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DERIVATIVES (TABLES)
12 Months Ended
Dec. 31, 2016
DERIVATIVES [ABSTRACT]  
Schedule of Cash Flow Hedges OCI Rollforward

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

 

2016

    

2015

    

2014

 

 

 

 

 

 

 

 

 

 

 

 

 

Aggregate unrealized net gain/(loss) at beginning of period

 

 

$

(26,885)

 

$

(18,345)

 

$

(8,352)

 

Add: Net gain/(loss) from change in fair value of cash flow hedges

 

 

 

11,242

 

 

(16,349)

 

 

(12,121)

 

Less: Net (gain)/loss reclassified to earnings from effective hedges

 

 

 

(16,750)

 

 

7,809

 

 

2,128

 

Aggregate unrealized net gain/(loss) at end of period

 

 

$

(32,393)

 

$

(26,885)

 

$

(18,345)

 

 

Schedule of Notional Amounts of Outstanding Cash Flow Hedges

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Local

    

 

 

    

 

 

    

 

 

 

 

 

Currency

 

U.S. Dollar

 

 

% Maturing

 

 

Contracts

 

 

 

Notional

 

Notional

 

 

in the next

 

 

Maturing

 

As of December 31, 2016

 

Amount

 

Amount

 

 

12 months

 

 

Through

 

Philippine Peso

 

14,315,000

 

 

301,134

(1)  

 

42.3

%  

 

August 2021

 

Mexican Peso

 

2,089,000

 

 

129,375

 

 

23.7

%  

 

May 2021

 

 

 

 

 

$

430,509

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Local

    

 

 

    

 

 

    

 

 

 

 

 

Currency

 

U.S. Dollar

 

 

 

 

 

     

 

 

 

Notional

 

Notional

 

 

      

 

 

 

 

As of December 31, 2015

 

Amount

 

Amount

 

 

 

 

 

 

 

Philippine Peso

 

16,362,000

 

 

361,571

(1)  

 

 

 

 

 

 

Mexican Peso

 

2,637,000

 

 

173,124

 

 

 

 

 

 

 

 

 

 

 

$

534,695

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


(1)

Includes contracts to purchase Philippine pesos in exchange for New Zealand dollars and Australian dollars, which are translated into equivalent U.S. dollars on December 31, 2016 and December 31, 2015.

Schedule of Interest Rate Swaps

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

 

    

 

    

Contract

    

Contract

 

 

 

Notional

 

Variable Rate

 

Fixed Rate

 

Commencement

 

Maturity

 

As of December 31, 2016:

 

Amount

 

Received

 

Paid

 

Date

 

Date

 

Swap 2

 

$

15 million

 

1 - month LIBOR

 

3.14

%  

May 2012

 

May 2017

 

 

 

$

15 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2015:

 

 

 

 

 

 

 

 

 

 

 

 

Swap 1

 

$

25 million

 

1 - month LIBOR

 

2.55

%  

April 2012

 

April 2016

 

Swap 2

 

 

15 million

 

1 - month LIBOR

 

3.14

%  

May 2012

 

May 2017

 

 

 

$

40 million

 

 

 

 

 

 

 

 

 

 

Schedule of Derivatives Instruments on Balance Sheet

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2016

 

 

 

Designated

 

Not Designated

 

 

 

as Hedging

 

as Hedging

 

Designation:

 

Instruments

 

Instruments

 

 

    

Foreign

    

Interest

    

Foreign

 

Derivative contract type:

 

Exchange

 

Rate

 

Exchange

 

Derivative classification:

 

Cash Flow

 

Cash Flow

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

Fair value and location of derivative in the Consolidated Balance Sheet:

 

 

 

 

 

 

 

 

 

 

Prepaids and other current assets

 

$

1,178

 

$

 —

 

$

1,606

 

Other long-term assets

 

 

 —

 

 

 —

 

 

 —

 

Other current liabilities

 

 

(23,503)

 

 

(147)

 

 

(866)

 

Other long-term liabilities

 

 

(31,714)

 

 

 —

 

 

 —

 

Total fair value of derivatives, net

 

$

(54,039)

 

$

(147)

 

$

740

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2015

 

 

 

Designated

 

Not Designated

 

 

 

as Hedging

 

as Hedging

 

Designation:

 

Instruments

 

Instruments

 

 

    

Foreign

    

Interest

    

Foreign

 

Derivative contract type:

 

Exchange

 

Rate

 

Exchange

 

Derivative classification:

 

Cash Flow

 

Cash Flow

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

Fair value and location of derivative in the Consolidated Balance Sheet:

 

 

 

 

 

 

 

 

 

 

Prepaids and other current assets

 

$

39

 

$

 

$

2,489

 

Other long-term assets

 

 

66

 

 

 

 

 

Other current liabilities

 

 

(20,088)

 

 

(549)

 

 

(116)

 

Other long-term liabilities

 

 

(25,739)

 

 

(102)

 

 

 

Total fair value of derivatives, net

 

$

(45,722)

 

$

(651)

 

$

2,373

 

 

Schedule of Derivative Impact on Statement of Comprehensive Income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

2015

 

 

 

Designated as Hedging

 

Designated as Hedging

 

Designation:

 

Instruments

 

Instruments

 

 

    

Foreign

    

Interest

    

Foreign

    

Interest

 

Derivative contract type:

 

Exchange

 

Rate

 

Exchange

 

Rate

 

Derivative classification:

 

Cash Flow

 

Cash Flow

 

Cash Flow

 

Cash Flow

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount of gain or (loss) recognized in Other comprehensive income (loss) - effective portion, net of tax

 

$

(16,438)

 

$

(312)

 

$

(7,198)

 

$

(611)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount and location of net gain or (loss) reclassified from Accumulated OCI to income - effective portion:

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$

(28,025)

 

$

 

$

(12,410)

 

$

 

Interest expense

 

 

 

 

(534)

 

 

 

 

(1,053)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year Ended December 31,

 

 

 

2016

 

2015

 

Designation:

 

Not Designated as Hedging Instruments

 

Not Designated as Hedging Instruments

 

Derivative contract type:

 

Foreign Exchange

 

Foreign Exchange

 

 

 

Forward

 

 

 

Forward

 

 

 

Derivative classification:

 

Contracts

 

Fair Value

 

Contracts

 

Fair Value

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amount and location of net gain or (loss) recognized in the Consolidated Statement of Comprehensive Income (Loss):

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of services

 

$

 —

 

$

 —

 

$

 

$

 

Other income (expense), net

 

 

 —

 

 

(5,826)

 

 

 

 

(6,127)