Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Oct. 30, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'SYKES ENTERPRISES INC | ' |
Entity Central Index Key | '0001010612 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 43,978,408 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $196,735 | $187,322 |
Receivables, net | 274,207 | 247,633 |
Prepaid expenses | 17,233 | 12,370 |
Other current assets | 21,280 | 20,017 |
Total current assets | 509,455 | 467,342 |
Property and equipment, net | 114,868 | 101,295 |
Goodwill, net | 201,514 | 204,231 |
Intangibles, net | 80,189 | 92,037 |
Deferred charges and other assets | 43,865 | 43,784 |
Total assets | 949,891 | 908,689 |
Current liabilities: | ' | ' |
Accounts payable | 23,432 | 24,985 |
Accrued employee compensation and benefits | 78,487 | 73,103 |
Current deferred income tax liabilities | 916 | 92 |
Income taxes payable | 1,880 | 800 |
Deferred revenue | 37,187 | 34,283 |
Other accrued expenses and current liabilities | 32,647 | 31,320 |
Total current liabilities | 174,549 | 164,583 |
Deferred grants | 7,040 | 7,607 |
Long-term debt | 105,000 | 91,000 |
Long-term income tax liabilities | 25,192 | 26,162 |
Other long-term liabilities | 12,889 | 13,073 |
Total liabilities | 324,670 | 302,425 |
Commitments and loss contingency (Note 15) | ' | ' |
Shareholders' equity: | ' | ' |
Preferred stock, $0.01 par value, 10,000 shares authorized; no shares issued and outstanding | ' | ' |
Common stock, $0.01 par value, 200,000 shares authorized; 44,048 and 43,790 shares issued, respectively | 440 | 438 |
Additional paid-in capital | 278,992 | 277,192 |
Retained earnings | 339,067 | 315,187 |
Accumulated other comprehensive income | 9,519 | 14,856 |
Treasury stock at cost: 191 shares and 108 shares, respectively | -2,797 | -1,409 |
Total shareholders' equity | 625,221 | 606,264 |
Total liabilities and shareholders' equity | $949,891 | $908,689 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Statement Of Financial Position [Abstract] | ' | ' |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 10,000 | 10,000 |
Preferred stock, shares issued | ' | ' |
Preferred stock, shares outstanding | ' | ' |
Common stock, par value | $0.01 | $0.01 |
Common stock, shares authorized | 200,000 | 200,000 |
Common stock, shares issued | 44,048 | 43,790 |
Treasury stock, shares | 191 | 108 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Income Statement [Abstract] | ' | ' | ' | ' |
Revenues | $322,143 | $280,526 | $928,122 | $823,426 |
Operating expenses: | ' | ' | ' | ' |
Direct salaries and related costs | 215,001 | 183,628 | 628,848 | 536,758 |
General and administrative | 73,987 | 75,747 | 222,967 | 217,653 |
Depreciation, net | 10,677 | 9,583 | 30,863 | 30,033 |
Amortization of intangibles | 3,699 | 2,774 | 11,171 | 6,644 |
Impairment of long-lived assets | ' | 122 | ' | 271 |
Total operating expenses | 303,364 | 271,854 | 893,849 | 791,359 |
Income from continuing operations | 18,779 | 8,672 | 34,273 | 32,067 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 216 | 297 | 648 | 1,015 |
Interest (expense) | -630 | -421 | -1,716 | -1,049 |
Other income (expense) | 356 | -715 | 142 | -1,804 |
Total other income (expense) | -58 | -839 | -926 | -1,838 |
Income from continuing operations before income taxes | 18,721 | 7,833 | 33,347 | 30,229 |
Income taxes | 4,575 | -309 | 7,087 | 3,569 |
Income from continuing operations, net of taxes | 14,146 | 8,142 | 26,260 | 26,660 |
(Loss) from discontinued operations, net of taxes | ' | ' | ' | -820 |
(Loss) on sale of discontinued operations, net of taxes | ' | ' | ' | -10,707 |
Net income | $14,146 | $8,142 | $26,260 | $15,133 |
Basic: | ' | ' | ' | ' |
Continuing operations | $0.33 | $0.19 | $0.61 | $0.62 |
Discontinued operations | ' | ' | ' | ($0.27) |
Net income (loss) per common share | $0.33 | $0.19 | $0.61 | $0.35 |
Diluted: | ' | ' | ' | ' |
Continuing operations | $0.33 | $0.19 | $0.61 | $0.62 |
Discontinued operations | ' | ' | ' | ($0.27) |
Net income (loss) per common share | $0.33 | $0.19 | $0.61 | $0.35 |
Weighted average common shares outstanding: | ' | ' | ' | ' |
Basic | 42,785 | 43,014 | 42,918 | 43,130 |
Diluted | 42,836 | 43,031 | 42,948 | 43,179 |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income | $14,146 | $8,142 | $26,260 | $15,133 |
Other comprehensive income (loss), net of taxes: | ' | ' | ' | ' |
Foreign currency translation gain (loss), net of taxes | 7,200 | 5,802 | -2,905 | 7,977 |
Unrealized gain (loss) on net investment hedge, net of taxes | -797 | ' | -774 | ' |
Unrealized actuarial gain (loss) related to pension liability, net of taxes | -27 | -5 | -123 | 16 |
Unrealized gain (loss) on cash flow hedging instruments, net of taxes | 827 | -1,369 | -1,351 | 1,339 |
Unrealized gain (loss) on postretirement obligation, net of taxes | -95 | -5 | -184 | 44 |
Other comprehensive income (loss), net of taxes | 7,108 | 4,423 | -5,337 | 9,376 |
Comprehensive income (loss) | $21,254 | $12,565 | $20,923 | $24,509 |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Changes in Shareholders' Equity (USD $) | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
In Thousands | ||||||
Beginning Balance at Dec. 31, 2012 | $606,264 | $438 | $277,192 | $315,187 | $14,856 | ($1,409) |
Beginning Balance, shares at Dec. 31, 2012 | ' | 43,790 | ' | ' | ' | ' |
Issuance of common stock | 59 | ' | 59 | ' | ' | ' |
Issuance of common stock, shares | ' | 10 | ' | ' | ' | ' |
Stock-based compensation expense | 3,581 | ' | 3,581 | ' | ' | ' |
Excess tax benefit (deficiency) from stock-based compensation | -34 | ' | -34 | ' | ' | ' |
Vesting of common stock and restricted stock under equity award plans, net of forfeitures | -93 | 5 | 105 | ' | ' | -203 |
Vesting of common stock and restricted stock under equity award plans, net of forfeitures, shares | ' | 520 | ' | ' | ' | ' |
Repurchase of common stock | -5,479 | ' | ' | ' | ' | -5,479 |
Retirement of treasury stock | ' | -3 | -1,911 | -2,380 | ' | 4,294 |
Retirement of treasury stock, shares | ' | -272 | ' | ' | ' | ' |
Comprehensive income (loss) | 20,923 | ' | ' | 26,260 | -5,337 | ' |
Ending Balance at Sep. 30, 2013 | $625,221 | $440 | $278,992 | $339,067 | $9,519 | ($2,797) |
Ending Balance, shares at Sep. 30, 2013 | ' | 44,048 | ' | ' | ' | ' |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Cash flows from operating activities: | ' | ' |
Net income | $26,260 | $15,133 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' |
Depreciation | 31,620 | 30,827 |
Amortization of intangibles | 11,171 | 6,644 |
Amortization of deferred grants | -859 | -794 |
Impairment losses | ' | 271 |
Unrealized foreign currency transaction (gains) losses, net | 4,496 | -646 |
Stock-based compensation expense | 3,581 | 3,111 |
Deferred income tax provision (benefit) | -801 | -3,981 |
Net (gain) loss on disposal of property and equipment | 60 | 83 |
Bad debt expense | 398 | 806 |
Unrealized (gains) losses on financial instruments, net | 201 | -584 |
Amortization of deferred loan fees | 194 | 303 |
Loss on sale of discontinued operations | ' | 10,707 |
Other | 74 | 219 |
Changes in assets and liabilities, net of acquisition: | ' | ' |
Receivables | -25,912 | -9,955 |
Prepaid expenses | -4,723 | 98 |
Other current assets | -2,000 | 5,198 |
Deferred charges and other assets | -938 | -11,568 |
Accounts payable | -1,958 | -2,206 |
Income taxes receivable / payable | -2,080 | 1,950 |
Accrued employee compensation and benefits | 6,304 | 8,842 |
Other accrued expenses and current liabilities | 337 | 7,193 |
Deferred revenue | 4,011 | 2,486 |
Other long-term liabilities | 1,086 | -8,803 |
Net cash provided by operating activities | 50,522 | 55,334 |
Cash flows from investing activities: | ' | ' |
Capital expenditures | -45,647 | -26,355 |
Cash paid for business acquisition, net of cash acquired | ' | -147,094 |
Proceeds from sale of property and equipment | 89 | 422 |
Investment in restricted cash | -262 | -63 |
Release of restricted cash | ' | 356 |
Cash divested on sale of discontinued operations | ' | -9,100 |
Other | ' | 228 |
Net cash (used for) investing activities | -45,820 | -181,606 |
Cash flows from financing activities: | ' | ' |
Payments of long-term debt | -18,000 | -10,000 |
Proceeds from issuance of long-term debt | 32,000 | 108,000 |
Proceeds from issuance of common stock | 59 | ' |
Cash paid for repurchase of common stock | -5,479 | -7,908 |
Proceeds from grants | 151 | 88 |
Shares repurchased for minimum tax withholding on equity awards | -93 | -1,412 |
Cash paid for loan fees related to long-term debt | ' | -857 |
Net cash provided by financing activities | 8,638 | 87,911 |
Effects of exchange rates on cash | -3,927 | 3,807 |
Net increase (decrease) in cash and cash equivalents | 9,413 | -34,554 |
Cash and cash equivalents - beginning | 187,322 | 211,122 |
Cash and cash equivalents - ending | 196,735 | 176,568 |
Supplemental disclosures of cash flow information: | ' | ' |
Cash paid during period for interest | 1,593 | 1,726 |
Cash paid during period for income taxes | 12,304 | 25,673 |
Non-cash transactions: | ' | ' |
Property and equipment additions in accounts payable | 4,433 | 3,427 |
Unrealized gain (loss) on postretirement obligation in accumulated other comprehensive income (loss) | ($184) | $44 |
Overview_and_Basis_of_Presenta
Overview and Basis of Presentation | 9 Months Ended |
Sep. 30, 2013 | |
Accounting Policies [Abstract] | ' |
Overview and Basis of Presentation | ' |
Note 1. Overview and Basis of Presentation | |
Business — Sykes Enterprises, Incorporated and consolidated subsidiaries (“SYKES” or the “Company”) provides comprehensive outsourced customer contact management solutions and services in the business process outsourcing arena to companies, primarily within the communications, financial services, technology/consumer, transportation and leisure, and healthcare industries. SYKES provides flexible, high-quality outsourced customer contact management services (with an emphasis on inbound technical support and customer service), which includes customer assistance, healthcare and roadside assistance, technical support and product sales to its clients’ customers. Utilizing SYKES’ integrated onshore/offshore global delivery model, SYKES provides its services through multiple communication channels encompassing phone, e-mail, Internet, text messaging and chat. SYKES complements its outsourced customer contact management services with various enterprise support services in the United States that encompass services for a company’s internal support operations, from technical staffing services to outsourced corporate help desk services. In Europe, SYKES also provides fulfillment services including multilingual sales order processing via the Internet and phone, payment processing, inventory control, product delivery and product returns handling. The Company has operations in two reportable segments entitled (1) the Americas, which includes the United States, Canada, Latin America, India and the Asia Pacific Rim, in which the client base is primarily companies in the United States that are using the Company’s services to support their customer management needs; and (2) EMEA, which includes Europe, the Middle East and Africa. | |
Acquisition — In August 2012, the Company completed the acquisition of Alpine Access, Inc. (“Alpine”), a Delaware corporation, pursuant to the Agreement and Plan of Merger, dated July 27, 2012. The Company has reflected the operating results in the Condensed Consolidated Statements of Operations since August 20, 2012. See Note 2, Acquisition of Alpine Access, Inc., for additional information on the acquisition of this business. | |
Discontinued Operations — In March 2012, the Company sold its operations in Spain (the “Spanish operations”), pursuant to an asset purchase agreement dated March 29, 2012 and a stock purchase agreement dated March 30, 2012. The Company reflected the operating results related to the Spanish operations as discontinued operations in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2012. Cash flows from discontinued operations are included in the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2012. See Note 3, Discontinued Operations, for additional information on the sale of the Spanish operations. | |
Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “U.S. GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for any future quarters or the year ending December 31, 2013. For further information, refer to the consolidated financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the Securities and Exchange Commission (“SEC”). | |
Principles of Consolidation — The condensed consolidated financial statements include the accounts of SYKES and its wholly-owned subsidiaries and controlled majority-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. | |
Use of Estimates — The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | |
Subsequent Events — Subsequent events or transactions have been evaluated through the date and time of issuance of the condensed consolidated financial statements. There were no material subsequent events that required recognition or disclosure in the accompanying condensed consolidated financial statements. | |
Goodwill — The Company accounts for goodwill and other intangible assets under Accounting Standards Codification (“ASC”) 350 “Intangibles — Goodwill and Other” (“ASC 350”). The Company expects to receive future benefits from previously acquired goodwill over an indefinite period of time. For goodwill and other intangible assets with indefinite lives not subject to amortization, the Company reviews goodwill and intangible assets for impairment at least annually in the third quarter, and more frequently in the presence of certain circumstances. The Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform the first step of the two-step impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company is required to perform the second step of the goodwill impairment test to measure the amount of the impairment loss, if any. Fair value for goodwill is based on discounted cash flows, market multiples and/or appraised values, as appropriate, and an analysis of our market capitalization. Under ASC 350, the carrying value of assets is calculated at the reporting unit. If the fair value of the reporting unit is less than its carrying value, goodwill is considered impaired and an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. | |
The Company elected to forgo the option to first assess qualitative factors and completed its annual two-step goodwill impairment test during the three months ended September 30, 2013, which included the consideration of certain economic factors, and determined that the fair value of each reporting unit was substantially in excess of its carrying value and goodwill was not impaired. | |
New Accounting Standards Not Yet Adopted | |
In March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-05 “Foreign Currency Matters (Topic 830) – Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). The amendments in ASU 2013-05 indicate that a cumulative translation adjustment (“CTA”) is attached to the parent’s investment in a foreign entity and should be released in a manner consistent with the derecognition guidance on investments in entities. Thus, the entire amount of the CTA associated with the foreign entity would be released when there has been a sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity, a loss of a controlling financial interest in an investment in a foreign entity (i.e., the foreign entity is deconsolidated), or a step acquisition for a foreign entity (i.e., when an entity has changed from applying the equity method for an investment in a foreign entity to consolidating the foreign entity). ASU 2013-05 does not change the requirement to release a pro rata portion of the CTA of the foreign entity into earnings for a partial sale of an equity method investment in a foreign entity. The amendments in ASU 2013-05 are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. The Company does not expect the adoption of ASU 2013-05 to materially impact its financial condition, results of operations and cash flows. | |
In July 2013, the FASB issued ASU 2013-11 “Income Taxes (Topic 740) – Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). The amendments in ASU 2013-11 indicate that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments in ASU 2013-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The Company does not expect the adoption of ASU 2013-11 to materially impact its financial condition, results of operations and cash flows. | |
New Accounting Standards Recently Adopted | |
In December 2011, the FASB issued ASU 2011-11 “Balance Sheet (Topic 210) – Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”). The amendments in ASU 2011-11 enhanced disclosures by requiring improved information about financial and derivative instruments that are either 1) offset (netting assets and liabilities) in accordance with Section 210-20-45 or Section 815-10-45 of the FASB Accounting Standards Codification (“ASC”) or 2) subject to an enforceable master netting arrangement or similar agreement. The amendments in ASU 2011-11 are effective for fiscal years beginning on or after January 1, 2013, and interim periods within those years. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of ASU 2011-11 as of January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See Note 7, Financial Derivatives, for further information. | |
In July 2012, the FASB issued ASU 2012-02 “Intangibles – Goodwill and Other (Topic 350) Testing Indefinite-Lived Intangible Assets for Impairment” (“ASU 2012-02”). The amendments in ASU 2012-02 provide entities with the option to first assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount. Under the amendments in ASU 2012-02, an entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The amendments in ASU 2012-02 are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of ASU 2012-02 on January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See “Goodwill” in this Note 1 for further information. | |
In January 2013, the FASB issued ASU 2013-01 “Balance Sheet (Topic 210) Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”). The amendments in ASU 2013-01 clarify which instruments and transactions are subject to the offsetting disclosure requirements established by ASU 2011-11. ASU 2013-01 addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to the financial statement users. In choosing to narrow the scope of the offsetting disclosures, the FASB determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under International Financial Reporting Standards (“IFRS”). The amendments in ASU 2013-01 are effective for fiscal years beginning on or after January 1, 2013. Retrospective application is required for any period presented that begins before the entity’s initial application of the new requirements. The adoption of ASU 2013-01 as of January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See Note 7, Financial Derivatives, for further information. | |
In February 2013, the FASB issued ASU 2013-02 “Comprehensive Income (Topic 220) Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The amendments in ASU 2013-02 are effective prospectively for reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02 as of January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See Note 12, Accumulated Other Comprehensive Income (Loss), for further information. |
Acquisition_of_Alpine_Access_I
Acquisition of Alpine Access, Inc. | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Acquisition of Alpine Access, Inc. | ' | ||||||||||||||||
Note 2. Acquisition of Alpine Access, Inc. | |||||||||||||||||
On August 20, 2012, the Company acquired 100% of the outstanding common shares and voting interest of Alpine, pursuant to the terms of the merger agreement. Alpine, an industry leader in the at-home agent space, provides award-winning customer contact management services through a secured and proprietary virtual call center environment with its operations located in the United States (“U.S.”) and Canada. The results of Alpine’s operations have been included in the Company’s consolidated financial statements since its acquisition on August 20, 2012. The Company acquired Alpine to: create significant competitive differentiation for quality, speed to market, scalability and flexibility driven by proprietary, internally-developed software, systems, processes and other intellectual property, which uniquely overcome the challenges of the at-home delivery model; strengthen the Company’s current service portfolio and go-to-market offering while expanding the breadth of clients with minimal client overlap; broaden the addressable market opportunity within existing and new verticals as well as clients; expand the addressable pool of skilled labor; leverage operational best practices across the Company’s global platform, with the potential to convert more of its fixed cost to variable cost; and further enhance the growth and margin profile of the Company to drive shareholder value. This resulted in the Company paying a substantial premium for Alpine resulting in the recognition of goodwill. | |||||||||||||||||
The acquisition date fair value of the consideration transferred totaled $149.0 million, which was funded through cash on hand of $41.0 million and borrowings of $108.0 million under the Company’s credit agreement, dated May 3, 2012. See Note 11, Borrowings, for further information. | |||||||||||||||||
The Company accounted for the acquisition in accordance with ASC 805 “Business Combinations”, whereby the purchase price paid was allocated to the tangible and identifiable intangible assets acquired and liabilities assumed from Alpine based on their estimated fair values as of the closing date. During the three months ended December 31, 2012, the final working capital adjustment was approved by the authorized representative of Alpine’s shareholders. The Company finalized its purchase price allocation during the three months ended December 31, 2012, resulting in no changes from the estimated acquisition date fair values previously reported. | |||||||||||||||||
The following table summarizes the final purchase price allocation of the fair values of the assets acquired and liabilities assumed, all included in the Americas segment (in thousands): | |||||||||||||||||
Amount | |||||||||||||||||
Cash and cash equivalents | $ | 1,859 | |||||||||||||||
Receivables | 11,831 | ||||||||||||||||
Prepaid expenses | 617 | ||||||||||||||||
Total current assets | 14,307 | ||||||||||||||||
Property and equipment | 11,326 | ||||||||||||||||
Goodwill | 80,766 | ||||||||||||||||
Intangibles | 57,720 | ||||||||||||||||
Deferred charges and other assets | 916 | ||||||||||||||||
Accounts payable | (880) | ||||||||||||||||
Accrued employee compensation and benefits | (3,774) | ||||||||||||||||
Income taxes payable | (141) | ||||||||||||||||
Deferred revenue | (94) | ||||||||||||||||
Other accrued expenses and current liabilities | (601) | ||||||||||||||||
Total current liabilities | (5,490) | ||||||||||||||||
Other long-term liabilities (1) | (10,592) | ||||||||||||||||
$ | 148,953 | ||||||||||||||||
(1) Primarily includes long-term deferred tax liabilities. | |||||||||||||||||
Fair values are based on management’s estimates and assumptions including variations of the income approach, the cost approach and the market approach. | |||||||||||||||||
The following table presents the Company’s purchased intangible assets as of August 20, 2012, the acquisition date (in thousands): | |||||||||||||||||
Amount Assigned | Weighted Average | ||||||||||||||||
Amortization Period | |||||||||||||||||
(years) | |||||||||||||||||
Customer relationships | $ | 46,000 | 8 | ||||||||||||||
Trade names | 10,600 | 8 | |||||||||||||||
Non-compete agreements | 670 | 2 | |||||||||||||||
Favorable lease agreement | 450 | 2 | |||||||||||||||
$ | 57,720 | 8 | |||||||||||||||
The $80.8 million of goodwill was assigned to the Company’s Americas operating segment. Pursuant to Federal income tax regulations, no amount of intangibles or goodwill from this acquisition will be deductible for tax purposes. | |||||||||||||||||
The fair value of receivables purchased was $11.8 million, with a gross contractual amount of $11.8 million. | |||||||||||||||||
The amount of Alpine’s revenues and net loss since the August 20, 2012 acquisition date, included in the Company’s accompanying Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2012 were as follows (in thousands): | |||||||||||||||||
From August 20, | |||||||||||||||||
2012 Through | |||||||||||||||||
September 30, 2012 | |||||||||||||||||
Revenues | $ | 10,095 | |||||||||||||||
(Loss) from continuing operations before income taxes | $ | (1,935) | |||||||||||||||
(Loss) from continuing operations, net of taxes | $ | (1,907) | |||||||||||||||
The loss from continuing operations before income taxes of $1.9 million includes $1.3 million in severance costs, depreciation resulting from the adjustment to fair value of the acquired property and equipment, and amortization of the fair values of the acquired intangibles. | |||||||||||||||||
The following table presents the unaudited pro forma combined revenues and net earnings as if Alpine had been included in the consolidated results of the Company for the entire three and nine month periods ended September 30, 2012. The pro forma financial information is not indicative of the results of operations that would have been achieved if the acquisition and related borrowings had taken place on January 1, 2012 (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||
Revenues | $ | 292,580 | $ | 885,878 | |||||||||||||
Income from continuing operations, net of taxes | $ | 9,622 | $ | 24,296 | |||||||||||||
Income from continuing operations per common share: | |||||||||||||||||
Basic | $ | 0.22 | $ | 0.57 | |||||||||||||
Diluted | $ | 0.22 | $ | 0.57 | |||||||||||||
These amounts have been calculated to reflect the additional depreciation, amortization and interest expense that would have been incurred assuming the fair value adjustments and borrowings occurred on January 1, 2012, together with the consequential tax effects. In addition, these amounts exclude costs incurred which are directly attributable to the acquisition, and which do not have a continuing impact on the combined companies’ operating results. Included in these costs are severance, advisory and legal costs, net of the tax effects. | |||||||||||||||||
Merger and integration costs associated with Alpine were as follows (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Severance costs: (1) | |||||||||||||||||
Americas | $ | (7) | $ | - | $ | 526 | $ | - | |||||||||
(7) | - | 526 | - | ||||||||||||||
Severance costs: (2) | |||||||||||||||||
Americas | 4 | 320 | 985 | 320 | |||||||||||||
Corporate | - | 377 | 159 | 377 | |||||||||||||
4 | 697 | 1,144 | 697 | ||||||||||||||
Transaction and integration costs: (2) | |||||||||||||||||
Corporate | 73 | 3,045 | 444 | 3,095 | |||||||||||||
73 | 3,045 | 444 | 3,095 | ||||||||||||||
Total merger and integration costs | $ | 70 | $ | 3,742 | $ | 2,114 | $ | 3,792 | |||||||||
(1) | Included in “Direct salaries and related costs” in the accompanying Condensed Consolidated Statements of Operations. | ||||||||||||||||
(2) | Included in “General and administrative” costs in the accompanying Condensed Consolidated Statements of Operations. |
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||
Discontinued Operations | ' | ||||||||
Note 3. Discontinued Operations | |||||||||
In November 2011, the Finance Committee of the Board of Directors of the Company approved a plan to sell its Spanish operations, which were operated through its Spanish subsidiary, Sykes Enterprises, Incorporated S.L. (“Sykes Spain”). Sykes Spain operated customer contact management centers, with annual revenues of approximately $39.3 million in 2011, providing contact center services through a total of three customer contact management centers in Spain to clients in Spain. The decision to sell the Spanish operations was made in 2011 after management completed a strategic review of the Spanish market and determined the operations were no longer consistent with the Company’s strategic direction. | |||||||||
On March 29, 2012, Sykes Spain entered into the asset purchase agreement, by and between Sykes Spain and Iberphone, S.A.U., and pursuant thereto, on March 29, 2012, Sykes Spain sold the fixed assets located in Ponferrada, Spain, which were previously written down to zero, cash of $4.1 million, and certain contracts and licenses relating to the business of Sykes Spain, to Iberphone, S.A.U. Under the asset purchase agreement, Ponferrada, Spain employees were transferred to Iberphone S.A.U. which assumed certain payroll liabilities in the approximate amount of $1.7 million, and paid a nominal purchase price for the assets. | |||||||||
On March 30, 2012, the Company entered into a stock purchase agreement with a former member of Sykes Spain’s management, and pursuant thereto, on March 30, 2012, the Company sold all of the shares of capital stock of Sykes Spain to the purchaser for a nominal price. Pursuant to the stock purchase agreement, immediately prior to closing, the Company made a cash capital contribution of $8.6 million to Sykes Spain to cover a portion of Sykes Spain’s liabilities and to fund the $4.1 million of cash transferred and sold pursuant to the asset purchase agreement with Iberphone, S.A.U. discussed above. As this was a stock transaction, the Company anticipates no future obligation with regard to Sykes Spain and there are no material post-closing obligations. | |||||||||
The Company reflected the operating results related to the Spanish operations as discontinued operations in the accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2012. Cash flows from discontinued operations are included in the accompanying Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2012. This business was historically reported by the Company as part of the EMEA segment. | |||||||||
The results of the Spanish operations included in discontinued operations were as follows (none in the comparable periods in 2013) (in thousands): | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, 2012 | September 30, 2012 | ||||||||
Revenues | $ | - | $ | 10,102 | |||||
(Loss) from discontinued operations before income taxes | $ | - | $ | (820) | |||||
Income taxes (1) | - | - | |||||||
(Loss) from discontinued operations, net of taxes | $ | - | $ | (820) | |||||
(Loss) on sale of discontinued operations before income taxes | $ | - | $ | (10,707) | |||||
Income taxes (1) | - | - | |||||||
(Loss) on sale of discontinued operations, net of taxes | $ | - | $ | (10,707) | |||||
(1) | There were no income taxes as any tax benefit from the losses would be offset by a valuation allowance. |
Costs_Associated_with_Exit_or_
Costs Associated with Exit or Disposal Activities | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Restructuring And Related Activities [Abstract] | ' | ||||||||||||||||||||
Costs Associated with Exit or Disposal Activities | ' | ||||||||||||||||||||
Note 4. Costs Associated with Exit or Disposal Activities | |||||||||||||||||||||
Fourth Quarter 2011 Exit Plan | |||||||||||||||||||||
During 2011, the Company announced a plan to rationalize seats in certain U.S. sites and close certain locations in EMEA (the “Fourth Quarter 2011 Exit Plan”). The details are described below, by segment. | |||||||||||||||||||||
Americas | |||||||||||||||||||||
During 2011, as part of an on-going effort to streamline excess capacity related to the integration of the ICT Group, Inc. (“ICT”) acquisition and align it with the needs of the market, the Company announced a plan to rationalize approximately 900 seats in the U.S., some of which were revenue generating, with plans to migrate the associated revenues to other locations within the U.S. Approximately 300 employees were affected and the Company has completed the actions associated with the Americas plan. | |||||||||||||||||||||
The major costs estimated to be incurred as a result of these actions are program transfer costs, facility-related costs (primarily consisting of those costs associated with the real estate leases), and impairments of long-lived assets (primarily leasehold improvements and equipment) estimated at $1.9 million as of September 30, 2013 ($1.9 million at December 31, 2012). The Company recorded $0.5 million of the costs associated with these actions as non-cash impairment charges, while approximately $1.4 million represents cash expenditures for program transfer and facility-related costs, including obligations under the leases, the last of which ends in February 2017. The Company has paid $0.8 million in cash through September 30, 2013 under the Fourth Quarter 2011 Exit Plan in the Americas. | |||||||||||||||||||||
The following tables summarize the accrued liability associated with the Americas Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Changes | September 30, 2013 | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
September 30, 2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 606 | $ | - | $ | (53) | $ | - | $ | 553 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Changes | September 30, 2012 | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
September 30, 2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 598 | $ | 418 | $ | (281) | $ | - | $ | 735 | |||||||||||
(1) | During 2012, the Company recorded additional charges due to a change in estimate in lease obligations and facility exit costs, which are included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Americas Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Changes | September 30, 2013 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 682 | $ | - | $ | (129) | $ | - | $ | 553 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Changes | September 30, 2012 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | - | $ | 1,074 | $ | (339) | $ | - | $ | 735 | |||||||||||
(1) | During 2012, the Company recorded additional lease obligations and facility exit costs, which are included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. | ||||||||||||||||||||
EMEA | |||||||||||||||||||||
During 2011, to improve the Company’s overall profitability in the EMEA region, the Company committed to close a customer contact management center in South Africa and a customer contact management center in Ireland, as well as some capacity rationalization in the Netherlands, all components of the EMEA segment. Through these actions, the Company expects to improve its cost structure in the EMEA region by optimizing its capacity utilization. While the Company migrated approximately $3.2 million of annualized call volumes of the Ireland facility to other facilities within EMEA, the Company did not migrate the remaining call volume in Ireland or any of the annualized revenue from the Netherlands or South Africa facilities, which was $18.8 million for 2011, to other facilities within the region. The number of seats rationalized across the EMEA region approximated 900 with approximately 500 employees affected by the actions. The Company closed these facilities and substantially completed the actions associated with the EMEA plan on September 30, 2012. | |||||||||||||||||||||
The major costs estimated to be incurred as a result of these actions are facility-related costs (primarily consisting of those costs associated with the real estate leases), impairments of long-lived assets (primarily leasehold improvements and equipment) and anticipated severance-related costs estimated at $6.7 million as of September 30, 2013 ($6.7 million as of December 31, 2012). The Company recorded $0.5 million of the costs associated with these actions as non-cash impairment charges, while approximately $6.2 million represents cash expenditures for severance and related costs and facility-related costs, primarily rent obligations to be paid through the remainder of the noncancelable term of the leases, the last of which ended in March 2013. The Company has paid $5.9 million in cash through September 30, 2013 under the Fourth Quarter 2011 Exit Plan in EMEA. | |||||||||||||||||||||
The following tables summarize the accrued liability associated with EMEA’s Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Changes (2) | September 30, 2013 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||
Severance and related costs | 184 | (62) | - | 7 | 129 | ||||||||||||||||
Legal-related costs | 5 | (5) | - | - | - | ||||||||||||||||
$ | 189 | $ | (67) | $ | - | $ | 7 | $ | 129 | ||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Changes (2) | September 30, 2012 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 565 | $ | - | $ | (5) | $ | 8 | $ | 568 | |||||||||||
Severance and related costs | 3,320 | 151 | (2,886) | (17) | 568 | ||||||||||||||||
Legal-related costs | 5 | 12 | (16) | (1) | - | ||||||||||||||||
$ | 3,890 | $ | 163 | $ | (2,907) | $ | (10) | $ | 1,136 | ||||||||||||
(1) | During 2013, the Company reversed accruals related to the final settlement of severance and related costs and legal-related costs for the Amsterdam site, which reduced “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. During 2012, the Company recorded additional severance and related costs and legal-related costs, which are included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. | ||||||||||||||||||||
(2) | Effect of foreign currency translation. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with EMEA’s Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Changes (2) | September 30, 2013 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||
Severance and related costs | 187 | (56) | (8) | 6 | 129 | ||||||||||||||||
Legal-related costs | 10 | (1) | (10) | 1 | - | ||||||||||||||||
$ | 197 | $ | (57) | $ | (18) | $ | 7 | $ | 129 | ||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Changes (2) | September 30, 2012 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 577 | $ | - | $ | (5) | $ | (4) | $ | 568 | |||||||||||
Severance and related costs | 4,470 | 1,093 | (4,898) | (97) | 568 | ||||||||||||||||
Legal related costs | 13 | 83 | (95) | (1) | - | ||||||||||||||||
$ | 5,060 | $ | 1,176 | $ | (4,998) | $ | (102) | $ | 1,136 | ||||||||||||
(1) | During 2013, the Company reversed accruals related to the final settlement of severance and related costs and legal-related costs for the Amsterdam site, which reduced “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. Additionally, during 2013 and 2012, the Company recorded additional severance and related costs and legal-related costs. | ||||||||||||||||||||
(2) | Effect of foreign currency translation. | ||||||||||||||||||||
The Company charged $0.7 million to “Direct salaries and related costs” for severance and related costs and $0.5 million to “General and administrative” costs for lease obligations and facility exit costs, severance and related costs and legal-related costs in the accompanying Consolidated Statement of Operations for the nine months ended September 30, 2012. | |||||||||||||||||||||
Fourth Quarter 2010 Exit Plan | |||||||||||||||||||||
During 2010, in furtherance of the Company’s long-term goals to manage and optimize capacity utilization, the Company committed to and closed a customer contact management center in the United Kingdom and a customer contact management center in Ireland, both components of the EMEA segment (the “Fourth Quarter 2010 Exit Plan”). These actions were substantially completed by January 31, 2011. | |||||||||||||||||||||
The major costs incurred as a result of these actions were facility-related costs (primarily consisting of those costs associated with the real estate leases), impairments of long-lived assets (primarily leasehold improvements and equipment) and severance-related costs totaling $2.2 million as of September 30, 2013 ($2.2 million as of December 31, 2012). The Company recorded $0.2 million of the costs associated with the Fourth Quarter 2010 Exit Plan as non-cash impairment charges. Approximately $1.8 million represents cash expenditures for facility-related costs, primarily rent obligations to be paid through the remainder of the lease terms, the last of which ends in March 2014, and $0.2 million represents cash expenditures for severance-related costs. The Company has paid $1.7 million in cash through September 30, 2013 under the Fourth Quarter 2010 Exit Plan. | |||||||||||||||||||||
The following tables summarize the accrued liability associated with the Fourth Quarter 2010 Exit Plan’s exit or disposal activities and related charges during the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Three Months | 2013 | ||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 356 | $ | - | $ | (145) | $ | 9 | $ | 220 | |||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Three Months | 2012 | ||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2012 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 656 | $ | - | $ | (66) | $ | 5 | $ | 595 | |||||||||||
-1 | Effect of foreign currency translation. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Fourth Quarter 2010 Exit Plan’s exit or disposal activities and related charges during the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Nine Months Ended | 2013 | ||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 539 | $ | - | $ | (325) | $ | 6 | $ | 220 | |||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Nine Months Ended | 2012 | ||||||||||||||||||||
30-Sep-12 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 835 | $ | - | $ | (229) | $ | (11) | $ | 595 | |||||||||||
(1) | Effect of foreign currency translation. | ||||||||||||||||||||
Third Quarter 2010 Exit Plan | |||||||||||||||||||||
During 2010, consistent with the Company’s long-term goals to manage and optimize capacity utilization, the Company closed or committed to close four customer contact management centers in The Philippines and consolidated or committed to consolidate leased space in our Wilmington, Delaware and Newtown, Pennsylvania locations (the “Third Quarter 2010 Exit Plan”). These actions were substantially completed by January 31, 2011. | |||||||||||||||||||||
The major costs incurred as a result of these actions were impairments of long-lived assets (primarily leasehold improvements) and facility-related costs (primarily consisting of those costs associated with the real estate leases) estimated at $10.5 million as of September 30, 2013 ($10.5 million as of December 31, 2012), all of which are in the Americas segment. The Company recorded $3.8 million of the costs associated with the Third Quarter 2010 Exit Plan as non-cash impairment charges. The remaining $6.7 million represents cash expenditures for facility-related costs, primarily rent obligations to be paid through the remainder of the lease terms, the last of which ends in February 2017. The Company has paid $4.7 million in cash through September 30, 2013 under the Third Quarter 2010 Exit Plan. | |||||||||||||||||||||
The following tables summarize the accrued liability associated with the Third Quarter 2010 Exit Plan’s exit or disposal activities and related charges for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Changes | September 30, 2013 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 2,165 | $ | - | $ | (166) | $ | - | $ | 1,999 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Changes | September 30, 2012 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2012 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 2,755 | $ | - | $ | (146) | $ | - | $ | 2,609 | |||||||||||
The following tables summarize the accrued liability associated with the Third Quarter 2010 Exit Plan’s exit or disposal activities and related charges for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Changes (1) | September 30, 2013 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 2,551 | $ | - | $ | (550) | $ | (2) | $ | 1,999 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Changes (1) | September 30, 2012 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 3,427 | $ | - | $ | (818) | $ | - | $ | 2,609 | |||||||||||
(1) | Effect of foreign currency translation. | ||||||||||||||||||||
Restructuring Liability Classification | |||||||||||||||||||||
The following table summarizes the Company’s short-term and long-term accrued liabilities associated with its exit and disposal activities, by plan, as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||
Americas | EMEA | Fourth | Third | Total | |||||||||||||||||
Fourth | Fourth | Quarter | Quarter | ||||||||||||||||||
Quarter 2011 | Quarter 2011 | 2010 Exit | 2010 Exit | ||||||||||||||||||
Exit Plan | Exit Plan | Plan | Plan | ||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
Short-term accrued restructuring liability (1) | $ | 135 | $ | 129 | $ | 220 | $ | 497 | $ | 981 | |||||||||||
Long-term accrued restructuring liability (2) | 418 | - | - | 1,502 | 1,920 | ||||||||||||||||
Ending accrual at September 30, 2013 | $ | 553 | $ | 129 | $ | 220 | $ | 1,999 | $ | 2,901 | |||||||||||
December 31, 2012 | |||||||||||||||||||||
Short-term accrued restructuring liability (1) | $ | 138 | $ | 197 | $ | 448 | $ | 618 | $ | 1,401 | |||||||||||
Long-term accrued restructuring liability (2) | 544 | - | 91 | 1,933 | 2,568 | ||||||||||||||||
Ending accrual at December 31, 2012 | $ | 682 | $ | 197 | $ | 539 | $ | 2,551 | $ | 3,969 | |||||||||||
(1) | Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheets. | ||||||||||||||||||||
(2) | Included in “Other long-term liabilities” in the accompanying Condensed Consolidated Balance Sheets. |
Fair_Value
Fair Value | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Fair Value | ' | ||||||||||||||||||
Note 5. Fair Value | |||||||||||||||||||
ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”) requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These two types of inputs have created the following fair value hierarchy: | |||||||||||||||||||
— | Level 1 — Quoted prices for identical instruments in active markets. | ||||||||||||||||||
— | Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. | ||||||||||||||||||
— | Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. | ||||||||||||||||||
Fair Value of Financial Instruments — The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: | |||||||||||||||||||
— | Cash, Short-Term and Other Investments, Investments Held in Rabbi Trust and Accounts Payable — The carrying values for cash, short-term and other investments, investments held in rabbi trust and accounts payable approximate their fair values. | ||||||||||||||||||
— | Foreign Currency Forward Contracts and Options — Foreign currency forward contracts and options, including premiums paid on options, are recognized at fair value based on quoted market prices of comparable instruments or, if none are available, on pricing models or formulas using current market and model assumptions, including adjustments for credit risk. | ||||||||||||||||||
— | Long-Term Debt — The carrying value of long-term debt approximates its estimated fair value as it re-prices at varying interest rates. | ||||||||||||||||||
Fair Value Measurements — ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements. ASC 820-10-20 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. | |||||||||||||||||||
ASC 825 “Financial Instruments” (“ASC 825”) permits an entity to measure certain financial assets and financial liabilities at fair value with changes in fair value recognized in earnings each period. The Company has not elected to use the fair value option permitted under ASC 825 for any of its financial assets and financial liabilities that are not already recorded at fair value. | |||||||||||||||||||
Determination of Fair Value — The Company generally uses quoted market prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access to determine fair value, and classifies such items in Level 1. Fair values determined by Level 2 inputs utilize inputs other than quoted market prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted market prices in active markets for similar assets or liabilities, and inputs other than quoted market prices that are observable for the asset or liability. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. | |||||||||||||||||||
If quoted market prices are not available, fair value is based upon internally developed valuation techniques that use, where possible, current market-based or independently sourced market parameters, such as interest rates, currency rates, etc. Assets or liabilities valued using such internally generated valuation techniques are classified according to the lowest level input or value driver that is significant to the valuation. Thus, an item may be classified in Level 3 even though there may be some significant inputs that are readily observable. | |||||||||||||||||||
The following section describes the valuation methodologies used by the Company to measure assets and liabilities at fair value on a recurring basis, including an indication of the level in the fair value hierarchy in which each asset or liability is generally classified. | |||||||||||||||||||
Money Market and Open-End Mutual Funds — The Company uses quoted market prices in active markets to determine the fair value of money market and open-end mutual funds, which are classified in Level 1 of the fair value hierarchy. | |||||||||||||||||||
Foreign Currency Forward Contracts and Options — The Company enters into foreign currency forward contracts and options over the counter and values such contracts using quoted market prices of comparable instruments or, if none are available, on pricing models or formulas using current market and model assumptions, including adjustments for credit risk. The key inputs include forward or option foreign currency exchange rates and interest rates. These items are classified in Level 2 of the fair value hierarchy. | |||||||||||||||||||
Investments Held in Rabbi Trust — The investment assets of the rabbi trust are valued using quoted market prices in active markets, which are classified in Level 1 of the fair value hierarchy. For additional information about the deferred compensation plan, refer to Note 8, Investments Held in Rabbi Trust, and Note 17, Stock-Based Compensation. | |||||||||||||||||||
Guaranteed Investment Certificates — Guaranteed investment certificates, with variable interest rates linked to the prime rate, approximate fair value due to the automatic ability to re-price with changes in the market; such items are classified in Level 2 of the fair value hierarchy. | |||||||||||||||||||
The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following (in thousands): | |||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using: | |||||||||||||||||||
Balance at | Quoted Prices | Significant | Significant | ||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||
Markets For | Observable | Inputs | |||||||||||||||||
Identical Assets | Inputs | ||||||||||||||||||
September 30, 2013 | Level (1) | Level (2) | Level (3) | ||||||||||||||||
Assets: | |||||||||||||||||||
Money market funds and open-end mutual funds included in “Cash and cash equivalents” | (1) | $ | 7,763 | $ | 7,763 | $ | - | $ | - | ||||||||||
Money market funds and open-end mutual funds in “Deferred charges and other assets” | (1) | 11 | 11 | - | - | ||||||||||||||
Foreign currency forward and option contracts | (2) | 2,299 | - | 2,299 | - | ||||||||||||||
Foreign currency forward contracts | (3) | 500 | - | 500 | - | ||||||||||||||
Equity investments held in a rabbi trust for the Deferred Compensation Plan | (4) | 4,628 | 4,628 | - | - | ||||||||||||||
Debt investments held in a rabbi trust for the Deferred Compensation Plan | (4) | 1,166 | 1,166 | - | - | ||||||||||||||
Guaranteed investment certificates | (5) | 80 | - | 80 | - | ||||||||||||||
$ | 16,447 | $ | 13,568 | $ | 2,879 | $ | - | ||||||||||||
Liabilities: | |||||||||||||||||||
Long-term debt | (6) | $ | 105,000 | $ | - | $ | 105,000 | $ | - | ||||||||||
Foreign currency forward and option contracts | (7) | 4,478 | - | 4,478 | - | ||||||||||||||
$ | 109,478 | $ | - | $ | 109,478 | $ | - | ||||||||||||
(1) In the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(2) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
(3) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
(4) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 8. | |||||||||||||||||||
(5) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(6) The carrying value of long-term debt, including the current portion thereof, approximates its estimated fair value as it re-prices at varying interest rates. See Note 11. | |||||||||||||||||||
(7) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following (in thousands): | |||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||||
Balance at | Quoted Prices | Significant | Significant | ||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||
Markets For | Observable | Inputs | |||||||||||||||||
Identical Assets | Inputs | ||||||||||||||||||
December 31, 2012 | Level (1) | Level (2) | Level (3) | ||||||||||||||||
Assets: | |||||||||||||||||||
Money market funds and open-end mutual funds included in “Cash and cash equivalents” | (1) | $ | 7,598 | $ | 7,598 | $ | - | $ | - | ||||||||||
Money market funds and open-end mutual funds in “Deferred charges and other assets” | (1) | 11 | 11 | - | - | ||||||||||||||
Foreign currency forward and option contracts | (2) | 2,008 | - | 2,008 | - | ||||||||||||||
Equity investments held in a rabbi trust for the Deferred Compensation Plan | (3) | 3,212 | 3,212 | - | - | ||||||||||||||
Debt investments held in a rabbi trust for the Deferred Compensation Plan | (3) | 2,049 | 2,049 | - | - | ||||||||||||||
Guaranteed investment certificates | (4) | 80 | - | 80 | - | ||||||||||||||
$ | 14,958 | $ | 12,870 | $ | 2,088 | $ | - | ||||||||||||
Liabilities: | |||||||||||||||||||
Long-term debt | (5) | $ | 91,000 | $ | - | $ | 91,000 | $ | - | ||||||||||
Foreign currency forward and option contracts | (6) | 974 | - | 974 | - | ||||||||||||||
$ | 91,974 | $ | - | $ | 91,974 | $ | - | ||||||||||||
(1) In the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(2) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
(3) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 8. | |||||||||||||||||||
(4) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(5) The carrying value of long-term debt, including the current portion thereof, approximates its estimated fair value as it re-prices at varying interest rates. See Note 11. | |||||||||||||||||||
(6) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
Certain assets, under certain conditions, are measured at fair value on a nonrecurring basis utilizing Level 3 inputs, like those associated with acquired businesses, including goodwill, other intangible assets and other long-lived assets. For these assets, measurement at fair value in periods subsequent to their initial recognition would be applicable if these assets were determined to be impaired. The adjusted carrying values for assets measured at fair value on a nonrecurring basis (no liabilities) subject to the requirements of ASC 820 were not material at December 31, 2012 (none at September 30, 2013). | |||||||||||||||||||
The following table summarizes the total impairment losses related to nonrecurring fair value measurements of certain assets (no liabilities) subject to the requirements of ASC 820 (in thousands): | |||||||||||||||||||
Total Impairment (Loss) | |||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Americas: | |||||||||||||||||||
Property and equipment, net | $ | - | $ | (122) | $ | - | $ | (271) | |||||||||||
During the three and nine months ended September 30, 2012, the Company determined that the carrying value of certain long-lived assets, primarily software licenses, in one of its customer contact management centers in Canada (a component of the Americas segment), were no longer being used and were disposed of. As a result, the Company recorded an impairment loss of $0.1 million. | |||||||||||||||||||
During the nine months ended September 30, 2012, as part of an on-going effort to streamline excess capacity related to the integration of the ICT acquisition and align it with the needs of the market, the Company closed one of its customer contact management centers in Costa Rica (a component of the Americas segment), and recorded an impairment charge of $0.1 million for the carrying value of the long-lived assets that could not be redeployed to other locations. |
Intangible_Assets
Intangible Assets | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Intangible Assets | ' | ||||||||||||||||
Note 6. Intangible Assets | |||||||||||||||||
The following table presents the Company’s purchased intangible assets as of September 30, 2013 (in thousands): | |||||||||||||||||
Gross Intangibles | Accumulated | Net Intangibles | Weighted Average | ||||||||||||||
Amortization | Amortization | ||||||||||||||||
Period (years) | |||||||||||||||||
Customer relationships | $ | 103,498 | $ | (32,943) | $ | 70,555 | 8 | ||||||||||
Trade name | 11,600 | (2,472) | 9,128 | 8 | |||||||||||||
Non-compete agreements | 1,224 | (929) | 295 | 2 | |||||||||||||
Proprietary software | 850 | (839) | 11 | 2 | |||||||||||||
Favorable lease agreement | 450 | (250) | 200 | 2 | |||||||||||||
$ | 117,622 | $ | (37,433) | $ | 80,189 | 8 | |||||||||||
The following table presents the Company’s purchased intangible assets as of December 31, 2012 (in thousands): | |||||||||||||||||
Gross Intangibles | Accumulated | Net Intangibles | Weighted Average | ||||||||||||||
Amortization | Amortization | ||||||||||||||||
Period (years) | |||||||||||||||||
Customer relationships | $ | 104,483 | $ | (23,552) | $ | 80,931 | 8 | ||||||||||
Trade name | 11,600 | (1,451) | 10,149 | 8 | |||||||||||||
Non-compete agreements | 1,229 | (681) | 548 | 2 | |||||||||||||
Proprietary software | 850 | (810) | 40 | 2 | |||||||||||||
Favorable lease agreement | 450 | (81) | 369 | 2 | |||||||||||||
$ | 118,612 | $ | (26,575) | $ | 92,037 | 8 | |||||||||||
The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to September 30, 2013, is as follows (in thousands): | |||||||||||||||||
Years Ending December 31, | Amount | ||||||||||||||||
2013 (remaining three months) | $ | 3,680 | |||||||||||||||
2014 | 14,587 | ||||||||||||||||
2015 | 14,229 | ||||||||||||||||
2016 | 14,229 | ||||||||||||||||
2017 | 14,229 | ||||||||||||||||
2018 | 7,668 | ||||||||||||||||
2019 and thereafter | 11,567 |
Financial_Derivatives
Financial Derivatives | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Financial Derivatives | ' | ||||||||||||||||||||||||
Note 7. Financial Derivatives | |||||||||||||||||||||||||
Cash Flow Hedges – The Company has derivative assets and liabilities relating to outstanding forward contracts and options, designated as cash flow hedges, as defined under ASC 815 “Derivatives and Hedging” (“ASC 815”), consisting of Philippine Peso, Costa Rican Colon, Hungarian Forint and Romanian Leu contracts. These contracts are entered into to protect against the risk that the eventual cash flows resulting from such transactions will be adversely affected by changes in exchange rates. | |||||||||||||||||||||||||
The deferred gains (losses) and related taxes on the Company’s cash flow hedges recorded in “Accumulated other comprehensive income (loss)” (“AOCI”) in the accompanying Condensed Consolidated Balance Sheets are as follows (in thousands): | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Deferred gains (losses) in AOCI | $ | (2,136) | $ | (512) | |||||||||||||||||||||
Tax on deferred gains (losses) in AOCI | 215 | (58) | |||||||||||||||||||||||
Deferred gains (losses) in AOCI, net of taxes | $ | (1,921) | $ | (570) | |||||||||||||||||||||
Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months | $ | (2,450) | |||||||||||||||||||||||
Deferred gains (losses) and other future reclassifications from AOCI will fluctuate with movements in the underlying market price of the forward contracts and options. | |||||||||||||||||||||||||
Net Investment Hedge – During 2013, the Company entered into foreign exchange forward contracts to hedge its net investment in a foreign operation, as defined under ASC 815. The Company did not hedge net investments in foreign operations during 2012. The purpose of these derivative instruments is to protect the Company’s interests against the risk that the net assets of certain foreign subsidiaries will be adversely affected by changes in exchange rates and economic exposures related to the Company’s foreign currency-based investments in these subsidiaries. | |||||||||||||||||||||||||
Other Hedges – The Company also periodically enters into foreign currency hedge contracts that are not designated as hedges as defined under ASC 815. The purpose of these derivative instruments is to protect the Company’s interests against adverse foreign currency moves pertaining to intercompany receivables and payables, and other assets and liabilities that are denominated in currencies other than the Company’s subsidiaries’ functional currencies. These contracts generally do not exceed 180 days in duration. | |||||||||||||||||||||||||
The Company had the following outstanding foreign currency forward contracts and options (in thousands): | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Contract Type | Notional | Settle Through | Notional | Settle Through | |||||||||||||||||||||
Amount in | Date | Amount in | Date | ||||||||||||||||||||||
USD | USD | ||||||||||||||||||||||||
Cash flow hedges: (1) | |||||||||||||||||||||||||
Options: | |||||||||||||||||||||||||
Philippine Pesos | $ | 77,000 | December 2014 | $ | 71,000 | September 2013 | |||||||||||||||||||
Forwards: | |||||||||||||||||||||||||
Philippine Pesos | 62,850 | July 2014 | 5,000 | August 2013 | |||||||||||||||||||||
Costa Rican Colones | 44,250 | August 2014 | 60,750 | December 2013 | |||||||||||||||||||||
Hungarian Forints | 2,164 | January 2014 | 4,744 | January 2014 | |||||||||||||||||||||
Romanian Leis | 2,435 | January 2014 | 6,895 | January 2014 | |||||||||||||||||||||
Net investment hedges: (2) | |||||||||||||||||||||||||
Forwards: | |||||||||||||||||||||||||
Euros | 32,657 | September 2014 | - | - | |||||||||||||||||||||
Non-designated hedges: (3) | |||||||||||||||||||||||||
Forwards | 70,176 | March 2014 | 41,799 | June 2013 | |||||||||||||||||||||
(1) Cash flow hedge as defined under ASC 815. Purpose is to protect against the risk that eventual cash flows resulting from such transactions will be adversely affected by changes in exchange rates. | |||||||||||||||||||||||||
(2) Net investment hedge as defined under ASC 815. Purpose is to protect against the risk that the net assets of certain of our international subsidiaries will be adversely affected by changes in exchange rates and economic exposures related to our foreign currency-based investments in these subsidiaries. | |||||||||||||||||||||||||
As of September 30, 2013, the maximum amount of loss due to credit risk that the Company would incur if parties to the financial instruments that make up the concentration failed to perform according to the terms of the contracts was $2.8 million, based on the gross fair value of the financial instruments. | |||||||||||||||||||||||||
Master netting agreements exist with each respective counterparty used to transact foreign exchange derivatives. These agreements allow the Company to net settle transactions of the same currency in a single transaction. In the event of default by the Company or one of its counterparties, these agreements include a set-off clause that provides the non-defaulting party the right to net settle all derivative transactions, regardless of the currency and settlement date. However, the Company has elected to present the derivative assets and derivative liabilities on a gross basis in the accompanying Condensed Consolidated Balance Sheets. Additionally, the Company is not required to pledge nor is it entitled to receive cash collateral related to these derivative transactions. | |||||||||||||||||||||||||
The following tables present the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets (in thousands): | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts (1) | $ | 1,364 | $ | 1,080 | |||||||||||||||||||||
Foreign currency forward and option contracts (2) | 500 | 14 | |||||||||||||||||||||||
1,864 | 1,094 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts (1) | 935 | 914 | |||||||||||||||||||||||
Total derivative assets | $ | 2,799 | $ | 2,008 | |||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts (3) | $ | 3,184 | $ | 904 | |||||||||||||||||||||
Foreign currency forward and option contracts (4) | - | 8 | |||||||||||||||||||||||
3,184 | 912 | ||||||||||||||||||||||||
Derivatives designated as a net investment hedge under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts (3) | $ | 1,191 | $ | - | |||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts (3) | 103 | 62 | |||||||||||||||||||||||
Total derivative liabilities | $ | 4,478 | $ | 974 | |||||||||||||||||||||
(1) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
(2) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
(3) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
(4) Included in “Other long-term liabilities” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||
Gain (Loss) Recognized | Gain (Loss) Reclassified | Gain (Loss) Recognized in | |||||||||||||||||||||||
in AOCI on Derivatives | From Accumulated AOCI | “Revenues” on Derivatives | |||||||||||||||||||||||
(Effective Portion) | Into “Revenues” | (Ineffective Portion) | |||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
September 30, | September 30, | September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts | $ | 145 | $ | 127 | $ | (795) | $ | 1,631 | $ | 125 | $ | - | |||||||||||||
Derivatives designated as net investment hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | (1,227) | - | - | - | - | - | |||||||||||||||||||
Foreign currency forward and option contracts | $ | (1,082) | $ | 127 | $ | (795) | $ | 1,631 | $ | 125 | $ | - | |||||||||||||
Gain (Loss) Recognized | |||||||||||||||||||||||||
in “Other income and | |||||||||||||||||||||||||
(expense)” on | |||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | $ | 546 | $ | (849) | |||||||||||||||||||||
The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||
Gain (Loss) Recognized | Gain (Loss) Reclassified | Gain (Loss) Recognized in | |||||||||||||||||||||||
in AOCI on Derivatives | From Accumulated AOCI | “Revenues” on Derivatives | |||||||||||||||||||||||
(Effective Portion) | Into “Revenues” | (Ineffective Portion) | |||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
September 30, | September 30, | September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts | $ | (1,599) | $ | 4,090 | $ | 4 | $ | 2,290 | $ | 100 | $ | 17 | |||||||||||||
Derivatives designated as net investment hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | (1,191) | - | - | - | - | - | |||||||||||||||||||
Foreign currency forward and option contracts | $ | (2,790) | $ | 4,090 | $ | 4 | $ | 2,290 | $ | 100 | $ | 17 | |||||||||||||
Gain (Loss) Recognized | |||||||||||||||||||||||||
in “Other income and | |||||||||||||||||||||||||
(expense)” on | |||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | $ | 2,776 | $ | (1,046) | |||||||||||||||||||||
Investments_Held_in_Rabbi_Trus
Investments Held in Rabbi Trust | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Investments Held in Rabbi Trust | ' | ||||||||||||||||
Note 8. Investments Held in Rabbi Trust | |||||||||||||||||
The Company’s investments held in rabbi trust, classified as trading securities and included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets, at fair value, consist of the following (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Cost | Fair Value | Cost | Fair Value | ||||||||||||||
Mutual funds | $ | 4,493 | $ | 5,794 | $ | 4,812 | $ | 5,261 | |||||||||
The mutual funds held in the rabbi trusts were 80% equity-based and 20% debt-based as of September 30, 2013. Net investment income (losses), included in “Other income (expense)” in the accompanying Condensed Consolidated Statements of Operations consists of the following (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Gross realized gains from sale of trading securities | $ | 27 | $ | 58 | $ | 139 | $ | 139 | |||||||||
Gross realized (losses) from sale of trading securities | - | - | (8) | (1) | |||||||||||||
Dividend and interest income | (12) | 11 | 6 | 31 | |||||||||||||
Net unrealized holding gains (losses) | 293 | 189 | 489 | 353 | |||||||||||||
Net investment income (losses) | $ | 308 | $ | 258 | $ | 626 | $ | 522 | |||||||||
Deferred_Revenue
Deferred Revenue | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Revenue Recognition [Abstract] | ' | ||||||||
Deferred Revenue | ' | ||||||||
Note 9. Deferred Revenue | |||||||||
The components of deferred revenue consist of the following (in thousands): | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Future service | $ | 26,821 | $ | 25,074 | |||||
Estimated potential penalties and holdbacks | 10,366 | 9,209 | |||||||
$ | 37,187 | $ | 34,283 | ||||||
Deferred_Grants
Deferred Grants | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Deferred Grants | ' | ||||||||||||||||
Note 10. Deferred Grants | |||||||||||||||||
The components of deferred grants consist of the following (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Property grants | $ | 6,565 | $ | 7,270 | |||||||||||||
Employment grants | 475 | 337 | |||||||||||||||
Total long-term deferred grants (1) | $ | 7,040 | $ | 7,607 | |||||||||||||
(1) Included in “Deferred grants” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||
Amortization of the Company’s property grants included as a reduction to “Depreciation, net” and amortization of the Company’s employment grants are primarily included as a reduction to “Direct salaries and related costs” in the accompanying Condensed Consolidated Statements of Operations consist of the following (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Amortization of property grants | $ | 253 | $ | 235 | $ | 758 | $ | 705 | |||||||||
Amortization of employment grants | 33 | 17 | 101 | 89 | |||||||||||||
$ | 286 | $ | 252 | $ | 859 | $ | 794 | ||||||||||
Borrowings
Borrowings | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Borrowings | ' | ||||||||
Note 11. Borrowings | |||||||||
On May 3, 2012, the Company entered into a $245 million revolving credit facility (the “2012 Credit Agreement”) with a group of lenders and KeyBank National Association, as Lead Arranger, Sole Book Runner and Administrative Agent (“KeyBank”). The 2012 Credit Agreement replaced the Company’s previous $75 million revolving credit facility (the “2010 Credit Agreement”) dated February 2, 2010, as amended, which agreement was terminated simultaneous with entering into the 2012 Credit Agreement. The 2012 Credit Agreement is subject to certain borrowing limitations and includes certain customary financial and restrictive covenants. The Company borrowed $108.0 million under the 2012 Credit Agreement’s revolving credit facility on August 20, 2012 in connection with the acquisition of Alpine on such date. See Note 2, Acquisition of Alpine Access, Inc., for further information. | |||||||||
The 2012 Credit Agreement includes a $184 million alternate-currency sub-facility, a $10 million swingline sub-facility and a $35 million letter of credit sub-facility, and may be used for general corporate purposes including acquisitions, share repurchases, working capital support and letters of credit, subject to certain limitations. The Company is not currently aware of any inability of its lenders to provide access to the full commitment of funds that exist under the revolving credit facility, if necessary. However, there can be no assurance that such facility will be available to the Company, even though it is a binding commitment of the financial institutions. | |||||||||
Borrowings consist of the following (in thousands): | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Revolving credit facility | $ | 105,000 | $ | 91,000 | |||||
Less: Current portion | - | - | |||||||
Total long-term debt | $ | 105,000 | $ | 91,000 | |||||
The 2012 Credit Agreement matures on May 2, 2017 and has no varying installments due. | |||||||||
Borrowings under the 2012 Credit Agreement will bear interest at the rates set forth in the Credit Agreement. In addition, the Company is required to pay certain customary fees, including a commitment fee of 0.175%, which is due quarterly in arrears and calculated on the average unused amount of the 2012 Credit Agreement. | |||||||||
The 2012 Credit Agreement is guaranteed by all of the Company’s existing and future direct and indirect material U.S. subsidiaries and secured by a pledge of 100% of the non-voting and 65% of the voting capital stock of all the direct foreign subsidiaries of the Company and those of the guarantors. | |||||||||
In May 2012, the Company paid an underwriting fee of $0.9 million for the 2012 Credit Agreement, which is deferred and amortized over the term of the loan. In addition, the Company pays a quarterly commitment fee on the 2012 Credit Agreement. | |||||||||
The 2012 Credit Agreement had $105.0 million of outstanding borrowings as of September 30, 2013, with an average daily utilization of $110.4 million and $102.5 million for the three and nine months ended September 30, 2013, respectively, and $106.1 million for the period outstanding during both the three and nine months ended September 30, 2012. During the three and nine months ended September 30, 2013, the related interest expense, excluding amortization of deferred loan fees, under our credit agreements was $0.4 million and $1.1 million, respectively, which represented a weighted average interest rate of 1.5% and 1.5%, respectively. During the three and nine months ended September 30, 2012, the related interest expense, excluding amortization of deferred loan fees, under our credit agreements was $0.2 million and $0.2 million, respectively, which represented a weighted average interest rate of 1.6% and 1.6%, respectively. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Income (Loss) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
Note 12. Accumulated Other Comprehensive Income (Loss) | |||||||||||||||||||||||||
The Company presents data in the Condensed Consolidated Statements of Changes in Shareholders’ Equity in accordance with ASC 220 “Comprehensive Income” (“ASC 220”). ASC 220 establishes rules for the reporting of comprehensive income (loss) and its components. The components of accumulated other comprehensive income (loss) consist of the following (in thousands): | |||||||||||||||||||||||||
Foreign | Unrealized | Unrealized | Unrealized | Unrealized | Total | ||||||||||||||||||||
Currency | Gain (Loss) on | Actuarial Gain | Gain (Loss) on | Gain (Loss) on | |||||||||||||||||||||
Translation | Net | (Loss) Related | Cash Flow | Post | |||||||||||||||||||||
Gain (Loss) | Investment | to Pension | Hedging | Retirement | |||||||||||||||||||||
Hedge | Liability | Instruments | Obligation | ||||||||||||||||||||||
Balance at January 1, 2012 | $ | 5,995 | $ | (2,565) | $ | 985 | $ | (438) | $ | 459 | $ | 4,436 | |||||||||||||
Pre-tax amount | 9,516 | - | 499 | 4,417 | 92 | 14,524 | |||||||||||||||||||
Tax (provision) benefit | - | - | (90) | (306) | - | (396) | |||||||||||||||||||
Reclassification of (gain) loss to net income | 570 | - | (48) | (4,174) | (56) | (3,708) | |||||||||||||||||||
Foreign currency translation | 2 | - | 67 | (69) | - | - | |||||||||||||||||||
Balance at December 31, 2012 | 16,083 | (2,565) | 1,413 | (570) | 495 | 14,856 | |||||||||||||||||||
Pre-tax amount | (3,002) | (1,191) | - | (1,499) | (140) | (5,832) | |||||||||||||||||||
Tax (provision) benefit | - | 417 | - | 384 | - | 801 | |||||||||||||||||||
Reclassification of (gain) loss to net income | - | - | (45) | (217) | (44) | (306) | |||||||||||||||||||
Foreign currency translation | 97 | - | (78) | (19) | - | - | |||||||||||||||||||
Balance at September 30, 2013 | $ | 13,178 | $ | (3,339) | $ | 1,290 | $ | (1,921) | $ | 311 | $ | 9,519 | |||||||||||||
The following table summarizes the amounts reclassified to net income from accumulated other comprehensive income (loss) and the associated line item in the accompanying Condensed Consolidated Statements of Operations (in thousands): | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | Statements of Operations Location | |||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Unrealized Actuarial Gain (Loss) Related to Pension Liability: (1) | |||||||||||||||||||||||||
Pre-tax amount | $ | 16 | $ | 45 | Direct salaries and related costs | ||||||||||||||||||||
Tax (provision) benefit | - | - | Income taxes | ||||||||||||||||||||||
Reclassification to net income | 16 | 45 | |||||||||||||||||||||||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments: (2) | |||||||||||||||||||||||||
Pre-tax amount | (670) | 104 | Revenues | ||||||||||||||||||||||
Tax (provision) benefit | 125 | 113 | Income taxes | ||||||||||||||||||||||
Reclassification to net income | (545) | 217 | |||||||||||||||||||||||
Unrealized Gain (Loss) on Post Retirement Obligation: (1) | |||||||||||||||||||||||||
Pre-tax amount | 14 | 44 | General and administrative | ||||||||||||||||||||||
Tax (provision) benefit | - | - | Income taxes | ||||||||||||||||||||||
Reclassification to net income | 14 | 44 | |||||||||||||||||||||||
Total reclassification to net income | $ | (515) | $ | 306 | |||||||||||||||||||||
(1) See Note 16, Defined Benefit Pension Plan and Postretirement Benefits, for further information. | |||||||||||||||||||||||||
(2) See Note 7, Financial Derivatives, for further information. | |||||||||||||||||||||||||
Except as discussed in Note 13, Income Taxes, earnings associated with the Company’s investments in its subsidiaries are considered to be indefinitely invested and no provision for income taxes on those earnings or translation adjustments have been provided. |
Income_Taxes
Income Taxes | 9 Months Ended | ||
Sep. 30, 2013 | |||
Income Tax Disclosure [Abstract] | ' | ||
Income Taxes | ' | ||
Note 13. Income Taxes | |||
The Company’s effective tax rate was 24.4% and (3.9)% for the three months ended September 30, 2013 and 2012, respectively. The increase in the effective tax rate is primarily due to the fluctuations in earnings among the various tax jurisdictions in which the Company operates, coupled with tax benefits recognized in 2012 as a result of the Alpine acquisition. The difference between the Company’s effective tax rate of 24.4% as compared to the U.S. statutory federal income tax rate of 35.0% was primarily due to the recognition of tax benefits resulting from income earned in certain tax holiday jurisdictions, foreign tax rate differentials, adjustments of valuation allowances, changes in unrecognized tax positions and tax credits, offset by the tax impact of permanent differences and foreign withholding taxes. | |||
The Company’s effective tax rate was 21.3% and 11.8% for the nine months ended September 30, 2013 and 2012, respectively. The increase in the effective tax rate is primarily due to withholding taxes, the fluctuations in earnings among the various tax jurisdictions in which the Company operates and tax benefits recognized in 2012 as a result of the Alpine acquisition. The difference between the Company’s effective tax rate of 21.3% as compared to the U.S. statutory federal income tax rate of 35.0% was primarily due to the recognition of tax benefits resulting from income earned in certain tax holiday jurisdictions, foreign tax rate differentials, adjustments of valuation allowances, changes in unrecognized tax positions and tax credits, offset by the tax impact of permanent differences and foreign withholding taxes. | |||
The liability for unrecognized tax benefits is recorded as “Long-term income tax liabilities” in the accompanying Condensed Consolidated Balance Sheets. The Company has accrued $15.6 million at September 30, 2013 and $16.9 million at December 31, 2012, excluding penalties and interest. The $1.3 million decrease results primarily from fluctuations in foreign exchange rates. | |||
Generally, earnings associated with the investments in the Company’s foreign subsidiaries are considered to be indefinitely invested outside of the U.S. Therefore, a U.S. provision for income taxes on those earnings or translation adjustments has not been recorded, as permitted by criterion outlined in ASC 740 “Income Taxes”. Determination of any unrecognized deferred tax liability for temporary differences related to investments in foreign subsidiaries that are essentially permanent in nature is not practicable. | |||
In 2013, the Company executed offshore cash movements to take advantage of The American Taxpayer Relief Act of 2012 (the “Act”) passed on January 2, 2013, with retroactive application to January 1, 2012. This Act, which extended the tax provisions of the Internal Revenue Code Section 954(c)(6) through the end of 2013, permits continued tax deferral on such movements that would otherwise be taxable immediately in the U.S. While these cash movements are not taxable in the U.S., related foreign withholding taxes of $2.6 million were included in the provision for income taxes in the accompanying Condensed Consolidated Statements of Operations for the nine months ended September 30, 2013. | |||
In addition, the U.S. Department of the Treasury released the “General Explanations of the Administration’s Fiscal Year 2014 Revenue Proposals” in April 2013. These proposals represent a significant shift in international tax policy, which may materially impact U.S. taxation of international earnings. The Company continues to monitor these proposals and is currently evaluating the potential impact on its financial condition, results of operations and cash flows. | |||
The Company is currently under audit in several tax jurisdictions. In April 2012, the Company received an assessment for the Canadian 2003-2006 audit for which the Company filed a Notice of Objection in July 2012 and paid a mandatory security deposit. Requests for Competent Authority Assistance were filed with both the Canadian Revenue Agency and the U.S. Internal Revenue Service for this audit cycle. The Company is still awaiting the final reassessment for the 2007-2009 audit which will be appropriately challenged when received. In July 2013, the Company received another partial assessment for the 2007-2009 audit cycle resulting in the Company’s payment of an additional security deposit of $0.4 million. This payment increased the total amount of deposits for both audit cycles to $15.1 million. These deposits are included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets as of September 30, 2013 and December 31, 2012. Although the outcome of examinations by taxing authorities is always uncertain, the Company believes it is adequately reserved for these audits and that resolution is not expected to have a material impact on its financial condition and results of operations. | |||
The significant tax jurisdictions currently under audit are as follows: | |||
Tax Jurisdiction | Tax Year Ended | ||
Canada | 2003 to 2009 | ||
Philippines | 2007 and 2009 | ||
United States | 2010 to 2012 |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
Note 14. Earnings Per Share | |||||||||||||||||
Basic earnings per share are based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the respective periods and the further dilutive effect, if any, from stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust using the treasury stock method. | |||||||||||||||||
The numbers of shares used in the earnings per share computation are as follows (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic: | |||||||||||||||||
Weighted average common shares outstanding | 42,785 | 43,014 | 42,918 | 43,130 | |||||||||||||
Diluted: | |||||||||||||||||
Dilutive effect of stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust | 51 | 17 | 30 | 49 | |||||||||||||
Total weighted average diluted shares outstanding | 42,836 | 43,031 | 42,948 | 43,179 | |||||||||||||
Anti-dilutive shares excluded from the diluted earnings per share calculation | 56 | - | 18 | - | |||||||||||||
On August 18, 2011, the Company’s Board authorized the Company to purchase up to 5.0 million shares of its outstanding common stock (the “2011 Share Repurchase Program”). A total of 3.4 million shares have been repurchased under the 2011 Share Repurchase Program since inception. The shares are purchased, from time to time, through open market purchases or in negotiated private transactions, and the purchases are based on factors, including but not limited to, the stock price, management discretion and general market conditions. The 2011 Share Repurchase Program has no expiration date. The Company’s Board previously authorized the Company on August 5, 2002 to purchase up to 3.0 million shares of its outstanding common stock, the last of which were repurchased during 2011. | |||||||||||||||||
The shares repurchased under the Company’s share repurchase programs were as follows (in thousands, except per share amounts): | |||||||||||||||||
Total Number of | Total Cost of | ||||||||||||||||
Shares | Range of Prices Paid Per Share | Shares | |||||||||||||||
Repurchased | Low | High | Repurchased | ||||||||||||||
Three Months Ended: | |||||||||||||||||
September 30, 2013 | 69 | $ | 16.91 | $ | 16.99 | $ | 1,185 | ||||||||||
September 30, 2012 | 29 | $ | 14.98 | $ | 14.98 | $ | 447 | ||||||||||
Nine Months Ended: | |||||||||||||||||
September 30, 2013 | 341 | $ | 15.61 | $ | 16.99 | $ | 5,479 | ||||||||||
September 30, 2012 | 537 | $ | 13.85 | $ | 15.00 | $ | 7,908 |
Commitments_and_Loss_Contingen
Commitments and Loss Contingency | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Commitments and Loss Contingency | ' | ||||
Note 15. Commitments and Loss Contingency | |||||
Commitments | |||||
During the nine months ended September 30, 2013, the Company entered into several leases in the ordinary course of business. The following is a schedule of future minimum rental payments required under operating leases that have noncancelable lease terms as of September 30, 2013 (in thousands): | |||||
Amount | |||||
2013 (remaining three months) | $ | 1,232 | |||
2014 | 5,456 | ||||
2015 | 4,899 | ||||
2016 | 2,971 | ||||
2017 | 2,706 | ||||
2018 | 2,339 | ||||
2019 and thereafter | 1,717 | ||||
Total minimum payments required | $ | 21,320 | |||
During the nine months ended September 30, 2013, the Company entered into agreements with third-party vendors in the ordinary course of business whereby the Company committed to purchase goods and services used in its normal operations. These agreements, which are not cancelable, generally range from one to five year periods and contain fixed or minimum annual commitments. Certain of these agreements allow for renegotiation of the minimum annual commitments based on certain conditions. The following is a schedule of the future minimum purchases remaining under the agreements as of September 30, 2013 (in thousands): | |||||
Amount | |||||
2013 (remaining three months) | $ | 101 | |||
2014 | 2,347 | ||||
2015 | 1,839 | ||||
2016 | 544 | ||||
2017 | - | ||||
2018 | - | ||||
2019 and thereafter | - | ||||
Total minimum payments required | $ | 4,831 | |||
Except as outlined above, there have not been any material changes to the outstanding contractual obligations from the disclosure in our Annual Report on Form 10-K for the year ended December 31, 2012. | |||||
Loss Contingency | |||||
The Company from time to time is involved in legal actions arising in the ordinary course of business. With respect to these matters, management believes that the Company has adequate legal defenses and/or provided adequate accruals for related costs such that the ultimate outcome will not have a material adverse effect on the Company’s financial position or results of operations. |
Defined_Benefit_Pension_Plan_a
Defined Benefit Pension Plan and Postretirement Benefits | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Defined Benefit Pension Plan and Postretirement Benefits | ' | ||||||||||||||||
Note 16. Defined Benefit Pension Plan and Postretirement Benefits | |||||||||||||||||
Defined Benefit Pension Plans | |||||||||||||||||
The following table provides information about the net periodic benefit cost for the Company’s pension plans (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Service cost | $ | 85 | $ | 94 | $ | 252 | $ | 280 | |||||||||
Interest cost | 28 | 30 | 84 | 90 | |||||||||||||
Recognized actuarial (gains) | (15) | (11) | (45) | (35) | |||||||||||||
Net periodic benefit cost | $ | 98 | $ | 113 | $ | 291 | $ | 335 | |||||||||
Employee Retirement Savings Plans | |||||||||||||||||
The Company maintains a 401(k) plan covering defined employees who meet established eligibility requirements. Under the plan provisions, the Company matches 50% of participant contributions to a maximum matching amount of 2% of participant compensation. The Company’s contributions included in the accompanying Condensed Consolidated Statement of Operations were as follows (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
401(k) plan contributions | $ | 201 | $ | 245 | $ | 679 | $ | 977 | |||||||||
In connection with the acquisition of Alpine in August 2012, the Company assumed Alpine’s employee benefit plan (Section 401(k)). Under this employee benefit plan, the Company makes a matching contribution on an annual basis in the amount of 100% of the employee contribution for the first 3% of included compensation plus 50% of the employee contribution for the next 2% of included compensation. Employees are 100% vested in contributions, earnings and matching funds at all times. | |||||||||||||||||
Split-Dollar Life Insurance Arrangement | |||||||||||||||||
In 1996, the Company entered into a split-dollar life insurance arrangement to benefit the former Chairman and Chief Executive Officer of the Company. Under the terms of the arrangement, the Company retained a collateral interest in the policy to the extent of the premiums paid by the Company. The postretirement benefit obligation included in “Other long-term liabilities” and the unrealized gains (losses) included in “Accumulated other comprehensive income” in the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Postretirement benefit obligation | $ | 89 | $ | 72 | |||||||||||||
Unrealized gains (losses) in AOCI (1) | $ | 311 | $ | 495 | |||||||||||||
(1) Unrealized gains (losses) are due to changes in discount rates related to the postretirement obligation. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation | ' | ||||||||||||||||
Note 17. Stock-Based Compensation | |||||||||||||||||
The Company’s stock-based compensation plans include the 2011 Equity Incentive Plan, the 2004 Non-Employee Director Fee Plan and the Deferred Compensation Plan. The following table summarizes the stock-based compensation expense (primarily in the Americas), income tax benefits related to the stock-based compensation and excess tax benefits (deficiencies) (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock-based compensation (expense) (1) | $ | (1,391) | $ | (1,250) | $ | (3,581) | $ | (3,111) | |||||||||
Income tax benefit (2) | 486 | 438 | 1,253 | 1,089 | |||||||||||||
Excess tax benefit (deficiency) from stock-based compensation (3) | - | - | (34) | (278) | |||||||||||||
(1) | Included in “General and administrative” costs in the accompanying Condensed Consolidated Statements of Operations. | ||||||||||||||||
(2) | Included in “Income taxes” in the accompanying Condensed Consolidated Statements of Operations. | ||||||||||||||||
(3) | Included in “Additional paid-in capital” in the accompanying Condensed Consolidated Statements of Changes in Shareholder’s Equity. | ||||||||||||||||
There were no capitalized stock-based compensation costs as of September 30, 2013 and December 31, 2012. | |||||||||||||||||
2011 Equity Incentive Plan — The Company’s Board of Directors (the “Board”) adopted the Sykes Enterprises, Incorporated 2011 Equity Incentive Plan (the “2011 Plan”) on March 23, 2011, as amended on May 11, 2011 to reduce the number of shares of common stock available to 4.0 million shares. The 2011 Plan was approved by the shareholders at the May 2011 annual shareholders meeting. The 2011 Plan replaced and superseded the Company’s 2001 Equity Incentive Plan (the “2001 Plan”), which expired on March 14, 2011. The outstanding awards granted under the 2001 Plan will remain in effect until their exercise, expiration or termination. The 2011 Plan permits the grant of restricted stock, stock appreciation rights, stock options and other stock-based awards to certain employees of the Company, and certain non-employees who provide services to the Company, in order to encourage them to remain in the employment of or to faithfully provide services to the Company and to increase their interest in the Company’s success. | |||||||||||||||||
Stock Appreciation Rights – Stock appreciation rights (“SARs”) represent the right to receive, without payment to the Company, a certain number of shares of common stock, as determined by the Compensation and Human Resource Development Committee, equal to the amount by which the fair market value of a share of common stock at the time of exercise exceeds the grant price. The SARs are granted at the fair market value of the Company’s common stock on the date of the grant and vest one-third on each of the first three anniversaries of the date of grant, provided the participant is employed by the Company on such date. The SARs have a term of 10 years from the date of grant. The fair value of each SAR is estimated on the date of grant using the Black-Scholes valuation model that uses various assumptions. | |||||||||||||||||
The following table summarizes the assumptions used to estimate the fair value of SARs granted: | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Expected volatility | 45.2% | 47.1% | |||||||||||||||
Weighted-average volatility | 45.2% | 47.1% | |||||||||||||||
Expected dividend rate | 0.0% | 0.0% | |||||||||||||||
Expected term (in years) | 5.0 | 4.7 | |||||||||||||||
Risk-free rate | 0.8% | 0.8% | |||||||||||||||
The following table summarizes SARs activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Stock Appreciation Rights | Shares (000s) | Weighted | Weighted | Aggregate | |||||||||||||
Average Exercise | Average | Intrinsic Value | |||||||||||||||
Price | Remaining | (000s) | |||||||||||||||
Contractual | |||||||||||||||||
Term (in years) | |||||||||||||||||
Outstanding at January 1, 2013 | 865 | $ | - | ||||||||||||||
Granted | 318 | $ | - | ||||||||||||||
Exercised | - | $ | - | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Outstanding at September 30, 2013 | 1,183 | $ | - | 7.3 | $ | 1,558 | |||||||||||
Vested or expected to vest at September 30, 2013 | 1,183 | $ | - | 7.3 | $ | 1,558 | |||||||||||
Exercisable at September 30, 2013 | 648 | $ | - | 5.9 | $ | 307 | |||||||||||
The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of SARs granted | 318 | 259 | |||||||||||||||
Weighted average grant-date fair value per SAR | $ | 6.08 | $ | 5.97 | |||||||||||||
Intrinsic value of SARs exercised | $ | - | $ | - | |||||||||||||
Fair value of SARs vested | $ | 1,298 | $ | 1,388 | |||||||||||||
The following table summarizes nonvested SARs activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Stock Appreciation Rights | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 395 | $ | 6.74 | ||||||||||||||
Granted | 318 | $ | 6.08 | ||||||||||||||
Vested | (178) | $ | 7.28 | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Nonvested at September 30, 2013 | 535 | $ | 6.17 | ||||||||||||||
As of September 30, 2013, there was $2.5 million of total unrecognized compensation cost, net of estimated forfeitures, related to nonvested SARs granted under the 2011 Plan and 2001 Plan. This cost is expected to be recognized over a weighted average period of 1.4 years. | |||||||||||||||||
Restricted Shares – The Company’s Board has approved in the past, and may approve in the future, awards of performance and employment-based restricted shares (“restricted shares”) for eligible participants. In some instances, where the issuance of restricted shares has adverse tax consequences to the recipient, the Board will instead issue restricted stock units (“RSUs”). The restricted shares are shares of the Company’s common stock (or in the case of RSUs, represent an equivalent number of shares of the Company’s common stock) which are issued to the participant subject to (a) restrictions on transfer for a period of time and (b) forfeiture under certain conditions. The performance goals, including revenue growth and income from operations targets, provide a range of vesting possibilities from 0% to 100% and will be measured at the end of the performance period. If the performance conditions are met for the performance period, the shares will vest and all restrictions on the transfer of the restricted shares will lapse (or in the case of RSUs, an equivalent number of shares of the Company’s common stock will be issued to the recipient). The Company recognizes compensation cost, net of estimated forfeitures, based on the fair value (which approximates the current market price) of the restricted shares (and RSUs) on the date of grant ratably over the requisite service period based on the probability of achieving the performance goals. | |||||||||||||||||
Changes in the probability of achieving the performance goals from period to period will result in corresponding changes in compensation expense. The employment-based restricted shares currently outstanding vest one-third on each of the first three anniversaries of the date of grant, provided the participant is employed by the Company on such date. | |||||||||||||||||
The following table summarizes nonvested restricted shares/RSUs activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Restricted Shares and RSUs | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 872 | $ | 18.25 | ||||||||||||||
Granted | 706 | $ | 15.25 | ||||||||||||||
Vested | (20) | $ | 18.11 | ||||||||||||||
Forfeited or expired | (191) | $ | 23.55 | ||||||||||||||
Nonvested at September 30, 2013 | 1,367 | $ | 15.96 | ||||||||||||||
The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of restricted shares/RSUs granted | 706 | 420 | |||||||||||||||
Weighted average grant-date fair value per restricted share/RSU | $ | 15.25 | $ | 15.21 | |||||||||||||
Fair value of restricted shares/RSUs vested | $ | 366 | $ | 3,845 | |||||||||||||
As of September 30, 2013, based on the probability of achieving the performance goals, there was $19.7 million of total unrecognized compensation cost, net of estimated forfeitures, related to nonvested restricted shares/RSUs granted under the 2011 Plan and 2001 Plan. This cost is expected to be recognized over a weighted average period of 1.6 years. | |||||||||||||||||
2004 Non-Employee Director Fee Plan — The Company’s 2004 Non-Employee Director Fee Plan (the “2004 Fee Plan”), as amended on May 17, 2012, provides that all new non-employee directors joining the Board will receive an initial grant of shares of common stock on the date the new director is elected or appointed, the number of which will be determined by dividing $60,000 by the closing price of the Company’s common stock on the trading day immediately preceding the date a new director is elected or appointed, rounded to the nearest whole number of shares. The initial grant of shares vests in twelve equal quarterly installments, one-twelfth on the date of grant and an additional one-twelfth on each successive third monthly anniversary of the date of grant. The award lapses with respect to all unvested shares in the event the non-employee director ceases to be a director of the Company, and any unvested shares are forfeited. | |||||||||||||||||
The 2004 Fee Plan also provides that each non-employee director will receive, on the day after the annual shareholders meeting, an annual retainer for service as a non-employee director (the “Annual Retainer”). Prior to May 17, 2012, the Annual Retainer was $95,000, of which $50,000 was payable in cash, and the remainder was paid in stock. The annual grant of cash vests in four equal quarterly installments, one-fourth on the day following the annual meeting of shareholders, and an additional one-fourth on each successive third monthly anniversary of the date of grant. The annual grant of shares paid to non-employee directors prior to May 17, 2012 vests in eight equal quarterly installments, one-eighth on the day following the annual meeting of shareholders, and an additional one-eighth on each successive third monthly anniversary of the date of grant. On May 17, 2012, upon the recommendation of the Compensation and Human Resource Development Committee, the Board adopted the Fifth Amended and Restated Non-Employee Director Fee Plan (the “Amendment”), which increased the common stock component of the Annual Retainer by $30,000, resulting in a total Annual Retainer of $125,000, of which $50,000 is payable in cash and the remainder paid in stock. In addition, the Amendment also changed the vesting period for the annual equity award, from a two-year vesting period, to a one-year vesting period (consisting of four equal quarterly installments, one-fourth on the date of grant and an additional one-fourth on each successive third monthly anniversary of the date of grant). The award lapses with respect to all unpaid cash and unvested shares in the event the non-employee director ceases to be a director of the Company, and any unvested shares and unpaid cash are forfeited. | |||||||||||||||||
In addition to the Annual Retainer award, the 2004 Fee Plan also provides for any non-employee Chairman of the Board to receive an additional annual cash award of $100,000, and each non-employee director serving on a committee of the Board to receive an additional annual cash award. The additional annual cash award for the Chairperson of the Audit Committee is $20,000 and Audit Committee members’ are entitled to an annual cash award of $10,000. Prior to May 20, 2011, the annual cash awards for the Chairpersons of the Compensation and Human Resource Development Committee, Finance Committee and Nominating and Corporate Governance Committee were $12,500 and the members of such committees were entitled to an annual cash award of $7,500. On May 20, 2011, the Board increased the additional annual cash award to the Chairperson of the Compensation and Human Resource Development Committee to $15,000. All other additional cash awards remained unchanged. | |||||||||||||||||
The Board may pay additional cash compensation to any non-employee director for services on behalf of the Board over and above those typically expected of directors, including but not limited to service on a special committee of the Board. | |||||||||||||||||
The following table summarizes nonvested common stock share award activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Common Stock Share Awards | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 13 | $ | 17.18 | ||||||||||||||
Granted | 37 | $ | 16.01 | ||||||||||||||
Vested | (31) | $ | 16.48 | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Nonvested at September 30, 2013 | 19 | $ | 16.01 | ||||||||||||||
The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of share awards granted | 37 | 42 | |||||||||||||||
Weighted average grant-date fair value per share award | $ | 16.01 | $ | 16.15 | |||||||||||||
Fair value of share awards vested | $ | 519 | $ | 551 | |||||||||||||
As of September 30, 2013, there was $0.2 million of total unrecognized compensation cost, net of estimated forfeitures, related to nonvested common stock share awards granted under the 2004 Fee Plan. This cost is expected to be recognized over a weighted average period of 0.3 years. | |||||||||||||||||
Deferred Compensation Plan — The Board adopted the Sykes Enterprises, Incorporated non-qualified Deferred Compensation Plan (the “Deferred Compensation Plan”) on December 17, 1998 and amended on March 29, 2006 and May 23, 2006. The Deferred Compensation Plan, which was not shareholder-approved, provides certain eligible employees the ability to defer any portion of their compensation until the participant’s retirement, termination, disability or death, or a change in control of the Company. Using the Company’s common stock, the Company matches 50% of the amounts deferred by certain senior management participants on a quarterly basis up to a total of $12,000 per year for the president, executive vice presidents and senior vice presidents and $7,500 per year for vice presidents (participants below the level of vice president are not eligible to receive matching contributions from the Company). Matching contributions and the associated earnings vest over a seven year service period. Deferred compensation amounts used to pay benefits, which are held in a rabbi trust, include investments in various mutual funds and shares of the Company’s common stock (see Note 8, Investments Held in Rabbi Trust). As of September 30, 2013 and December 31, 2012, liabilities of $5.8 million and $5.3 million, respectively, of the Deferred Compensation Plan were recorded in “Accrued employee compensation and benefits” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||
Additionally, the Company’s common stock match associated with the Deferred Compensation Plan, with a carrying value of approximately $1.6 million and $1.4 million at September 30, 2013 and December 31, 2012, respectively, is included in “Treasury stock” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||
The following table summarizes nonvested common stock activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Common Stock | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 8 | $ | 16.98 | ||||||||||||||
Granted | 12 | $ | 16.30 | ||||||||||||||
Vested | (14) | $ | 16.56 | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Nonvested at September 30, 2013 | 6 | $ | 16.56 | ||||||||||||||
The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of shares of common stock granted | 12 | 13 | |||||||||||||||
Weighted average grant-date fair value per common stock | $ | 16.30 | $ | 15.28 | |||||||||||||
Fair value of common stock vested | $ | 241 | $ | 178 | |||||||||||||
Cash used to settle the obligation | $ | 1,014 | $ | 263 | |||||||||||||
As of September 30, 2013, there was $0.1 million of total unrecognized compensation cost, net of estimated forfeitures, related to nonvested common stock granted under the Deferred Compensation Plan. This cost is expected to be recognized over a weighted average period of 2.8 years. |
Segments_and_Geographic_Inform
Segments and Geographic Information | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segments and Geographic Information | ' | ||||||||||||||||
Note 18. Segments and Geographic Information | |||||||||||||||||
The Company operates within two regions, the Americas and EMEA. Each region represents a reportable segment comprised of aggregated regional operating segments, which portray similar economic characteristics. The Company aligns its business into two segments to effectively manage the business and support the customer care needs of every client and to respond to the demands of the Company’s global customers. | |||||||||||||||||
The reportable segments consist of (1) the Americas, which includes the United States, Canada, Latin America, Australia and the Asia Pacific Rim, and provides outsourced customer contact management solutions (with an emphasis on technical support and customer service) and technical staffing and (2) EMEA, which includes Europe, the Middle East and Africa, and provides outsourced customer contact management solutions (with an emphasis on technical support and customer service) and fulfillment services. The sites within Latin America, India and the Asia Pacific Rim are included in the Americas segment given the nature of the business and client profile, which is primarily made up of U.S.-based companies that are using the Company’s services in these locations to support their customer contact management needs. | |||||||||||||||||
Information about the Company’s reportable segments is as follows (in thousands): | |||||||||||||||||
Americas | EMEA | Other (1) | Consolidated | ||||||||||||||
Three Months Ended September 30, 2013: | |||||||||||||||||
Revenues (2) | $ | 265,878 | $ | 56,265 | $ | 322,143 | |||||||||||
Percentage of revenues | 82.5% | 17.5% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 9,532 | $ | 1,145 | $ | 10,677 | |||||||||||
Amortization of intangibles (2) | $ | 3,699 | $ | - | $ | 3,699 | |||||||||||
Income (loss) from continuing operations | $ | 26,987 | $ | 3,423 | $ | (11,631) | $ | 18,779 | |||||||||
Other (expense), net | (58) | (58) | |||||||||||||||
Income taxes | (4,575) | (4,575) | |||||||||||||||
Income from continuing operations, net of taxes | 14,146 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | - | $ | - | - | ||||||||||||
Net income | $ | 14,146 | |||||||||||||||
Total assets as of September 30, 2013 | $ | 1,119,017 | $ | 1,377,992 | $ | (1,547,118) | $ | 949,891 | |||||||||
Three Months Ended September 30, 2012: | |||||||||||||||||
Revenues (2) | $ | 237,541 | $ | 42,985 | $ | 280,526 | |||||||||||
Percentage of revenues | 84.7% | 15.3% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 8,579 | $ | 1,004 | $ | 9,583 | |||||||||||
Amortization of intangibles (2) | $ | 2,774 | $ | - | $ | 2,774 | |||||||||||
Income (loss) from continuing operations | $ | 21,654 | $ | 2,359 | $ | (15,341) | $ | 8,672 | |||||||||
Other (expense), net | (839) | (839) | |||||||||||||||
Income taxes | 309 | 309 | |||||||||||||||
Income from continuing operations, net of taxes | 8,142 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | - | $ | - | - | ||||||||||||
Net income | $ | 8,142 | |||||||||||||||
Total assets as of September 30, 2012 | $ | 1,265,146 | $ | 1,073,201 | $ | (1,433,732) | $ | 904,615 | |||||||||
Nine Months Ended September 30, 2013: | |||||||||||||||||
Revenues (2) | $ | 776,255 | $ | 151,867 | $ | 928,122 | |||||||||||
Percentage of revenues | 83.6% | 16.4% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 27,789 | $ | 3,074 | $ | 30,863 | |||||||||||
Amortization of intangibles (2) | $ | 11,171 | $ | - | $ | 11,171 | |||||||||||
Income (loss) from continuing operations | $ | 65,730 | $ | 3,354 | $ | (34,811) | $ | 34,273 | |||||||||
Other (expense), net | (926) | (926) | |||||||||||||||
Income taxes | (7,087) | (7,087) | |||||||||||||||
Income from continuing operations, net of taxes | 26,260 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | - | $ | - | - | ||||||||||||
Net income | $ | 26,260 | |||||||||||||||
Nine Months Ended September 30, 2012: | |||||||||||||||||
Revenues (2) | $ | 688,841 | $ | 134,585 | $ | 823,426 | |||||||||||
Percentage of revenues | 83.7% | 16.3% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 27,043 | $ | 2,990 | $ | 30,033 | |||||||||||
Amortization of intangibles (2) | $ | 6,644 | $ | - | $ | 6,644 | |||||||||||
Income (loss) from continuing operations | $ | 69,388 | $ | 1,861 | $ | (39,182) | $ | 32,067 | |||||||||
Other (expense), net | (1,838) | (1,838) | |||||||||||||||
Income taxes | (3,569) | (3,569) | |||||||||||||||
Income from continuing operations, net of taxes | 26,660 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | (6,302) | $ | (5,225) | (11,527) | ||||||||||||
Net income | $ | 15,133 | |||||||||||||||
(1) | Other items (including corporate costs, impairment costs, other income and expense, and income taxes) are shown for purposes of reconciling to the Company’s consolidated totals as shown in the tables above for the three and nine months ended September 30, 2013 and 2012. Inter-segment revenues are not material to the Americas and EMEA segment results. The Company evaluates the performance of its geographic segments based on revenue and income (loss) from operations, and does not include segment assets or other income and expense items for management reporting purposes. | ||||||||||||||||
(2) | Revenues and depreciation and amortization include results from continuing operations only. | ||||||||||||||||
(3) | Includes the (loss) from discontinued operations, net of taxes, as well as the (loss) on sale of discontinued operations, net of taxes, if any. |
Other_Income_Expense
Other Income (Expense) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||||||
Other Income (Expense) | ' | ||||||||||||||||
Note 19. Other Income (Expense) | |||||||||||||||||
Gains and losses resulting from foreign currency transactions are recorded in “Other income (expense)” in the accompanying Condensed Consolidated Statements of Operations during the period in which they occur. Other income (expense) consists of the following (in thousands): | |||||||||||||||||
Three Months Ended September | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Foreign currency transaction gains (losses) | $ | (470) | $ | (193) | $ | (3,204) | $ | (1,771) | |||||||||
Gains (losses) on foreign currency derivative instruments not designated as hedges | 546 | (849) | 2,776 | (1,046) | |||||||||||||
Other miscellaneous income (expense) | 280 | 327 | 570 | 1,013 | |||||||||||||
$ | 356 | $ | (715) | $ | 142 | $ | (1,804) | ||||||||||
Related_Party_Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions | ' |
Note 20. Related Party Transactions | |
In January 2008, the Company entered into a lease for a customer contact management center located in Kingstree, South Carolina. The landlord, Kingstree Office One, LLC, is an entity controlled by John H. Sykes, the founder, former Chairman and Chief Executive Officer and the father of Charles Sykes, President and Chief Executive Officer of the Company. The lease payments on the 20 year lease were negotiated at or below market rates, and the lease is cancellable at the option of the Company. There are significant penalties for early cancellation which decrease over time. The Company paid $0.1 million to the landlord during both the three months ended September 30, 2013 and 2012 and $0.3 million to the landlord during both the nine months ended September 30, 2013 and 2012 under the terms of the lease. |
Overview_and_Basis_of_Presenta1
Overview and Basis of Presentation (Policies) | 9 Months Ended | |||
Sep. 30, 2013 | ||||
Accounting Policies [Abstract] | ' | |||
Business | ' | |||
Business — Sykes Enterprises, Incorporated and consolidated subsidiaries (“SYKES” or the “Company”) provides comprehensive outsourced customer contact management solutions and services in the business process outsourcing arena to companies, primarily within the communications, financial services, technology/consumer, transportation and leisure, and healthcare industries. SYKES provides flexible, high-quality outsourced customer contact management services (with an emphasis on inbound technical support and customer service), which includes customer assistance, healthcare and roadside assistance, technical support and product sales to its clients’ customers. Utilizing SYKES’ integrated onshore/offshore global delivery model, SYKES provides its services through multiple communication channels encompassing phone, e-mail, Internet, text messaging and chat. SYKES complements its outsourced customer contact management services with various enterprise support services in the United States that encompass services for a company’s internal support operations, from technical staffing services to outsourced corporate help desk services. In Europe, SYKES also provides fulfillment services including multilingual sales order processing via the Internet and phone, payment processing, inventory control, product delivery and product returns handling. The Company has operations in two reportable segments entitled (1) the Americas, which includes the United States, Canada, Latin America, India and the Asia Pacific Rim, in which the client base is primarily companies in the United States that are using the Company’s services to support their customer management needs; and (2) EMEA, which includes Europe, the Middle East and Africa. | ||||
Acquisition — In August 2012, the Company completed the acquisition of Alpine Access, Inc. (“Alpine”), a Delaware corporation, pursuant to the Agreement and Plan of Merger, dated July 27, 2012. The Company has reflected the operating results in the Condensed Consolidated Statements of Operations since August 20, 2012. See Note 2, Acquisition of Alpine Access, Inc., for additional information on the acquisition of this business. | ||||
Discontinued Operations — In March 2012, the Company sold its operations in Spain (the “Spanish operations”), pursuant to an asset purchase agreement dated March 29, 2012 and a stock purchase agreement dated March 30, 2012. The Company reflected the operating results related to the Spanish operations as discontinued operations in the Condensed Consolidated Statements of Operations for the nine months ended September 30, 2012. Cash flows from discontinued operations are included in the Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2012. See Note 3, Discontinued Operations, for additional information on the sale of the Spanish operations. | ||||
Basis of Presentation | ' | |||
Basis of Presentation — The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“generally accepted accounting principles” or “U.S. GAAP”) for interim financial information, the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and notes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for any future quarters or the year ending December 31, 2013. For further information, refer to the consolidated financial statements and notes thereto, included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2012, as filed with the Securities and Exchange Commission (“SEC”). | ||||
Principles of Consolidation | ' | |||
Principles of Consolidation — The condensed consolidated financial statements include the accounts of SYKES and its wholly-owned subsidiaries and controlled majority-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. | ||||
Use of Estimates | ' | |||
Use of Estimates — The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | ||||
Subsequent Events | ' | |||
Subsequent Events — Subsequent events or transactions have been evaluated through the date and time of issuance of the condensed consolidated financial statements. There were no material subsequent events that required recognition or disclosure in the accompanying condensed consolidated financial statements. | ||||
Goodwill | ' | |||
Goodwill — The Company accounts for goodwill and other intangible assets under Accounting Standards Codification (“ASC”) 350 “Intangibles — Goodwill and Other” (“ASC 350”). The Company expects to receive future benefits from previously acquired goodwill over an indefinite period of time. For goodwill and other intangible assets with indefinite lives not subject to amortization, the Company reviews goodwill and intangible assets for impairment at least annually in the third quarter, and more frequently in the presence of certain circumstances. The Company has the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If, after assessing the totality of events or circumstances, the Company determines it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, then performing the two-step impairment test is unnecessary. However, if the Company concludes otherwise, then it is required to perform the first step of the two-step impairment test by calculating the fair value of the reporting unit and comparing the fair value with the carrying amount of the reporting unit. If the carrying amount of a reporting unit exceeds its fair value, then the Company is required to perform the second step of the goodwill impairment test to measure the amount of the impairment loss, if any. Fair value for goodwill is based on discounted cash flows, market multiples and/or appraised values, as appropriate, and an analysis of our market capitalization. Under ASC 350, the carrying value of assets is calculated at the reporting unit. If the fair value of the reporting unit is less than its carrying value, goodwill is considered impaired and an impairment loss is recorded to the extent that the fair value of the goodwill within the reporting unit is less than its carrying value. | ||||
The Company elected to forgo the option to first assess qualitative factors and completed its annual two-step goodwill impairment test during the three months ended September 30, 2013, which included the consideration of certain economic factors, and determined that the fair value of each reporting unit was substantially in excess of its carrying value and goodwill was not impaired. | ||||
New Accounting Standards Not Yet Adopted | ' | |||
New Accounting Standards Not Yet Adopted | ||||
In March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2013-05 “Foreign Currency Matters (Topic 830) – Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). The amendments in ASU 2013-05 indicate that a cumulative translation adjustment (“CTA”) is attached to the parent’s investment in a foreign entity and should be released in a manner consistent with the derecognition guidance on investments in entities. Thus, the entire amount of the CTA associated with the foreign entity would be released when there has been a sale of a subsidiary or group of net assets within a foreign entity and the sale represents the substantially complete liquidation of the investment in the foreign entity, a loss of a controlling financial interest in an investment in a foreign entity (i.e., the foreign entity is deconsolidated), or a step acquisition for a foreign entity (i.e., when an entity has changed from applying the equity method for an investment in a foreign entity to consolidating the foreign entity). ASU 2013-05 does not change the requirement to release a pro rata portion of the CTA of the foreign entity into earnings for a partial sale of an equity method investment in a foreign entity. The amendments in ASU 2013-05 are effective prospectively for fiscal years (and interim reporting periods within those years) beginning after December 15, 2013. The amendments should be applied prospectively to derecognition events occurring after the effective date. The Company does not expect the adoption of ASU 2013-05 to materially impact its financial condition, results of operations and cash flows. | ||||
In July 2013, the FASB issued ASU 2013-11 “Income Taxes (Topic 740) – Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” (“ASU 2013-11”). The amendments in ASU 2013-11 indicate that an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward if such settlement is required or expected in the event the uncertain tax position is disallowed. In situations where a net operating loss carryforward, a similar tax loss, or a tax credit carryforward is not available at the reporting date under the tax law of the applicable jurisdiction or the tax law of the jurisdiction does not require, and the entity does not intend to use, the deferred tax asset for such purpose, the unrecognized tax benefit should be presented in the financial statements as a liability and should not be combined with deferred tax assets. The amendments in ASU 2013-11 are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Retrospective application is permitted. The Company does not expect the adoption of ASU 2013-11 to materially impact its financial condition, results of operations and cash flows. | ||||
New Accounting Standards Recently Adopted | ' | |||
New Accounting Standards Recently Adopted | ||||
In December 2011, the FASB issued ASU 2011-11 “Balance Sheet (Topic 210) – Disclosures about Offsetting Assets and Liabilities” (“ASU 2011-11”). The amendments in ASU 2011-11 enhanced disclosures by requiring improved information about financial and derivative instruments that are either 1) offset (netting assets and liabilities) in accordance with Section 210-20-45 or Section 815-10-45 of the FASB Accounting Standards Codification (“ASC”) or 2) subject to an enforceable master netting arrangement or similar agreement. The amendments in ASU 2011-11 are effective for fiscal years beginning on or after January 1, 2013, and interim periods within those years. An entity should provide the disclosures required by those amendments retrospectively for all comparative periods presented. The adoption of ASU 2011-11 as of January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See Note 7, Financial Derivatives, for further information. | ||||
In July 2012, the FASB issued ASU 2012-02 “Intangibles – Goodwill and Other (Topic 350) Testing Indefinite-Lived Intangible Assets for Impairment” (“ASU 2012-02”). The amendments in ASU 2012-02 provide entities with the option to first assess qualitative factors to determine whether the existence of events and circumstances indicates that it is more likely than not that the indefinite-lived intangible asset is impaired. If, after assessing the totality of events and circumstances, an entity concludes that it is not more likely than not that the indefinite-lived intangible asset is impaired, then the entity is not required to take further action. However, if an entity concludes otherwise, then it is required to determine the fair value of the indefinite-lived intangible asset and perform the quantitative impairment test by comparing the fair value with the carrying amount. Under the amendments in ASU 2012-02, an entity also has the option to bypass the qualitative assessment for any indefinite-lived intangible asset in any period and proceed directly to performing the quantitative impairment test. An entity will be able to resume performing the qualitative assessment in any subsequent period. The amendments in ASU 2012-02 are effective for annual and interim impairment tests performed for fiscal years beginning after September 15, 2012. The adoption of ASU 2012-02 on January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See “Goodwill” in this Note 1 for further information. | ||||
In January 2013, the FASB issued ASU 2013-01 “Balance Sheet (Topic 210) Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities” (“ASU 2013-01”). The amendments in ASU 2013-01 clarify which instruments and transactions are subject to the offsetting disclosure requirements established by ASU 2011-11. ASU 2013-01 addresses preparer concerns that the scope of the disclosure requirements under ASU 2011-11 was overly broad and imposed unintended costs that were not commensurate with estimated benefits to the financial statement users. In choosing to narrow the scope of the offsetting disclosures, the FASB determined that it could make them more operable and cost effective for preparers while still giving financial statement users sufficient information to analyze the most significant presentation differences between financial statements prepared in accordance with U.S. GAAP and those prepared under International Financial Reporting Standards (“IFRS”). The amendments in ASU 2013-01 are effective for fiscal years beginning on or after January 1, 2013. Retrospective application is required for any period presented that begins before the entity’s initial application of the new requirements. The adoption of ASU 2013-01 as of January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See Note 7, Financial Derivatives, for further information. | ||||
In February 2013, the FASB issued ASU 2013-02 “Comprehensive Income (Topic 220) Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income” (“ASU 2013-02”). The amendments in ASU 2013-02 do not change the current requirements for reporting net income or other comprehensive income in financial statements. However, the amendments require an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by the respective line items of net income but only if the amount reclassified is required under U.S. GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under U.S. GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under U.S. GAAP that provide additional detail about those amounts. The amendments in ASU 2013-02 are effective prospectively for reporting periods beginning after December 15, 2012. The adoption of ASU 2013-02 as of January 1, 2013 did not have a material impact on the financial condition, results of operations and cash flows of the Company. See Note 12, Accumulated Other Comprehensive Income (Loss), for further information. | ||||
Fair Value Measurements | ' | |||
ASC 820 “Fair Value Measurements and Disclosures” (“ASC 820”) requires disclosure about how fair value is determined for assets and liabilities and establishes a hierarchy for which these assets and liabilities must be grouped, based on significant levels of observable or unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. This hierarchy requires the use of observable market data when available. These two types of inputs have created the following fair value hierarchy: | ||||
— | Level 1 — Quoted prices for identical instruments in active markets. | |||
— | Level 2 — Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. | |||
— | Level 3 — Valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable. | |||
Fair Value of Financial Instruments — The following methods and assumptions were used to estimate the fair value of each class of financial instruments for which it is practicable to estimate that value: | ||||
— | Cash, Short-Term and Other Investments, Investments Held in Rabbi Trust and Accounts Payable — The carrying values for cash, short-term and other investments, investments held in rabbi trust and accounts payable approximate their fair values. | |||
— | Foreign Currency Forward Contracts and Options — Foreign currency forward contracts and options, including premiums paid on options, are recognized at fair value based on quoted market prices of comparable instruments or, if none are available, on pricing models or formulas using current market and model assumptions, including adjustments for credit risk. | |||
— | Long-Term Debt — The carrying value of long-term debt approximates its estimated fair value as it re-prices at varying interest rates. | |||
Fair Value Measurements — ASC 820 defines fair value, establishes a framework for measuring fair value in accordance with generally accepted accounting principles and expands disclosures about fair value measurements. ASC 820-10-20 clarifies that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. | ||||
Financial Instruments | ' | |||
ASC 825 “Financial Instruments” (“ASC 825”) permits an entity to measure certain financial assets and financial liabilities at fair value with changes in fair value recognized in earnings each period. The Company has not elected to use the fair value option permitted under ASC 825 for any of its financial assets and financial liabilities that are not already recorded at fair value. | ||||
Earnings Per Share | ' | |||
Basic earnings per share are based on the weighted average number of common shares outstanding during the periods. Diluted earnings per share includes the weighted average number of common shares outstanding during the respective periods and the further dilutive effect, if any, from stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust using the treasury stock method. | ||||
Segments and Geographic Information | ' | |||
The Company operates within two regions, the Americas and EMEA. Each region represents a reportable segment comprised of aggregated regional operating segments, which portray similar economic characteristics. The Company aligns its business into two segments to effectively manage the business and support the customer care needs of every client and to respond to the demands of the Company’s global customers. |
Acquisition_of_Alpine_Access_I1
Acquisition of Alpine Access, Inc. (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Summary of Final Purchase Price Allocation of Fair Values of Assets Acquired and Liabilities Assumed | ' | ||||||||||||||||
The following table summarizes the final purchase price allocation of the fair values of the assets acquired and liabilities assumed, all included in the Americas segment (in thousands): | |||||||||||||||||
Amount | |||||||||||||||||
Cash and cash equivalents | $ | 1,859 | |||||||||||||||
Receivables | 11,831 | ||||||||||||||||
Prepaid expenses | 617 | ||||||||||||||||
Total current assets | 14,307 | ||||||||||||||||
Property and equipment | 11,326 | ||||||||||||||||
Goodwill | 80,766 | ||||||||||||||||
Intangibles | 57,720 | ||||||||||||||||
Deferred charges and other assets | 916 | ||||||||||||||||
Accounts payable | (880) | ||||||||||||||||
Accrued employee compensation and benefits | (3,774) | ||||||||||||||||
Income taxes payable | (141) | ||||||||||||||||
Deferred revenue | (94) | ||||||||||||||||
Other accrued expenses and current liabilities | (601) | ||||||||||||||||
Total current liabilities | (5,490) | ||||||||||||||||
Other long-term liabilities (1) | (10,592) | ||||||||||||||||
$ | 148,953 | ||||||||||||||||
(1) Primarily includes long-term deferred tax liabilities. | |||||||||||||||||
Summary of Purchased Intangible Assets | ' | ||||||||||||||||
The following table presents the Company’s purchased intangible assets as of August 20, 2012, the acquisition date (in thousands): | |||||||||||||||||
Amount Assigned | Weighted Average | ||||||||||||||||
Amortization Period | |||||||||||||||||
(years) | |||||||||||||||||
Customer relationships | $ | 46,000 | 8 | ||||||||||||||
Trade names | 10,600 | 8 | |||||||||||||||
Non-compete agreements | 670 | 2 | |||||||||||||||
Favorable lease agreement | 450 | 2 | |||||||||||||||
$ | 57,720 | 8 | |||||||||||||||
Revenues and Earnings of Acquired Entity Since Acquisition Date | ' | ||||||||||||||||
The amount of Alpine’s revenues and net loss since the August 20, 2012 acquisition date, included in the Company’s accompanying Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 2012 were as follows (in thousands): | |||||||||||||||||
From August 20, | |||||||||||||||||
2012 Through | |||||||||||||||||
September 30, 2012 | |||||||||||||||||
Revenues | $ | 10,095 | |||||||||||||||
(Loss) from continuing operations before income taxes | $ | (1,935) | |||||||||||||||
(Loss) from continuing operations, net of taxes | $ | (1,907) | |||||||||||||||
Combined Pro Forma of Revenues and Net Earnings | ' | ||||||||||||||||
The following table presents the unaudited pro forma combined revenues and net earnings as if Alpine had been included in the consolidated results of the Company for the entire three and nine month periods ended September 30, 2012. The pro forma financial information is not indicative of the results of operations that would have been achieved if the acquisition and related borrowings had taken place on January 1, 2012 (in thousands): | |||||||||||||||||
Three Months Ended | Nine Months Ended | ||||||||||||||||
September 30, 2012 | September 30, 2012 | ||||||||||||||||
Revenues | $ | 292,580 | $ | 885,878 | |||||||||||||
Income from continuing operations, net of taxes | $ | 9,622 | $ | 24,296 | |||||||||||||
Income from continuing operations per common share: | |||||||||||||||||
Basic | $ | 0.22 | $ | 0.57 | |||||||||||||
Diluted | $ | 0.22 | $ | 0.57 | |||||||||||||
Merger and Integration Costs | ' | ||||||||||||||||
Merger and integration costs associated with Alpine were as follows (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Severance costs: (1) | |||||||||||||||||
Americas | $ | (7) | $ | - | $ | 526 | $ | - | |||||||||
(7) | - | 526 | - | ||||||||||||||
Severance costs: (2) | |||||||||||||||||
Americas | 4 | 320 | 985 | 320 | |||||||||||||
Corporate | - | 377 | 159 | 377 | |||||||||||||
4 | 697 | 1,144 | 697 | ||||||||||||||
Transaction and integration costs: (2) | |||||||||||||||||
Corporate | 73 | 3,045 | 444 | 3,095 | |||||||||||||
73 | 3,045 | 444 | 3,095 | ||||||||||||||
Total merger and integration costs | $ | 70 | $ | 3,742 | $ | 2,114 | $ | 3,792 | |||||||||
(1) | Included in “Direct salaries and related costs” in the accompanying Condensed Consolidated Statements of Operations. | ||||||||||||||||
(2) | Included in “General and administrative” costs in the accompanying Condensed Consolidated Statements of Operations. |
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||
Results of Spanish Operations Included in Discontinued Operations | ' | ||||||||
The results of the Spanish operations included in discontinued operations were as follows (none in the comparable periods in 2013) (in thousands): | |||||||||
Three Months Ended | Nine Months Ended | ||||||||
September 30, 2012 | September 30, 2012 | ||||||||
Revenues | $ | - | $ | 10,102 | |||||
(Loss) from discontinued operations before income taxes | $ | - | $ | (820) | |||||
Income taxes (1) | - | - | |||||||
(Loss) from discontinued operations, net of taxes | $ | - | $ | (820) | |||||
(Loss) on sale of discontinued operations before income taxes | $ | - | $ | (10,707) | |||||
Income taxes (1) | - | - | |||||||
(Loss) on sale of discontinued operations, net of taxes | $ | - | $ | (10,707) | |||||
(1) | There were no income taxes as any tax benefit from the losses would be offset by a valuation allowance. |
Costs_Associated_with_Exit_or_1
Costs Associated with Exit or Disposal Activities (Tables) | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||
Summary of Accrued Liability Associated with the Company's Exit Plans | ' | ||||||||||||||||||||
The following table summarizes the Company’s short-term and long-term accrued liabilities associated with its exit and disposal activities, by plan, as of September 30, 2013 and December 31, 2012 (in thousands): | |||||||||||||||||||||
Americas | EMEA | Fourth | Third | Total | |||||||||||||||||
Fourth | Fourth | Quarter | Quarter | ||||||||||||||||||
Quarter 2011 | Quarter 2011 | 2010 Exit | 2010 Exit | ||||||||||||||||||
Exit Plan | Exit Plan | Plan | Plan | ||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
Short-term accrued restructuring liability (1) | $ | 135 | $ | 129 | $ | 220 | $ | 497 | $ | 981 | |||||||||||
Long-term accrued restructuring liability (2) | 418 | - | - | 1,502 | 1,920 | ||||||||||||||||
Ending accrual at September 30, 2013 | $ | 553 | $ | 129 | $ | 220 | $ | 1,999 | $ | 2,901 | |||||||||||
December 31, 2012 | |||||||||||||||||||||
Short-term accrued restructuring liability (1) | $ | 138 | $ | 197 | $ | 448 | $ | 618 | $ | 1,401 | |||||||||||
Long-term accrued restructuring liability (2) | 544 | - | 91 | 1,933 | 2,568 | ||||||||||||||||
Ending accrual at December 31, 2012 | $ | 682 | $ | 197 | $ | 539 | $ | 2,551 | $ | 3,969 | |||||||||||
(1) | Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheets. | ||||||||||||||||||||
(2) | Included in “Other long-term liabilities” in the accompanying Condensed Consolidated Balance Sheets. | ||||||||||||||||||||
Fourth Quarter 2011 Exit Plan [Member] | ' | ||||||||||||||||||||
Summary of Accrued Liability Associated with the Company's Exit Plans | ' | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Americas Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Changes | September 30, 2013 | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
September 30, 2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 606 | $ | - | $ | (53) | $ | - | $ | 553 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Changes | September 30, 2012 | ||||||||||||||||||
Three Months Ended | |||||||||||||||||||||
September 30, 2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 598 | $ | 418 | $ | (281) | $ | - | $ | 735 | |||||||||||
(1) | During 2012, the Company recorded additional charges due to a change in estimate in lease obligations and facility exit costs, which are included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Americas Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Changes | September 30, 2013 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 682 | $ | - | $ | (129) | $ | - | $ | 553 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Changes | September 30, 2012 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | - | $ | 1,074 | $ | (339) | $ | - | $ | 735 | |||||||||||
(1) | During 2012, the Company recorded additional lease obligations and facility exit costs, which are included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with EMEA’s Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Changes (2) | September 30, 2013 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||
Severance and related costs | 184 | (62) | - | 7 | 129 | ||||||||||||||||
Legal-related costs | 5 | (5) | - | - | - | ||||||||||||||||
$ | 189 | $ | (67) | $ | - | $ | 7 | $ | 129 | ||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Changes (2) | September 30, 2012 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 565 | $ | - | $ | (5) | $ | 8 | $ | 568 | |||||||||||
Severance and related costs | 3,320 | 151 | (2,886) | (17) | 568 | ||||||||||||||||
Legal-related costs | 5 | 12 | (16) | (1) | - | ||||||||||||||||
$ | 3,890 | $ | 163 | $ | (2,907) | $ | (10) | $ | 1,136 | ||||||||||||
(1) | During 2013, the Company reversed accruals related to the final settlement of severance and related costs and legal-related costs for the Amsterdam site, which reduced “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. During 2012, the Company recorded additional severance and related costs and legal-related costs, which are included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. | ||||||||||||||||||||
(2) | Effect of foreign currency translation. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with EMEA’s Fourth Quarter 2011 Exit Plan’s exit or disposal activities and related charges for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Changes (2) | September 30, 2013 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2013 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | - | $ | - | $ | - | $ | - | $ | - | |||||||||||
Severance and related costs | 187 | (56) | (8) | 6 | 129 | ||||||||||||||||
Legal-related costs | 10 | (1) | (10) | 1 | - | ||||||||||||||||
$ | 197 | $ | (57) | $ | (18) | $ | 7 | $ | 129 | ||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Changes (2) | September 30, 2012 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2012 (1) | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 577 | $ | - | $ | (5) | $ | (4) | $ | 568 | |||||||||||
Severance and related costs | 4,470 | 1,093 | (4,898) | (97) | 568 | ||||||||||||||||
Legal related costs | 13 | 83 | (95) | (1) | - | ||||||||||||||||
$ | 5,060 | $ | 1,176 | $ | (4,998) | $ | (102) | $ | 1,136 | ||||||||||||
(1) | During 2013, the Company reversed accruals related to the final settlement of severance and related costs and legal-related costs for the Amsterdam site, which reduced “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations. Additionally, during 2013 and 2012, the Company recorded additional severance and related costs and legal-related costs. | ||||||||||||||||||||
(2) | Effect of foreign currency translation. | ||||||||||||||||||||
Fourth Quarter 2010 Exit Plan [Member] | ' | ||||||||||||||||||||
Summary of Accrued Liability Associated with the Company's Exit Plans | ' | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Fourth Quarter 2010 Exit Plan’s exit or disposal activities and related charges during the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Three Months | 2013 | ||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 356 | $ | - | $ | (145) | $ | 9 | $ | 220 | |||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Three Months | 2012 | ||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2012 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 656 | $ | - | $ | (66) | $ | 5 | $ | 595 | |||||||||||
-1 | Effect of foreign currency translation. | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Fourth Quarter 2010 Exit Plan’s exit or disposal activities and related charges during the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Nine Months Ended | 2013 | ||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 539 | $ | - | $ | (325) | $ | 6 | $ | 220 | |||||||||||
Beginning Accrual | Charges | Cash | Other Non-Cash | Ending Accrual | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Payments | Changes (1) | at September 30, | |||||||||||||||||
Nine Months Ended | 2012 | ||||||||||||||||||||
30-Sep-12 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 835 | $ | - | $ | (229) | $ | (11) | $ | 595 | |||||||||||
(1) | Effect of foreign currency translation. | ||||||||||||||||||||
Third Quarter 2010 Exit Plan [Member] | ' | ||||||||||||||||||||
Summary of Accrued Liability Associated with the Company's Exit Plans | ' | ||||||||||||||||||||
The following tables summarize the accrued liability associated with the Third Quarter 2010 Exit Plan’s exit or disposal activities and related charges for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2013 | (Reversals) for the | Changes | September 30, 2013 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 2,165 | $ | - | $ | (166) | $ | - | $ | 1,999 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at July 1, 2012 | (Reversals) for the | Changes | September 30, 2012 | ||||||||||||||||||
Three Months | |||||||||||||||||||||
Ended September 30, | |||||||||||||||||||||
2012 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 2,755 | $ | - | $ | (146) | $ | - | $ | 2,609 | |||||||||||
The following tables summarize the accrued liability associated with the Third Quarter 2010 Exit Plan’s exit or disposal activities and related charges for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2013 | (Reversals) for the | Changes (1) | September 30, 2013 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2013 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 2,551 | $ | - | $ | (550) | $ | (2) | $ | 1,999 | |||||||||||
Beginning Accrual | Charges | Cash Payments | Other Non-Cash | Ending Accrual at | |||||||||||||||||
at January 1, 2012 | (Reversals) for the | Changes (1) | September 30, 2012 | ||||||||||||||||||
Nine Months Ended | |||||||||||||||||||||
September 30, 2012 | |||||||||||||||||||||
Lease obligations and facility exit costs | $ | 3,427 | $ | - | $ | (818) | $ | - | $ | 2,609 | |||||||||||
(1) | Effect of foreign currency translation. |
Fair_Value_Tables
Fair Value (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||
Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||||
The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following (in thousands): | |||||||||||||||||||
Fair Value Measurements at September 30, 2013 Using: | |||||||||||||||||||
Balance at | Quoted Prices | Significant | Significant | ||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||
Markets For | Observable | Inputs | |||||||||||||||||
Identical Assets | Inputs | ||||||||||||||||||
September 30, 2013 | Level (1) | Level (2) | Level (3) | ||||||||||||||||
Assets: | |||||||||||||||||||
Money market funds and open-end mutual funds included in “Cash and cash equivalents” | (1) | $ | 7,763 | $ | 7,763 | $ | - | $ | - | ||||||||||
Money market funds and open-end mutual funds in “Deferred charges and other assets” | (1) | 11 | 11 | - | - | ||||||||||||||
Foreign currency forward and option contracts | (2) | 2,299 | - | 2,299 | - | ||||||||||||||
Foreign currency forward contracts | (3) | 500 | - | 500 | - | ||||||||||||||
Equity investments held in a rabbi trust for the Deferred Compensation Plan | (4) | 4,628 | 4,628 | - | - | ||||||||||||||
Debt investments held in a rabbi trust for the Deferred Compensation Plan | (4) | 1,166 | 1,166 | - | - | ||||||||||||||
Guaranteed investment certificates | (5) | 80 | - | 80 | - | ||||||||||||||
$ | 16,447 | $ | 13,568 | $ | 2,879 | $ | - | ||||||||||||
Liabilities: | |||||||||||||||||||
Long-term debt | (6) | $ | 105,000 | $ | - | $ | 105,000 | $ | - | ||||||||||
Foreign currency forward and option contracts | (7) | 4,478 | - | 4,478 | - | ||||||||||||||
$ | 109,478 | $ | - | $ | 109,478 | $ | - | ||||||||||||
(1) In the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(2) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
(3) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
(4) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 8. | |||||||||||||||||||
(5) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(6) The carrying value of long-term debt, including the current portion thereof, approximates its estimated fair value as it re-prices at varying interest rates. See Note 11. | |||||||||||||||||||
(7) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
The Company’s assets and liabilities measured at fair value on a recurring basis subject to the requirements of ASC 820 consist of the following (in thousands): | |||||||||||||||||||
Fair Value Measurements at December 31, 2012 Using: | |||||||||||||||||||
Balance at | Quoted Prices | Significant | Significant | ||||||||||||||||
in Active | Other | Unobservable | |||||||||||||||||
Markets For | Observable | Inputs | |||||||||||||||||
Identical Assets | Inputs | ||||||||||||||||||
December 31, 2012 | Level (1) | Level (2) | Level (3) | ||||||||||||||||
Assets: | |||||||||||||||||||
Money market funds and open-end mutual funds included in “Cash and cash equivalents” | (1) | $ | 7,598 | $ | 7,598 | $ | - | $ | - | ||||||||||
Money market funds and open-end mutual funds in “Deferred charges and other assets” | (1) | 11 | 11 | - | - | ||||||||||||||
Foreign currency forward and option contracts | (2) | 2,008 | - | 2,008 | - | ||||||||||||||
Equity investments held in a rabbi trust for the Deferred Compensation Plan | (3) | 3,212 | 3,212 | - | - | ||||||||||||||
Debt investments held in a rabbi trust for the Deferred Compensation Plan | (3) | 2,049 | 2,049 | - | - | ||||||||||||||
Guaranteed investment certificates | (4) | 80 | - | 80 | - | ||||||||||||||
$ | 14,958 | $ | 12,870 | $ | 2,088 | $ | - | ||||||||||||
Liabilities: | |||||||||||||||||||
Long-term debt | (5) | $ | 91,000 | $ | - | $ | 91,000 | $ | - | ||||||||||
Foreign currency forward and option contracts | (6) | 974 | - | 974 | - | ||||||||||||||
$ | 91,974 | $ | - | $ | 91,974 | $ | - | ||||||||||||
(1) In the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(2) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
(3) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheet. See Note 8. | |||||||||||||||||||
(4) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheet. | |||||||||||||||||||
(5) The carrying value of long-term debt, including the current portion thereof, approximates its estimated fair value as it re-prices at varying interest rates. See Note 11. | |||||||||||||||||||
(6) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheet. See Note 7. | |||||||||||||||||||
Impairment Losses Related to Nonrecurring Fair Value Measurements of Certain Assets | ' | ||||||||||||||||||
The following table summarizes the total impairment losses related to nonrecurring fair value measurements of certain assets (no liabilities) subject to the requirements of ASC 820 (in thousands): | |||||||||||||||||||
Total Impairment (Loss) | |||||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||||
Americas: | |||||||||||||||||||
Property and equipment, net | $ | - | $ | (122) | $ | - | $ | (271) | |||||||||||
Intangible_Assets_Tables
Intangible Assets (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||
Company's Purchased Intangible Assets | ' | ||||||||||||||||
The following table presents the Company’s purchased intangible assets as of September 30, 2013 (in thousands): | |||||||||||||||||
Gross Intangibles | Accumulated | Net Intangibles | Weighted Average | ||||||||||||||
Amortization | Amortization | ||||||||||||||||
Period (years) | |||||||||||||||||
Customer relationships | $ | 103,498 | $ | (32,943) | $ | 70,555 | 8 | ||||||||||
Trade name | 11,600 | (2,472) | 9,128 | 8 | |||||||||||||
Non-compete agreements | 1,224 | (929) | 295 | 2 | |||||||||||||
Proprietary software | 850 | (839) | 11 | 2 | |||||||||||||
Favorable lease agreement | 450 | (250) | 200 | 2 | |||||||||||||
$ | 117,622 | $ | (37,433) | $ | 80,189 | 8 | |||||||||||
The following table presents the Company’s purchased intangible assets as of December 31, 2012 (in thousands): | |||||||||||||||||
Gross Intangibles | Accumulated | Net Intangibles | Weighted Average | ||||||||||||||
Amortization | Amortization | ||||||||||||||||
Period (years) | |||||||||||||||||
Customer relationships | $ | 104,483 | $ | (23,552) | $ | 80,931 | 8 | ||||||||||
Trade name | 11,600 | (1,451) | 10,149 | 8 | |||||||||||||
Non-compete agreements | 1,229 | (681) | 548 | 2 | |||||||||||||
Proprietary software | 850 | (810) | 40 | 2 | |||||||||||||
Favorable lease agreement | 450 | (81) | 369 | 2 | |||||||||||||
$ | 118,612 | $ | (26,575) | $ | 92,037 | 8 | |||||||||||
Estimated Future Amortization Expense | ' | ||||||||||||||||
The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to September 30, 2013, is as follows (in thousands): | |||||||||||||||||
Years Ending December 31, | Amount | ||||||||||||||||
2013 (remaining three months) | $ | 3,680 | |||||||||||||||
2014 | 14,587 | ||||||||||||||||
2015 | 14,229 | ||||||||||||||||
2016 | 14,229 | ||||||||||||||||
2017 | 14,229 | ||||||||||||||||
2018 | 7,668 | ||||||||||||||||
2019 and thereafter | 11,567 |
Financial_Derivatives_Tables
Financial Derivatives (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Deferred Gains (Losses) and Related Taxes on Cash Flow Hedges | ' | ||||||||||||||||||||||||
The deferred gains (losses) and related taxes on the Company’s cash flow hedges recorded in “Accumulated other comprehensive income (loss)” (“AOCI”) in the accompanying Condensed Consolidated Balance Sheets are as follows (in thousands): | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Deferred gains (losses) in AOCI | $ | (2,136) | $ | (512) | |||||||||||||||||||||
Tax on deferred gains (losses) in AOCI | 215 | (58) | |||||||||||||||||||||||
Deferred gains (losses) in AOCI, net of taxes | $ | (1,921) | $ | (570) | |||||||||||||||||||||
Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months | $ | (2,450) | |||||||||||||||||||||||
Outstanding Foreign Currency Forward Contracts and Options | ' | ||||||||||||||||||||||||
The Company had the following outstanding foreign currency forward contracts and options (in thousands): | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Contract Type | Notional | Settle Through | Notional | Settle Through | |||||||||||||||||||||
Amount in | Date | Amount in | Date | ||||||||||||||||||||||
USD | USD | ||||||||||||||||||||||||
Cash flow hedges: (1) | |||||||||||||||||||||||||
Options: | |||||||||||||||||||||||||
Philippine Pesos | $ | 77,000 | December 2014 | $ | 71,000 | September 2013 | |||||||||||||||||||
Forwards: | |||||||||||||||||||||||||
Philippine Pesos | 62,850 | July 2014 | 5,000 | August 2013 | |||||||||||||||||||||
Costa Rican Colones | 44,250 | August 2014 | 60,750 | December 2013 | |||||||||||||||||||||
Hungarian Forints | 2,164 | January 2014 | 4,744 | January 2014 | |||||||||||||||||||||
Romanian Leis | 2,435 | January 2014 | 6,895 | January 2014 | |||||||||||||||||||||
Net investment hedges: (2) | |||||||||||||||||||||||||
Forwards: | |||||||||||||||||||||||||
Euros | 32,657 | September 2014 | - | - | |||||||||||||||||||||
Non-designated hedges: (3) | |||||||||||||||||||||||||
Forwards | 70,176 | March 2014 | 41,799 | June 2013 | |||||||||||||||||||||
(1) Cash flow hedge as defined under ASC 815. Purpose is to protect against the risk that eventual cash flows resulting from such transactions will be adversely affected by changes in exchange rates. | |||||||||||||||||||||||||
(2) Net investment hedge as defined under ASC 815. Purpose is to protect against the risk that the net assets of certain of our international subsidiaries will be adversely affected by changes in exchange rates and economic exposures related to our foreign currency-based investments in these subsidiaries. | |||||||||||||||||||||||||
Derivative Instruments Fair Value | ' | ||||||||||||||||||||||||
The following tables present the fair value of the Company’s derivative instruments included in the accompanying Condensed Consolidated Balance Sheets (in thousands): | |||||||||||||||||||||||||
Derivative Assets | |||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts (1) | $ | 1,364 | $ | 1,080 | |||||||||||||||||||||
Foreign currency forward and option contracts (2) | 500 | 14 | |||||||||||||||||||||||
1,864 | 1,094 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts (1) | 935 | 914 | |||||||||||||||||||||||
Total derivative assets | $ | 2,799 | $ | 2,008 | |||||||||||||||||||||
Derivative Liabilities | |||||||||||||||||||||||||
30-Sep-13 | 31-Dec-12 | ||||||||||||||||||||||||
Fair Value | Fair Value | ||||||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts (3) | $ | 3,184 | $ | 904 | |||||||||||||||||||||
Foreign currency forward and option contracts (4) | - | 8 | |||||||||||||||||||||||
3,184 | 912 | ||||||||||||||||||||||||
Derivatives designated as a net investment hedge under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts (3) | $ | 1,191 | $ | - | |||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts (3) | 103 | 62 | |||||||||||||||||||||||
Total derivative liabilities | $ | 4,478 | $ | 974 | |||||||||||||||||||||
(1) Included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
(2) Included in “Deferred charges and other assets” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
(3) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
(4) Included in “Other long-term liabilities” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||||||||||
Effect of the Company's Derivative Instruments | ' | ||||||||||||||||||||||||
The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the three months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||
Gain (Loss) Recognized | Gain (Loss) Reclassified | Gain (Loss) Recognized in | |||||||||||||||||||||||
in AOCI on Derivatives | From Accumulated AOCI | “Revenues” on Derivatives | |||||||||||||||||||||||
(Effective Portion) | Into “Revenues” | (Ineffective Portion) | |||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
September 30, | September 30, | September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts | $ | 145 | $ | 127 | $ | (795) | $ | 1,631 | $ | 125 | $ | - | |||||||||||||
Derivatives designated as net investment hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | (1,227) | - | - | - | - | - | |||||||||||||||||||
Foreign currency forward and option contracts | $ | (1,082) | $ | 127 | $ | (795) | $ | 1,631 | $ | 125 | $ | - | |||||||||||||
Gain (Loss) Recognized | |||||||||||||||||||||||||
in “Other income and | |||||||||||||||||||||||||
(expense)” on | |||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | $ | 546 | $ | (849) | |||||||||||||||||||||
The following tables present the effect of the Company’s derivative instruments included in the accompanying Condensed Consolidated Financial Statements for the nine months ended September 30, 2013 and 2012 (in thousands): | |||||||||||||||||||||||||
Gain (Loss) Recognized | Gain (Loss) Reclassified | Gain (Loss) Recognized in | |||||||||||||||||||||||
in AOCI on Derivatives | From Accumulated AOCI | “Revenues” on Derivatives | |||||||||||||||||||||||
(Effective Portion) | Into “Revenues” | (Ineffective Portion) | |||||||||||||||||||||||
(Effective Portion) | |||||||||||||||||||||||||
September 30, | September 30, | September 30, | |||||||||||||||||||||||
2013 | 2012 | 2013 | 2012 | 2013 | 2012 | ||||||||||||||||||||
Derivatives designated as cash flow hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward and option contracts | $ | (1,599) | $ | 4,090 | $ | 4 | $ | 2,290 | $ | 100 | $ | 17 | |||||||||||||
Derivatives designated as net investment hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | (1,191) | - | - | - | - | - | |||||||||||||||||||
Foreign currency forward and option contracts | $ | (2,790) | $ | 4,090 | $ | 4 | $ | 2,290 | $ | 100 | $ | 17 | |||||||||||||
Gain (Loss) Recognized | |||||||||||||||||||||||||
in “Other income and | |||||||||||||||||||||||||
(expense)” on | |||||||||||||||||||||||||
Derivatives | |||||||||||||||||||||||||
September 30, | |||||||||||||||||||||||||
2013 | 2012 | ||||||||||||||||||||||||
Derivatives not designated as hedging instruments under ASC 815: | |||||||||||||||||||||||||
Foreign currency forward contracts | $ | 2,776 | $ | (1,046) | |||||||||||||||||||||
Investments_Held_in_Rabbi_Trus1
Investments Held in Rabbi Trust (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Investments Debt And Equity Securities [Abstract] | ' | ||||||||||||||||
Investments Held in Rabbi Trust, Classified as Trading | ' | ||||||||||||||||
The Company’s investments held in rabbi trust, classified as trading securities and included in “Other current assets” in the accompanying Condensed Consolidated Balance Sheets, at fair value, consist of the following (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Cost | Fair Value | Cost | Fair Value | ||||||||||||||
Mutual funds | $ | 4,493 | $ | 5,794 | $ | 4,812 | $ | 5,261 | |||||||||
Components of Investment Income (Losses), Included in Other Income (Expense) in Accompanying Consolidated Statements of Operations | ' | ||||||||||||||||
The mutual funds held in the rabbi trusts were 80% equity-based and 20% debt-based as of September 30, 2013. Net investment income (losses), included in “Other income (expense)” in the accompanying Condensed Consolidated Statements of Operations consists of the following (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Gross realized gains from sale of trading securities | $ | 27 | $ | 58 | $ | 139 | $ | 139 | |||||||||
Gross realized (losses) from sale of trading securities | - | - | (8) | (1) | |||||||||||||
Dividend and interest income | (12) | 11 | 6 | 31 | |||||||||||||
Net unrealized holding gains (losses) | 293 | 189 | 489 | 353 | |||||||||||||
Net investment income (losses) | $ | 308 | $ | 258 | $ | 626 | $ | 522 | |||||||||
Deferred_Revenue_Tables
Deferred Revenue (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Revenue Recognition [Abstract] | ' | ||||||||
Components of Deferred Revenue | ' | ||||||||
The components of deferred revenue consist of the following (in thousands): | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Future service | $ | 26,821 | $ | 25,074 | |||||
Estimated potential penalties and holdbacks | 10,366 | 9,209 | |||||||
$ | 37,187 | $ | 34,283 | ||||||
Deferred_Grants_Tables
Deferred Grants (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Text Block [Abstract] | ' | ||||||||||||||||
Schedule of Deferred Grants | ' | ||||||||||||||||
The components of deferred grants consist of the following (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Property grants | $ | 6,565 | $ | 7,270 | |||||||||||||
Employment grants | 475 | 337 | |||||||||||||||
Total long-term deferred grants (1) | $ | 7,040 | $ | 7,607 | |||||||||||||
(1) Included in “Deferred grants” in the accompanying Condensed Consolidated Balance Sheets. | |||||||||||||||||
Amortization of Deferred Grants | ' | ||||||||||||||||
Amortization of the Company’s property grants included as a reduction to “Depreciation, net” and amortization of the Company’s employment grants are primarily included as a reduction to “Direct salaries and related costs” in the accompanying Condensed Consolidated Statements of Operations consist of the following (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Amortization of property grants | $ | 253 | $ | 235 | $ | 758 | $ | 705 | |||||||||
Amortization of employment grants | 33 | 17 | 101 | 89 | |||||||||||||
$ | 286 | $ | 252 | $ | 859 | $ | 794 | ||||||||||
Borrowings_Tables
Borrowings (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Components of Borrowings | ' | ||||||||
Borrowings consist of the following (in thousands): | |||||||||
September 30, 2013 | December 31, 2012 | ||||||||
Revolving credit facility | $ | 105,000 | $ | 91,000 | |||||
Less: Current portion | - | - | |||||||
Total long-term debt | $ | 105,000 | $ | 91,000 | |||||
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Equity [Abstract] | ' | ||||||||||||||||||||||||
Components of Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
The components of accumulated other comprehensive income (loss) consist of the following (in thousands): | |||||||||||||||||||||||||
Foreign | Unrealized | Unrealized | Unrealized | Unrealized | Total | ||||||||||||||||||||
Currency | Gain (Loss) on | Actuarial Gain | Gain (Loss) on | Gain (Loss) on | |||||||||||||||||||||
Translation | Net | (Loss) Related | Cash Flow | Post | |||||||||||||||||||||
Gain (Loss) | Investment | to Pension | Hedging | Retirement | |||||||||||||||||||||
Hedge | Liability | Instruments | Obligation | ||||||||||||||||||||||
Balance at January 1, 2012 | $ | 5,995 | $ | (2,565) | $ | 985 | $ | (438) | $ | 459 | $ | 4,436 | |||||||||||||
Pre-tax amount | 9,516 | - | 499 | 4,417 | 92 | 14,524 | |||||||||||||||||||
Tax (provision) benefit | - | - | (90) | (306) | - | (396) | |||||||||||||||||||
Reclassification of (gain) loss to net income | 570 | - | (48) | (4,174) | (56) | (3,708) | |||||||||||||||||||
Foreign currency translation | 2 | - | 67 | (69) | - | - | |||||||||||||||||||
Balance at December 31, 2012 | 16,083 | (2,565) | 1,413 | (570) | 495 | 14,856 | |||||||||||||||||||
Pre-tax amount | (3,002) | (1,191) | - | (1,499) | (140) | (5,832) | |||||||||||||||||||
Tax (provision) benefit | - | 417 | - | 384 | - | 801 | |||||||||||||||||||
Reclassification of (gain) loss to net income | - | - | (45) | (217) | (44) | (306) | |||||||||||||||||||
Foreign currency translation | 97 | - | (78) | (19) | - | - | |||||||||||||||||||
Balance at September 30, 2013 | $ | 13,178 | $ | (3,339) | $ | 1,290 | $ | (1,921) | $ | 311 | $ | 9,519 | |||||||||||||
Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) | ' | ||||||||||||||||||||||||
The following table summarizes the amounts reclassified to net income from accumulated other comprehensive income (loss) and the associated line item in the accompanying Condensed Consolidated Statements of Operations (in thousands): | |||||||||||||||||||||||||
Three Months Ended | Nine Months Ended | Statements of Operations Location | |||||||||||||||||||||||
September 30, 2013 | September 30, 2013 | ||||||||||||||||||||||||
Unrealized Actuarial Gain (Loss) Related to Pension Liability: (1) | |||||||||||||||||||||||||
Pre-tax amount | $ | 16 | $ | 45 | Direct salaries and related costs | ||||||||||||||||||||
Tax (provision) benefit | - | - | Income taxes | ||||||||||||||||||||||
Reclassification to net income | 16 | 45 | |||||||||||||||||||||||
Unrealized Gain (Loss) on Cash Flow Hedging Instruments: (2) | |||||||||||||||||||||||||
Pre-tax amount | (670) | 104 | Revenues | ||||||||||||||||||||||
Tax (provision) benefit | 125 | 113 | Income taxes | ||||||||||||||||||||||
Reclassification to net income | (545) | 217 | |||||||||||||||||||||||
Unrealized Gain (Loss) on Post Retirement Obligation: (1) | |||||||||||||||||||||||||
Pre-tax amount | 14 | 44 | General and administrative | ||||||||||||||||||||||
Tax (provision) benefit | - | - | Income taxes | ||||||||||||||||||||||
Reclassification to net income | 14 | 44 | |||||||||||||||||||||||
Total reclassification to net income | $ | (515) | $ | 306 | |||||||||||||||||||||
(1) See Note 16, Defined Benefit Pension Plan and Postretirement Benefits, for further information. | |||||||||||||||||||||||||
(2) See Note 7, Financial Derivatives, for further information. |
Income_Taxes_Tables
Income Taxes (Tables) | 9 Months Ended | ||
Sep. 30, 2013 | |||
Income Tax Disclosure [Abstract] | ' | ||
Summary of Significant Tax Jurisdictions Currently under Audit | ' | ||
The significant tax jurisdictions currently under audit are as follows: | |||
Tax Jurisdiction | Tax Year Ended | ||
Canada | 2003 to 2009 | ||
Philippines | 2007 and 2009 | ||
United States | 2010 to 2012 |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Number of Shares Used in Earnings Per Share Computation | ' | ||||||||||||||||
The numbers of shares used in the earnings per share computation are as follows (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Basic: | |||||||||||||||||
Weighted average common shares outstanding | 42,785 | 43,014 | 42,918 | 43,130 | |||||||||||||
Diluted: | |||||||||||||||||
Dilutive effect of stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust | 51 | 17 | 30 | 49 | |||||||||||||
Total weighted average diluted shares outstanding | 42,836 | 43,031 | 42,948 | 43,179 | |||||||||||||
Anti-dilutive shares excluded from the diluted earnings per share calculation | 56 | - | 18 | - | |||||||||||||
Shares Repurchased | ' | ||||||||||||||||
The shares repurchased under the Company’s share repurchase programs were as follows (in thousands, except per share amounts): | |||||||||||||||||
Total Number of | Total Cost of | ||||||||||||||||
Shares | Range of Prices Paid Per Share | Shares | |||||||||||||||
Repurchased | Low | High | Repurchased | ||||||||||||||
Three Months Ended: | |||||||||||||||||
September 30, 2013 | 69 | $ | 16.91 | $ | 16.99 | $ | 1,185 | ||||||||||
September 30, 2012 | 29 | $ | 14.98 | $ | 14.98 | $ | 447 | ||||||||||
Nine Months Ended: | |||||||||||||||||
September 30, 2013 | 341 | $ | 15.61 | $ | 16.99 | $ | 5,479 | ||||||||||
September 30, 2012 | 537 | $ | 13.85 | $ | 15.00 | $ | 7,908 |
Commitments_and_Loss_Contingen1
Commitments and Loss Contingency (Tables) | 9 Months Ended | ||||
Sep. 30, 2013 | |||||
Commitments And Contingencies Disclosure [Abstract] | ' | ||||
Schedule of Future Minimum Rental Payments for Operating Leases | ' | ||||
The following is a schedule of future minimum rental payments required under operating leases that have noncancelable lease terms as of September 30, 2013 (in thousands): | |||||
Amount | |||||
2013 (remaining three months) | $ | 1,232 | |||
2014 | 5,456 | ||||
2015 | 4,899 | ||||
2016 | 2,971 | ||||
2017 | 2,706 | ||||
2018 | 2,339 | ||||
2019 and thereafter | 1,717 | ||||
Total minimum payments required | $ | 21,320 | |||
Schedule of Future Minimum Purchases Remaining under Agreements | ' | ||||
The following is a schedule of the future minimum purchases remaining under the agreements as of September 30, 2013 (in thousands): | |||||
Amount | |||||
2013 (remaining three months) | $ | 101 | |||
2014 | 2,347 | ||||
2015 | 1,839 | ||||
2016 | 544 | ||||
2017 | - | ||||
2018 | - | ||||
2019 and thereafter | - | ||||
Total minimum payments required | $ | 4,831 | |||
Defined_Benefit_Pension_Plan_a1
Defined Benefit Pension Plan and Postretirement Benefits (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Compensation And Retirement Disclosure [Abstract] | ' | ||||||||||||||||
Net Periodic Benefit Cost for Pension Plans | ' | ||||||||||||||||
The following table provides information about the net periodic benefit cost for the Company’s pension plans (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Service cost | $ | 85 | $ | 94 | $ | 252 | $ | 280 | |||||||||
Interest cost | 28 | 30 | 84 | 90 | |||||||||||||
Recognized actuarial (gains) | (15) | (11) | (45) | (35) | |||||||||||||
Net periodic benefit cost | $ | 98 | $ | 113 | $ | 291 | $ | 335 | |||||||||
Company's Contributions to Employee Retirement Savings Plans | ' | ||||||||||||||||
The Company’s contributions included in the accompanying Condensed Consolidated Statement of Operations were as follows (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
401(k) plan contributions | $ | 201 | $ | 245 | $ | 679 | $ | 977 | |||||||||
Post-Retirement Benefit Obligation and Unrealized Gain (Losses) | ' | ||||||||||||||||
The postretirement benefit obligation included in “Other long-term liabilities” and the unrealized gains (losses) included in “Accumulated other comprehensive income” in the accompanying Condensed Consolidated Balance Sheets were as follows (in thousands): | |||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||
Postretirement benefit obligation | $ | 89 | $ | 72 | |||||||||||||
Unrealized gains (losses) in AOCI (1) | $ | 311 | $ | 495 | |||||||||||||
(1) Unrealized gains (losses) are due to changes in discount rates related to the postretirement obligation. |
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||||||
Stock-Based Compensation Expense, Income Tax Benefits Related to Stock-Based Compensation and Excess Tax Benefits (Provision) Recorded by Company | ' | ||||||||||||||||
The following table summarizes the stock-based compensation expense (primarily in the Americas), income tax benefits related to the stock-based compensation and excess tax benefits (deficiencies) (in thousands): | |||||||||||||||||
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Stock-based compensation (expense) (1) | $ | (1,391) | $ | (1,250) | $ | (3,581) | $ | (3,111) | |||||||||
Income tax benefit (2) | 486 | 438 | 1,253 | 1,089 | |||||||||||||
Excess tax benefit (deficiency) from stock-based compensation (3) | - | - | (34) | (278) | |||||||||||||
(1) | Included in “General and administrative” costs in the accompanying Condensed Consolidated Statements of Operations. | ||||||||||||||||
(2) | Included in “Income taxes” in the accompanying Condensed Consolidated Statements of Operations. | ||||||||||||||||
(3) | Included in “Additional paid-in capital” in the accompanying Condensed Consolidated Statements of Changes in Shareholder’s Equity. | ||||||||||||||||
Summary of Assumptions Used to Estimate Fair Value | ' | ||||||||||||||||
The following table summarizes the assumptions used to estimate the fair value of SARs granted: | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Expected volatility | 45.2% | 47.1% | |||||||||||||||
Weighted-average volatility | 45.2% | 47.1% | |||||||||||||||
Expected dividend rate | 0.0% | 0.0% | |||||||||||||||
Expected term (in years) | 5.0 | 4.7 | |||||||||||||||
Risk-free rate | 0.8% | 0.8% | |||||||||||||||
Summary of Stock Appreciation Rights Activity | ' | ||||||||||||||||
The following table summarizes SARs activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Stock Appreciation Rights | Shares (000s) | Weighted | Weighted | Aggregate | |||||||||||||
Average Exercise | Average | Intrinsic Value | |||||||||||||||
Price | Remaining | (000s) | |||||||||||||||
Contractual | |||||||||||||||||
Term (in years) | |||||||||||||||||
Outstanding at January 1, 2013 | 865 | $ | - | ||||||||||||||
Granted | 318 | $ | - | ||||||||||||||
Exercised | - | $ | - | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Outstanding at September 30, 2013 | 1,183 | $ | - | 7.3 | $ | 1,558 | |||||||||||
Vested or expected to vest at September 30, 2013 | 1,183 | $ | - | 7.3 | $ | 1,558 | |||||||||||
Exercisable at September 30, 2013 | 648 | $ | - | 5.9 | $ | 307 | |||||||||||
Weighted Average Grant Date of SARs Granted and Total Intrinsic Value of SARs Exercised | ' | ||||||||||||||||
The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of SARs granted | 318 | 259 | |||||||||||||||
Weighted average grant-date fair value per SAR | $ | 6.08 | $ | 5.97 | |||||||||||||
Intrinsic value of SARs exercised | $ | - | $ | - | |||||||||||||
Fair value of SARs vested | $ | 1,298 | $ | 1,388 | |||||||||||||
Summary of Nonvested Stock Appreciation Rights | ' | ||||||||||||||||
The following table summarizes nonvested SARs activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Stock Appreciation Rights | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 395 | $ | 6.74 | ||||||||||||||
Granted | 318 | $ | 6.08 | ||||||||||||||
Vested | (178) | $ | 7.28 | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Nonvested at September 30, 2013 | 535 | $ | 6.17 | ||||||||||||||
Summary of Nonvested Restricted Shares and Restricted Stock Units | ' | ||||||||||||||||
The following table summarizes nonvested restricted shares/RSUs activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Restricted Shares and RSUs | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 872 | $ | 18.25 | ||||||||||||||
Granted | 706 | $ | 15.25 | ||||||||||||||
Vested | (20) | $ | 18.11 | ||||||||||||||
Forfeited or expired | (191) | $ | 23.55 | ||||||||||||||
Nonvested at September 30, 2013 | 1,367 | $ | 15.96 | ||||||||||||||
Summary of Weighted Average Grant-Date Fair Value Granted and Total Fair Value of Restricted Shares and Restricted Stock Units Vested | ' | ||||||||||||||||
The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of restricted shares/RSUs granted | 706 | 420 | |||||||||||||||
Weighted average grant-date fair value per restricted share/RSU | $ | 15.25 | $ | 15.21 | |||||||||||||
Fair value of restricted shares/RSUs vested | $ | 366 | $ | 3,845 | |||||||||||||
Summary of Nonvested Common Stock Units and Share Awards | ' | ||||||||||||||||
The following table summarizes nonvested common stock share award activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Common Stock Share Awards | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 13 | $ | 17.18 | ||||||||||||||
Granted | 37 | $ | 16.01 | ||||||||||||||
Vested | (31) | $ | 16.48 | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Nonvested at September 30, 2013 | 19 | $ | 16.01 | ||||||||||||||
Summary of Weighted Average Grant-Date Fair Value of Common Stock Units and Share Awards Granted and Total Fair Value of Common Stock Units and Share Awards Vested | ' | ||||||||||||||||
The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of share awards granted | 37 | 42 | |||||||||||||||
Weighted average grant-date fair value per share award | $ | 16.01 | $ | 16.15 | |||||||||||||
Fair value of share awards vested | $ | 519 | $ | 551 | |||||||||||||
Summary of Nonvested Common Stock | ' | ||||||||||||||||
The following table summarizes nonvested common stock activity as of September 30, 2013 and for the nine months then ended: | |||||||||||||||||
Nonvested Common Stock | Shares (000s) | Weighted | |||||||||||||||
Average Grant- | |||||||||||||||||
Date Fair Value | |||||||||||||||||
Nonvested at January 1, 2013 | 8 | $ | 16.98 | ||||||||||||||
Granted | 12 | $ | 16.30 | ||||||||||||||
Vested | (14) | $ | 16.56 | ||||||||||||||
Forfeited or expired | - | $ | - | ||||||||||||||
Nonvested at September 30, 2013 | 6 | $ | 16.56 | ||||||||||||||
Summary of Weighted Average Grant-Date Fair Value of Common Stock Awarded and Cash Used to Settle Company's Obligation under Deferred Compensation | ' | ||||||||||||||||
The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): | |||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Number of shares of common stock granted | 12 | 13 | |||||||||||||||
Weighted average grant-date fair value per common stock | $ | 16.30 | $ | 15.28 | |||||||||||||
Fair value of common stock vested | $ | 241 | $ | 178 | |||||||||||||
Cash used to settle the obligation | $ | 1,014 | $ | 263 |
Segments_and_Geographic_Inform1
Segments and Geographic Information (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Company's Reportable Segments | ' | ||||||||||||||||
Information about the Company’s reportable segments is as follows (in thousands): | |||||||||||||||||
Americas | EMEA | Other (1) | Consolidated | ||||||||||||||
Three Months Ended September 30, 2013: | |||||||||||||||||
Revenues (2) | $ | 265,878 | $ | 56,265 | $ | 322,143 | |||||||||||
Percentage of revenues | 82.5% | 17.5% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 9,532 | $ | 1,145 | $ | 10,677 | |||||||||||
Amortization of intangibles (2) | $ | 3,699 | $ | - | $ | 3,699 | |||||||||||
Income (loss) from continuing operations | $ | 26,987 | $ | 3,423 | $ | (11,631) | $ | 18,779 | |||||||||
Other (expense), net | (58) | (58) | |||||||||||||||
Income taxes | (4,575) | (4,575) | |||||||||||||||
Income from continuing operations, net of taxes | 14,146 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | - | $ | - | - | ||||||||||||
Net income | $ | 14,146 | |||||||||||||||
Total assets as of September 30, 2013 | $ | 1,119,017 | $ | 1,377,992 | $ | (1,547,118) | $ | 949,891 | |||||||||
Three Months Ended September 30, 2012: | |||||||||||||||||
Revenues (2) | $ | 237,541 | $ | 42,985 | $ | 280,526 | |||||||||||
Percentage of revenues | 84.7% | 15.3% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 8,579 | $ | 1,004 | $ | 9,583 | |||||||||||
Amortization of intangibles (2) | $ | 2,774 | $ | - | $ | 2,774 | |||||||||||
Income (loss) from continuing operations | $ | 21,654 | $ | 2,359 | $ | (15,341) | $ | 8,672 | |||||||||
Other (expense), net | (839) | (839) | |||||||||||||||
Income taxes | 309 | 309 | |||||||||||||||
Income from continuing operations, net of taxes | 8,142 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | - | $ | - | - | ||||||||||||
Net income | $ | 8,142 | |||||||||||||||
Total assets as of September 30, 2012 | $ | 1,265,146 | $ | 1,073,201 | $ | (1,433,732) | $ | 904,615 | |||||||||
Nine Months Ended September 30, 2013: | |||||||||||||||||
Revenues (2) | $ | 776,255 | $ | 151,867 | $ | 928,122 | |||||||||||
Percentage of revenues | 83.6% | 16.4% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 27,789 | $ | 3,074 | $ | 30,863 | |||||||||||
Amortization of intangibles (2) | $ | 11,171 | $ | - | $ | 11,171 | |||||||||||
Income (loss) from continuing operations | $ | 65,730 | $ | 3,354 | $ | (34,811) | $ | 34,273 | |||||||||
Other (expense), net | (926) | (926) | |||||||||||||||
Income taxes | (7,087) | (7,087) | |||||||||||||||
Income from continuing operations, net of taxes | 26,260 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | - | $ | - | - | ||||||||||||
Net income | $ | 26,260 | |||||||||||||||
Nine Months Ended September 30, 2012: | |||||||||||||||||
Revenues (2) | $ | 688,841 | $ | 134,585 | $ | 823,426 | |||||||||||
Percentage of revenues | 83.7% | 16.3% | 100.0% | ||||||||||||||
Depreciation, net (2) | $ | 27,043 | $ | 2,990 | $ | 30,033 | |||||||||||
Amortization of intangibles (2) | $ | 6,644 | $ | - | $ | 6,644 | |||||||||||
Income (loss) from continuing operations | $ | 69,388 | $ | 1,861 | $ | (39,182) | $ | 32,067 | |||||||||
Other (expense), net | (1,838) | (1,838) | |||||||||||||||
Income taxes | (3,569) | (3,569) | |||||||||||||||
Income from continuing operations, net of taxes | 26,660 | ||||||||||||||||
(Loss) from discontinued operations, net of taxes (3) | $ | (6,302) | $ | (5,225) | (11,527) | ||||||||||||
Net income | $ | 15,133 | |||||||||||||||
(1) | Other items (including corporate costs, impairment costs, other income and expense, and income taxes) are shown for purposes of reconciling to the Company’s consolidated totals as shown in the tables above for the three and nine months ended September 30, 2013 and 2012. Inter-segment revenues are not material to the Americas and EMEA segment results. The Company evaluates the performance of its geographic segments based on revenue and income (loss) from operations, and does not include segment assets or other income and expense items for management reporting purposes. | ||||||||||||||||
(2) | Revenues and depreciation and amortization include results from continuing operations only. | ||||||||||||||||
(3) | Includes the (loss) from discontinued operations, net of taxes, as well as the (loss) on sale of discontinued operations, net of taxes, if any. |
Other_Income_Expense_Tables
Other Income (Expense) (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Other Income And Expenses [Abstract] | ' | ||||||||||||||||
Schedule of Other Income (Expense) | ' | ||||||||||||||||
Other income (expense) consists of the following (in thousands): | |||||||||||||||||
Three Months Ended September | Nine Months Ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Foreign currency transaction gains (losses) | $ | (470) | $ | (193) | $ | (3,204) | $ | (1,771) | |||||||||
Gains (losses) on foreign currency derivative instruments not designated as hedges | 546 | (849) | 2,776 | (1,046) | |||||||||||||
Other miscellaneous income (expense) | 280 | 327 | 570 | 1,013 | |||||||||||||
$ | 356 | $ | (715) | $ | 142 | $ | (1,804) | ||||||||||
Overview_and_Basis_of_Presenta2
Overview and Basis of Presentation - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Segment | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Number of reportable segments | 2 |
Alpine Access, Inc [Member] | Americas [Member] | ' |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ' |
Business acquisition date | 20-Aug-12 |
Acquisition_of_Alpine_Access_I2
Acquisition of Alpine Access, Inc - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 20, 2012 | Sep. 30, 2012 | Sep. 30, 2013 |
Alpine Access, Inc [Member] | Alpine Access, Inc [Member] | Alpine Access, Inc [Member] | |||
Americas [Member] | Americas [Member] | Americas [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' |
Percentage of common shares and voting rights acquired | ' | ' | 100.00% | ' | ' |
Business acquisition date | ' | ' | ' | ' | 20-Aug-12 |
Fair value of the consideration transferred | ' | ' | $148,953,000 | ' | ' |
Consideration by cash | ' | ' | 41,000,000 | ' | ' |
Proceeds from draw down under credit agreement | ' | ' | 108,000,000 | ' | ' |
Goodwill | 201,514,000 | 204,231,000 | 80,766,000 | ' | ' |
Fair value of receivables purchased | ' | ' | 11,831,000 | ' | ' |
Gross contractual amount | ' | ' | 11,800,000 | ' | ' |
(Loss) from continuing operations before income taxes | ' | ' | ' | -1,935,000 | ' |
Severance-related costs, depreciation and amortization | ' | ' | ' | $1,300,000 | ' |
Acquisition_of_Alpine_Access_I3
Acquisition of Alpine Access, Inc - Summary of Final Purchase Price Allocation of Fair Values of Assets Acquired and Liabilities Assumed (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 20, 2012 |
In Thousands, unless otherwise specified | Alpine Access, Inc [Member] | ||
Americas [Member] | |||
Business Acquisition [Line Items] | ' | ' | ' |
Cash and cash equivalents | ' | ' | $1,859 |
Receivables | ' | ' | 11,831 |
Prepaid expenses | ' | ' | 617 |
Total current assets | ' | ' | 14,307 |
Property and equipment | ' | ' | 11,326 |
Goodwill | 201,514 | 204,231 | 80,766 |
Intangibles | ' | ' | 57,720 |
Deferred charges and other assets | ' | ' | 916 |
Accounts payable | ' | ' | -880 |
Accrued employee compensation and benefits | ' | ' | -3,774 |
Income taxes payable | ' | ' | -141 |
Deferred revenue | ' | ' | -94 |
Other accrued expenses and current liabilities | ' | ' | -601 |
Total current liabilities | ' | ' | -5,490 |
Other long-term liabilities | ' | ' | -10,592 |
Purchase price, total | ' | ' | $148,953 |
Acquisition_of_Alpine_Access_I4
Acquisition of Alpine Access, Inc - Summary of Purchased Intangible Assets (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 1 Months Ended | ||||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Aug. 20, 2012 | Aug. 20, 2012 | Aug. 20, 2012 | Aug. 20, 2012 | Aug. 20, 2012 |
Customer Relationships [Member] | Customer Relationships [Member] | Trade Names [Member] | Trade Names [Member] | Non-Compete Agreements [Member] | Non-Compete Agreements [Member] | Favorable Lease Agreement [Member] | Favorable Lease Agreement [Member] | Alpine Access, Inc [Member] | Alpine Access, Inc [Member] | Alpine Access, Inc [Member] | Alpine Access, Inc [Member] | Alpine Access, Inc [Member] | |||
Americas [Member] | Customer Relationships [Member] | Trade Names [Member] | Non-Compete Agreements [Member] | Favorable Lease Agreement [Member] | |||||||||||
Americas [Member] | Americas [Member] | Americas [Member] | Americas [Member] | ||||||||||||
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amount Assigned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $57,720 | $46,000 | $10,600 | $670 | $450 |
Weighted Average Amortization Period (years) | '8 years | '8 years | '8 years | '8 years | '8 years | '8 years | '2 years | '2 years | '2 years | '2 years | '8 years | '8 years | '8 years | '2 years | '2 years |
Acquisition_of_Alpine_Access_I5
Acquisition of Alpine Access, Inc - Revenues and Earnings of Acquired Entity Since Acquisition Date (Detail) (Alpine Access, Inc [Member], Americas [Member], USD $) | 1 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 |
Alpine Access, Inc [Member] | Americas [Member] | ' |
Business Acquisition [Line Items] | ' |
Revenues | $10,095 |
(Loss) from continuing operations before income taxes | -1,935 |
(Loss) from continuing operations, net of taxes | ($1,907) |
Acquisition_of_Alpine_Access_I6
Acquisition of Alpine Access, Inc - Combined Pro Forma of Revenues and Net Earnings (Detail) (Alpine Access, Inc [Member], Americas [Member], USD $) | 3 Months Ended | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 |
Alpine Access, Inc [Member] | Americas [Member] | ' | ' |
Business Acquisition [Line Items] | ' | ' |
Revenues | $292,580 | $885,878 |
Income from continuing operations, net of taxes | $9,622 | $24,296 |
Income from continuing operations per common share: | ' | ' |
Basic | $0.22 | $0.57 |
Diluted | $0.22 | $0.57 |
Acquisition_of_Alpine_Access_I7
Acquisition of Alpine Access, Inc - Merger and Integration Costs (Detail) (Alpine Access, Inc [Member], USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Transaction and integration costs: | ' | ' | ' | ' |
Total merger and integration costs | $70 | $3,742 | $2,114 | $3,792 |
Direct Salaries and Related Costs [Member] | ' | ' | ' | ' |
Severance costs: | ' | ' | ' | ' |
Severance costs | -7 | ' | 526 | ' |
General and Administrative [Member] | ' | ' | ' | ' |
Severance costs: | ' | ' | ' | ' |
Severance costs | 4 | 697 | 1,144 | 697 |
Transaction and integration costs: | ' | ' | ' | ' |
Transaction and integration costs | 73 | 3,045 | 444 | 3,095 |
Americas [Member] | Direct Salaries and Related Costs [Member] | ' | ' | ' | ' |
Severance costs: | ' | ' | ' | ' |
Severance costs | -7 | ' | 526 | ' |
Americas [Member] | General and Administrative [Member] | ' | ' | ' | ' |
Severance costs: | ' | ' | ' | ' |
Severance costs | 4 | 320 | 985 | 320 |
Corporate [Member] | General and Administrative [Member] | ' | ' | ' | ' |
Severance costs: | ' | ' | ' | ' |
Severance costs | ' | 377 | 159 | 377 |
Transaction and integration costs: | ' | ' | ' | ' |
Transaction and integration costs | $73 | $3,045 | $444 | $3,095 |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (Spain [Member], USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Mar. 30, 2012 | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 | Mar. 29, 2012 | |
Facility | |||||
Spain [Member] | ' | ' | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' | ' | ' |
Revenues | ' | ' | $10,102,000 | $39,300,000 | ' |
Number of customer contact management centers | ' | ' | ' | 3 | ' |
FMV of fixed assets sold to buyer | ' | ' | ' | ' | 0 |
Cash sold to buyer | ' | ' | ' | ' | 4,100,000 |
Payroll liabilities assumed by buyer | ' | ' | ' | ' | 1,700,000 |
Capital contribution by Company | $8,600,000 | ' | ' | ' | ' |
Discontinued_Operations_Result
Discontinued Operations - Results of Spanish Operations Included in Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2012 | Sep. 30, 2012 | Dec. 31, 2011 |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
(Loss) from discontinued operations, net of taxes | ' | ($820) | ' |
(Loss) on sale of discontinued operations before income taxes | ' | -10,707 | ' |
(Loss) on sale of discontinued operations, net of taxes | ' | -10,707 | ' |
Spain [Member] | ' | ' | ' |
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ' | ' | ' |
Revenues | ' | 10,102 | 39,300 |
(Loss) from discontinued operations before income taxes | ' | -820 | ' |
Income taxes | ' | ' | ' |
(Loss) from discontinued operations, net of taxes | ' | -820 | ' |
(Loss) on sale of discontinued operations before income taxes | ' | -10,707 | ' |
Income taxes | ' | ' | ' |
(Loss) on sale of discontinued operations, net of taxes | ' | ($10,707) | ' |
Costs_Associated_with_Exit_or_2
Costs Associated with Exit or Disposal Activities - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | |
Americas [Member] | Americas [Member] | Americas [Member] | Americas [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | EMEA [Member] | |||||
Fourth Quarter 2011 Exit Plan [Member] | Fourth Quarter 2011 Exit Plan [Member] | Third Quarter 2010 Exit Plan [Member] | Third Quarter 2010 Exit Plan [Member] | Fourth Quarter 2011 Exit Plan [Member] | Fourth Quarter 2011 Exit Plan [Member] | Fourth Quarter 2011 Exit Plan [Member] | Fourth Quarter 2011 Exit Plan [Member] | Fourth Quarter 2011 Exit Plan [Member] | Fourth Quarter 2010 Exit Plan [Member] | Fourth Quarter 2010 Exit Plan [Member] | |||||
Seat | Facility | Seat | Direct Salaries and Related Costs [Member] | General and Administrative [Member] | |||||||||||
Employees | Employees | ||||||||||||||
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated seat rationalization associated with exit or disposal activities | ' | ' | ' | ' | 900 | ' | ' | ' | 900 | ' | ' | ' | ' | ' | ' |
Estimated employee rationalization associated with exit or disposal activities | ' | ' | ' | ' | 300 | ' | ' | ' | 500 | ' | ' | ' | ' | ' | ' |
Estimated total costs, some of which may have already been incurred, under the restructuring plan | ' | ' | ' | ' | $1,900,000 | $1,900,000 | $10,500,000 | $10,500,000 | $6,700,000 | ' | $6,700,000 | ' | ' | $2,200,000 | $2,200,000 |
Impairment of long-lived assets | ' | 122,000 | ' | 271,000 | 500,000 | ' | 3,800,000 | ' | 500,000 | ' | ' | ' | ' | 200,000 | ' |
Estimated facility-related, program transfer, severance-related and other costs | ' | ' | ' | ' | 1,400,000 | ' | ' | ' | 6,200,000 | ' | ' | ' | ' | ' | ' |
Cash payment related to restructuring plan | ' | ' | ' | ' | 800,000 | ' | 4,700,000 | ' | 5,900,000 | ' | ' | ' | ' | 1,700,000 | ' |
Lease termination date | ' | ' | ' | ' | 28-Feb-17 | ' | 28-Feb-17 | ' | 31-Mar-13 | ' | ' | ' | ' | 31-Mar-14 | ' |
Estimated revenue migrated associated with exit or disposal activities | ' | ' | ' | ' | ' | ' | ' | ' | 3,200,000 | ' | ' | ' | ' | ' | ' |
Estimated revenue not migrated associated with exit or disposal activities | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,800,000 | ' | ' | ' | ' | ' |
Cash expenditure for severance related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' |
Lease obligations and facility exit costs, severance and related costs and legal-related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | ' | ' |
Estimated facility-related and program transfer costs | ' | ' | ' | ' | ' | ' | 6,700,000 | ' | ' | ' | ' | ' | ' | 1,800,000 | ' |
Estimated severance-related costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $200,000 | ' |
Number of closed customer contact management centers | ' | ' | ' | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' |
Costs_Associated_with_Exit_or_3
Costs Associated with Exit or Disposal Activities - Summary of Accrued Liability Associated with Company's Exit Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' | $3,969 |
Short-term accrued restructuring liability | 981 | ' | 981 | ' | 1,401 |
Long-term accrued restructuring liability | 1,920 | ' | 1,920 | ' | 2,568 |
Ending balance | 2,901 | ' | 2,901 | ' | 3,969 |
Fourth Quarter 2011 Exit Plan [Member] | Americas [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' | 682 |
Short-term accrued restructuring liability | 135 | ' | 135 | ' | 138 |
Long-term accrued restructuring liability | 418 | ' | 418 | ' | 544 |
Ending balance | 553 | ' | 553 | ' | 682 |
Fourth Quarter 2011 Exit Plan [Member] | EMEA [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 189 | 3,890 | 197 | 5,060 | ' |
Short-term accrued restructuring liability | 129 | ' | 129 | ' | 197 |
Charges (reversal) of exit or disposal activities and related charges | -67 | 163 | -57 | 1,176 | ' |
Cash Payments | ' | -2,907 | -18 | -4,998 | ' |
Other Non-Cash Changes | 7 | -10 | 7 | -102 | ' |
Ending balance | 129 | 1,136 | 129 | 1,136 | ' |
Fourth Quarter 2010 Exit Plan [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' | 539 |
Short-term accrued restructuring liability | 220 | ' | 220 | ' | 448 |
Long-term accrued restructuring liability | ' | ' | ' | ' | 91 |
Ending balance | 220 | ' | 220 | ' | 539 |
Third Quarter 2010 Exit Plan [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | ' | ' | ' | ' | 2,551 |
Short-term accrued restructuring liability | 497 | ' | 497 | ' | 618 |
Long-term accrued restructuring liability | 1,502 | ' | 1,502 | ' | 1,933 |
Ending balance | 1,999 | ' | 1,999 | ' | 2,551 |
Lease Obligations and Facility Exit Costs [Member] | Fourth Quarter 2011 Exit Plan [Member] | Americas [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 606 | 598 | 682 | ' | ' |
Charges (reversal) of exit or disposal activities and related charges | ' | 418 | ' | 1,074 | ' |
Cash Payments | -53 | -281 | -129 | -339 | ' |
Ending balance | 553 | 735 | 553 | 735 | ' |
Lease Obligations and Facility Exit Costs [Member] | Fourth Quarter 2011 Exit Plan [Member] | EMEA [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | ' | 565 | ' | 577 | ' |
Charges (reversal) of exit or disposal activities and related charges | ' | ' | ' | ' | ' |
Cash Payments | ' | -5 | ' | -5 | ' |
Other Non-Cash Changes | ' | 8 | ' | -4 | ' |
Ending balance | ' | 568 | ' | 568 | ' |
Lease Obligations and Facility Exit Costs [Member] | Fourth Quarter 2010 Exit Plan [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 356 | 656 | 539 | 835 | ' |
Cash Payments | -145 | -66 | -325 | -229 | ' |
Other Non-Cash Changes | 9 | 5 | 6 | -11 | ' |
Ending balance | 220 | 595 | 220 | 595 | ' |
Lease Obligations and Facility Exit Costs [Member] | Third Quarter 2010 Exit Plan [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 2,165 | 2,755 | 2,551 | 3,427 | ' |
Cash Payments | -166 | -146 | -550 | -818 | ' |
Other Non-Cash Changes | ' | ' | -2 | ' | ' |
Ending balance | 1,999 | 2,609 | 1,999 | 2,609 | ' |
Severance and Related Costs [Member] | Fourth Quarter 2011 Exit Plan [Member] | EMEA [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 184 | 3,320 | 187 | 4,470 | ' |
Charges (reversal) of exit or disposal activities and related charges | -62 | 151 | -56 | 1,093 | ' |
Cash Payments | ' | -2,886 | -8 | -4,898 | ' |
Other Non-Cash Changes | 7 | -17 | 6 | -97 | ' |
Ending balance | 129 | 568 | 129 | 568 | ' |
Legal-Related Costs [Member] | Fourth Quarter 2011 Exit Plan [Member] | EMEA [Member] | ' | ' | ' | ' | ' |
Restructuring Cost and Reserve [Line Items] | ' | ' | ' | ' | ' |
Beginning balance | 5 | 5 | 10 | 13 | ' |
Charges (reversal) of exit or disposal activities and related charges | -5 | 12 | -1 | 83 | ' |
Cash Payments | ' | -16 | -10 | -95 | ' |
Other Non-Cash Changes | ' | ($1) | $1 | ($1) | ' |
Fair_Value_Assets_and_Liabilit
Fair Value - Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Assets: | ' | ' |
Total assets | $16,447 | $14,958 |
Liabilities: | ' | ' |
Long-term debt | 105,000 | 91,000 |
Total liabilities | 109,478 | 91,974 |
Money Market Funds and Open-End Mutual Funds [Member] | ' | ' |
Assets: | ' | ' |
Money market funds and open-end mutual funds included in "Cash and cash equivalents" | 7,763 | 7,598 |
Money market funds and open-end mutual funds in "Deferred charges and other assets" | 11 | 11 |
Foreign Currency Forward and Option Contracts Included in Other Current Assets [Member] | ' | ' |
Assets: | ' | ' |
Foreign currency forward and option contracts | 2,299 | 2,008 |
Forward Currency Forward Contracts Included in Deferred Charges and Other Assets [Member] | ' | ' |
Assets: | ' | ' |
Foreign currency forward and option contracts | 500 | ' |
Equity Investments Held in a Rabbi Trust for the Deferred Compensation Plan [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | 4,628 | 3,212 |
Debt Investments Held in a Rabbi Trust for the Deferred Compensation Plan [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | 1,166 | 2,049 |
Guaranteed Investment Certificates [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | 80 | 80 |
Foreign Currency Forward and Option Contracts Included in Other Accrued Expenses and Current Liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Foreign currency forward and option contracts | 4,478 | 974 |
Fair Value, Inputs, Level 1[Member] | ' | ' |
Assets: | ' | ' |
Total assets | 13,568 | 12,870 |
Fair Value, Inputs, Level 1[Member] | Money Market Funds and Open-End Mutual Funds [Member] | ' | ' |
Assets: | ' | ' |
Money market funds and open-end mutual funds included in "Cash and cash equivalents" | 7,763 | 7,598 |
Money market funds and open-end mutual funds in "Deferred charges and other assets" | 11 | 11 |
Fair Value, Inputs, Level 1[Member] | Equity Investments Held in a Rabbi Trust for the Deferred Compensation Plan [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | 4,628 | 3,212 |
Fair Value, Inputs, Level 1[Member] | Debt Investments Held in a Rabbi Trust for the Deferred Compensation Plan [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | 1,166 | 2,049 |
Fair Value, Inputs, Level 2 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | 2,879 | 2,088 |
Liabilities: | ' | ' |
Long-term debt | 105,000 | 91,000 |
Total liabilities | 109,478 | 91,974 |
Fair Value, Inputs, Level 2 [Member] | Foreign Currency Forward and Option Contracts Included in Other Current Assets [Member] | ' | ' |
Assets: | ' | ' |
Foreign currency forward and option contracts | 2,299 | 2,008 |
Fair Value, Inputs, Level 2 [Member] | Forward Currency Forward Contracts Included in Deferred Charges and Other Assets [Member] | ' | ' |
Assets: | ' | ' |
Foreign currency forward and option contracts | 500 | ' |
Fair Value, Inputs, Level 2 [Member] | Guaranteed Investment Certificates [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | 80 | 80 |
Fair Value, Inputs, Level 2 [Member] | Foreign Currency Forward and Option Contracts Included in Other Accrued Expenses and Current Liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Foreign currency forward and option contracts | 4,478 | 974 |
Fair Value, Inputs, Level 3 [Member] | ' | ' |
Assets: | ' | ' |
Total assets | ' | ' |
Liabilities: | ' | ' |
Long-term debt | ' | ' |
Total liabilities | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Money Market Funds and Open-End Mutual Funds [Member] | ' | ' |
Assets: | ' | ' |
Money market funds and open-end mutual funds included in "Cash and cash equivalents" | ' | ' |
Money market funds and open-end mutual funds in "Deferred charges and other assets" | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Foreign Currency Forward and Option Contracts Included in Other Current Assets [Member] | ' | ' |
Assets: | ' | ' |
Foreign currency forward and option contracts | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Forward Currency Forward Contracts Included in Deferred Charges and Other Assets [Member] | ' | ' |
Assets: | ' | ' |
Foreign currency forward and option contracts | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Equity Investments Held in a Rabbi Trust for the Deferred Compensation Plan [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Debt Investments Held in a Rabbi Trust for the Deferred Compensation Plan [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Guaranteed Investment Certificates [Member] | ' | ' |
Assets: | ' | ' |
Debt investments held in a rabbi trust for the Deferred Compensation Plan | ' | ' |
Fair Value, Inputs, Level 3 [Member] | Foreign Currency Forward and Option Contracts Included in Other Accrued Expenses and Current Liabilities [Member] | ' | ' |
Liabilities: | ' | ' |
Foreign currency forward and option contracts | ' | ' |
Fair_Value_Impairment_Losses_R
Fair Value - Impairment Losses Related to Nonrecurring Fair Value Measurements of Certain Assets (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Property and equipment, net | ' | ($122) | ' | ($271) |
Americas [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member] | Continuing Operations [Member] | ' | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ' |
Property and equipment, net | ' | ($122) | ' | ($271) |
Fair_Value_Additional_Informat
Fair Value - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | ' |
Impairment of long-lived assets | ' | $122 | ' | $271 |
Americas [Member] | Canada [Member] | ' | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | ' |
Impairment of long-lived assets | ' | 100 | ' | 100 |
Number of closed customer contact management center | ' | 1 | ' | 1 |
Americas [Member] | Costa Rica [Member] | ' | ' | ' | ' |
Impaired Long-Lived Assets Held and Used [Line Items] | ' | ' | ' | ' |
Impairment of long-lived assets | ' | ' | ' | $100 |
Number of closed customer contact management center | ' | ' | ' | 1 |
Intangible_Assets_Companys_Pur
Intangible Assets - Company's Purchased Intangible Assets (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Intangibles | $117,622 | $118,612 |
Accumulated Amortization | -37,433 | -26,575 |
Net Intangibles | 80,189 | 92,037 |
Weighted Average Amortization Period (years) | '8 years | '8 years |
Customer Relationships [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Intangibles | 103,498 | 104,483 |
Accumulated Amortization | -32,943 | -23,552 |
Net Intangibles | 70,555 | 80,931 |
Weighted Average Amortization Period (years) | '8 years | '8 years |
Trade Names [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Intangibles | 11,600 | 11,600 |
Accumulated Amortization | -2,472 | -1,451 |
Net Intangibles | 9,128 | 10,149 |
Weighted Average Amortization Period (years) | '8 years | '8 years |
Non-Compete Agreements [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Intangibles | 1,224 | 1,229 |
Accumulated Amortization | -929 | -681 |
Net Intangibles | 295 | 548 |
Weighted Average Amortization Period (years) | '2 years | '2 years |
Proprietary Software [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Intangibles | 850 | 850 |
Accumulated Amortization | -839 | -810 |
Net Intangibles | 11 | 40 |
Weighted Average Amortization Period (years) | '2 years | '2 years |
Favorable Lease Agreement [Member] | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross Intangibles | 450 | 450 |
Accumulated Amortization | -250 | -81 |
Net Intangibles | $200 | $369 |
Weighted Average Amortization Period (years) | '2 years | '2 years |
Intangible_Assets_Estimated_Fu
Intangible Assets - Estimated Future Amortization Expense (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Finite Lived Intangible Assets Future Amortization Expense [Abstract] | ' |
2013 (remaining three months) | $3,680 |
2014 | 14,587 |
2015 | 14,229 |
2016 | 14,229 |
2017 | 14,229 |
2018 | 7,668 |
2019 and thereafter | $11,567 |
Financial_Derivatives_Deferred
Financial Derivatives - Deferred Gains (Losses) and Related Taxes on Cash Flow Hedges (Detail) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' | ' |
Deferred gains (losses) in AOCI | ($2,136) | ($512) |
Tax on deferred gains (losses) in AOCI | 215 | -58 |
Deferred gains (losses) in AOCI, net of taxes | -1,921 | -570 |
Deferred gains (losses) expected to be reclassified to "Revenues" from AOCI during the next twelve months | ($2,450) | ' |
Financial_Derivatives_Addition
Financial Derivatives - Additional Information (Detail) (USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2013 |
Derivative Instruments And Hedging Activities Disclosure [Abstract] | ' |
Maximum period of foreign currency hedge contracts | '180 days |
Maximum amount of loss due to credit risk | $2.80 |
Financial_Derivatives_Outstand
Financial Derivatives - Outstanding Foreign Currency Forward Contracts and Options (Detail) (USD $) | 9 Months Ended | 12 Months Ended |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Option Contracts [Member] | Philippine Pesos [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | $77,000 | $71,000 |
Settle Through Date | 31-Dec-14 | 30-Sep-13 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Forwards [Member] | Philippine Pesos [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 62,850 | 5,000 |
Settle Through Date | 31-Jul-14 | 31-Aug-13 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Forwards [Member] | Costa Rican Colones [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 44,250 | 60,750 |
Settle Through Date | 31-Aug-14 | 31-Dec-13 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Forwards [Member] | Hungarian Forints [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 2,164 | 4,744 |
Settle Through Date | 31-Jan-14 | 31-Jan-14 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Forwards [Member] | Romanian Leis [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 2,435 | 6,895 |
Settle Through Date | 31-Jan-14 | 31-Jan-14 |
Derivatives Designated as Net Investment Hedging Instruments under ASC 815 [Member] | Forwards [Member] | Euros [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | 32,657 | ' |
Settle Through Date | 30-Sep-14 | ' |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Forwards [Member] | ' | ' |
Derivative [Line Items] | ' | ' |
Notional Amount | $70,176 | $41,799 |
Settle Through Date | 31-Mar-14 | 30-Jun-13 |
Financial_Derivatives_Derivati
Financial Derivatives - Derivative Instruments Fair Value (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Assets | $2,799 | $2,008 |
Derivative Liabilities | 4,478 | 974 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward and Option Contracts [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Assets | 1,864 | 1,094 |
Derivative Liabilities | 3,184 | 912 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Assets | 1,364 | 1,080 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward and Option Contracts [Member] | Deferred Charges and Other Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Assets | 500 | 14 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Accrued Expenses and Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities | 3,184 | 904 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities | ' | 8 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Current Assets [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Assets | 935 | 914 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Accrued Expenses and Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities | 103 | 62 |
Derivatives Designated as Net Investment Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Accrued Expenses and Current Liabilities [Member] | ' | ' |
Derivatives, Fair Value [Line Items] | ' | ' |
Derivative Liabilities | $1,191 | ' |
Financial_Derivatives_Effect_o
Financial Derivatives - Effect of Company's Derivative Instruments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | ($1,082) | $127 | ($2,790) | $4,090 |
Gain (Loss) Reclassified From Accumulated AOCI Into "Revenues" (Effective Portion) | -795 | 1,631 | 4 | 2,290 |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion) | 125 | ' | 100 | 17 |
Derivatives Designated as Cash Flow Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Option Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | 145 | 127 | -1,599 | 4,090 |
Gain (Loss) Reclassified From Accumulated AOCI Into "Revenues" (Effective Portion) | -795 | 1,631 | 4 | 2,290 |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion) | 125 | ' | 100 | 17 |
Derivatives Designated as Net Investment Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | -1,227 | ' | -1,191 | ' |
Gain (Loss) Reclassified From Accumulated AOCI Into "Revenues" (Effective Portion) | ' | ' | ' | ' |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion) | ' | ' | ' | ' |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | ' | ' | ' | ' |
Derivative Instruments, Gain (Loss) [Line Items] | ' | ' | ' | ' |
Gain (Loss) Recognized in "Other income and (expense)" on Derivatives | $546 | ($849) | $2,776 | ($1,046) |
Investments_Held_in_Rabbi_Trus2
Investments Held in Rabbi Trust - Investments Held in Rabbi Trust, Classified as Trading (Detail) (Mutual Funds [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Mutual Funds [Member] | ' | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' | ' |
Mutual funds, Cost | $4,493 | $4,812 |
Mutual funds, Fair Value | $5,794 | $5,261 |
Investments_Held_in_Rabbi_Trus3
Investments Held in Rabbi Trust - Additional Information (Detail) | Sep. 30, 2013 |
Equity-Based Securities [Member] | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' |
Mutual funds held in rabbi trust | 80.00% |
Debt-Based Securities [Member] | ' |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ' |
Mutual funds held in rabbi trust | 20.00% |
Investments_Held_in_Rabbi_Trus4
Investments Held in Rabbi Trust - Components of Investment Income (Losses), Included in Other Income (Expense) in Accompanying Consolidated Statements of Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Investments Debt And Equity Securities [Abstract] | ' | ' | ' | ' |
Gross realized gains from sale of trading securities | $27 | $58 | $139 | $139 |
Gross realized (losses) from sale of trading securities | ' | ' | -8 | -1 |
Dividend and interest income | -12 | 11 | 6 | 31 |
Net unrealized holding gains (losses) | 293 | 189 | 489 | 353 |
Net investment income (losses) | $308 | $258 | $626 | $522 |
Deferred_Revenue_Components_of
Deferred Revenue - Components of Deferred Revenue (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Revenue Disclosure [Abstract] | ' | ' |
Future service | $26,821 | $25,074 |
Estimated potential penalties and holdbacks | 10,366 | 9,209 |
Deferred revenue | $37,187 | $34,283 |
Deferred_Grants_Schedule_of_De
Deferred Grants - Schedule of Deferred Grants (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Deferred Grants [Abstract] | ' | ' |
Property grants | $6,565 | $7,270 |
Employment grants | 475 | 337 |
Total long-term deferred grants | $7,040 | $7,607 |
Deferred_Grants_Amortization_o
Deferred Grants - Amortization of Deferred Grants (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Deferred Grants [Abstract] | ' | ' | ' | ' |
Amortization of property grants | $253 | $235 | $758 | $705 |
Amortization of employment grants | 33 | 17 | 101 | 89 |
Amortization of deferred grants | $286 | $252 | $859 | $794 |
Borrowings_Additional_Informat
Borrowings - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | 31-May-12 | 3-May-12 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 02, 2010 | Aug. 20, 2012 | 3-May-12 | 3-May-12 | 3-May-12 |
2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2012 Credit Agreement [Member] | 2010 Credit Agreement [Member] | Revolving Credit Facility [Member] | Alternate-Currency Sub-Facility [Member] | Swingline Sub-Facility [Member] | Letter of Credit Sub-Facility [Member] | |||
Non-Voting Capital Stock Direct Foreign Subsidiaries [Member] | Voting Capital Stock Direct Foreign Subsidiaries [Member] | ||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | $245,000,000 | ' | ' | $75,000,000 | ' | $184,000,000 | $10,000,000 | $35,000,000 |
Proceeds from borrowings under credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 108,000,000 | ' | ' | ' |
Line of credit facility, expiration date | ' | ' | ' | ' | 2-May-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Varying installments due | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement interest rate description | ' | ' | ' | ' | 'Borrowings under the 2012 Credit Agreement will bear interest at the rates set forth in the Credit Agreement. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit agreement customary fees description | ' | ' | ' | ' | 'The Company is required to pay certain customary fees, including a commitment fee of 0.175%, which is due quarterly in arrears and calculated on the average unused amount of the 2012 Credit Agreement. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Commitment fee | ' | ' | ' | ' | 0.18% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Percentage of capital stock pledged under credit agreement | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | 65.00% | ' | ' | ' | ' | ' |
Underwriting fee for credit agreement | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Outstanding borrowings | 105,000,000 | 91,000,000 | 105,000,000 | ' | 105,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Average daily utilization of borrowings | ' | ' | 110,400,000 | 106,100,000 | 102,500,000 | 106,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, excluding amortization of deferred loan fees | ' | ' | $400,000 | $200,000 | $1,100,000 | $200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average interest rate | ' | ' | 1.50% | 1.60% | 1.50% | 1.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Borrowings_Components_of_Borro
Borrowings - Components of Borrowings (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Line of Credit Facility [Line Items] | ' | ' |
Total long-term debt | $105,000 | $91,000 |
Revolving Credit Facility [Member] | ' | ' |
Line of Credit Facility [Line Items] | ' | ' |
Revolving credit facility | 105,000 | 91,000 |
Less: Current portion | ' | ' |
Total long-term debt | $105,000 | $91,000 |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
Foreign Currency Translation Gain (Loss) [Member] | Foreign Currency Translation Gain (Loss) [Member] | Unrealized Gain (Loss) on Net Investment Hedge [Member] | Unrealized Gain (Loss) on Net Investment Hedge [Member] | Unrealized Actuarial Gain (Loss) Related to Pension Liability [Member] | Unrealized Actuarial Gain (Loss) Related to Pension Liability [Member] | Unrealized Gain (Loss) on Cash Flow Hedging Instruments [Member] | Unrealized Gain (Loss) on Cash Flow Hedging Instruments [Member] | Unrealized Gain (Loss) on Post Retirement Obligation [Member] | Unrealized Gain (Loss) on Post Retirement Obligation [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Beginning balance, accumulated other comprehensive income (loss) | $14,856 | $4,436 | $16,083 | $5,995 | ($2,565) | ($2,565) | $1,413 | $985 | ($570) | ($438) | $495 | $459 |
Pre-tax amount | -5,832 | 14,524 | -3,002 | 9,516 | -1,191 | ' | ' | 499 | -1,499 | 4,417 | -140 | 92 |
Tax (provision) benefit | 801 | -396 | ' | ' | 417 | ' | ' | -90 | 384 | -306 | ' | ' |
Reclassification of (gain) loss to net income | -306 | -3,708 | ' | 570 | ' | ' | -45 | -48 | -217 | -4,174 | -44 | -56 |
Foreign currency translation | ' | ' | 97 | 2 | ' | ' | -78 | 67 | -19 | -69 | ' | ' |
Ending balance, accumulated other comprehensive income (loss) | $9,519 | $14,856 | $13,178 | $16,083 | ($3,339) | ($2,565) | $1,290 | $1,413 | ($1,921) | ($570) | $311 | $495 |
Accumulated_Other_Comprehensiv3
Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Pre-tax amount | $215,001 | $183,628 | $628,848 | $536,758 |
Pre-tax amount | 322,143 | 280,526 | 928,122 | 823,426 |
Pre-tax amount | 73,987 | 75,747 | 222,967 | 217,653 |
Tax (provision) benefit | -4,575 | 309 | -7,087 | -3,569 |
Net income | 14,146 | 8,142 | 26,260 | 15,133 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Net income | -515 | ' | 306 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Actuarial Gain (Loss) Related to Pension Liability [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Pre-tax amount | 16 | ' | 45 | ' |
Tax (provision) benefit | ' | ' | ' | ' |
Net income | 16 | ' | 45 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gain (Loss) on Cash Flow Hedging Instruments [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Pre-tax amount | -670 | ' | 104 | ' |
Tax (provision) benefit | 125 | ' | 113 | ' |
Net income | -545 | ' | 217 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Unrealized Gain (Loss) on Post Retirement Obligation [Member] | ' | ' | ' | ' |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ' | ' | ' | ' |
Pre-tax amount | 14 | ' | 44 | ' |
Tax (provision) benefit | ' | ' | ' | ' |
Net income | $14 | ' | $44 | ' |
Income_Taxes_Additional_Inform
Income Taxes - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Jul. 31, 2013 |
Canada [Member] | Canada [Member] | ||||||
Income Taxes [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Effective rate of tax | 24.40% | -3.90% | 21.30% | 11.80% | ' | ' | ' |
Statutory federal income tax rate | 35.00% | ' | 35.00% | ' | ' | ' | ' |
Unrecognized tax benefits | $15.60 | ' | $15.60 | ' | $16.90 | ' | ' |
Decrease in unrecognized tax benefits | ' | ' | 1.3 | ' | ' | ' | ' |
Withholding taxes related to offshore cash movements | ' | ' | 2.6 | ' | ' | ' | ' |
Amount of mandatory security deposit paid | ' | ' | ' | ' | ' | ' | 0.4 |
Total amount of security deposits paid | ' | ' | ' | ' | ' | $15.10 | ' |
Income_Taxes_Summary_of_Signif
Income Taxes - Summary of Significant Tax Jurisdictions Currently under Audit (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Canada [Member] | ' |
Income Tax Examination [Line Items] | ' |
Significant tax jurisdictions currently under audit | '2003 to 2009 |
The Philippines [Member] | ' |
Income Tax Examination [Line Items] | ' |
Significant tax jurisdictions currently under audit | '2007 and 2009 |
United States [Member] | ' |
Income Tax Examination [Line Items] | ' |
Significant tax jurisdictions currently under audit | '2010 to 2012 |
Earnings_Per_Share_Numbers_of_
Earnings Per Share - Numbers of Shares Used in Earnings Per Share Computation (Detail) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Basic: | ' | ' | ' | ' |
Weighted average common shares outstanding | 42,785 | 43,014 | 42,918 | 43,130 |
Diluted: | ' | ' | ' | ' |
Dilutive effect of stock options, stock appreciation rights, restricted stock, restricted stock units and shares held in a rabbi trust | 51 | 17 | 30 | 49 |
Total weighted average diluted shares outstanding | 42,836 | 43,031 | 42,948 | 43,179 |
Anti-dilutive shares excluded from the diluted earnings per share calculation | 56 | ' | 18 | ' |
Earnings_Per_Share_Additional_
Earnings Per Share - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 18, 2011 | Aug. 05, 2002 | |
2011 Share Repurchase Program [Member] | 2011 Share Repurchase Program [Member] | 2002 Share Repurchase Program [Member] | |||||
Equity, Class of Treasury Stock [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Maximum amount of shares authorized for repurchase | ' | ' | ' | ' | ' | 5,000,000 | 3,000,000 |
Total number of Shares Repurchased | 69,000 | 29,000 | 341,000 | 537,000 | 3,400,000 | ' | ' |
Earnings_Per_Share_Shares_Repu
Earnings Per Share - Shares Repurchased (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Schedule Of Shares Repurchased [Line Items] | ' | ' | ' | ' |
Total number of Shares Repurchased | 69 | 29 | 341 | 537 |
Total Cost of Shares Repurchased | $1,185 | $447 | $5,479 | $7,908 |
Minimum [Member] | ' | ' | ' | ' |
Schedule Of Shares Repurchased [Line Items] | ' | ' | ' | ' |
Prices paid per share, Range | $16.91 | $14.98 | $15.61 | $13.85 |
Maximum [Member] | ' | ' | ' | ' |
Schedule Of Shares Repurchased [Line Items] | ' | ' | ' | ' |
Prices paid per share, Range | $16.99 | $14.98 | $16.99 | $15 |
Commitments_and_Loss_Contingen2
Commitments and Loss Contingency - Schedule of Future Minimum Rental Payments under Operating Leases (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Operating Leases Future Minimum Payments Due [Abstract] | ' |
2013 (remaining three months) | $1,232 |
2014 | 5,456 |
2015 | 4,899 |
2016 | 2,971 |
2017 | 2,706 |
2018 | 2,339 |
2019 and thereafter | 1,717 |
Total minimum payments required | $21,320 |
Commitments_and_Loss_Contingen3
Commitments and Loss Contingency - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Minimum [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Term of agreements with third party vendors | 'One year |
Maximum [Member] | ' |
Long-term Purchase Commitment [Line Items] | ' |
Term of agreements with third party vendors | 'Five year |
Commitments_and_Loss_Contingen4
Commitments and Loss Contingency - Schedule of Future Minimum Purchases Remaining under Agreements (Detail) (USD $) | Sep. 30, 2013 |
In Thousands, unless otherwise specified | |
Unrecorded Unconditional Purchase Obligation [Abstract] | ' |
2013 (remaining three months) | $101 |
2014 | 2,347 |
2015 | 1,839 |
2016 | 544 |
2017 | ' |
2018 | ' |
2019 and thereafter | ' |
Total minimum payments required | $4,831 |
Defined_Benefit_Pension_Plan_a2
Defined Benefit Pension Plan and Postretirement Benefits - Net Periodic Benefit Cost for Pension Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Defined Benefit Plan Accumulated Other Comprehensive Income Before Tax [Abstract] | ' | ' | ' | ' |
Service cost | $85 | $94 | $252 | $280 |
Interest cost | 28 | 30 | 84 | 90 |
Recognized actuarial (gains) | -15 | -11 | -45 | -35 |
Net periodic benefit cost | $98 | $113 | $291 | $335 |
Defined_Benefit_Pension_Plan_a3
Defined Benefit Pension Plan and Postretirement Benefits - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Defined Contribution Plan [Line Items] | ' |
Percentage of employer's contribution based on participants contribution | 50.00% |
Alpine Access, Inc [Member] | ' |
Defined Contribution Plan [Line Items] | ' |
Percentage of employer's contribution based on participants contribution | 100.00% |
Employees are vested in contributions | 100.00% |
Alpine Access, Inc [Member] | Additional Plan Contribution [Member] | ' |
Defined Contribution Plan [Line Items] | ' |
Percentage of employer's contribution based on participants contribution | 50.00% |
Maximum [Member] | ' |
Defined Contribution Plan [Line Items] | ' |
Percentage of employer's contribution based on participants compensation | 2.00% |
Maximum [Member] | Alpine Access, Inc [Member] | ' |
Defined Contribution Plan [Line Items] | ' |
Percentage of employer's contribution based on participants compensation | 3.00% |
Maximum [Member] | Alpine Access, Inc [Member] | Additional Plan Contribution [Member] | ' |
Defined Contribution Plan [Line Items] | ' |
Percentage of employer's contribution based on participants compensation | 2.00% |
Defined_Benefit_Pension_Plan_a4
Defined Benefit Pension Plan and Postretirement Benefits - Company's Contributions to Employee Retirement Savings Plans (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Compensation And Retirement Disclosure [Abstract] | ' | ' | ' | ' |
401(k) plan contributions | $201 | $245 | $679 | $977 |
Defined_Benefit_Pension_Plan_a5
Defined Benefit Pension Plan and Postretirement Benefits - Post-Retirement Benefit Obligation and Unrealized Gain (Losses) (Detail) (Split-Dollar Life Insurance Arrangement [Member], USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Split-Dollar Life Insurance Arrangement [Member] | ' | ' |
Defined Benefit Plan Disclosure [Line Items] | ' | ' |
Postretirement benefit obligation | $89 | $72 |
Unrealized gains (losses) in AOCI | $311 | $495 |
StockBased_Compensation_StockB
Stock-Based Compensation - Stock-Based Compensation Expense, Income Tax Benefits Related to Stock-Based Compensation and Excess Tax Benefits (Provision) Recorded by Company (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
General and Administrative [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Stock-based compensation (expense) | ($1,391) | ($1,250) | ($3,581) | ($3,111) |
Income Taxes [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Income tax benefit | 486 | 438 | 1,253 | 1,089 |
Additional Paid-in Capital [Member] | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' |
Excess tax benefit (deficiency) from stock-based compensation | ' | ' | ($34) | ($278) |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | 20-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
Share data in Millions, unless otherwise specified | Deferred Compensation Plan [Member] | 2011 Equity Incentive Plan [Member] | 2001 Equity Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | Restricted Shares [Member] | Restricted Shares [Member] | Restricted Shares [Member] | Nonvested Common Stock Share Awards under 2004 Non-Employee Director Fee Plan [Member] | Nonvested Common Stock Share Awards under 2004 Non-Employee Director Fee Plan [Member] | Deferred Compensation Plan [Member] | Deferred Compensation Plan [Member] | Deferred Compensation Plan [Member] | Deferred Compensation Plan [Member] | May 17, 2012 Nonvested Common Stock Share Awards under 2004 Non-Employee Director Fee Plan [Member] | May 20, 2011 Nonvested Common Stock Share Awards under 2004 Non-Employee Director Fee Plan [Member] | Nonvested Common Stock Share Awards [Member] | ||
Restricted Stock Units [Member] | Restricted Stock Units [Member] | Restricted Stock Units [Member] | President, Executive Vice Presidents and Senior Vice Presidents [Member] | Vice President [Member] | ||||||||||||||
Minimum [Member] | Maximum [Member] | |||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Capitalized stock-based compensation costs | $0 | $0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of shares of common stock available under the 2011 plan | ' | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
2001 Equity Incentive Plan | ' | ' | ' | ' | 14-Mar-11 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation plan expiration | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based compensation vesting period | ' | ' | ' | ' | ' | 'One-third on each of the first three anniversaries of the date of grant | 'One-third on each of the first three anniversaries of the date of grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average period | ' | ' | '2 years 9 months 18 days | ' | ' | '1 year 4 months 24 days | '1 year 7 months 6 days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 months 18 days |
Total unrecognized compensation cost | ' | ' | 100,000 | ' | ' | 2,500,000 | 19,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 200,000 |
Range of vesting possibilities | ' | ' | ' | ' | ' | ' | ' | 0.00% | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Value of initial granted shares of common stock to new non employee director | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of initial granted shares of common stock to new non employee director | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Twelve equal quarterly installments, one-twelfth on the date of grant and an additional one-twelfth on each successive third monthly anniversary of the date of grant | ' | ' | ' | ' | ' | ' | ' | ' |
Value of Annual Retainer to New Non-Employee Director | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 125,000 | 95,000 | ' |
Annual Retainer payable in cash to New Non Employee Director | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50,000 | 50,000 | ' |
Amended vesting period of cash Annual retainer to non-employee chairman and committee members | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Vests in four equal quarterly installments, one-fourth on the day following the annual meeting of shareholders, and an additional one-fourth on each successive third monthly anniversary of the date of grant | ' | ' | ' | ' | ' | ' | ' | ' |
Vesting period of annual granted shares of common stock to non-employee director | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Vests in eight equal quarterly installments, one-eighth on the day following the annual meeting of shareholders, and an additional one-eighth on each successive third monthly anniversary of the date of grant | ' | ' | ' | ' | ' | ' | ' | ' |
Increased stock component of annual retainer | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,000 | ' | ' |
Vesting period for the annual equity award | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '1 year | '2 years | ' |
Amended vesting period of annual granted shares of common stock to non-employee director | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Four equal quarterly installments, one-fourth on the date of grant and an additional one-fourth on each successive third monthly anniversary of the date of grant | ' | ' | ' | ' | ' | ' | ' | ' |
Value Payable in Stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000 | 45,000 | ' |
Additional annual cash award to be given to any non employee chairman of board | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' | ' | ' | ' | ' | ' |
Additional annual cash award to be given to Chairperson of the audit committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20,000 | ' | ' | ' | ' | ' | ' | ' |
Additional annual cash award to be given to audit committee members | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,000 | ' | ' | ' | ' | ' | ' | ' |
Annual cash awards for Human Resource Development Committee, finance committee and nominating and corporate governance committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,500 | ' | ' | ' | ' | ' | ' | ' |
Annual cash awards to such committee members | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500 | ' | ' | ' | ' | ' | ' | ' |
Increased additional annual cash award to Chairperson of Compensation and Human Resource Development Committee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' |
Percentage of contribution in respect of amounts deferred by certain senior management participants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | ' | ' | ' | ' | ' | ' |
Amounts deferred by certain senior management personnel | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000 | 7,500 | ' | ' | ' |
Vesting period of matching contributions and associated earnings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Over a seven year service period | ' | ' | ' | ' | ' | ' |
Accrued employee compensation and benefits | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,800,000 | 5,300,000 | ' | ' | ' | ' | ' |
Common stock match associated with the deferred compensation plan carrying value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,600,000 | $1,400,000 | ' | ' | ' | ' | ' |
StockBased_Compensation_Summar
Stock-Based Compensation - Summary of Assumptions Used to Estimate Fair Value (Detail) (Stock Appreciation Rights (SARs) [Member]) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | 45.20% | 47.10% |
Weighted-average volatility | 45.20% | 47.10% |
Expected dividend rate | 0.00% | 0.00% |
Expected term (in years) | '5 years | '4 years 8 months 12 days |
Risk-free rate | 0.80% | 0.80% |
StockBased_Compensation_Summar1
Stock-Based Compensation - Summary of Stock Appreciation Rights Activity (Detail) (Stock Appreciation Rights (SARs) [Member], USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Nonvested Shares, beginning balance | 865 | ' |
Granted, Shares | 318 | 259 |
Exercised, Shares | ' | ' |
Forfeited or expired, Shares | ' | ' |
Nonvested Shares, ending balance | 1,183 | ' |
Vested or expected to vest, Shares | 1,183 | ' |
Exercisable, Shares | 648 | ' |
Nonvested, Weighted Average Exercise Price, beginning balance | ' | ' |
Granted, Weighted Average Exercise Price | ' | ' |
Exercised, Weighted Average Exercise Price | ' | ' |
Forfeited or expired, Weighted Average Exercised Price | ' | ' |
Nonvested, Weighted Average Exercise price, ending balance | ' | ' |
Vested or expected to vest, Weighted Average Exercise Price | ' | ' |
Exercisable, Weighted Average Exercise Price | ' | ' |
Nonvested, Weighted Average Remaining Contractual Term | '7 years 3 months 18 days | ' |
Vested or expected to vest, Weighted Average Remaining Contractual Term | '7 years 3 months 18 days | ' |
Exercisable, Weighted Average Remaining Contractual Term | '5 years 10 months 24 days | ' |
Outstanding, Aggregate Intrinsic Value | $1,558 | ' |
Vested or expected to vest, Aggregate Intrinsic Value | 1,558 | ' |
Exercisable, Aggregate Intrinsic Value | $307 | ' |
StockBased_Compensation_Weight
Stock-Based Compensation - Weighted Average Grant Date of SARs Granted and Total Intrinsic Value of SARs Exercised (Detail) (Stock Appreciation Rights (SARs) [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Stock Appreciation Rights (SARs) [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Shares | 318 | 259 |
Weighted average grant-date fair value per SAR | $6.08 | $5.97 |
Intrinsic value of SARs exercised | ' | ' |
Fair value of vested | $1,298 | $1,388 |
StockBased_Compensation_Summar2
Stock-Based Compensation - Summary of Nonvested Stock Appreciation Rights (Detail) (Nonvested Stock Appreciation Rights (SARs) [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Nonvested Stock Appreciation Rights (SARs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested Shares, beginning balance | 395 |
Granted, Shares | 318 |
Vested, Shares | -178 |
Forfeited or expired, Shares | ' |
Nonvested Shares, ending balance | 535 |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $6.74 |
Granted, Weighted Average Grant-Date Fair Value | $6.08 |
Vested, Weighted Average Grant-Date Fair Value | $7.28 |
Forfeited or expired, Weighted Average Grant-Date Fair Value | ' |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $6.17 |
StockBased_Compensation_Summar3
Stock-Based Compensation - Summary of Nonvested Restricted Shares and Restricted Stock Units (Detail) (Restricted Shares [Member], Restricted Stock Units [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Restricted Shares [Member] | Restricted Stock Units [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Nonvested Shares, beginning balance | 872 | ' |
Granted, Shares | 706 | 420 |
Vested, Shares | -20 | ' |
Forfeited or expired, Shares | -191 | ' |
Nonvested Shares, ending balance | 1,367 | ' |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $18.25 | ' |
Granted, Weighted Average Grant-Date Fair Value | $15.25 | $15.21 |
Vested, Weighted Average Grant-Date Fair Value | $18.11 | ' |
Forfeited or expired, Weighted Average Grant-Date Fair Value | $23.55 | ' |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $15.96 | ' |
StockBased_Compensation_Summar4
Stock-Based Compensation - Summary of Weighted Average Grant-Date Fair Value Granted and Total Fair Value of Restricted Shares and Restricted Stock Units Vested (Detail) (Restricted Shares [Member], Restricted Stock Units [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Restricted Shares [Member] | Restricted Stock Units [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Shares | 706 | 420 |
Weighted average grant-date fair value | $15.25 | $15.21 |
Fair value of vested | $366 | $3,845 |
Stock_Based_Compensation_Summa
Stock Based Compensation - Summary of Nonvested Common Stock Units and Share Awards (Detail) (Nonvested Common Stock Share Awards [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Nonvested Common Stock Share Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Nonvested Shares, beginning balance | 13 | ' |
Granted, Shares | 37 | 42 |
Vested, Shares | -31 | ' |
Forfeited or expired, Shares | ' | ' |
Nonvested Shares, ending balance | 19 | ' |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $17.18 | ' |
Granted, Weighted Average Grant-Date Fair Value | $16.01 | $16.15 |
Vested, Weighted Average Grant-Date Fair Value | $16.48 | ' |
Forfeited or expired, Weighted Average Grant-Date Fair Value | ' | ' |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $16.01 | ' |
Stock_Based_Compensation_Summa1
Stock Based Compensation - Summary of Weighted Average Grant-Date Fair Value of Common Stock Units and Share Awards Granted and Total Fair Value of Common Stock Units and Share Awards Vested (Detail) (Nonvested Common Stock Share Awards [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Nonvested Common Stock Share Awards [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Shares | 37 | 42 |
Weighted average grant-date fair value | $16.01 | $16.15 |
Fair value of vested | $519 | $551 |
Stock_Based_Compensation_Summa2
Stock Based Compensation - Summary of Nonvested Common Stock (Detail) (Common Stock [Member], USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Common Stock [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Nonvested Shares, beginning balance | 8 |
Granted, Shares | 12 |
Vested, Shares | -14 |
Forfeited or expired, Shares | ' |
Nonvested Shares, ending balance | 6 |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $16.98 |
Granted, Weighted Average Grant-Date Fair Value | $16.30 |
Vested, Weighted Average Grant-Date Fair Value | $16.56 |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $16.56 |
Stock_Based_Compensation_Summa3
Stock Based Compensation - Summary of Weighted Average Grant-Date Fair Value of Common Stock Awarded and Cash Used to Settle Company's Obligation under Deferred Compensation (Detail) (Common Stock [Member], USD $) | 9 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Common Stock [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Granted, Shares | 12 | 13 |
Weighted average grant-date fair value | $16.30 | $15.28 |
Fair value of vested | $241 | $178 |
Cash used to settle the obligation | $1,014 | $263 |
Segments_and_Geographic_Inform2
Segments and Geographic Information - Additional Information (Detail) | 9 Months Ended |
Sep. 30, 2013 | |
Segment | |
Region | |
Segment Reporting [Abstract] | ' |
Number of operating regions | 2 |
Number of reportable segments | 2 |
Segments_and_Geographic_Inform3
Segments and Geographic Information - Company's Reportable Segments (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | $322,143 | $280,526 | $928,122 | $823,426 | ' |
Percentage of revenues | 100.00% | 100.00% | 100.00% | 100.00% | ' |
Depreciation, net | 10,677 | 9,583 | 30,863 | 30,033 | ' |
Amortization of intangibles | 3,699 | 2,774 | 11,171 | 6,644 | ' |
Income (loss) from continuing operations | 18,779 | 8,672 | 34,273 | 32,067 | ' |
Other (expense), net | -58 | -839 | -926 | -1,838 | ' |
Income taxes | -4,575 | 309 | -7,087 | -3,569 | ' |
Income from continuing operations, net of taxes | 14,146 | 8,142 | 26,260 | 26,660 | ' |
(Loss) from discontinued operations, net of taxes | ' | ' | ' | -11,527 | ' |
Net income | 14,146 | 8,142 | 26,260 | 15,133 | ' |
Total assets | 949,891 | 904,615 | 949,891 | 904,615 | 908,689 |
Operating Segments [Member] | Americas [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 265,878 | 237,541 | 776,255 | 688,841 | ' |
Percentage of revenues | 82.50% | 84.70% | 83.60% | 83.70% | ' |
Depreciation, net | 9,532 | 8,579 | 27,789 | 27,043 | ' |
Amortization of intangibles | 3,699 | 2,774 | 11,171 | 6,644 | ' |
Income (loss) from continuing operations | 26,987 | 21,654 | 65,730 | 69,388 | ' |
(Loss) from discontinued operations, net of taxes | ' | ' | ' | -6,302 | ' |
Total assets | 1,119,017 | 1,265,146 | 1,119,017 | 1,265,146 | ' |
Operating Segments [Member] | EMEA [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 56,265 | 42,985 | 151,867 | 134,585 | ' |
Percentage of revenues | 17.50% | 15.30% | 16.40% | 16.30% | ' |
Depreciation, net | 1,145 | 1,004 | 3,074 | 2,990 | ' |
Income (loss) from continuing operations | 3,423 | 2,359 | 3,354 | 1,861 | ' |
(Loss) from discontinued operations, net of taxes | ' | ' | ' | -5,225 | ' |
Total assets | 1,377,992 | 1,073,201 | 1,377,992 | 1,073,201 | ' |
Other [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Income (loss) from continuing operations | -11,631 | -15,341 | -34,811 | -39,182 | ' |
Other (expense), net | -58 | -839 | -926 | -1,838 | ' |
Income taxes | -4,575 | 309 | -7,087 | -3,569 | ' |
(Loss) from discontinued operations, net of taxes | ' | ' | ' | ' | ' |
Total assets | ($1,547,118) | ($1,433,732) | ($1,547,118) | ($1,433,732) | ' |
Other_Income_Expense_Schedule_
Other Income (Expense) - Schedule of Other Income (Expense) (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Other Nonoperating Income Expense [Abstract] | ' | ' | ' | ' |
Foreign currency transaction gains (losses) | ($470) | ($193) | ($3,204) | ($1,771) |
Gains (losses) on foreign currency derivative instruments not designated as hedges | 546 | -849 | 2,776 | -1,046 |
Other miscellaneous income (expense) | 280 | 327 | 570 | 1,013 |
Other income (expense) | $356 | ($715) | $142 | ($1,804) |
Related_Party_Transactions_Add
Related Party Transactions - Additional Information (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Jan. 31, 2008 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Related Party Transactions [Abstract] | ' | ' | ' | ' | ' |
Duration of lease payment | '20 years | ' | ' | ' | ' |
Payment to landlord under the lease terms | ' | $0.10 | $0.10 | $0.30 | $0.30 |