PROPERTY PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2024

PROPERTY PLANT AND EQUIPMENT [ABSTRACT]

Property, Plant and Equipment Disclosure [Text Block]

(5)PROPERTY, PLANT AND EQUIPMENT

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

	December 31,
	2024		2023
Land and buildings	$	—	$	31,972
Computer equipment and software		402,768		428,164
Telephone equipment		40,018		40,955
Furniture and fixtures		57,005		75,338
Leasehold improvements		162,300		175,964
Motor vehicles		26		123
Property, plant and equipment, gross		662,117		752,516
Less: Accumulated depreciation and amortization		(530,066)		(561,513)
Property, plant and equipment, net	$	132,051	$	191,003

Depreciation and amortization expense for property, plant and equipment was $61.2 million, $64.2 million and $64.5 million for the years ended December 31, 2024, 2023 and 2022, respectively.

Included in the computer equipment and software is internally developed software of $54.4 million net and $48.4 million net as of December 31, 2024 and 2023, respectively. During 2024, 2023 and 2022, impairments of internally developed software of $3.7 million, $0.1 million and $6.0 million, respectively, were expensed and included in Impairment losses in the Consolidated Statements of Comprehensive Income (Loss).

On November 5, 2024, TTEC Holdings, Inc., through its wholly-owned subsidiary, TTEC Services Corporation, entered into a definitive agreement to sell and subsequently closed the sale of a real estate asset in Englewood, Colorado for $45.5 million, subject to certain customary adjustments. The Company recorded a pre-tax gain of approximately $15.5 million upon close of the transaction in the fourth quarter of 2024 in other income (expense), net within the Consolidated Statements of Comprehensive Income (Loss). The Company utilized the proceeds from the sale to reduce its outstanding balance under its revolving line of credit.