue contracts in accordance with Topic 606 as if it had acquired the contract, versus recording these assets and liabilities at fair value on acquisition date. The ASU is effective for interim and annual periods beginning on or after December 15, 2022 with early adoption permitted. The Company adopted the new guidance during the fourth quarter of 2021 which required application to all acquisitions completed during the adoption year. See further discussion in Note 2.

Other Accounting Pronouncements

In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform” (Topic 848), which provides optional expedients and exceptions for contracts, hedging relationships, and other transactions affected by reference rate reform due to the anticipated cessation of the London Interbank Offered Rate (“LIBOR”) on or before December 31, 2021. The ASU is effective from March 12, 2020 through December 31, 2022 and could impact the accounting for LIBOR provisions in the Company’s credit facility agreement. In addition, in January 2021, the FASB issued ASU 2021-01, “Reference Rate Reform – Scope,” which clarified the scope of ASC 848 relating to contract modifications. The Company has not yet adopted the standard but does not expect that the adoption of this guidance will have a material impact on the Company’s financial position, results of operations or cash flows.

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

12 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [ABSTRACT]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

(17)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, 2018	$	(114,168)	$	(8,278)	$	(2,150)	$	(124,596)

Other comprehensive income (loss) before reclassifications		6,688		15,545		(588)		21,645
Amounts reclassified from accumulated other comprehensive income (loss)		—		(3,085)		(198)		(3,283)
Net current period other comprehensive (income) loss		6,688		12,460		(786)		18,362

Accumulated other comprehensive income (loss) at December 31, 2019	$	(107,480)	$	4,182	$	(2,936)	$	(106,234)

Accumulated other comprehensive income (loss) at December 31, 2019	$	(107,480)	$	4,182	$	(2,936)	$	(106,234)

Other comprehensive income (loss) before reclassifications		9,722		2,321		1,016		13,059
Amounts reclassified from accumulated other comprehensive income (loss)		19,619		1,928		(528)		21,019
Net current period other comprehensive income (loss)		29,341		4,249		488		34,078

Accumulated other comprehensive income (loss) at December 31, 2020	$	(78,139)	$	8,431	$	(2,448)	$	(72,156)

Accumulated other comprehensive income (loss) at December 31, 2020	$	(78,139)	$	8,431	$	(2,448)	$	(72,156)

Other comprehensive income (loss) before reclassifications		(17,408)		(12,126)		(103)		(29,637)
Amounts reclassified from accumulated other comprehensive income (loss)		—		3,655		(288)		3,367
Net current period other comprehensive income (loss)		(17,408)		(8,471)		(391)		(26,270)

Accumulated other comprehensive income (loss) at December 31, 2021	$	(95,547)	$	(40)	$	(2,839)	$	(98,426)

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 Year Ended December 31,						Comprehensive Income
	2021		2020		2019		(Loss) Classification

Derivative valuation
Loss on foreign currency forward exchange contracts	$	4,939	$	2,618	$	(4,228)	Revenue
Tax effect		(1,284)		(690)		1,143	Provision for income taxes
	$	3,655	$	1,928	$	(3,085)	Net income (loss)

Other
Actuarial loss on defined benefit plan	$	(320)	$	(588)	$	(221)	Cost of services
Tax effect		32		60		23	Provision for income taxes
	$	(288)	$	(528)	$	(198)	Net income (loss)

SEGMENT INFORMATION (SEGMENT FINANCIALS) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Net Revenue	$ 2,273,062	$ 1,949,248	$ 1,643,704
Depreciation and amortization	96,706	78,862	69,086
Income (Loss) from Operations	217,192	204,692	123,709
Capital Expenditures	60,358	59,772	60,776
Total Assets	1,996,804	1,516,408	1,376,788
Goodwill	739,481	363,502	301,694
Operating Segments
Segment Reporting Information [Line Items]
Net Revenue	2,273,113	1,949,541	1,643,953
Intersegment Eliminations
Segment Reporting Information [Line Items]
Net Revenue	(51)	(293)	(249)
TTEC Digital
Segment Reporting Information [Line Items]
Net Revenue	414,104	306,985	305,346
Depreciation and amortization	30,468	14,029	11,216
Income (Loss) from Operations	35,437	45,315	38,927
Capital Expenditures	8,919	7,881	14,397
Total Assets	828,255	277,365	238,081
Goodwill	505,222	128,211	66,275
TTEC Digital \| Operating Segments
Segment Reporting Information [Line Items]
Net Revenue	414,148	307,278	305,595
TTEC Digital \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Net Revenue	(44)	(293)	(249)
TTEC Engage
Segment Reporting Information [Line Items]
Net Revenue	1,858,958	1,642,263	1,338,358
Depreciation and amortization	66,238	64,833	57,870
Income (Loss) from Operations	181,755	159,377	84,782
Capital Expenditures	51,439	51,891	46,379
Total Assets	1,168,549	1,239,043	1,138,707
Goodwill	234,259	235,291	235,419
TTEC Engage \| Operating Segments
Segment Reporting Information [Line Items]
Net Revenue	1,858,965	1,642,263	1,338,358
TTEC Engage \| Intersegment Eliminations
Segment Reporting Information [Line Items]
Net Revenue	$ (7)	$ 0	$ 0

OVERVIEW AND BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2021

OVERVIEW AND BASIS OF PRESENTATION [Abstract]

Restrictions on Cash and Cash Equivalents [Table Text Block]


	December 31, 2021		December 31, 2020		December 31, 2019

Cash and cash equivalents	$	158,205	$	132,914	$	82,407
Restricted cash included in "Prepaid and other current assets"		22,477		26,101		23,172
Restricted cash included in "Other noncurrent assets"		—		—		12
Total	$	180,682	$	159,015	$	105,591

Schedule of property, plant and equipment useful lives

Depreciation and amortization are computed on the straight-line method based on the following estimated useful lives:


Building		30 years
Computer equipment and software		3 to 7 years
Telephone equipment		4 to 7 years
Furniture and fixtures		5 years
Leasehold improvements		Lesser of economic useful life (typically 10 years) or original lease term
Other		3 to 7 years

WEIGHTED AVERAGE SHARE COUNTS (DILUTED SHARES TABLE) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Number of Shares Outstanding Reconciliation [Abstract]
Shares used in basic earnings per share calculation	46,890	46,647	46,373
Effect of dilutive securities:
Restricted stock units	468	318	349
Performance-based restricted stock units	28	28	36
Total effects of dilutive securities	496	346	385
Shares used in dilutive earnings per share calculation	47,386	46,993	46,758

- Definition

Additional shares included in the calculation of diluted EPS as a result of the potentially dilutive effect of contingently issuable shares. Contingently issuable shares are those shares that are issuable for little or no cash contingent on certain conditions being met.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 54
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2603-109256

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 44
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2062-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1828-109256

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 53
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2600-109256

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 52
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2597-109256

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 48
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2538-109256

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 48
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2538-109256

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 23
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e1757-109256

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 51
-URI http://asc.fasb.org/extlink&oid=125511455&loc=d3e2574-109256

+ Details

LEASE (NARRATIVE) (Details)	12 Months Ended
LEASE (NARRATIVE) (Details)	Dec. 31, 2021
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Sub-lease A [Member]
Lease start date	Jan. 01, 2009
Lease Expiration Date	Dec. 31, 2026
Sub-lease B [Member]
Lease start date	Nov. 06, 2017
Lease Expiration Date	May 31, 2021
Sub-lease C [Member]
Lease start date	Mar. 01, 2019
Lease Expiration Date	Jul. 21, 2023
Sub-lease D [Member]
Lease start date	Feb. 06, 2020
Lease Expiration Date	Jun. 14, 2023
Minimum
Lessee, Operating Lease, Term of Contract	1 year
Maximum
Lessee, Operating Lease, Term of Contract	10 years

OVERVIEW AND BASIS OF PRESENTATION (Details)	12 Months Ended
OVERVIEW AND BASIS OF PRESENTATION (Details)	Dec. 31, 2021
Building
Property Plant and Equipment Line Items
Useful life	30 years
Furniture And Fixtures
Property Plant and Equipment Line Items
Useful life	5 years
Leasehold Improvements
Property Plant and Equipment Line Items
Useful life	10 years
Minimum \| Computer Equipment and software
Property Plant and Equipment Line Items
Useful life	3 years
Minimum \| Telephone Equipment
Property Plant and Equipment Line Items
Useful life	4 years
Minimum \| Other
Property Plant and Equipment Line Items
Useful life	3 years
Minimum \| Software and Software Development Costs [Member]
Property Plant and Equipment Line Items
Useful life	4 years
Minimum \| Other Intangible Assets [Member]
Property Plant and Equipment Line Items
Useful life	1 year
Maximum \| Computer Equipment and software
Property Plant and Equipment Line Items
Useful life	7 years
Maximum \| Telephone Equipment
Property Plant and Equipment Line Items
Useful life	7 years
Maximum \| Other
Property Plant and Equipment Line Items
Useful life	7 years
Maximum \| Software and Software Development Costs [Member]
Property Plant and Equipment Line Items
Useful life	7 years
Maximum \| Other Intangible Assets [Member]
Property Plant and Equipment Line Items
Useful life	12 years

INDEBTEDNESS (NARRATIVE) (Details) - USD ($)			1 Months Ended	12 Months Ended
INDEBTEDNESS (NARRATIVE) (Details) - USD ($)	Nov. 23, 2021	Mar. 25, 2021	Apr. 30, 2021	Dec. 31, 2021	Dec. 31, 2020
Initiation date of current line of credit agreement	Nov. 23, 2021
Line of Credit Facility, Increase (Decrease), Other, Net		$ 300,000,000
Line of Credit Facility, Current Borrowing Capacity	$ 1,500,000,000	$ 1,200,000,000
Initial Borrowing Capacity				$ 1,500,000
Proceeds from factored receivables				100,000,000
Percentage of receivables factored				$ 25
Credit facility interest rate				1.30%	1.60%
Line of Credit Facility, Collateral				Letter of credit fees are one eighth of 1% of the stated amount of the letter of credit on the date of issuance, renewal or amendment, plus an annual fee equal to the borrowing margin for Eurodollar loans.
Receivables Held-for-sale, Amount				$ 100,000,000
Line of credit				791,000,000	$ 385,000,000
Average daily utilization under credit facility				797,200,000	$ 550,900,000
Remaining borrowing capacity under credit facility				565,000,000
Letters Of Credit Issued Outside Line Of Credit Facility				300,000
Line Of Credit Facility Letters Of Credit Issued				$ 22,600,000
Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Credit facility interest rate				1.00%
London Interbank Offered Rate (LIBOR) [Member]
Credit facility interest rate				1.25%
Avtex
Line of Credit Facility, Increase (Decrease), Other, Net			$ 500,000,000
Minimum \| Company's net leverage ratio [Member]
Credit facility interest rate				0.00%
Minimum \| Eurodollar [Member]
Credit facility interest rate				1.00%
Maximum
Proceeds from factored receivables				$ 100,000,000
Receivables Held-for-sale, Amount				$ 100,000,000
Maximum \| Company's net leverage ratio [Member]
Credit facility interest rate				0.75%
Maximum \| Eurodollar [Member]
Credit facility interest rate				1.75%

GOODWILL

12 Months Ended

Dec. 31, 2021

GOODWILL [ABSTRACT]

GOODWILL.

(6)GOODWILL

Goodwill consisted of the following (in thousands):


							Effect of
	December 31,		Acquisitions /				Foreign		December 31,
	2020		Adjustments		Impairments		Currency		2021

TTEC Digital	$	128,211	$	378,908	$	—	$	(1,897)	$	505,222
TTEC Engage		235,291		—		—		(1,032)		234,259
Total	$	363,502	$	378,908	$	—	$	(2,929)	$	739,481


							Effect of
	December 31,		Acquisitions /				Foreign		December 31,
	2019		Adjustments		Impairments		Currency		2020

TTEC Digital	$	66,275	$	59,341	$	—	$	2,595	$	128,211
TTEC Engage		235,419		(254)		—		126		235,291
Total	$	301,694	$	59,087	$	—	$	2,721	$	363,502

Impairment

The Company has three reporting units with goodwill and performs a goodwill impairment test on at least an annual basis. The Company conducts its annual goodwill impairment test during the fourth quarter, or more frequently, if indicators of impairment exist.

For the annual goodwill impairment analysis, the Company elected to perform a Step 1 evaluation for all of its reporting units, which includes comparing a reporting unit’s estimated fair value to its carrying value. The determination of fair value requires significant judgments including estimation of future cash flows, which is dependent on internal forecasts, estimation of the long-term growth rates for the businesses, the useful lives over which the cash flows will occur and determination of appropriate discount rates (based in part on 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. As of December 1, 2021, the date of the annual impairment testing, the Company concluded that for all three of the reporting units the fair values were in excess of their respective carrying values and the goodwill for those reporting units was not impaired.

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 used a market approach and an income approach to determine our best estimates of fair value which incorporated the following significant assumptions:

●

Revenue projections, including revenue growth during the forecast periods ranging from 2.5% to 28.8%;

●

EBITDA margin projections held relatively flat over the forecast periods ranging from 11.5% to 21.1%;

●

Estimated income tax rates of 26.1% to 26.9%;

●

Estimated capital expenditures ranging from $3.9 million to $81.3 million, and

●

Discount rates ranging from 8.5% to 12.5% based on various inputs, including the risks associated with the specific reporting units, the country of operations as well as their revenue growth and EBITDA margin assumptions.

During the third quarter 2020, the Company reassessed the reporting units within the TTEC Digital segment based on a reorganization of the reporting structure within this segment. The Company has changed how it views and assesses performance of the components within the segment as the business has evolved and multiple recent acquisitions have been incorporated. After evaluation, The Company will maintain two reporting units within TTEC Digital but these include different components than previously included. Given the change in reporting units, the Company conducted an impairment test before and after the change, and it was concluded that the fair value of the reporting units exceeded the carrying value on both testing dates. With the change in reporting units, the Company performed a relative fair value valuation calculation to allocate the Company’s historical goodwill between the two reporting units based on the shift in components. The resulting reallocation of goodwill was not material.

FAIR VALUE

12 Months Ended

Dec. 31, 2021

FAIR VALUE [Abstract]

FAIR VALUE

(9)FAIR VALUE

The authoritative guidance for fair value measurements establishes a three-level fair value hierarchy that prioritizes the inputs used to measure fair value. This hierarchy requires that the Company maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows:


Level 1 —	Quoted prices in active markets for identical assets or liabilities.

Level 2 —	Observable inputs other than quoted prices included in Level 1, such as quoted prices for similar assets and liabilities in active markets, similar assets and liabilities in markets that are not active or can be corroborated by observable market data.

Level 3 —	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs.

The following presents information as of December 31, 2021 and 2020 of the Company’s assets and liabilities required to be measured at fair value on a recurring basis, as well as the fair value hierarchy used to determine their fair value.

Accounts Receivable and Payable - The amounts recorded in the accompanying balance sheets approximate fair value because of their short-term nature.

Investments – The Company measures investments, including cost and equity method investments, at fair value on a nonrecurring basis when they are deemed to be other-than-temporarily impaired. The fair values of these investments are determined based on valuation techniques using the best information available and may include market observable inputs and discounted cash flow projections. An impairment charge is recorded when the cost of the investment exceeds its fair value and this condition is determined to be other-than-temporary. As of December 31, 2021, the investment in CaféX Communications, Inc., which consists of the Company’s total $15.6 million investment, was fully impaired to zero.

Debt - The Company’s debt consists primarily of the Company’s Credit Agreement, which permits floating-rate borrowings based upon the current Prime Rate or LIBOR plus a credit spread as determined by the Company’s leverage ratio calculation (as defined in the Credit Agreement). As of December 31, 2021 and 2020, the Company had $791.0 million and $385.0 million, respectively, of borrowings outstanding under the Credit Agreement. During 2021 and 2020, borrowings accrued interest at an average rate of 1.3% and 1.6% per annum, respectively, excluding unused commitment fees. The amounts recorded in the accompanying Balance Sheets approximate fair value due to the variable nature of the debt based on level 2 inputs.

Derivatives - Net derivative assets (liabilities) are measured at fair value on a recurring basis. The portfolio is valued using models based on market observable inputs, including both forward and spot foreign exchange rates, interest rates, implied volatility, and counterparty credit risk, including the ability of each party to execute its obligations under the contract. As of December 31, 2021, credit risk did not materially change the fair value of the Company’s derivative contracts.

The following is a summary of the Company’s fair value measurements for its net derivative assets (liabilities) as of December 31, 2021 and 2020 (in thousands):

As of December 31, 2021


	Fair Value Measurements Using
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		At Fair Value
Cash flow hedges	$	—	$	(62)	$	—	$	(62)
Fair value hedges		—		198		—		198
Total net derivative asset (liability)	$	—	$	136	$	—	$	136

As of December 31, 2020


	Fair Value Measurements Using
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		At Fair Value
Cash flow hedges	$	—	$	11,390	$	—	$	11,390
Fair value hedges		—		(15)		—		(15)
Total net derivative asset (liability)	$	—	$	11,375	$	—	$	11,375

The following is a summary of the Company’s fair value measurements as of December 31, 2021 and 2020 (in thousands):

As of December 31, 2021


	Fair Value Measurements Using
	Quoted Prices in				Significant
	Active Markets for		Significant Other		Unobservable
	Identical Assets		Observable Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments, net	$	—	$	136	$	—
Total assets	$	—	$	136	$	—

Liabilities
Deferred compensation plan liability	$	—	$	(30,012)	$	—
Derivative instruments, net		—		—		—
Contingent consideration		—		—		(9,600)
Total liabilities	$	—	$	(30,012)	$	(9,600)

Redeemable noncontrolling interest	$	—	$	—	$	(56,316)

As of December 31, 2020


	Fair Value Measurements Using
	Quoted Prices in				Significant
	Active Markets for		Significant Other		Unobservable
	Identical Assets		Observable Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments, net	$	—	$	11,375	$	—
Total assets	$	—	$	11,375	$	—

Liabilities
Deferred compensation plan liability	$	—	$	(23,858)	$	—
Derivative instruments, net		—		—		—
Contingent consideration		—		—		(18,032)
Total liabilities	$	—	$	(23,858)	$	(18,032)

Redeemable noncontrolling interest	$	—	$	—	$	(52,976)

Deferred Compensation Plan - The Company maintains a non-qualified deferred compensation plan structured as a Rabbi trust for certain eligible employees. Participants in the deferred compensation plan select from a menu of phantom investment options for their deferral dollars offered by the Company each year, which are based upon changes in value of complementary, defined market investments. The deferred compensation liability represents the combined values of market investments against which participant accounts are tracked.

Contingent Consideration — The Company recorded contingent consideration related to the acquisitions of VF US and VF ASEAN. The contingent payable for VF US was calculated using a Monte Carlo simulation including a discount rate of 23.1%. The contingent payable for VF ASEAN was calculated using a Monte Carlo simulation including a discount rate of 18.4% The measurements were based on significant inputs not observable in the market. The Company records interest expense each period using the effective interest method until the future value of these contingent payables reaches their expected future value. Interest expense related to all recorded contingent payables is included in Interest expense in the Consolidated Statements of Comprehensive Income (Loss).

During the first, second and fourth quarters of 2020, the Company recorded fair value adjustments to the contingent consideration associated with the acquisition of FCR LLC based on decreased estimates of EBITDA which caused the estimated payable to decrease. Accordingly, a $3.3 million decrease, a $1.1 million decrease and a $1.8 million decrease to the payable were recorded as of March 31, 2020, June 30, 2020 and December 31, 2020, respectively, and were included in Other income (expense), net in the Consolidated Statements of Comprehensive Income (Loss). As of December 31, 2020, the final calculated contingent consideration for FCR was zero.

During the fourth quarter of 2020, the first quarter of 2021 the second quarter of 2021 and the fourth quarter of 2021, the Company recorded fair value adjustments to the contingent consideration associated with the VF US and VF ASEAN acquisitions based on increased actual results and estimates of EBITDA for 2021 which caused the payables to increase. Accordingly, a combined $4.3 million increase, $0.9 million increase, $0.2 million increase and a $0.1 million increase to the payables were recorded as of December 31, 2020, March 31, 2021, June 30, 2021 and December 31, 2021, respectively, and were included in Other income (expense), net in the Consolidated Statements of Comprehensive Income (Loss). As of December 31, 2021, the expected future contingent consideration for the VF US and VF ASEAN acquisitions is $9.6 million.

A rollforward of the activity in the Company’s fair value of the contingent consideration is as follows (in thousands):


							Imputed
	December 31,						Interest /		December 31,
	2020		Acquisitions		Payments		Adjustments		2021

FCR	$	—	$	—	$	—	$	—	$	—
VF US		14,085		—		(7,414)		743		7,414
VF ASEAN		3,947		—		(2,186)		425		2,186
Total	$	18,032	$	—	$	(9,600)	$	1,168	$	9,600


							Imputed
	December 31,						Interest /		December 31,
	2019		Acquisitions		Payments		Adjustments		2020

FCR	$	6,134	$	—	$	—	$	(6,134)	$	—
VF US		—		10,943		—		3,142		14,085
VF ASEAN		—		2,778		—		1,169		3,947
Total	$	6,134	$	13,721	$	—	$	(1,823)	$	18,032

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

STOCK REPURCHASE PROGRAM (NARRATIVE) (Details) shares in Millions, $ in Millions	242 Months Ended
	Dec. 31, 2021 USD ($) shares
STOCK REPURCHASE PROGRAM [ABSTRACT]
Cumulative Authorized Share Repurchase Allowance	$ 762.3
Treasury Stock Purchases, Shares \| shares	46.1
Cost of Treasury Stock Purchases	$ 735.8
Remaining Allowance Stock Repurchase Program	$ 26.6
Purchases of common stock, share \| shares	46.1
Purchases of common stock, value	$ 735.8

STOCK REPURCHASE PROGRAM

12 Months Ended

Dec. 31, 2021

STOCK REPURCHASE PROGRAM [ABSTRACT]

STOCK REPURCHASE PROGRAM

(20)STOCK REPURCHASE PROGRAM

Stock Repurchase Program

The Company has a stock repurchase program, which was initially authorized by the Company’s Board of Directors in November 2001, and is accounted for using the cash method. As of December 31, 2021, the cumulative authorized repurchase allowance was $762.3 million. During the year ended December 31, 2021, the Company purchased no additional shares. Since inception of the program, the Company has purchased 46.1 million shares for $735.8 million. As of December 31, 2021, the remaining allowance under the program was approximately $26.6 million. For the period from January 1, 2022 through February 23, 2022, the Company did not purchase any additional shares. The stock repurchase program does not have an expiration date.

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS

12 Months Ended

Dec. 31, 2021

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS [Abstract]

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS

(4)ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS

Accounts receivable, net in the accompanying Consolidated Balance Sheets consists of the following (in thousands):


	December 31,
	2021		2020
Accounts receivable	$	362,719	$	383,464
Less: Allowance for credit losses		(5,409)		(5,067)
Accounts receivable, net	$	357,310	$	378,397

In connection with the implementation of ASC 326 as of January 1, 2020, the Company analyzed the prior history of credit losses on revenue for TTEC as a whole and separately for each of the two segments. Based on this evaluation, no modification to the allowance for credit losses balance was necessary as of the implementation date. At the end of each quarter beginning with March 31, 2020, an allowance for credit losses has been calculated based on the current quarterly revenue multiplied by the historical loss percentage of the prior three-year period and recorded in the income statement. In addition to the evaluation of historical losses, the Company considers current and future economic conditions and events such as changes in customer credit quality and liquidity. The Company will write-off accounts receivable against this allowance when the Company determines a balance is uncollectible.

Activity in the Company’s Allowance for credit losses consists of the following (in thousands):


	December 31,
	2021		2020		2019
Balance, beginning of year	$	5,067	$	5,452	$	5,592
Provision for credit losses		(350)		494		1,711
Uncollectible receivables written-off		(281)		(880)		(1,311)
Effect of foreign currency and other		(15)		1		(540)
Acquisition		988		—		—
Balance, end of year	$	5,409	$	5,067	$	5,452

Significant Clients

The Company had one client that contributed in excess of 10% of total revenue for the year ended December 31, 2021 and 2020. The Company had no clients that contributed in excess of 10% of total revenue for the year ended December 31, 2019. The revenue from these clients as a percentage of total revenue is as follows:


	Year Ended December 31,
	2021		2020		2019

Financial services client	12	%	13	%	3	%

Accounts receivable from this client was as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019

Financial services client	$	15,483	$	58,960	$	4,321

The Company does have clients with aggregate revenue exceeding $100 million annually and the loss of one or more of these clients could have a material adverse effect on the Company’s business, operating results, or financial condition. To mitigate this risk, the Company has multiple contracts with these larger clients, where each individual contract is for an amount below the $100 million aggregate.

To limit the Company’s credit risk with its clients, management performs periodic credit evaluations, maintains allowances for credit losses and may require pre-payment for services from certain clients. Based on currently available information, management does not believe significant credit risk exists as of December 31, 2021.

Accounts Receivable Factoring Agreement

The Company is party to an Uncommitted Receivables Purchase Agreement (“Agreement”) with Bank of the West (“Bank”), whereby from time-to-time the Company may elect to sell, on a revolving basis, U.S. accounts receivables of certain clients at a discount to the Bank for cash on a limited recourse basis. The maximum amount of receivables that the Company may sell to the Bank at any given time shall not exceed $100 million. The sales of accounts receivable in accordance with the Agreement are reflected as a reduction of Accounts Receivable, net on the Consolidated Balance sheets. The Company has retained no interest in the sold receivables but retains all collection responsibilities on behalf of the Bank. The discount on the accounts receivable sold will be recorded within Other expense, net in the Consolidated Statements of Comprehensive Income (Loss). The cash proceeds from this Agreement are included in the change in accounts receivable within the operating activities section of the Consolidated Statements of Cash Flows.

As of December 31, 2021 and 2020, the Company had factored $97.7 million and $71.0 million, respectively, of accounts receivable; under the Agreement discounts on these receivables were not material during the year. As of December 31, 2021 and 2020, the Company had collected $22.5 million and $26.1 million, respectively, of cash from customers which had not been remitted to the Bank. The unremitted cash is Restricted Cash and is included within Prepaid and Other Current Assets with the corresponding liability included in Accrued Expenses on the Consolidated Balance Sheet. The Company has not recorded any servicing assets or liabilities as of December 31, 2021 and 2020 as the fair value of the servicing arrangement as well as the fees earned were not material to the financial statements.

PROPERTY PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2021

PROPERTY PLANT AND EQUIPMENT [ABSTRACT]

PROPERTY, PLANT AND EQUIPMENT

(5)PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following (in thousands):


	December 31,
	2021		2020
Land and buildings	$	32,942	$	32,944
Computer equipment and software		503,056		474,415
Telephone equipment		50,256		51,717
Furniture and fixtures		84,944		85,149
Leasehold improvements		189,161		193,823
Motor vehicles		257		258
Property, plant and equipment, gross		860,616		838,306
Less: Accumulated depreciation and amortization		(692,212)		(659,600)
Property, plant and equipment, net	$	168,404	$	178,706

Depreciation and amortization expense for property, plant and equipment was $63.5 million, $62.7 million and $57.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Included in the computer equipment and software is internally developed software of $19.4 million net and $16.2 million net as of December 31, 2021 and 2020, respectively. During 2021, impairments of internally developed software of $3.2 million were expensed and included in Impairment losses in the Consolidated Statements of Comprehensive Income (Loss).

FAIR VALUE (FAIR VALUE ASSETS AND LIABILITIES) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Liabilities [Abstract]
Contingent consideration	$ (9,600)	$ (18,032)	$ (6,134)
Redeemable noncontrolling interest	(56,316)	(52,976)	$ (48,923)
Fair Value, Measurements, Recurring [Member] \| Significant Other Observable Inputs (Level 2) [Member]
Assets [Abstract]
Derivative assets, net	136	11,375
Total assets	136	11,375
Liabilities [Abstract]
Deferred compensation plan liability	(30,012)	(23,858)
Derivative instruments, net	0
Total liabilities	(30,012)	(23,858)
Redeemable noncontrolling interest	0
Fair Value, Measurements, Recurring [Member] \| Significant Unobservable Inputs (Level 3) [Member]
Liabilities [Abstract]
Contingent consideration	(9,600)	(18,032)
Total liabilities	(9,600)	(18,032)
Redeemable noncontrolling interest	$ (56,316)	$ (52,976)

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 158,205	$ 132,914
Accounts receivable, net	357,310	378,397
Prepaids and other current assets	134,333	104,597
Income and other tax receivables	48,139	40,894
Total current assets	697,987	656,802
Long-term assets
Property, plant and equipment, net	168,404	178,706
Operating lease assets	90,180	120,820
Goodwill	739,481	363,502
Deferred tax assets, net	11,130	15,081
Other intangible assets, net	212,349	112,059
Other long-term assets	77,273	69,438
Total long-term assets	1,298,817	859,606
Total assets	1,996,804	1,516,408
Current liabilities
Accounts payable	70,415	66,658
Accrued employee compensation and benefits	156,324	163,658
Other accrued expenses	63,369	55,915
Income taxes payable	9,471	19,709
Deferred revenue	95,608	39,956
Current operating lease liabilities	44,460	43,651
Other current liabilities	4,749	6,623
Total current liabilities	444,396	396,170
Long-term liabilities
Line of credit	791,000	385,000
Deferred tax liabilities, net	5,335	7,747
Non-current Income Taxes Payable	17,486	22,291
Non-current operating lease liabilities	64,419	98,277
Other long-term liabilities	79,827	96,185
Total long-term liabilities	958,067	609,500
Total liabilities	1,402,463	1,005,670
Redeemable noncontrolling interest	56,316	52,976
Stockholders' equity
Preferred stock - $0.01 par value: 10,000,000 shares authorized; zero shares outstanding as of December 31, 2021 and December 31, 2020	0	0
Common stock - $0.01 par value; 150,000,000 shares authorized; 46,990,031 and 46,737,033 shares outstanding as of December 31, 2021 and December 31, 2020, respectively	470	467
Additional paid-in capital	361,135	360,293
Treasury stock at cost: 35,062,222 and 35,315,220 shares as of December 31, 2021 and December 31, 2020, respectively	(597,031)	(601,214)
Accumulated other comprehensive income (loss)	(98,426)	(72,156)
Retained earnings	856,065	757,312
Noncontrolling interest	15,812	13,060
Total stockholders' equity	538,025	457,762
Total liabilities and stockholders' equity	$ 1,996,804	$ 1,516,408

FAIR VALUE (CONTINGENT CONSIDERATION TABLE) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Business acquisitions, Contingent Consideration [Line Items]
Beginning balance, contingent consideration payable	$ 18,032,000	$ 6,134,000
Acquisitions		13,721,000
Payments	(9,600,000)
Imputed Interest/ Adjustment	1,168,000	(1,823,000)
Ending balance, contingent consideration payable	9,600,000	18,032,000
FCR
Business acquisitions, Contingent Consideration [Line Items]
Beginning balance, contingent consideration payable	0	6,134,000
Imputed Interest/ Adjustment		(6,134,000)
Ending balance, contingent consideration payable	0	0
VoiceFoundry US
Business acquisitions, Contingent Consideration [Line Items]
Beginning balance, contingent consideration payable	14,085,000	0
Acquisitions		10,943,000
Payments	(7,414,000)
Imputed Interest/ Adjustment	743,000	3,142,000
Ending balance, contingent consideration payable	7,414,000	14,085,000
VoiceFoundry ASEAN
Business acquisitions, Contingent Consideration [Line Items]
Beginning balance, contingent consideration payable	3,947,000	0
Acquisitions		2,778,000
Payments	(2,186,000)
Imputed Interest/ Adjustment	425,000	1,169,000
Ending balance, contingent consideration payable	$ 2,186,000	$ 3,947,000

ACQUISITIONS AND DIVESTITURES (NARRATIVE) (Details) - USD ($)											1 Months Ended		3 Months Ended							12 Months Ended
	Dec. 31, 2021	Dec. 21, 2021	Apr. 08, 2021	Nov. 04, 2020	Sep. 30, 2020	Aug. 05, 2020	Jun. 30, 2020	Mar. 31, 2020	Feb. 07, 2020	Oct. 26, 2019	Apr. 30, 2022	Apr. 30, 2021	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Other liabilities, noncurrent	$ 79,827,000												$ 79,827,000				$ 96,185,000			$ 79,827,000	$ 96,185,000
Redeemable noncontrolling interest	56,316,000												56,316,000				52,976,000			56,316,000	52,976,000	$ 48,923,000
Contingent Consideration, at fair value	9,600,000												9,600,000				18,032,000			9,600,000	18,032,000	6,134,000
Business Combination Contingent Consideration Liability	9,600,000												9,600,000				18,032,000			9,600,000	18,032,000	6,134,000
Revenue of Acquirees since Acquisition Date, Actual																				147,700,000	19,400,000	18,600,000
Income (loss) from operations of Acquirees since Acquisition Date, Actual																				9,800,000	1,900,000	1,400,000
Sales Revenue Services Net																				2,273,062,000	1,949,248,000	1,643,704,000
Net income attributable to TTEC stockholders																				140,970,000	118,648,000	77,164,000
Business Acquisition, Pro Forma Revenue																				2,320,100,000	2,135,600,000	1,741,300,000
Business Acquisition, Pro Forma Income (Loss) from Continuing Operations, Net of Tax																				140,300,000	115,600,000	87,000,000.0
(Gain) Loss on dissolution of subsidiary																				0	(19,905,000)	0
Expected forecast volatility rate [Member]
Business Acquisition [Line Items]
Business combination contingent consideration measurement input										20
Foreign Subsidiary 1 [Member]
Business Acquisition [Line Items]
(Gain) Loss on dissolution of subsidiary							$ 2,500,000
Foreign Subsidiary 2 [Member]
Business Acquisition [Line Items]
(Gain) Loss on dissolution of subsidiary					$ 17,400,000
TTEC Digital
Business Acquisition [Line Items]
Sales Revenue Services Net																				414,104,000	306,985,000	305,346,000
TTEC Engage
Business Acquisition [Line Items]
Sales Revenue Services Net																				1,858,958,000	1,642,263,000	1,338,358,000
Accounting Standards Update 2021-08 [Member]
Business Acquisition [Line Items]
Increase (Decrease) in Deferred Revenue													(4,900,000)
Faneuil
Business Acquisition [Line Items]
Asset Acquisition, Date of Acquisition Agreement		Dec. 21, 2021
Asset Acquisition, Price of Acquisition, Expected		$ 140,000,000.0
Avtex
Business Acquisition [Line Items]
ownership percentage			100.00%
VoiceFoundry US
Business Acquisition [Line Items]
Payments to Acquire Businesses						$ 34,300,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities																$ 300,000
Future Value of Liabilities Incurred From Business Acquisitions	10,900,000					7,400,000							10,900,000							10,900,000
Contingent Consideration, at fair value	7,400,000												7,400,000							7,400,000
Business Combination Contingent Consideration Liability	$ 7,400,000												7,400,000							$ 7,400,000
Increase (decrease) in contingent consideration payable													$ 3,200,000
VoiceFoundry US \| Risk Free Interest Rate
Business Acquisition [Line Items]
Business combination contingent consideration measurement input	2.6												2.6							2.6
VoiceFoundry US \| Expected forecast volatility rate [Member]
Business Acquisition [Line Items]
Business combination contingent consideration measurement input	47												47							47
VoiceFoundry US \| Discount Rate
Business Acquisition [Line Items]
Business combination contingent consideration measurement input	23.1												23.1							23.1
Serendebyte
Business Acquisition [Line Items]
ownership percentage	70.00%												70.00%							70.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners									30.00%
FCR
Business Acquisition [Line Items]
ownership percentage	70.00%												70.00%							70.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners										30.00%
Avtex
Business Acquisition [Line Items]
Date of Acquisition			Apr. 08, 2021
Description of Acquired Entity			Avtex is an end-to-end customer experience and CXaaS solutions provider with offerings in Genesys and Microsoft cloud solutions
Payments to Acquire Businesses			$ 499,946,000
Base purchase price to acquire businesses			490,000,000.0
Total purchase price			$ 499,946,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities														$ 100,000
Avtex \| Accounting Standards Update 2021-08 [Member]
Business Acquisition [Line Items]
Sales Revenue Services Net													$ 3,400,000
Avtex \| Customer Relationships [Member]
Business Acquisition [Line Items]
Useful life			9 years
Avtex \| Trade Names [Member]
Business Acquisition [Line Items]
Useful life			1 year
Avtex \| Intellectual Property [Member]
Business Acquisition [Line Items]
Useful life			3 years
VoiceFoundry US
Business Acquisition [Line Items]
Total purchase price						$ 45,884,000
Contingent Consideration, at fair value	$ 7,414,000												7,414,000				14,085,000			$ 7,414,000	14,085,000	0
Business Combination Contingent Consideration Liability	$ 7,414,000												7,414,000				14,085,000			$ 7,414,000	14,085,000	0
Increase (decrease) in contingent consideration payable											$ (7,400,000)	$ (7,400,000)	$ (25,000)		$ (200,000)	(500,000)
VoiceFoundry US \| Discount Rate
Business Acquisition [Line Items]
Business combination contingent consideration measurement input	23.1												23.1							23.1
VoiceFoundry US \| Customer Relationships [Member]
Business Acquisition [Line Items]
Useful life						4 years
VoiceFoundry US \| Trade Names [Member]
Business Acquisition [Line Items]
Useful life						2 years
VoiceFoundry US \| VoiceFoundry US
Business Acquisition [Line Items]
Date of Acquisition						Aug. 05, 2020
Percentage of Voting Interests Acquired						100.00%
Description of Acquired Entity						VoiceFoundry is a preferred Amazon Connect cloud contact center service and implementation partner
VoiceFoundry ASEAN
Business Acquisition [Line Items]
Date of Acquisition				Nov. 04, 2020
Payments to Acquire Businesses				$ 15,200,000
Total purchase price				18,230,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities														$ 200,000
Future Value of Liabilities Incurred From Business Acquisitions				2,800,000
Contingent Consideration, at fair value	$ 2,186,000												$ 2,186,000				3,947,000			$ 2,186,000	3,947,000	0
Business Combination Contingent Consideration Liability	$ 2,186,000												2,186,000				3,947,000			$ 2,186,000	3,947,000	0
Increase (decrease) in contingent consideration payable											$ (2,200,000)	$ (2,200,000)	$ (100,000)		$ 100,000	$ (400,000)	1,200,000
VoiceFoundry ASEAN \| Maximum
Business Acquisition [Line Items]
Future Value of Liabilities Incurred From Business Acquisitions				$ 2,200,000
VoiceFoundry ASEAN \| Risk Free Interest Rate
Business Acquisition [Line Items]
Business combination contingent consideration measurement input				1.6
VoiceFoundry ASEAN \| Expected forecast volatility rate [Member]
Business Acquisition [Line Items]
Business combination contingent consideration measurement input				50
VoiceFoundry ASEAN \| Discount Rate
Business Acquisition [Line Items]
Business combination contingent consideration measurement input	18.4			18.4									18.4							18.4
VoiceFoundry ASEAN \| Customer Relationships [Member]
Business Acquisition [Line Items]
Useful life				4 years
VoiceFoundry ASEAN \| Trade Names [Member]
Business Acquisition [Line Items]
Useful life				2 years
VoiceFoundry ASEAN \| VoiceFoundry ASEAN
Business Acquisition [Line Items]
Percentage of Voting Interests Acquired				100.00%
Serendebyte
Business Acquisition [Line Items]
Date of Acquisition									Feb. 07, 2020
Percentage of Voting Interests Acquired									70.00%
Description of Acquired Entity									Serendebyte Inc., a Delaware corporation (“the Serendebyte Transaction”). Serendebyte is an autonomous customer experience and intelligent automation solutions provider based in India, the United States, and Canada
Payments to Acquire Businesses									$ 9,000,000.0
Total purchase price									12,928,000
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities																		$ 800,000
Cash balance retained									2,200,000
Redeemable noncontrolling interest									$ 3,800,000
Serendebyte \| Discount Rate
Business Acquisition [Line Items]
Unobservable Measurement Input, Uncertainty, Description									35%
Serendebyte \| Customer Relationships [Member]
Business Acquisition [Line Items]
Useful life									5 years
Serendebyte \| Trade Names [Member]
Business Acquisition [Line Items]
Useful life									3 years
Serendebyte \| Serendebyte
Business Acquisition [Line Items]
Percentage of Voting Interests Acquired									70.00%
FCR
Business Acquisition [Line Items]
Date of Acquisition										Oct. 26, 2019
Percentage of Voting Interests Acquired										70.00%
Contingent Consideration Arrangements, Basis for Amount										Significant assumptions include a discount rate of 16.7% expected forecast volatility of 20%, an equivalent metric risk premium of 15.1%, risk-free rate of 1.6% and a credit spread of 1.8%.
Payments to Acquire Businesses										$ 4,500,000
Total purchase price										161,841,000
Other liabilities, noncurrent	$ 0												$ 0							$ 0
Business Combination, Provisional Information, Initial Accounting Incomplete, Adjustment, Financial Liabilities																			$ 700,000
Cost of Acquired Entity, Up Front Cash Consideration										107,000,000.0
Cash balance retained										700,000
Future Value of Liabilities Incurred From Business Acquisitions										6,500,000
Redeemable noncontrolling interest										48,300,000
Contingent Consideration, at fair value	0									10,900,000			0				0			0	0	6,134,000
Business Combination Contingent Consideration Liability	0									10,900,000			0				$ 0			$ 0	$ 0	$ 6,134,000
Contingent Consideration, at Fair Value, Current Portion										$ 6,100,000
Increase (decrease) in contingent consideration payable	$ 1,800,000						$ 1,100,000	$ 3,300,000					$ 1,800,000					$ 1,100,000	$ 3,300,000
FCR \| Discount Rate
Business Acquisition [Line Items]
Unobservable Measurement Input, Uncertainty, Description										19.6%
Business combination contingent consideration measurement input										16.7
FCR \| TTEC Engage
Business Acquisition [Line Items]
Description of Acquired Entity										First Call Resolution, LLC (“FCR”), an Oregon limited liability company (“the FCR Transaction”). FCR is a customer care, social networking and business process solutions service provider with approximately 2,000 employees based in the U.S.
FCR \| Customer Relationships [Member]
Business Acquisition [Line Items]
Useful life										10 years
FCR \| Trade Names [Member]
Business Acquisition [Line Items]
Useful life										4 years

SEGMENT INFORMATION (REVENUE GEOGRAPHY) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	$ 2,273,062	$ 1,949,248	$ 1,643,704
Property, plant and equipment, gross	860,616	838,306	801,183
Other long-term assets	77,273	69,438	68,969
United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	1,524,654	1,338,267	1,002,524
Property, plant and equipment, gross	605,582	576,803	559,326
Other long-term assets	67,291	55,548	57,417
Philippines [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	409,360	347,575	370,395
Property, plant and equipment, gross	158,098	162,391	144,213
Other long-term assets	6,187	8,756	7,892
Latin America [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	114,967	98,633	100,117
Property, plant and equipment, gross	47,540	46,307	45,743
Other long-term assets	864	912	993
Europe Middle East Africa [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	110,909	78,478	70,613
Property, plant and equipment, gross	19,594	23,043	14,823
Other long-term assets	1,735	2,328	993
Asia Pacific[ Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	67,035	59,750	55,554
Property, plant and equipment, gross	14,977	15,918	21,562
Other long-term assets	435	1,726	1,422
Canada [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Sales Revenue Services Net	46,137	26,545	44,501
Property, plant and equipment, gross	14,825	13,844	15,516
Other long-term assets	$ 761	$ 168	$ 252

PROPERTY PLANT AND EQUIPMENT (PPE BREAKOUT BY TYPE TABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property Plant and Equipment Line Items
Property, plant and equipment, gross	$ 860,616	$ 838,306	$ 801,183
Less: Accumulated depreciation and amortization	(692,212)	(659,600)
Property, Plant and Equipment, Net, Total	168,404	178,706
Land And Building [Member]
Property Plant and Equipment Line Items
Property, plant and equipment, gross	32,942	32,944
Technology Equipment [Member]
Property Plant and Equipment Line Items
Property, plant and equipment, gross	503,056	474,415
Equipment [Member]
Property Plant and Equipment Line Items
Property, plant and equipment, gross	50,256	51,717
Furniture And Fixtures
Property Plant and Equipment Line Items
Property, plant and equipment, gross	84,944	85,149
Leasehold Improvements
Property Plant and Equipment Line Items
Property, plant and equipment, gross	189,161	193,823
Vehicles [Member]
Property Plant and Equipment Line Items
Property, plant and equipment, gross	$ 257	$ 258

OTHER INTANGIBLE ASSETS (SCHEDULE OF INTANGIBLE ASSETS TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Beginning balance, accumulated amortization of other intangible assets	$ 112,059	$ 115,596
Amortization	(31,969)	(16,186)
Impairments	(671)	0
Acquisitions and Adjustments	133,486	12,820
Effect of Foreign Currency	(556)	(171)
Ending balance, accumulated amortization of other intangible assets	212,349	112,059
Customer Relationships [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Beginning balance, accumulated amortization of other intangible assets	173,601	161,756
Amortization	0	0
Impairments	0	0
Acquisitions and Adjustments	128,186	11,570
Effect of Foreign Currency	(1,839)	275
Ending balance, accumulated amortization of other intangible assets	299,948	173,601
Customer Relationships Accumulated Amortization [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Beginning balance, accumulated amortization of other intangible assets	(68,769)	(54,653)
Amortization	(25,440)	(13,640)
Impairments	(671)	0
Acquisitions and Adjustments	0	0
Effect of Foreign Currency	1,298	(476)
Ending balance, accumulated amortization of other intangible assets	(93,582)	(68,769)
Other Intangible Assets [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Beginning balance, accumulated amortization of other intangible assets	14,450	13,162
Amortization	0	0
Impairments	0	0
Acquisitions and Adjustments	5,300	1,250
Effect of Foreign Currency	(19)	38
Ending balance, accumulated amortization of other intangible assets	19,731	14,450
Other Intangible Assets Accumulated Amortization [Member]
Finite Lived And Indefinite Lived Intangible Assets [Line Items]
Beginning balance, accumulated amortization of other intangible assets	(7,223)	(4,669)
Amortization	(6,529)	(2,546)
Impairments	0	0
Acquisitions and Adjustments	0	0
Effect of Foreign Currency	4	(8)
Ending balance, accumulated amortization of other intangible assets	$ (13,748)	$ (7,223)

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Stockholders' equity
Accounts Receivable, Allowance for Credit Loss, Current	$ 5,409	$ 5,067
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares outstanding	46,990,031	46,737,033
Treasury stock, shares	35,062,222	35,315,220

DERIVATIVES (NARRATIVE) (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Fair Value [Member]
Derivative [Line Items]
Notional Amount	$ 32.9	$ 35.5

Consolidated Statements of Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Consolidated Statements of Comprehensive Income
Revenue.	$ 2,273,062	$ 1,949,248	$ 1,643,704
Type of Revenue	us-gaap:ServiceMember	us-gaap:ServiceMember	us-gaap:ServiceMember
Operating expenses
Cost of services (exclusive of depreciation and amortization presented separately below)	$ 1,704,109	$ 1,452,719	$ 1,242,887
Selling, general and administrative	239,994	203,902	202,540
Depreciation and amortization	96,706	78,862	69,086
Restructuring charges, net	3,807	3,264	1,747
Impairment losses	11,254	5,809	3,735
Total operating expenses	2,055,870	1,744,556	1,519,995
Income from operations	217,192	204,692	123,709
Other income (expense)
Interest income	761	1,656	1,913
Interest expense	(12,384)	(17,489)	(19,113)
Other income (expense), net	2,315	(18,591)	3,902
Total other income (expense)	(9,308)	(34,424)	(13,298)
Income before income taxes	207,884	170,268	110,411
Benefit from (provision for) income taxes	(49,695)	(40,937)	(25,677)
Net income	158,189	129,331	84,734
Net income attributable to noncontrolling interest	(17,219)	(10,683)	(7,570)
Net income (loss) attributable to TTEC stockholders	140,970	118,648	77,164
Other comprehensive income (loss)
Foreign currency translation adjustments	(17,551)	29,537	6,816
Derivative valuation, gross	(11,452)	5,717	16,990
Derivative valuation, tax effect	2,981	(1,468)	(4,530)
Other, net of tax	(391)	488	(786)
Total other comprehensive income (loss)	(26,413)	34,274	18,490
Total comprehensive income (loss)	131,776	163,605	103,224
Less: Comprehensive income attributable to noncontrolling interest	(12,067)	(8,352)	(7,698)
Comprehensive income (loss) attributable to TTEC stockholders	$ 119,709	$ 155,253	$ 95,526
Weighted average shares outstanding
Basic	46,890	46,647	46,373
Diluted	47,386	46,993	46,758
Weighted Average Share Counts
Basic	$ 3.01	$ 2.54	$ 1.66
Diluted	$ 2.97	$ 2.52	$ 1.65

INCOME TAXES

12 Months Ended

Dec. 31, 2021

INCOME TAXES [ABSTRACT]

INCOME TAXES

(10)INCOME TAXES

The sources of pre-tax operating income are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Domestic	$	108,160	$	129,620	$	39,864
Foreign		99,724		40,648		70,547
Total	$	207,884	$	170,268	$	110,411

The Company’s selection of an accounting policy with respect to both the GILTI and BEAT rules is to compute the related taxes in the period the entity becomes subject to either. A reasonable estimate of the effects of these provisions has been included in the 2021 annual financial statements.

No significant changes in indefinite reinvestment assertion were made during the year. The Company has completed its analysis in regard to the full tax impact related to prior changes in indefinite reinvestment reassertion and any related taxes have been recorded. The Company generally intends to limit distributions from non-U.S. subsidiaries to cash balances available in foreign jurisdictions.

No additional income taxes have been provided for any remaining outside basis difference inherent in the Company’s foreign subsidiaries as these amounts continue to be indefinitely reinvested in foreign operations. The Company has an estimated $264 million of outside basis differences as of December 31, 2021. Determination of any unrecognized deferred tax liability related to the outside basis difference in investments in foreign subsidiaries is not practicable due to the inherent complexity of the multi-national tax environment in which the Company operates.

The components of the Company’s Provision for (benefit from) income taxes are as follows (in thousands):


	Year Ended December 31,
	2021		2020		2019
Current provision for (benefit from)
Federal	$	20,697	$	22,763	$	5,289
State		8,006		9,871		2,826
Foreign		20,161		13,496		18,938
Total current provision for (benefit from)		48,864		46,130		27,053
Deferred provision for (benefit from)
Federal		(7,017)		(2,390)		2,515
State		(402)		(254)		118
Foreign		8,250		(2,549)		(4,009)
Total deferred provision for (benefit from)		831		(5,193)		(1,376)
Total provision for (benefit from) income taxes	$	49,695	$	40,937	$	25,677

The following reconciles the Company’s effective tax rate to the federal statutory rate (in thousands):


	Year Ended December 31,
	2021		2020		2019
Income tax per U.S. federal statutory rate (21%, 21%, 21%)	$	43,655	$	35,756	$	23,186
State income taxes, net of federal deduction		4,588		6,923		3,144
Change in valuation allowances		12,567		3,903		9,832
Foreign income taxes at different rates than the U.S.		(1,416)		(783)		(3,356)
Foreign withholding taxes		(93)		106		600
Losses in international markets without tax benefits		—		(1,656)		(2,651)
Nondeductible compensation under Section 162(m)		1,494		656		668
Taxes related to equity compensation		(4,282)		(587)		(976)
Liabilities for uncertain tax positions		(790)		2,882		661
Permanent difference related to foreign exchange gains		3,362		(71)		36
(Income) losses of foreign branch operations		(187)		(10)		55
Non-taxable earnings of noncontrolling interest		(3,085)		(1,964)		(1,294)
Foreign dividend less foreign tax credits		(1,142)		(1,723)		(1,681)
Decrease (increase) to deferred tax asset - change in tax rate		—		(48)		(2,848)
State and Federal income tax credits and NOL's		(4,531)		(3,918)		(1,176)
Foreign earnings taxed currently in U.S.		1,930		1,936		2,172
Taxes related to prior year filings		(1,192)		(1,718)		(1,643)
Taxes related to acquisition accounting		—		1,317		978
Other		(1,183)		(64)		(30)
Income tax per effective tax rate	$	49,695	$	40,937	$	25,677

Effective tax rate percentage		23.9%		24.0%		23.3%

The Company’s deferred income tax assets and liabilities are summarized as follows (in thousands):


	Year Ended December 31,
	2021		2020
Deferred tax assets, gross
Accrued workers compensation, deferred compensation and employee benefits	$	8,441	$	8,574
Allowance for credit losses, insurance and other accruals		4,767		4,463
Amortization of deferred lease liabilities		15,816		20,352
Net operating losses		18,006		20,508
Equity compensation		2,302		1,660
Customer acquisition and deferred revenue accruals		20,069		6,868
Federal and state tax credits, net		2,759		2,383
Unrealized losses on derivatives		22		1,187
Impairment of equity investment		4,064		4,064
Partnership Investment		106		526
Other		5,052		5,444
Total deferred tax assets, gross		81,404		76,029
Valuation allowances		(29,620)		(18,697)
Total deferred tax assets, net		51,784		57,332
Deferred tax liabilities
Depreciation and amortization		(10,291)		(10,734)
Unrealized gain on derivatives		—		(2,959)
Contract acquisition costs		(1,831)		(3,182)
Intangible assets		(21,202)		(15,880)
Operating lease assets		(12,481)		(16,763)
Other		(184)		(480)
Total deferred tax liabilities		(45,989)		(49,998)
Net deferred tax assets	$	5,795	$	7,334

Quarterly, the Company assesses the likelihood by jurisdiction that its net deferred tax assets will be recovered. Based on the weight of all available evidence, both positive and negative, the Company records a valuation allowance against deferred tax assets when it is more-likely-than-not that a future tax benefit will not be realized.

As of December 31, 2021 the Company had approximately $6.9 million of net deferred tax assets in the U.S. and $1.2 million of net deferred tax liabilities across their foreign operations. As of December 31, 2021 the deferred tax valuation allowance was $29.6 million and related primarily to tax losses in foreign jurisdictions which do not meet the “more-likely-than-not” standard under current accounting guidance.

When there is a change in judgment concerning the recovery of deferred tax assets in future periods, a valuation allowance is recorded into earnings during the quarter in which the change in judgment occurred. In 2021, the Company made adjustments to its deferred tax assets and corresponding valuation allowances. The net change to the valuation allowance consisted of the following: a $4.0 million increase related to capital loss carry forwards not expected to be utilized in the United States; a $10.6 million increase in valuation allowance in Mexico, Netherlands, Canada and various other jurisdictions for deferred tax assets that do not meet the “more-likely-than-not” standard; and a $3.7 million release of valuation allowance in Canada, Turkey, the United Kingdom, and various other jurisdictions related to the utilization or write-off of deferred tax assets.

Activity in the Company’s valuation allowance accounts consists of the following (in thousands):


	Year Ended December 31,
	2021		2020		2019
Beginning balance	$	18,697	$	17,051	$	10,867
Additions of deferred income tax expense		14,660		4,650		7,373
Reductions of deferred income tax expense		(3,737)		(3,004)		(1,189)
Ending balance	$	29,620	$	18,697	$	17,051

As of December 31, 2021, after consideration of all tax loss carry back opportunities, the Company had tax affected tax loss carry forwards worldwide expiring as follows (in thousands):


2022	$	—
2023		94
2024		125
2025		50
After 2025		8,411
No expiration		9,326
Total	$	18,006

The Company has been granted “Tax Holidays” as an incentive to attract foreign investment by the governments of the Philippines and Costa Rica. Generally, a Tax Holiday is an agreement between the Company and a foreign government under which the Company receives certain tax benefits in that country, such as exemption from taxation on profits derived from export-related activities. In the Philippines, the Company has been granted multiple agreements, with an initial period of tax at 0% for four years, which will be fully expired in 2022 and additional periods at a reduced tax rate, expiring at various times beginning in 2030. The aggregate benefit to income tax expense for the years ended December 31, 2021, 2020 and 2019 was approximately $6.3 million, $4.4 million and $8.4 million, respectively, which had a favorable impact on diluted net income per share of $0.13, $0.09 and $0.18, respectively.

Accounting for Uncertainty in Income Taxes

In accordance with ASC 740, the Company has recorded a reserve for uncertain tax positions. The total amount of interest and penalties recognized in the accompanying Consolidated Balance Sheets and Consolidated Statements of Comprehensive Income (Loss) as of December 31, 2021, 2020 and 2019 was approximately $2.8 million, $3.0 million and $2.1 million, respectively.

The Company had a reserve for uncertain tax benefits, on a net basis, of $6.9 million and $7.5 million for the years ended December 31, 2021 and 2020, respectively.

The tabular reconciliation of the reserve for uncertain tax benefits on a gross basis without interest for the three years ended December 31, 2021 is presented below (in thousands):


Balance as of December 31, 2018	$	4,784
Additions for current year tax positions		—
Reductions in prior year tax positions		—
Balance as of December 31, 2019		4,784
Additions for current year tax positions		2,725
Reductions in prior year tax positions		—
Balance as of December 31, 2020		7,509
Additions for current year tax positions		220
Reductions in prior year tax positions		(826)
Balance as of December 31, 2021	$	6,903

At December 31, 2021, the amount of uncertain tax benefits including interest, that, if recognized, would reduce tax expense was $9.8 million. Within the next 12 months, it is expected that the amount of unrecognized tax benefits may be reduced by $1.9 million as a result of the expiration of various statutes of limitation or other confirmations of tax positions.

The Company and its domestic and foreign subsidiaries (including Percepta LLC and its domestic and foreign subsidiaries) file income tax returns as required in the U.S. federal jurisdiction and various state and foreign jurisdictions. The following table presents the major tax jurisdictions and tax years that are open as of December 31, 2021 and subject to examination by the respective tax authorities:


Tax Jurisdiction		Tax Year Ended
United States		2017 to Present
Australia		2017 to Present
India		2017 to Present
Canada		2017 to Present
Mexico		2016 to Present
Philippines		2018 to Present

The Company’s U.S. income tax returns filed for the tax years ending December 31, 2017 to present, remain open tax years. The Company has been notified of the intent to audit, or is currently under audit of, income taxes for the United States for tax year 2017 and 2018, the Philippines for tax years 2017 and 2018, the state of California in the United States for tax years 2017 and 2018, and India for tax years 2017 through 2019. During 2020, the Company confirmed the closure of the Florida audit for tax years 2017 through 2019 with no material changes to the financial statements. Although the outcome of examinations by taxing authorities are always uncertain, it is the opinion of management that the resolution of these audits will not have a material effect on the Company’s Consolidated Financial Statements.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

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+ Details

DEFERRED REVENUE AND COSTS (Tables)

12 Months Ended

Dec. 31, 2021

DEFERRED REVENUE AND COSTS [ABSTRACT]

Schedule of deferred revenue and costs

Deferred revenue in the accompanying Consolidated Balance Sheets consist of the following (in thousands):


	December 31,
	2021		2020
Deferred Revenue - Current	$	95,608	$	39,956
Deferred Revenue - Long-term (included in Other long-term liabilities)		17,078		17,434
Total Deferred Revenue	$	112,686	$	57,390

Deferred costs in the accompanying Consolidated Balance Sheets consist of the following (in thousands):


	December 31,
	2021		2020
Deferred Costs - Current (included in Prepaids and other current assets)	$	49,043	$	25,669
Deferred Costs - Long-term (included in Other long-term assets)		14,406		18,015
Total Deferred Costs	$	63,449	$	43,684

Activity in the Company’s Deferred revenue accounts consists of the following (in thousands):


Balance as of December 31, 2020	$	57,390
Additions		297,623
Amortization		(242,327)
Balance as of December 31, 2021	$	112,686

INDEBTEDNESS

12 Months Ended

Dec. 31, 2021

INDEBTEDNESS [ABSTRACT]

INDEBTEDNESS

(12)INDEBTEDNESS

Credit Facility

On November 23, 2021, we entered into a Sixth Amendment to our Amended and Restated Credit Agreement and Amendment (“the Credit Agreement”) and Restated Security Agreement originally dated June 3, 2013, (collectively, the “Credit Facility”) to convert the $300 million term loan included in the total Credit Facility commitments, that was previously agreed on March 25, 2021 as part of the Fifth Amendment to the Credit Agreement, into a $1.5 billion senior secured revolving Credit Facility with a syndicate of lenders led by Wells Fargo, National Association, as agent, swingline and fronting lender. The Credit Facility matures on November 23, 2026. We primarily use our Credit Facility to fund working capital, general operations, dividends, acquisitions and other strategic activities.

On March 25, 2021, the Company entered into a Fifth Amendment to its Credit Agreement and Credit Facility to increase the total commitments by $300 million to $1.2 billion by exercising the accordion feature that was included in the senior secured revolving credit facility. The $300 million increase was in the form of a term loan, which could be prepaid anytime and would become due February 14, 2024, contemporaneously with the expiration of the revolving line of credit.

The maximum commitment under the Credit Facility is $1.5 billion in the aggregate, if certain conditions are satisfied. The Credit Facility commitment fees are payable to the lenders in an amount equal to the unused portion of the Credit Facility multiplied by a rate per annum as determined by reference to the Company’s net leverage ratio. The Credit Agreement contains customary affirmative, negative, and financial covenants, which primarily remained unchanged from the 2019 Credit Facility. The Credit Agreement permits accounts receivable factoring up to the greater of $100 million or 25 percent of the average book value of all accounts receivable over the most recent twelve-month period. The Credit Agreement also permits the utilization of up to $100 million of limits within the Credit Facility for letters of credit to be used in the business.

Base rate loans bear interest at a rate equal to the greatest of (i) Wells Fargo’s prime rate, (ii) one half of 1% in excess of the federal funds effective rate, and (iii) 1.25% in excess of the one-month London Interbank Offered Rate (“LIBOR”); plus in each case a margin of 0% to 0.75% based on the Company’s net leverage ratio. Eurodollar loans bear interest at LIBOR plus a margin of 1.0% to 1.75% based on the Company’s net leverage ratio. Alternate currency loans bear interest at rates applicable to their respective currencies.

Letter of credit fees are one eighth of 1% of the stated amount of the letter of credit on the date of issuance, renewal or amendment, plus an annual fee equal to the borrowing margin for Eurodollar loans.

As of December 31, 2021, and 2020, the Company had borrowings of $791.0 million and $385.0 million, respectively, under its Credit Agreement and its average daily utilization was $797.2 million and $550.9 million for the years ended December 31, 2021 and 2020, respectively. The Company had increased borrowings under the Credit Agreement from late March 2020 through late September 2020, related to precautionary measures taken to proactively strengthen the Company’s cash reserves and financial flexibility in response to COVID-19 related uncertainties. As of September 30, 2020, those additional borrowings had been repaid. During early April 2021, the Company increased borrowings by approximately $500 million in connection with the acquisition of Avtex (see Note 2). Based on the current level of availability based on the covenant calculations, the Company’s remaining borrowing capacity was approximately $565 million as of December 31, 2021. As of December 31, 2021, the Company was in compliance with all covenants and conditions under its Credit Agreement.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

RELATED PARTY TRANSACTIONS (NARRATIVE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction Line Items
Sales Revenue Services Net	$ 2,273,062	$ 1,949,248	$ 1,643,704
Airmax [Member]
Related Party Transaction Line Items
Purchases from Related Party	600	400	1,100
Accounts Payable Due from Related Party	50
Welltok
Related Party Transaction Line Items
Sales Revenue Services Net	1,500	$ 3,000	$ 5,300
Unisys [Member]
Related Party Transaction Line Items
Sales Revenue Services Net	$ 400

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

SEGMENT INFORMATION (Tables)

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION [ABSTRACT]

Schedule of Segment Selected Financial Data

The following tables present certain financial data by segment (in thousands):

Year Ended December 31, 2021


							Depreciation		Income
	Gross		Intersegment		Net		&		from
	Revenue		Sales		Revenue		Amortization		Operations
TTEC Digital	$	414,148	$	(44)	$	414,104	$	30,468	$	35,437
TTEC Engage		1,858,965		(7)		1,858,958		66,238		181,755
Total	$	2,273,113	$	(51)	$	2,273,062	$	96,706	$	217,192

Year Ended December 31, 2020


							Depreciation		Income
	Gross		Intersegment		Net		&		from
	Revenue		Sales		Revenue		Amortization		Operations
TTEC Digital	$	307,278	$	(293)	$	306,985	$	14,029	$	45,315
TTEC Engage		1,642,263		—		1,642,263		64,833		159,377
Total	$	1,949,541	$	(293)	$	1,949,248	$	78,862	$	204,692

Year Ended December 31, 2019


							Depreciation		Income
	Gross		Intersegment		Net		&		from
	Revenue		Sales		Revenue		Amortization		Operations
TTEC Digital	$	305,595	$	(249)	$	305,346	$	11,216	$	38,927
TTEC Engage		1,338,358		—		1,338,358		57,870		84,782
Total	$	1,643,953	$	(249)	$	1,643,704	$	69,086	$	123,709



	For the Year Ended December 31,
	2021		2020		2019
Capital Expenditures
TTEC Digital	$	8,919	$	7,881	$	14,397
TTEC Engage		51,439		51,891		46,379
Total	$	60,358	$	59,772	$	60,776


	December 31,
	2021		2020		2019
Total Assets
TTEC Digital	$	828,255	$	277,365	$	238,081
TTEC Engage		1,168,549		1,239,043		1,138,707
Total	$	1,996,804	$	1,516,408	$	1,376,788

	December 31,
	2021		2020		2019
Goodwill
TTEC Digital	$	505,222	$	128,211	$	66,275
TTEC Engage		234,259		235,291		235,419
Total	$	739,481	$	363,502	$	301,694

Schedule of Revenue by Geographic Area

The following tables present certain financial data based upon the geographic location where the services are provided (in thousands):


	As of and for the
	Year Ended December 31,
	2021		2020		2019
Revenue
United States	$	1,524,654	$	1,338,267	$	1,002,524
Philippines		409,360		347,575		370,395
Latin America		114,967		98,633		100,117
Europe / Middle East / Africa		110,909		78,478		70,613
Asia Pacific / India		67,035		59,750		55,554
Canada		46,137		26,545		44,501
Total	$	2,273,062	$	1,949,248	$	1,643,704

Property, plant and equipment, gross
United States	$	605,582	$	576,803	$	559,326
Philippines		158,098		162,391		144,213
Latin America		47,540		46,307		45,743
Europe / Middle East / Africa		19,594		23,043		14,823
Asia Pacific / India		14,977		15,918		21,562
Canada		14,825		13,844		15,516
Total	$	860,616	$	838,306	$	801,183

Other long-term assets
United States	$	67,291	$	55,548	$	57,417
Philippines		6,187		8,756		7,892
Latin America		864		912		993
Europe / Middle East / Africa		1,735		2,328		993
Asia Pacific / India		435		1,726		1,422
Canada		761		168		252
Total	$	77,273	$	69,438	$	68,969

FAIR VALUE (Tables)

12 Months Ended

Dec. 31, 2021

FAIR VALUE [Abstract]

Schedule of Fair Value Derivative Assets and Liabilities

The following is a summary of the Company’s fair value measurements for its net derivative assets (liabilities) as of December 31, 2021 and 2020 (in thousands):

As of December 31, 2021


	Fair Value Measurements Using
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		At Fair Value
Cash flow hedges	$	—	$	(62)	$	—	$	(62)
Fair value hedges		—		198		—		198
Total net derivative asset (liability)	$	—	$	136	$	—	$	136

As of December 31, 2020


	Fair Value Measurements Using
	Quoted Prices in		Significant
	Active Markets		Other		Significant
	for Identical		Observable		Unobservable
	Assets		Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)		At Fair Value
Cash flow hedges	$	—	$	11,390	$	—	$	11,390
Fair value hedges		—		(15)		—		(15)
Total net derivative asset (liability)	$	—	$	11,375	$	—	$	11,375

Schedule of Fair Value Assets and Liabilities

The following is a summary of the Company’s fair value measurements as of December 31, 2021 and 2020 (in thousands):

As of December 31, 2021


	Fair Value Measurements Using
	Quoted Prices in				Significant
	Active Markets for		Significant Other		Unobservable
	Identical Assets		Observable Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments, net	$	—	$	136	$	—
Total assets	$	—	$	136	$	—

Liabilities
Deferred compensation plan liability	$	—	$	(30,012)	$	—
Derivative instruments, net		—		—		—
Contingent consideration		—		—		(9,600)
Total liabilities	$	—	$	(30,012)	$	(9,600)

Redeemable noncontrolling interest	$	—	$	—	$	(56,316)

As of December 31, 2020


	Fair Value Measurements Using
	Quoted Prices in				Significant
	Active Markets for		Significant Other		Unobservable
	Identical Assets		Observable Inputs		Inputs
	(Level 1)		(Level 2)		(Level 3)
Assets
Derivative instruments, net	$	—	$	11,375	$	—
Total assets	$	—	$	11,375	$	—

Liabilities
Deferred compensation plan liability	$	—	$	(23,858)	$	—
Derivative instruments, net		—		—		—
Contingent consideration		—		—		(18,032)
Total liabilities	$	—	$	(23,858)	$	(18,032)

Redeemable noncontrolling interest	$	—	$	—	$	(52,976)

Schedule of Business Acquisitions by Acquisition Contingent Consideration

A rollforward of the activity in the Company’s fair value of the contingent consideration is as follows (in thousands):


							Imputed
	December 31,						Interest /		December 31,
	2020		Acquisitions		Payments		Adjustments		2021

FCR	$	—	$	—	$	—	$	—	$	—
VF US		14,085		—		(7,414)		743		7,414
VF ASEAN		3,947		—		(2,186)		425		2,186
Total	$	18,032	$	—	$	(9,600)	$	1,168	$	9,600


							Imputed
	December 31,						Interest /		December 31,
	2019		Acquisitions		Payments		Adjustments		2020

FCR	$	6,134	$	—	$	—	$	(6,134)	$	—
VF US		—		10,943		—		3,142		14,085
VF ASEAN		—		2,778		—		1,169		3,947
Total	$	6,134	$	13,721	$	—	$	(1,823)	$	18,032

DERIVATIVES (INCOME STATEMENT CLASSIFICATION) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative Instruments, Gain (Loss) [Line Items]
Sales Revenue Services Net	$ 2,273,062	$ 1,949,248	$ 1,643,704
Other nonoperating income expense	2,315	(18,591)	$ 3,902
Designated as Hedging Instruments [Member] \| Foreign Exchange [Member] \| Cash Flow [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain or (loss) recognized in other comprehensive income (loss) - effective portion, net of tax:	3,655	1,928
Designated as Hedging Instruments [Member] \| Foreign Exchange [Member] \| Cash Flow [Member] \| Reclassification from accumulated other comprehensive income \| Revenue
Derivative Instruments, Gain (Loss) [Line Items]
Sales Revenue Services Net	4,939	2,618
Not Designated as Hedging Instruments [Member] \| Foreign Exchange [Member] \| Fair Value [Member] \| Other income (expense), net
Derivative Instruments, Gain (Loss) [Line Items]
Other nonoperating income expense	$ 191	$ 205

INCOME TAXES (SOURCES OF PRE-TAX INCOME TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Sources of pre-tax accounting income
Domestic	$ 108,160	$ 129,620	$ 39,864
Foreign	99,724	40,648	70,547
Income before income taxes	$ 207,884	$ 170,268	$ 110,411

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ Details

EMPLOYEE COMPENSATION PLANS (RSU ROLLFORWARD TABLE) (Details)	12 Months Ended
	Dec. 31, 2021 $ / shares shares
RSU Rollforward by Shares
Unvested as of beginning of period, shares \| shares	1,029,176
Granted, shares \| shares	325,078
Vested, shares \| shares	(367,597)
Cancellations/expirations, shares \| shares	(101,045)
Unvested as of end of period, shares \| shares	885,612
RSU Rollforward by Weighted Average Grant Date Fair Value
Unvested as of beginning of period, weighted average grant date fair value \| $ / shares	$ 41.12
Granted, weighted average grant date fair value \| $ / shares	96.47
Vested, weighted average grant date fair value \| $ / shares	38.57
Cancellations/expirations, weighted average grant date fair value \| $ / shares	47.87
Unvested as of end of period, weighted average grant date fair value \| $ / shares	$ 61.73

LEASES (Tables)

12 Months Ended

Dec. 31, 2021

Lease, Cost [Abstract]

Lease, Cost Table

The components of lease expense for the years ended December 31, 2021 and 2020 are as follows (in thousands):


	Location in Statements of	Year Ended December 31,
Description	Comprehensive Income (Loss)	2021		2020
Amortization of ROU assets - finance leases	Depreciation and amortization	$	6,674	$	7,661
Interest on lease liabilities - finance leases	Interest expense		136		203
Operating lease cost (cost resulting from lease payments)	Cost of services		39,087		46,375
Operating lease cost (cost resulting from lease payments)	Selling, general and administrative		2,770		2,040
Operating lease cost (cost resulting from lease payments)	Restructuring		1,614		1,232
Operating lease cost	Impairment		5,338		5,127
Operating lease cost (cost resulting from lease payments)	Other income (expense), net		1,240		1,149
Short-term lease cost	Cost of services		4,529		3,888
Variable lease cost (cost excluded from lease payments	Cost of services		1,246		(287)
Less: Sublease income	Selling, general and administrative		(807)		(836)
Less: Sublease income	Other income (expense), net		(2,584)		(2,464)
Total lease cost		$	59,243	$	64,088

Schedule of leases

Other supplementary information for the years ended December 31, 2021 and 2020 are as follows (dollar values in thousands):


	Year Ended December 31,
	2021		2020
Finance lease - operating cash flows	$	45	$	68
Finance lease - financing cash flows	$	6,385	$	7,911
Operating lease - operating cash flows (fixed payments)	$	52,358	$	55,862
New ROU assets - operating leases	$	15,280	$	6,834
Modified ROU assets - operating leases	$	736	$	6,485
New ROU assets - finance leases	$	1,141	$	2,292


	December 31, 2021		December 31, 2020
Weighted average remaining lease term - finance leases		2.34 years	2.46 years
Weighted average remaining lease term - operating leases		3.32 years	3.73 years
Weighted average discount rate - finance leases		1.85%	1.64%
Weighted average discount rate - operating leases		5.38%	6.95%

Assets and liabilities lessee [Table Text Block]

Operating and financing lease right-of-use assets and lease liabilities within our Consolidated Balance Sheet as of December 31, 2021 and 2020 are as follows (in thousands):


Description	Location in Balance Sheet	December 31, 2021		December 31, 2020
Assets
Operating lease assets	Operating lease assets	$	90,180	$	120,820
Finance lease assets	Property, plant and equipment, net		7,119		12,659
Total leased assets		$	97,299	$	133,479

Liabilities
Current
Operating	Current operating lease liabilities	$	44,460	$	43,651
Finance	Other current liabilities		3,001		6,193
Non-current
Operating	Non-current operating lease liabilities		64,419		98,277
Finance	Other long-term liabilities		2,866		4,763
Total lease liabilities		$	114,746	$	152,884

Schedule of future minimum operating lease payments

The future minimum operating lease and finance lease payments required under non-cancelable leases as of December 31, 2021 and 2020 are as follows (in thousands):

December 31, 2021


	Operating		Sub-lease		Finance
	Leases		Income		Leases
Year 1	$	48,559	$	(3,465)	$	3,026
Year 2		32,054		(3,112)		1,921
Year 3		18,862		(2,905)		870
Year 4		10,162		(2,940)		164
Year 5		3,508		(490)		—
Thereafter		6,759		—		—
Total minimum lease payments	$	119,904	$	(12,912)	$	5,981
Less imputed interest		(11,025)				(114)
Total lease liability	$	108,879			$	5,867

December 31, 2020


	Operating		Sub-lease		Finance
	Leases		Income		Leases
Year 1	$	51,120	$	(3,500)	$	6,237
Year 2		46,913		(3,489)		2,740
Year 3		31,085		(3,123)		1,631
Year 4		17,338		(2,905)		579
Year 5		8,288		(2,940)		—
Thereafter		8,397		(490)		—
Total minimum lease payments	$	163,141	$	(16,447)	$	11,187
Less imputed interest		(21,213)				(231)
Total lease liability	$	141,928			$	10,956

Schedule of future minimum finance lease payments

December 31, 2021


	Operating		Sub-lease		Finance
	Leases		Income		Leases
Year 1	$	48,559	$	(3,465)	$	3,026
Year 2		32,054		(3,112)		1,921
Year 3		18,862		(2,905)		870
Year 4		10,162		(2,940)		164
Year 5		3,508		(490)		—
Thereafter		6,759		—		—
Total minimum lease payments	$	119,904	$	(12,912)	$	5,981
Less imputed interest		(11,025)				(114)
Total lease liability	$	108,879			$	5,867

December 31, 2020


	Operating		Sub-lease		Finance
	Leases		Income		Leases
Year 1	$	51,120	$	(3,500)	$	6,237
Year 2		46,913		(3,489)		2,740
Year 3		31,085		(3,123)		1,631
Year 4		17,338		(2,905)		579
Year 5		8,288		(2,940)		—
Thereafter		8,397		(490)		—
Total minimum lease payments	$	163,141	$	(16,447)	$	11,187
Less imputed interest		(21,213)				(231)
Total lease liability	$	141,928			$	10,956

FAIR VALUE (DERIVATIVES TABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Significant Other Observable Inputs (Level 2) [Member]
Fair Value Net Derivative Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash flow hedges	$ (62)	$ 11,390
Fair value hedges	198	(15)
Total net derivative asset (liability)	136	11,375
Fair Value, Measurements, Recurring [Member]
Fair Value Net Derivative Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash flow hedges	(62)	11,390
Fair value hedges	198	(15)
Total net derivative asset (liability)	$ 136	$ 11,375

OTHER LONG TERM LIABILITIES (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Other Liabilities, Noncurrent [Abstract]
Deferred revenue - long-term	$ 17,078	$ 17,434
Deferred Compensation Liability, Classified, Noncurrent	30,012	23,858
Deferred social security taxes		15,986
Other Accrued Liabilities, Noncurrent	32,737	38,907
Other Liabilities, Noncurrent, Total	$ 79,827	$ 96,185

OVERVIEW AND BASIS OF PRESENTATION (TABLES) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Restricted Cash and Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 158,205	$ 132,914	$ 82,407
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	180,682	159,015	105,591	$ 78,237
Prepaid Expenses and Other Current Assets [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$ 22,477	$ 26,101	23,172
Other Noncurrent Assets [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents			$ 12

COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2021

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

(13)COMMITMENTS AND CONTINGENCIES

Letters of Credit

As of December 31, 2021, outstanding letters of credit under the Credit Agreement totaled $22.6 million and primarily guaranteed insurance-related obligations and workers’ compensation. As of December 31, 2021, letters of credit and contract performance guarantees issued outside of the Credit Agreement totaled $0.3 million.

Guarantees

Indebtedness under the Credit Agreement is guaranteed by certain of the Company’s present and future domestic subsidiaries.

Legal Proceedings

From time to time, the Company has been involved in legal actions, both as plaintiff and defendant, which arise in the ordinary course of business. The Company accrues for exposures associated with such legal actions to the extent that losses are deemed both probable and reasonably estimable. To the extent specific reserves have not been made for certain legal proceedings, their ultimate outcome, and consequently, an estimate of possible loss, if any, cannot reasonably be determined at this time.

Based on currently available information and advice received from counsel, the Company believes that the disposition or ultimate resolution of any current legal proceedings, except as otherwise specifically reserved for in its financial statements, will not have a material adverse effect on the Company’s financial position, cash flows or results of operations.

ACCOUNTS RECEIVABLE (SCHEDULE OF CHANGE IN ALLOWANCE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS [Abstract]
Balance, beginning balance	$ 5,067	$ 5,452	$ 5,592
Provision for credit losses	(350)	494	1,711
Uncollectible receivables written-off	(281)	(880)	(1,311)
Effect of foreign currency	(15)	1	(540)
Acquisition credit losses	988
Balance, ending balance	$ 5,409	$ 5,067	$ 5,452

DEFERRED REVENUE AND COSTS

12 Months Ended

Dec. 31, 2021

DEFERRED REVENUE AND COSTS [ABSTRACT]

DEFERRED REVENUE AND COSTS

(14)DEFERRED REVENUE AND COSTS

Deferred revenue in the accompanying Consolidated Balance Sheets consist of the following (in thousands):


	December 31,
	2021		2020
Deferred Revenue - Current	$	95,608	$	39,956
Deferred Revenue - Long-term (included in Other long-term liabilities)		17,078		17,434
Total Deferred Revenue	$	112,686	$	57,390

Deferred costs in the accompanying Consolidated Balance Sheets consist of the following (in thousands):


	December 31,
	2021		2020
Deferred Costs - Current (included in Prepaids and other current assets)	$	49,043	$	25,669
Deferred Costs - Long-term (included in Other long-term assets)		14,406		18,015
Total Deferred Costs	$	63,449	$	43,684

Activity in the Company’s Deferred revenue accounts consists of the following (in thousands):


Balance as of December 31, 2020	$	57,390
Additions		297,623
Amortization		(242,327)
Balance as of December 31, 2021	$	112,686

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

12 Months Ended

Dec. 31, 2021

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) [ABSTRACT]

Schedule of accumulated other comprehensive income (loss)


	Foreign
	Currency		Derivative
	Translation		Valuation, Net		Other, Net
	Adjustment		of Tax		of Tax		Totals

Accumulated other comprehensive income (loss) at December 31, 2018	$	(114,168)	$	(8,278)	$	(2,150)	$	(124,596)

Other comprehensive income (loss) before reclassifications		6,688		15,545		(588)		21,645
Amounts reclassified from accumulated other comprehensive income (loss)		—		(3,085)		(198)		(3,283)
Net current period other comprehensive (income) loss		6,688		12,460		(786)		18,362

Accumulated other comprehensive income (loss) at December 31, 2019	$	(107,480)	$	4,182	$	(2,936)	$	(106,234)

Accumulated other comprehensive income (loss) at December 31, 2019	$	(107,480)	$	4,182	$	(2,936)	$	(106,234)

Other comprehensive income (loss) before reclassifications		9,722		2,321		1,016		13,059
Amounts reclassified from accumulated other comprehensive income (loss)		19,619		1,928		(528)		21,019
Net current period other comprehensive income (loss)		29,341		4,249		488		34,078

Accumulated other comprehensive income (loss) at December 31, 2020	$	(78,139)	$	8,431	$	(2,448)	$	(72,156)

Accumulated other comprehensive income (loss) at December 31, 2020	$	(78,139)	$	8,431	$	(2,448)	$	(72,156)

Other comprehensive income (loss) before reclassifications		(17,408)		(12,126)		(103)		(29,637)
Amounts reclassified from accumulated other comprehensive income (loss)		—		3,655		(288)		3,367
Net current period other comprehensive income (loss)		(17,408)		(8,471)		(391)		(26,270)

Accumulated other comprehensive income (loss) at December 31, 2021	$	(95,547)	$	(40)	$	(2,839)	$	(98,426)

Schedule of reclassifications from Accumulated other comprehensive income (loss)

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 Year Ended December 31,						Comprehensive Income
	2021		2020		2019		(Loss) Classification

Derivative valuation
Loss on foreign currency forward exchange contracts	$	4,939	$	2,618	$	(4,228)	Revenue
Tax effect		(1,284)		(690)		1,143	Provision for income taxes
	$	3,655	$	1,928	$	(3,085)	Net income (loss)

Other
Actuarial loss on defined benefit plan	$	(320)	$	(588)	$	(221)	Cost of services
Tax effect		32		60		23	Provision for income taxes
	$	(288)	$	(528)	$	(198)	Net income (loss)

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (INCOME STATEMENT CLASSIFICATION TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Presentation of Income Statement Reclassifications [Line Items]
Sales Revenue Services Net	$ 2,273,062	$ 1,949,248	$ 1,643,704
Benefit from (provision for) income taxes	(49,695)	(40,937)	(25,677)
Net income	158,189	129,331	84,734
Accumulated Other Comprehensive Income (Loss)
Presentation of Income Statement Reclassifications [Line Items]
Net Income (Loss) - Other	(3,367)	(21,019)	3,283
Foreign Currency Translation Adjustment
Presentation of Income Statement Reclassifications [Line Items]
Net Income (Loss) - Other		(19,619)
Tax effect
Presentation of Income Statement Reclassifications [Line Items]
Provision for income taxes - Other	32	60	23
Derivative Valuation, Net of Tax
Presentation of Income Statement Reclassifications [Line Items]
Net Income (Loss) - Other	(3,655)	(1,928)	3,085
Cost of Services
Presentation of Income Statement Reclassifications [Line Items]
Cost of services	(320)	(588)	(221)
Reclassification from accumulated other comprehensive income
Presentation of Income Statement Reclassifications [Line Items]
Net Income (Loss) - Other	(288)	(528)	(198)
Reclassification from accumulated other comprehensive income \| Tax effect
Presentation of Income Statement Reclassifications [Line Items]
Benefit from (provision for) income taxes	(1,284)	(690)	1,143
Reclassification from accumulated other comprehensive income \| Derivative Valuation, Net of Tax
Presentation of Income Statement Reclassifications [Line Items]
Net income	3,655	1,928	(3,085)
Foreign Exchange Forward \| Reclassification from accumulated other comprehensive income \| Foreign Currency Translation Adjustment
Presentation of Income Statement Reclassifications [Line Items]
Sales Revenue Services Net	$ 4,939	$ 2,618	$ (4,228)

OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2021

OTHER INTANGIBLE ASSETS [Abstract]

Intangible Assets Disclosure [Text Block]

(7)OTHER INTANGIBLE ASSETS

Other intangible assets which are included in Other long-term assets in the accompanying Consolidated Balance Sheets consisted of the following (in thousands):


							Acquisitions		Effect of
	December 31,						and		Foreign		December 31,
	2020		Amortization		Impairments		Adjustments		Currency		2021
Customer relationships, gross	$	173,601	$	—	$	—	$	128,186	$	(1,839)	$	299,948
Customer relationships - accumulated amortization		(68,769)		(25,440)		(671)		—		1,298		(93,582)
Other intangible assets, gross		14,450		—		—		5,300		(19)		19,731
Other intangible assets - accumulated amortization		(7,223)		(6,529)		—		—		4		(13,748)
Other intangible assets, net	$	112,059	$	(31,969)	$	(671)	$	133,486	$	(556)	$	212,349


							Acquisitions		Effect of
	December 31,						and		Foreign		December 31,
	2019		Amortization		Impairments		Adjustments		Currency		2020
Customer relationships, gross	$	161,756	$	—	$	—	$	11,570	$	275	$	173,601
Customer relationships - accumulated amortization		(54,653)		(13,640)		—		—		(476)		(68,769)
Other intangible assets, gross		13,162		—		—		1,250		38		14,450
Other intangible assets - accumulated amortization		(4,669)		(2,546)		—		—		(8)		(7,223)
Other intangible assets, net	$	115,596	$	(16,186)	$	—	$	12,820	$	(171)	$	112,059

The acquisition recorded during 2021 relates to the purchase of Avtex (see Note 2 for further information).

The acquisitions recorded during 2020 relate to the purchases of Serendebyte and VoiceFoundry (see Note 2 for further information).

Digital - rogenSi

In connection with reduced profitability of the rogenSi component of the TTEC Digital segment, an interim impairment analysis was completed during the second quarter of 2019. The long-lived assets reviewed for impairment consisted of the customer relationship intangible, intellectual property, and right of use assets. The Company completed an asset group recoverability evaluation based on the current estimated cash flow based on forecasted revenues and operating income using significant inputs not observable in the market (Level 3 inputs). Based on this calculation, the Company recorded an impairment expense of $2.0 million in the three months ended June 30, 2019, which was included in Impairment losses in the Consolidated Statements of Comprehensive Income (Loss). As part of the $2.0 million impairment $0.4 million was assigned to the customer relationship intangible asset and $0.2 million to the IP intangible asset. At December 31, 2020, the Company reviewed the evaluation completed as of June 30, 2019, and noted no material changes, thus no additional impairment is required.

Customer relationships are being amortized over the remaining weighted average useful life of 7.1 years and other intangible assets are being amortized over the remaining weighted average useful life of 1.3 years. Amortization expense related to intangible assets was $32.0 million, $16.2 million and $10.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Expected future amortization of other intangible assets as of December 31, 2021 is as follows (in thousands):


2022	$	31,147
2023		29,935
2024		27,358
2025		25,324
2026		25,264
Thereafter		73,321
Total	$	212,349

WEIGHTED AVERAGE SHARE COUNTS (NARRATIVE) (Details) - shares shares in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Restricted Stock Units (RSUs) [Member]
Anti-dilutive options to purchase common stock [Line Items]
Anti-dilutive securities	124	8	28

RESTRUCTURING CHARGES, INTEGRATION CHARGES AND IMPAIRMENT (Tables)

12 Months Ended

Dec. 31, 2021

RESTRUCTURING CHARGES AND IMPAIRMENT LOSSES [Abstract]

Schedule of Restructuring Liabilities


	Year Ended December 31,
	2021		2020		2019
Reduction in force
TTEC Digital	$	858	$	668	$	141
TTEC Engage		310		396		894
Total	$	1,168	$	1,064	$	1,035


	Year Ended December 31,
	2021		2020		2019
Facility exit and other charges
TTEC Digital	$	10	$	90	$	41
TTEC Engage		2,629		2,110		671
Total	$	2,639	$	2,200	$	712

Schedule of Restructuring Liability Rollforward

A rollforward of the activity in the Company’s restructuring accruals for the years ended December 31, 2021 and 2020, respectively, is as follows (in thousands):


	Reduction		Facility Exit and
	in Force		Other Charges		Total

Balance as of December 31, 2019	$	251	$	74	$	325
Expense		1,064		2,200		3,264
Payments		(1,067)		(1,729)		(2,796)
Changes due to foreign currency		(14)		(2)		(16)
Changes in estimates		(78)		—		(78)
Balance as of December 31, 2020		156		543		699
Expense		1,252		2,639		3,891
Payments		(510)		(2,672)		(3,182)
Changes due to foreign currency		(6)		1		(5)
Changes in estimates		(84)		—		(84)
Balance as of December 31, 2021	$	808	$	511	$	1,319

ACCOUNTING POLICIES (Policies)

12 Months Ended

Dec. 31, 2021

OVERVIEW AND BASIS OF PRESENTATION [Abstract]

Overview

Overview

The Company operates and reports its financial results of operation through two business segments: TTEC Digital and TTEC Engage.

●

Basis Of Presentation

Basis of Presentation

Use of Estimates

Use of Estimates

Concentration of Credit Risk

Concentration of Credit Risk

Fair Value of Financial Instruments

Fair Value of Financial Instruments

Fair values of cash equivalents, accounts receivable, accounts payable and debt approximate the carrying amounts because of their short-term nature.

Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]

Cash, Cash Equivalents and Restricted Cash


	December 31, 2021		December 31, 2020		December 31, 2019

Cash and cash equivalents	$	158,205	$	132,914	$	82,407
Restricted cash included in "Prepaid and other current assets"		22,477		26,101		23,172
Restricted cash included in "Other noncurrent assets"		—		—		12
Total	$	180,682	$	159,015	$	105,591

Accounts Receivable

Accounts Receivable

Derivatives.

Derivatives

Property, Plant and Equipment, Policy

Property, Plant and Equipment

Property, plant and equipment are stated at historical cost less accumulated depreciation and amortization. Maintenance, repairs and minor renewals are expensed as incurred.

Depreciation and amortization are computed on the straight-line method based on the following estimated useful lives:


Building		30 years
Computer equipment and software		3 to 7 years
Telephone equipment		4 to 7 years
Furniture and fixtures		5 years
Leasehold improvements		Lesser of economic useful life (typically 10 years) or original lease term
Other		3 to 7 years

Software Development Costs

Software Development Costs

Goodwill Policy

Goodwill

Other Intangible Assets

Other Intangible Assets

Restructuring Liabilities

Restructuring Liabilities

Income Taxes.

Income Taxes

Revenue Recognition

Revenue Recognition

Incremental Costs to Obtain a Contract

Practical Expedients and Exemptions

Lease Expense

Lease Expense

Equity-Based Compensation Expense

Equity-Based Compensation Expense

Foreign Currency Translation

Foreign Currency Translation

Recently Issued Accounting Pronouncements

Recently Adopted Accounting Pronouncements

Other Accounting Pronouncements

PROPERTY PLANT AND EQUIPMENT (NARRATIVE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Depreciation and amortization expense for property, plant and equipment	$ 63,500	$ 62,700	$ 57,500
Impairment losses	11,254	5,809	$ 3,735
Property, plant and equipment, net	168,404	178,706
Software Development [Member]
Impairment losses	3,200
Property, plant and equipment, net	$ 19,400	$ 16,200

GOODWILL (Tables)

12 Months Ended

Dec. 31, 2021

GOODWILL [ABSTRACT]

Schedule of Goodwill Rollforward

Goodwill consisted of the following (in thousands):


							Effect of
	December 31,		Acquisitions /				Foreign		December 31,
	2020		Adjustments		Impairments		Currency		2021

TTEC Digital	$	128,211	$	378,908	$	—	$	(1,897)	$	505,222
TTEC Engage		235,291		—		—		(1,032)		234,259
Total	$	363,502	$	378,908	$	—	$	(2,929)	$	739,481


							Effect of
	December 31,		Acquisitions /				Foreign		December 31,
	2019		Adjustments		Impairments		Currency		2020

TTEC Digital	$	66,275	$	59,341	$	—	$	2,595	$	128,211
TTEC Engage		235,419		(254)		—		126		235,291
Total	$	301,694	$	59,087	$	—	$	2,721	$	363,502

GOODWILL (NARRATIVE) (Details)	12 Months Ended
GOODWILL (NARRATIVE) (Details)	Dec. 31, 2021
Revenue Projections [Member] \| Minimum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	2.5%
Revenue Projections [Member] \| Maximum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	28.8%
EBITDA Margin [Member] \| Minimum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	11.5%
EBITDA Margin [Member] \| Maximum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	21.1%
Income Tax Rate [Member] \| Minimum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	26.1%
Income Tax Rate [Member] \| Maximum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	26.9%
Capital Expenditure [Member] \| Minimum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	$3.9
Capital Expenditure [Member] \| Maximum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	$81.3
Discount Rate Range [Member] \| Minimum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	8.5%
Discount Rate Range [Member] \| Maximum
ValuationAllowanceForImpairmentOfRecognizedServicingAssetsLineItems
Goodwill, Impaired, Method for Fair Value Determination	12.5%

SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2021

SEGMENT INFORMATION [ABSTRACT]

SEGMENT INFORMATION

(3)SEGMENT INFORMATION

The Company reports the following two segments:

TTEC Digital is one of the largest pure-play CX technology service providers with expertise in CX strategy, digital consulting and transformation enabled by proprietary CX applications and technology partnerships. TTEC Digital designs, builds, and operates robust digital experiences for clients and their customers through the contextual integration and orchestration of CRM, data, analytics, CXaaS technology, and intelligent automation to ensure high-quality, scalable CX outcomes.

●

Technology Services: Our technology services design, integrate, and operate highly scalable, digital omnichannel technology solutions in the cloud, on premise, or hybrid environment, including journey orchestration, automation and AI, knowledge management, and workforce productivity.

●

Professional Services: Our management consulting practices deliver customer experience strategy, analytics, process optimization, and learning and performance services.

TTEC Engage provides the digitally enabled CX managed services to support our clients’ end-to-end customer interaction delivery at scale. The segment delivers omnichannel customer care, tech support, order fulfillment, customer acquisition, growth, and retention services with industry specialization and distinctive CX capabilities for hypergrowth brands. TTEC Engage also delivers digitally enabled back office and industry specific specialty services including AI operations, content moderation, and fraud management services.

●

Customer Acquisition, Growth, and Retention Services: Our customer growth and acquisition services optimize the buying journeys for acquiring new customers by leveraging technology and analytics to deliver personal experiences that we believe increase the quantity and quality of leads and customers.

●

Customer Care, Tech Support, and Order Fulfillment Services: Our customer care, technical support, and order fulfillment services provide turnkey contact center solutions, including digital omnichannel technologies, associate recruiting and training, facilities, and operational expertise to create exceptional customer experiences across all touchpoints.

●

Digitally enabled back office and specialty services: Our digital AI operations, content moderation, and fraud detection and prevention services provide clients with data tagging and annotation capabilities to train and enable AI platforms, community content moderation, and compliance to meet client content standards, and proactive fraud solutions to assist our clients in the detection and prevention of fraud.

The Company allocates to each segment its portion of corporate operating expenses. All intercompany transactions between the reported segments for the periods presented have been eliminated.

The following tables present certain financial data by segment (in thousands):

Year Ended December 31, 2021


							Depreciation		Income
	Gross		Intersegment		Net		&		from
	Revenue		Sales		Revenue		Amortization		Operations
TTEC Digital	$	414,148	$	(44)	$	414,104	$	30,468	$	35,437
TTEC Engage		1,858,965		(7)		1,858,958		66,238		181,755
Total	$	2,273,113	$	(51)	$	2,273,062	$	96,706	$	217,192

Year Ended December 31, 2020


							Depreciation		Income
	Gross		Intersegment		Net		&		from
	Revenue		Sales		Revenue		Amortization		Operations
TTEC Digital	$	307,278	$	(293)	$	306,985	$	14,029	$	45,315
TTEC Engage		1,642,263		—		1,642,263		64,833		159,377
Total	$	1,949,541	$	(293)	$	1,949,248	$	78,862	$	204,692

Year Ended December 31, 2019


							Depreciation		Income
	Gross		Intersegment		Net		&		from
	Revenue		Sales		Revenue		Amortization		Operations
TTEC Digital	$	305,595	$	(249)	$	305,346	$	11,216	$	38,927
TTEC Engage		1,338,358		—		1,338,358		57,870		84,782
Total	$	1,643,953	$	(249)	$	1,643,704	$	69,086	$	123,709



	For the Year Ended December 31,
	2021		2020		2019
Capital Expenditures
TTEC Digital	$	8,919	$	7,881	$	14,397
TTEC Engage		51,439		51,891		46,379
Total	$	60,358	$	59,772	$	60,776


	December 31,
	2021		2020		2019
Total Assets
TTEC Digital	$	828,255	$	277,365	$	238,081
TTEC Engage		1,168,549		1,239,043		1,138,707
Total	$	1,996,804	$	1,516,408	$	1,376,788

	December 31,
	2021		2020		2019
Goodwill
TTEC Digital	$	505,222	$	128,211	$	66,275
TTEC Engage		234,259		235,291		235,419
Total	$	739,481	$	363,502	$	301,694

The following tables present certain financial data based upon the geographic location where the services are provided (in thousands):


	As of and for the
	Year Ended December 31,
	2021		2020		2019
Revenue
United States	$	1,524,654	$	1,338,267	$	1,002,524
Philippines		409,360		347,575		370,395
Latin America		114,967		98,633		100,117
Europe / Middle East / Africa		110,909		78,478		70,613
Asia Pacific / India		67,035		59,750		55,554
Canada		46,137		26,545		44,501
Total	$	2,273,062	$	1,949,248	$	1,643,704

Property, plant and equipment, gross
United States	$	605,582	$	576,803	$	559,326
Philippines		158,098		162,391		144,213
Latin America		47,540		46,307		45,743
Europe / Middle East / Africa		19,594		23,043		14,823
Asia Pacific / India		14,977		15,918		21,562
Canada		14,825		13,844		15,516
Total	$	860,616	$	838,306	$	801,183

Other long-term assets
United States	$	67,291	$	55,548	$	57,417
Philippines		6,187		8,756		7,892
Latin America		864		912		993
Europe / Middle East / Africa		1,735		2,328		993
Asia Pacific / India		435		1,726		1,422
Canada		761		168		252
Total	$	77,273	$	69,438	$	68,969

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

DERIVATIVES (BALANCE SHEET CLASSIFICATION) (Details) - Foreign Exchange [Member] - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Designated as Hedging Instruments [Member] \| Cash Flow [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	$ (62)	$ 11,390
Designated as Hedging Instruments [Member] \| Cash Flow [Member] \| Prepaids And Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	2,272	6,939
Designated as Hedging Instruments [Member] \| Cash Flow [Member] \| Other assets [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	611	4,528
Designated as Hedging Instruments [Member] \| Cash Flow [Member] \| Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	(1,527)	(73)
Designated as Hedging Instruments [Member] \| Cash Flow [Member] \| Other long-term liabilities
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	(1,418)	(4)
Not Designated as Hedging Instruments [Member] \| Fair Value [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	198	(15)
Not Designated as Hedging Instruments [Member] \| Fair Value [Member] \| Prepaids And Other Current Assets [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	204	103
Not Designated as Hedging Instruments [Member] \| Fair Value [Member] \| Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Total net derivative asset (liability)	$ (6)	$ (118)

ACQUISITIONS AND DIVESTITURES (Tables)

12 Months Ended

Dec. 31, 2021

Avtex

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the estimated fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Preliminary
	Estimate of
	Acquisition Date
	Fair Value
Cash	$	18,638
Accounts receivable, net		22,214
Prepaid expenses		26,389
Current income tax receivables		93
Net fixed assets		3,162
Right of use assets		3,614
Other Assets		480
Tradename		5,300
Intellectual property intangible		770
Customer relationships		128,200
Goodwill		378,882
	$	587,742

Accounts payable	$	20,580
Accrued employee compensation		4,325
Accrued expenses		250
Right of use liability - current		678
Deferred revenue		56,765
Accrued income taxes		332
Deferred tax liability		1,930
Right of use liability - noncurrent		2,936
	$	87,796

Total purchase price	$	499,946

VoiceFoundry US

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Accounts receivable, net	$	3,758
Prepaid and other expenses		345
Tradename		400
Non-compete		150
Customer relationships		6,550
Goodwill		35,881
	$	47,084

Accounts payable	$	289
Accrued employee compensation		741
Deferred revenue		170
	$	1,200

Total purchase price	$	45,884

VoiceFoundry ASEAN

Schedule of Assets Acquired and Liabilities Assumed

A multi-period excess earnings method under the income approach was used to estimate the fair value of the customer relationships intangible asset. The significant assumption utilized in calculating the fair value of the customer relationships intangible asset was the customer attrition rate.

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Cash	$	1,300
Accounts receivable, net		937
Prepaid and other expenses		115
Income tax receivable		30
Property, plant and equipment		274
Tradename		300
Customer relationships		3,100
Goodwill		14,418
	$	20,474

Accounts payable	$	960
Accrued employee compensation		113
Deferred revenue		236
Deferred tax liability		1,013
Other accrued liabilities		(78)
	$	2,244

Total purchase price	$	18,230

FCR

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Cash	$	5,225
Accounts receivable, net		10,659
Prepaid expenses		357
Property and equipment		6,006
Other assets		224
Operating lease assets		5,127
Tradename		8,600
Customer relationships		38,540
Goodwill		96,739
	$	171,477

Accounts payable	$	388
Operating lease liability - short-term		1,160
Accrued employee compensation and benefits		4,049
Accrued expenses		72
Operating lease liability - long-term		3,967
	$	9,636

Total purchase price	$	161,841

Serendebyte

Schedule of Assets Acquired and Liabilities Assumed

The following summarizes the fair values of the identifiable assets acquired and liabilities assumed as of the acquisition date (in thousands):


	Acquisition Date
	Fair Value
Cash	$	3,123
Accounts receivable, net		1,243
Prepaid and other expenses		1,327
Property, plant and equipment		20
Deferred tax assets		14
Tradename		400
Customer relationships		1,920
Goodwill		9,033
	$	17,080

Accounts payable	$	120
Accrued employee compensation and benefits		1,025
Accrued income taxes		170
Accrued expenses		2,208
Deferred tax liabilities - long-term		629
	$	4,152

Total purchase price	$	12,928

WEIGHTED AVERAGE SHARE COUNTS (Tables)

12 Months Ended

Dec. 31, 2021

Weighted Average Share Counts

Schedule of Diluted Shares Calculation

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


	Year Ended December 31,
	2021	2020	2019

Shares used in basic earnings per share calculation	46,890	46,647	46,373
Effect of dilutive securities:
Restricted stock units	468	318	349
Performance-based restricted stock units	28	28	36
Total effects of dilutive securities	496	346	385
Shares used in dilutive earnings per share calculation	47,386	46,993	46,758

LEASE (FUTURE MINIMUM LEASE PAYMENTS TABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Finance Leases - Year 1	$ 3,026	$ 6,237
Finance Leases - Year 2	1,921	2,740
Finance Leases - Year 3	870	1,631
Finance Leases - Year 4	164	579
Finance Leases - Year 5		0
Thereafter		0
Total minimum lease payments	5,981	11,187
Less: imputed interest	(114)	(231)
Total lease liability	$ 5,867	$ 10,956
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Other current liabilities, Other liabilities, noncurrent	Other current liabilities, Other liabilities, noncurrent
Finance Lease, Liability, Payments, Due	$ 5,981	$ 11,187
Operating Leases [Member]
Lessee, Lease, Description [Line Items]
Operating Leases - Year 1	48,559	51,120
Operating Leases - Year 2	32,054	46,913
Operating Leases - Year 3	18,862	31,085
Operating Leases - Year 4	10,162	17,338
Operating Leases - Year 5	3,508	8,288
Thereafter	6,759	8,397
Total minimum lease payments	119,904	163,141
Less: Imputed Interest.	(11,025)	(21,213)
Total lease liability	108,879	141,928
Sublease Income [Member]
Lessee, Lease, Description [Line Items]
Sub-lease income - Year 1	(3,465)	(3,500)
Sub-lease income - Year 2	(3,112)	(3,489)
Sub-lease income - Year 3	(2,905)	(3,123)
Sub-lease income - Year 4	(2,940)	(2,905)
Sub-lease income - Year 5	(490)	(2,940)
Sub-lease income - thereafter		(490)
Sublease Income Total	(12,912)	(16,447)
Sublease Income Total	$ 12,912	$ 16,447

RESTRUCTURING AND INTEGRATION CHARGES AND IMPAIRMENT LOSSES (NARRATIVE) (Details) - USD ($) $ in Thousands	3 Months Ended			12 Months Ended
	Dec. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reduction in force				$ 1,168	$ 1,064	$ 1,035
Restructuring Reserve, Period Increase (Decrease)				400
Facility exit charges				$ 2,639	2,200	712
Impaired Long-Lived Assets Held and Used, Asset Description				During each of the periods presented, the Company evaluated the recoverability of its leasehold improvement assets at certain customer engagement centers.
Impaired Long-Lived Assets Held and Used, Method for Determining Fair Value				To determine fair value, the Company used Level 3 inputs in its discounted cash flows analysis. Assumptions included the amount and timing of estimated future cash flows and assumed discount rates.
Restructuring reserve decrease
Restructuring Reserve, Period Increase (Decrease)				$ 700
Leasehold Improvements
Restructuring impairment losses				7,400	5,800	2,700
TTEC Digital
Reduction in force				858	668	141
Facility exit charges				10	90	41
TTEC Engage
Reduction in force				310	396	894
Facility exit charges				$ 2,629	$ 2,110	$ 671
Cost of Services
Restructuring Reserve, Period Increase (Decrease)			$ 3,000
Cost of Services \| Restructuring reserve decrease
Restructuring Reserve, Period Increase (Decrease)	$ (300)	$ (1,600)

ACQUISITIONS ASSETS ACQUIRED (TABLES) (Details) - USD ($) $ in Thousands	Apr. 08, 2021	Dec. 31, 2021	Dec. 31, 2020	Nov. 04, 2020	Aug. 05, 2020	Feb. 07, 2020	Dec. 31, 2019	Oct. 26, 2019
Business Acquisition [Line Items]
Operating lease assets		$ 90,180	$ 120,820
Deferred tax assets.		51,784	57,332
Goodwill		739,481	363,502				$ 301,694
Operating lease liability - short-term		44,460	43,651
Accrued employee compensation and benefits		156,324	163,658
Operating lease liability - long-term		$ 64,419	$ 98,277
Avtex
Business Acquisition [Line Items]
Cash	$ 18,638
Accounts receivable.	22,214
Prepaid Expenses	26,389
Other assets	480
Operating lease assets	3,614
Income Taxes Receivable	93
Fixed Assets Acquired	3,162
Goodwill	378,882
Total assets acquired	587,742
Accounts payable	20,580
Operating lease liability - short-term	678
Accrued employee compensation and benefits	4,325
Accrued income taxes	332
Accrued expenses	250
Operating lease liability - long-term	2,936
Deferred tax liabilities	1,930
Deferred revenue.	56,765
Total liabilities assumed	87,796
Total purchase price	499,946
Avtex \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets	5,300
Avtex \| Intellectual Property [Member]
Business Acquisition [Line Items]
Intangible assets	770
Avtex \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets	$ 128,200
VoiceFoundry US
Business Acquisition [Line Items]
Accounts receivable.					$ 3,758
Prepaid Expenses					345
Goodwill					35,881
Total assets acquired					47,084
Accounts payable					289
Accrued employee compensation and benefits					741
Deferred revenue.					170
Total liabilities assumed					1,200
Total purchase price					45,884
VoiceFoundry US \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets					400
VoiceFoundry US \| Noncompete Agreements [Member]
Business Acquisition [Line Items]
Intangible assets					150
VoiceFoundry US \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets					$ 6,550
VoiceFoundry ASEAN
Business Acquisition [Line Items]
Cash				$ 1,300
Accounts receivable.				937
Prepaid Expenses				115
Property, plant and equipment.				274
Income Taxes Receivable				30
Goodwill				14,418
Total assets acquired				20,474
Accounts payable				960
Accrued employee compensation and benefits				113
Deferred tax liabilities				1,013
Deferred revenue.				236
Other accrued assets liabilities, net				(78)
Total liabilities assumed				2,244
Total purchase price				18,230
VoiceFoundry ASEAN \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets				300
VoiceFoundry ASEAN \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets				$ 3,100
Serendebyte
Business Acquisition [Line Items]
Cash						$ 3,123
Accounts receivable.						1,243
Prepaid Expenses						1,327
Property, plant and equipment.						20
Deferred tax assets.						14
Goodwill						9,033
Total assets acquired						17,080
Accounts payable						120
Accrued employee compensation and benefits						1,025
Accrued income taxes						170
Accrued expenses						2,208
Deferred tax liabilities						629
Total liabilities assumed						4,152
Total purchase price						12,928
Serendebyte \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets						400
Serendebyte \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets						$ 1,920
FCR
Business Acquisition [Line Items]
Cash								$ 5,225
Accounts receivable.								10,659
Prepaid Expenses								357
Property, plant and equipment.								6,006
Other assets								224
Operating lease assets								5,127
Goodwill								96,739
Total assets acquired								171,477
Accounts payable								388
Operating lease liability - short-term								1,160
Accrued employee compensation and benefits								4,049
Accrued expenses								72
Operating lease liability - long-term								3,967
Total liabilities assumed								9,636
Total purchase price								161,841
FCR \| Trade Names [Member]
Business Acquisition [Line Items]
Intangible assets								8,600
FCR \| Customer Relationships [Member]
Business Acquisition [Line Items]
Intangible assets								$ 38,540

DEFERRED REVENUE AND COSTS (DEFERRED COSTS CLASSIFICATION TABLE) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
DEFERRED REVENUE AND COSTS [ABSTRACT]
Deferred Costs - Current	$ 49,043	$ 25,669
Deferred Costs - Long-term	14,406	18,015
Total Deferred Costs	$ 63,449	$ 43,684

ACCOUNTS RECEIVABLE (SIGNIFICANT CLIENTS TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Concentration Risk, Percentage of Revenue from Major Customer
Accounts receivable, net	$ 357,310	$ 378,397
Revenue \| Customer Concentration Risk \| Financial Services Client
Concentration Risk, Percentage of Revenue from Major Customer
Concentration risk percentage	12.00%	13.00%	3.00%
Accounts Receivable \| Credit Concentration Risk \| Financial Services Client
Concentration Risk, Percentage of Revenue from Major Customer
Accounts receivable, net	$ 15,483	$ 58,960	$ 4,321

DEFERRED REVENUE (SCHEDULE OF CHANGES IN DEFERRED REVENUE) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($)
DEFERRED REVENUE AND COSTS [ABSTRACT]
Deferred Revenue, Beginning Balance	$ 57,390
Deferred Revenue, Additions	297,623
Amortization	(242,327)
Deferred Revenue, Ending Balance	$ 112,686

INCOME TAXES (UNCERTAIN TAX BENEFITS TABLE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Reconciliation of Unrecognized Tax Benefits Rollforward
Beginning balance, unrecognized tax benefits	$ 7,509	$ 4,784	$ 4,784
Additions for current year tax positions	220	2,725	0
Reductions in prior year tax positions	(826)	0	0
Ending balance, unrecognized tax benefits	$ 6,903	$ 7,509	$ 4,784

GOODWILL (GOODWILL ROLLFORWARD) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Line Items]
Beginning balance, goodwill	$ 363,502	$ 301,694
Acquisitions / Adjustments Increase (Decrease)	378,908	59,087
Effect of Foreign Currency	(2,929)	2,721
Ending balance, goodwill	739,481	363,502
TTEC Digital
Goodwill [Line Items]
Beginning balance, goodwill	128,211	66,275
Acquisitions / Adjustments Increase (Decrease)	378,908	59,341
Effect of Foreign Currency	(1,897)	2,595
Ending balance, goodwill	505,222	128,211
TTEC Engage
Goodwill [Line Items]
Beginning balance, goodwill	235,291	235,419
Acquisitions / Adjustments Increase (Decrease)	0	(254)
Effect of Foreign Currency	(1,032)	126
Ending balance, goodwill	$ 234,259	$ 235,291

ACCOUNTS RECEIVABLE AND SIGNIFICANT CLIENTS(NARRATIVE) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Entity Wide Revenue Major Customer Line Items
Revenue.	$ 2,273,062	$ 1,949,248	$ 1,643,704
Customer Concentration Risk \| Minimum
Entity Wide Revenue Major Customer Line Items
Revenue.	$ 100,000
Revenue \| Customer Concentration Risk
Entity Wide Revenue Major Customer Line Items
Concentration Risk, Customer	one	no
Revenue \| Customer Concentration Risk \| Financial Services Client
Entity Wide Revenue Major Customer Line Items
Concentration risk percentage	12.00%	13.00%	3.00%

- Definition

+ References

+ Details

LEASE TERM AND DISCOUNT RATE (Details)	Dec. 31, 2021	Dec. 31, 2020
LEASES [ABSTRACT]
Finance Lease, Weighted Average Remaining Lease Term	2 years 4 months 4 days	2 years 5 months 18 days
Operating Lease, Weighted Average Remaining Lease Term	3 years 3 months 27 days	3 years 8 months 26 days
Finance Lease, Weighted Average Discount Rate, Percent	1.85%	1.64%
Operating Lease, Weighted Average Discount Rate, Percent	5.38%	6.95%

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from investing activities
Cash acquired from acquisition	$ 18,638	$ 4,423	$ 4,547

DERIVATIVES (OCI ROLLFORWARD) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
DERIVATIVES [ABSTRACT]
Aggregate unrealized net gain/(loss) at beginning of year	$ 8,431	$ 4,182	$ (8,278)
Add: Net gain/(loss) from change in fair value of cash flow hedges	(12,126)	2,321	15,545
Less: Net (gain)/loss reclassified to earnings from effective hedges	3,655	1,928	(3,085)
Aggregate unrealized net gain/(loss) at end of period	$ (40)	$ 8,431	$ 4,182

COMMITMENTS AND CONTINGENCIES (NARRATIVE) (Details) $ in Millions	Dec. 31, 2021 USD ($)
COMMITMENTS AND CONTINGENCIES [Abstract]
Letters of credit issued under credit facility	$ 22.6
Letters Of Credit Issued Outside Line Of Credit Facility	$ 0.3

INCOME TAXES (OPERATING LOSS CARRY FORWARDS TABLE) (Details) $ in Thousands	Dec. 31, 2021 USD ($)
INCOME TAXES [ABSTRACT]
2022	$ 0
2023	94
2024	125
2025	50
After 2025	8,411
No expiration	9,326
Total	$ 18,006

DERIVATIVES

12 Months Ended

Dec. 31, 2021

DERIVATIVES [ABSTRACT]

DERIVATIVES

(8)DERIVATIVES

Cash Flow Hedges

The Company enters into foreign exchange related derivatives. Foreign exchange derivatives entered into consist of forward and option contracts to reduce the Company’s exposure to foreign currency exchange rate fluctuations that are associated with forecasted revenue earned in foreign locations. Upon proper qualification, these contracts are designated as cash flow hedges. It is the Company’s policy to only enter into derivative contracts with investment grade counterparty financial institutions, and correspondingly, the fair value of derivative assets considers, among other factors, the creditworthiness of these counterparties. Conversely, the fair value of derivative liabilities reflects the Company’s creditworthiness. As of December 31, 2021, the Company had not experienced, nor does it anticipate, any issues related to derivative counterparty defaults. The following table summarizes the aggregate unrealized net gain or loss in Accumulated other comprehensive income (loss) for the years ended December 31, 2021, 2020 and 2019 (in thousands and net of tax):


	Year Ended December 31,
	2021		2020		2019

Aggregate unrealized net gain/(loss) at beginning of period	$	8,431	$	4,182	$	(8,278)
Add: Net gain/(loss) from change in fair value of cash flow hedges		(12,126)		2,321		15,545
Less: Net (gain)/loss reclassified to earnings from effective hedges		3,655		1,928		(3,085)
Aggregate unrealized net gain/(loss) at end of period	$	(40)	$	8,431	$	4,182

The Company’s foreign exchange cash flow hedging instruments as of December 31, 2021 and 2020 are summarized as follows (in thousands). All hedging instruments are forward contracts.


	Local
	Currency	U.S. Dollar			% Maturing		Contracts
	Notional	Notional			in the next		Maturing
As of December 31, 2021	Amount	Amount			12 months		Through
Canadian Dollar	9,000	$	7,022		100.0	%	June 2022
Philippine Peso	8,472,000		164,295	⁽¹⁾	51.7	%	December 2024
Mexican Peso	1,422,500		63,002		43.2	%	December 2024
		$	234,319


	Local
	Currency	U.S. Dollar
	Notional	Notional
As of December 31, 2020	Amount	Amount
Canadian Dollar	2,450	$	1,853
Philippine Peso	6,725,000		130,468	⁽¹⁾
Mexican Peso	1,159,500		52,398
		$	184,719

(1)	Includes contracts to purchase Philippine pesos in exchange for New Zealand dollars and Australian dollars, which are translated into equivalent U.S. dollars on December 31, 2021 and December 31, 2020.

Fair Value Hedges

The Company enters into foreign exchange forward contracts to economically hedge against foreign currency exchange gains and losses on certain receivables and payables of the Company’s foreign operations. Changes in the fair value of derivative instruments designated as fair value hedges are recognized in earnings in Other income (expense), net. As of December 31, 2021 and 2020, the total notional amount of the Company’s forward contracts used as fair value hedges was $32.9 million and $35.5 million, respectively.

Derivative Valuation and Settlements

The Company’s derivatives as of December 31, 2021 and 2020 were as follows (in thousands):


	December 31, 2021
	Designated		Not Designated
	as Hedging		as Hedging
Designation:	Instruments		Instruments
	Foreign		Foreign
Derivative contract type:	Exchange		Exchange
Derivative classification:	Cash Flow		Fair Value

Fair value and location of derivative in the Consolidated Balance Sheet:
Prepaids and other current assets	$	2,272	$	204
Other long-term assets		611		—
Other current liabilities		(1,527)		(6)
Other long-term liabilities		(1,418)		—
Total fair value of derivatives, net	$	(62)	$	198


	December 31, 2020
	Designated		Not Designated
	as Hedging		as Hedging
Designation:	Instruments		Instruments
	Foreign		Foreign
Derivative contract type:	Exchange		Exchange
Derivative classification:	Cash Flow		Fair Value

Fair value and location of derivative in the Consolidated Balance Sheet:
Prepaids and other current assets	$	6,939	$	103
Other long-term assets		4,528		—
Other current liabilities		(73)		(118)
Other long-term liabilities		(4)		—
Total fair value of derivatives, net	$	11,390	$	(15)

The effect of derivative instruments on the Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2021 and 2020 were as follows (in thousands):


	Year Ended December 31,
	2021		2020

	Designated as Hedging
Designation:	Instruments
Derivative contract type:	Foreign Exchange
Derivative classification:	Cash Flow

Amount of gain or (loss) recognized in Other comprehensive income (loss) - effective portion, net of tax	$	3,655	$	1,928

Amount and location of net gain or (loss) reclassified from Accumulated OCI to income - effective portion:
Revenue	$	4,939	$	2,618


	Year Ended December 31,
	2021		2020

Designation:	Not Designated as Hedging Instruments
Derivative contract type:	Foreign Exchange
Derivative classification:	Fair Value

Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss):
Other income (expense), net	$	191	$	205