TTEC Holdings (TTEC), a customer experience technology and services company, identified a $13.8 million accounting error and made an out-of-period adjustment to its financial statements for the quarter ended June 30, 2023. The error, according to TTEC, reflects the deferred tax impact of currency translation adjustments, of which $0.5 million relates to the three months ended March 31, 2023, and the remaining $13.3 million relates to prior annual fiscal periods.

TTEC management determined the error was not material.

The $13.8 million correction is:

—2.2% of revenue for the quarter ended June 30, 2023
—44.2% of operating income for the quarter ended June 30, 2023
—12.3% of free cash flow for the quarter ended June 30, 2023