Document and Entity Information
Document and Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | Apr. 20, 2017 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Trading Symbol | SYKE | |
Entity Registrant Name | SYKES ENTERPRISES INC | |
Entity Central Index Key | 1,010,612 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Common Stock, Shares Outstanding | 42,524,205 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash and cash equivalents | $ 286,830 | $ 266,675 |
Receivables, net | 321,871 | 318,558 |
Prepaid expenses | 37,073 | 21,973 |
Other current assets | 15,492 | 16,030 |
Total current assets | 661,266 | 623,236 |
Property and equipment, net | 154,267 | 156,214 |
Goodwill, net | 265,871 | 265,404 |
Intangibles, net | 147,948 | 153,055 |
Deferred charges and other assets | 25,684 | 38,494 |
Total assets | 1,255,036 | 1,236,403 |
Current liabilities: | ||
Accounts payable | 24,409 | 29,163 |
Accrued employee compensation and benefits | 89,940 | 92,552 |
Income taxes payable | 24,403 | 4,487 |
Deferred revenue | 38,840 | 38,736 |
Other accrued expenses and current liabilities | 36,159 | 37,919 |
Total current liabilities | 213,751 | 202,857 |
Deferred grants | 3,641 | 3,761 |
Long-term debt | 267,000 | 267,000 |
Long-term income tax liabilities | 3,348 | 19,326 |
Other long-term liabilities | 20,772 | 18,937 |
Total liabilities | 508,512 | 511,881 |
Commitments and loss contingency (Note 14) | ||
Shareholders' equity: | ||
Preferred stock, $0.01 par value per share, 10,000 shares authorized; no shares issued and outstanding | ||
Common stock, $0.01 par value per share, 200,000 shares authorized; 42,524 and 42,895 shares issued, respectively | 425 | 429 |
Additional paid-in capital | 277,784 | 281,357 |
Retained earnings | 533,339 | 518,611 |
Accumulated other comprehensive income (loss) | (63,001) | (67,027) |
Treasury stock at cost: 119 and 362 shares, respectively | (2,023) | (8,848) |
Total shareholders' equity | 746,524 | 724,522 |
Total liabilities and shareholders' equity | $ 1,255,036 | $ 1,236,403 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 42,524,000 | 42,895,000 |
Treasury stock, shares | 119,000 | 362,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Income Statement [Abstract] | ||
Revenues | $ 384,014 | $ 320,746 |
Operating expenses: | ||
Direct salaries and related costs | 247,165 | 205,555 |
General and administrative | 92,256 | 80,510 |
Depreciation, net | 13,348 | 10,784 |
Amortization of intangibles | 5,231 | 3,627 |
Total operating expenses | 358,000 | 300,476 |
Income from operations | 26,014 | 20,270 |
Other income (expense): | ||
Interest income | 155 | 153 |
Interest (expense) | (1,699) | (808) |
Other income (expense), net | 852 | 553 |
Total other income (expense), net | (692) | (102) |
Income before income taxes | 25,322 | 20,168 |
Income taxes | 6,610 | 6,214 |
Net income | $ 18,712 | $ 13,954 |
Net income per common share: | ||
Basic | $ 0.45 | $ 0.33 |
Diluted | $ 0.45 | $ 0.33 |
Weighted average common shares outstanding: | ||
Basic | 41,654 | 41,704 |
Diluted | 41,905 | 42,023 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Statement of Comprehensive Income [Abstract] | ||
Net income | $ 18,712 | $ 13,954 |
Other comprehensive income (loss), net of taxes: | ||
Foreign currency translation gain (loss), net of taxes | 3,898 | 13,899 |
Unrealized gain (loss) on net investment hedges, net of taxes | (368) | (1,930) |
Unrealized actuarial gain (loss) related to pension liability, net of taxes | (23) | 9 |
Unrealized gain (loss) on cash flow hedging instruments, net of taxes | 532 | 2,430 |
Unrealized gain (loss) on postretirement obligation, net of taxes | (13) | (13) |
Other comprehensive income (loss), net of taxes | 4,026 | 14,395 |
Comprehensive income (loss) | $ 22,738 | $ 28,349 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Changes in Shareholders' Equity - 3 months ended Mar. 31, 2017 - USD ($) shares in Thousands, $ in Thousands | Total | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Treasury Stock [Member] |
Beginning Balance at Dec. 31, 2016 | $ 724,522 | $ 429 | $ 281,357 | $ 518,611 | $ (67,027) | $ (8,848) |
Beginning Balance, shares at Dec. 31, 2016 | 42,895 | |||||
Stock-based compensation expense | 2,471 | 2,471 | ||||
Issuance of common stock under equity award plans, net of shares withheld for employee taxes | (3,286) | $ (1) | (3,082) | (203) | ||
Issuance of common stock under equity award plans, net of shares withheld for employee taxes, shares | (121) | |||||
Retirement of treasury stock | $ (3) | (3,194) | (3,831) | 7,028 | ||
Retirement of treasury stock, shares | (250) | |||||
Comprehensive income (loss) | 22,738 | 18,712 | 4,026 | |||
Ending Balance at Mar. 31, 2017 | 746,524 | $ 425 | 277,784 | 533,339 | $ (63,001) | $ (2,023) |
Ending Balance, shares at Mar. 31, 2017 | 42,524 | |||||
Cumulative effect of accounting change | Accounting Standards Update 2016-09 [Member] | $ 79 | $ 232 | $ (153) |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Cash flows from operating activities: | ||
Net income | $ 18,712 | $ 13,954 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 13,476 | 10,954 |
Amortization of intangibles | 5,231 | 3,627 |
Amortization of deferred grants | (166) | (226) |
Impairment losses | 202 | |
Unrealized foreign currency transaction (gains) losses, net | (1,405) | (947) |
Stock-based compensation expense | 2,471 | 2,182 |
Deferred income tax provision (benefit) | 429 | (1,562) |
Unrealized (gains) losses on financial instruments, net | 620 | 349 |
Amortization of deferred loan fees | 67 | 67 |
Imputed interest expense and fair value adjustments to contingent consideration | (399) | 213 |
Other | 99 | (245) |
Changes in assets and liabilities: | ||
Receivables | (506) | (7,458) |
Prepaid expenses | (1,026) | (3,601) |
Other current assets | 107 | 339 |
Deferred charges and other assets | (839) | (980) |
Accounts payable | 679 | (2,844) |
Income taxes receivable / payable | 3,094 | 2,592 |
Accrued employee compensation and benefits | (2,962) | 1,509 |
Other accrued expenses and current liabilities | (1,698) | 5,206 |
Deferred revenue | (66) | 949 |
Other long-term liabilities | 1,105 | 3,350 |
Net cash provided by operating activities | 37,225 | 27,428 |
Cash flows from investing activities: | ||
Capital expenditures | (17,040) | (16,205) |
Proceeds from sale of property and equipment | 10 | 26 |
Investment in restricted cash | (16) | (225) |
Release of restricted cash | 6 | 8 |
Net investment hedge settlement | 10,339 | |
Net cash (used for) investing activities | (17,040) | (6,057) |
Cash flows from financing activities: | ||
Proceeds from grants | 55 | 22 |
Shares repurchased for tax withholding on equity awards | (3,286) | (4,379) |
Payments of contingent consideration related to acquisitions | (126) | |
Net cash (used for) financing activities | (3,357) | (4,357) |
Effects of exchange rates on cash and cash equivalents | 3,327 | 7,513 |
Net increase (decrease) in cash and cash equivalents | 20,155 | 24,527 |
Cash and cash equivalents - beginning | 266,675 | 235,358 |
Cash and cash equivalents - ending | 286,830 | 259,885 |
Supplemental disclosures of cash flow information: | ||
Cash paid during period for interest | 1,464 | 406 |
Cash paid during period for income taxes | 2,923 | 3,781 |
Non-cash transactions: | ||
Property and equipment additions in accounts payable | 4,835 | 4,831 |
Unrealized gain (loss) on postretirement obligation in accumulated other comprehensive income (loss) | (13) | (13) |
Shares repurchased for tax withholding on equity awards included in current liabilities | $ 352 | $ 487 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Overview and Basis of Presentation | Note 1. Overview and Basis of Presentation Business — e-mail, Acquisition On April 1, 2016, the Company completed the acquisition of Clear Link Holdings, LLC (“Clearlink”), pursuant to a definitive Agreement and Plan of Merger (the “Merger Agreement”), dated March 6, 2016. The Company has reflected Clearlink’s results in the consolidated financial statements since April 1, 2016. See Note 2, Acquisition, for additional information on the acquisition. Basis of Presentation — 10-Q S-X. 10-K Principles of Consolidation — Use of Estimates — Subsequent Events — Customer-Acquisition Advertising Costs Reclassifications New Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”). 2014-09 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date 2015-14”). 2015-14 2014-09 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (Reporting Revenue Gross versus Net) 2016-10, Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing 2016-11, Revenue Recognition and Derivatives and Hedging: Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 2014-16 3, 2016 Emerging Issues Task Force Meeting (“EITF”) 2016-12, Revenue from Contracts with Customers (Topic 606) – Narrow-Scope Improvements and Practical Expedients The Company is evaluating the impact of ASU 2014-09 In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) 2016-01”). Fair Value Measurements 2016-01 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) 2016-02”). Leases 2016-02 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments 2016-13”). In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments 2016-15”). 2016-15 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) – Intra-Entity Transfers of Assets Other than Inventory 2016-16”). 2016-16 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash (A Consensus of the FASB Emerging Issues Task Force 2016-18”). 2016-18 In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business 2017-01”). 2017-01 In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment 2017-04”). 2017-04 In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost 2017-07”). 2017-07 New Accounting Standards Recently Adopted In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) – Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships 2016-05”). 2016-05 In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) – Improvements to Employee Share-Based Payment Accounting 2016-09”). 2016-09 As a result of the adoption of ASU 2016-09, paid-in |
Acquisition
Acquisition | 3 Months Ended |
Mar. 31, 2017 | |
Business Combinations [Abstract] | |
Acquisition | Note 2. Acquisition Clearlink On April 1, 2016, the Company acquired 100% of the outstanding membership units of Clearlink through a merger of Clearlink with and into a subsidiary of the Company (the “Merger”). Clearlink, with its operations located in the United States, is an inbound demand generation and sales conversion platform serving numerous Fortune 500 business-to-consumer business-to-business 15-year The Clearlink purchase price totaled $207.9 million, consisting of the following (in thousands): Total Cash (1) $ 209,186 Working capital adjustment (1,278) $ 207,908 (1) Approximately $2.6 million of the purchase price was placed in an escrow account as security for the indemnification obligations of Clearlink’s members under the merger agreement. The escrow was released pursuant to the terms of the escrow agreement, but the Company has asserted a claim of approximately $0.4 million against the Clearlink members, which claim remains under negotiation between the parties. 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 $ 2,584 Receivables (1) 16,801 Prepaid expenses 1,553 Total current assets 20,938 Property and equipment 12,869 Goodwill 70,563 Intangibles 121,400 Deferred charges and other assets 229 Accounts payable (3,564) Accrued employee compensation and benefits (1,610) Income taxes payable (340) Deferred revenue (4,620) Other accrued expenses and current liabilities (6,324) Total current liabilities (16,458) Other long-term liabilities (1,633) $ 207,908 (1) The Company accounted for the Clearlink acquisition in accordance with ASC 805, Business Combinations 2015-16, Business Combinations (Topic 805) Simplifying the Accounting for Measurement-Period Adjustments 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 intangibles assets as of April 1, 2016, the Clearlink acquisition date (in thousands): Amount Assigned Weighted Customer relationships $ 63,800 13 Trade name 2,400 7 Non-compete 1,800 3 Proprietary software 700 5 Indefinite-lived domain names 52,700 N/A $ 121,400 7 The following table presents the unaudited pro forma combined revenues and net earnings as if Clearlink had been included in the consolidated results of the Company for the entire three month period ended March 31, 2016. 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, 2016 (in thousands): Three Months Ended March 31, 2016 Revenues $ 354,574 Net income $ 14,920 Net income per common share: Basic $ 0.36 Diluted $ 0.36 These amounts have been calculated to reflect the additional depreciation, amortization, interest expense and rent expense that would have been incurred assuming the fair value adjustments and borrowings occurred on January 1, 2016, 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 advisory and legal costs, net of the tax effects. Merger and integration costs associated with Clearlink included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations in the Other segment were as follows (none in 2017) (in thousands): Three Months Ended Total transaction and integration costs $ 1,442 |
Costs Associated with Exit or D
Costs Associated with Exit or Disposal Activities | 3 Months Ended |
Mar. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Costs Associated with Exit or Disposal Activities | Note 3. Costs Associated with Exit or Disposal Activities During 2011 and 2010, the Company announced several initiatives to streamline excess capacity through targeted seat reductions (the “Exit Plans”) in an on-going The Company paid $16.2 million in cash through December 31, 2016 under these Exit Plans for lease obligations and facility exit costs, severance and related costs and legal-related costs. As of December 31, 2016, there were no remaining outstanding liabilities related to the Exit Plans. The following table summarizes the accrued liability associated with the Exit Plans’ exit or disposal activities and related charges for the three months ended March 31, 2016 (none in 2017) (in thousands): Three Months Ended Beginning accrual $ 733 Cash payments (1) (206) Ending accrual $ 527 (1) |
Fair Value
Fair Value | 3 Months Ended |
Mar. 31, 2017 | |
Fair Value Disclosures [Abstract] | |
Fair Value | Note 4. Fair Value ASC 820, Fair Value Measurements and Disclosures • Level 1 — • Level 2 — • Level 3 — . Fair Value of Financial Instruments — • Cash, short-term and other investments, investments held in rabbi trust and accounts payable — • Foreign currency forward contracts and options — • Embedded derivatives — • Long-term debt — re-prices • Contingent consideration — Fair Value Measurements — 820-10-20 ASC 825, Financial Instruments Determination of Fair Value — 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. Foreign Currency Forward Contracts and Options — Embedded Derivatives — Investments Held in Rabbi Trust — Contingent Consideration — In connection with the addendum to the Qelp purchase agreement with the sellers dated September 26, 2016, the Company agreed to settle the outstanding contingent consideration for EUR 4.0 million ($4.3 million as of March 31, 2017) to be paid by June 30, 2017. 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 as of March 31, 2017 (in thousands): Fair Value Measurements at March 31, 2017 Using: Balance at Quoted Prices Significant Other Significant March 31, 2017 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 2,789 $ - $ 2,789 $ - Embedded derivatives (1) 25 - - 25 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,319 8,319 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 2,126 2,126 - - $ 13,259 $ 10,445 $ 2,789 $ 25 Liabilities: Long-term debt (3) $ 267,000 $ - $ 267,000 $ - Foreign currency forward and option contracts (1) 1,956 - 1,956 - Embedded derivatives (1) 400 - - 400 Contingent consideration (4) 5,633 - - 5,633 $ 274,989 $ - $ 268,956 $ 6,033 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 as of December 31, 2016 (in thousands): Fair Value Measurements at December 31, 2016 Using: Balance at Quoted Prices in Active Markets For Significant Other Significant December 31, 2016 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 3,921 $ - $ 3,921 $ - Embedded derivatives (1) 12 - - 12 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 7,470 7,470 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 1,944 1,944 - - $ 13,347 $ 9,414 $ 3,921 $ 12 Liabilities: Long-term debt (3) $ 267,000 $ - $ 267,000 $ - Foreign currency forward and option contracts (1) 1,912 - 1,912 - Embedded derivatives (1) 567 - - 567 Contingent consideration (4) 6,100 - - 6,100 $ 275,579 $ - $ 268,912 $ 6,667 (1) (2) (3) re-prices (4) Reconciliations of Fair Value Measurements Categorized within Level 3 of the Fair Value Hierarchy Embedded Derivatives in Lease Agreements A rollforward of the net asset (liability) activity in the Company’s fair value of the embedded derivatives is as follows (in thousands): Fair Value Balance at January 1, 2016 $ - Gain (loss) recognized in “Other income (expense)” (1) (714) Effect of foreign currency 159 Balance at December 31, 2016 $ (555) Gain (loss) recognized in “Other income (expense)” (1) 139 Effect of foreign currency 41 Balance at March 31, 2017 $ (375) Unrealized gain (loss) for the three months ended March 31, 2016 $ 55 Unrealized gain (loss) for the three months ended March 31, 2017 $ 184 (1) Contingent Consideration A rollforward of the activity in the Company’s fair value of the contingent consideration is as follows (in thousands): Fair Value Balance at January 1, 2016 $ 6,280 Acquisition (1) 2,779 Payments (1,396) Imputed interest 754 Fair value (gain) loss adjustments (2,250) Effect of foreign currency (67) Balance at December 31, 2016 6,100 Payments (126) Imputed interest 34 Fair value (gain) loss adjustments (433) Effect of foreign currency 58 Balance at March 31, 2017 $ 5,633 (1) The Company recorded a fair value gain of $2.6 million to the Qelp contingent consideration in “General and administrative” during the year ended December 31, 2016 due to the execution of an addendum to the Qelp purchase agreement subject to which the Company will pay the sellers EUR 4.0 million ($4.3 million as of March 31, 2017) by June 30, 2017. The Company recorded a fair value gain of $0.4 million in “General and administrative” during the three months ended March 31, 2017 to the Clearlink contingent consideration upon settlement of one of the contingent consideration liabilities. The Company recorded a fair value loss of $0.3 million in “General and administrative” during the year ended December 31, 2016 to the Clearlink contingent consideration due to changes in the probability of achievement of certain revenue targets. The Company accretes interest expense each period using the effective interest method until the contingent consideration reaches the estimated remaining future value of $5.7 million. Interest expense related to the contingent consideration is included in “Interest (expense)” in the accompanying Condensed Consolidated Statements of Operations. Non-Recurring 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 March 31, 2017 and December 31, 2016. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | Note 5. Goodwill and Intangible Assets Intangible Assets The following table presents the Company’s purchased intangible assets as of March 31, 2017 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average Intangible assets subject to amortization: Customer relationships $ 167,039 $ (80,208) $ 86,831 10 Trade names and trademarks 14,096 (7,509) 6,587 7 Non-compete 2,994 (1,794) 1,200 2 Content library 482 (422) 60 2 Proprietary software 1,550 (990) 560 3 Favorable lease agreement 449 (449) - 2 Intangible assets not subject to amortization: Domain names 52,710 - 52,710 N/A $ 239,320 $ (91,372) $ 147,948 6 The following table presents the Company’s purchased intangible assets as of December 31, 2016 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average Intangible assets subject to amortization: Customer relationships $ 166,634 $ (75,364) $ 91,270 10 Trade names and trademarks 14,095 (7,083) 7,012 7 Non-compete 2,993 (1,643) 1,350 2 Content library 475 (357) 118 2 Proprietary software 1,550 (955) 595 3 Favorable lease agreement 449 (449) - 2 Intangible assets not subject to amortization: Domain names 52,710 - 52,710 N/A $ 238,906 $ (85,851) $ 153,055 6 The Company’s estimated future amortization expense for the succeeding years relating to the purchased intangible assets resulting from acquisitions completed prior to March 31, 2017, is as follows (in thousands): Amount 2017 (remaining nine months) $ 15,582 2018 14,592 2019 13,544 2020 10,887 2021 6,408 2022 5,475 2023 and thereafter 28,750 Goodwill Changes in goodwill for the three months ended March 31, 2017 consist of the following (in thousands): January 1, 2017 Acquisition Effect of Foreign March 31, 2017 Americas $ 255,842 $ - $ 314 $ 256,156 EMEA 9,562 - 153 9,715 $ 265,404 $ - $ 467 $ 265,871 Changes in goodwill for the year ended December 31, 2016 consist of the following (in thousands): January 1, 2016 Acquisition (1) Effect of Foreign December 31, 2016 Americas $ 186,049 $ 70,563 $ (770) $ 255,842 EMEA 9,684 - (122) 9,562 $ 195,733 $ 70,563 $ (892) $ 265,404 (1) The Company performs its annual goodwill impairment test during the third quarter, or more frequently, if indicators of impairment exist. For the annual goodwill impairment test, the Company elected to forgo the option to first assess qualitative factors and performed its annual two-step The process of evaluating the fair value of the reporting units is highly subjective and requires significant judgment and estimates as the reporting units operate in a number of markets and geographical regions. The Company used an average of the income and market approaches to determine its best estimates of fair value which incorporated the following significant assumptions: • Revenue projections, including revenue growth during the forecast periods; • EBITDA margin projections over the forecast periods; • Estimated income tax rates; • Estimated capital expenditures; and • Discount rates based on various inputs, including the risks associated with the specific reporting units as well as their revenue growth and EBITDA margin assumptions. As of July 31, 2016, the Company concluded that goodwill was not impaired for all six of its reporting units with goodwill, based on generally accepted valuation techniques and the significant assumptions outlined above. While the fair values of four of the six reporting units were substantially in excess of their carrying value, the Qelp reporting unit’s fair value exceeded its carrying value (although not substantially) and the newly acquired Clearlink reporting unit’s fair value approximated its carrying value due to the proximity to the acquisition date of April 1, 2016. The Qelp and Clearlink reporting units are at risk of future impairment if projected operating results are not met or other inputs into the fair value measurement change. However, as of March 31, 2017, there were no indicators of impairment related to Qelp’s $9.7 million of goodwill or Clearlink’s $70.6 million of goodwill. |
Financial Derivatives
Financial Derivatives | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Financial Derivatives | Note 6. Financial Derivatives Cash Flow Hedges Derivatives and Hedging 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): March 31, 2017 December 31, 2016 Deferred gains (losses) in AOCI $ (1,743) $ (2,295) Tax on deferred gains (losses) in AOCI 50 69 Deferred gains (losses) in AOCI, net of taxes $ (1,693) $ (2,226) Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (1,743) 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 Non-Designated Foreign Currency Forward Contracts Embedded Derivatives The Company had the following outstanding foreign currency forward contracts and options, and embedded derivatives (in thousands): As of March 31, 2017 As of December 31, 2016 Contract Type Notional Settle Through Notional Settle Through Cash flow hedges: Options: Philippine Pesos $ 36,000 December 2017 $ 51,000 December 2017 Forwards: Costa Rican Colones 48,000 January 2018 45,500 December 2017 Hungarian Forints 1,922 December 2017 - - Romanian Leis 5,393 December 2017 - - Net investment hedges: Forwards: Euros 76,933 September 2017 76,933 September 2017 Non-designated Forwards 56,477 June 2017 55,614 March 2017 Embedded derivatives 13,265 April 2030 13,234 April 2030 Master netting agreements exist with each respective counterparty to reduce credit risk by permitting net settlement of derivative positions. In the event of default by the Company or one of its counterparties, these agreements include a set-off non-defaulting Although legally enforceable master netting arrangements exist between the Company and each counterparty, 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 March 31, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 55 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (1) 2,631 3,230 2,686 3,230 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) 103 691 Embedded derivatives (1) 11 8 Embedded derivatives (2) 14 4 Total derivative assets $ 2,814 $ 3,933 Derivative Liabilities March 31, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 1,451 $ 1,806 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) 505 106 Embedded derivatives (3) 168 174 Embedded derivatives (4) 232 393 Total derivative liabilities $ 2,356 $ 2,479 (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 March 31, 2017 and 2016 (in thousands): Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) Gain (Loss) Reclassified From Accumulated AOCI Into “Revenues” (Effective Portion) Gain (Loss) Recognized in “Revenues” on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) March 31, March 31, March 31, 2017 2016 2017 2016 2017 2016 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (234) $ 2,503 $ (760) $ (54) $ - $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (599) (3,112) - - - - $ (833) $ (609) $ (760) $ (54) $ - $ - Gain (Loss) Recognized in “Other income (expense)” on Derivatives March 31, 2017 2016 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (839 ) $ 795 Embedded derivatives 139 (56 ) $ (700 ) $ 739 |
Investments Held in Rabbi Trust
Investments Held in Rabbi Trust | 3 Months Ended |
Mar. 31, 2017 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments Held in Rabbi Trust | Note 7. 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): March 31, 2017 December 31, 2016 Cost Fair Value Cost Fair Value Mutual funds $ 7,455 $ 10,445 $ 7,257 $ 9,414 The mutual funds held in rabbi trust were 80% equity-based and 20% debt-based as of March 31, 2017. Net investment income (losses), included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations consists of the following (in thousands): Three Months Ended March 31, 2017 2016 Dividend and interest income $ 14 $ 9 Net unrealized holding gains (losses) 393 20 Net investment income (losses) $ 407 $ 29 |
Deferred Revenue
Deferred Revenue | 3 Months Ended |
Mar. 31, 2017 | |
Deferred Revenue Disclosure [Abstract] | |
Deferred Revenue | Note 8. Deferred Revenue Deferred revenue consists of the following (in thousands): March 31, 2017 December 31, 2016 Future service $ 27,042 $ 27,116 Estimated potential penalties and holdbacks 6,199 6,593 Estimated chargebacks 5,599 5,027 $ 38,840 $ 38,736 |
Deferred Grants
Deferred Grants | 3 Months Ended |
Mar. 31, 2017 | |
Text Block [Abstract] | |
Deferred Grants | Note 9. Deferred Grants Deferred grants, net of accumulated amortization, consist of the following (in thousands): March 31, 2017 December 31, 2016 Property grants $ 3,226 $ 3,353 Lease grants 516 502 Employment grants 75 67 3,817 3,922 Less: Lease grants - short-term (1) (101) (94) Less: Employment grants - short-term (1) (75) (67) $ 3,641 $ 3,761 (1) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheets. |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Borrowings | Note 10. Borrowings On May 12, 2015, the Company entered into a $440 million revolving credit facility (the “2015 Credit Agreement”) with a group of lenders and KeyBank National Association, as Lead Arranger, Sole Book Runner, Administrative Agent, Swing Line Lender and Issuing Lender (“KeyBank”). The 2015 Credit Agreement is subject to certain borrowing limitations and includes certain customary financial and restrictive covenants. The 2015 Credit Agreement includes a $200 million alternate-currency sub-facility, sub-facility sub-facility, Borrowings consist of the following (in thousands): March 31, 2017 December 31, 2016 Revolving credit facility $ 267,000 $ 267,000 Less: Current portion - - Total long-term debt $ 267,000 $ 267,000 On April 1, 2016, the Company borrowed $216.0 million under its 2015 Credit Agreement in connection with the acquisition of Clearlink. The 2015 Credit Agreement matures on May 12, 2020, and has no varying installments due. Borrowings under the 2015 Credit Agreement bear interest at the rates set forth in the 2015 Credit Agreement. In addition, the Company is required to pay certain customary fees, including a commitment fee determined quarterly based on the Company’s leverage ratio and due quarterly in arrears as calculated on the average unused amount of the 2015 Credit Agreement. The 2015 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 In May 2015, the Company paid an underwriting fee of $0.9 million for the 2015 Credit Agreement, which is deferred and amortized over the term of the loan, along with the deferred loan fees of $0.4 million related to the previous credit agreement. The following table presents information related to our credit agreements (dollars in thousands): Three Months Ended March 31, 2017 2016 Average daily utilization $ 267,000 $ 70,000 Interest expense, including commitment fee (1) $ 1,443 $ 375 Weighted average interest rate (2) 2.2% 2.1% (1) (2) |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 11. 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 Foreign Unrealized Investment Unrealized Unrealized Unrealized Total Balance at January 1, 2016 $ (58,601) $ 4,170 $ 1,029 $ (527) $ 267 $ (53,662) Pre-tax (13,832) 3,409 212 (2,313) (9) (12,533) Tax (provision) benefit - (1,313) (8) 72 - (1,249) Reclassification of (gain) loss to net income - - (52) 527 (58) 417 Foreign currency translation 40 - (56) 16 - - Balance at December 31, 2016 (72,393) 6,266 1,125 (2,225) 200 (67,027) Pre-tax 3,911 (599) - (234) (1) 3,077 Tax (provision) benefit - 231 - 21 - 252 Reclassification of (gain) loss to net income - - (10) 719 (12) 697 Foreign currency translation (13) - (13) 26 - - Balance at March 31, 2017 $ (68,495) $ 5,898 $ 1,102 $ (1,693) $ 187 $ (63,001) 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 March 31, Statements of Operations 2017 2016 Location Actuarial Gain (Loss) Related to Pension Liability: (1) Pre-tax $ 10 $ 12 Direct salaries and related costs Tax (provision) benefit - - Income taxes Reclassification to net income 10 12 Gain (Loss) on Cash Flow Hedging Instruments: (2) Pre-tax (760) (54) Revenues Tax (provision) benefit 41 19 Income taxes Reclassification to net income (719) (35) Gain (Loss) on Post Retirement Obligation: (1) Pre-tax 12 13 General and administrative Tax (provision) benefit - - Income taxes Reclassification to net income 12 13 Total reclassification of gain (loss) to net income $ (697) $ (10) (1) (2) As discussed in Note 12, Income Taxes, earnings associated with the Company’s investments in its foreign subsidiaries are considered to be indefinitely reinvested and no provision for income taxes on those earnings or translation adjustments have been provided. |
Income Taxes
Income Taxes | 3 Months Ended |
Mar. 31, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 12. Income Taxes The Company’s effective tax rate was 26.1% and 30.8% for the three months ended March 31, 2017 and 2016, respectively. The decrease in the effective tax rates is primarily due to the recognition of a $0.9 million tax benefit resulting from the adoption of ASU 2016-09 2016-09, Earnings associated with the investments in the Company’s foreign subsidiaries are considered to be indefinitely reinvested 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. The Company is currently under audit in several tax jurisdictions. The Company received assessments for the Canadian 2003-2009 audit. Requests for Competent Authority Assistance were filed with both the Canadian Revenue Agency and the U.S. Internal Revenue Service and the Company paid mandatory security deposits to Canada as part of this process. The total amount of deposits, net of the effects of foreign exchange rate adjustments, are $14.0 million and $13.8 million as of March 31, 2017 and December 31, 2016, respectively, and are included in “Prepaid expenses” and “Deferred charges and other assets”, respectively, in the accompanying Condensed Consolidated Balance Sheets. A final resolution of the Competent Authority proceedings is expected in the next twelve months. As a result, the associated unrecognized tax benefit was reclassified from “Long-term income tax liabilities” to “Income taxes payable” in the accompanying Condensed Consolidated Balance Sheet as of March 31, 2017. The outcome of examinations by taxing authorities is always uncertain and an estimate of the final determination cannot be made at this time. The Company believes it is adequately reserved for these audits and 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 Years Ended Canada 2003 to 2009 |
Earnings Per Share
Earnings Per Share | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 13. 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 appreciation rights, restricted stock, restricted stock units and shares held in 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 March 31, 2017 2016 Basic: Weighted average common shares outstanding 41,654 41,704 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 251 319 Total weighted average diluted shares outstanding 41,905 42,023 Anti-dilutive shares excluded from the diluted earnings per share calculation 9 20 On August 18, 2011, the Company’s Board of Directors (the “Board”) authorized the Company to purchase up to 5.0 million shares of its outstanding common stock (the “2011 Share Repurchase Program”). On March 16, 2016, the Board authorized an increase of 5.0 million shares to the 2011 Share Repurchase Program for a total of 10.0 million shares. A total of 5.3 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. There were no shares repurchased under the Company’s share repurchase programs during the three months ended March 31, 2017 and 2016. |
Commitments and Loss Contingenc
Commitments and Loss Contingency | 3 Months Ended |
Mar. 31, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Loss Contingency | Note 14. Commitments and Loss Contingency Commitments During the three months ended March 31, 2017, 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 March 31, 2017 (in thousands): Amount 2017 (remaining nine months) $ 1,256 2018 3,387 2019 2,839 2020 3,353 2021 3,384 2022 2,537 2023 and thereafter 8,631 Total minimum payments required $ 25,387 During the three months ended March 31, 2017, 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 generally are not cancelable, range from one to five year periods and may contain fixed or minimum annual commitments. Certain of these agreements allow for renegotiation of the minimum annual commitments. The following is a schedule of the future minimum purchases remaining under the agreements as of March 31, 2017 (in thousands): Amount 2017 (remaining nine months) $ 6,908 2018 525 2019 291 2020 - 2021 - 2022 - 2023 and thereafter - Total minimum payments required $ 7,724 The July 2015 Qelp acquisition included contingent consideration of $6.0 million, based on achieving targets tied to revenues and EBITDA for the years ended December 31, 2016, 2017 and 2018. On September 26, 2016, the Company entered into an addendum to the Qelp purchase agreement with the sellers to settle the outstanding contingent consideration for EUR 4.0 million ($4.3 million as of March 31, 2017) to be paid by June 30, 2017. As part of the April 2016 Clearlink acquisition, the Company assumed contingent consideration liabilities related to four separate acquisitions made by Clearlink in 2015 and 2016, prior to the Merger. The fair value of the contingent consideration related to these previous acquisitions was $2.8 million as of April 1, 2016 and was based on achieving targets primarily tied to revenues for varying periods of time during 2016 and 2017. As of March 31, 2017, the fair value of the remaining contingent consideration was $1.3 million. The estimated future value of the contingent consideration is $1.4 million and is expected to be paid on varying dates through July 2017. 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 when possible and appropriate, provided adequate accruals related to those matters 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 an
Defined Benefit Pension Plan and Postretirement Benefits | 3 Months Ended |
Mar. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Defined Benefit Pension Plan and Postretirement Benefits | Note 15. 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 March 31, 2017 2016 Service cost $ 125 $ 118 Interest cost 49 44 Recognized actuarial (gains) (10) (12) Net periodic benefit cost $ 164 $ 150 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 Statements of Operations were as follows (in thousands): Three Months Ended March 31, 2017 2016 401(k) plan contributions $ 311 $ 285 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): March 31, 2017 December 31, 2016 Postretirement benefit obligation $ 24 $ 27 Unrealized gains (losses) in AOCI (1) $ 187 $ 200 (1) Unrealized gains (losses) are impacted by changes in discount rates related to the postretirement obligation. |
Stock-Based Compensation
Stock-Based Compensation | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-Based Compensation | Note 16. Stock-Based Compensation The Company’s stock-based compensation plans include the 2011 Equity Incentive Plan, the Non-Employee Three Months Ended March 31, 2017 2016 Stock-based compensation (expense) (1) $ (2,471) $ (2,182) Income tax benefit (2) 951 829 Excess tax benefit (deficiency) from stock-based compensation (3) - 1,911 (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 There were no capitalized stock-based compensation costs as of March 31, 2017 and December 31, 2016. Beginning January 1, 2017, as a result of the adoption of ASU 2016-09, 2011 Equity Incentive Plan — non-employees Stock Appreciation Rights — one-third The following table summarizes SARs activity as of March 31, 2017 and for the three months then ended: Stock Appreciation Rights Shares (000s) Weighted Weighted Aggregate Outstanding at January 1, 2017 633 $ - Granted - $ - Exercised (38) $ - Forfeited or expired - $ - Outstanding at March 31, 2017 595 $ - 8.0 $ 1,804 Vested or expected to vest at March 31, 2017 595 $ - 8.0 $ 1,804 Exercisable at March 31, 2017 321 $ - 7.3 $ 1,490 The following table summarizes information regarding SARs granted and exercised (in thousands, except per SAR amounts): Three Months Ended March 31, 2017 2016 Number of SARs granted - - Weighted average grant-date fair value per SAR $ - $ - Intrinsic value of SARs exercised $ 306 $ 413 Fair value of SARs vested $ 1,846 $ 1,520 The following table summarizes nonvested SARs activity as of March 31, 2017 and for the three months then ended: Weighted Average Grant- Nonvested Stock Appreciation Rights Shares (000s) Date Fair Value Nonvested at January 1, 2017 515 $ 7.76 Granted - $ - Vested (241) $ 7.69 Forfeited or expired - $ - Nonvested at March 31, 2017 274 $ 7.81 As of March 31, 2017, there was $2.1 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested SARs granted under the 2011 Plan. This cost is expected to be recognized over a weighted average period of 1.3 years. Restricted Shares – 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 The following table summarizes nonvested restricted shares/RSUs activity as of March 31, 2017 and for the three months then ended: Nonvested Restricted Shares and RSUs Shares (000s) Weighted Nonvested at January 1, 2017 1,136 $ 25.47 Granted - $ - Vested (328) $ 20.95 Forfeited or expired (63) $ 20.71 Nonvested at March 31, 2017 745 $ 27.87 The following table summarizes information regarding restricted shares/RSUs granted and vested (in thousands, except per restricted share/RSU amounts): Three Months Ended March 31, 2017 2016 Number of restricted shares/RSUs granted - - Weighted average grant-date fair value per restricted share/RSU $ - $ - Fair value of restricted shares/RSUs vested $ 6,868 $ 6,785 As of March 31, 2017, there was $14.2 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested restricted shares/RSUs granted under the 2011 Plan. This cost is expected to be recognized over a weighted average period of 1.7 years. Non-Employee — Non-Employee non-employee one-twelfth one-twelfth non-employee The 2004 Fee Plan also provided that each non-employee non-employee one-fourth one-fourth non-employee one-eighth one-eighth Non-Employee two-year one-year one-fourth one-fourth non-employee In addition to the Annual Retainer award, the 2004 Fee Plan also provided for any non-employee non-employee The 2004 Fee Plan expired in May 2014, prior to the 2014 Annual Shareholders’ Meeting. In March 2014, upon the recommendation of the Compensation Committee, the Board determined that, following the expiration of the 2004 Fee Plan, the compensation of non-employee Non-Employee At the Board’s regularly scheduled meeting on December 10, 2014, upon the recommendation of the Compensation Committee, the Board determined that the amount of the cash and equity compensation payable to non-employee At the Board’s regularly scheduled meeting on December 9, 2015, upon the recommendation of the Compensation Committee, the Board determined that the amount of the cash and equity compensation payable to non-employee At the Board’s regularly scheduled meeting on December 6, 2016, upon the recommendation of the Compensation Committee, the Board determined that the amount of the cash compensation payable to non-employee The Board may pay additional cash compensation to any non-employee The following table summarizes nonvested common stock share award activity as of March 31, 2017 and for the three months then ended: Nonvested Common Stock Share Awards Shares (000s) Weighted Nonvested at January 1, 2017 10 $ 28.69 Granted - $ - Vested (7) $ 28.48 Forfeited or expired - $ - Nonvested at March 31, 2017 3 $ 29.33 The following table summarizes information regarding common stock share awards granted and vested (in thousands, except per share award amounts): Three Months Ended March 31, 2017 2016 Number of share awards granted - 2 Weighted average grant-date fair value per share award $ - $ 28.97 Fair value of share awards vested $ 220 $ 190 As of March 31, 2017, there was $0.1 million of total unrecognized compensation cost, net of actual forfeitures, related to nonvested common stock share awards granted under the Fee Plan. This cost is expected to be recognized over a weighted average period of 1.0 years. Deferred Compensation Plan — non-qualified Additionally, the Company’s common stock match associated with the Deferred Compensation Plan, with a carrying value of approximately $2.0 million and $1.8 million at March 31, 2017 and December 31, 2016, respectively, is included in “Treasury stock” in the accompanying Condensed Consolidated Balance Sheets. The following table summarizes nonvested common stock activity as of March 31, 2017 and for the three months then ended: Nonvested Common Stock Shares (000s) Weighted Nonvested at January 1, 2017 2 $ 22.77 Granted 7 $ 29.40 Vested (6) $ 29.40 Forfeited or expired - $ - Nonvested at March 31, 2017 3 $ 25.64 The following table summarizes information regarding shares of common stock granted and vested (in thousands, except per common stock amounts): Three Months Ended March 31, 2017 2016 Number of shares of common stock granted 7 4 Weighted average grant-date fair value per common stock $ 29.40 $ 30.18 Fair value of common stock vested $ 162 $ 122 Cash used to settle the obligation $ 9 $ 359 As of March 31, 2017, there was less than $0.1 million of total unrecognized compensation cost, net of actual 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 3.5 years. |
Segments and Geographic Informa
Segments and Geographic Information | 3 Months Ended |
Mar. 31, 2017 | |
Segment Reporting [Abstract] | |
Segments and Geographic Information | Note 17. 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 engagement solutions (with an emphasis on inbound technical support, digital support and demand generation, and customer service) and technical staffing and (2) EMEA, which includes Europe, the Middle East and Africa, and provides outsourced customer engagement solutions (with an emphasis on technical support and customer service) and fulfillment services. The sites within Latin America, Australia 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 engagement needs. Information about the Company’s reportable segments is as follows (in thousands): Americas EMEA Other (1) Consolidated Three Months Ended March 31, 2017: Revenues $ 320,931 $ 63,067 $ 16 $ 384,014 Percentage of revenues 83.6% 16.4% 0.0% 100.0% Depreciation, net $ 11,468 $ 1,186 $ 694 $ 13,348 Amortization of intangibles $ 4,978 $ 253 $ - $ 5,231 Income (loss) from operations $ 37,933 $ 5,580 $ (17,499) $ 26,014 Total other income (expense), net (692) (692) Income taxes (6,610) (6,610) Net income $ 18,712 Three Months Ended March 31, 2016: Revenues $ 262,076 $ 58,625 $ 45 $ 320,746 Percentage of revenues 81.7% 18.3% 0.0% 100.0% Depreciation, net $ 9,176 $ 1,164 $ 444 $ 10,784 Amortization of intangibles $ 3,368 $ 259 $ - $ 3,627 Income (loss) from operations $ 32,987 $ 3,410 $ (16,127) $ 20,270 Total other income (expense), net (102) (102) Income taxes (6,214) (6,214) Net income $ 13,954 (1) Inter-segment The Company’s reportable segments are evaluated regularly by its chief operating decision maker to decide how to allocate resources and assess performance. The chief operating decision maker evaluates performance based upon stand-alone segment revenue and income (loss) from operations. Because assets by segment are not reported to or used by the Company’s chief operating decision maker to allocate resources, or to assess performance, total assets by segment are not disclosed. |
Other Income (Expense)
Other Income (Expense) | 3 Months Ended |
Mar. 31, 2017 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense) | Note 18. Other Income (Expense) Other income (expense), net consists of the following (in thousands): Three Months Ended March 31, 2017 2016 Foreign currency transaction gains (losses) $ 1,179 $ 1,346 Gains (losses) on foreign currency derivative instruments not designated as hedges (700) (739) Other miscellaneous income (expense) 373 (54) $ 852 $ 553 |
Related Party Transactions
Related Party Transactions | 3 Months Ended |
Mar. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 19. Related Party Transactions In January 2008, the Company entered into a lease for a customer engagement 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 of the Company and the father of Charles Sykes, President and Chief Executive Officer of the Company. The lease payments on the 20-year |
Subsequent Event
Subsequent Event | 3 Months Ended |
Mar. 31, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Event | Note 20. Subsequent Event On April 24, 2017, the Company entered into a definitive Asset Purchase Agreement (the “Purchase Agreement”) to acquire a Global 2000 telecommunications services provider’s customer engagement assets that service third-party clients. The aggregate purchase price of $7.5 million, plus the assumption of certain liabilities and subject to certain post-closing adjustments, is expected to be paid upon closing during the second quarter of 2017, using cash on hand. The Purchase Agreement contains customary representations and warranties, indemnification obligations and covenants. |
Overview and Basis of Present28
Overview and Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business | Business — e-mail, Acquisition On April 1, 2016, the Company completed the acquisition of Clear Link Holdings, LLC (“Clearlink”), pursuant to a definitive Agreement and Plan of Merger (the “Merger Agreement”), dated March 6, 2016. The Company has reflected Clearlink’s results in the consolidated financial statements since April 1, 2016. See Note 2, Acquisition, for additional information on the acquisition. |
Basis of Presentation | Basis of Presentation — 10-Q S-X. 10-K |
Principles of Consolidation | Principles of Consolidation — |
Use of Estimates | Use of Estimates — |
Subsequent Events | Subsequent Events — |
Customer-Acquisition Advertising Costs | Customer-Acquisition Advertising Costs |
Reclassifications | Reclassifications |
New Accounting Standards Not Yet Adopted | New Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (Topic 606) 2014-09”). 2014-09 2015-14, Revenue from Contracts with Customers (Topic 606) Deferral of the Effective Date 2015-14”). 2015-14 2014-09 2016-08, Revenue from Contracts with Customers (Topic 606) – Principal versus Agent Considerations (Reporting Revenue Gross versus Net) 2016-10, Revenue from Contracts with Customers (Topic 606) – Identifying Performance Obligations and Licensing 2016-11, Revenue Recognition and Derivatives and Hedging: Rescission of SEC Guidance Because of Accounting Standards Updates 2014-09 2014-16 3, 2016 Emerging Issues Task Force Meeting (“EITF”) 2016-12, Revenue from Contracts with Customers (Topic 606) – Narrow-Scope Improvements and Practical Expedients The Company is evaluating the impact of ASU 2014-09 In January 2016, the FASB issued ASU 2016-01, Financial Instruments - Overall (Subtopic 825-10) 2016-01”). Fair Value Measurements 2016-01 In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) 2016-02”). Leases 2016-02 In June 2016, the FASB issued ASU 2016-13, Financial Instruments – Credit Losses (Topic 326) – Measurement of Credit Losses on Financial Instruments 2016-13”). In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) – Classification of Certain Cash Receipts and Cash Payments 2016-15”). 2016-15 In October 2016, the FASB issued ASU 2016-16, Income Taxes (Topic 740) – Intra-Entity Transfers of Assets Other than Inventory 2016-16”). 2016-16 In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230) – Restricted Cash (A Consensus of the FASB Emerging Issues Task Force 2016-18”). 2016-18 In January 2017, the FASB issued ASU 2017-01, Business Combinations (Topic 805) – Clarifying the Definition of a Business 2017-01”). 2017-01 In January 2017, the FASB issued ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment 2017-04”). 2017-04 In March 2017, the FASB issued ASU 2017-07, Compensation – Retirement Benefits (Topic 715) – Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost 2017-07”). 2017-07 |
New Accounting Standards Recently Adopted | New Accounting Standards Recently Adopted In March 2016, the FASB issued ASU 2016-05, Derivatives and Hedging (Topic 815) – Effect of Derivative Contract Novations on Existing Hedge Accounting Relationships 2016-05”). 2016-05 In March 2016, the FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718) – Improvements to Employee Share-Based Payment Accounting 2016-09”). 2016-09 As a result of the adoption of ASU 2016-09, paid-in |
Fair Value Measurements | ASC 820, Fair Value Measurements and Disclosures • Level 1 — • Level 2 — • Level 3 — . Fair Value of Financial Instruments — • Cash, short-term and other investments, investments held in rabbi trust and accounts payable — • Foreign currency forward contracts and options — • Embedded derivatives — • Long-term debt — re-prices • Contingent consideration — Fair Value Measurements — 820-10-20 |
Financial Instruments | ASC 825, Financial Instruments Determination of Fair Value — 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. Foreign Currency Forward Contracts and Options — Embedded Derivatives — Investments Held in Rabbi Trust — Contingent Consideration — |
Foreign Currency and Derivative Instruments | Cash Flow Hedges Derivatives and Hedging |
Income Taxes | Earnings associated with the investments in the Company’s foreign subsidiaries are considered to be indefinitely reinvested 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. |
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 appreciation rights, restricted stock, restricted stock units and shares held in 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 (Tables)
Acquisition (Tables) - Clearlink [Member] | 3 Months Ended |
Mar. 31, 2017 | |
Summary of Consideration Paid and Transferred | The Clearlink purchase price totaled $207.9 million, consisting of the following (in thousands): Total Cash (1) $ 209,186 Working capital adjustment (1,278) $ 207,908 (1) |
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 $ 2,584 Receivables (1) 16,801 Prepaid expenses 1,553 Total current assets 20,938 Property and equipment 12,869 Goodwill 70,563 Intangibles 121,400 Deferred charges and other assets 229 Accounts payable (3,564) Accrued employee compensation and benefits (1,610) Income taxes payable (340) Deferred revenue (4,620) Other accrued expenses and current liabilities (6,324) Total current liabilities (16,458) Other long-term liabilities (1,633) $ 207,908 (1) |
Summary of Purchased Intangible Assets | The following table presents the Company’s purchased intangibles assets as of April 1, 2016, the Clearlink acquisition date (in thousands): Amount Assigned Weighted Customer relationships $ 63,800 13 Trade name 2,400 7 Non-compete 1,800 3 Proprietary software 700 5 Indefinite-lived domain names 52,700 N/A $ 121,400 7 |
Schedule of Unaudited Pro Forma Combined Revenues and Net Earnings | The following table presents the unaudited pro forma combined revenues and net earnings as if Clearlink had been included in the consolidated results of the Company for the entire three month period ended March 31, 2016. 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, 2016 (in thousands): Three Months Ended March 31, 2016 Revenues $ 354,574 Net income $ 14,920 Net income per common share: Basic $ 0.36 Diluted $ 0.36 |
Merger and Integration Costs | Merger and integration costs associated with Clearlink included in “General and administrative” costs in the accompanying Condensed Consolidated Statement of Operations in the Other segment were as follows (none in 2017) (in thousands): Three Months Ended Total transaction and integration costs $ 1,442 |
Costs Associated with Exit or30
Costs Associated with Exit or Disposal Activities (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Restructuring and Related Activities [Abstract] | |
Summary of Accrued Liability Associated with Exit Plans' Exit or Disposal Activities and Related Charges (Reversals) | The following table summarizes the accrued liability associated with the Exit Plans’ exit or disposal activities and related charges for the three months ended March 31, 2016 (none in 2017) (in thousands): Three Months Ended Beginning accrual $ 733 Cash payments (1) (206) Ending accrual $ 527 (1) |
Fair Value (Tables)
Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 as of March 31, 2017 (in thousands): Fair Value Measurements at March 31, 2017 Using: Balance at Quoted Prices Significant Other Significant March 31, 2017 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 2,789 $ - $ 2,789 $ - Embedded derivatives (1) 25 - - 25 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 8,319 8,319 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 2,126 2,126 - - $ 13,259 $ 10,445 $ 2,789 $ 25 Liabilities: Long-term debt (3) $ 267,000 $ - $ 267,000 $ - Foreign currency forward and option contracts (1) 1,956 - 1,956 - Embedded derivatives (1) 400 - - 400 Contingent consideration (4) 5,633 - - 5,633 $ 274,989 $ - $ 268,956 $ 6,033 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 as of December 31, 2016 (in thousands): Fair Value Measurements at December 31, 2016 Using: Balance at Quoted Prices in Active Markets For Significant Other Significant December 31, 2016 Level (1) Level (2) Level (3) Assets: Foreign currency forward and option contracts (1) $ 3,921 $ - $ 3,921 $ - Embedded derivatives (1) 12 - - 12 Equity investments held in rabbi trust for the Deferred Compensation Plan (2) 7,470 7,470 - - Debt investments held in rabbi trust for the Deferred Compensation Plan (2) 1,944 1,944 - - $ 13,347 $ 9,414 $ 3,921 $ 12 Liabilities: Long-term debt (3) $ 267,000 $ - $ 267,000 $ - Foreign currency forward and option contracts (1) 1,912 - 1,912 - Embedded derivatives (1) 567 - - 567 Contingent consideration (4) 6,100 - - 6,100 $ 275,579 $ - $ 268,912 $ 6,667 (1) (2) (3) re-prices (4) |
Rollforward of Net Asset (Liability) Activity of Fair Value of Embedded Derivatives | A rollforward of the net asset (liability) activity in the Company’s fair value of the embedded derivatives is as follows (in thousands): Fair Value Balance at January 1, 2016 $ - Gain (loss) recognized in “Other income (expense)” (1) (714) Effect of foreign currency 159 Balance at December 31, 2016 $ (555) Gain (loss) recognized in “Other income (expense)” (1) 139 Effect of foreign currency 41 Balance at March 31, 2017 $ (375) Unrealized gain (loss) for the three months ended March 31, 2016 $ 55 Unrealized gain (loss) for the three months ended March 31, 2017 $ 184 (1) |
Rollforward of Fair Value of Contingent Consideration | A rollforward of the activity in the Company’s fair value of the contingent consideration is as follows (in thousands): Fair Value Balance at January 1, 2016 $ 6,280 Acquisition (1) 2,779 Payments (1,396) Imputed interest 754 Fair value (gain) loss adjustments (2,250) Effect of foreign currency (67) Balance at December 31, 2016 6,100 Payments (126) Imputed interest 34 Fair value (gain) loss adjustments (433) Effect of foreign currency 58 Balance at March 31, 2017 $ 5,633 (1) |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Company's Purchased Intangible Assets | The following table presents the Company’s purchased intangible assets as of March 31, 2017 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average Intangible assets subject to amortization: Customer relationships $ 167,039 $ (80,208) $ 86,831 10 Trade names and trademarks 14,096 (7,509) 6,587 7 Non-compete 2,994 (1,794) 1,200 2 Content library 482 (422) 60 2 Proprietary software 1,550 (990) 560 3 Favorable lease agreement 449 (449) - 2 Intangible assets not subject to amortization: Domain names 52,710 - 52,710 N/A $ 239,320 $ (91,372) $ 147,948 6 The following table presents the Company’s purchased intangible assets as of December 31, 2016 (in thousands): Gross Intangibles Accumulated Net Intangibles Weighted Average Intangible assets subject to amortization: Customer relationships $ 166,634 $ (75,364) $ 91,270 10 Trade names and trademarks 14,095 (7,083) 7,012 7 Non-compete 2,993 (1,643) 1,350 2 Content library 475 (357) 118 2 Proprietary software 1,550 (955) 595 3 Favorable lease agreement 449 (449) - 2 Intangible assets not subject to amortization: Domain names 52,710 - 52,710 N/A $ 238,906 $ (85,851) $ 153,055 6 |
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 March 31, 2017, is as follows (in thousands): Amount 2017 (remaining nine months) $ 15,582 2018 14,592 2019 13,544 2020 10,887 2021 6,408 2022 5,475 2023 and thereafter 28,750 |
Changes in Goodwill | Changes in goodwill for the three months ended March 31, 2017 consist of the following (in thousands): January 1, 2017 Acquisition Effect of Foreign March 31, 2017 Americas $ 255,842 $ - $ 314 $ 256,156 EMEA 9,562 - 153 9,715 $ 265,404 $ - $ 467 $ 265,871 Changes in goodwill for the year ended December 31, 2016 consist of the following (in thousands): January 1, 2016 Acquisition (1) Effect of Foreign December 31, 2016 Americas $ 186,049 $ 70,563 $ (770) $ 255,842 EMEA 9,684 - (122) 9,562 $ 195,733 $ 70,563 $ (892) $ 265,404 (1) |
Financial Derivatives (Tables)
Financial Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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): March 31, 2017 December 31, 2016 Deferred gains (losses) in AOCI $ (1,743) $ (2,295) Tax on deferred gains (losses) in AOCI 50 69 Deferred gains (losses) in AOCI, net of taxes $ (1,693) $ (2,226) Deferred gains (losses) expected to be reclassified to “Revenues” from AOCI during the next twelve months $ (1,743) |
Outstanding Foreign Currency Forward Contracts, Options and Embedded Derivatives | The Company had the following outstanding foreign currency forward contracts and options, and embedded derivatives (in thousands): As of March 31, 2017 As of December 31, 2016 Contract Type Notional Settle Through Notional Settle Through Cash flow hedges: Options: Philippine Pesos $ 36,000 December 2017 $ 51,000 December 2017 Forwards: Costa Rican Colones 48,000 January 2018 45,500 December 2017 Hungarian Forints 1,922 December 2017 - - Romanian Leis 5,393 December 2017 - - Net investment hedges: Forwards: Euros 76,933 September 2017 76,933 September 2017 Non-designated Forwards 56,477 June 2017 55,614 March 2017 Embedded derivatives 13,265 April 2030 13,234 April 2030 |
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 March 31, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (1) $ 55 $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (1) 2,631 3,230 2,686 3,230 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (1) 103 691 Embedded derivatives (1) 11 8 Embedded derivatives (2) 14 4 Total derivative assets $ 2,814 $ 3,933 Derivative Liabilities March 31, 2017 December 31, 2016 Fair Value Fair Value Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts (3) $ 1,451 $ 1,806 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts (3) 505 106 Embedded derivatives (3) 168 174 Embedded derivatives (4) 232 393 Total derivative liabilities $ 2,356 $ 2,479 (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 March 31, 2017 and 2016 (in thousands): Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) Gain (Loss) Reclassified From Accumulated AOCI Into “Revenues” (Effective Portion) Gain (Loss) Recognized in “Revenues” on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) March 31, March 31, March 31, 2017 2016 2017 2016 2017 2016 Derivatives designated as cash flow hedging instruments under ASC 815: Foreign currency forward and option contracts $ (234) $ 2,503 $ (760) $ (54) $ - $ - Derivatives designated as net investment hedging instruments under ASC 815: Foreign currency forward contracts (599) (3,112) - - - - $ (833) $ (609) $ (760) $ (54) $ - $ - Gain (Loss) Recognized in “Other income (expense)” on Derivatives March 31, 2017 2016 Derivatives not designated as hedging instruments under ASC 815: Foreign currency forward contracts $ (839 ) $ 795 Embedded derivatives 139 (56 ) $ (700 ) $ 739 |
Investments Held in Rabbi Tru34
Investments Held in Rabbi Trust (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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): March 31, 2017 December 31, 2016 Cost Fair Value Cost Fair Value Mutual funds $ 7,455 $ 10,445 $ 7,257 $ 9,414 |
Components of Investment Income (Losses), Included in Other Income (Expense), Net in Accompanying Consolidated Statements of Operations | The mutual funds held in rabbi trust were 80% equity-based and 20% debt-based as of March 31, 2017. Net investment income (losses), included in “Other income (expense), net” in the accompanying Condensed Consolidated Statements of Operations consists of the following (in thousands): Three Months Ended March 31, 2017 2016 Dividend and interest income $ 14 $ 9 Net unrealized holding gains (losses) 393 20 Net investment income (losses) $ 407 $ 29 |
Deferred Revenue (Tables)
Deferred Revenue (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Deferred Revenue Disclosure [Abstract] | |
Components of Deferred Revenue | Deferred revenue consists of the following (in thousands): March 31, 2017 December 31, 2016 Future service $ 27,042 $ 27,116 Estimated potential penalties and holdbacks 6,199 6,593 Estimated chargebacks 5,599 5,027 $ 38,840 $ 38,736 |
Deferred Grants (Tables)
Deferred Grants (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Text Block [Abstract] | |
Schedule of Deferred Grants, Net of Accumulated Amortization | Deferred grants, net of accumulated amortization, consist of the following (in thousands): March 31, 2017 December 31, 2016 Property grants $ 3,226 $ 3,353 Lease grants 516 502 Employment grants 75 67 3,817 3,922 Less: Lease grants - short-term (1) (101) (94) Less: Employment grants - short-term (1) (75) (67) $ 3,641 $ 3,761 (1) Included in “Other accrued expenses and current liabilities” in the accompanying Condensed Consolidated Balance Sheets. |
Borrowings (Tables)
Borrowings (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Debt Disclosure [Abstract] | |
Components of Borrowings | Borrowings consist of the following (in thousands): March 31, 2017 December 31, 2016 Revolving credit facility $ 267,000 $ 267,000 Less: Current portion - - Total long-term debt $ 267,000 $ 267,000 |
Information Related to Credit Agreements | The following table presents information related to our credit agreements (dollars in thousands): Three Months Ended March 31, 2017 2016 Average daily utilization $ 267,000 $ 70,000 Interest expense, including commitment fee (1) $ 1,443 $ 375 Weighted average interest rate (2) 2.2% 2.1% (1) (2) |
Accumulated Other Comprehensi38
Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Equity [Abstract] | |
Components of 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 Foreign Unrealized Investment Unrealized Unrealized Unrealized Total Balance at January 1, 2016 $ (58,601) $ 4,170 $ 1,029 $ (527) $ 267 $ (53,662) Pre-tax (13,832) 3,409 212 (2,313) (9) (12,533) Tax (provision) benefit - (1,313) (8) 72 - (1,249) Reclassification of (gain) loss to net income - - (52) 527 (58) 417 Foreign currency translation 40 - (56) 16 - - Balance at December 31, 2016 (72,393) 6,266 1,125 (2,225) 200 (67,027) Pre-tax 3,911 (599) - (234) (1) 3,077 Tax (provision) benefit - 231 - 21 - 252 Reclassification of (gain) loss to net income - - (10) 719 (12) 697 Foreign currency translation (13) - (13) 26 - - Balance at March 31, 2017 $ (68,495) $ 5,898 $ 1,102 $ (1,693) $ 187 $ (63,001) |
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 March 31, Statements of Operations 2017 2016 Location Actuarial Gain (Loss) Related to Pension Liability: (1) Pre-tax $ 10 $ 12 Direct salaries and related costs Tax (provision) benefit - - Income taxes Reclassification to net income 10 12 Gain (Loss) on Cash Flow Hedging Instruments: (2) Pre-tax (760) (54) Revenues Tax (provision) benefit 41 19 Income taxes Reclassification to net income (719) (35) Gain (Loss) on Post Retirement Obligation: (1) Pre-tax 12 13 General and administrative Tax (provision) benefit - - Income taxes Reclassification to net income 12 13 Total reclassification of gain (loss) to net income $ (697) $ (10) (1) (2) |
Income Taxes (Tables)
Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 Years Ended Canada 2003 to 2009 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Earnings Per Share [Abstract] | |
Numbers 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 March 31, 2017 2016 Basic: Weighted average common shares outstanding 41,654 41,704 Diluted: Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust 251 319 Total weighted average diluted shares outstanding 41,905 42,023 Anti-dilutive shares excluded from the diluted earnings per share calculation 9 20 |
Commitments and Loss Continge41
Commitments and Loss Contingency (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017 (in thousands): Amount 2017 (remaining nine months) $ 1,256 2018 3,387 2019 2,839 2020 3,353 2021 3,384 2022 2,537 2023 and thereafter 8,631 Total minimum payments required $ 25,387 |
Schedule of Future Minimum Purchases Remaining under Agreements | The following is a schedule of the future minimum purchases remaining under the agreements as of March 31, 2017 (in thousands): Amount 2017 (remaining nine months) $ 6,908 2018 525 2019 291 2020 - 2021 - 2022 - 2023 and thereafter - Total minimum payments required $ 7,724 |
Defined Benefit Pension Plan 42
Defined Benefit Pension Plan and Postretirement Benefits (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Compensation and Retirement Disclosure [Abstract] | |
Net Periodic Benefit Cost and Other Accumulated Comprehensive Income 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 March 31, 2017 2016 Service cost $ 125 $ 118 Interest cost 49 44 Recognized actuarial (gains) (10) (12) Net periodic benefit cost $ 164 $ 150 |
Company's Contributions to Employee Retirement Savings Plans | The Company’s contributions included in the accompanying Condensed Consolidated Statements of Operations were as follows (in thousands): Three Months Ended March 31, 2017 2016 401(k) plan contributions $ 311 $ 285 |
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): March 31, 2017 December 31, 2016 Postretirement benefit obligation $ 24 $ 27 Unrealized gains (losses) in AOCI (1) $ 187 $ 200 (1) Unrealized gains (losses) are impacted by changes in discount rates related to the postretirement obligation. |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Disclosure of Compensation Related Costs, Share-based 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 March 31, 2017 2016 Stock-based compensation (expense) (1) $ (2,471) $ (2,182) Income tax benefit (2) 951 829 Excess tax benefit (deficiency) from stock-based compensation (3) - 1,911 (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 |
Summary of Stock Appreciation Rights Activity | The following table summarizes SARs activity as of March 31, 2017 and for the three months then ended: Stock Appreciation Rights Shares (000s) Weighted Weighted Aggregate Outstanding at January 1, 2017 633 $ - Granted - $ - Exercised (38) $ - Forfeited or expired - $ - Outstanding at March 31, 2017 595 $ - 8.0 $ 1,804 Vested or expected to vest at March 31, 2017 595 $ - 8.0 $ 1,804 Exercisable at March 31, 2017 321 $ - 7.3 $ 1,490 |
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): Three Months Ended March 31, 2017 2016 Number of SARs granted - - Weighted average grant-date fair value per SAR $ - $ - Intrinsic value of SARs exercised $ 306 $ 413 Fair value of SARs vested $ 1,846 $ 1,520 |
Summary of Nonvested Stock Appreciation Rights | The following table summarizes nonvested SARs activity as of March 31, 2017 and for the three months then ended: Weighted Average Grant- Nonvested Stock Appreciation Rights Shares (000s) Date Fair Value Nonvested at January 1, 2017 515 $ 7.76 Granted - $ - Vested (241) $ 7.69 Forfeited or expired - $ - Nonvested at March 31, 2017 274 $ 7.81 |
Summary of Nonvested Restricted Shares and Restricted Stock Units | The following table summarizes nonvested restricted shares/RSUs activity as of March 31, 2017 and for the three months then ended: Nonvested Restricted Shares and RSUs Shares (000s) Weighted Nonvested at January 1, 2017 1,136 $ 25.47 Granted - $ - Vested (328) $ 20.95 Forfeited or expired (63) $ 20.71 Nonvested at March 31, 2017 745 $ 27.87 |
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): Three Months Ended March 31, 2017 2016 Number of restricted shares/RSUs granted - - Weighted average grant-date fair value per restricted share/RSU $ - $ - Fair value of restricted shares/RSUs vested $ 6,868 $ 6,785 |
Summary of Nonvested Common Stock Units and Share Awards | The following table summarizes nonvested common stock share award activity as of March 31, 2017 and for the three months then ended: Nonvested Common Stock Share Awards Shares (000s) Weighted Nonvested at January 1, 2017 10 $ 28.69 Granted - $ - Vested (7) $ 28.48 Forfeited or expired - $ - Nonvested at March 31, 2017 3 $ 29.33 |
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): Three Months Ended March 31, 2017 2016 Number of share awards granted - 2 Weighted average grant-date fair value per share award $ - $ 28.97 Fair value of share awards vested $ 220 $ 190 |
Summary of Nonvested Common Stock | The following table summarizes nonvested common stock activity as of March 31, 2017 and for the three months then ended: Nonvested Common Stock Shares (000s) Weighted Nonvested at January 1, 2017 2 $ 22.77 Granted 7 $ 29.40 Vested (6) $ 29.40 Forfeited or expired - $ - Nonvested at March 31, 2017 3 $ 25.64 |
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): Three Months Ended March 31, 2017 2016 Number of shares of common stock granted 7 4 Weighted average grant-date fair value per common stock $ 29.40 $ 30.18 Fair value of common stock vested $ 162 $ 122 Cash used to settle the obligation $ 9 $ 359 |
Segments and Geographic Infor44
Segments and Geographic Information (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
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 March 31, 2017: Revenues $ 320,931 $ 63,067 $ 16 $ 384,014 Percentage of revenues 83.6% 16.4% 0.0% 100.0% Depreciation, net $ 11,468 $ 1,186 $ 694 $ 13,348 Amortization of intangibles $ 4,978 $ 253 $ - $ 5,231 Income (loss) from operations $ 37,933 $ 5,580 $ (17,499) $ 26,014 Total other income (expense), net (692) (692) Income taxes (6,610) (6,610) Net income $ 18,712 Three Months Ended March 31, 2016: Revenues $ 262,076 $ 58,625 $ 45 $ 320,746 Percentage of revenues 81.7% 18.3% 0.0% 100.0% Depreciation, net $ 9,176 $ 1,164 $ 444 $ 10,784 Amortization of intangibles $ 3,368 $ 259 $ - $ 3,627 Income (loss) from operations $ 32,987 $ 3,410 $ (16,127) $ 20,270 Total other income (expense), net (102) (102) Income taxes (6,214) (6,214) Net income $ 13,954 (1) Inter-segment |
Other Income (Expense) (Tables)
Other Income (Expense) (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense), Net | Other income (expense), net consists of the following (in thousands): Three Months Ended March 31, 2017 2016 Foreign currency transaction gains (losses) $ 1,179 $ 1,346 Gains (losses) on foreign currency derivative instruments not designated as hedges (700) (739) Other miscellaneous income (expense) 373 (54) $ 852 $ 553 |
Overview and Basis of Present46
Overview and Basis of Presentation - Additional Information (Detail) | 3 Months Ended | |||
Mar. 31, 2017USD ($)Segment | Mar. 31, 2016USD ($) | Jan. 01, 2017USD ($) | Dec. 31, 2016USD ($) | |
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Number of reportable segments | Segment | 2 | |||
Cash provided by operating activities | $ 37,225,000 | $ 27,428,000 | ||
Cash used for financing activities | (3,357,000) | (4,357,000) | ||
Direct Salaries and Related Costs [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Total advertising costs | 9,800,000 | 0 | ||
Accounting Standards Update 2016-09 [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Cash provided by operating activities | 1,900,000 | |||
Cash used for financing activities | $ (1,900,000) | |||
Cumulative effect of accounting change | 79,000 | |||
Accounting Standards Update 2016-09 [Member] | Additional Paid-in Capital [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Cumulative effect of accounting change | 232,000 | $ 232,000 | ||
Accounting Standards Update 2016-09 [Member] | Retained Earnings [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Cumulative effect of accounting change | (153,000) | $ (153,000) | ||
Maximum [Member] | Prepaid Expenses And Other Current Assets [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Capitalized direct response advertising costs | $ 100,000 | $ 100,000 | ||
Clearlink [Member] | ||||
Organization Consolidation And Presentation Of Financial Statements [Line Items] | ||||
Acquisition date | Apr. 1, 2016 |
Acquisition - Additional Inform
Acquisition - Additional Information (Detail) - Clearlink [Member] - USD ($) $ in Thousands | Apr. 01, 2016 | Mar. 31, 2017 |
Business Acquisition [Line Items] | ||
Acquisition date | Apr. 1, 2016 | |
Total Consideration paid | $ 207,908 | |
Funds placed in escrow as security for indemnifications | 2,600 | |
Claims Asserted for Payment of Indemnification Obligations | $ 400 | |
Americas [Member] | ||
Business Acquisition [Line Items] | ||
Percentage of outstanding membership units | 100.00% | |
Acquisition date | Apr. 1, 2016 | |
Amortization period of deductible intangibles and goodwill | 15 years |
Acquisition - Summary of Consid
Acquisition - Summary of Consideration Paid and Transferred (Detail) - Clearlink [Member] $ in Thousands | Apr. 01, 2016USD ($) |
Business Acquisition [Line Items] | |
Cash | $ 209,186 |
Working capital adjustment | (1,278) |
Total Consideration paid | $ 207,908 |
Acquisition - Summary of Final
Acquisition - Summary of Final Purchase Price Allocation of Fair Values of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Apr. 01, 2016 | Dec. 31, 2015 |
Business Acquisition [Line Items] | ||||
Goodwill | $ 265,871 | $ 265,404 | $ 195,733 | |
Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | 256,156 | 255,842 | $ 186,049 | |
Clearlink [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill | $ 70,600 | |||
Clearlink [Member] | Americas [Member] | ||||
Business Acquisition [Line Items] | ||||
Intangibles | $ 121,400 | |||
Clearlink [Member] | Americas [Member] | Final Purchase Price Allocation [Member] | ||||
Business Acquisition [Line Items] | ||||
Cash and cash equivalents | 2,584 | |||
Receivables | 16,801 | |||
Prepaid expenses | 1,553 | |||
Total current assets | 20,938 | |||
Property and equipment | 12,869 | |||
Goodwill | 70,563 | |||
Intangibles | 121,400 | |||
Deferred charges and other assets | 229 | |||
Accounts payable | (3,564) | |||
Accrued employee compensation and benefits | (1,610) | |||
Income taxes payable | (340) | |||
Deferred revenue | (4,620) | |||
Other accrued expenses and current liabilities | (6,324) | |||
Total current liabilities | (16,458) | |||
Other long-term liabilities | (1,633) | |||
Purchase price, total | $ 207,908 |
Acquisition - Summary of Purcha
Acquisition - Summary of Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | Apr. 01, 2016 | Mar. 31, 2017 | Dec. 31, 2016 |
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 6 years | 6 years | |
Customer Relationships [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 10 years | 10 years | |
Non-Compete Agreements [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 2 years | 2 years | |
Proprietary Software [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Weighted Average Amortization Period (years) | 3 years | 3 years | |
Clearlink [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 121,400 | ||
Weighted Average Amortization Period (years) | 7 years | ||
Clearlink [Member] | Americas [Member] | Indefinite-Lived Domain Names [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 52,700 | ||
Clearlink [Member] | Customer Relationships [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 63,800 | ||
Weighted Average Amortization Period (years) | 13 years | ||
Clearlink [Member] | Trade Name [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 2,400 | ||
Weighted Average Amortization Period (years) | 7 years | ||
Clearlink [Member] | Non-Compete Agreements [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 1,800 | ||
Weighted Average Amortization Period (years) | 3 years | ||
Clearlink [Member] | Proprietary Software [Member] | Americas [Member] | |||
Acquired Finite-Lived Intangible Assets [Line Items] | |||
Amount Assigned | $ 700 | ||
Weighted Average Amortization Period (years) | 5 years |
Acquisition - Schedule of Unaud
Acquisition - Schedule of Unaudited Pro Forma Combined Revenues and Net Earnings (Detail) - Clearlink [Member] $ / shares in Units, $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($)$ / shares | |
Business Acquisition [Line Items] | |
Revenues | $ | $ 354,574 |
Net income | $ | $ 14,920 |
Net income per common share: | |
Basic | $ / shares | $ 0.36 |
Diluted | $ / shares | $ 0.36 |
Acquisition - Merger and Integr
Acquisition - Merger and Integration Costs (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Clearlink [Member] | General and Administrative [Member] | Other Segments [Member] | |
Business Acquisition [Line Items] | |
Total transaction and integration costs | $ 1,442 |
Costs Associated with Exit or53
Costs Associated with Exit or Disposal Activities - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2016USD ($)Employees | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Restructuring and Related Activities [Abstract] | |||
Cash payment related to restructuring plan | $ 16,200,000 | ||
Estimated employee rationalization associated with exit or disposal activities | Employees | 800 | ||
Outstanding liability balance related to exit plan | $ 0 | $ 527,000 | $ 733,000 |
Costs Associated with Exit or54
Costs Associated with Exit or Disposal Activities - Summary of Accrued Liability Associated with Exit Plans' Exit or Disposal Activities and Related Charges (Reversals) (Detail) $ in Thousands | 3 Months Ended |
Mar. 31, 2016USD ($) | |
Restructuring and Related Activities [Abstract] | |
Beginning accrual | $ 733 |
Cash payments | (206) |
Ending accrual | $ 527 |
Fair Value - Additional Informa
Fair Value - Additional Information (Detail) $ in Thousands, € in Millions | 3 Months Ended | 12 Months Ended | ||||
Mar. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Mar. 31, 2017EUR (€) | Apr. 01, 2016USD ($) | Dec. 31, 2015USD ($) | Jul. 02, 2015USD ($) | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fair value of contingent consideration | $ 5,633 | $ 6,100 | $ 6,280 | |||
Fair value (gain) loss adjustments on contingent consideration | (433) | (2,250) | ||||
Expected future value of contingent consideration | $ 5,700 | |||||
Qelp [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fair value discount rate | 14.00% | |||||
Fair value of contingent consideration | $ 4,300 | € 4 | $ 6,000 | |||
Qelp [Member] | General and Administrative [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fair value (gain) loss adjustments on contingent consideration | (2,600) | |||||
Clearlink [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fair value discount rate | 10.00% | |||||
Fair value of contingent consideration | $ 1,300 | $ 2,800 | ||||
Expected future value of contingent consideration | 1,400 | |||||
Clearlink [Member] | General and Administrative [Member] | ||||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||||
Fair value (gain) loss adjustments on contingent consideration | $ (400) | $ 300 |
Fair Value - Assets and Liabili
Fair Value - Assets and Liabilities Measured at Fair Value on a Recurring Basis (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | |||
Derivative Assets | $ 2,814 | $ 3,933 | |
Total assets | 13,259 | 13,347 | |
Liabilities: | |||
Long-term debt | 267,000 | 267,000 | |
Derivative Liabilities | 2,356 | 2,479 | |
Total liabilities | 274,989 | 275,579 | |
Fair value of contingent consideration | 5,633 | 6,100 | $ 6,280 |
Other Accrued Expenses and Current Liabilities [Member] | |||
Liabilities: | |||
Fair value of contingent consideration | 5,633 | 6,100 | |
Foreign Currency Forward and Option Contracts [Member] | Other Current Assets [Member] | |||
Assets: | |||
Derivative Assets | 2,789 | 3,921 | |
Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | |||
Liabilities: | |||
Derivative Liabilities | 1,956 | 1,912 | |
Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | |||
Assets: | |||
Derivative Assets | 25 | 12 | |
Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | |||
Liabilities: | |||
Derivative Liabilities | 400 | 567 | |
Equity Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | |||
Assets: | |||
Investments held in rabbi trust for the Deferred Compensation Plan | 8,319 | 7,470 | |
Debt Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | |||
Assets: | |||
Investments held in rabbi trust for the Deferred Compensation Plan | 2,126 | 1,944 | |
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | |||
Assets: | |||
Total assets | 10,445 | 9,414 | |
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | Equity Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | |||
Assets: | |||
Investments held in rabbi trust for the Deferred Compensation Plan | 8,319 | 7,470 | |
Quoted Prices in Active Markets For Identical Assets Level 1 [Member] | Debt Investments Held in Rabbi Trust for the Deferred Compensation Plan [Member] | Other Current Assets [Member] | |||
Assets: | |||
Investments held in rabbi trust for the Deferred Compensation Plan | 2,126 | 1,944 | |
Significant Other Observable Inputs Level 2 [Member] | |||
Assets: | |||
Total assets | 2,789 | 3,921 | |
Liabilities: | |||
Long-term debt | 267,000 | 267,000 | |
Total liabilities | 268,956 | 268,912 | |
Significant Other Observable Inputs Level 2 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Current Assets [Member] | |||
Assets: | |||
Derivative Assets | 2,789 | 3,921 | |
Significant Other Observable Inputs Level 2 [Member] | Foreign Currency Forward and Option Contracts [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | |||
Liabilities: | |||
Derivative Liabilities | 1,956 | 1,912 | |
Significant Unobservable Inputs Level 3 [Member] | |||
Assets: | |||
Total assets | 25 | 12 | |
Liabilities: | |||
Total liabilities | 6,033 | 6,667 | |
Significant Unobservable Inputs Level 3 [Member] | Other Accrued Expenses and Current Liabilities [Member] | |||
Liabilities: | |||
Fair value of contingent consideration | 5,633 | 6,100 | |
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Current Assets, Deferred Charges and Other Assets [Member] | |||
Assets: | |||
Derivative Assets | 25 | 12 | |
Significant Unobservable Inputs Level 3 [Member] | Embedded Derivatives [Member] | Other Long-Term Liabilities and Other Accrued Expenses and Current Liabilities [Member] | |||
Liabilities: | |||
Derivative Liabilities | $ 400 | $ 567 |
Fair Value - Rollforward of Net
Fair Value - Rollforward of Net Asset (Liability) Activity of Fair Value of Embedded Derivatives (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Unrealized gain (loss) | $ (620) | $ (349) | |
Embedded Derivatives [Member] | |||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] | |||
Beginning balance | (555) | ||
Gain (loss) recognized in "Other income (expense)" | 139 | $ (714) | |
Effect of foreign currency | 41 | 159 | |
Ending balance | (375) | $ (555) | |
Unrealized gain (loss) | $ 184 | $ 55 |
Fair Value - Rollforward of Fai
Fair Value - Rollforward of Fair Value of Contingent Consideration (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Business Acquisition, Contingent Consideration [Line Items] | ||
Contingent consideration, Beginning Balance | $ 6,100 | $ 6,280 |
Cash payments | (126) | (1,396) |
Imputed interest | 34 | 754 |
Fair value (gain) loss adjustments on contingent consideration | (433) | (2,250) |
Effect of foreign currency | 58 | (67) |
Contingent Consideration, Ending Balance | 5,633 | 6,100 |
Clearlink [Member] | ||
Business Acquisition, Contingent Consideration [Line Items] | ||
Acquisition | $ 2,779 | |
Contingent Consideration, Ending Balance | $ 1,300 |
Goodwill and Intangible Asset59
Goodwill and Intangible Assets - Company's Purchased Intangible Assets (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 239,320 | $ 238,906 |
Accumulated Amortization | (91,372) | (85,851) |
Net Intangibles | $ 147,948 | $ 153,055 |
Weighted Average Amortization Period (years) | 6 years | 6 years |
Customer Relationships [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 167,039 | $ 166,634 |
Accumulated Amortization | (80,208) | (75,364) |
Net Intangibles | $ 86,831 | $ 91,270 |
Weighted Average Amortization Period (years) | 10 years | 10 years |
Trade Name and Trademarks [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 14,096 | $ 14,095 |
Accumulated Amortization | (7,509) | (7,083) |
Net Intangibles | $ 6,587 | $ 7,012 |
Weighted Average Amortization Period (years) | 7 years | 7 years |
Content Library [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 482 | $ 475 |
Accumulated Amortization | (422) | (357) |
Net Intangibles | $ 60 | $ 118 |
Weighted Average Amortization Period (years) | 2 years | 2 years |
Non-Compete Agreements [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 2,994 | $ 2,993 |
Accumulated Amortization | (1,794) | (1,643) |
Net Intangibles | $ 1,200 | $ 1,350 |
Weighted Average Amortization Period (years) | 2 years | 2 years |
Proprietary Software [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 1,550 | $ 1,550 |
Accumulated Amortization | (990) | (955) |
Net Intangibles | $ 560 | $ 595 |
Weighted Average Amortization Period (years) | 3 years | 3 years |
Favorable Lease Agreement [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 449 | $ 449 |
Accumulated Amortization | $ (449) | $ (449) |
Weighted Average Amortization Period (years) | 2 years | 2 years |
Domain Names Not Subject To Amortization [Member] | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Intangibles | $ 52,710 | $ 52,710 |
Net Intangibles | $ 52,710 | $ 52,710 |
Goodwill and Intangible Asset60
Goodwill and Intangible Assets - Estimated Future Amortization Expense (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract] | |
2017 (remaining nine months) | $ 15,582 |
2,018 | 14,592 |
2,019 | 13,544 |
2,020 | 10,887 |
2,021 | 6,408 |
2,022 | 5,475 |
2023 and thereafter | $ 28,750 |
Goodwill and Intangible Asset61
Goodwill and Intangible Assets - Changes in Goodwill (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | $ 265,404 | $ 195,733 |
Acquisition | 70,563 | |
Effect of Foreign Currency | 467 | (892) |
Ending Balance, Goodwill Net | 265,871 | 265,404 |
Americas [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 255,842 | 186,049 |
Acquisition | 70,563 | |
Effect of Foreign Currency | 314 | (770) |
Ending Balance, Goodwill Net | 256,156 | 255,842 |
EMEA [Member] | ||
Goodwill [Line Items] | ||
Beginning Balance, Goodwill Net | 9,562 | 9,684 |
Effect of Foreign Currency | 153 | (122) |
Ending Balance, Goodwill Net | $ 9,715 | $ 9,562 |
Goodwill and Intangible Asset62
Goodwill and Intangible Assets - Additional Information (Detail) | 3 Months Ended | ||
Mar. 31, 2017USD ($)Reporting_Unit | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Goodwill [Line Items] | |||
Number of reporting units | Reporting_Unit | 6 | ||
Number of reporting units, fair value in excess of carrying value | Reporting_Unit | 4 | ||
Goodwill | $ 265,871,000 | $ 265,404,000 | $ 195,733,000 |
Qelp [Member] | |||
Goodwill [Line Items] | |||
Goodwill Impairment Loss | 0 | ||
Goodwill | $ 9,700,000 | ||
Clearlink [Member] | |||
Goodwill [Line Items] | |||
Acquisition date | Apr. 1, 2016 | ||
Goodwill | $ 70,600,000 |
Financial Derivatives - Deferre
Financial Derivatives - Deferred Gains (Losses) and Related Taxes on Cash Flow Hedges (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Deferred gains (losses) in AOCI | $ (1,743) | $ (2,295) |
Tax on deferred gains (losses) in AOCI | 50 | 69 |
Deferred gains (losses) in AOCI, net of taxes | (1,693) | $ (2,226) |
Deferred gains (losses) expected to be reclassified to "Revenues" from AOCI during the next twelve months | $ (1,743) |
Financial Derivatives - Additio
Financial Derivatives - Additional Information (Detail) - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
Maximum period of foreign currency hedge contracts | 180 days | |
Maximum amount of loss due to credit risk | $ 2,800,000 | $ 3,900,000 |
Total net settlement amount asset positions | 2,500,000 | 3,600,000 |
Total net settlement amount liability positions | $ 1,600,000 | $ 1,600,000 |
Financial Derivatives - Outstan
Financial Derivatives - Outstanding Foreign Currency Forward Contracts, Options and Embedded Derivatives (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Option Contracts [Member] | Philippine Pesos [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 36,000 | $ 51,000 |
Settle Through Date | Dec. 31, 2017 | Dec. 31, 2017 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Costa Rican Colones [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 48,000 | $ 45,500 |
Settle Through Date | Jan. 31, 2018 | Dec. 31, 2017 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Hungarian Forints [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 1,922 | |
Settle Through Date | Dec. 31, 2017 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Forwards [Member] | Romanian Leis [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 5,393 | |
Settle Through Date | Dec. 31, 2017 | |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Net Investment Hedges [Member] | Forwards [Member] | Euros [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 76,933 | $ 76,933 |
Settle Through Date | Sep. 30, 2017 | Sep. 30, 2017 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Forwards [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 56,477 | $ 55,614 |
Settle Through Date | Jun. 30, 2017 | Mar. 31, 2017 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | ||
Derivative [Line Items] | ||
Notional Amount | $ 13,265 | $ 13,234 |
Settle Through Date | Apr. 30, 2030 | Apr. 30, 2030 |
Financial Derivatives - Derivat
Financial Derivatives - Derivative Instruments Fair Value (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 2,814 | $ 3,933 |
Derivative Liabilities | 2,356 | 2,479 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 2,686 | 3,230 |
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 | 103 | 691 |
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 | 505 | 106 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 11 | 8 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Deferred Charges and Other Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 14 | 4 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Accrued Expenses and Current Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 168 | 174 |
Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | Other Long-Term Liabilities [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 232 | 393 |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Current Assets [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 55 | |
Cash Flow Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Accrued Expenses and Current Liabilities [Member] | Option Contracts [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 1,451 | 1,806 |
Net Investment Hedges [Member] | Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Foreign Currency Forward Contracts [Member] | Other Current Assets [Member] | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 2,631 | $ 3,230 |
Financial Derivatives - Effect
Financial Derivatives - Effect of Company's Derivative Instruments (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | $ (833) | $ (609) |
Gain (Loss) Reclassified From Accumulated AOCI Into "Revenues" (Effective Portion) | (760) | (54) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Cash Flow Hedges [Member] | Foreign Currency Forward Contracts [Member] | Option Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | (234) | 2,503 |
Gain (Loss) Reclassified From Accumulated AOCI Into "Revenues" (Effective Portion) | (760) | (54) |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 |
Derivatives Designated as Hedging Instruments under ASC 815 [Member] | Net Investment Hedges [Member] | Foreign Currency Forward Contracts [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in AOCI on Derivatives (Effective Portion) | (599) | (3,112) |
Gain (Loss) Reclassified From Accumulated AOCI Into "Revenues" (Effective Portion) | 0 | 0 |
Gain (Loss) Recognized in "Revenues" on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing) | 0 | 0 |
Other Income (Expense) [Member] | Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | (700) | 739 |
Other Income (Expense) [Member] | 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 (Expense) on Derivatives | (839) | 795 |
Other Income (Expense) [Member] | Derivatives Not Designated as Hedging Instruments under ASC 815 [Member] | Embedded Derivatives [Member] | ||
Derivative Instruments, Gain (Loss) [Line Items] | ||
Gain (Loss) Recognized in Other Income (Expense) on Derivatives | $ 139 | $ (56) |
Investments Held in Rabbi Tru68
Investments Held in Rabbi Trust - Investments Held in Rabbi Trust, Classified as Trading (Detail) - Mutual Funds [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Cost | $ 7,455 | $ 7,257 |
Other Current Assets [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Mutual funds, Fair Value | $ 10,445 | $ 9,414 |
Investments Held in Rabbi Tru69
Investments Held in Rabbi Trust - Additional Information (Detail) | Mar. 31, 2017 |
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 Tru70
Investments Held in Rabbi Trust - Components of Investment Income (Losses), Included in Other Income (Expense), Net in Accompanying Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Dividend and interest income | $ 14 | $ 9 |
Net unrealized holding gains (losses) | 393 | 20 |
Other Income (Expense) [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Net investment income (losses) | $ 407 | $ 29 |
Deferred Revenue - Components o
Deferred Revenue - Components of Deferred Revenue (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Deferred Revenue Disclosure [Abstract] | ||
Future service | $ 27,042 | $ 27,116 |
Estimated potential penalties and holdbacks | 6,199 | 6,593 |
Estimated chargebacks | 5,599 | 5,027 |
Deferred revenue | $ 38,840 | $ 38,736 |
Deferred Grants - Schedule of D
Deferred Grants - Schedule of Deferred Grants, Net of Accumulated Amortization (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Deferred Revenue Arrangement [Line Items] | ||
Total deferred grants | $ 3,817 | $ 3,922 |
Less: Lease grants - short-term | (101) | (94) |
Less: Employment grants - short-term | (75) | (67) |
Total long-term deferred grants | 3,641 | 3,761 |
Total deferred grants | 3,817 | 3,922 |
Other Long-Term Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Property grants | 3,226 | 3,353 |
Lease grants | 516 | 502 |
Other Accrued Expenses and Current Liabilities [Member] | ||
Deferred Revenue Arrangement [Line Items] | ||
Employment grants | $ 75 | $ 67 |
Borrowings - Additional Informa
Borrowings - Additional Information (Detail) - USD ($) | 3 Months Ended | ||||
Mar. 31, 2017 | Dec. 31, 2016 | Apr. 01, 2016 | May 31, 2015 | May 12, 2015 | |
Line of Credit Facility [Line Items] | |||||
Total long-term debt | $ 267,000,000 | $ 267,000,000 | |||
2015 Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 440,000,000 | ||||
Line of credit facility, expiration date | May 12, 2020 | ||||
Varying installments due | $ 0 | ||||
Credit agreement customary fees description | The Company is required to pay certain customary fees, including a commitment fee determined quarterly based on the Company's leverage ratio and due quarterly in arrears as calculated on the average unused amount of the 2015 Credit Agreement. | ||||
Underwriting fee for credit agreement | $ 900,000 | ||||
2015 Credit Agreement [Member] | Clearlink [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Total long-term debt | $ 216,000,000 | ||||
2015 Credit Agreement [Member] | Non-Voting Capital Stock Direct Foreign Subsidiaries [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Percentage of capital stock pledged under credit agreement | 100.00% | ||||
2015 Credit Agreement [Member] | Voting Capital Stock Direct Foreign Subsidiaries [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Percentage of capital stock pledged under credit agreement | 65.00% | ||||
2012 Credit Agreement [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Underwriting fee for credit agreement | $ 400,000 | ||||
2015 Credit Agreement Alternate-Currency Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 200,000,000 | ||||
2015 Credit Agreement Swingline Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | 10,000,000 | ||||
2015 Credit Agreement Letter of Credit Sub-Facility [Member] | |||||
Line of Credit Facility [Line Items] | |||||
Maximum borrowing capacity | $ 35,000,000 |
Borrowings - Components of Borr
Borrowings - Components of Borrowings (Detail) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Line of Credit Facility [Line Items] | ||
Total long-term debt | $ 267,000 | $ 267,000 |
Revolving Credit Facility [Member] | ||
Line of Credit Facility [Line Items] | ||
Revolving credit facility | 267,000 | 267,000 |
Less: Current portion | 0 | 0 |
Total long-term debt | $ 267,000 | $ 267,000 |
Borrowings - Information Relate
Borrowings - Information Related to Credit Agreements (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Line of Credit Facility [Abstract] | ||
Average daily utilization of borrowings | $ 267,000 | $ 70,000 |
Interest expense including commitment fees, excluding amortization of deferred loan fees | $ 1,443 | $ 375 |
Weighted average interest rate | 2.20% | 2.10% |
Accumulated Other Comprehensi76
Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2017 | Dec. 31, 2016 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | $ (67,027) | $ (53,662) |
Pre-tax amount | 3,077 | (12,533) |
Tax (provision) benefit | 252 | (1,249) |
Reclassification of (gain) loss to net income | 697 | 417 |
Ending balance, accumulated other comprehensive income (loss) | (63,001) | (67,027) |
Foreign Currency Translation Gain (Loss) [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | (72,393) | (58,601) |
Pre-tax amount | 3,911 | (13,832) |
Foreign currency translation | (13) | 40 |
Ending balance, accumulated other comprehensive income (loss) | (68,495) | (72,393) |
Unrealized Gain (Loss) on Net Investment Hedge [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 6,266 | 4,170 |
Pre-tax amount | (599) | 3,409 |
Tax (provision) benefit | 231 | (1,313) |
Ending balance, accumulated other comprehensive income (loss) | 5,898 | 6,266 |
Unrealized Actuarial Gain (Loss) Related to Pension Liability [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 1,125 | 1,029 |
Pre-tax amount | 212 | |
Tax (provision) benefit | (8) | |
Reclassification of (gain) loss to net income | (10) | (52) |
Foreign currency translation | (13) | (56) |
Ending balance, accumulated other comprehensive income (loss) | 1,102 | 1,125 |
Unrealized Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | (2,225) | (527) |
Pre-tax amount | (234) | (2,313) |
Tax (provision) benefit | 21 | 72 |
Reclassification of (gain) loss to net income | 719 | 527 |
Foreign currency translation | 26 | 16 |
Ending balance, accumulated other comprehensive income (loss) | (1,693) | (2,225) |
Unrealized Gain (Loss) on Post Retirement Obligation [Member] | ||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
Beginning balance, accumulated other comprehensive income (loss) | 200 | 267 |
Pre-tax amount | (1) | (9) |
Reclassification of (gain) loss to net income | (12) | (58) |
Ending balance, accumulated other comprehensive income (loss) | $ 187 | $ 200 |
Accumulated Other Comprehensi77
Accumulated Other Comprehensive Income (Loss) - Amounts Reclassified to Net Income from Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Pre-tax amount | $ 25,322 | $ 20,168 |
Tax (provision) benefit | 6,610 | 6,214 |
Reclassification of gain (loss) to net income | 18,712 | 13,954 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Reclassification of gain (loss) to net income | (697) | (10) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Actuarial Gain (Loss) Related to Pension Liability [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Reclassification of gain (loss) to net income | 10 | 12 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Tax (provision) benefit | 41 | 19 |
Reclassification of gain (loss) to net income | (719) | (35) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Gain (Loss) on Post Retirement Obligation [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Reclassification of gain (loss) to net income | 12 | 13 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Direct Salaries and Related Costs [Member] | Actuarial Gain (Loss) Related to Pension Liability [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Pre-tax amount | 10 | 12 |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Revenues [Member] | Gain (Loss) on Cash Flow Hedging Instruments [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Pre-tax amount | (760) | (54) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | General and Administrative [Member] | Gain (Loss) on Post Retirement Obligation [Member] | ||
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | ||
Pre-tax amount | $ 12 | $ 13 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2017 | Mar. 31, 2016 | Dec. 31, 2016 | |
Income Tax Disclosure [Abstract] | |||
Effective rate of tax | 26.10% | 30.80% | |
Recognition of tax benefit | $ 0.9 | ||
Statutory federal income tax rate | 35.00% | ||
Amount of mandatory security deposit paid related to Notice of Objection | $ 14 | $ 13.8 |
Income Taxes - Summary of Signi
Income Taxes - Summary of Significant Tax Jurisdictions Currently under Audit (Detail) | 3 Months Ended |
Mar. 31, 2017 | |
Canada [Member] | |
Income Tax Examination [Line Items] | |
Significant tax jurisdictions currently under audit | 2003 to 2009 |
Earnings Per Share - Numbers of
Earnings Per Share - Numbers of Shares Used in Earnings Per Share Computation (Detail) - shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Basic: | ||
Weighted average common shares outstanding | 41,654 | 41,704 |
Diluted: | ||
Dilutive effect of stock appreciation rights, restricted stock, restricted stock units and shares held in rabbi trust | 251 | 319 |
Total weighted average diluted shares outstanding | 41,905 | 42,023 |
Anti-dilutive shares excluded from the diluted earnings per share calculation | 9 | 20 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | |||
Mar. 31, 2017 | Mar. 31, 2016 | Mar. 16, 2016 | Aug. 18, 2011 | |
Equity, Class of Treasury Stock [Line Items] | ||||
Total Number of Shares Repurchased | 0 | 0 | ||
2011 Share Repurchase Program [Member] | ||||
Equity, Class of Treasury Stock [Line Items] | ||||
Maximum amount of shares authorized for repurchase | 10,000,000 | 5,000,000 | ||
Total Number of Shares Repurchased | 5,300,000 | |||
Increase in shares authorized for repurchase | 5,000,000 |
Commitments and Loss Continge82
Commitments and Loss Contingency - Schedule of Future Minimum Rental Payments under Operating Leases (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract] | |
2017 (remaining nine months) | $ 1,256 |
2,018 | 3,387 |
2,019 | 2,839 |
2,020 | 3,353 |
2,021 | 3,384 |
2,022 | 2,537 |
2023 and thereafter | 8,631 |
Total minimum payments required | $ 25,387 |
Commitments and Loss Continge83
Commitments and Loss Contingency - Additional Information (Detail) $ in Thousands, € in Millions | 3 Months Ended | |||||
Mar. 31, 2017USD ($)Acquisition | Mar. 31, 2017EUR (€) | Dec. 31, 2016USD ($) | Apr. 01, 2016USD ($) | Dec. 31, 2015USD ($) | Jul. 02, 2015USD ($) | |
Long-term Purchase Commitment [Line Items] | ||||||
Fair value of contingent consideration | $ 5,633 | $ 6,100 | $ 6,280 | |||
Expected future value of contingent consideration | 5,700 | |||||
Qelp [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Fair value of contingent consideration | 4,300 | € 4 | $ 6,000 | |||
Clearlink [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Fair value of contingent consideration | $ 1,300 | $ 2,800 | ||||
Number of acquisitions with contingent consideration made by Clearlink prior to the Merger | Acquisition | 4 | |||||
Expected future value of contingent consideration | $ 1,400 | |||||
Minimum [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Term of agreements with third party vendors | 1 year | |||||
Maximum [Member] | ||||||
Long-term Purchase Commitment [Line Items] | ||||||
Term of agreements with third party vendors | 5 years |
Commitments and Loss Continge84
Commitments and Loss Contingency - Schedule of Future Minimum Purchases Remaining under Agreements (Detail) $ in Thousands | Mar. 31, 2017USD ($) |
Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity [Abstract] | |
2017 (remaining nine months) | $ 6,908 |
2,018 | 525 |
2,019 | 291 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
2023 and thereafter | 0 |
Total minimum payments required | $ 7,724 |
Defined Benefit Pension Plan 85
Defined Benefit Pension Plan and Postretirement Benefits - Net Periodic Benefit Cost for Pension Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Pension and Other Postretirement Benefit Plans, Accumulated Other Comprehensive Income (Loss), before Tax [Abstract] | ||
Service cost | $ 125 | $ 118 |
Interest cost | 49 | 44 |
Recognized actuarial (gains) | (10) | (12) |
Net periodic benefit cost | $ 164 | $ 150 |
Defined Benefit Pension Plan 86
Defined Benefit Pension Plan and Postretirement Benefits - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017 | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |
Percentage of employer's contribution based on participants contribution | 50.00% |
Maximum [Member] | |
Pension Plans, Postretirement and Other Employee Benefits [Line Items] | |
Percentage of employer's contribution based on participants compensation | 2.00% |
Defined Benefit Pension Plan 87
Defined Benefit Pension Plan and Postretirement Benefits - Company's Contributions to Employee Retirement Savings Plans (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Compensation and Retirement Disclosure [Abstract] | ||
401(k) plan contributions | $ 311 | $ 285 |
Defined Benefit Pension Plan 88
Defined Benefit Pension Plan and Postretirement Benefits - Post-Retirement Benefit Obligation and Unrealized Gain (Losses) (Detail) - Split-Dollar Life Insurance Arrangement [Member] - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Defined Benefit Plan Disclosure [Line Items] | ||
Postretirement benefit obligation | $ 24 | $ 27 |
Unrealized gains (losses) in AOCI | $ 187 | $ 200 |
Stock-Based Compensation - Stoc
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 ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
General and Administrative [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Stock-based compensation (expense) | $ (2,471) | $ (2,182) |
Income Taxes [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Income tax benefit | $ 951 | 829 |
Additional Paid-in Capital [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Excess tax benefit (deficiency) from stock-based compensation | $ 1,911 |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | Dec. 06, 2016 | Dec. 10, 2014 | Mar. 31, 2017 | Jun. 30, 2016 | Mar. 31, 2017 | May 16, 2012 | May 18, 2015 | Jan. 01, 2017 | Dec. 31, 2016 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Capitalized stock-based compensation costs | $ 0 | $ 0 | $ 0 | ||||||
Accounting Standards Update 2016-09 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Net cumulative effect reduction to retained earnings | 79,000 | 79,000 | |||||||
Retained Earnings [Member] | Accounting Standards Update 2016-09 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Net cumulative effect reduction to retained earnings | $ (153,000) | $ (153,000) | $ (153,000) | ||||||
2011 Equity Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Number of shares of common stock available under the 2011 plan | 4,000,000 | 4,000,000 | |||||||
2011 Equity Incentive Plan [Member] | Stock Appreciation Rights (SARs) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||
Share-based compensation vesting period | One-third on each of the first three anniversaries of the date of grant | ||||||||
Weighted average period | 1 year 3 months 18 days | ||||||||
Total unrecognized compensation cost | $ 2,100,000 | $ 2,100,000 | |||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Share-based compensation vesting period | One-third on each of the first three anniversaries of the date of grant | ||||||||
Weighted average period | 1 year 8 months 12 days | ||||||||
Total unrecognized compensation cost | $ 14,200,000 | 14,200,000 | |||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Range of vesting possibilities | 0.00% | ||||||||
2011 Equity Incentive Plan [Member] | Restricted Shares and Restricted Stock Units (RSU's) [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Range of vesting possibilities | 100.00% | ||||||||
Non-Employee Director Fee Plan [Member] | Common Stock Awards [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Plan expiration date | May 31, 2014 | ||||||||
Weighted average period | 1 year | ||||||||
Total unrecognized compensation cost | $ 100,000 | 100,000 | |||||||
Value of initial granted shares of common stock to new non employee director | $ 60,000 | $ 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 Non-Employee Director | $ 95,000 | $ 125,000 | |||||||
Annual Retainer payable in cash to Non Employee Director | $ 70,000 | $ 55,000 | $ 50,000 | 50,000 | |||||
Amended vesting period of cash Annual retainer to non-employee chairman and committee members | Vested 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 | 25,000 | $ 30,000 | |||||||
Vesting period for the annual equity award | 2 years | 1 year | |||||||
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 | ||||||||
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 the members of the Compensation Committee, Finance Committee and Nominating and Corporate Governance Committee | 7,500 | ||||||||
Annual cash awards for the Chairpersons of the Compensation Committee | 15,000 | ||||||||
Annual cash awards for the Chairpersons of the Finance Committee | 12,500 | ||||||||
Annual cash awards for the Chairpersons of the Nominating and Corporate Governance Committee | 12,500 | ||||||||
Annual Retainer payable in stock to Non Employee Director | 100,000 | ||||||||
Increased cash component of annual retainer | $ 15,000 | $ 5,000 | |||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Weighted average period | 3 years 6 months | ||||||||
Percentage of contribution in respect of amounts deferred by certain senior management participants | 50.00% | ||||||||
Vesting period of matching contributions and associated earnings | 7 years | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Minimum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Deferred compensation plan, percentage of employee deferral | 1.00% | 1.00% | |||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Total unrecognized compensation cost | $ 100,000 | $ 100,000 | |||||||
Deferred compensation plan, percentage of employee deferral | 100.00% | 80.00% | |||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Treasury Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Common stock match associated with the deferred compensation plan carrying value | 2,000,000 | $ 2,000,000 | 1,800,000 | ||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | President, Chief Executive Officer and Executive Vice Presidents [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Amounts deferred by certain senior management personnel | 12,000 | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Senior Vice President, Global Vice Presidents and Vice Presidents [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Amounts deferred by certain senior management personnel | 7,500 | ||||||||
Deferred Compensation Plan [Member] | Common Stock Awards [Member] | Other participants [Member] | Maximum [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Amounts deferred by certain senior management personnel | 5,000 | ||||||||
Deferred Compensation Plan [Member] | Accrued employee compensation and benefits | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Accrued employee compensation and benefits | $ 10,500,000 | $ 10,500,000 | $ 9,400,000 | ||||||
2001 Equity Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Plan expiration date | Mar. 14, 2011 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Stock Appreciation Rights Activity (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Outstanding Shares, beginning balance | 633 | |
Granted, Shares | 0 | 0 |
Exercised, Shares | (38) | |
Forfeited or expired, Shares | 0 | |
Outstanding Shares, ending balance | 595 | |
Vested or expected to vest, Shares | 595 | |
Exercisable, Shares | 321 | |
Outstanding, Weighted Average Exercise Price, beginning balance | $ 0 | |
Granted, Weighted Average Exercise Price | 0 | |
Exercised, Weighted Average Exercise Price | 0 | |
Forfeited or expired, Weighted Average Exercise Price | 0 | |
Outstanding, Weighted Average Exercise Price, ending balance | 0 | |
Vested or expected to vest, Weighted Average Exercise Price | 0 | |
Exercisable, Weighted Average Exercise Price | $ 0 | |
Outstanding, Weighted Average Remaining Contractual Term | 8 years | |
Vested or expected to vest, Weighted Average Remaining Contractual Term | 8 years | |
Exercisable, Weighted Average Remaining Contractual Term | 7 years 3 months 18 days | |
Outstanding, Aggregate Intrinsic Value | $ 1,804 | |
Vested or expected to vest, Aggregate Intrinsic Value | 1,804 | |
Exercisable, Aggregate Intrinsic Value | $ 1,490 |
Stock-Based Compensation - Weig
Stock-Based Compensation - Weighted Average Grant Date of SARs Granted and Total Intrinsic Value of SARs Exercised (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 0 | 0 |
Weighted average grant-date fair value per SAR | $ 0 | $ 0 |
Intrinsic value of SARs exercised | $ 306 | $ 413 |
Fair value of vested | $ 1,846 | $ 1,520 |
Stock-Based Compensation - Su93
Stock-Based Compensation - Summary of Nonvested Stock Appreciation Rights (Detail) - Stock Appreciation Rights (SARs) [Member] - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 515 | |
Granted, Shares | 0 | 0 |
Vested, Shares | (241) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 274 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 7.76 | |
Granted, Weighted Average Grant-Date Fair Value | 0 | $ 0 |
Vested, Weighted Average Grant-Date Fair Value | 7.69 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 7.81 |
Stock-Based Compensation - Su94
Stock-Based Compensation - Summary of Nonvested Restricted Shares and Restricted Stock Units (Detail) - Restricted Shares and Restricted Stock Units (RSU's) [Member] - 2011 Equity Incentive Plan [Member] - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 1,136 | |
Granted, Shares | 0 | 0 |
Vested, Shares | (328) | |
Forfeited, Shares | (63) | |
Nonvested Shares, ending balance | 745 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 25.47 | |
Granted, Weighted Average Grant-Date Fair Value | 0 | $ 0 |
Vested, Weighted Average Grant-Date Fair Value | 20.95 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 20.71 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 27.87 |
Stock-Based Compensation - Su95
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 and Restricted Stock Units (RSU's) [Member] - 2011 Equity Incentive Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 0 | 0 |
Weighted average grant-date fair value | $ 0 | $ 0 |
Fair value of vested | $ 6,868 | $ 6,785 |
Stock-Based Compensation - Su96
Stock-Based Compensation - Summary of Nonvested Common Stock Units and Share Awards (Detail) - Common Stock Awards [Member] - Non-Employee Director Fee Plan [Member] - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 10 | |
Granted, Shares | 0 | 2 |
Vested, Shares | (7) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 3 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 28.69 | |
Granted, Weighted Average Grant-Date Fair Value | 0 | $ 28.97 |
Vested, Weighted Average Grant-Date Fair Value | 28.48 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 29.33 |
Stock-Based Compensation - Su97
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) - Common Stock Awards [Member] - Non-Employee Director Fee Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 0 | 2 |
Weighted average grant-date fair value | $ 0 | $ 28.97 |
Fair value of vested | $ 220 | $ 190 |
Stock-Based Compensation - Su98
Stock-Based Compensation - Summary of Nonvested Common Stock (Detail) - Common Stock Awards [Member] - Deferred Compensation Plan [Member] - $ / shares shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Nonvested Shares, beginning balance | 2 | |
Granted, Shares | 7 | 4 |
Vested, Shares | (6) | |
Forfeited, Shares | 0 | |
Nonvested Shares, ending balance | 3 | |
Nonvested, Weighted Average Grant-Date Fair Value, beginning balance | $ 22.77 | |
Granted, Weighted Average Grant-Date Fair Value | 29.40 | $ 30.18 |
Vested, Weighted Average Grant-Date Fair Value | 29.40 | |
Forfeited or expired, Weighted Average Grant-Date Fair Value | 0 | |
Nonvested, Weighted Average Grant-Date Fair Value, ending balance | $ 25.64 |
Stock-Based Compensation - Su99
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 Awards [Member] - Deferred Compensation Plan [Member] - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Granted, Shares | 7 | 4 |
Weighted average grant-date fair value | $ 29.40 | $ 30.18 |
Fair value of vested | $ 162 | $ 122 |
Cash used to settle the obligation | $ 9 | $ 359 |
Segments and Geographic Info100
Segments and Geographic Information - Additional Information (Detail) | 3 Months Ended |
Mar. 31, 2017SegmentRegion | |
Segment Reporting [Abstract] | |
Number of operating regions | Region | 2 |
Number of reportable segments | Segment | 2 |
Segments and Geographic Info101
Segments and Geographic Information - Company's Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Segment Reporting Information [Line Items] | ||
Revenues | $ 384,014 | $ 320,746 |
Percentage of revenues | 100.00% | 100.00% |
Depreciation, net | $ 13,348 | $ 10,784 |
Amortization of intangibles | 5,231 | 3,627 |
Income (loss) from operations | 26,014 | 20,270 |
Total other income (expense), net | (692) | (102) |
Income taxes | (6,610) | (6,214) |
Net income | 18,712 | 13,954 |
Americas [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 320,931 | $ 262,076 |
Percentage of revenues | 83.60% | 81.70% |
Depreciation, net | $ 11,468 | $ 9,176 |
Amortization of intangibles | 4,978 | 3,368 |
Income (loss) from operations | 37,933 | 32,987 |
EMEA [Member] | Operating Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 63,067 | $ 58,625 |
Percentage of revenues | 16.40% | 18.30% |
Depreciation, net | $ 1,186 | $ 1,164 |
Amortization of intangibles | 253 | 259 |
Income (loss) from operations | 5,580 | 3,410 |
Other Segments [Member] | ||
Segment Reporting Information [Line Items] | ||
Revenues | $ 16 | $ 45 |
Percentage of revenues | 0.00% | 0.00% |
Depreciation, net | $ 694 | $ 444 |
Income (loss) from operations | (17,499) | (16,127) |
Total other income (expense), net | (692) | (102) |
Income taxes | $ (6,610) | $ (6,214) |
Other Income (Expense) - Schedu
Other Income (Expense) - Schedule of Other Income (Expense), Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Other Income (Expense) [Abstract] | ||
Foreign currency transaction gains (losses) | $ 1,179 | $ 1,346 |
Gains (losses) on foreign currency derivative instruments not designated as hedges | (700) | (739) |
Other miscellaneous income (expense) | 373 | (54) |
Other income (expense) | $ 852 | $ 553 |
Related Party Transactions - Ad
Related Party Transactions - Additional Information (Detail) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | |
Jan. 31, 2008 | Mar. 31, 2017 | Mar. 31, 2016 | |
Related Party Transactions [Abstract] | |||
Duration of lease | 20 years | ||
Payment to landlord under the lease terms | $ 0.1 | $ 0.1 |
Subsequent Event - Additional I
Subsequent Event - Additional Information (Detail) $ in Millions | Apr. 24, 2017USD ($) |
Subsequent Event [Member] | Global 2000 Telecommunications [Member] | |
Subsequent Event [Line Items] | |
Aggregate purchase price | $ 7.5 |