Company Quick10K Filing
Quick10K
Sykes Enterprises
Closing Price ($) Shares Out (MM) Market Cap ($MM)
$26.23 43 $1,120
10-Q 2019-03-31 Quarter: 2019-03-31
10-K 2018-12-31 Annual: 2018-12-31
10-Q 2018-09-30 Quarter: 2018-09-30
10-Q 2018-06-30 Quarter: 2018-06-30
10-Q 2018-03-31 Quarter: 2018-03-31
10-K 2017-12-31 Annual: 2017-12-31
10-Q 2017-09-30 Quarter: 2017-09-30
10-Q 2017-06-30 Quarter: 2017-06-30
10-Q 2017-03-31 Quarter: 2017-03-31
10-K 2016-12-31 Annual: 2016-12-31
10-Q 2016-09-30 Quarter: 2016-09-30
10-Q 2016-06-30 Quarter: 2016-06-30
10-Q 2016-03-31 Quarter: 2016-03-31
10-K 2015-12-31 Annual: 2015-12-31
10-Q 2015-09-30 Quarter: 2015-09-30
10-Q 2015-06-30 Quarter: 2015-06-30
10-Q 2015-03-31 Quarter: 2015-03-31
10-K 2014-12-31 Annual: 2014-12-31
10-Q 2014-09-30 Quarter: 2014-09-30
10-Q 2014-06-30 Quarter: 2014-06-30
10-Q 2014-03-31 Quarter: 2014-03-31
10-K 2013-12-31 Annual: 2013-12-31
8-K 2019-05-20 Shareholder Vote
8-K 2019-05-06 Earnings, Exhibits
8-K 2019-02-25 Earnings, Exhibits
8-K 2019-02-14 Enter Agreement, Leave Agreement, Exhibits
8-K 2018-11-05 Earnings, Exhibits
8-K 2018-10-22 Other Events, Exhibits
8-K 2018-08-06 Earnings, Exhibits
8-K 2018-05-22 Shareholder Vote
8-K 2018-05-07 Earnings, Exhibits
8-K 2018-02-26 Earnings, Exhibits
IONS Ionis Pharmaceuticals 9,410
NNN National Retail Properties 8,520
LTM Life Time Fitness 5,850
SPTN Spartannash 577
UONE Urban One 86
CPHC Canterbury Park Holding 65
SAEX Saexploration Holdings 13
CTIB CTI Industries 12
YBAO YBCC 0
ETAH Eternity Healthcare 0
SYKE 2019-03-31
Part I. Financial Information
Item 1. Financial Statements
Note 1. Overview and Basis of Presentation
Note 2. Revenues
Note 3. Leases
Note 4. Costs Associated with Exit or Disposal Activities
Note 5. Fair Value
Note 6. Goodwill and Intangible Assets
Note 7. Financial Derivatives
Note 8. Investments Held in Rabbi Trust
Note 9. Borrowings
Note 10. Accumulated Other Comprehensive Income (Loss)
Note 11. Income Taxes
Note 12. Earnings per Share
Note 13. Commitments and Loss Contingency
Note 14. Defined Benefit Pension Plan and Postretirement Benefits
Note 15. Stock-Based Compensation
Note 16. Segments and Geographic Information
Note 17. Other Income (Expense)
Note 18. Related Party Transactions
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II. Other Information
Item 1. Legal Proceedings
Item 1A. Risk Factors
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
Item 3. Defaults Upon Senior Securities
Item 4. Mine Safety Disclosures
Item 5. Other Information
Item 6. Exhibits
EX-15 syke-ex15_6.htm
EX-31.1 syke-ex311_8.htm
EX-31.2 syke-ex312_10.htm
EX-32.1 syke-ex321_7.htm
EX-32.2 syke-ex322_9.htm

Sykes Enterprises Earnings 2019-03-31

SYKE 10Q Quarterly Report

Balance SheetIncome StatementCash Flow

syke-10q_20190331.htm
false Q1 SYKE SYKES ENTERPRISES INC 0001010612 --12-31 Large Accelerated Filer false false P3Y P2Y P1Y P3Y P3Y 2021-06-30 P5Y P10Y P8Y P3Y P2Y P4Y P5Y P10Y P8Y P3Y P2Y P4Y P5Y 2019-12-31 2019-12-31 2019-09-30 2019-09-30 2019-12-31 2019-12-31 2021-11-30 2021-11-30 2030-04-30 0001010612 2019-01-01 2019-03-31 xbrli:shares 0001010612 2019-04-18 iso4217:USD 0001010612 2019-03-31 0001010612 2018-12-31 iso4217:USD xbrli:shares 0001010612 2018-01-01 2018-03-31 0001010612 us-gaap:CommonStockMember 2018-12-31 0001010612 us-gaap:AdditionalPaidInCapitalMember 2018-12-31 0001010612 us-gaap:RetainedEarningsMember 2018-12-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-12-31 0001010612 us-gaap:TreasuryStockMember 2018-12-31 0001010612 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201602Member 2019-03-31 0001010612 us-gaap:AccountingStandardsUpdate201602Member 2019-03-31 0001010612 us-gaap:AdditionalPaidInCapitalMember 2019-01-01 2019-03-31 0001010612 us-gaap:CommonStockMember 2019-01-01 2019-03-31 0001010612 us-gaap:TreasuryStockMember 2019-01-01 2019-03-31 0001010612 us-gaap:RetainedEarningsMember 2019-01-01 2019-03-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001010612 us-gaap:CommonStockMember 2019-03-31 0001010612 us-gaap:AdditionalPaidInCapitalMember 2019-03-31 0001010612 us-gaap:RetainedEarningsMember 2019-03-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2019-03-31 0001010612 us-gaap:TreasuryStockMember 2019-03-31 0001010612 us-gaap:CommonStockMember 2017-12-31 0001010612 us-gaap:AdditionalPaidInCapitalMember 2017-12-31 0001010612 us-gaap:RetainedEarningsMember 2017-12-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2017-12-31 0001010612 us-gaap:TreasuryStockMember 2017-12-31 0001010612 2017-12-31 0001010612 us-gaap:RetainedEarningsMember us-gaap:AccountingStandardsUpdate201409Member 2018-03-31 0001010612 us-gaap:AccountingStandardsUpdate201409Member 2018-03-31 0001010612 us-gaap:AdditionalPaidInCapitalMember 2018-01-01 2018-03-31 0001010612 us-gaap:CommonStockMember 2018-01-01 2018-03-31 0001010612 us-gaap:TreasuryStockMember 2018-01-01 2018-03-31 0001010612 us-gaap:RetainedEarningsMember 2018-01-01 2018-03-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001010612 us-gaap:CommonStockMember 2018-03-31 0001010612 us-gaap:AdditionalPaidInCapitalMember 2018-03-31 0001010612 us-gaap:RetainedEarningsMember 2018-03-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-03-31 0001010612 us-gaap:TreasuryStockMember 2018-03-31 0001010612 2018-03-31 syke:Segment xbrli:pure 0001010612 syke:USFederalRatePriorToThe2017TaxReformActMember 2017-01-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember 2018-01-01 2018-12-31 0001010612 syke:SymphonyVenturesLimitedMember 2018-10-17 2018-10-18 iso4217:GBP 0001010612 syke:SymphonyVenturesLimitedMember 2018-11-01 2018-11-01 0001010612 syke:SymphonyVenturesLimitedMember us-gaap:RevolvingCreditFacilityMember 2018-11-01 2018-11-01 0001010612 syke:SymphonyVenturesLimitedMember 2019-01-01 2019-03-31 0001010612 syke:SymphonyVenturesLimitedMember syke:CustomerRelationshipsAndTradeNamesMember 2018-11-01 0001010612 syke:SymphonyVenturesLimitedMember 2018-11-01 0001010612 syke:SymphonyVenturesLimitedMember 2019-03-31 iso4217:AUD 0001010612 syke:WhistleOutMember 2018-07-09 2018-07-09 0001010612 syke:WhistleOutMember 2018-07-09 0001010612 syke:WhistleOutMember 2019-01-01 2019-03-31 0001010612 syke:WhistleOutMember us-gaap:RevolvingCreditFacilityMember 2018-07-09 2018-07-09 0001010612 us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:OtherCurrentAssetsMember 2018-03-31 0001010612 us-gaap:OtherCurrentAssetsMember 2017-12-31 0001010612 us-gaap:OtherNoncurrentAssetsMember 2019-03-31 0001010612 us-gaap:OtherNoncurrentAssetsMember 2018-12-31 0001010612 us-gaap:OtherNoncurrentAssetsMember 2018-03-31 0001010612 us-gaap:OtherNoncurrentAssetsMember 2017-12-31 0001010612 syke:XSellTechnologiesIncMember us-gaap:OtherNoncurrentAssetsMember 2017-07-31 0001010612 syke:XSellTechnologiesIncMember 2017-07-31 0001010612 syke:XSellTechnologiesIncMember us-gaap:OtherNoncurrentAssetsMember 2019-03-31 0001010612 syke:XSellTechnologiesIncMember us-gaap:OtherNoncurrentAssetsMember 2018-12-31 0001010612 syke:XSellTechnologiesIncMember 2017-07-01 2017-07-31 0001010612 syke:XSellTechnologiesIncMember 2018-08-01 2018-08-31 0001010612 syke:XSellTechnologiesIncMember us-gaap:OtherNonoperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001010612 syke:XSellTechnologiesIncMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001010612 us-gaap:CostOfSalesMember 2019-01-01 2019-03-31 0001010612 us-gaap:CostOfSalesMember 2018-01-01 2018-03-31 0001010612 us-gaap:GeneralAndAdministrativeExpenseMember 2019-01-01 2019-03-31 0001010612 us-gaap:GeneralAndAdministrativeExpenseMember 2018-01-01 2018-03-31 0001010612 us-gaap:AccountingStandardsUpdate201409Member us-gaap:RetainedEarningsMember 2018-01-01 0001010612 syke:CustomerEngagementSolutionsAndServicesMember 2019-01-01 2019-03-31 0001010612 syke:OtherRevenuesMember 2019-01-01 2019-03-31 0001010612 syke:OtherRevenuesMember 2018-01-01 2018-03-31 0001010612 syke:AmericasSegmentMember syke:CustomerEngagementSolutionsAndServicesMember 2019-01-01 2019-03-31 0001010612 syke:AmericasSegmentMember syke:CustomerEngagementSolutionsAndServicesMember 2018-01-01 2018-03-31 0001010612 syke:AmericasSegmentMember syke:OtherRevenuesMember 2019-01-01 2019-03-31 0001010612 syke:AmericasSegmentMember syke:OtherRevenuesMember 2018-01-01 2018-03-31 0001010612 syke:AmericasSegmentMember 2019-01-01 2019-03-31 0001010612 syke:AmericasSegmentMember 2018-01-01 2018-03-31 0001010612 syke:EMEASegmentMember syke:CustomerEngagementSolutionsAndServicesMember 2019-01-01 2019-03-31 0001010612 syke:EMEASegmentMember syke:CustomerEngagementSolutionsAndServicesMember 2018-01-01 2018-03-31 0001010612 syke:EMEASegmentMember syke:OtherRevenuesMember 2019-01-01 2019-03-31 0001010612 syke:EMEASegmentMember syke:OtherRevenuesMember 2018-01-01 2018-03-31 0001010612 syke:EMEASegmentMember 2019-01-01 2019-03-31 0001010612 syke:EMEASegmentMember 2018-01-01 2018-03-31 0001010612 syke:OtherSegmentMember syke:OtherRevenuesMember 2019-01-01 2019-03-31 0001010612 syke:OtherSegmentMember syke:OtherRevenuesMember 2018-01-01 2018-03-31 0001010612 syke:OtherSegmentMember 2019-01-01 2019-03-31 0001010612 syke:OtherSegmentMember 2018-01-01 2018-03-31 0001010612 syke:ReceivablesNetCurrentMember 2019-03-31 0001010612 syke:ReceivablesNetCurrentMember 2018-12-31 0001010612 syke:DeferredRevenueAndCustomerLiabilitiesMember 2019-03-31 0001010612 syke:DeferredRevenueAndCustomerLiabilitiesMember 2018-12-31 0001010612 us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 0001010612 us-gaap:AccountingStandardsUpdate201602Member us-gaap:RetainedEarningsMember 2019-01-01 0001010612 srt:MinimumMember 2019-03-31 0001010612 srt:MaximumMember 2019-03-31 0001010612 srt:MinimumMember 2019-01-01 2019-03-31 0001010612 srt:MaximumMember 2019-01-01 2019-03-31 0001010612 syke:DirectSalariesAndRelatedCostsMember 2019-01-01 2019-03-31 0001010612 syke:CustomerEngagementCentersMember 2019-03-31 0001010612 syke:CustomerEngagementCentersMember 2019-01-01 2019-03-31 syke:Seat 0001010612 syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 us-gaap:FacilityClosingMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:CostOfSalesMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 syke:NonCashImpairmentChargesMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:FacilityClosingMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:CostOfSalesMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 syke:NonCashImpairmentChargesMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 syke:OtherNonCashChargesMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 syke:AmericasSegmentMember 2019-03-31 0001010612 us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 us-gaap:FacilityClosingMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandEighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandEighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandEighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2018-12-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:CostOfSalesMember syke:TwoThousandNighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember us-gaap:GeneralAndAdministrativeExpenseMember syke:TwoThousandNighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-01-01 2019-03-31 0001010612 us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 us-gaap:AccountsPayableAndAccruedLiabilitiesMember us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 us-gaap:OtherCurrentLiabilitiesMember us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:OtherCurrentLiabilitiesMember us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:OtherNoncurrentLiabilitiesMember us-gaap:FacilityClosingMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 syke:EmployeeRelatedLiabilitiesCurrentMember us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 syke:EmployeeRelatedLiabilitiesCurrentMember us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 us-gaap:OtherCurrentLiabilitiesMember us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2019-03-31 0001010612 us-gaap:OtherCurrentLiabilitiesMember us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandEighteenExitPlanMember 2018-12-31 0001010612 syke:EmployeeRelatedLiabilitiesCurrentMember us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 us-gaap:OtherCurrentLiabilitiesMember us-gaap:EmployeeSeveranceMember syke:AmericasSegmentMember syke:TwoThousandNighteenExitPlanMember 2019-03-31 0001010612 us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel1Member us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel2Member us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel3Member us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2019-03-31 0001010612 syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel1Member syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel2Member syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel3Member syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel1Member syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel2Member syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel3Member syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel1Member 2019-03-31 0001010612 us-gaap:FairValueInputsLevel2Member 2019-03-31 0001010612 us-gaap:FairValueInputsLevel3Member 2019-03-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel1Member us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel2Member us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2019-03-31 0001010612 us-gaap:FairValueInputsLevel3Member us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2019-03-31 0001010612 us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member us-gaap:ForeignExchangeContractMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 syke:EmbeddedDerivativesMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member syke:EmbeddedDerivativesMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member syke:EmbeddedDerivativesMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member syke:EmbeddedDerivativesMember syke:OtherCurrentAssetsDeferredChargesAndOtherAssetsMember 2018-12-31 0001010612 syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member syke:EquityInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member syke:DebtInvestmentsHeldInRabbiTrustForDeferredCompensationPlanMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member 2018-12-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member us-gaap:ForeignExchangeContractMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 syke:EmbeddedDerivativesMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel1Member syke:EmbeddedDerivativesMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel2Member syke:EmbeddedDerivativesMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 us-gaap:FairValueInputsLevel3Member syke:EmbeddedDerivativesMember us-gaap:OtherLiabilitiesMember 2018-12-31 0001010612 syke:EmbeddedDerivativesMember 2018-12-31 0001010612 syke:EmbeddedDerivativesMember 2017-12-31 0001010612 syke:EmbeddedDerivativesMember us-gaap:AccountingStandardsUpdate201602Member 2019-01-01 2019-03-31 0001010612 syke:EmbeddedDerivativesMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001010612 syke:EmbeddedDerivativesMember 2018-01-01 2018-03-31 0001010612 syke:EmbeddedDerivativesMember 2018-03-31 0001010612 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:PropertyPlantAndEquipmentMember syke:AmericasSegmentMember 2019-01-01 2019-03-31 0001010612 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:PropertyPlantAndEquipmentMember syke:AmericasSegmentMember 2018-01-01 2018-03-31 0001010612 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member syke:AmericasSegmentMember 2019-01-01 2019-03-31 0001010612 syke:CostumerContactManagementCenterMember syke:UnitedStatesAndCanadaMember syke:AmericasSegmentMember 2019-01-01 2019-03-31 0001010612 syke:CostumerContactManagementCenterMember syke:UnitedStatesAndCanadaMember syke:AmericasSegmentMember 2018-01-01 2018-03-31 0001010612 us-gaap:CustomerRelationshipsMember 2019-03-31 0001010612 us-gaap:TrademarksAndTradeNamesMember 2019-03-31 0001010612 us-gaap:NoncompeteAgreementsMember 2019-03-31 0001010612 syke:ContentLibraryMember 2019-03-31 0001010612 syke:ProprietarySoftwareMember 2019-03-31 0001010612 syke:DomainNamesNotSubjectToAmortizationMember 2019-03-31 0001010612 us-gaap:CustomerRelationshipsMember 2019-01-01 2019-03-31 0001010612 us-gaap:TrademarksAndTradeNamesMember 2019-01-01 2019-03-31 0001010612 us-gaap:NoncompeteAgreementsMember 2019-01-01 2019-03-31 0001010612 syke:ContentLibraryMember 2019-01-01 2019-03-31 0001010612 syke:ProprietarySoftwareMember 2019-01-01 2019-03-31 0001010612 us-gaap:CustomerRelationshipsMember 2018-12-31 0001010612 us-gaap:TrademarksAndTradeNamesMember 2018-12-31 0001010612 us-gaap:NoncompeteAgreementsMember 2018-12-31 0001010612 syke:ContentLibraryMember 2018-12-31 0001010612 syke:ProprietarySoftwareMember 2018-12-31 0001010612 syke:DomainNamesNotSubjectToAmortizationMember 2018-12-31 0001010612 us-gaap:CustomerRelationshipsMember 2018-01-01 2018-12-31 0001010612 us-gaap:TrademarksAndTradeNamesMember 2018-01-01 2018-12-31 0001010612 us-gaap:NoncompeteAgreementsMember 2018-01-01 2018-12-31 0001010612 syke:ContentLibraryMember 2018-01-01 2018-12-31 0001010612 syke:ProprietarySoftwareMember 2018-01-01 2018-12-31 0001010612 2018-01-01 2018-12-31 0001010612 syke:AmericasSegmentMember 2018-12-31 0001010612 syke:EMEASegmentMember 2018-12-31 0001010612 syke:EMEASegmentMember 2019-03-31 0001010612 syke:AmericasSegmentMember 2017-12-31 0001010612 syke:EMEASegmentMember 2017-12-31 0001010612 syke:AmericasSegmentMember 2018-01-01 2018-12-31 0001010612 syke:EMEASegmentMember 2018-01-01 2018-12-31 syke:Reporting_Unit 0001010612 syke:QelpMember 2019-01-01 2019-03-31 0001010612 syke:QelpMember 2019-03-31 0001010612 syke:ClearlinkMember 2019-01-01 2019-03-31 0001010612 syke:ClearlinkMember 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:OptionMember currency:PHP 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:PHP 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:CRC 2019-03-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForwardContractsMember 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:OptionMember currency:PHP 2019-01-01 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:PHP 2019-01-01 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:CRC 2019-01-01 2019-03-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForwardContractsMember 2019-01-01 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:OptionMember currency:PHP 2018-12-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:PHP 2018-12-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:CRC 2018-12-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForwardContractsMember 2018-12-31 0001010612 us-gaap:NondesignatedMember syke:EmbeddedDerivativesMember 2018-12-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:OptionMember currency:PHP 2018-01-01 2018-12-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:PHP 2018-01-01 2018-12-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForwardContractsMember currency:CRC 2018-01-01 2018-12-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForwardContractsMember 2018-01-01 2018-12-31 0001010612 us-gaap:NondesignatedMember syke:EmbeddedDerivativesMember 2018-01-01 2018-12-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherNoncurrentAssetsMember 2019-03-31 0001010612 us-gaap:NondesignatedMember syke:EmbeddedDerivativesMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentLiabilitiesMember 2019-03-31 0001010612 us-gaap:CashFlowHedgingMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentLiabilitiesMember 2018-12-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentLiabilitiesMember 2019-03-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherCurrentLiabilitiesMember 2018-12-31 0001010612 us-gaap:NondesignatedMember us-gaap:ForeignExchangeContractMember us-gaap:OtherNoncurrentLiabilitiesMember 2018-12-31 0001010612 us-gaap:NondesignatedMember syke:EmbeddedDerivativesMember us-gaap:OtherCurrentLiabilitiesMember 2018-12-31 0001010612 us-gaap:NondesignatedMember syke:EmbeddedDerivativesMember us-gaap:OtherNoncurrentLiabilitiesMember 2018-12-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:CashFlowHedgingMember 2018-01-01 2018-03-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember us-gaap:CashFlowHedgingMember 2019-01-01 2019-03-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:DesignatedAsHedgingInstrumentMember us-gaap:SalesMember us-gaap:CashFlowHedgingMember 2018-01-01 2018-03-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001010612 us-gaap:ForeignExchangeContractMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001010612 syke:EmbeddedDerivativesMember us-gaap:NondesignatedMember us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001010612 us-gaap:MutualFundMember 2019-03-31 0001010612 us-gaap:MutualFundMember us-gaap:OtherCurrentAssetsMember 2019-03-31 0001010612 us-gaap:MutualFundMember 2018-12-31 0001010612 us-gaap:MutualFundMember us-gaap:OtherCurrentAssetsMember 2018-12-31 0001010612 us-gaap:EquitySecuritiesMember 2019-03-31 0001010612 us-gaap:DebtSecuritiesMember 2019-03-31 0001010612 us-gaap:OtherNonoperatingIncomeExpenseMember 2019-01-01 2019-03-31 0001010612 us-gaap:OtherNonoperatingIncomeExpenseMember 2018-01-01 2018-03-31 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandNineteenCreditAgreementMember 2019-02-14 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandFifteenCreditAgreementMember 2015-05-12 0001010612 syke:AlternateCurrencySubFacilityMember syke:TwoThousandNineteenCreditAgreementMember 2019-02-14 0001010612 syke:SwinglineSubFacilityMember syke:TwoThousandNineteenCreditAgreementMember 2019-02-14 0001010612 us-gaap:LetterOfCreditMember syke:TwoThousandNineteenCreditAgreementMember 2019-02-14 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandNineteenCreditAgreementMember 2019-01-01 2019-03-31 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandNineteenCreditAgreementMember 2019-03-31 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandFifteenCreditAgreementMember 2018-12-31 0001010612 us-gaap:RevolvingCreditFacilityMember syke:NonvotingCommonStockDirectForeignSubsidiariesMember syke:TwoThousandNineteenCreditAgreementMember 2019-03-31 0001010612 us-gaap:RevolvingCreditFacilityMember syke:VotingCommonStockDirectForeignSubsidiariesMember syke:TwoThousandNineteenCreditAgreementMember 2019-03-31 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandFifteenCreditAgreementMember 2019-02-14 0001010612 us-gaap:RevolvingCreditFacilityMember syke:TwoThousandFifteenCreditAgreementMember 2018-01-01 2018-01-31 0001010612 us-gaap:AccumulatedTranslationAdjustmentMember 2017-12-31 0001010612 syke:AccumulatedNetGainLossFromDesignatedOrQualifyingNetInvestmentHedgesMember 2017-12-31 0001010612 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2017-12-31 0001010612 syke:UnrealizedActuarialGainLossRelatedToPensionLiabilityMember 2017-12-31 0001010612 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2017-12-31 0001010612 us-gaap:AccumulatedTranslationAdjustmentMember 2018-01-01 2018-12-31 0001010612 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-01-01 2018-12-31 0001010612 syke:UnrealizedActuarialGainLossRelatedToPensionLiabilityMember 2018-01-01 2018-12-31 0001010612 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-12-31 0001010612 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-01-01 2018-12-31 0001010612 us-gaap:AccumulatedTranslationAdjustmentMember 2018-12-31 0001010612 syke:AccumulatedNetGainLossFromDesignatedOrQualifyingNetInvestmentHedgesMember 2018-12-31 0001010612 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2018-12-31 0001010612 syke:UnrealizedActuarialGainLossRelatedToPensionLiabilityMember 2018-12-31 0001010612 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2018-12-31 0001010612 us-gaap:AccumulatedTranslationAdjustmentMember 2019-01-01 2019-03-31 0001010612 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-01-01 2019-03-31 0001010612 syke:UnrealizedActuarialGainLossRelatedToPensionLiabilityMember 2019-01-01 2019-03-31 0001010612 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-01-01 2019-03-31 0001010612 us-gaap:AccumulatedTranslationAdjustmentMember 2019-03-31 0001010612 syke:AccumulatedNetGainLossFromDesignatedOrQualifyingNetInvestmentHedgesMember 2019-03-31 0001010612 us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember 2019-03-31 0001010612 syke:UnrealizedActuarialGainLossRelatedToPensionLiabilityMember 2019-03-31 0001010612 us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember 2019-03-31 0001010612 us-gaap:SalesMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:GainLossOnCashFlowHedgingInstrumentsMember 2019-01-01 2019-03-31 0001010612 us-gaap:SalesMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:GainLossOnCashFlowHedgingInstrumentsMember 2018-01-01 2018-03-31 0001010612 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:GainLossOnCashFlowHedgingInstrumentsMember 2019-01-01 2019-03-31 0001010612 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:GainLossOnCashFlowHedgingInstrumentsMember 2018-01-01 2018-03-31 0001010612 us-gaap:OtherNonoperatingIncomeExpenseMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:ActuarialGainLossRelatedToPensionLiabilityMember 2019-01-01 2019-03-31 0001010612 us-gaap:OtherNonoperatingIncomeExpenseMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:ActuarialGainLossRelatedToPensionLiabilityMember 2018-01-01 2018-03-31 0001010612 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:ActuarialGainLossRelatedToPensionLiabilityMember 2019-01-01 2019-03-31 0001010612 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:ActuarialGainLossRelatedToPensionLiabilityMember 2018-01-01 2018-03-31 0001010612 us-gaap:OtherNonoperatingIncomeExpenseMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:GainLossOnPostRetirementObligationMember 2019-01-01 2019-03-31 0001010612 us-gaap:OtherNonoperatingIncomeExpenseMember us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember syke:GainLossOnPostRetirementObligationMember 2018-01-01 2018-03-31 0001010612 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2019-01-01 2019-03-31 0001010612 us-gaap:ReclassificationOutOfAccumulatedOtherComprehensiveIncomeMember 2018-01-01 2018-03-31 0001010612 2017-01-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember 2017-10-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember 2017-01-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember syke:OneTimeTransitionTaxOnMandatoryDeemedRepatriationOfForeignEarningsMember 2017-10-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember syke:OneTimeTransitionTaxOnMandatoryDeemedRepatriationOfForeignEarningsMember 2017-01-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember syke:ForeignWithholdingTaxesOnCertainAnticipatedDistributionsMember 2017-10-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember syke:ForeignWithholdingTaxesOnCertainAnticipatedDistributionsMember 2017-01-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember syke:RemeasurementOfCertainDeferredTaxAssetsAndLiabilitiesMember 2017-10-01 2017-12-31 0001010612 syke:USTwoThousandSeventeenTaxReformActMember syke:RemeasurementOfCertainDeferredTaxAssetsAndLiabilitiesMember 2017-01-01 2017-12-31 0001010612 syke:ShareRepurchaseProgramTwoThousandElevenMember 2016-03-16 0001010612 syke:ShareRepurchaseProgramTwoThousandElevenMember 2011-08-18 0001010612 syke:ShareRepurchaseProgramTwoThousandElevenMember 2011-09-01 2019-03-31 0001010612 syke:ShareRepurchaseProgramTwoThousandElevenMember 2019-01-01 2019-03-31 0001010612 syke:ShareRepurchaseProgramTwoThousandElevenMember 2018-01-01 2018-03-31 0001010612 syke:SplitDollarLifeInsuranceArrangementMember 2019-03-31 0001010612 syke:SplitDollarLifeInsuranceArrangementMember 2018-12-31 0001010612 syke:IncomeTaxesMember 2019-01-01 2019-03-31 0001010612 syke:IncomeTaxesMember 2018-01-01 2018-03-31 0001010612 syke:PerformanceBasedRestrictedSharesMember syke:TwoThousandElevenEquityIncentivePlanMember 2019-01-01 2019-03-31 0001010612 syke:EmploymentBasedRestrictedStockUnitsMember syke:TwoThousandElevenEquityIncentivePlanMember 2019-01-01 2019-03-31 syke:Region 0001010612 syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:US syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:US syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:PH syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:PH syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:CR syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:CR syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:CA syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:CA syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:SV syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:SV syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:CN syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:CN syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:AU syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:AU syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:MX syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:MX syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 syke:OtherMember syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 syke:OtherMember syke:AmericasSegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:DE syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:DE syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:GB syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:GB syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:SE syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:SE syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 country:RO syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 country:RO syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 syke:OtherMember syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2019-01-01 2019-03-31 0001010612 syke:OtherMember syke:EMEASegmentMember us-gaap:OperatingSegmentsMember 2018-01-01 2018-03-31 0001010612 2008-01-01 2008-01-31 0001010612 us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember 2019-01-01 2019-03-31 0001010612 us-gaap:ImmediateFamilyMemberOfManagementOrPrincipalOwnerMember 2018-01-01 2018-03-31 0001010612 us-gaap:EquityMethodInvesteeMember syke:XSellTechnologiesIncMember srt:MaximumMember 2019-01-01 2019-03-31 0001010612 us-gaap:EquityMethodInvesteeMember syke:XSellTechnologiesIncMember 2018-01-01 2018-03-31 0001010612 us-gaap:EquityMethodInvesteeMember syke:XSellTechnologiesIncMember 2019-01-01 2019-03-31

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q

 

Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the quarterly period ended March 31, 2019

 

Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

For the transition period from ____________ to ____________

 

Commission File No.          0-28274

 

 

 

Sykes Enterprises, Incorporated

 

(Exact name of Registrant as specified in its charter)

 

Florida

 

56-1383460

(State or other jurisdiction of incorporation or organization)

 

(IRS Employer Identification No.)

 

400 North Ashley Drive, Suite 2800, Tampa, FL     33602

(Address of principal executive offices)    (Zip Code)

 

Registrant’s telephone number, including area code:  (813) 274-1000

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for at least the past 90 days. Yes No

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes  No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer

 

 

Accelerated filer

Non-accelerated filer

 

 

Smaller reporting company

 

 

 

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.    

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading Symbol(s)

 

Name of each exchange on which registered

Common Stock, $0.01 par value

 

SYKE

 

NASDAQ Stock Market, LLC

 

As of April 18, 2019, there were 42,564,853 outstanding shares of common stock.

 

 

 


Sykes Enterprises, Incorporated and Subsidiaries

 

Form 10-Q

 

INDEX

 

PART I.  FINANCIAL INFORMATION

 

3

 

 

 

Item 1.

 

Financial Statements

 

3

 

 

Condensed Consolidated Balance Sheets – March 31, 2019 and December 31, 2018 (Unaudited)

 

3

 

 

Condensed Consolidated Statements of Operations – Three Months Ended March 31, 2019 and 2018 (Unaudited)

 

4

 

 

Condensed Consolidated Statements of Comprehensive Income (Loss) – Three Months Ended March 31, 2019 and 2018 (Unaudited)

 

5

 

 

Condensed Consolidated Statements of Changes in Shareholders’ Equity – Three Months Ended March 31, 2019 and 2018 (Unaudited)

 

6

 

 

Condensed Consolidated Statements of Cash Flows – Three Months Ended March 31, 2019 and 2018 (Unaudited)

 

7

 

 

Notes to Condensed Consolidated Financial Statements (Unaudited)

 

9

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

36

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

45

Item 4.

 

Controls and Procedures

 

46

 

 

 

Part II.  OTHER INFORMATION

 

47

 

 

 

 

 

Item 1.

 

Legal Proceedings

 

47

Item 1A.

 

Risk Factors

 

47

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

47

Item 3.

 

Defaults Upon Senior Securities

 

47

Item 4.

 

Mine Safety Disclosures

 

47

Item 5.

 

Other Information

 

47

Item 6.

 

Exhibits

 

48

 

 

SIGNATURE

 

49

 

 

 

2


 

PART I.  FINANCIAL INFORMATION

 

Item 1.  Financial Statements

 

Sykes Enterprises, Incorporated and Subsidiaries

Condensed Consolidated Balance Sheets

(Unaudited)

 

(in thousands, except per share data)

March 31, 2019

 

 

December 31, 2018

 

Assets

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

Cash and cash equivalents

$

148,242

 

 

$

128,697

 

Receivables, net

 

349,400

 

 

 

347,425

 

Prepaid expenses

 

19,339

 

 

 

23,754

 

Other current assets

 

18,591

 

 

 

16,761

 

Total current assets

 

535,572

 

 

 

516,637

 

Property and equipment, net

 

128,775

 

 

 

135,418

 

Operating lease right-of-use assets

 

218,057

 

 

 

 

Goodwill, net

 

303,920

 

 

 

302,517

 

Intangibles, net

 

170,277

 

 

 

174,031

 

Deferred charges and other assets

 

46,505

 

 

 

43,364

 

 

$

1,403,106

 

 

$

1,171,967

 

Liabilities and Shareholders' Equity

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

Accounts payable

$

28,809

 

 

$

26,923

 

Accrued employee compensation and benefits

 

103,751

 

 

 

95,813

 

Income taxes payable

 

2,794

 

 

 

1,433

 

Deferred revenue and customer liabilities

 

27,077

 

 

 

30,176

 

Operating lease liabilities

 

45,636

 

 

 

 

Other accrued expenses and current liabilities

 

27,359

 

 

 

31,235

 

Total current liabilities

 

235,426

 

 

 

185,580

 

Long-term debt

 

93,000

 

 

 

102,000

 

Long-term income tax liabilities

 

23,975

 

 

 

23,787

 

Long-term operating lease liabilities

 

186,079

 

 

 

 

Other long-term liabilities

 

22,585

 

 

 

33,991

 

Total liabilities

 

561,065

 

 

 

345,358

 

 

 

 

 

 

 

 

 

Commitments and loss contingency (Note 13)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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;

   42,565 and 42,778 shares issued, respectively

 

426

 

 

 

428

 

Additional paid-in capital

 

287,347

 

 

 

286,544

 

Retained earnings

 

610,585

 

 

 

598,788

 

Accumulated other comprehensive income (loss)

 

(53,761

)

 

 

(56,775

)

Treasury stock at cost: 133 and 126 shares, respectively

 

(2,556

)

 

 

(2,376

)

Total shareholders' equity

 

842,041

 

 

 

826,609

 

 

$

1,403,106

 

 

$

1,171,967

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

 

3


 

Sykes Enterprises, Incorporated and Subsidiaries

Condensed Consolidated Statements of Operations

(Unaudited)

 

 

Three Months Ended March 31,

 

(in thousands, except per share data)

2019

 

 

2018

 

Revenues

$

402,925

 

 

$

414,371

 

Operating expenses:

 

 

 

 

 

 

 

Direct salaries and related costs

 

261,728

 

 

 

275,072

 

General and administrative

 

104,680

 

 

 

102,440

 

Depreciation, net

 

13,897

 

 

 

14,836

 

Amortization of intangibles

 

4,286

 

 

 

4,213

 

Impairment of long-lived assets

 

1,582

 

 

 

3,526

 

Total operating expenses

 

386,173

 

 

 

400,087

 

Income from operations

 

16,752

 

 

 

14,284

 

 

 

 

 

 

 

 

 

Other income (expense):

 

 

 

 

 

 

 

Interest income

 

185

 

 

 

171

 

Interest (expense)

 

(1,178

)

 

 

(1,206

)

Other income (expense), net

 

610

 

 

 

155

 

Total other income (expense), net

 

(383

)

 

 

(880

)

 

 

 

 

 

 

 

 

Income before income taxes

 

16,369

 

 

 

13,404

 

Income taxes

 

4,682

 

 

 

2,456

 

Net income

$

11,687

 

 

$

10,948

 

 

 

 

 

 

 

 

 

Net income per common share:

 

 

 

 

 

 

 

Basic

$

0.28

 

 

$

0.26

 

Diluted

$

0.28

 

 

$

0.26

 

 

 

 

 

 

 

 

 

Weighted average common shares outstanding:

 

 

 

 

 

 

 

Basic

 

42,169

 

 

 

41,939

 

Diluted

 

42,299

 

 

 

42,232

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

4


 

Sykes Enterprises, Incorporated and Subsidiaries

Condensed Consolidated Statements of Comprehensive Income (Loss)

(Unaudited)

 

 

Three Months Ended March 31,

 

(in thousands)

2019

 

 

2018

 

Net income

$

11,687

 

 

$

10,948

 

Other comprehensive income (loss), net of taxes:

 

 

 

 

 

 

 

Foreign currency translation adjustments, net of taxes

 

1,362

 

 

 

291

 

Unrealized gain (loss) on cash flow hedging instruments, net of taxes

 

1,672

 

 

 

(2,893

)

Unrealized actuarial gain (loss) related to pension liability, net of taxes

 

(15

)

 

 

(83

)

Unrealized gain (loss) on postretirement obligation, net of taxes

 

(5

)

 

 

(10

)

Other comprehensive income (loss), net of taxes

 

3,014

 

 

 

(2,695

)

Comprehensive income (loss)

$

14,701

 

 

$

8,253

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

5


 

Sykes Enterprises, Incorporated and Subsidiaries

Condensed Consolidated Statements of Changes in Shareholders’ Equity

Three Months Ended March 31, 2019 and 2018

(Unaudited)

 

 

Common Stock

 

 

Additional

 

 

 

 

 

 

Accumulated

Other

 

 

 

 

 

 

 

 

 

(in thousands)

Shares

Issued

 

 

Amount

 

 

Paid-in

Capital

 

 

Retained

Earnings

 

 

Comprehensive

Income (Loss)

 

 

Treasury

Stock

 

 

Total

 

Balance at December 31, 2018

 

42,778

 

 

$

428

 

 

$

286,544

 

 

$

598,788

 

 

$

(56,775

)

 

$

(2,376

)

 

$

826,609

 

Cumulative effect of accounting change –

   adoption of ASC 842, Leases (Note 3)

 

 

 

 

 

 

 

 

 

 

110

 

 

 

 

 

 

 

 

 

110

 

Stock-based compensation expense

 

 

 

 

 

 

 

1,890

 

 

 

 

 

 

 

 

 

 

 

 

1,890

 

Issuance of common stock under equity

   award plans, net of forfeitures

 

(168

)

 

 

(2

)

 

 

182

 

 

 

 

 

 

 

 

 

(180

)

 

 

 

Shares repurchased for tax withholding on

   equity awards

 

(45

)

 

 

 

 

 

(1,269

)

 

 

 

 

 

 

 

 

 

 

 

(1,269

)

Comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

11,687

 

 

 

3,014

 

 

 

 

 

 

14,701

 

Balance at March 31, 2019

 

42,565

 

 

$

426

 

 

$

287,347

 

 

$

610,585

 

 

$

(53,761

)

 

$

(2,556

)

 

$

842,041

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2017

 

42,899

 

 

$

429

 

 

$

282,385

 

 

$

546,843

 

 

$

(31,104

)

 

$

(2,074

)

 

$

796,479

 

Cumulative effect of accounting change –

   adoption of ASC 606, Revenues (Note 2)

 

 

 

 

 

 

 

 

 

 

3,019

 

 

 

 

 

 

 

 

 

3,019

 

Stock-based compensation expense

 

 

 

 

 

 

 

2,077

 

 

 

 

 

 

 

 

 

 

 

 

2,077

 

Issuance of common stock under equity

   award plans, net of forfeitures

 

18

 

 

 

 

 

 

59

 

 

 

 

 

 

 

 

 

(59

)

 

 

 

Shares repurchased for tax withholding on

   equity awards

 

(118

)

 

 

(1

)

 

 

(3,681

)

 

 

 

 

 

 

 

 

 

 

 

(3,682

)

Comprehensive income (loss)

 

 

 

 

 

 

 

 

 

 

10,948

 

 

 

(2,695

)

 

 

 

 

 

8,253

 

Balance at March 31, 2018

 

42,799

 

 

$

428

 

 

$

280,840

 

 

$

560,810

 

 

$

(33,799

)

 

$

(2,133

)

 

$

806,146

 

 

See accompanying Notes to Condensed Consolidated Financial Statements.

6


 

Sykes Enterprises, Incorporated and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

 

 

Three Months Ended March 31,

 

(in thousands)

2019

 

 

2018

 

Cash flows from operating activities:

 

 

 

 

 

 

 

Net income

$

11,687

 

 

$

10,948

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

Depreciation

 

13,957

 

 

 

14,964

 

Amortization of intangibles

 

4,286

 

 

 

4,213

 

Amortization of deferred grants

 

(95

)

 

 

(181

)

Impairment losses

 

1,582

 

 

 

3,526

 

Unrealized foreign currency transaction (gains) losses, net

 

573

 

 

 

194

 

Stock-based compensation expense

 

1,890

 

 

 

2,077

 

Deferred income tax provision (benefit)

 

530

 

 

 

584

 

Unrealized (gains) losses and premiums on financial instruments, net

 

(494

)

 

 

168

 

Amortization of deferred loan fees

 

69

 

 

 

67

 

Other

 

263

 

 

 

150

 

Changes in assets and liabilities, net of acquisitions:

 

 

 

 

 

 

 

Receivables, net

 

(2,320

)

 

 

(2,120

)

Prepaid expenses

 

1,103

 

 

 

(134

)

Other current assets

 

(359

)

 

 

665

 

Deferred charges and other assets

 

(1,961

)

 

 

(1,496

)

Accounts payable

 

(15

)

 

 

(4,413

)

Income taxes receivable / payable

 

1,664

 

 

 

(1,622

)

Accrued employee compensation and benefits

 

6,866

 

 

 

(1,832

)

Other accrued expenses and current liabilities

 

2,179

 

 

 

3,766

 

Deferred revenue and customer liabilities

 

(3,507

)

 

 

(2,976

)

Other long-term liabilities

 

198

 

 

 

2,071

 

Operating lease assets and liabilities

 

1,207

 

 

 

 

Net cash provided by operating activities

 

39,303

 

 

 

28,619

 

Cash flows from investing activities:

 

 

 

 

 

 

 

Capital expenditures

 

(5,696

)

 

 

(13,258

)

Cash paid for business acquisitions, net of cash acquired

 

(61

)

 

 

 

Purchase of intangible assets

 

 

 

 

(7,505

)

Other

 

26

 

 

 

2

 

Net cash (used for) investing activities

 

(5,731

)

 

 

(20,761

)

 

7


 

Sykes Enterprises, Incorporated and Subsidiaries

Condensed Consolidated Statements of Cash Flows

(Unaudited)

(Continued)

 

 

Three Months Ended March 31,

 

(in thousands)

2019

 

 

2018

 

Cash flows from financing activities:

 

 

 

 

 

 

 

Payments of long-term debt

 

(9,000

)

 

 

(175,000

)

Shares repurchased for tax withholding on equity awards

 

(1,269

)

 

 

(3,682

)

Cash paid for loan fees related to long-term debt

 

(1,091

)

 

 

 

Other

 

(6

)

 

 

20

 

Net cash (used for) financing activities

 

(11,366

)

 

 

(178,662

)

Effects of exchange rates on cash, cash equivalents and restricted cash

 

(862

)

 

 

(332

)

Net increase (decrease) in cash, cash equivalents and restricted cash

 

21,344

 

 

 

(171,136

)

Cash, cash equivalents and restricted cash – beginning

 

130,231

 

 

 

344,805

 

Cash, cash equivalents and restricted cash – ending

$

151,575

 

 

$

173,669