10-Q

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, 2018

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to .

 Commission file number 1-14379

______________________

 CONVERGYS CORPORATION

(Exact name of registrant as specified in its charter)

______________________

Incorporated under the laws of the State of Ohio

201 East Fourth Street, Cincinnati, Ohio 45202

I.R.S. Employer Identification Number 31-1598292

Telephone - Area Code (513) 723-7000

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 the past 90 days.    Yes  ☑    No  ☐

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted 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 and post 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	☐	(Do not check if a smaller reporting company)	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 ☑

At March 31, 2018, there were 91,499,038 common shares outstanding, excluding amounts held in treasury of 1,351,300.

TABLE OF CONTENTS

PART I		Page
Item 1.	Financial Statements	2
	Consolidated Statements of Income - Three Months Ended March, 31, 2018 and 2017 (Unaudited)	2
	Consolidated Statements of Comprehensive Income - Three Months Ended March 31, 2018 and 2017 (Unaudited)	3
	Consolidated Balance Sheets - March 31, 2018 (Unaudited) and December 31, 2017	4
	Consolidated Statements of Cash Flow - Three Months Ended March 31, 2018 and 2017 (Unaudited)	5
	Notes to Condensed Consolidated Financial Statements (Unaudited)	6
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	6
Item 3.	Quantitative and Qualitative Disclosure about Market Risk	7
Item 4.	Controls and Procedures	7
PART II
Item 1.	Legal Proceedings	8
Item 1A.	Risk Factors	8
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	8
Item 6.	Exhibits	9
	Signatures	10

1

PART I - FINANCIAL INFORMATION

ITEM 1. FINCIAL STATEMENTS

CONSOLIDATED STATEMENTS OF INCOME

(Unaudited)

	Three Months Ended March 31,
(Amounts in millions except per share amounts)	2018			2017
Revenues		$674.2			$727.6
Costs and Expenses:
Cost of providing services and products sold (1)	417.7			450.2
Selling, general and administrative	172.4			177.5
Depreciation	23.8			27.4
Amortization	6.9			7.2
Restructuring charges	18.9			15.0
Transaction and integration costs	—			1.5
Total costs and expenses	639.7			678.8
Operating Income	34.5			48.8
Other (expense) income, net	(0.5		)	1.3
Interest expense	(4.5		)	(5.3		)
Income before Income Taxes	29.5			44.8
Income tax (benefit) expense	(0.3		)	6.9
Net Income		$29.8			$37.9
Basic Earnings per Common Share		$0.33			$0.40
Diluted Earnings per Common Share		$0.30			$0.38
Weighted Average Common Shares Outstanding:
Basic	91.6			94.4
Diluted	98.2			100.5
Cash dividends declared per share		$0.11			$0.09

(1) Exclusive of depreciation and amortization, with the exception of amortization of deferred charges.

The accompanying notes are an integral part of the Consolidated Financial Statements.

2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(Unaudited)

	Three Months Ended March 31,
(In millions)	2018			2017
Net Income		$29.8			$37.9
Other Comprehensive (Loss) Income, net of tax:
Foreign currency translation adjustments	6.4			3.0
Change related to pension liability	(4.5		)	0.9
Unrealized (loss) gain on hedging activities	(20.1		)	10.7
Total other comprehensive (loss) income	(18.2		)	14.6
Total Comprehensive Income		$11.6			$52.5

The accompanying notes are an integral part of the Consolidated Financial Statements.

3

CONSOLIDATED BALANCE SHEETS

	(Unaudited)
(Amounts in millions)	At March 31, 2018			At December 31, 2017
ASSETS
Current Assets:
Cash and cash equivalents		$186.3			$193.7
Short-term investments	13.1			13.5
Receivables, net of allowances of $4.4 and $4.8	567.7			567.2
Prepaid expenses	39.5			35.9
Other current assets	49.9			47.4
Total current assets	856.5			857.7
Property and equipment, net	240.0			260.0
Goodwill	942.8			937.9
Other intangibles, net	282.8			287.3
Deferred income tax assets	19.6			21.3
Other assets	44.6			50.5
Total Assets		$2,386.3			$2,414.7
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current Liabilities:
Debt and capital lease obligations maturing within one year		$50.3			$0.9
Payables and other current liabilities	309.6			322.1
Total current liabilities	359.9			323.0
Long-term debt and capital lease obligations	230.0			267.7
Deferred income tax liabilities	213.4			222.6
Accrued pension liabilities	92.5			94.7
Other long-term liabilities	57.1			69.5
Total liabilities	952.9			977.5
Convertible debentures conversion feature	59.0			59.5
Shareholders’ Equity:
Preferred shares—without par value, 5.0 authorized; none issued or outstanding	—			—
Common shares—without par value, 500.0 authorized; 92.9 and 92.5 issued, 91.5 and 91.8 outstanding, as of March 31, 2018 and December 31, 2017, respectively	3.3			2.5
Treasury stock—1.4 and 0.6 shares as of March 31, 2018 and December 31, 2017, respectively	(32.2		)	(16.0		)
Retained earnings	1,488.1			1,457.8
Accumulated other comprehensive loss	(84.8		)	(66.6		)
Total shareholders’ equity	1,374.4			1,377.7
Total Liabilities and Shareholders’ Equity		$2,386.3			$2,414.7

The accompanying notes are an integral part of the Consolidated Financial Statements.

4

CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

	Three Months Ended March 31,
(Amounts in millions)	2018			2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net income		$29.8			$37.9
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	30.7			34.6
Deferred income tax expense (benefit)	4.1			(0.6		)
Stock compensation expense	5.2			4.4
Changes in assets and liabilities, net of acquisitions:
Change in receivables	(0.8		)	1.3
Change in other current assets	(8.2		)	1.4
Change in deferred charges, net	0.1			0.1
Change in other assets and liabilities	(30.0		)	(11.2		)
Change in payables and other current liabilities	(18.2		)	(35.0		)
Net cash provided by operating activities	12.7			32.9
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(5.9		)	(8.9		)
Net cash used in investing activities	(5.9		)	(8.9		)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of other long-term debt (term loan)	—			100.0
Repayments of other long-term debt (term loan and capital lease obligations)	(51.1		)	(215.7		)
Proceeds from Asset Securitization Facility	215.3			333.6
Repayment of Asset Securitization Facility	(153.3		)	(173.6		)
Repurchase of common shares	(15.9		)	(21.5		)
Payments of dividends	(9.2		)	(8.5		)
Net cash (used in) provided by financing activities	(14.2		)	14.3
Net (decrease) increase in cash and cash equivalents	(7.4		)	38.3
Cash and cash equivalents at beginning of period	193.7			138.8
Cash and cash equivalents at end of period		$186.3			$177.1

 The accompanying notes are an integral part of the Consolidated Financial Statements.

5

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(Amounts in millions except per share amounts)

1. BACKGROUND AND BASIS OF PRESENTATION

Convergys Corporation is a global leader in customer experience outsourcing, focused on bringing value to its clients through every customer interaction. As of March 31, 2018, Convergys had approximately 110,000 employees in 33 countries, interacting with our clients’ customers in 58 languages. In order to help clients serve their customers, Convergys operates 136 contact centers. Convergys leverages its geographic footprint and comprehensive capabilities to help leading companies create quality customer experiences across multiple interaction channels, such as voice, chat, email and interactive voice response.

The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting (U.S. GAAP) and U.S. Securities and Exchange Commission (SEC) regulations and, in the opinion of management, include all adjustments necessary for a fair presentation of the results of operations, financial position and cash flows for each period shown. All adjustments are of a normal and recurring nature. Certain information and footnote disclosures normally included in Financial Statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted. Interim Consolidated Financial Statements are not necessarily indicative of the financial position or operating results for an entire year. These interim Consolidated Financial Statements should be read in conjunction with the audited Financial Statements and the Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on February 21, 2018.

2. RECENT ACCOUNTING PRONOUNCEMENTS

In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU permits companies to reclassify disproportionate tax effects in accumulated other comprehensive income (AOCI) caused by the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act) to retained earnings. The Company elected to early adopt this standard as of January 1, 2018, on a prospective basis, resulting in a $6.0 reclassification adjustment, using a specific identification method, that increased retained earnings and decreased AOCI.

In May 2017, the FASB issued ASU 2017-09, Stock Compensation - Scope of Modification Accounting. This ASU clarifies which changes to the terms or conditions of a share-based payment award require the application of modification accounting under ASC 718. The Company adopted this standard as of January 1, 2018. The adoption of this standard did not have an impact on the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. This ASU eliminates the two-step process that required identification of potential impairment and a separate measure of the actual impairment. Goodwill impairment charges, if any, would be determined by the difference between a reporting unit's carrying value and its fair value (impairment loss is limited to the carrying value). This standard is effective for annual or any interim goodwill impairment tests beginning after December 15, 2019. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). The objective of this update is to provide additional guidance and reduce diversity in practice when classifying certain transactions within the statement of cash flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. These standards are effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted these standards as of January 1, 2018 utilizing the retrospective transition method. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases. This ASU will require lessees to recognize almost all leases on the balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as finance leases or operating leases. The Company will adopt this standard on January 1, 2019 and is currently assessing the effect that adoption of the new standard will have on its consolidated financial statements and related disclosures, as well as its processes, systems and internal controls. The Company currently expects adoption of this standard will result in a material increase to the assets and liabilities reported on the Company’s Consolidated Balance Sheets.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The standard applies one comprehensive revenue recognition model across all contracts, entities and sectors. The core principal of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard includes cost guidance, whereby all direct and incremental costs to obtain or fulfill a contract with a customer are capitalized and amortized over the corresponding period of benefit. The Company adopted this standard for all contracts with customers outstanding on January 1, 2018 using the modified retrospective adoption method, which resulted in a $3.2 adjustment to the opening balance of retained earnings. Results for reporting periods after January 1, 2018 are presented under ASU 2014-09, while prior period amounts are not adjusted and continue to be reported in accordance with the accounting standards in effect for those periods. The largest adoption impacts to the Company’s consolidated financial statements resulted from the new qualitative and quantitative disclosures provided in Note 3, and the capitalization of certain direct and incremental contract costs that are now being capitalized and amortized over the estimated period of benefit of the corresponding contracts. The new standard does not have an impact on the timing or revenue recognition pattern of any of our identified revenue streams. The cumulative effect of the changes made to our January 1, 2018 Consolidated Balance Sheet for the adoption of ASU 2014-09 were as follows:

	Balance at		Adjustments Due to		Balance at
Consolidated Balance Sheet Caption	December 31, 2017		ASU 2014-09		January 1, 2018
Assets
Other current assets		$47.4		$2.0		$49.4
Total current assets		$857.7		$2.0		$859.7
Other assets		$50.5		$2.3		$52.8
Total Assets		$2,414.7		$4.3		$2,419.0
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$222.6		$1.1		$223.7
Total liabilities		$977.5		$1.1		$978.6
Retained Earnings		$1,457.8		$3.2		$1,461.0
Total shareholders' equity		$1,377.7		$3.2		$1,380.9
Total Liabilities and Shareholders' Equity		$2,414.7		$4.3		$2,419.0

The impacts to the Company’s Consolidated Statement of Income for the three months ended March 31, 2018 and Consolidated Balance Sheet as of March 31, 2018, as a result of the adoption of ASU 2014-09 were as follows:

	Three Months Ended March 31, 2018
Consolidated Statement of Income Caption	As Reported			Amounts Without Adoption of ASU 2014-09			Effect of Change
Selling, general and administrative		$172.4			$172.8			($0.4	)
Total costs and expenses		$639.7			$640.1			($0.4	)
Operating Income		$34.5			$34.1			$0.4
Income before Income Taxes		$29.5			$29.1			$0.4
Income tax benefit		($0.3	)		($0.2	)		($0.1	)
Net Income		$29.8			$29.5			$0.3

	Three Months Ended March 31, 2018
Consolidated Balance Sheet Caption	As Reported		Balances Without Adoption of ASU 2014-09		Effect of Change
Assets
Other current assets		$49.9		$47.6		$2.3
Total current assets		$856.5		$854.2		$2.3
Other assets		$44.6		$42.1		$2.5
Total Assets		$2,386.3		$2,381.5		$4.8
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$213.4		$212.2		$1.2
Total liabilities		$952.9		$951.7		$1.2
Retained earnings		$1,488.1		$1,484.5		$3.6
Total shareholders' equity		$1,374.4		$1,370.8		$3.6
Total Liabilities and Shareholders' Equity		$2,386.3		$2,381.5		$4.8

3. REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue Recognition Policy

More than 95% of the Company’s revenues are derived from fees for customer experience outsourcing services provided to the Company’s clients. Revenues from our contracts to provide these services relate to a single performance obligation to stand ready to provide services to the customer. The Company recognizes these revenues over time as services are performed based on the volumes of services provided and contractual rates. The Company’s remaining revenues, which represent less than 5% of the Company’s total revenues, are derived from the sale of premise-based and hosted self-care and technology solutions and provision of professional services. Revenues from the sale of these solutions and provision of these services are recognized over time as solutions or services are provided over the duration of the contract, using contractual rates. These contracts are typically one year or less in duration.

Certain of our contracts, primarily for agent-related services, include pricing terms and conditions that include components of variable consideration. The variable consideration is typically in the form of performance-related bonus and penalty provisions that are determined based upon our meeting, or not meeting, agreed-upon service levels and performance metrics specified within the contract. Some contracts also contain discounts that the client can earn through the achievement of specified volume levels or through early payment for services provided by Convergys. Each component of variable consideration is earned based on the Company’s actual performance during the measurement period specified within the contract (typically monthly for bonus and penalty provisions and either quarterly or annually for volume discounts). In order to determine the transaction price, the Company estimates the variable consideration using the most likely amount method, based on the specific contract provisions and known performance results during the relevant measurement period. When determining if variable consideration should be constrained, the Company considers whether factors outside its control could result in a significant reversal of revenue. In making these assessments, the Company considers the likelihood and magnitude of a potential reversal. The Company’s performance period generally corresponds with the monthly invoice period. Given our historical experiences and relatively short duration of periods subject to variable consideration adjustments, no constraints on our revenue recognition were applied during the first quarter of 2018. The Company reassesses these estimates during each reporting period.

Disaggregation of Revenue

We provide services to companies across a variety of industries including communications, technology, retail, financial services, healthcare and other. The following table presents our disaggregated revenue from customers by key industry vertical for the three months ended March 31, 2018 and 2017.

	Three Months Ended March 31,
	2018		2017
Revenues:
Communications		$287.2		$336.8
Technology	148.9		156.5
Retail	76.4		66.4
Financial Services	74.7		77.9
Healthcare	51.4		51.4
Other	35.6		38.6
Total Revenues		$674.2		$727.6

While most of our contracts are priced in U.S. dollars, we also recognize revenue under contracts that are denominated in euros, British pounds, Australian dollars or Canadian dollars. The following table presents the Company’s U.S. dollar equivalent revenue by currency for the three months ended March 31, 2018 and 2017.

	Three Months Ended March 31,
	2018		2017
U.S. Dollar Revenue by Currency:
U.S. dollar		$494.2		$570.1
Euro	92.3		77.7
British pound	52.7		39.8
Australian dollar	11.5		15.3
Canadian dollar	9.6		8.8
Other	13.9		15.9
Total Revenues		$674.2		$727.6

Costs to Obtain a Contract

The Company capitalizes commission expenses paid to our sales personnel when the commissions are deemed to be incremental for obtaining new agent-related services contracts. The deferred commissions are amortized on a straight-line basis over the expected period of benefit. We review the deferred commission balances for impairment on an ongoing basis. Deferred commissions are classified as current or noncurrent based on the timing of when we expect to recognize the expense. The current and noncurrent portions are included in Other current assets and Other assets, respectively, on the Company’s Consolidated Balance Sheets. As of March 31, 2018, the current and noncurrent assets related to deferred commissions totaled $2.3 and $2.5, respectively. During the three months ended March 31, 2018, we recorded $0.7 of amortization expense related to deferred commissions. This expense is classified in Selling, general and administrative expense on the Consolidated Statement of Income.

Receivables and Allowance for Doubtful Accounts

Trade receivables are comprised of amounts owed to the Company by clients and are presented net of an allowance for doubtful accounts. Contracts with individual clients determine when receivables are due, generally within 30 to 60 days, and whether interest is accrued on late payments. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable balance. The Company regularly reviews the adequacy of its allowance for doubtful accounts. The Company determines the allowance based on historical write-off experience and current economic conditions and also considers factors such as customer credit, past transaction history with the customer and changes in customer payment terms when determining whether the collection of a receivable is reasonably assured. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Volume Discounts

Certain contracts with customers contain discounts that the client can earn through the achievement of specified volume levels or through early payment for services provided by Convergys. The Company maintains a liability for these discounts within Payables and other current liabilities on its Consolidated Balance Sheets. The liabilities for these discounts totaled $5.9 as of March 31, 2018.

4. EARNINGS PER SHARE AND SHAREHOLDERS’ EQUITY

Earnings per Share

The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share (EPS) computations:

Shares (in millions)	Shares	Net Income		Per Share Amount
Three Months Ended March 31, 2018
Basic EPS	91.6		$29.8		$0.33
Effect of dilutive securities:
Stock-based compensation arrangements	0.9	—		(0.01		)
Convertible Debt	5.7	—		(0.02		)
Diluted EPS	98.2		$29.8		$0.30
Three Months Ended March 31, 2017
Basic EPS	94.4		$37.9		$0.40
Effect of dilutive securities:
Stock-based compensation arrangements	0.9	—		—
Convertible Debt	5.2	—		(0.02		)
Diluted EPS	100.5		$37.9		$0.38

The diluted EPS calculation for the three months endedMarch 31, 2018 excludes 0.3 performance-based restricted stock units granted in 2016, as the performance criteria has not yet been achieved, as well as 0.4 performance-based restricted stock units (0.1 and 0.3 granted in 2018 and 2017, respectively), as performance criteria for the third year of the 2017 grants and the second and third years of the 2018 grants have not yet been fully defined, thereby precluding a grant for accounting purposes due to a lack of a mutual understanding of the terms of the stock-based awards.

The diluted EPS calculation for the three months endedMarch 31, 2018 includes 5.7 shares associated with the Company’s convertible debt. As described more fully in Note 6, during 2009, the Company issued approximately $125.0 aggregate principal amount of 5.75% Junior Subordinated Convertible Debentures due 2029 (2029 Convertible Debentures). The 2029 Convertible Debentures were convertible, subject to certain conditions, into shares of the Company’s common stock at an initial implied conversion price of approximately $12.07 per share, or eighty-two and eighty-two hundredths shares per one thousand dollars in principal amount of debentures. The conversion rate is subject to adjustment for certain events outlined in the indenture governing the 2029 Convertible Debentures (the Indenture), including payment of dividends. As of March 31, 2018, the implied conversion price for the 2029 Convertible Debentures was approximately $11.11 per share, or eighty-nine and ninety-seven hundredths shares per one thousand dollars in principal amount of debentures.

Shareholders’ Equity

The Company repurchased 0.7 of its common shares during the three months endedMarch 31, 2018 at an average price of $22.96 per share for a total of $16.2. Based upon the timing of transactions, $0.3 of the shares repurchased during December 2017 settled during the first quarter of 2018. Additionally, $0.6 of the shares repurchased during March 2018 had not settled as of March 31, 2018. These shares are excluded from outstanding shares at the end of the current quarter and were settled in cash during the second quarter of 2018.

As of March 31, 2018, the Company had the authority to repurchase $45.3 of outstanding common shares pursuant to the Board of Directors’ August 2015 authorization to increase the remaining authorized share repurchases to $250.0 in the aggregate. The timing and terms of any future transactions will depend on a number of considerations including market conditions, our available liquidity and capital needs, and limits on share repurchases that may be applicable under the covenants in our Credit Agreement.

Dividends

During 2017 and 2018, the Company’s Board of Directors declared the following dividends per common share, which were paid by the Company on the payment dates listed below:

Announcement Date	Record Date	Dividend Amount	Payment Date
February 22, 2017	March 24, 2017	$0.09	April 7, 2017
May 8, 2017	June 23, 2017	$0.10	July 7, 2017
August 8, 2017	September 22, 2017	$0.10	October 6, 2017
November 7, 2017	December 22, 2017	$0.10	January 5, 2018
February 21, 2018	March 23, 2018	$0.10	April 6, 2018

On May 8, 2018, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.11 per common share to be paid on July 6, 2018 to shareholders of record as of June 22, 2018.

The Board expects that future cash dividends will be paid on a quarterly basis. However, any decision to pay future cash dividends will be subject to Board approval, and will depend on the Company’s future earnings, cash flow, financial condition, financial covenants and other relevant factors.

5. GOODWILL AND OTHER INTANGIBLE AND LONG-LIVED ASSETS

Goodwill

Goodwill was $942.8 at March 31, 2018 compared to $937.9 at December 31, 2017. This increase was due to foreign currency translation. The Company tests goodwill for impairment annually as of October 1 and at other times if events have occurred or circumstances exist that indicate the carrying value of goodwill may no longer be recoverable. Goodwill impairment testing is performed at the reporting unit level, one level below the business segment. The Company’s reporting units are Customer Management - Agent Services and Customer Management - Customer Interaction Technology (CIT). As of March 31, 2018 and December 31, 2017, all goodwill was held by the Customer Management - Agent Services reporting unit.

The annual impairment test performed as of October 1, 2017 indicated that the fair value of the Customer Management - Agent Services reporting unit was substantially in excess of its carrying value. However, impairment charges could be required if a divestiture decision is made or other significant economic events occur with respect to the reporting unit. Subsequent to our October 1, 2017 annual impairment test, no indications of an impairment were identified.  

Other Intangible Assets

The Company’s other intangible assets, primarily acquired through business combinations, are evaluated periodically if events or circumstances indicate a possible inability to recover their carrying amounts. No impairment charges were recognized in any period presented. As of March 31, 2018 and December 31, 2017, the Company’s other intangible assets consisted of the following:

March 31, 2018	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships and other intangibles		$487.8		($205.0	)		$282.8
Trademarks	27.1		(27.1		)	—
Software (classified within Property and equipment, net)	41.3		(41.3		)	—
Total		$556.2		($273.4	)		$282.8
December 31, 2017
Customer relationships and other intangibles		$484.6		($198.0	)		$286.6
Trademarks	27.0		(26.3		)	0.7
Software (classified within Property and equipment, net)	41.3		(41.3		)	—
Total		$552.9		($265.6	)		$287.3

The customer relationship and other intangible assets are being amortized for 1 to 17 years. The remaining weighted average amortization period for customer relationships and other intangibles is approximately 12.0 years. Amortization of software is included within depreciation expense as the underlying assets are classified within property and equipment.

Amortization expense for intangibles was $6.9 for the three months endedMarch 31, 2018 and is estimated to be approximately $25.6 for the year ended December 31, 2018. The related estimated expense for the five subsequent fiscal years is as follows:

For the year ended 2019		$24.9
For the year ended 2020	24.2
For the year ended 2021	22.5
For the year ended 2022	22.2
For the year ended 2023	22.2
Thereafter	148.1

6. DEBT AND CAPITAL LEASE OBLIGATIONS

Debt and capital lease obligations consisted of the following:

	March 31, 2018		December 31, 2017
Term Loan, due 2019		$49.6		$99.3
Convertible Debentures, due 2029	66.0		65.5
Capital Lease Obligations	1.0		2.1
Accounts Receivable Securitization	165.0		103.0
Total debt	281.6		269.9
Less debt issuance costs	1.3		1.3
Total debt, net	280.3		268.6
Less current maturities	50.3		0.9
Long-term debt		$230.0		$267.7

Credit Facility

On January 11, 2017 (the Effective Date), the Company entered into a new credit agreement (Credit Agreement) and repaid all amounts outstanding and terminated all commitments under its previously existing credit agreement (Prior Credit Agreement) using initial borrowings under the Credit Agreement as well as borrowings under the Company’s asset securitization facility. The Credit Agreement consists of a $215.0 unsecured term loan facility (Term Loan), maturing on March 3, 2019, and a $300.0 unsecured revolving credit facility (Revolving Credit Facility), maturing on January 11, 2022. On the Effective Date, the Company drew $100.0 in initial borrowings under the Term Loan. A $1.0 extinguishment loss was recognized on the Effective Date and is included in Interest expense on the Consolidated Statement of Income for the three months endedMarch 31, 2017.

The Revolving Credit Facility may be extended for two additional one-year periods, subject to the satisfaction of certain conditions set forth in the Credit Agreement. In addition, aggregate borrowing capacity under the Credit Agreement may be increased by up to an additional $250.0 million by increasing the amount of the Revolving Credit Facility or by incurring additional term loans, in each case subject to the satisfaction of certain conditions set forth in the Credit Agreement, including the receipt of additional commitments for such increase. Borrowings outstanding under the Credit Agreement may be repaid from time to time without premium or penalty, other than customary breakage costs, if any.  Borrowings outstanding under the Credit Agreement bear interest at a fluctuating rate per annum equal to, at the Company’s option, either (a) the applicable adjusted LIBOR plus a spread based on the Company’s total net leverage ratio, or (b) a base rate (equal to the higher of the Administrative Agent’s prime rate, the federal fund rate plus 0.50%, and the one-month adjusted LIBOR plus 1.0%) plus a spread based on the Company’s total net leverage ratio. The Company is also obligated to pay a commitment fee on a quarterly basis on the unused portion of the commitments under the Revolving Credit Facility based on the Company’s total net leverage ratio, which fee is currently 25 basis points. While amounts borrowed and repaid under the Revolving Credit Facility can be re-borrowed, amounts repaid under the Term Loan cannot be borrowed again under the Credit Agreement. The Credit Agreement contains certain affirmative and negative covenants, as well as terms and conditions that are customary for credit facilities of this type, including financial covenants for leverage and interest coverage ratios. The Company was in compliance with all covenants at March 31, 2018. Total borrowing capacity remaining under the Revolving Credit Facility was $300.0, with $50.0 outstanding on the Term Loan, and recorded as a current obligation at March 31, 2018. The carrying value of the Term Loan at March 31, 2018 reflects a discount of $0.4 related to fees paid directly to the lenders at issuance. This discount is being amortized over the life of the Term Loan using the effective interest rate method (4.0% as of March 31, 2018), and is included in interest expense in the Consolidated Statements of Income. Subsequent to March 31, 2018, the Company fully repaid the $50.0 outstanding balance on the Term Loan.

Convertible Debentures

During 2009, Convergys issued $125.0 aggregate principal amount of 5.75% Junior Subordinated Convertible Debentures due September 2029 (2029 Convertible Debentures) in exchange for $122.5 of 4.875% Unsecured Senior Notes due December 15, 2009, pursuant to an exchange offer. At the date of issuance, the Company recognized the liability component of the 2029 Convertible Debenture at its fair value of $56.3. The liability component was recognized as the fair value of a similar instrument that did not have a conversion feature at issuance. The equity component, which is the value of the conversion feature at issuance, was recognized as the difference between the proceeds from the issuance of the debentures and the fair value of the liability component, after adjusting for the deferred tax impact of $32.7. The 2029 Convertible Debentures were issued at a coupon rate of 5.75%, which was below that of a similar instrument that did not have a conversion feature. Therefore, the valuation of the debt component, using the income approach, resulted in a debt discount. The debt discount is being amortized over the life of a similar debt instrument without a conversion feature, which the Company determined to equal the contractual maturity of the 2029 Convertible Debentures.

Amortization is based upon the effective interest rate method and is included in interest expense in the Consolidated Statements of Income.

The 2029 Convertible Debentures, which pay a fixed rate of interest semi-annually, have a contingent interest component that will require the Company to pay additional interest if the trading price of the 2029 Convertible Debentures exceeds a specified threshold at specified times, commencing on September 15, 2019, as outlined in the Indenture. The maximum amount of contingent interest that will accrue is 0.75% per annum of the average trading price of the 2029 Convertible Debentures during the periods specified in the Indenture. The fair value of this embedded derivative was not significant at March 31, 2018 or December 31, 2017.

The Company is not entitled to redeem the 2029 Convertible Debentures prior to September 15, 2019. On or after September 15, 2019, the Company may redeem for cash all or part of the 2029 Convertible Debentures at par value plus accrued but unpaid interest if certain trading conditions of the Company’s common shares are satisfied. The holders of the 2029 Convertible Debentures have the option to require redemption at par value plus accrued but unpaid interest upon the occurrence of a fundamental change, a defined term in the Indenture.

The 2029 Convertible Debentures are convertible at the option of the holders on or after September 15, 2028 and prior to that date only under the following circumstances: (1) during any calendar quarter if the last reported sales price of the Company’s common shares for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is greater than or equal to 130% of the applicable conversion price (currently $14.45) for the 2029 Convertible Debentures on each applicable trading day (hereinafter referred to as the Sales Price Condition); (2) during the five business day period immediately following any five consecutive trading day period (the Measurement Period) in which, as determined following a request by a holder of 2029 Convertible Debentures as provided in the Indenture, the trading price per $1,000 principal amount of 2029 Convertible Debentures for each trading day of such Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common shares and the applicable conversion rate for the 2029 Convertible Debentures on each such trading day; (3) if the Company elects to redeem any or all of the 2029 Convertible Debentures; or (4) upon the occurrence of specified corporate events pursuant to the terms of the Indenture. Upon conversion, the Company will pay cash up to the aggregate principal amount of the 2029 Convertible Debentures to be converted and pay or deliver, as the case may be, cash, common shares of the Company or a combination of cash and common shares of the Company, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2029 Convertible Debentures being converted.

The 2029 Convertible Debentures were convertible, subject to certain conditions, into common shares of the Company at an initial implied conversion price of approximately $12.07 per share, or eighty-two and eighty-two hundredths shares per one thousand dollars in principal amount of debentures. As of March 31, 2018, the implied conversion price for the 2029 Convertible Debentures was approximately $11.11 per share, or eighty-nine and ninety-seven hundredths shares per one thousand dollars in principal amount of debentures. The conversion rate is subject to adjustment for certain events outlined in the Indenture, including payment of dividends.

As of March 31, 2018 and December 31, 2017, the 2029 Convertible Debentures were convertible at the option of the holders. This conversion right was triggered upon satisfaction of the Sales Price Condition (the closing price of the Company’s common shares was greater than or equal to $14.45, 130% of the conversion price of the 2029 Convertible Debentures at March 31, 2018, for at least 20 of the 30 consecutive trading days ending on March 31, 2018). As a result, the equity component of the 2029 Convertible Debentures equal to $59.0 (the difference between the par value and carrying value of the 2029 Convertible Debentures at March 31, 2018) has been classified as temporary equity within the March 31, 2018 Consolidated Balance Sheet since this amount was considered redeemable. The Company will reassess the convertibility of the 2029 Convertible Debentures and the related balance sheet classification on a prospective basis. There have been no conversions of the 2029 Convertible Debentures through the date of this filing.

Based on quoted market prices at March 31, 2018, the fair value of the $125.0 aggregate principal amount of the Company’s 2029 Convertible Debentures is $264.1.

Asset Securitization Facility

During January 2017, the Company amended the terms of its asset securitization facility collateralized by accounts receivable of certain of the Company’s subsidiaries. The amendment resulted in an increased purchase limit of $225.0, with $90.0 and $135.0 expiring in January 2018 and January 2020, respectively. The asset securitization facility was further amended in January 2018 to extend the expiration date for the $90.0 purchase limit to January 2019. The asset securitization program is conducted through Convergys Funding Inc., a wholly-owned bankruptcy remote subsidiary of the Company. As of March 31, 2018 and December 31, 2017, Convergys had drawn $165.0 and $103.0, respectively, in available funding from qualified receivables. Amounts drawn under this facility have been classified as long-term debt within the Consolidated Balance Sheets, based on the Company’s ability and intent to refinance on a long-term basis as of March 31, 2018.

At March 31, 2018, future minimum payments of the Company’s debt and capital lease arrangements (exclusive of any debt discounts) are as follows:

2018	$	0.6
2019	116.3
2020	99.1
2021	—
2022	—
Thereafter	125.0
Total	$	341.0

7. RESTRUCTURING

2018 Restructuring

Company-wide restructuring program

During the first quarter of 2018, the Company initiated a restructuring plan to reduce headcount and consolidate certain contact centers to streamline the Company’s operations. This resulted in a total charge of $10.7, comprised of $5.0 of severance expense associated with headcount reductions and $5.7 of facility-related charges. This expense is included in Restructuring charges on the Consolidated Statements of Income.

The headcount reductions impacted approximately 350 employees and the related severance is expected to be substantially paid in cash by September 30, 2018. The remaining severance liability resulting from these restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $3.8 as of March 31, 2018.

The facility-related charges are associated with five site closures and primarily represent the present value of contractually obligated future minimum lease payments and the full impairment of certain abandoned property and equipment. The fair value of these facility obligations was determined using the income approach through a discounted cash flow analysis, based on estimated future contractual costs associated with the impacted facilities, net of proceeds from any probable future sublease agreements. The Company utilized market data to determine the estimated proceeds from any future sublease agreements. The Company will continue to evaluate the estimates used in recording the facilities abandonment charge over the remaining lease period. Consequently, there may be additional reversals or charges relating to these facility closures in the future. The remaining liability related to these facility restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $1.8 as of March 31, 2018.

CEO transition costs

On January 25, 2018, the Company announced that Andrea Ayers will transition from her role as President and Chief Executive Officer (CEO) of Convergys. The Company and Ms. Ayers subsequently executed a Separation and Consulting Agreement, effective February 20, 2018. During the three months ended March 31, 2018, the Company recorded CEO transition costs of $7.3 associated with certain components of cash and equity-based compensation payable to Ms. Ayers in connection with her separation from the Company, as well as consulting fees associated with the Company’s search process to identify a successor CEO. This expense is included in Restructuring charges on the Consolidated Statements of Income. The compensation payments related to this expense are subject to the terms and conditions of the Separation and Consulting Agreement and the timing of such payments will, in some cases, depend on the timing of Ms. Ayers’ separation from the Company.

Other severance

During the first quarter of 2018, the Company recorded other severance expense of $0.9 primarily related to headcount reductions resulting from certain client program completions. These actions impacted approximately 345 employees. This severance expense is included in Restructuring charges on the Consolidated Statements of Income and was fully paid in cash by March 31, 2018.

2017 Restructuring

Company-wide restructuring program

During the first quarter of 2017, the Company recorded restructuring expenses of $12.8 related to a company-wide initiative to reduce headcount and better align the Company’s resources, principally for corporate functions. The 2017 restructuring actions impacted approximately 315 employees. This expense is included in Restructuring charges on the Consolidated Statements of Income and is expected to be substantially paid in cash by December 31, 2018. The total remaining liability under these restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $3.3 as of March 31, 2018 and $5.8 as of December 31, 2017.

Other severance

During 2017, the Company recorded other severance expense of $2.2 primarily related to headcount reductions resulting from certain client program completions. These actions impacted approximately 150 employees. This severance expense is included in Restructuring charges on the Consolidated Statements of Income and was fully paid in cash during 2017.

buw integration

During 2017, the Company recorded severance charges of $0.9 related to the elimination of certain redundant positions as a result of the integration of the buw business. This severance expense was included in Transaction and integration costs on the Consolidated Statements of Income and was fully paid in cash by March 31, 2018.

8. EMPLOYEE BENEFIT PLANS

Pensions

The Company sponsors a frozen defined benefit pension plan, which includes both a qualified and non-qualified portion, for all eligible employees in the U.S. (the cash balance plan) and unfunded defined benefit plans for certain eligible employees in the Philippines, Malaysia and France (together with the cash balance plan, the defined benefit plans).The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund. The Company’s measurement date for all plans is December 31. The plan assumptions are evaluated annually and are updated as deemed necessary.  

Components of pension cost and other amounts recognized in other comprehensive income for the Company’s defined benefit plans are as follows:

	Three Months Ended March 31,
	2018			2017
Service cost		$1.1			$1.4
Interest cost on projected benefit obligation	2.1			1.9
Expected return on plan assets	(2.2		)	(2.5		)
Amortization and deferrals—net	2.2			1.5
Total net pension cost		$3.2			$2.3

The Company also sponsors a non-qualified, unfunded executive deferred compensation plan (the EDCP), which permits eligible participants, including executive officers, to defer receipt of certain income. The Company matches up to 100% of the first 3% of a participant’s deferred amounts and 50% of a participant’s next 2% of deferred amounts.  The Company match under the EDCP is reduced by the Company match eligible to be received under the Company’s Retirement and Savings Plan.

Components of pension cost and other amounts recognized in other comprehensive loss for the EDCP are as follows:

	Three Months Ended March 31,
	2018		2017
Service cost		$0.4		$0.4
Interest cost on projected benefit obligation	0.1		0.1
Total pension cost		$0.5		$0.5

9. STOCK-BASED COMPENSATION PLANS

The Company’s operating results for the three months endedMarch 31, 2018 and 2017, included stock-based compensation expense of $5.3 and $4.3, respectively. Expense for the three months endedMarch 31, 2018 and 2017 included expense of $0.1 and an income adjustment of $0.1, respectively, related to awards classified as liabilities that will ultimately settle in cash. The income adjustment in the prior year reflected a revaluation of the awards classified as liabilities based on the trading price of the Company’s common stock.

Restricted Stock Units

Time-based Restricted Stock Units

During the three months endedMarch 31, 2018 and 2017, the Company granted 0.4 and 0.2 shares, respectively, of time-based restricted stock units. The weighted average grant date fair values of these grants were $23.32 and $22.70, respectively. These time-based grants are scheduled to vest 25% at the first anniversary of the grant date, 25% at the second anniversary and 50% at the third anniversary, with the exception of 0.2 granted in 2018 that are scheduled to vest 50% at the second anniversary and 50% at the third anniversary.

The total compensation cost related to non-vested time-based restricted stock units not yet recognized as of March 31, 2018 was approximately $24.4, which is expected to be recognized over a weighted average period of 2.4 years. Changes to non-vested time-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	1.3		23.46
Granted	0.4		23.32
Vested	(0.4	)	23.25
Forfeited	—		—
Non-vested at March 31, 2018	1.3			$23.45

Performance-based Restricted Stock Units

During the three months endedMarch 31, 2018 and 2017, the Company granted 0.1 and 0.1 shares, respectively, of performance-based restricted stock units. These grants provide for payout based upon the extent to which the Company achieves certain EPS targets, as determined by the Compensation and Benefits Committee of the Board of Directors, over three-year periods. Payout levels for earned shares range from 50% to 200% of award shares. No payout is earned if performance is below the minimum threshold performance level. At March 31, 2018, the targets for the third year of the 2017 grants and the second and third years of the 2018 grants had not yet been set, the key terms had not been effectively communicated to the recipients, and as such the expense related to these grants had not yet been recognized. These grants have been excluded from the table below.

During the first quarter of 2018, the Company established and communicated to participants the final key terms of the 2016 grants, resulting in grants for accounting purposes with a grant date fair value of $23.58 per share. The total compensation cost related to the 2016 non-vested performance-based restricted stock units not yet recognized as of March 31, 2018 was approximately $4.5, which is expected to be recognized ratably over the remaining vesting period ending in February 2019.

Changes to non-vested performance-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	0.3		21.28
Granted	0.2		23.58
Vested	(0.3	)	21.29
Forfeited	—		—
Non-vested at March 31, 2018	0.2			$23.58

Stock Options

Presented below is a summary of Company stock option activity. Prior to 2016, all outstanding stock options were fully vested and the related expense had been fully recognized.

Shares (in millions)	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Weighted Average Value at Date of Grant (per shares)
Options outstanding at December 31, 2017	0.3		$13.45	3.4		$3.86
Options exercisable at December 31, 2017	0.3		$13.45	3.4		$3.86
Granted	—	—
Exercised
Forfeited	—	—
Options outstanding at March 31, 2018	0.3		$13.45	3.2	$	3.86
Options exercisable at March 31, 2018	0.3		$13.45	3.2	$	3.86

10. COMMITMENTS AND CONTINGENCIES

Commitments

At March 31, 2018, the Company had outstanding letters of credit and bond obligations of $13.7 related to performance guarantees. The Company believes that any guarantee obligation that may arise will not be material. The Company also has future purchase commitments with telecommunication and transportation providers of $12.5 for the remainder of 2018.

Contingencies

The Company, from time to time, is subject to various loss contingencies, including tax and legal contingencies that arise in the ordinary course of business. The Company accrues for a loss contingency when it is probable that a liability has been incurred and the amount of such loss can be reasonably estimated. At this time, the Company believes that any such contingencies, either individually or in the aggregate, will not have a materially adverse effect on the Company’s results of operations or financial condition. However, the outcome of litigation cannot be predicted with certainty, and unfavorable resolution of one or more pending matters could have a materially adverse impact on the Company’s results of operations or financial condition in the future.

11. FINANCIAL INSTRUMENTS

Derivative Instruments

The Company is exposed to a variety of market risks, including the effects of changes in foreign currency exchange rates and interest rates. The Company’s risk management strategy includes the use of derivative instruments to reduce the effects on its operating results and cash flows from fluctuations caused by volatility in currency exchange rates.

The Company serves many of its U.S.-based clients using contact center capacity outside of the U.S. Although the contracts with these clients are typically priced in U.S. dollars, a substantial portion of the costs incurred to deliver services under these contracts are denominated in the local currency of the country where services are provided, which represents a foreign exchange exposure. The Company has hedged a portion of its exposure related to the anticipated cash flow requirements denominated in some of the aforementioned foreign currencies by entering into hedging contracts with several financial institutions to acquire a total of PHP 31,440.0 at a fixed price of $615.0 at various dates through December 2020, INR 9,645.0 at a fixed price of $133.4 at various dates through December 2020, CAD 56.1 at a fixed price of $42.8 at various dates through June 2020 and COP 56,400.0 at a fixed price of $18.5 at various dates through March 2020, and to sell a total of AUD 30.6 at a fixed price of $23.9 at various dates through September 2019. These instruments mature within the next 33 months and had a notional value of $819.6 at March 31, 2018 and $835.5 at December 31, 2017. The derivative instruments discussed above are designated and are effective as cash flow hedges. The following table reflects the fair values of these derivative instruments:

	March 31, 2018		December 31, 2017
Forward exchange contracts and options designated as hedging instruments:
Included within other current assets		$9.9		$14.5
Included within other non-current assets	2.7		8.7
Included within other current liabilities	18.8		7.7
Included within other long-term liabilities	6.6		1.7

The Company recorded a deferred tax benefit of $3.2 and deferred tax expense of $3.6 related to these derivatives at March 31, 2018 and December 31, 2017, respectively. A total of $9.7 of deferred losses, net of tax, related to these cash flow hedges were included in accumulated other comprehensive loss (OCL) at March 31, 2018, compared to $10.4 of deferred gains, net of tax, that were included in accumulated other comprehensive income (OCI) at December 31, 2017. As of March 31, 2018, deferred losses of $9.0 ($6.7 net of tax) on derivative instruments included in accumulated OCL are expected to be reclassified into earnings during the next 12 months. The following tables provide the effect of these derivative instruments on the Company’s Consolidated Financial Statements during the three months ended March 31, 2018 and 2017, respectively:

Three Months Ended March 31, 2018:

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCL on Derivative (Effective Portion)			Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)
Foreign exchange contracts		($29.0	)		($2.2	)	Cost of providing services and products sold and Selling, general and administrative

Three Months Ended March 31, 2017:

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCL on Derivative (Effective Portion)		Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)
Foreign exchange contracts		$9.8		($7.7	)	Cost of providing services and products sold and Selling, general and administrative

The gain or loss recognized related to the ineffective portion of the derivative instruments was immaterial for the three months endedMarch 31, 2018 and 2017.

The Company also enters into derivative instruments (forwards) to economically hedge the foreign currency impact of assets and liabilities denominated in nonfunctional currencies. During the three months endedMarch 31, 2018, a loss of $3.9 was recognized related to changes in fair value of these derivative instruments not designated as hedges, compared to a loss of $2.6 in the same period in 2017. The gains and losses largely offset the currency gains and losses that resulted from changes in the assets and liabilities denominated in nonfunctional currencies. These gains and losses are classified within other income, net in the accompanying Consolidated Statements of Income. The fair value of these derivative instruments not designated as hedges at March 31, 2018, was a $0.2 receivable.

Short-term Investments

As of March 31, 2018 and December 31, 2017, the Company held investment securities with a fair value of $13.1 and $13.5, respectively, that are held in a grantor trust for the benefit of participants in the EDCP and reflect the hypothetical investment balances of EDCP participants. The securities are classified as trading securities and included within short-term investments in the Consolidated Balance Sheets. The investment securities include exchange-traded mutual funds and money market accounts. These securities are carried at fair value, with gains and losses, both realized and unrealized, reported in other (expense) income, net in the Consolidated Statements of Income. The cost of securities sold is based upon the specific identification method. Interest and dividends on securities classified as trading are included in other (expense) income, net.

12. FAIR VALUE MEASUREMENTS

U.S. GAAP defines a hierarchy which prioritizes the inputs in measuring fair value. The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

At March 31, 2018 and December 31, 2017, the Company had foreign currency forward contracts measured at fair value. The fair values of these instruments were measured using valuations based upon quoted prices for similar assets and liabilities in active markets (Level 2) and are valued by reference to similar financial instruments, adjusted for terms specific to the contracts. There were no transfers between the three levels of the fair value hierarchy during the years ended March 31, 2018 and March 31, 2017. The derivative assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 were as follows:

	March 31, 2018		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivatives:
Foreign currency forward contracts (asset position)		$13.0		$—		$13.0		$—
Foreign currency forward contracts (liability position)		$25.8		$—		$25.8		$—

	December 31, 2017		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivatives:
Foreign currency forward contracts (asset position)		$24.2		$—		$24.2		$—
Foreign currency forward contracts (liability position)		$19.2		$—		$19.2		$—

The Company also had investment securities held in a grantor trust for the benefit of participants of the EDCP measured at fair value at March 31, 2018 and December 31, 2017. These investments are recorded as short-term investments on the Consolidated Balance Sheets. The fair value of these instruments was measured using the quoted prices in active markets for identical assets (Level 1). There were no transfers between the three levels of the fair value hierarchy during the years ended March 31, 2018 and March 31, 2017. The assets measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 were as follows:

	March 31, 2018		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities:
Mutual funds		$12.1		$12.1		$—		$—
Money market accounts	1.0		1.0		—		—
Total		$13.1		$13.1		$—		$—

	December 31, 2017		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities:
Mutual funds		$12.4		$12.4		$—		$—
Money market accounts	1.1		1.1		—		—
Total		$13.5		$13.5		$—		$—

13. INCOME TAXES

The effective tax rate on net income from continuing operations was a benefit of 1.0% for the three months ended March 31, 2018 compared to expense of 15.4% in the same period last year. The effective tax rate for the three months ended March 31, 2018 was favorably impacted by a net benefit of $8.6 resulting from the resolution of certain tax audits. The effective tax rate for the three months ended March 31, 2018 was also impacted by the geographic mix of worldwide income and the accrual of withholding taxes on the repatriation of current period earnings. In the fourth quarter of 2017, the Company recorded an estimated net discrete tax charge of $34.1 related to the Tax Cuts and Jobs Act (the 2017 Tax Act) that was accounted for as a provisional charge in accordance with Staff Accounting Bulletin No. 118. During the three months ended March 31, 2018, the Company recorded an adjustment of $1.4 to recognize the imposition of the new minimum tax on global intangible income, which the Company accounts for as a period cost. The Company continues to analyze the impacts of the 2017 Tax Act; therefore, the 2017 charge continues to be provisional.

As of March 31, 2018 and December 31, 2017, the liability for unrecognized tax benefits was $10.1 and $21.3, respectively, and is included in other long-term liabilities in the accompanying Consolidated Balance Sheets. As of March 31, 2018, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the Consolidated Financial Statements is $8.6. This amount includes net interest and penalties of $3.8. It is reasonably possible that the total amount of unrecognized tax benefits will decrease between approximately $1.3 and $5.5 in the next twelve months; however, actual developments in this area could differ from those currently expected.

14. PAYABLES AND OTHER CURRENT LIABILITIES

	At March 31, 2018		At December 31, 2017
Payables and other current liabilities:
Accounts payable		$53.8		$41.3
Accrued income and other taxes	27.1		41.9
Accrued payroll-related expenses	119.7		131.6
Derivative liabilities	19.1		17.6
Accrued expenses, other	61.7		63.5
Restructuring and exit costs	14.5		8.7
Deferred revenue and government grants	13.7		17.5
		$309.6		$322.1

15. ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss):

		Foreign Currency			Derivative Financial Instruments			Pension Liability			Total
Balance at December 31, 2016			($56.6	)		($25.5	)		($31.7	)		($113.8	)
	Other comprehensive income before reclassifications, net of tax	3.0			6.0			—			9.0
	Amounts reclassified from accumulated other comprehensive income, net of tax	—			4.7			0.9			5.6
Net current-period other comprehensive income		3.0			10.7			0.9			14.6
Balance at March 31, 2017			($53.6	)		($14.8	)		($30.8	)		($99.2	)
Balance at December 31, 2017			($35.4	)		$10.4			($41.6	)		($66.6	)
	Other comprehensive income (loss) before reclassifications, net of tax	6.4			(21.7		)	(6.0		)	(21.3		)
	Amounts reclassified from accumulated other comprehensive income, net of tax	—			1.6			1.5			3.1
Net current-period other comprehensive income (loss)		6.4			(20.1		)	(4.5		)	(18.2		)
Balance at March 31, 2018			($29.0	)		($9.7	)		($46.1	)		($84.8	)

The following table summarizes the reclassification out of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)						Affected Line Item in the Consolidated Statements of Income
	Three Months Ended March 31,
	2018			2017
Loss on derivative instruments		($2.2	)		($7.7	)	Cost of providing services and products sold and Selling, general and administrative
Tax benefit	0.6			3.0			Income tax expense
Loss on derivative instruments, net of tax	(1.6		)	(4.7		)	Income from Continuing Operations, net of tax
Adjustments of pension and other post employment obligations	(2.0		)	(1.5		)	Selling, general and administrative
Tax benefit	0.5			0.6			Income tax expense
Adjustment of pension and other post employment obligations, net of tax	(1.5		)	(0.9		)	Income from Continuing Operations, net of tax
Total reclassifications for the period		($3.1	)		($5.6	)

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS

OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

(Amounts in millions except per share amounts)

BACKGROUND

Convergys Corporation (Convergys, the Company or we) is a global leader in customer experience outsourcing, focused on bringing value to our clients through every customer interaction. We provide integrated agent, analytics and technology solutions with operational excellence that we believe deliver superior business growth, care and support for our clients on a global scale. Convergys has approximately 110,000 employees working in 33 countries, interacting with our clients’ customers in 58 languages. As a global provider in the industry, Convergys has a history of commitment and dedication to excellence in serving many of the world’s largest brands. Our business model allows us to deliver consistent, quality service, at scale in the geographies that meet our clients’ business needs. We proactively partner to solve client business challenges through our account management model. Our geographic footprint and comprehensive capabilities help leading companies create brand-differentiated customer experiences across all interaction channels to generate revenue and reduce their cost to serve. We are a well-capitalized leader in our market and are able to invest in the services, technology, and analytics that matter to our clients and their customers.

Operations and Structure

We believe our global clients benefit from our worldwide workforce located in key geographies, including the United States, the Philippines, India, Germany, the United Kingdom, Canada, Tunisia, Costa Rica, the Dominican Republic, Colombia, Egypt, France, Ireland, Italy, Poland, Romania, China, Malaysia, El Salvador, Honduras, Nicaragua, Bulgaria, Hungary, the Netherlands, Spain, Sweden, Australia, Brazil, Indonesia, Mauritius, Singapore, South Africa, and the United Arab Emirates.

More than 95% of the Company’s revenues are derived from fees for customer experience outsourcing services provided to the Company’s clients. The Company recognizes these revenues over time as services are performed based on the volumes of services provided and contractual rates. The Company’s remaining revenues, which represent less than 5% of the Company’s total revenues, are derived from the sale of premise-based and hosted self-care and technology solutions and provision of professional services. Revenues from the sale of these solutions and provision of these services are recognized over time as solutions or services are provided over the duration of the contract, using contractual rates. These contracts are typically one year or less in duration.

Additional Information

The Company files annual, quarterly and current reports and proxy statements with the SEC. These filings are available to the public over the Internet on the SEC’s website at http://www.sec.gov and on the Company’s website at http://www.convergys.com. The Company’s website and the information contained therein are not incorporated by reference into this quarterly report. You may also read and copy any document we file with the SEC at its public reference room located at 100 F Street, N.E., Washington, DC 20549. You may call the SEC at 1-800-SEC-0330 for further information on the operation of the public reference room. 

FORWARD-LOOKING STATEMENTS

This report contains statements, estimates, or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. In some cases, one can identify forward looking statements by terminology such as “will,” “expect,” “estimate,” “think,” “forecast,” “guidance,” “outlook,” “plan,” “lead,” “project” or other comparable terminology. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from our historical experience and our present expectations or projections. These risks include, but are not limited to: (i) adverse effects of our Board of Directors’ search for a new Chief Executive Officer, including the risk that a protracted search could affect our ability to attract and retain clients and employees; (ii) the loss of a significant client or significant business from a client; (iii) the future financial performance or outsourcing trends of our largest clients and the major industries that we serve, including continued volatility in volumes with our largest communications and technology clients; (iv) contractual provisions that may limit our profitability or enable our clients to reduce or terminate services; (v) our failure to successfully acquire and integrate businesses; (vi) our inability to protect proprietary or personally identifiable data against unauthorized access or unintended release; (vii) the effects of complying with the European Union’s General Data Protection Regulation, the Philippines’ Data Privacy Act and other jurisdiction-specific data privacy requirements, including increased expenses, operational and contractual changes, and diversion of resources; (viii) our inability to maintain and upgrade our technology and network equipment in a timely and cost effective manner; (ix) business and political risks related to our global operations, including ongoing political developments in the Philippines, uncertainty regarding the impact of Britain’s vote to leave the European Union (“Brexit”) or other similar actions by European Union member states, and economic weakness and operational disruption as a result of natural events, political unrest, war, terrorist attacks or other civil disruption; (x) the effects of foreign currency exchange rate fluctuations; (xi) the failure to establish appropriate tax provisions for uncertain tax liabilities, changes in tax laws, regulations or regulatory guidance that increase our future tax liabilities, including regulations implementing the 2017 Tax Act, or the unfavorable resolution of tax contingencies; (xii) adverse effects of regulatory requirements or changes thereto, investigative and legal actions, and other commitments and contingencies; (xiii) costs associated with conversions of our convertible debentures that may occur from time to time; (xiv) our inability to effectively manage our contact center capacity or attract and retain employees at competitive wages and (xv) those factors contained in our periodic reports filed with the SEC, included in the “Risk Factors” section of our most recent Annual Report on Form 10-K. The forward-looking information in this document is given as of the date of the particular statement and we assume no duty to update this information.

RESULTS OF OPERATIONS

Revenues

	Three Months Ended March 31,
	2018		2017		Change		%
Revenues:
Communications		$287.2		$336.8	(49.6	)	(15	)
Technology	148.9		156.5		(7.6	)	(5	)
Retail	76.4		66.4		10.0		15
Financial Services	74.7		77.9		(3.2	)	(4	)
Healthcare	51.4		51.4		—		—
Other	35.6		38.6		(3.0	)	(8	)
Total Revenues		$674.2		$727.6	(53.4	)	(7	)

Consolidated revenues for the first quarter of 2018 were $674.2, a 7% decrease from $727.6 in the same period in the prior year. Changes in currency exchange rates increased revenues by approximately 2.5% in the current quarter as the U.S. dollar weakened relative to the euro and British pound. Revenues from communications clients decreased 15% from the first quarter of 2017, reflecting a shift to lower-cost geographies and volume decreases with several of our largest clients. These decreases were partially offset by favorable currency exchange rate impacts and increased volume with other certain clients, particularly in Europe. Revenues from technology clients decreased 5% from the first quarter of 2017, reflecting volume decreases with certain existing clients, partially offset by favorable currency exchange rate impacts and volume increases with certain existing clients. Revenues from retail clients increased 15% from the first quarter of 2017, reflecting volume increases with several existing clients and revenues from new clients. Revenues from financial services clients decreased 4% from the first quarter of 2017, reflecting volume decreases with certain clients, partially offset by revenues from a new client and volume increases with an existing client. Revenues from healthcare clients were consistent with the first quarter of 2017. Revenues from all other clients decreased 8% from the first quarter of 2017, primarily as a result of the loss of an automotive client.

Operating Costs and Expenses

	Three Months Ended March 31,
	2018		2017		Change		%
Operating Costs:
Cost of providing services and products sold		$417.7		$450.2	(32.5	)	(7	)
Selling, general and administrative	172.4		177.5		(5.1	)	(3	)
Depreciation	23.8		27.4		(3.6	)	(13	)
Amortization	6.9		7.2		(0.3	)	(4	)
Restructuring	18.9		15.0		3.9		26
Transaction and integration costs	—		1.5		(1.5	)	(100	)
Total costs and expenses		$639.7		$678.8	(39.1	)	(6	)

Total operating costs and expenses for the first quarter of 2018 of $639.7 decreased 6% from $678.8 in the same period in the prior year. Changes in currency exchange rates increased operating costs and expenses by approximately 2% in the current quarter. As a percentage of revenues, the cost of providing services and products sold was 62.0% in the first quarter of 2018, consistent with 61.9% in the prior year quarter. Selling, general and administrative expenses of $172.4 in the first quarter of 2018 decreased by 3% compared to the prior year quarter as a result of savings realized from the Company’s restructuring initiatives over the past year, partially offset by unfavorable currency exchange impacts. As a percentage of revenues, selling, general, and administrative cost was 25.6% in the first quarter of 2018 compared to 24.4% in the prior year period. Depreciation expense of $23.8 decreased $3.6 from the prior year quarter, while amortization expense of $6.9 decreased $0.3. The decrease in depreciation expense resulted from the timing of certain assets becoming fully depreciated, as well as lower depreciation from the fair value write-up of property and equipment acquired through business combinations. The Company incurred restructuring expense of $18.9 during the first quarter of 2018, primarily related to CEO transition costs as well as company-wide initiatives to reduce headcount and consolidate certain contact centers to streamline the Company’s operations. Restructuring expense during the first quarter of 2017 primarily related to a $12.8 charge associated with a company-wide initiative to reduce headcount and better align the Company’s resources, principally for corporate functions.

Operating Income and Adjusted Operating Income (a non-GAAP measure)

In order to assess the underlying operational performance of the continuing operations of the business and to have a basis to compare underlying results to prior and future periods, we provide the non-GAAP measures, Adjusted Operating Income and Adjusted Operating Margin (Adjusted Operating Income divided by Total Revenues), in the table below. For the three months endedMarch 31, 2018 and 2017, Adjusted Operating Income and Adjusted Operating Margin exclude the following operating charges:

1. Amortization of acquired intangible assets of $6.9 and $7.2 for the three months endedMarch 31, 2018 and 2017, respectively;

2. Restructuring charges of $10.7 for the three months ended March 31, 2018, related to company-wide initiatives to reduce headcount and consolidate certain contact centers to streamline the Company’s operations; restructuring charges of $12.8 for the three months ended March 31, 2017, associated with a company-wide initiative to reduce headcount and better align the Company’s resources, principally for corporate functions;

3. CEO transition costs of $7.3 for the three months endedMarch 31, 2018;

4. Acquisition integration expenses of $1.5 for the three months endedMarch 31, 2017, primarily related to fees for third-party consulting services and severance expense;

5. Depreciation of $0.6 and $1.0 for the three months endedMarch 31, 2018 and 2017, respectively, resulting from the fair value write-up of property and equipment acquired through business combinations.

Adjustments for these items are relevant in evaluating the overall performance of the business. Limitations associated with the use of these non-GAAP measures include that these measures do not present all of the amounts associated with our results as determined in accordance with GAAP. Management compensates for this limitation by using both the non-GAAP measures and the GAAP measures in its evaluation of performance. These non-GAAP measures should be considered supplemental in nature and should not be construed as being more important than comparable GAAP measures.

	Three Months Ended March 31,
	2018			2017			Change		%
Operating Income		$34.5			$48.8		(14.3	)	(29	)
Operating Margin	5.1		%	6.7		%
Amortization of acquired intangible assets	6.9			7.2			(0.3	)	(4	)
Company-wide restructuring	10.7			12.8			(2.1	)	(16	)
CEO transition costs	7.3			—			7.3		100
Integration-related expenses	—			1.5			(1.5	)	(100	)
Depreciation of property & equipment write-up	0.6			1.0			(0.4	)	(40	)
Adjusted Operating Income (a non-GAAP measure)		$60.0			$71.3		(11.3	)	(16	)
Adjusted Operating Margin	8.9		%	9.8		%

Operating income was $34.5 for the first quarter of 2018 compared to operating income of $48.8 in the prior year period. Excluding the impacts of the operating charges discussed above, adjusted operating income for the first quarter of 2018 was $60.0 compared to $71.3 in the same period in the prior year.

Non-Operating Items

	Three Months Ended March 31,
	2018			2017			Change		%
Operating Income		$34.5			$48.8		(14.3	)	(29	)
Other (expense) income, net	(0.5		)	1.3			(1.8	)	NM
Interest expense	(4.5		)	(5.3		)	0.8		(15	)
Income before Income Taxes		$29.5			$44.8		(15.3	)	(34	)

Other income decreased by $1.8 compared to the same period in the prior year primarily due to a $1.7 foreign currency exchange gain in the first quarter of 2017. Interest expense decreased by $0.8 compared to the same period in the prior year, primarily due to a $1.0 extinguishment loss incurred during the first quarter of 2017.

Income Taxes

	Three Months Ended March 31,
	2018			2017		Change		%
Income before Income Taxes		$29.5			$44.8	(15.3	)	(34	)
Income tax (benefit) expense	(0.3		)	6.9		(7.2	)	NM
Net Income		$29.8			$37.9	(8.1	)	(21	)

The effective tax rate on net income from continuing operations was a benefit of 1.0% for the three months ended March 31, 2018 compared to expense of 15.4% in the same period last year. The effective tax rate for the first quarter of 2018 was primarily impacted by a net benefit of $8.6 resulting from the resolution of certain tax audits. The effective tax rate for the first quarter of 2018 was also impacted by the geographic mix of worldwide income, the accrual of withholding taxes on the repatriation of current period earnings and the new minimum tax on global intangible income. The effective tax rate for the first quarter of 2017 was primarily impacted by the geographic mix of worldwide income.

Net Income from Continuing Operations; Earnings per Diluted Share from Continuing Operations; Adjusted Net Income from Continuing Operations (a non-GAAP measure); Adjusted Earnings per Diluted Share from Continuing Operations (a non-GAAP measure)

In order to assess the underlying operational performance of the continuing operations of the business, we provide non-GAAP measures in the tables below that exclude, in addition to the operating charges discussed above, the following:

1. Net tax benefit of $8.6 for the three months ended March 31, 2018, resulting from the favorable resolution of certain tax audits.

We use income from continuing operations, net of tax and earnings per share data excluding the operating charges and discrete tax items discussed above to assess the underlying operational performance of the continuing operations of the business and to have a basis to compare underlying results to prior and future periods. Adjustments for these items are relevant in evaluating the overall performance of the business. Limitations associated with the use of these non-GAAP measures include that these measures do not present all of the amounts associated with our results as determined in accordance with GAAP. Management compensates for these limitations by using the non-GAAP measures, income from continuing operations, net of tax and diluted earnings per share excluding these items, and the GAAP measures, income from continuing operations, net of tax and diluted earnings per share, in its evaluation of performance. These non-GAAP measures should be considered supplemental in nature and should not be construed as being more important than comparable GAAP measures.

	Three Months Ended March 31,
	2018			2017			Change		%
Net Income		$29.8			$37.9		(8.1	)	(21	)
Total operating charges from above	25.5			22.5			3.0		13
Income tax impact from total operating charges	(6.3		)	(8.3		)	2.0		(24	)
Release of uncertain tax positions	(8.6		)	—			(8.6	)	100
Adjusted Net Income (a non-GAAP measure)		$40.4			$52.1		(11.7	)	(22	)
Diluted Earnings per Common Share:
Diluted Earnings per Common Share		$0.30			$0.38		(0.08	)	(21	)
Impact of net charges above, net of tax	0.11			0.14			(0.03	)	(21	)
Adjusted diluted earnings per common share (a non-GAAP measure)		$0.41			$0.52		(0.11	)	(21	)

Income from continuing operations, net of tax for the first quarter of 2018 was $29.8 compared to $37.9 for the same period in 2017, while income from continuing operations per diluted share for the first quarter in 2018 was $0.30 compared to $0.38 for the same period in 2017. Excluding the operating charges discussed above and the income tax impact from these charges, as well as the tax benefit resulting from the release of uncertain tax positions in the first quarter of 2018, adjusted income from continuing operations, net of tax for the first quarter of 2018 was $40.4, or $0.41 per diluted share, compared to $52.1, or $0.52 per diluted share for the same period in 2017.

EBITDA and Adjusted EBITDA (non-GAAP measures)

Management uses EBITDA, EBITDA margin (EBITDA divided by Total Revenues), Adjusted EBITDA, Adjusted EBITDA margin (Adjusted EBITDA divided by Total Revenues) and the GAAP measure, income from continuing operations, net of tax, to monitor and evaluate the underlying performance of the business and believes the presentation of these measures enhances investors’ ability to analyze trends in the business and evaluate our underlying performance relative to other companies in the industry. EBITDA and Adjusted EBITDA should not be considered in isolation or as a substitute for income from continuing operations, net of tax, or other income statement data prepared in accordance with GAAP, and our presentation of EBITDA and adjusted EBITDA may not be comparable to similarly-titled measures used by other companies. These non-GAAP measures should be considered supplemental in nature and should not be construed as being more important than comparable GAAP measures.

	Three Months Ended March 31,
	2018			2017
Income from Continuing Operations, net of tax		$29.8			$37.9
Depreciation and Amortization	30.7			34.6
Interest expense	4.5			5.3
Income tax (benefit) expense	(0.3		)	6.9
EBITDA (a non-GAAP measure)	64.7			84.7
Company-wide restructuring	10.7			12.8
CEO transition costs	7.3			—
Integration-related expenses	—			1.5
Adjusted EBITDA (a non-GAAP measure)		$82.7			$99.0
EBITDA Margin	9.6		%	11.6		%
Adjusted EBITDA Margin	12.3		%	13.6		%

RESTRUCTURING CHARGES

As discussed in Note 7 of the Notes to Consolidated Financial Statements, we recorded the following restructuring charges:

2018 Restructuring

Company-wide restructuring program

During the first quarter of 2018, the Company initiated a restructuring plan to reduce headcount and consolidate certain contact centers to streamline the Company’s operations. This resulted in a total charge of $10.7, comprised of $5.0 of severance expense associated with headcount reductions and $5.7 of facility-related charges. This expense is included in Restructuring charges on the Consolidated Statements of Income.

The headcount reductions impacted approximately 350 employees and the related severance is expected to be substantially paid in cash by September 30, 2018. The remaining severance liability resulting from these restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $3.8 as of March 31, 2018.

The facility-related charges are associated with five site closures and primarily represent the present value of contractually obligated future minimum lease payments and the full impairment of certain abandoned property and equipment. The fair value of these facility obligations was determined using the income approach through a discounted cash flow analysis, based on estimated future contractual costs associated with the impacted facilities, net of proceeds from any probable future sublease agreements. The Company utilized market data to determine the estimated proceeds from any future sublease agreements. The Company will continue to evaluate the estimates used in recording the facilities abandonment charge over the remaining lease period. Consequently, there may be additional reversals or charges relating to these facility closures in the future. The remaining liability related to these facility restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $1.8 as of March 31, 2018.

CEO transition costs

On January 25, 2018, the Company announced that Andrea Ayers will transition from her role as President and Chief Executive Officer (CEO) of Convergys. The Company and Ms. Ayers subsequently executed a Separation and Consulting Agreement, effective February 20, 2018. During the three months ended March 31, 2018, the Company recorded CEO transition costs of $7.3 associated with certain components of cash and equity-based compensation payable to Ms. Ayers in connection with her separation from the Company, as well as consulting fees associated with the Company’s search process to identify a successor CEO. This expense is included in Restructuring charges on the Consolidated Statements of Income. The compensation payments related to this expense are subject to the terms and conditions of the Separation and Consulting Agreement and the timing of such payments will, in some cases, depend on the timing of Ms. Ayers’ separation from the Company.

Other severance

During the first quarter of 2018, the Company recorded other severance expense of $0.9 primarily related to headcount reductions resulting from certain client program completions. These actions impacted approximately 345 employees. This severance expense is included in Restructuring charges on the Consolidated Statements of Income and was fully paid in cash by March 31, 2018.

2017 Restructuring

Company-wide restructuring program

During the first quarter of 2017, the Company recorded restructuring expenses of $12.8 related to a company-wide initiative to reduce headcount and better align the Company’s resources, principally for corporate functions. The 2017 restructuring actions impacted approximately 315 employees. This expense is included in Restructuring charges on the Consolidated Statements of Income and is expected to be substantially paid in cash by December 31, 2018. The total remaining liability under these restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $3.3 as of March 31, 2018 and $5.8 as of December 31, 2017.

Other severance

During 2017, the Company recorded other severance expense of $2.2 primarily related to headcount reductions resulting from certain client program completions. These actions impacted approximately 150 employees. This severance expense is included in Restructuring charges on the Consolidated Statements of Income and was fully paid in cash during 2017.

buw integration

During 2017, the Company recorded severance charges of $0.9 related to the elimination of certain redundant positions as a result of the integration of the buw business. This severance expense was included in Transaction and integration costs on the Consolidated Statements of Income and was fully paid in cash by March 31, 2018.

Savings from Restructuring Plans

The 2018 company-wide restructuring program is expected to result in cost reductions and cash savings of approximately $11.0 on an annualized basis. Savings associated with the 2017 restructuring programs were estimated to be cost reductions of approximately $21.0 and cash savings of approximately $19.0 on an annualized basis. The impact of the cost reductions for all of these programs will be spread across our operating expenses, primarily in selling, general and administrative expense on the Consolidated Statements of Income. The impact on liquidity was not material for any of our restructuring plans.

CLIENT CONCENTRATION

During the first three months of 2018, our three largest clients accounted for 26.0% of our consolidated revenues, compared to 31.2% in the same period of 2017. Our largest client, AT&T, accounted for 13.7% of our consolidated revenues in the first three months of 2018 and 18.2% of revenue in the same period in the prior year. No other client accounted for more than 10% of our consolidated revenues for the first three months of 2018 and 2017. Revenues with our three largest clients are earned under multiple contracts and are subject to variation based on, among other things, general economic conditions, client outsourcing trends, geographical mix of where services are provided and seasonal patterns in our clients’ businesses.

FINANCIAL CONDITION, LIQUIDITY AND CAPITAL RESOURCES

Liquidity and Cash Flows

We believe that we have adequate liquidity from cash on hand and expected future cash flows to fund operations, invest in the business, make required debt payments, pay dividends at the discretion of the Board of Directors, and pay the one-time transition tax imposed by the 2017 Tax Act. We also believe that available borrowings under existing credit facilities provide additional liquidity that can be used to invest in the business.

Cash flows from operating activities generally provide us with a significant source of funding for our investing and financing activities. Cash flows from operating activities totaled $12.7 in the firstthree months of 2018, compared to $32.9 in the same period last year. The current quarter included payments of $9.7 related to non-U.S. taxes for the repatriation of certain non-U.S. cash balances as of December 31, 2017. The prior year quarter included payments of $1.7 for integration-related expenses. Excluding these items, cash flows provided by operating activities totaled $22.4 and $34.6 for the three months ended March 31, 2018 and 2017, respectively. The decrease in cash flows was primarily a result of a $12.7 increase in U.S. federal taxes paid during the first quarter of 2018 compared to the first quarter of 2017.

Cash flows used in investing activities were $5.9 and $8.9 during the first three months of 2018 and 2017, respectively, resulting from capital expenditures during those periods.  

Cash flows used in financing activities were $14.2 during the first three months of 2018, compared to $14.3 of cash provided in the same period in 2017. Activity in the current year included net repayment of long-term debt of $51.1 and net proceeds of amounts drawn under the asset securitization facility of $62.0. Additionally, we settled in cash the repurchase of 0.7 of the Company’s common shares for $15.9. We also paid $9.2 in cash dividends. During the first three months of 2017, we repaid long-term debt of $115.7 and net proceeds of amounts drawn under the asset securitization facility totaled $160.0. Additionally, we settled in cash the repurchase of 0.9 of the Company’s common shares for $21.5 and paid $8.5 in cash dividends.

Free Cash Flow and Adjusted Free Cash Flow (non-GAAP measures)

We use free cash flow and adjusted free cash flow, which are non-GAAP measures, to assess the financial performance of the Company. We define free cash flow as cash flows from operating activities less capital expenditures, and adjusted free cash flow as free cash flow less expenditures associated with investment activity to expand or improve our business. A reconciliation of the GAAP measure, net cash provided by operating activities, to the non-GAAP measures, free cash flow and adjusted free cash flow, is as follows: 

	Three Months Ended March 31,
	2018			2017
Net cash flow provided by operating activities under U.S. GAAP		$12.7			$32.9
Capital expenditures, net of proceeds from disposal of assets	(5.9		)	(8.9		)
Free cash flow (a non-GAAP measure)		$6.8			$24.0
Non-U.S. tax paid related to repatriation of non-U.S. cash as of December 31, 2017 (A)	9.7			—
Acquisition - cash paid for transaction and integration-related expenses (B)	—			1.7
Adjusted free cash flow (a non-GAAP measure)		$16.5			$25.7

(A) Cash payments associated with non-U.S. withholding taxes resulting from the Company's repatriation of certain non-U.S. cash balances accumulated as of December 31, 2017.

(B) Payments associated with investment activity for acquisition related items.

Adjusted free cash flow was $16.5 for the three months endedMarch 31, 2018, compared to $25.7 for the same period in 2017. The decrease of $9.2 from the prior year is primarily a result of a $12.7 increase in U.S. federal taxes paid during the first quarter of 2018 compared to the first quarter of 2017.

We believe that free cash flow and adjusted free cash flow are useful to investors because they present the operating cash flow of the Company, excluding the capital that is spent to continue and improve business operations, such as investment in the Company’s existing business. Further, free cash flow and adjusted free cash flow provide an indication of the ongoing cash that is available for debt repayment, returning capital to shareholders and other opportunities. We also believe the presentation of these measures enhances investors’ ability to analyze trends in the business and evaluate the Company’s underlying performance relative to other companies in the industry. Limitations associated with the use of free cash flow and adjusted free cash flow include that they do not represent the residual cash flow available for discretionary expenditures as they do not incorporate certain cash payments, including payments made on capital lease obligations or cash payments for business acquisitions. Management compensates for these limitations by utilizing the non-GAAP measures, free cash flow and adjusted free cash flow, and the GAAP measure, cash flows from operating activities, in its evaluation of performance.

Capital Resources, Off-Balance Sheet Arrangements and Contractual Commitments

At March 31, 2018, total capitalization was $1,713.7, consisting of $280.3 of short-term and long-term debt and capital lease obligations, $1,374.4 of equity and $59.0 of temporary equity associated with the convertible debentures conversion feature. At December 31, 2017, total capitalization was $1,705.8, consisting of $268.6 of short-term and long-term debt and capital lease obligations, $1,377.7 of equity and $59.5 of temporary equity associated with the convertible debentures conversion feature. The total debt-to-capital ratio at March 31, 2018 was 16.4%, compared to 15.7% at December 31, 2017.

On January 11, 2017 (the Effective Date), the Company entered into a new credit agreement (Credit Agreement) and repaid all amounts outstanding and terminated all commitments under its previously existing credit agreement (Prior Credit Agreement) using initial borrowings under the Credit Agreement as well as borrowings under the Company’s asset securitization facility. The Credit Agreement consists of a $215.0 unsecured term loan facility (Term Loan), maturing on March 3, 2019, and a $300.0 unsecured revolving credit facility (Revolving Credit Facility), maturing on January 11, 2022. On the Effective Date, the Company drew $100.0 in initial borrowings under the Term Loan. A $1.0 extinguishment loss was recognized on the Effective Date and is included in Interest expense on the Consolidated Statement of Income for the three months ended March 31, 2017.

The Revolving Credit Facility may be extended for two additional one-year periods, subject to the satisfaction of certain conditions set forth in the Credit Agreement. In addition, aggregate borrowing capacity under the Credit Agreement may be increased by up to an additional $250.0 million by increasing the amount of the Revolving Credit Facility or by incurring additional term loans, in each case subject to the satisfaction of certain conditions set forth in the Credit Agreement, including the receipt of additional commitments for such increase. Borrowings outstanding under the Credit Agreement may be repaid from time to time without premium or penalty, other than customary breakage costs, if any.  Borrowings outstanding under the Credit Agreement bear interest at a fluctuating rate per annum equal to, at the Company’s option, either (a) the applicable adjusted LIBOR plus a spread based on the Company’s total net leverage ratio, or (b) a base rate (equal to the higher of the Administrative Agent’s prime rate, the federal fund rate plus 0.50%, and the one-month adjusted LIBOR plus 1.0%) plus a spread based on the Company’s total net leverage ratio. The Company is also obligated to pay a commitment fee on a quarterly basis on the unused portion of the commitments under the Revolving Credit Facility based on the Company’s total net leverage ratio, which fee is currently 25 basis points. While amounts borrowed and repaid under the Revolving Credit Facility can be re-borrowed, amounts repaid under the Term Loan cannot be borrowed again under the Credit Agreement. The Credit Agreement contains certain affirmative and negative covenants, as well as terms and conditions that are customary for credit facilities of this type, including financial covenants for leverage and interest coverage ratios. The Company was in compliance with all covenants at March 31, 2018. Total borrowing capacity remaining under the Revolving Credit Facility was $300.0, with $50.0 outstanding on the Term Loan, as of March 31, 2018. The carrying value of the Term Loan at March 31, 2018 reflects a discount of $0.4 related to fees paid directly to the lenders at issuance. This discount is being amortized over the life of the Term Loan using the effective interest rate method (4.0% as of March 31, 2018), and is included in interest expense in the Consolidated Statements of Income. Subsequent to March 31, 2018, the Company fully repaid the $50.0 outstanding balance on the Term Loan.

The Company established the Prior Credit Agreement on February 28, 2014 in the aggregate amount of $650.0. The Prior Credit Agreement consisted of unsecured term loans (Prior Term Loan) in the initial aggregate amount of $350.0, and an unsecured revolving credit facility (Prior Revolving Credit Facility) in the amount of $300.0. The Prior Term Loan and the Prior Revolving Credit Facility were scheduled to mature on March 3, 2019. Outstanding amounts were subject to interest at the applicable rate described in the Prior Credit Agreement.

During 2009, Convergys issued $125.0 aggregate principal amount of 5.75% Junior Subordinated Convertible Debentures due September 2029 (2029 Convertible Debentures) in exchange for $122.5 of 4.875% Unsecured Senior Notes due December 15, 2009, pursuant to an exchange offer. The entire balance of the 2029 Convertible Debentures remained outstanding and was convertible at the option of the holders as of March 31, 2018 and December 31, 2017.

During January 2017, the Company amended the terms of its asset securitization facility collateralized by accounts receivable of certain of the Company’s subsidiaries. The amendment resulted in an increased purchase limit of $225.0, with $90.0 and $135.0 expiring in January 2018 and January 2020, respectively. The asset securitization facility was further amended in January 2018 to extend the expiration date for the $90.0 purchase limit to January 2019. The asset securitization program is conducted through Convergys Funding Inc., a wholly-owned bankruptcy remote subsidiary of the Company. As of March 31, 2018 and December 31, 2017, Convergys had drawn $165.0 and $103.0, respectively, in available funding from qualified receivables. Amounts drawn under this facility have been classified as long-term debt within the Consolidated Balance Sheets, based on the Company’s ability and intent to refinance on a long-term basis as of March 31, 2018.

During the first quarter of 2018, we repurchased 0.7 of our common shares for $16.2 pursuant to a share repurchase authorization approved by the Company’s Board of Directors in August 2015, which increased the share repurchase authorization to $250.0. Based upon the timing of transactions, $0.3 of the shares repurchased during December 2017 settled during the first quarter of 2018. Additionally, $0.6 of the shares repurchased during March 2018 had not settled as of March 31, 2018. At March 31, 2018, the Company had the authority to repurchase $45.3 of outstanding common shares under the Board’s August 2015 authorization. The timing and terms of any future transactions will depend on a number of considerations including market conditions, our available liquidity and capital needs, and limits on share repurchases that may be applicable under the covenants in our Credit Agreement.

At March 31, 2018, we had outstanding letters of credit and bond obligations of approximately $13.7 related to performance guarantees. We believe that any guarantee obligation that may arise related to performance and payment guarantees of continuing operations will not be material. The Company also has future purchase commitments with telecommunications and transportation providers of $12.5 at March 31, 2018.

During 2017 and 2018, our Board of Directors declared the following dividends per common share, which were paid by the Company on the payment dates listed below:

Announcement Date	Record Date	Dividend Amount	Payment Date
February 22, 2017	March 24, 2017	$0.09	April 7, 2017
May 8, 2017	June 23, 2017	$0.10	July 7, 2017
August 8, 2017	September 22, 2017	$0.10	October 6, 2017
November 7, 2017	December 22, 2017	$0.10	January 5, 2018
February 21, 2018	March 23, 2018	$0.10	April 6, 2018

On May 8, 2018, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.11 per common share to be paid on July 6, 2018 to shareholders of record as of June 22, 2018.

The Board expects that future cash dividends will be paid on a quarterly basis. However, any decision to pay future cash dividends will be subject to Board approval, and will depend on our future earnings, cash flow, financial condition, financial covenants and other relevant factors. We intend to continue to use cash dividends as a means of returning capital to our shareholders, subject to our Board’s determination that cash dividends are in the best interests of our shareholders.

MARKET RISK

We are exposed to a variety of market risks, including the effects of changes in foreign currency exchange rates and interest rates. Market risk is the potential loss arising from adverse changes in market rates and prices. Our risk management strategy includes the use of derivative instruments to reduce the effects on our operating results and cash flows from fluctuations caused by volatility in currency exchange rates. In using derivative financial instruments to hedge exposures to changes in exchange rates, we expose ourselves to counterparty credit risk. We manage exposure to counterparty credit risk by entering into derivative financial instruments with investment grade-rated institutions that can be expected to perform fully under the terms of the agreements and by diversifying the number of financial institutions with which we enter into such agreements.

Interest Rate Risk

At March 31, 2018, Convergys had $215.0 of variable rate debt outstanding under the Term Loan and Asset Securitization Facility, which exposes Convergys to changes in interest rates. Holding other variables constant, including the total amount of outstanding indebtedness, a one hundred basis point increase in interest rates on our variable-rate debt would cause an estimated increase in interest expense of approximately $2.2 per year.

Foreign Currency Exchange Rate Risk

While most of our contracts are priced in U.S. dollars, we also recognize revenue under contracts that are denominated in euros, British pounds, Australian dollars and Canadian dollars. A significant increase in the value of the U.S. dollar relative to these currencies may have a material adverse impact on the value of those revenues when translated to U.S. dollars.

We serve many of our U.S.-based clients using contact center capacity outside of the U.S. Although the contracts with these clients are typically priced in U.S. dollars, a substantial portion of the costs incurred to deliver services under these contracts are denominated in the local currency of the country where services are provided, which represents a foreign exchange exposure. Additionally, we have certain client contracts that are priced in Australian dollars, for which a substantial portion of the costs to deliver services are denominated in other currencies. As of March 31, 2018, we have hedged a portion of our exposure related to the anticipated cash flow requirements denominated in certain foreign currencies by entering into hedging contracts with several financial institutions to acquire a total of PHP 31,440.0 at a fixed price of $615.0 at various dates through December 2020, INR 9,645.0 at a fixed price of $133.4 at various dates through December 2020 , CAD 56.1 at a fixed price of $42.8 at various dates through June 2020 and COP 56,400.0 at a fixed price of $18.5 at various dates through March 2020, and to sell a total of AUD 30.6 at a fixed price of $23.9 at various dates through September 2019. The fair value of these derivative instruments as of March 31, 2018 is presented in Note 12 of the Notes to Consolidated Financial Statements. The potential loss in fair value at March 31, 2018 for such contracts resulting from a hypothetical 10% adverse change in the underlying foreign currency exchange rates is approximately $82.0. This loss would be substantially mitigated by corresponding gains on the underlying foreign currency exposures.

Other foreign currency exposures arise from transactions denominated in a currency other than the functional currency. We periodically enter into hedging contracts that are not designated as hedges. The purpose of these derivative instruments is to protect the Company against foreign currency exposure pertaining to receivables, payables and intercompany transactions that are denominated in currencies different from the functional currencies of the Company or the respective subsidiaries. As of March 31, 2018, the fair value of these derivatives not designated as hedges was a $0.2 receivable.

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

See “ITEM 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our annual report for the year ended December 31, 2017 on Form 10-K for a discussion of our critical accounting policies and estimates.

There have been no material changes to our critical accounting policies and estimates in 2018.

6

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The information required by Item 3 is included in Item 2 of this Form 10-Q.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

The Company’s Chief Executive Officer and Chief Financial Officer, together with the Company’s General Counsel, Chief Accounting Officer and other key members of management, evaluated the effectiveness of the design and operation of the Company’s “disclosure controls and procedures” (as defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the Act)) as of the end of the quarter ended March 31, 2018 (Evaluation Date). Based on this evaluation, the Company’s Chief Executive Officer and Chief Financial Officer have concluded that the Company’s disclosure controls and procedures were effective as of the Evaluation Date to provide reasonable assurance that the information required to be disclosed by the Company in the reports that it files or submits under the Act is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure, and that such information is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Changes in Internal Control

There were no changes in the Company’s internal control over financial reporting during the period covered by this quarterly report that have materially affected, or are reasonably likely to materially affect, the Company’s internal control over financial reporting.

7

PART II

ITEM 1. LEGAL PROCEEDINGS

For a discussion of certain legal proceedings, see Note 10 of the Notes to the Consolidated Financial Statements of this Form 10-Q, which is incorporated by reference herein.

ITEM 1A. RISK FACTORS

See “ITEM 1A. Risk Factors” in our annual report on Form 10-K for the year ended December 31, 2017 for a discussion of our risk factors. There have been no material changes to our risk factors in 2018.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The Board expects that future cash dividends will be paid on a quarterly basis. However, any decision to pay future cash dividends will be subject to Board approval, and will depend on the Company’s future earnings, cash flow, financial condition, financial covenants and other relevant factors.

We repurchased 0.7 of our common shares for $16.2 during the first quarter of 2018, as summarized in the following table:

	Shares repurchased	Average price per share
January 2018	227,900		$22.95
February 2018	209,100	22.63
March 2018	271,400	23.21
Total	708,400		$22.96

All share repurchases were made pursuant to publicly announced programs. At March 31, 2018, the Company had the authority to repurchase $45.3 of outstanding common shares pursuant to the Board of Directors’ most recent share repurchase authorization of $250.0 in August 2015. The timing and terms of any future transactions will depend on a number of considerations including market conditions, our available liquidity and capital needs, and limits on share repurchases that may be applicable under the covenants in our Credit Agreement.

8

ITEM 6. EXHIBITS

(a) Exhibits

The following are filed as Exhibits to Part II of this Form 10-Q:

Exhibit Number

3.1	Amended Articles of Incorporation of the Company. (Incorporated by reference from Exhibit 3.1 to Form 10-Q filed on May 5, 2010.)
3.2	Amended and Restated Code of Regulations of Convergys Corporation. (Incorporated by reference from Exhibit 3.1 to Form 8-K filed on May 2, 2011.)
10.1	2012 Convergys Corporation Senior Executive Severance Pay Plan dated February 14, 2018. (Incorporated by reference from Exhibit 10.19 to Form 10-K filed on February 21, 2018.)
10.2	Amendment to Service Agreement, dated February 14, 2018, between Convergys CMG UK Limited and Cormac Twomey. (Incorporated by reference from Exhibit 10.33 to Form 10-K filed on February 21, 2018.)
10.3	Separation and Consulting Agreement, dated February 20, 2018, between Convergys Corporation and Andrea Ayers. (Incorporated by reference from Exhibit 10.34 to Form 10-K filed on February 21, 2018.)
10.4	Amendment No. 11 to Receivables Purchase Agreement, dated as of January 3, 2018. (Incorporated by reference from Exhibit 10.48 to Form 10-K filed on February 21, 2018.)
10.5	Convergys Corporation 2018 Long-Term Incentive Plan. (Incorporated by reference from Exhibit 10.1 to Form 8-K filed on April 30, 2018.)
21	Subsidiaries of Convergys Corporation.
31.1	Rule 13a - 14(a) Certification by Chief Executive Officer.
31.2	Rule 13a - 14(a) Certification by Chief Financial Officer.
32.1	Certification by Chief Executive Officer of Periodic Financial Reports Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2	Certification by Chief Financial Officer of Periodic Financial Reports Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101	The following financial statements from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2018, filed on May 8, 2018, formatted in XBRL (Extensible Business Reporting Language): (i) Consolidated Statements of Income and Comprehensive Income, (ii) Consolidated Balance Sheets, (iii) Consolidated Statements of Cash Flows, (iv) Consolidated Statements of Shareholders’ Equity, and (v) the Notes to Consolidated Financial Statements.

9

SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	CONVERGYS CORPORATION
May 8, 2018	By	/s/ Andre S. Valentine
		Andre S. Valentine Chief Financial Officer
		(on behalf of the Registrant and as principal financial officer)

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the date indicated.

10

EX-21

Exhibit 21 to 2018 10-Q
Convergys Corporation Direct and Indirect Subsidiaries
As of 3/31/2018
Entity Name										Jurisdiction
Convergys Corporation										Ohio
	Asset Ohio Fourth Street LLC									Ohio
	Convergys Government Solutions LLC									Ohio
	Convergys Software Service (Beijing) Ltd.									Peoples Republic of China
	Convergys Customer Management Group Inc.									Ohio
		Convergys CMG Insurance Services LLC								Ohio
		Convergys Customer Management Mexico S. de R.L. de C.V. (99%)								Mexico
		Convergys Funding Inc.								Kentucky
		Convergys India Services Private Limited								India
			DigitalThink (India) Pvt. Ltd.							India
		Convergys International Holding Ltd. (0.46%)								Bermuda
		Convergys Learning Solutions LLC								Delaware
		Encore Receivable Management, Inc.								Kansas
		SGS Holdings, Inc. (90.60156%)								Delaware
			Stream Global Services, Inc.							Delaware
				Convergys Global Services El Salvador, S.A. de C.V. (0.1%)						El Salvador
				Stream Holdings Corporation						Delaware
					Convergys International Holding Ltd. (5.04%)					Bermuda
					Stream Florida Inc.					Delaware
						Convergys Ireland Contact Services Limited				Ireland
					Stream Global Services - US, Inc.					Delaware
						Stream Global Services - AZ, Inc.				Arizona
					Stream New York, Inc.					Delaware
					Stream International Inc.					Delaware
						Convergys Global Services Honduras, S.A. (fka Stream Global Services Honduras, S.A.) (0.4%)				Honduras
						Convergys Group Servicios de Apoyo Informatico, S.L.				Spain
						Convergys International Europe B.V.				Netherlands
							Convergys International Holding Ltd. (1.65%)			Bermuda
						Convergys International Holding Ltd. (3.64%)				Bermuda
						Convergys International Inc.				Delaware
								SGS Holdings, Inc. (9.39844%)		Delaware
		Convergys Customer Management International Inc.								Ohio
			Convergys CMG UK Limited							United Kingdom
			Convergys Customer Management Mexico S. de R.L. de C.V. (1%)							Mexico
			Convergys International Holding Ltd. (0.24%)							Bermuda
			PT Convergys Customer Management Indonesia (1%)							Indonesia
			Convergys Customer Management Group Canada Holding Inc.							Delaware
				Convergys Customer Management Delaware LLC						Delaware
				Convergys International Holding Ltd. (88.98%)						Bermuda
					Convergys Global Services El Salvador, S.A. de C.V. (99.9%)					El Salvador
					Stream Global Services Danmark ApS					Denmark
					Convergys Egypt Limited Liability Company (1%)					Egypt
					Convergys International Services Europe B.V.					Netherlands
						Convergys Customer Management Australia Pty Ltd				Australia
						Convergys Customer Management Colombia S.A.S.				Colombia
						Convergys Global Services GmbH				Germany
						Convergys Global Services Honduras, S.A. (99.6%)				Honduras
						Convergys Group Limited				United Kingdom
							Convergys International Sp. Z.o.o. (1%)			Poland
							Stream Tunisie, S.A.R.L. (1%)			Tunisia
						Convergys International Bulgaria EOOD				Bulgaria
						Convergys International Nordic AB				Sweden
						Convergys International Sp. Z.o.o. (99%)				Poland
						Convergys Ireland Limited				Ireland
							SGS Tunisie S.A.R.L. (99%)			Tunisia
							Stream Contact Tunisie S.A.R.L. (99%)			Tunisia
						Convergys Italy S.R.L.				Italy
						PT Convergys Customer Management Indonesia (99%)				Indonesia
						SGS Tunisie S.A.R.L. (1%)				Tunisia
						Stream Contact Tunisie S.A.R.L. (1%)				Tunisia
						Convergys Egypt Limited Liability Company (99%)				Egypt
						Convergys (Mauritius) Ltd				Mauritius
						Stream Tunisie, S.A.R.L. (99%)				Tunisia
						Convergys International GmbH				Germany
							Convergys Verwaltungs GmbH (fka buw Verwaltungs GmbH)			Austria
							Convergys Management Holding GmbH & Co. KG (fka buw Management Holding GmbH & Co. KG)			Germany
								Convergys Wuppertal GmbH (fka buw operations Wuppertal GmbH)		Germany
								Convergys Romania S.R.L. (fka buw Romania S.R.L.) (99.9767%)		Romania
								Convergys Hungary Kft. (fka buw Hungary Telefoninformációs Szolgáltató és Tanácsadó Kft.)		Hungary
								Convergys Osnabrück GmbH (fka buw operations Osnabrück GmbH)		Germany
									Convergys Romania S.R.L. (fka buw Romania S.R.L.) (0.0233%)	Romania
								Convergys Münster GmbH (fka buw operations Münster GmbH)		Germany
								Convergys Rechenzentrum GmbH (fka buw Rechenzentrum GmbH)		Germany
								Convergys Leipzig GmbH (fka buw operations Leipzig GmbH)		Germany
								Convergys Gera GmbH (fka buw operations Gera GmbH)		Germany
									Convergys Halle GmbH (fka buw operations Halle GmbH)	Germany
								Convergys Services GmbH (fka buw services GmbH)		Germany
								Convergys Frankfurt a. M. GmbH fka buw operations Frankfurt a. M. GmbH)		Germany
								Convergys Schwerin GmbH (fka buw operations Schwerin GmbH)		Germany
									Convergys Wismar GmbH (fka buw operations Wismar GmbH)	Germany
								Convergys Beteiligungen GmbH (fka buw Beteiligungen GmbH)		Germany
								Convergys Duisburg GmbH (fka buw operations GmbH)		Germany
									Convergys Düsseldorf GmbH (fka Call 4 performance GmbH)	Germany
						Convergys Netherlands Investments B.V.				Netherlands
							Convergys Services Denmark ApS			Denmark
							Convergys CMG Canada ULC			Nova Scotia, Canada
							Convergys Malaysia Sdn Bhd			Malaysia
							Intervoice Pte Ltd.			Singapore
							Intervoice Limited			United Kingdom
								Intervoice GmbH		Germany
								Convergys South Africa (Pty) Ltd		South Africa
							Convergys Philippines, Inc. (98.4375%)			Philippines
								Convergys Nicaragua, S.A. (0.01%)		Nicaragua
								eTelecare Philippines, Inc.		Philippines
								Convergys Singapore Holdings Pte. Ltd.		Singapore
								Convergys Malaysia (Philippines) Sdn Bhd		Malaysia
							Convergys Global Services Hong Kong Limited			Hong Kong
								Convergys (Suzhou) Information Consulting Co., Limited		China
								Suzhou Ke Wei Xun Information Services Co., Ltd.		China
							Convergys Services Singapore Pte. Ltd.			Singapore
								Stream Business Process Outsourcing South Africa (Proprietary) Ltd.		South Africa
								etelcare Global Solutions - UK, Ltd.		United Kingdom
								Convergys Nicaragua, S.A. (99.99%)		Nicaragua
							Convergys Holdings (GB) Limited			United Kingdom
								Convergys Holdings (UK) Ltd.		United Kingdom
									Convergys Intelligent Contact Ltd.	United Kingdom
						Convergys Philippines, Inc. (0.4673%)				Philippines
		Intervoice, LLC (100%)								Texas
			Edify LLC							Delaware
				Intervoice do Brasil Comerico Servicos e Partipacoes Ltda. (0.000007%)						Brazil
			Intervoice GP, Inc.							Nevada
					Intervoice Limited Partnership (1%)					Nevada
			Intervoice LP, Inc.							Nevada
					Intervoice Limited Partnership (99%)					Nevada
			Intervoice Acquisition Subsidiary, Inc.							Nevada
					Intervoice Colombia Ltda. (6%)					Colombia
			Intervoice Colombia Ltda. (94%)							Colombia
			Intervoice do Brasil Comerico Services e Partipacoes Ltda. (99.999993%)							Brazil
			Brite Voice Systems, LLC							Kansas
• All subsidiaries conduct business under their legal name.

EX-31.1

Certification

I, Andrea J. Ayers,certify that:

1. I have reviewed this quarterly report on Form 10-Q of Convergys Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

May 8, 2018	/s/ Andrea J. Ayers
	Andrea J. Ayers
	Chief Executive Officer

EX-31.2

Certification

I, Andre S. Valentine,certify that:

1. I have reviewed this quarterly report on Form 10-Q of Convergys Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

May 8, 2018	/s/ Andre S. Valentine
	Andre S. Valentine
	Chief Financial Officer

EX-32.1

Exhibit 32.1 to 2018 10-Q

CERTIFICATION OF PERIODIC FINANCIAL REPORT BY CHIEF EXECUTIVE OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Convergys Corporation (the "Company") for the period ended March 31, 2018, as filed with the Securities and Exchange Commission on May 8, 2018 (the “Report”), I, Andrea J. Ayers, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the periods covered in the Report.

/s/ Andrea J. Ayers

Andrea J. Ayers

Chief Executive Officer

May 8, 2018

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished to the Securities and Exchange Commission as an exhibit to the Report and shall not be considered filed as part of the Report.

EX-32.2

Exhibit 32.2 to 2018 10-Q

CERTIFICATION OF PERIODIC FINANCIAL REPORT BY CHIEF FINANCIAL OFFICER PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report on Form 10-Q of Convergys Corporation (the "Company") for the period ended March 31, 2018, as filed with the Securities and Exchange Commission on May 8, 2018 (the “Report”), I, Andre S. Valentine, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1)    The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)    The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company as of and for the periods covered in the Report.

/s/ Andre S. Valentine

Andre S. Valentine

Chief Financial Officer

May 8, 2018

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

The foregoing certification is being furnished to the Securities and Exchange Commission as an exhibit to the Report and shall not be considered filed as part of the Report.

XML

Document and Entity Information Document	3 Months Ended
	Mar. 31, 2018 shares
Document and Entity Information [Abstract]
Entity Registrant Name	CONVERGYS CORP.
Entity Central Index Key	0001062047
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding	91,499,038
Trading symbol	cvg

XML

Consolidated Statements Of Income - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenues	$ 674.2	$ 727.6
Operating Costs and Expenses:
Cost of providing services and products sold	417.7	450.2
Selling, general and administrative expenses	172.4	177.5
Depreciation	23.8	27.4
Amortization	6.9	7.2
Restructuring charges	18.9	15.0
Transaction and integration costs	0.0	1.5
Total costs and expenses	639.7	678.8
Operating Income (Loss)	34.5	48.8
Other income (expense), net	(0.5)	1.3
Interest expense	(4.5)	(5.3)
Income (loss) before income taxes	29.5	44.8
Income tax expense	(0.3)	(6.9)
Net Income (Loss)	$ 29.8	$ 37.9
Basic Earnings (Loss) per share:
Net basic earnings (loss) per share	$ 0.33	$ 0.40
Diluted Earnings (Loss) per share:
Net diluted earnings (loss) per share	$ 0.30	$ 0.38
Weighted average common shares outstanding:
Basic	91.6	94.4
Diluted	98.2	100.5
Common Stock, Dividends, Per Share, Declared	$ 0.11	$ 0.09

XML

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Net Income (Loss)	$ 29.8	$ 37.9
Foreign currency translation adjustments	6.4	3.0
Change related to pension liability, net of tax	(4.5)	0.9
Unrealized gain (loss) on hedging activities, net of tax	(20.1)	10.7
Total other comprehensive income (loss)	(18.2)	14.6
Total Comprehensive Income (Loss)	$ 11.6	$ 52.5

XML

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Assets
Cash and cash equivalents	$ 186.3	$ 193.7
Short-term Investments	13.1	13.5
Receivables, net of allowances of $4.4 and $4.8	567.7	567.2
Prepaid expenses	39.5	35.9
Other current assets	49.9	47.4
Total current assets	856.5	857.7
Property and equipment, net	240.0	260.0
Goodwill	942.8	937.9
Other intangibles, net	282.8	287.3
Deferred income tax asset	19.6	21.3
Other assets	44.6	50.5
Total Assets	2,386.3	2,414.7
Liabilities and Shareholders' Equity
Debt and capital lease obligations maturing within one year	50.3	0.9
Payables and other current liabilities	309.6	322.1
Total current liabilities	359.9	323.0
Long-term debt and capital lease obligations	230.0	267.7
Deferred Tax Liabilities, Net, Noncurrent	213.4	222.6
Accrued pension liabilites	92.5	94.7
Other long-term liabilities	57.1	69.5
Total liabilities	952.9	977.5
Convertible debentures conversion feature	59.0	59.5
Shareholders' Equity
Preferred shares - without par value, 5.0 authorized; none outstanding	0.0	0.0
Common shares - without par value, 500.0 authorized; 92.9 and 92.5 issued, 91.5 and 91.8 outstanding, as of March 31, 2018 and December 31, 2017, respectively	3.3	2.5
Treasury Stock - 1.4 and 0.6 shares as of March 31, 2018 and December 31, 2017, respectively	(32.2)	(16.0)
Retained earnings	1,488.1	1,457.8
Accumulated other comprehensive loss	(84.8)	(66.6)
Total shareholders' equity	1,374.4	1,377.7
Total Liabilities and Shareholders' Equity	$ 2,386.3	$ 2,414.7

XML

Balance Sheet Parenthetical (Parentheticals) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable, Current	$ 4.4	$ 4.8
Preferred Stock, Value, Issued	$ 0.0	$ 0.0
Preferred Stock, Shares Authorized	5.0	5.0
Preferred Stock, Shares Outstanding	0.0	0.0
Common Stock, Par or Stated Value Per Share	$ 0.0	$ 0.0
Common Stock, Shares Authorized	500.0	500.0
Common Stock, Shares, Issued	92.9	92.5
Common Stock, Shares, Outstanding	91.5	91.8
Treasury Stock, Shares	1.4	0.6

XML

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income (Loss)	$ 29.8	$ 37.9
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	30.7	34.6
Deferred income tax expense (benefit)	4.1	(0.6)
Stock compensation expense	5.2	4.4
Changes in assets and liabilities:
Change in receivables	(0.8)	1.3
Change in other current assets	(8.2)	1.4
Change in deferred charges, net	0.1	0.1
Change in other assets and liabilities	(30.0)	(11.2)
Change in payables and other current liabilities	(18.2)	(35.0)
Net cash provided by operating activities	12.7	32.9
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures	(5.9)	(8.9)
Net cash used in investing activities	(5.9)	(8.9)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of other long-term debt	0.0	100.0
Repayments of other long-term debt (term loan and capital lease obligations)	(51.1)	(215.7)
Proceeds from Asset Securitization Facility	215.3	333.6
Repayments of Asset Securitization Facility	(153.3)	(173.6)
Repurchase of common shares	(15.9)	(21.5)
Payments of Dividends	(9.2)	(8.5)
Net cash (used in) provided by financing activities	(14.2)	14.3
Net (decrease) increase in cash and cash equivalents	(7.4)	38.3
Cash and cash equivalents at beginning of period	193.7	138.8
Cash and cash equivalents at end of period	$ 186.3	$ 177.1

XML

Background And Basis Of Presentation

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Background and Basis of Presentation

BACKGROUND AND BASIS OF PRESENTATION

Convergys Corporation is a global leader in customer experience outsourcing, focused on bringing value to its clients through every customer interaction. As of March 31, 2018, Convergys had approximately 110,000 employees in 33 countries, interacting with our clients’ customers in 58 languages. In order to help clients serve their customers, Convergys operates 136 contact centers. Convergys leverages its geographic footprint and comprehensive capabilities to help leading companies create quality customer experiences across multiple interaction channels, such as voice, chat, email and interactive voice response.

The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial reporting (U.S. GAAP) and U.S. Securities and Exchange Commission (SEC) regulations and, in the opinion of management, include all adjustments necessary for a fair presentation of the results of operations, financial position and cash flows for each period shown. All adjustments are of a normal and recurring nature. Certain information and footnote disclosures normally included in Financial Statements prepared in accordance with generally accepted accounting principles in the United States have been condensed or omitted. Interim Consolidated Financial Statements are not necessarily indicative of the financial position or operating results for an entire year. These interim Consolidated Financial Statements should be read in conjunction with the audited Financial Statements and the Notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on February 21, 2018.

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Revenue from Contracts with Customers Revenue from Contracts with Customers (Notes)

3 Months Ended

Mar. 31, 2018

Revenue from Contract with Customer [Abstract]

Revenue from Contract with Customer [Text Block]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Revenue Recognition Policy

More than 95% of the Company’s revenues are derived from fees for customer experience outsourcing services provided to the Company’s clients. Revenues from our contracts to provide these services relate to a single performance obligation to stand ready to provide services to the customer. The Company recognizes these revenues over time as services are performed based on the volumes of services provided and contractual rates. The Company’s remaining revenues, which represent less than 5% of the Company’s total revenues, are derived from the sale of premise-based and hosted self-care and technology solutions and provision of professional services. Revenues from the sale of these solutions and provision of these services are recognized over time as solutions or services are provided over the duration of the contract, using contractual rates. These contracts are typically one year or less in duration.

Certain of our contracts, primarily for agent-related services, include pricing terms and conditions that include components of variable consideration. The variable consideration is typically in the form of performance-related bonus and penalty provisions that are determined based upon our meeting, or not meeting, agreed-upon service levels and performance metrics specified within the contract. Some contracts also contain discounts that the client can earn through the achievement of specified volume levels or through early payment for services provided by Convergys. Each component of variable consideration is earned based on the Company’s actual performance during the measurement period specified within the contract (typically monthly for bonus and penalty provisions and either quarterly or annually for volume discounts). In order to determine the transaction price, the Company estimates the variable consideration using the most likely amount method, based on the specific contract provisions and known performance results during the relevant measurement period. When determining if variable consideration should be constrained, the Company considers whether factors outside its control could result in a significant reversal of revenue. In making these assessments, the Company considers the likelihood and magnitude of a potential reversal. The Company’s performance period generally corresponds with the monthly invoice period. Given our historical experiences and relatively short duration of periods subject to variable consideration adjustments, no constraints on our revenue recognition were applied during the first quarter of 2018. The Company reassesses these estimates during each reporting period.

Disaggregation of Revenue

We provide services to companies across a variety of industries including communications, technology, retail, financial services, healthcare and other. The following table presents our disaggregated revenue from customers by key industry vertical for the three months ended March 31, 2018 and 2017.

	Three Months Ended March 31,
	2018		2017
Revenues:
Communications		$287.2		$336.8
Technology	148.9		156.5
Retail	76.4		66.4
Financial Services	74.7		77.9
Healthcare	51.4		51.4
Other	35.6		38.6
Total Revenues		$674.2		$727.6

While most of our contracts are priced in U.S. dollars, we also recognize revenue under contracts that are denominated in euros, British pounds, Australian dollars or Canadian dollars. The following table presents the Company’s U.S. dollar equivalent revenue by currency for the three months ended March 31, 2018 and 2017.

	Three Months Ended March 31,
	2018		2017
U.S. Dollar Revenue by Currency:
U.S. dollar		$494.2		$570.1
Euro	92.3		77.7
British pound	52.7		39.8
Australian dollar	11.5		15.3
Canadian dollar	9.6		8.8
Other	13.9		15.9
Total Revenues		$674.2		$727.6

Costs to Obtain a Contract

The Company capitalizes commission expenses paid to our sales personnel when the commissions are deemed to be incremental for obtaining new agent-related services contracts. The deferred commissions are amortized on a straight-line basis over the expected period of benefit. We review the deferred commission balances for impairment on an ongoing basis. Deferred commissions are classified as current or noncurrent based on the timing of when we expect to recognize the expense. The current and noncurrent portions are included in Other current assets and Other assets, respectively, on the Company’s Consolidated Balance Sheets. As of March 31, 2018, the current and noncurrent assets related to deferred commissions totaled $2.3 and $2.5, respectively. During the three months ended March 31, 2018, we recorded $0.7 of amortization expense related to deferred commissions. This expense is classified in Selling, general and administrative expense on the Consolidated Statement of Income.

Receivables and Allowance for Doubtful Accounts

Trade receivables are comprised of amounts owed to the Company by clients and are presented net of an allowance for doubtful accounts. Contracts with individual clients determine when receivables are due, generally within 30 to 60 days, and whether interest is accrued on late payments. The allowance for doubtful accounts is the Company’s best estimate of the amount of probable credit losses in the Company’s existing accounts receivable balance. The Company regularly reviews the adequacy of its allowance for doubtful accounts. The Company determines the allowance based on historical write-off experience and current economic conditions and also considers factors such as customer credit, past transaction history with the customer and changes in customer payment terms when determining whether the collection of a receivable is reasonably assured. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.

Volume Discounts

Certain contracts with customers contain discounts that the client can earn through the achievement of specified volume levels or through early payment for services provided by Convergys. The Company maintains a liability for these discounts within Payables and other current liabilities on its Consolidated Balance Sheets. The liabilities for these discounts totaled $5.9 as of March 31, 2018.

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Earnings (Loss) Per Share and Shareholders' Equity

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Earnings (Loss) Per Share and Shareholder's Equity

EARNINGS PER SHARE AND SHAREHOLDERS’ EQUITY

Earnings per Share

The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share (EPS) computations:

Shares (in millions)	Shares	Net Income		Per Share Amount
Three Months Ended March 31, 2018
Basic EPS	91.6		$29.8		$0.33
Effect of dilutive securities:
Stock-based compensation arrangements	0.9	—		(0.01		)
Convertible Debt	5.7	—		(0.02		)
Diluted EPS	98.2		$29.8		$0.30
Three Months Ended March 31, 2017
Basic EPS	94.4		$37.9		$0.40
Effect of dilutive securities:
Stock-based compensation arrangements	0.9	—		—
Convertible Debt	5.2	—		(0.02		)
Diluted EPS	100.5		$37.9		$0.38

The diluted EPS calculation for the three months endedMarch 31, 2018 excludes 0.3 performance-based restricted stock units granted in 2016, as the performance criteria has not yet been achieved, as well as 0.4 performance-based restricted stock units (0.1 and 0.3 granted in 2018 and 2017, respectively), as performance criteria for the third year of the 2017 grants and the second and third years of the 2018 grants have not yet been fully defined, thereby precluding a grant for accounting purposes due to a lack of a mutual understanding of the terms of the stock-based awards.

The diluted EPS calculation for the three months endedMarch 31, 2018 includes 5.7 shares associated with the Company’s convertible debt. As described more fully in Note 6, during 2009, the Company issued approximately $125.0 aggregate principal amount of 5.75% Junior Subordinated Convertible Debentures due 2029 (2029 Convertible Debentures). The 2029 Convertible Debentures were convertible, subject to certain conditions, into shares of the Company’s common stock at an initial implied conversion price of approximately $12.07 per share, or eighty-two and eighty-two hundredths shares per one thousand dollars in principal amount of debentures. The conversion rate is subject to adjustment for certain events outlined in the indenture governing the 2029 Convertible Debentures (the Indenture), including payment of dividends. As of March 31, 2018, the implied conversion price for the 2029 Convertible Debentures was approximately $11.11 per share, or eighty-nine and ninety-seven hundredths shares per one thousand dollars in principal amount of debentures.

Shareholders’ Equity

The Company repurchased 0.7 of its common shares during the three months endedMarch 31, 2018 at an average price of $22.96 per share for a total of $16.2. Based upon the timing of transactions, $0.3 of the shares repurchased during December 2017 settled during the first quarter of 2018. Additionally, $0.6 of the shares repurchased during March 2018 had not settled as of March 31, 2018. These shares are excluded from outstanding shares at the end of the current quarter and were settled in cash during the second quarter of 2018.

As of March 31, 2018, the Company had the authority to repurchase $45.3 of outstanding common shares pursuant to the Board of Directors’ August 2015 authorization to increase the remaining authorized share repurchases to $250.0 in the aggregate. The timing and terms of any future transactions will depend on a number of considerations including market conditions, our available liquidity and capital needs, and limits on share repurchases that may be applicable under the covenants in our Credit Agreement.

Dividends

During 2017 and 2018, the Company’s Board of Directors declared the following dividends per common share, which were paid by the Company on the payment dates listed below:

Announcement Date	Record Date	Dividend Amount	Payment Date
February 22, 2017	March 24, 2017	$0.09	April 7, 2017
May 8, 2017	June 23, 2017	$0.10	July 7, 2017
August 8, 2017	September 22, 2017	$0.10	October 6, 2017
November 7, 2017	December 22, 2017	$0.10	January 5, 2018
February 21, 2018	March 23, 2018	$0.10	April 6, 2018

On May 8, 2018, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.11 per common share to be paid on July 6, 2018 to shareholders of record as of June 22, 2018.

The Board expects that future cash dividends will be paid on a quarterly basis. However, any decision to pay future cash dividends will be subject to Board approval, and will depend on the Company’s future earnings, cash flow, financial condition, financial covenants and other relevant factors.

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Goodwill and Other Intangible Assets and Long-Lived Assets

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Other Intangible Assets and Long-Lived Assets

GOODWILL AND OTHER INTANGIBLE AND LONG-LIVED ASSETS

Goodwill

Goodwill was $942.8 at March 31, 2018 compared to $937.9 at December 31, 2017. This increase was due to foreign currency translation. The Company tests goodwill for impairment annually as of October 1 and at other times if events have occurred or circumstances exist that indicate the carrying value of goodwill may no longer be recoverable. Goodwill impairment testing is performed at the reporting unit level, one level below the business segment. The Company’s reporting units are Customer Management - Agent Services and Customer Management - Customer Interaction Technology (CIT). As of March 31, 2018 and December 31, 2017, all goodwill was held by the Customer Management - Agent Services reporting unit.

The annual impairment test performed as of October 1, 2017 indicated that the fair value of the Customer Management - Agent Services reporting unit was substantially in excess of its carrying value. However, impairment charges could be required if a divestiture decision is made or other significant economic events occur with respect to the reporting unit. Subsequent to our October 1, 2017 annual impairment test, no indications of an impairment were identified.  

Other Intangible Assets

The Company’s other intangible assets, primarily acquired through business combinations, are evaluated periodically if events or circumstances indicate a possible inability to recover their carrying amounts. No impairment charges were recognized in any period presented. As of March 31, 2018 and December 31, 2017, the Company’s other intangible assets consisted of the following:

March 31, 2018	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships and other intangibles		$487.8		($205.0	)		$282.8
Trademarks	27.1		(27.1		)	—
Software (classified within Property and equipment, net)	41.3		(41.3		)	—
Total		$556.2		($273.4	)		$282.8
December 31, 2017
Customer relationships and other intangibles		$484.6		($198.0	)		$286.6
Trademarks	27.0		(26.3		)	0.7
Software (classified within Property and equipment, net)	41.3		(41.3		)	—
Total		$552.9		($265.6	)		$287.3

The customer relationship and other intangible assets are being amortized for 1 to 17 years. The remaining weighted average amortization period for customer relationships and other intangibles is approximately 12.0 years. Amortization of software is included within depreciation expense as the underlying assets are classified within property and equipment.

Amortization expense for intangibles was $6.9 for the three months endedMarch 31, 2018 and is estimated to be approximately $25.6 for the year ended December 31, 2018. The related estimated expense for the five subsequent fiscal years is as follows:

For the year ended 2019		$24.9
For the year ended 2020	24.2
For the year ended 2021	22.5
For the year ended 2022	22.2
For the year ended 2023	22.2
Thereafter	148.1

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Debt And Capital Lease Obligation

3 Months Ended

Mar. 31, 2018

Long-term Debt and Capital Lease Obligations [Abstract]

Debt and Capital Lease Obligations

DEBT AND CAPITAL LEASE OBLIGATIONS

Debt and capital lease obligations consisted of the following:

	March 31, 2018		December 31, 2017
Term Loan, due 2019		$49.6		$99.3
Convertible Debentures, due 2029	66.0		65.5
Capital Lease Obligations	1.0		2.1
Accounts Receivable Securitization	165.0		103.0
Total debt	281.6		269.9
Less debt issuance costs	1.3		1.3
Total debt, net	280.3		268.6
Less current maturities	50.3		0.9
Long-term debt		$230.0		$267.7

Credit Facility

On January 11, 2017 (the Effective Date), the Company entered into a new credit agreement (Credit Agreement) and repaid all amounts outstanding and terminated all commitments under its previously existing credit agreement (Prior Credit Agreement) using initial borrowings under the Credit Agreement as well as borrowings under the Company’s asset securitization facility. The Credit Agreement consists of a $215.0 unsecured term loan facility (Term Loan), maturing on March 3, 2019, and a $300.0 unsecured revolving credit facility (Revolving Credit Facility), maturing on January 11, 2022. On the Effective Date, the Company drew $100.0 in initial borrowings under the Term Loan. A $1.0 extinguishment loss was recognized on the Effective Date and is included in Interest expense on the Consolidated Statement of Income for the three months endedMarch 31, 2017.

The Revolving Credit Facility may be extended for two additional one-year periods, subject to the satisfaction of certain conditions set forth in the Credit Agreement. In addition, aggregate borrowing capacity under the Credit Agreement may be increased by up to an additional $250.0 million by increasing the amount of the Revolving Credit Facility or by incurring additional term loans, in each case subject to the satisfaction of certain conditions set forth in the Credit Agreement, including the receipt of additional commitments for such increase. Borrowings outstanding under the Credit Agreement may be repaid from time to time without premium or penalty, other than customary breakage costs, if any.  Borrowings outstanding under the Credit Agreement bear interest at a fluctuating rate per annum equal to, at the Company’s option, either (a) the applicable adjusted LIBOR plus a spread based on the Company’s total net leverage ratio, or (b) a base rate (equal to the higher of the Administrative Agent’s prime rate, the federal fund rate plus 0.50%, and the one-month adjusted LIBOR plus 1.0%) plus a spread based on the Company’s total net leverage ratio. The Company is also obligated to pay a commitment fee on a quarterly basis on the unused portion of the commitments under the Revolving Credit Facility based on the Company’s total net leverage ratio, which fee is currently 25 basis points. While amounts borrowed and repaid under the Revolving Credit Facility can be re-borrowed, amounts repaid under the Term Loan cannot be borrowed again under the Credit Agreement. The Credit Agreement contains certain affirmative and negative covenants, as well as terms and conditions that are customary for credit facilities of this type, including financial covenants for leverage and interest coverage ratios. The Company was in compliance with all covenants at March 31, 2018. Total borrowing capacity remaining under the Revolving Credit Facility was $300.0, with $50.0 outstanding on the Term Loan, and recorded as a current obligation at March 31, 2018. The carrying value of the Term Loan at March 31, 2018 reflects a discount of $0.4 related to fees paid directly to the lenders at issuance. This discount is being amortized over the life of the Term Loan using the effective interest rate method (4.0% as of March 31, 2018), and is included in interest expense in the Consolidated Statements of Income. Subsequent to March 31, 2018, the Company fully repaid the $50.0 outstanding balance on the Term Loan.

Convertible Debentures

During 2009, Convergys issued $125.0 aggregate principal amount of 5.75% Junior Subordinated Convertible Debentures due September 2029 (2029 Convertible Debentures) in exchange for $122.5 of 4.875% Unsecured Senior Notes due December 15, 2009, pursuant to an exchange offer. At the date of issuance, the Company recognized the liability component of the 2029 Convertible Debenture at its fair value of $56.3. The liability component was recognized as the fair value of a similar instrument that did not have a conversion feature at issuance. The equity component, which is the value of the conversion feature at issuance, was recognized as the difference between the proceeds from the issuance of the debentures and the fair value of the liability component, after adjusting for the deferred tax impact of $32.7. The 2029 Convertible Debentures were issued at a coupon rate of 5.75%, which was below that of a similar instrument that did not have a conversion feature. Therefore, the valuation of the debt component, using the income approach, resulted in a debt discount. The debt discount is being amortized over the life of a similar debt instrument without a conversion feature, which the Company determined to equal the contractual maturity of the 2029 Convertible Debentures.

Amortization is based upon the effective interest rate method and is included in interest expense in the Consolidated Statements of Income.

The 2029 Convertible Debentures, which pay a fixed rate of interest semi-annually, have a contingent interest component that will require the Company to pay additional interest if the trading price of the 2029 Convertible Debentures exceeds a specified threshold at specified times, commencing on September 15, 2019, as outlined in the Indenture. The maximum amount of contingent interest that will accrue is 0.75% per annum of the average trading price of the 2029 Convertible Debentures during the periods specified in the Indenture. The fair value of this embedded derivative was not significant at March 31, 2018 or December 31, 2017.

The Company is not entitled to redeem the 2029 Convertible Debentures prior to September 15, 2019. On or after September 15, 2019, the Company may redeem for cash all or part of the 2029 Convertible Debentures at par value plus accrued but unpaid interest if certain trading conditions of the Company’s common shares are satisfied. The holders of the 2029 Convertible Debentures have the option to require redemption at par value plus accrued but unpaid interest upon the occurrence of a fundamental change, a defined term in the Indenture.

The 2029 Convertible Debentures are convertible at the option of the holders on or after September 15, 2028 and prior to that date only under the following circumstances: (1) during any calendar quarter if the last reported sales price of the Company’s common shares for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on the last trading day of the preceding calendar quarter is greater than or equal to 130% of the applicable conversion price (currently $14.45) for the 2029 Convertible Debentures on each applicable trading day (hereinafter referred to as the Sales Price Condition); (2) during the five business day period immediately following any five consecutive trading day period (the Measurement Period) in which, as determined following a request by a holder of 2029 Convertible Debentures as provided in the Indenture, the trading price per $1,000 principal amount of 2029 Convertible Debentures for each trading day of such Measurement Period was less than 98% of the product of the last reported sale price of the Company’s common shares and the applicable conversion rate for the 2029 Convertible Debentures on each such trading day; (3) if the Company elects to redeem any or all of the 2029 Convertible Debentures; or (4) upon the occurrence of specified corporate events pursuant to the terms of the Indenture. Upon conversion, the Company will pay cash up to the aggregate principal amount of the 2029 Convertible Debentures to be converted and pay or deliver, as the case may be, cash, common shares of the Company or a combination of cash and common shares of the Company, at the Company’s election, in respect of the remainder, if any, of the Company’s conversion obligation in excess of the aggregate principal amount of the 2029 Convertible Debentures being converted.

The 2029 Convertible Debentures were convertible, subject to certain conditions, into common shares of the Company at an initial implied conversion price of approximately $12.07 per share, or eighty-two and eighty-two hundredths shares per one thousand dollars in principal amount of debentures. As of March 31, 2018, the implied conversion price for the 2029 Convertible Debentures was approximately $11.11 per share, or eighty-nine and ninety-seven hundredths shares per one thousand dollars in principal amount of debentures. The conversion rate is subject to adjustment for certain events outlined in the Indenture, including payment of dividends.

As of March 31, 2018 and December 31, 2017, the 2029 Convertible Debentures were convertible at the option of the holders. This conversion right was triggered upon satisfaction of the Sales Price Condition (the closing price of the Company’s common shares was greater than or equal to $14.45, 130% of the conversion price of the 2029 Convertible Debentures at March 31, 2018, for at least 20 of the 30 consecutive trading days ending on March 31, 2018). As a result, the equity component of the 2029 Convertible Debentures equal to $59.0 (the difference between the par value and carrying value of the 2029 Convertible Debentures at March 31, 2018) has been classified as temporary equity within the March 31, 2018 Consolidated Balance Sheet since this amount was considered redeemable. The Company will reassess the convertibility of the 2029 Convertible Debentures and the related balance sheet classification on a prospective basis. There have been no conversions of the 2029 Convertible Debentures through the date of this filing.

Based on quoted market prices at March 31, 2018, the fair value of the $125.0 aggregate principal amount of the Company’s 2029 Convertible Debentures is $264.1.

Asset Securitization Facility

During January 2017, the Company amended the terms of its asset securitization facility collateralized by accounts receivable of certain of the Company’s subsidiaries. The amendment resulted in an increased purchase limit of $225.0, with $90.0 and $135.0 expiring in January 2018 and January 2020, respectively. The asset securitization facility was further amended in January 2018 to extend the expiration date for the $90.0 purchase limit to January 2019. The asset securitization program is conducted through Convergys Funding Inc., a wholly-owned bankruptcy remote subsidiary of the Company. As of March 31, 2018 and December 31, 2017, Convergys had drawn $165.0 and $103.0, respectively, in available funding from qualified receivables. Amounts drawn under this facility have been classified as long-term debt within the Consolidated Balance Sheets, based on the Company’s ability and intent to refinance on a long-term basis as of March 31, 2018.

At March 31, 2018, future minimum payments of the Company’s debt and capital lease arrangements (exclusive of any debt discounts) are as follows:

2018	$	0.6
2019	116.3
2020	99.1
2021	—
2022	—
Thereafter	125.0
Total	$	341.0

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Restructuring

3 Months Ended

Mar. 31, 2018

Restructuring Charges [Abstract]

Restructuring

RESTRUCTURING

2018 Restructuring

Company-wide restructuring program

During the first quarter of 2018, the Company initiated a restructuring plan to reduce headcount and consolidate certain contact centers to streamline the Company’s operations. This resulted in a total charge of $10.7, comprised of $5.0 of severance expense associated with headcount reductions and $5.7 of facility-related charges. This expense is included in Restructuring charges on the Consolidated Statements of Income.

The headcount reductions impacted approximately 350 employees and the related severance is expected to be substantially paid in cash by September 30, 2018. The remaining severance liability resulting from these restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $3.8 as of March 31, 2018.

The facility-related charges are associated with five site closures and primarily represent the present value of contractually obligated future minimum lease payments and the full impairment of certain abandoned property and equipment. The fair value of these facility obligations was determined using the income approach through a discounted cash flow analysis, based on estimated future contractual costs associated with the impacted facilities, net of proceeds from any probable future sublease agreements. The Company utilized market data to determine the estimated proceeds from any future sublease agreements. The Company will continue to evaluate the estimates used in recording the facilities abandonment charge over the remaining lease period. Consequently, there may be additional reversals or charges relating to these facility closures in the future. The remaining liability related to these facility restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $1.8 as of March 31, 2018.

CEO transition costs

On January 25, 2018, the Company announced that Andrea Ayers will transition from her role as President and Chief Executive Officer (CEO) of Convergys. The Company and Ms. Ayers subsequently executed a Separation and Consulting Agreement, effective February 20, 2018. During the three months ended March 31, 2018, the Company recorded CEO transition costs of $7.3 associated with certain components of cash and equity-based compensation payable to Ms. Ayers in connection with her separation from the Company, as well as consulting fees associated with the Company’s search process to identify a successor CEO. This expense is included in Restructuring charges on the Consolidated Statements of Income. The compensation payments related to this expense are subject to the terms and conditions of the Separation and Consulting Agreement and the timing of such payments will, in some cases, depend on the timing of Ms. Ayers’ separation from the Company.

Other severance

During the first quarter of 2018, the Company recorded other severance expense of $0.9 primarily related to headcount reductions resulting from certain client program completions. These actions impacted approximately 345 employees. This severance expense is included in Restructuring charges on the Consolidated Statements of Income and was fully paid in cash by March 31, 2018.

2017 Restructuring

Company-wide restructuring program

During the first quarter of 2017, the Company recorded restructuring expenses of $12.8 related to a company-wide initiative to reduce headcount and better align the Company’s resources, principally for corporate functions. The 2017 restructuring actions impacted approximately 315 employees. This expense is included in Restructuring charges on the Consolidated Statements of Income and is expected to be substantially paid in cash by December 31, 2018. The total remaining liability under these restructuring actions, which is included in Payables and other current liabilities on the Consolidated Balance Sheet, was $3.3 as of March 31, 2018 and $5.8 as of December 31, 2017.

Other severance

During 2017, the Company recorded other severance expense of $2.2 primarily related to headcount reductions resulting from certain client program completions. These actions impacted approximately 150 employees. This severance expense is included in Restructuring charges on the Consolidated Statements of Income and was fully paid in cash during 2017.

buw integration

During 2017, the Company recorded severance charges of $0.9 related to the elimination of certain redundant positions as a result of the integration of the buw business. This severance expense was included in Transaction and integration costs on the Consolidated Statements of Income and was fully paid in cash by March 31, 2018.

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Employee Benefit Plans

3 Months Ended

Mar. 31, 2018

Defined Benefit Plan [Abstract]

Employee Benefit Plans

EMPLOYEE BENEFIT PLANS

Pensions

The Company sponsors a frozen defined benefit pension plan, which includes both a qualified and non-qualified portion, for all eligible employees in the U.S. (the cash balance plan) and unfunded defined benefit plans for certain eligible employees in the Philippines, Malaysia and France (together with the cash balance plan, the defined benefit plans).The pension benefit formula for the cash balance plan is determined by a combination of compensation, age-based credits and annual guaranteed interest credits. The qualified portion of the cash balance plan has been funded through contributions made to a trust fund. The Company’s measurement date for all plans is December 31. The plan assumptions are evaluated annually and are updated as deemed necessary.  

Components of pension cost and other amounts recognized in other comprehensive income for the Company’s defined benefit plans are as follows:

	Three Months Ended March 31,
	2018			2017
Service cost		$1.1			$1.4
Interest cost on projected benefit obligation	2.1			1.9
Expected return on plan assets	(2.2		)	(2.5		)
Amortization and deferrals—net	2.2			1.5
Total net pension cost		$3.2			$2.3

The Company also sponsors a non-qualified, unfunded executive deferred compensation plan (the EDCP), which permits eligible participants, including executive officers, to defer receipt of certain income. The Company matches up to 100% of the first 3% of a participant’s deferred amounts and 50% of a participant’s next 2% of deferred amounts.  The Company match under the EDCP is reduced by the Company match eligible to be received under the Company’s Retirement and Savings Plan.

Components of pension cost and other amounts recognized in other comprehensive loss for the EDCP are as follows:

	Three Months Ended March 31,
	2018		2017
Service cost		$0.4		$0.4
Interest cost on projected benefit obligation	0.1		0.1
Total pension cost		$0.5		$0.5

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Stock-Based Compensation Plans

3 Months Ended

Mar. 31, 2018

Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

STOCK-BASED COMPENSATION PLANS

The Company’s operating results for the three months endedMarch 31, 2018 and 2017, included stock-based compensation expense of $5.3 and $4.3, respectively. Expense for the three months endedMarch 31, 2018 and 2017 included expense of $0.1 and an income adjustment of $0.1, respectively, related to awards classified as liabilities that will ultimately settle in cash. The income adjustment in the prior year reflected a revaluation of the awards classified as liabilities based on the trading price of the Company’s common stock.

Restricted Stock Units

Time-based Restricted Stock Units

During the three months endedMarch 31, 2018 and 2017, the Company granted 0.4 and 0.2 shares, respectively, of time-based restricted stock units. The weighted average grant date fair values of these grants were $23.32 and $22.70, respectively. These time-based grants are scheduled to vest 25% at the first anniversary of the grant date, 25% at the second anniversary and 50% at the third anniversary, with the exception of 0.2 granted in 2018 that are scheduled to vest 50% at the second anniversary and 50% at the third anniversary.

The total compensation cost related to non-vested time-based restricted stock units not yet recognized as of March 31, 2018 was approximately $24.4, which is expected to be recognized over a weighted average period of 2.4 years. Changes to non-vested time-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	1.3		23.46
Granted	0.4		23.32
Vested	(0.4	)	23.25
Forfeited	—		—
Non-vested at March 31, 2018	1.3			$23.45

Performance-based Restricted Stock Units

During the three months endedMarch 31, 2018 and 2017, the Company granted 0.1 and 0.1 shares, respectively, of performance-based restricted stock units. These grants provide for payout based upon the extent to which the Company achieves certain EPS targets, as determined by the Compensation and Benefits Committee of the Board of Directors, over three-year periods. Payout levels for earned shares range from 50% to 200% of award shares. No payout is earned if performance is below the minimum threshold performance level. At March 31, 2018, the targets for the third year of the 2017 grants and the second and third years of the 2018 grants had not yet been set, the key terms had not been effectively communicated to the recipients, and as such the expense related to these grants had not yet been recognized. These grants have been excluded from the table below.

During the first quarter of 2018, the Company established and communicated to participants the final key terms of the 2016 grants, resulting in grants for accounting purposes with a grant date fair value of $23.58 per share. The total compensation cost related to the 2016 non-vested performance-based restricted stock units not yet recognized as of March 31, 2018 was approximately $4.5, which is expected to be recognized ratably over the remaining vesting period ending in February 2019.

Changes to non-vested performance-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	0.3		21.28
Granted	0.2		23.58
Vested	(0.3	)	21.29
Forfeited	—		—
Non-vested at March 31, 2018	0.2			$23.58

Stock Options

Presented below is a summary of Company stock option activity. Prior to 2016, all outstanding stock options were fully vested and the related expense had been fully recognized.

Shares (in millions)	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Weighted Average Value at Date of Grant (per shares)
Options outstanding at December 31, 2017	0.3		$13.45	3.4		$3.86
Options exercisable at December 31, 2017	0.3		$13.45	3.4		$3.86
Granted	—	—
Exercised
Forfeited	—	—
Options outstanding at March 31, 2018	0.3		$13.45	3.2	$	3.86
Options exercisable at March 31, 2018	0.3		$13.45	3.2	$	3.86

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Commitments And Contingencies

3 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

COMMITMENTS AND CONTINGENCIES

Commitments

At March 31, 2018, the Company had outstanding letters of credit and bond obligations of $13.7 related to performance guarantees. The Company believes that any guarantee obligation that may arise will not be material. The Company also has future purchase commitments with telecommunication and transportation providers of $12.5 for the remainder of 2018.

Contingencies

The Company, from time to time, is subject to various loss contingencies, including tax and legal contingencies that arise in the ordinary course of business. The Company accrues for a loss contingency when it is probable that a liability has been incurred and the amount of such loss can be reasonably estimated. At this time, the Company believes that any such contingencies, either individually or in the aggregate, will not have a materially adverse effect on the Company’s results of operations or financial condition. However, the outcome of litigation cannot be predicted with certainty, and unfavorable resolution of one or more pending matters could have a materially adverse impact on the Company’s results of operations or financial condition in the future.

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Financial Instruments

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

FINANCIAL INSTRUMENTS

Derivative Instruments

The Company is exposed to a variety of market risks, including the effects of changes in foreign currency exchange rates and interest rates. The Company’s risk management strategy includes the use of derivative instruments to reduce the effects on its operating results and cash flows from fluctuations caused by volatility in currency exchange rates.

The Company serves many of its U.S.-based clients using contact center capacity outside of the U.S. Although the contracts with these clients are typically priced in U.S. dollars, a substantial portion of the costs incurred to deliver services under these contracts are denominated in the local currency of the country where services are provided, which represents a foreign exchange exposure. The Company has hedged a portion of its exposure related to the anticipated cash flow requirements denominated in some of the aforementioned foreign currencies by entering into hedging contracts with several financial institutions to acquire a total of PHP 31,440.0 at a fixed price of $615.0 at various dates through December 2020, INR 9,645.0 at a fixed price of $133.4 at various dates through December 2020, CAD 56.1 at a fixed price of $42.8 at various dates through June 2020 and COP 56,400.0 at a fixed price of $18.5 at various dates through March 2020, and to sell a total of AUD 30.6 at a fixed price of $23.9 at various dates through September 2019. These instruments mature within the next 33 months and had a notional value of $819.6 at March 31, 2018 and $835.5 at December 31, 2017. The derivative instruments discussed above are designated and are effective as cash flow hedges. The following table reflects the fair values of these derivative instruments:

	March 31, 2018		December 31, 2017
Forward exchange contracts and options designated as hedging instruments:
Included within other current assets		$9.9		$14.5
Included within other non-current assets	2.7		8.7
Included within other current liabilities	18.8		7.7
Included within other long-term liabilities	6.6		1.7

The Company recorded a deferred tax benefit of $3.2 and deferred tax expense of $3.6 related to these derivatives at March 31, 2018 and December 31, 2017, respectively. A total of $9.7 of deferred losses, net of tax, related to these cash flow hedges were included in accumulated other comprehensive loss (OCL) at March 31, 2018, compared to $10.4 of deferred gains, net of tax, that were included in accumulated other comprehensive income (OCI) at December 31, 2017. As of March 31, 2018, deferred losses of $9.0 ($6.7 net of tax) on derivative instruments included in accumulated OCL are expected to be reclassified into earnings during the next 12 months. The following tables provide the effect of these derivative instruments on the Company’s Consolidated Financial Statements during the three months ended March 31, 2018 and 2017, respectively:

Three Months Ended March 31, 2018:

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCL on Derivative (Effective Portion)			Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)
Foreign exchange contracts		($29.0	)		($2.2	)	Cost of providing services and products sold and Selling, general and administrative

Three Months Ended March 31, 2017:

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCL on Derivative (Effective Portion)		Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)
Foreign exchange contracts		$9.8		($7.7	)	Cost of providing services and products sold and Selling, general and administrative

The gain or loss recognized related to the ineffective portion of the derivative instruments was immaterial for the three months endedMarch 31, 2018 and 2017.

The Company also enters into derivative instruments (forwards) to economically hedge the foreign currency impact of assets and liabilities denominated in nonfunctional currencies. During the three months endedMarch 31, 2018, a loss of $3.9 was recognized related to changes in fair value of these derivative instruments not designated as hedges, compared to a loss of $2.6 in the same period in 2017. The gains and losses largely offset the currency gains and losses that resulted from changes in the assets and liabilities denominated in nonfunctional currencies. These gains and losses are classified within other income, net in the accompanying Consolidated Statements of Income. The fair value of these derivative instruments not designated as hedges at March 31, 2018, was a $0.2 receivable.

Short-term Investments

As of March 31, 2018 and December 31, 2017, the Company held investment securities with a fair value of $13.1 and $13.5, respectively, that are held in a grantor trust for the benefit of participants in the EDCP and reflect the hypothetical investment balances of EDCP participants. The securities are classified as trading securities and included within short-term investments in the Consolidated Balance Sheets. The investment securities include exchange-traded mutual funds and money market accounts. These securities are carried at fair value, with gains and losses, both realized and unrealized, reported in other (expense) income, net in the Consolidated Statements of Income. The cost of securities sold is based upon the specific identification method. Interest and dividends on securities classified as trading are included in other (expense) income, net.

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Fair Value Measurements

3 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Disclosures

FAIR VALUE MEASUREMENTS

U.S. GAAP defines a hierarchy which prioritizes the inputs in measuring fair value. The three levels of the fair value hierarchy are as follows: Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities; Level 2 inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument; and Level 3 inputs are unobservable inputs based on the Company’s assumptions used to measure assets and liabilities at fair value. A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement.

At March 31, 2018 and December 31, 2017, the Company had foreign currency forward contracts measured at fair value. The fair values of these instruments were measured using valuations based upon quoted prices for similar assets and liabilities in active markets (Level 2) and are valued by reference to similar financial instruments, adjusted for terms specific to the contracts. There were no transfers between the three levels of the fair value hierarchy during the years ended March 31, 2018 and March 31, 2017. The derivative assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 were as follows:

	March 31, 2018		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivatives:
Foreign currency forward contracts (asset position)		$13.0		$—		$13.0		$—
Foreign currency forward contracts (liability position)		$25.8		$—		$25.8		$—

	December 31, 2017		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivatives:
Foreign currency forward contracts (asset position)		$24.2		$—		$24.2		$—
Foreign currency forward contracts (liability position)		$19.2		$—		$19.2		$—

The Company also had investment securities held in a grantor trust for the benefit of participants of the EDCP measured at fair value at March 31, 2018 and December 31, 2017. These investments are recorded as short-term investments on the Consolidated Balance Sheets. The fair value of these instruments was measured using the quoted prices in active markets for identical assets (Level 1). There were no transfers between the three levels of the fair value hierarchy during the years ended March 31, 2018 and March 31, 2017. The assets measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 were as follows:

	March 31, 2018		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities:
Mutual funds		$12.1		$12.1		$—		$—
Money market accounts	1.0		1.0		—		—
Total		$13.1		$13.1		$—		$—

	December 31, 2017		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities:
Mutual funds		$12.4		$12.4		$—		$—
Money market accounts	1.1		1.1		—		—
Total		$13.5		$13.5		$—		$—

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Income Taxes

3 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Taxes

INCOME TAXES

The effective tax rate on net income from continuing operations was a benefit of 1.0% for the three months ended March 31, 2018 compared to expense of 15.4% in the same period last year. The effective tax rate for the three months ended March 31, 2018 was favorably impacted by a net benefit of $8.6 resulting from the resolution of certain tax audits. The effective tax rate for the three months ended March 31, 2018 was also impacted by the geographic mix of worldwide income and the accrual of withholding taxes on the repatriation of current period earnings. In the fourth quarter of 2017, the Company recorded an estimated net discrete tax charge of $34.1 related to the Tax Cuts and Jobs Act (the 2017 Tax Act) that was accounted for as a provisional charge in accordance with Staff Accounting Bulletin No. 118. During the three months ended March 31, 2018, the Company recorded an adjustment of $1.4 to recognize the imposition of the new minimum tax on global intangible income, which the Company accounts for as a period cost. The Company continues to analyze the impacts of the 2017 Tax Act; therefore, the 2017 charge continues to be provisional.

As of March 31, 2018 and December 31, 2017, the liability for unrecognized tax benefits was $10.1 and $21.3, respectively, and is included in other long-term liabilities in the accompanying Consolidated Balance Sheets. As of March 31, 2018, the total amount of unrecognized tax benefits that would affect income tax expense if recognized in the Consolidated Financial Statements is $8.6. This amount includes net interest and penalties of $3.8. It is reasonably possible that the total amount of unrecognized tax benefits will decrease between approximately $1.3 and $5.5 in the next twelve months; however, actual developments in this area could differ from those currently expected.

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Additional Financial Information

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

	At March 31, 2018		At December 31, 2017
Payables and other current liabilities:
Accounts payable		$53.8		$41.3
Accrued income and other taxes	27.1		41.9
Accrued payroll-related expenses	119.7		131.6
Derivative liabilities	19.1		17.6
Accrued expenses, other	61.7		63.5
Restructuring and exit costs	14.5		8.7
Deferred revenue and government grants	13.7		17.5
		$309.6		$322.1

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Accumulated Other Comprehensive Income (Loss) (Notes)

3 Months Ended

Mar. 31, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss) [Text Block]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss):

		Foreign Currency			Derivative Financial Instruments			Pension Liability			Total
Balance at December 31, 2016			($56.6	)		($25.5	)		($31.7	)		($113.8	)
	Other comprehensive income before reclassifications, net of tax	3.0			6.0			—			9.0
	Amounts reclassified from accumulated other comprehensive income, net of tax	—			4.7			0.9			5.6
Net current-period other comprehensive income		3.0			10.7			0.9			14.6
Balance at March 31, 2017			($53.6	)		($14.8	)		($30.8	)		($99.2	)
Balance at December 31, 2017			($35.4	)		$10.4			($41.6	)		($66.6	)
	Other comprehensive income (loss) before reclassifications, net of tax	6.4			(21.7		)	(6.0		)	(21.3		)
	Amounts reclassified from accumulated other comprehensive income, net of tax	—			1.6			1.5			3.1
Net current-period other comprehensive income (loss)		6.4			(20.1		)	(4.5		)	(18.2		)
Balance at March 31, 2018			($29.0	)		($9.7	)		($46.1	)		($84.8	)

The following table summarizes the reclassification out of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)						Affected Line Item in the Consolidated Statements of Income
	Three Months Ended March 31,
	2018			2017
Loss on derivative instruments		($2.2	)		($7.7	)	Cost of providing services and products sold and Selling, general and administrative
Tax benefit	0.6			3.0			Income tax expense
Loss on derivative instruments, net of tax	(1.6		)	(4.7		)	Income from Continuing Operations, net of tax
Adjustments of pension and other post employment obligations	(2.0		)	(1.5		)	Selling, general and administrative
Tax benefit	0.5			0.6			Income tax expense
Adjustment of pension and other post employment obligations, net of tax	(1.5		)	(0.9		)	Income from Continuing Operations, net of tax
Total reclassifications for the period		($3.1	)		($5.6	)

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Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

RECENT ACCOUNTING PRONOUNCEMENTS

In February 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2018-02, Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This ASU permits companies to reclassify disproportionate tax effects in accumulated other comprehensive income (AOCI) caused by the Tax Cuts and Jobs Act of 2017 (the 2017 Tax Act) to retained earnings. The Company elected to early adopt this standard as of January 1, 2018, on a prospective basis, resulting in a $6.0 reclassification adjustment, using a specific identification method, that increased retained earnings and decreased AOCI.

In May 2017, the FASB issued ASU 2017-09, Stock Compensation - Scope of Modification Accounting. This ASU clarifies which changes to the terms or conditions of a share-based payment award require the application of modification accounting under ASC 718. The Company adopted this standard as of January 1, 2018. The adoption of this standard did not have an impact on the Company’s consolidated financial statements.

In January 2017, the FASB issued ASU 2017-04, Simplifying the Test for Goodwill Impairment. This ASU eliminates the two-step process that required identification of potential impairment and a separate measure of the actual impairment. Goodwill impairment charges, if any, would be determined by the difference between a reporting unit's carrying value and its fair value (impairment loss is limited to the carrying value). This standard is effective for annual or any interim goodwill impairment tests beginning after December 15, 2019. The adoption of this standard is not expected to have a material impact on the Company’s consolidated financial statements.

In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230). The objective of this update is to provide additional guidance and reduce diversity in practice when classifying certain transactions within the statement of cash flows. In November 2016, the FASB issued ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This new standard requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. These standards are effective for financial statements issued for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. The Company adopted these standards as of January 1, 2018 utilizing the retrospective transition method. The adoption of this standard did not have a material impact on the Company’s consolidated financial statements.

In February 2016, the FASB issued ASU 2016-02, Leases. This ASU will require lessees to recognize almost all leases on the balance sheet as a right-of-use asset and a lease liability. For income statement purposes, the FASB retained a dual model, requiring leases to be classified as finance leases or operating leases. The Company will adopt this standard on January 1, 2019 and is currently assessing the effect that adoption of the new standard will have on its consolidated financial statements and related disclosures, as well as its processes, systems and internal controls. The Company currently expects adoption of this standard will result in a material increase to the assets and liabilities reported on the Company’s Consolidated Balance Sheets.

In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers. The standard applies one comprehensive revenue recognition model across all contracts, entities and sectors. The core principal of the new standard is that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard includes cost guidance, whereby all direct and incremental costs to obtain or fulfill a contract with a customer are capitalized and amortized over the corresponding period of benefit. The Company adopted this standard for all contracts with customers outstanding on January 1, 2018 using the modified retrospective adoption method, which resulted in a $3.2 adjustment to the opening balance of retained earnings. Results for reporting periods after January 1, 2018 are presented under ASU 2014-09, while prior period amounts are not adjusted and continue to be reported in accordance with the accounting standards in effect for those periods. The largest adoption impacts to the Company’s consolidated financial statements resulted from the new qualitative and quantitative disclosures provided in Note 3, and the capitalization of certain direct and incremental contract costs that are now being capitalized and amortized over the estimated period of benefit of the corresponding contracts. The new standard does not have an impact on the timing or revenue recognition pattern of any of our identified revenue streams. The cumulative effect of the changes made to our January 1, 2018 Consolidated Balance Sheet for the adoption of ASU 2014-09 were as follows:

	Balance at		Adjustments Due to		Balance at
Consolidated Balance Sheet Caption	December 31, 2017		ASU 2014-09		January 1, 2018
Assets
Other current assets		$47.4		$2.0		$49.4
Total current assets		$857.7		$2.0		$859.7
Other assets		$50.5		$2.3		$52.8
Total Assets		$2,414.7		$4.3		$2,419.0
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$222.6		$1.1		$223.7
Total liabilities		$977.5		$1.1		$978.6
Retained Earnings		$1,457.8		$3.2		$1,461.0
Total shareholders' equity		$1,377.7		$3.2		$1,380.9
Total Liabilities and Shareholders' Equity		$2,414.7		$4.3		$2,419.0

The impacts to the Company’s Consolidated Statement of Income for the three months ended March 31, 2018 and Consolidated Balance Sheet as of March 31, 2018, as a result of the adoption of ASU 2014-09 were as follows:

	Three Months Ended March 31, 2018
Consolidated Statement of Income Caption	As Reported			Amounts Without Adoption of ASU 2014-09			Effect of Change
Selling, general and administrative		$172.4			$172.8			($0.4	)
Total costs and expenses		$639.7			$640.1			($0.4	)
Operating Income		$34.5			$34.1			$0.4
Income before Income Taxes		$29.5			$29.1			$0.4
Income tax benefit		($0.3	)		($0.2	)		($0.1	)
Net Income		$29.8			$29.5			$0.3

	Three Months Ended March 31, 2018
Consolidated Balance Sheet Caption	As Reported		Balances Without Adoption of ASU 2014-09		Effect of Change
Assets
Other current assets		$49.9		$47.6		$2.3
Total current assets		$856.5		$854.2		$2.3
Other assets		$44.6		$42.1		$2.5
Total Assets		$2,386.3		$2,381.5		$4.8
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$213.4		$212.2		$1.2
Total liabilities		$952.9		$951.7		$1.2
Retained earnings		$1,488.1		$1,484.5		$3.6
Total shareholders' equity		$1,374.4		$1,370.8		$3.6
Total Liabilities and Shareholders' Equity		$2,386.3		$2,381.5		$4.8

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Significant Accounting Policies Schedule of New Accounting Pronouncements and Changes in Accounting Policy (Tables)

3 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The cumulative effect of the changes made to our January 1, 2018 Consolidated Balance Sheet for the adoption of ASU 2014-09 were as follows:

	Balance at		Adjustments Due to		Balance at
Consolidated Balance Sheet Caption	December 31, 2017		ASU 2014-09		January 1, 2018
Assets
Other current assets		$47.4		$2.0		$49.4
Total current assets		$857.7		$2.0		$859.7
Other assets		$50.5		$2.3		$52.8
Total Assets		$2,414.7		$4.3		$2,419.0
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$222.6		$1.1		$223.7
Total liabilities		$977.5		$1.1		$978.6
Retained Earnings		$1,457.8		$3.2		$1,461.0
Total shareholders' equity		$1,377.7		$3.2		$1,380.9
Total Liabilities and Shareholders' Equity		$2,414.7		$4.3		$2,419.0

The impacts to the Company’s Consolidated Statement of Income for the three months ended March 31, 2018 and Consolidated Balance Sheet as of March 31, 2018, as a result of the adoption of ASU 2014-09 were as follows:

	Three Months Ended March 31, 2018
Consolidated Statement of Income Caption	As Reported			Amounts Without Adoption of ASU 2014-09			Effect of Change
Selling, general and administrative		$172.4			$172.8			($0.4	)
Total costs and expenses		$639.7			$640.1			($0.4	)
Operating Income		$34.5			$34.1			$0.4
Income before Income Taxes		$29.5			$29.1			$0.4
Income tax benefit		($0.3	)		($0.2	)		($0.1	)
Net Income		$29.8			$29.5			$0.3

	Three Months Ended March 31, 2018
Consolidated Balance Sheet Caption	As Reported		Balances Without Adoption of ASU 2014-09		Effect of Change
Assets
Other current assets		$49.9		$47.6		$2.3
Total current assets		$856.5		$854.2		$2.3
Other assets		$44.6		$42.1		$2.5
Total Assets		$2,386.3		$2,381.5		$4.8
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$213.4		$212.2		$1.2
Total liabilities		$952.9		$951.7		$1.2
Retained earnings		$1,488.1		$1,484.5		$3.6
Total shareholders' equity		$1,374.4		$1,370.8		$3.6
Total Liabilities and Shareholders' Equity		$2,386.3		$2,381.5		$4.8

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New Accounting Pronouncements - Narrative (Tables)

3 Months Ended

Mar. 31, 2018

Schedule of New Accounting Pronouncements and Changes in Accounting Policy [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The cumulative effect of the changes made to our January 1, 2018 Consolidated Balance Sheet for the adoption of ASU 2014-09 were as follows:

	Balance at		Adjustments Due to		Balance at
Consolidated Balance Sheet Caption	December 31, 2017		ASU 2014-09		January 1, 2018
Assets
Other current assets		$47.4		$2.0		$49.4
Total current assets		$857.7		$2.0		$859.7
Other assets		$50.5		$2.3		$52.8
Total Assets		$2,414.7		$4.3		$2,419.0
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$222.6		$1.1		$223.7
Total liabilities		$977.5		$1.1		$978.6
Retained Earnings		$1,457.8		$3.2		$1,461.0
Total shareholders' equity		$1,377.7		$3.2		$1,380.9
Total Liabilities and Shareholders' Equity		$2,414.7		$4.3		$2,419.0

The impacts to the Company’s Consolidated Statement of Income for the three months ended March 31, 2018 and Consolidated Balance Sheet as of March 31, 2018, as a result of the adoption of ASU 2014-09 were as follows:

	Three Months Ended March 31, 2018
Consolidated Statement of Income Caption	As Reported			Amounts Without Adoption of ASU 2014-09			Effect of Change
Selling, general and administrative		$172.4			$172.8			($0.4	)
Total costs and expenses		$639.7			$640.1			($0.4	)
Operating Income		$34.5			$34.1			$0.4
Income before Income Taxes		$29.5			$29.1			$0.4
Income tax benefit		($0.3	)		($0.2	)		($0.1	)
Net Income		$29.8			$29.5			$0.3

	Three Months Ended March 31, 2018
Consolidated Balance Sheet Caption	As Reported		Balances Without Adoption of ASU 2014-09		Effect of Change
Assets
Other current assets		$49.9		$47.6		$2.3
Total current assets		$856.5		$854.2		$2.3
Other assets		$44.6		$42.1		$2.5
Total Assets		$2,386.3		$2,381.5		$4.8
Liabilities and Shareholders' Equity
Deferred income tax liabilities		$213.4		$212.2		$1.2
Total liabilities		$952.9		$951.7		$1.2
Retained earnings		$1,488.1		$1,484.5		$3.6
Total shareholders' equity		$1,374.4		$1,370.8		$3.6
Total Liabilities and Shareholders' Equity		$2,386.3		$2,381.5		$4.8

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Revenue from Contracts with Customers Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2018

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

The following table presents our disaggregated revenue from customers by key industry vertical for the three months ended March 31, 2018 and 2017.

	Three Months Ended March 31,
	2018		2017
Revenues:
Communications		$287.2		$336.8
Technology	148.9		156.5
Retail	76.4		66.4
Financial Services	74.7		77.9
Healthcare	51.4		51.4
Other	35.6		38.6
Total Revenues		$674.2		$727.6

All Currencies [Domain]

Disaggregation of Revenue [Line Items]

Disaggregation of Revenue [Table Text Block]

The following table presents the Company’s U.S. dollar equivalent revenue by currency for the three months ended March 31, 2018 and 2017.

	Three Months Ended March 31,
	2018		2017
U.S. Dollar Revenue by Currency:
U.S. dollar		$494.2		$570.1
Euro	92.3		77.7
British pound	52.7		39.8
Australian dollar	11.5		15.3
Canadian dollar	9.6		8.8
Other	13.9		15.9
Total Revenues		$674.2		$727.6

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Earnings (Loss) Per Share and Shareholder’s Equity (Tables)

3 Months Ended

Mar. 31, 2018

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

The following is a reconciliation of the numerator and denominator of the basic and diluted earnings per share (EPS) computations:

Shares (in millions)	Shares	Net Income		Per Share Amount
Three Months Ended March 31, 2018
Basic EPS	91.6		$29.8		$0.33
Effect of dilutive securities:
Stock-based compensation arrangements	0.9	—		(0.01		)
Convertible Debt	5.7	—		(0.02		)
Diluted EPS	98.2		$29.8		$0.30
Three Months Ended March 31, 2017
Basic EPS	94.4		$37.9		$0.40
Effect of dilutive securities:
Stock-based compensation arrangements	0.9	—		—
Convertible Debt	5.2	—		(0.02		)
Diluted EPS	100.5		$37.9		$0.38

Share Repurchase Activity

Schedule of Dividends Declared and Paid [Line Items]

Schedule of Dividends Declared and Paid [Table Text Block]

During 2017 and 2018, the Company’s Board of Directors declared the following dividends per common share, which were paid by the Company on the payment dates listed below:

Announcement Date	Record Date	Dividend Amount	Payment Date
February 22, 2017	March 24, 2017	$0.09	April 7, 2017
May 8, 2017	June 23, 2017	$0.10	July 7, 2017
August 8, 2017	September 22, 2017	$0.10	October 6, 2017
November 7, 2017	December 22, 2017	$0.10	January 5, 2018
February 21, 2018	March 23, 2018	$0.10	April 6, 2018

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Goodwill and Other Intangible Assets and Long-Lived Assets (Tables)

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule Of Total Intangible Assets Primarily Acquired Through Business Combinations

As of March 31, 2018 and December 31, 2017, the Company’s other intangible assets consisted of the following:

March 31, 2018	Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships and other intangibles		$487.8		($205.0	)		$282.8
Trademarks	27.1		(27.1		)	—
Software (classified within Property and equipment, net)	41.3		(41.3		)	—
Total		$556.2		($273.4	)		$282.8
December 31, 2017
Customer relationships and other intangibles		$484.6		($198.0	)		$286.6
Trademarks	27.0		(26.3		)	0.7
Software (classified within Property and equipment, net)	41.3		(41.3		)	—
Total		$552.9		($265.6	)		$287.3

Schedule Of Estimated Amortization Expense

For the year ended 2019		$24.9
For the year ended 2020	24.2
For the year ended 2021	22.5
For the year ended 2022	22.2
For the year ended 2023	22.2
Thereafter	148.1

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Debt And Capital Lease Obliations (Tables)

3 Months Ended

Mar. 31, 2018

Long-term Debt and Capital Lease Obligations [Abstract]

Schedule Of Debt And Capital Lease Obligations

:

	March 31, 2018		December 31, 2017
Term Loan, due 2019		$49.6		$99.3
Convertible Debentures, due 2029	66.0		65.5
Capital Lease Obligations	1.0		2.1
Accounts Receivable Securitization	165.0		103.0
Total debt	281.6		269.9
Less debt issuance costs	1.3		1.3
Total debt, net	280.3		268.6
Less current maturities	50.3		0.9
Long-term debt		$230.0		$267.7

Schedule Of Future Minimum Payments

At March 31, 2018, future minimum payments of the Company’s debt and capital lease arrangements (exclusive of any debt discounts) are as follows:

2018	$	0.6
2019	116.3
2020	99.1
2021	—
2022	—
Thereafter	125.0
Total	$	341.0

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Employee Benefit Plans (Tables)

3 Months Ended

Mar. 31, 2018

Pension Plan [Member]

Schedule of Net Benefit Costs [Table Text Block]

	Three Months Ended March 31,
	2018			2017
Service cost		$1.1			$1.4
Interest cost on projected benefit obligation	2.1			1.9
Expected return on plan assets	(2.2		)	(2.5		)
Amortization and deferrals—net	2.2			1.5
Total net pension cost		$3.2			$2.3

Other Pension Plan [Member]

Schedule of Net Benefit Costs [Table Text Block]

	Three Months Ended March 31,
	2018		2017
Service cost		$0.4		$0.4
Interest cost on projected benefit obligation	0.1		0.1
Total pension cost		$0.5		$0.5

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Stock-Based Compensation Plans (Tables)

3 Months Ended

Mar. 31, 2018

Share-based Compensation, Allocation and Classification in Financial Statements [Abstract]

Disclosure of Share-based Compensation Arrangements by Share-based Payment Award

STOCK-BASED COMPENSATION PLANS

The Company’s operating results for the three months endedMarch 31, 2018 and 2017, included stock-based compensation expense of $5.3 and $4.3, respectively. Expense for the three months endedMarch 31, 2018 and 2017 included expense of $0.1 and an income adjustment of $0.1, respectively, related to awards classified as liabilities that will ultimately settle in cash. The income adjustment in the prior year reflected a revaluation of the awards classified as liabilities based on the trading price of the Company’s common stock.

Restricted Stock Units

Time-based Restricted Stock Units

During the three months endedMarch 31, 2018 and 2017, the Company granted 0.4 and 0.2 shares, respectively, of time-based restricted stock units. The weighted average grant date fair values of these grants were $23.32 and $22.70, respectively. These time-based grants are scheduled to vest 25% at the first anniversary of the grant date, 25% at the second anniversary and 50% at the third anniversary, with the exception of 0.2 granted in 2018 that are scheduled to vest 50% at the second anniversary and 50% at the third anniversary.

The total compensation cost related to non-vested time-based restricted stock units not yet recognized as of March 31, 2018 was approximately $24.4, which is expected to be recognized over a weighted average period of 2.4 years. Changes to non-vested time-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	1.3		23.46
Granted	0.4		23.32
Vested	(0.4	)	23.25
Forfeited	—		—
Non-vested at March 31, 2018	1.3			$23.45

Performance-based Restricted Stock Units

During the three months endedMarch 31, 2018 and 2017, the Company granted 0.1 and 0.1 shares, respectively, of performance-based restricted stock units. These grants provide for payout based upon the extent to which the Company achieves certain EPS targets, as determined by the Compensation and Benefits Committee of the Board of Directors, over three-year periods. Payout levels for earned shares range from 50% to 200% of award shares. No payout is earned if performance is below the minimum threshold performance level. At March 31, 2018, the targets for the third year of the 2017 grants and the second and third years of the 2018 grants had not yet been set, the key terms had not been effectively communicated to the recipients, and as such the expense related to these grants had not yet been recognized. These grants have been excluded from the table below.

During the first quarter of 2018, the Company established and communicated to participants the final key terms of the 2016 grants, resulting in grants for accounting purposes with a grant date fair value of $23.58 per share. The total compensation cost related to the 2016 non-vested performance-based restricted stock units not yet recognized as of March 31, 2018 was approximately $4.5, which is expected to be recognized ratably over the remaining vesting period ending in February 2019.

Changes to non-vested performance-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	0.3		21.28
Granted	0.2		23.58
Vested	(0.3	)	21.29
Forfeited	—		—
Non-vested at March 31, 2018	0.2			$23.58

Stock Options

Presented below is a summary of Company stock option activity. Prior to 2016, all outstanding stock options were fully vested and the related expense had been fully recognized.

Shares (in millions)	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Weighted Average Value at Date of Grant (per shares)
Options outstanding at December 31, 2017	0.3		$13.45	3.4		$3.86
Options exercisable at December 31, 2017	0.3		$13.45	3.4		$3.86
Granted	—	—
Exercised
Forfeited	—	—
Options outstanding at March 31, 2018	0.3		$13.45	3.2	$	3.86
Options exercisable at March 31, 2018	0.3		$13.45	3.2	$	3.86

Schedule of Share-based Compensation, Stock Options, Activity

Presented below is a summary of Company stock option activity. Prior to 2016, all outstanding stock options were fully vested and the related expense had been fully recognized.

Shares (in millions)	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (in years)	Weighted Average Value at Date of Grant (per shares)
Options outstanding at December 31, 2017	0.3		$13.45	3.4		$3.86
Options exercisable at December 31, 2017	0.3		$13.45	3.4		$3.86
Granted	—	—
Exercised
Forfeited	—	—
Options outstanding at March 31, 2018	0.3		$13.45	3.2	$	3.86
Options exercisable at March 31, 2018	0.3		$13.45	3.2	$	3.86

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Stock-Based Compensation Plans Schedule of Non-Vested Restricted Stock Units Activity (Tables)

3 Months Ended

Mar. 31, 2018

Performance Based Restricted Stock [Member]

Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

Changes to non-vested performance-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	0.3		21.28
Granted	0.2		23.58
Vested	(0.3	)	21.29
Forfeited	—		—
Non-vested at March 31, 2018	0.2			$23.58

Time-Based Restricted Stock [Member]

Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

Changes to non-vested time-based restricted stock units for the three months endedMarch 31, 2018 were as follows:

Shares (in millions)	Number of Shares		Weighted Average Fair Value at Date of Grant
Non-vested at December 31, 2017	1.3		23.46
Granted	0.4		23.32
Vested	(0.4	)	23.25
Forfeited	—		—
Non-vested at March 31, 2018	1.3			$23.45

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Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value Of Derivative Instruments

The following table reflects the fair values of these derivative instruments:

	March 31, 2018		December 31, 2017
Forward exchange contracts and options designated as hedging instruments:
Included within other current assets		$9.9		$14.5
Included within other non-current assets	2.7		8.7
Included within other current liabilities	18.8		7.7
Included within other long-term liabilities	6.6		1.7

Effect Of Derivative Instruments On Consolidated Financial Statements

The following tables provide the effect of these derivative instruments on the Company’s Consolidated Financial Statements during the three months ended March 31, 2018 and 2017, respectively:

Three Months Ended March 31, 2018:

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCL on Derivative (Effective Portion)			Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)
Foreign exchange contracts		($29.0	)		($2.2	)	Cost of providing services and products sold and Selling, general and administrative

Three Months Ended March 31, 2017:

Derivatives in Cash Flow Hedging Relationships	Gain (Loss) Recognized in OCL on Derivative (Effective Portion)		Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)			Location of Gain (Loss) Reclassified from Accumulated OCL into Income (Effective Portion)
Foreign exchange contracts		$9.8		($7.7	)	Cost of providing services and products sold and Selling, general and administrative

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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2018

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

The derivative assets and liabilities measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 were as follows:

	March 31, 2018		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivatives:
Foreign currency forward contracts (asset position)		$13.0		$—		$13.0		$—
Foreign currency forward contracts (liability position)		$25.8		$—		$25.8		$—

	December 31, 2017		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Derivatives:
Foreign currency forward contracts (asset position)		$24.2		$—		$24.2		$—
Foreign currency forward contracts (liability position)		$19.2		$—		$19.2		$—

Investments [Member]

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

The assets measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 were as follows:

	March 31, 2018		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities:
Mutual funds		$12.1		$12.1		$—		$—
Money market accounts	1.0		1.0		—		—
Total		$13.1		$13.1		$—		$—

	December 31, 2017		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Investment securities:
Mutual funds		$12.4		$12.4		$—		$—
Money market accounts	1.1		1.1		—		—
Total		$13.5		$13.5		$—		$—

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Additional Financial Information (Tables)

3 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Additional Financial Information

	At March 31, 2018		At December 31, 2017
Payables and other current liabilities:
Accounts payable		$53.8		$41.3
Accrued income and other taxes	27.1		41.9
Accrued payroll-related expenses	119.7		131.6
Derivative liabilities	19.1		17.6
Accrued expenses, other	61.7		63.5
Restructuring and exit costs	14.5		8.7
Deferred revenue and government grants	13.7		17.5
		$309.6		$322.1

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Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Mar. 31, 2018

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS)

The following table summarizes the changes in the accumulated balances for each component of accumulated other comprehensive income (loss):

		Foreign Currency			Derivative Financial Instruments			Pension Liability			Total
Balance at December 31, 2016			($56.6	)		($25.5	)		($31.7	)		($113.8	)
	Other comprehensive income before reclassifications, net of tax	3.0			6.0			—			9.0
	Amounts reclassified from accumulated other comprehensive income, net of tax	—			4.7			0.9			5.6
Net current-period other comprehensive income		3.0			10.7			0.9			14.6
Balance at March 31, 2017			($53.6	)		($14.8	)		($30.8	)		($99.2	)
Balance at December 31, 2017			($35.4	)		$10.4			($41.6	)		($66.6	)
	Other comprehensive income (loss) before reclassifications, net of tax	6.4			(21.7		)	(6.0		)	(21.3		)
	Amounts reclassified from accumulated other comprehensive income, net of tax	—			1.6			1.5			3.1
Net current-period other comprehensive income (loss)		6.4			(20.1		)	(4.5		)	(18.2		)
Balance at March 31, 2018			($29.0	)		($9.7	)		($46.1	)		($84.8	)

The following table summarizes the reclassification out of accumulated other comprehensive income (loss):

Details about Accumulated Other Comprehensive Income (Loss) Components	Amount Reclassified from Accumulated Other Comprehensive Income (Loss)						Affected Line Item in the Consolidated Statements of Income
	Three Months Ended March 31,
	2018			2017
Loss on derivative instruments		($2.2	)		($7.7	)	Cost of providing services and products sold and Selling, general and administrative
Tax benefit	0.6			3.0			Income tax expense
Loss on derivative instruments, net of tax	(1.6		)	(4.7		)	Income from Continuing Operations, net of tax
Adjustments of pension and other post employment obligations	(2.0		)	(1.5		)	Selling, general and administrative
Tax benefit	0.5			0.6			Income tax expense
Adjustment of pension and other post employment obligations, net of tax	(1.5		)	(0.9		)	Income from Continuing Operations, net of tax
Total reclassifications for the period		($3.1	)		($5.6	)

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Background And Basis of Presentation (Details)	3 Months Ended
	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Entity Number of Employees	110,000
Number of Countries in which Entity Operates	33
Entity Number of Contact Centers	136
Number of Languages Spoken	58

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Significant Accounting Policies Recent Accounting Pronouncements (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)
Recent Accounting Prounouncements [Abstract]
Reclassification of certain tax effects from AOCI to retained earnings caused by the Tax Cuts and Jobs Act of 2017	$ 6.0
New Accounting Pronouncement or Change in Accounting Principle, Description of Prior-period Information Retrospectively Adjusted	3.2

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Significant Accounting Policies Schedule of New Accounting Pronouncements and Changes in Accounting Policy (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, General and Administrative Expense	$ 172.4	$ 177.5
Other Assets, Current	49.9		$ 49.4	$ 47.4
Assets, Current	856.5		859.7	857.7
Other Assets, Noncurrent	44.6		52.8	50.5
Assets	2,386.3		2,419.0	2,414.7
Deferred Tax Liabilities, Net, Noncurrent	213.4		223.7	222.6
Liabilities	952.9		978.6	977.5
Retained Earnings (Accumulated Deficit)	1,488.1		1,461.0	1,457.8
Stockholders' Equity Attributable to Parent	1,374.4		1,380.9	1,377.7
Liabilities and Equity	2,386.3		$ 2,419.0	2,414.7
Costs and Expenses	639.7	678.8
Operating Income (Loss)	34.5	48.8
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	29.5	44.8
Income Tax Expense (Benefit)	0.3	6.9
Net Income (Loss) Attributable to Parent	29.8	$ 37.9
Scenario, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, General and Administrative Expense	(0.4)
Other Assets, Current	2.3			2.0
Assets, Current	2.3			2.0
Other Assets, Noncurrent	2.5			2.3
Assets	4.8			4.3
Deferred Tax Liabilities, Net, Noncurrent	1.2			1.1
Liabilities	1.2			1.1
Retained Earnings (Accumulated Deficit)	3.6			3.2
Stockholders' Equity Attributable to Parent	3.6			3.2
Liabilities and Equity	4.8			$ 4.3
Costs and Expenses	(0.4)
Operating Income (Loss)	0.4
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	0.4
Income Tax Expense (Benefit)	(0.1)
Net Income (Loss) Attributable to Parent	0.3
Previous Accounting Guidance [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Selling, General and Administrative Expense	172.8
Other Assets, Current	47.6
Assets, Current	854.2
Other Assets, Noncurrent	42.1
Assets	2,381.5
Deferred Tax Liabilities, Net, Noncurrent	212.2
Liabilities	951.7
Retained Earnings (Accumulated Deficit)	1,484.5
Stockholders' Equity Attributable to Parent	1,370.8
Liabilities and Equity	2,381.5
Costs and Expenses	640.1
Operating Income (Loss)	34.1
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest	29.1
Income Tax Expense (Benefit)	(0.2)
Net Income (Loss) Attributable to Parent	$ 29.5

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Revenue from Contracts with Customers Revenue from Contracts with Customers (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Disaggregation of Revenue [Line Items]
Accrued Sales Commission, Current	$ 2.3
Deferred Sales Commission	2.5
Amortization of Deferred Sales Commissions	$ 0.7
Percentage of Company's Revenue Derived from Fees For Customer Experience Outsourcing	95.00%
Revenues	$ 674.2	$ 727.6
Percentage of Company's Revenues, Derived from the Sale of Premise-based and Hosted Self-care and technology solutions	5.00%
Contract with Customer, Refund Liability, Current	$ 5.9
Communications Vertical [Domain]
Disaggregation of Revenue [Line Items]
Revenues	287.2	336.8
Technology Vertical [Domain]
Disaggregation of Revenue [Line Items]
Revenues	148.9	156.5
Financial Services Vertical [Domain]
Disaggregation of Revenue [Line Items]
Revenues	74.7	77.9
Retail Vertical [Domain]
Disaggregation of Revenue [Line Items]
Revenues	76.4	66.4
Healthcare Vertical [Domain]
Disaggregation of Revenue [Line Items]
Revenues	51.4	51.4
Other Vertical [Domain]
Disaggregation of Revenue [Line Items]
Revenues	35.6	38.6
United States of America, Dollars
Disaggregation of Revenue [Line Items]
Revenues	494.2	570.1
Euro Member Countries, Euro
Disaggregation of Revenue [Line Items]
Revenues	92.3	77.7
United Kingdom, Pounds
Disaggregation of Revenue [Line Items]
Revenues	52.7	39.8
Australia, Dollars
Disaggregation of Revenue [Line Items]
Revenues	11.5	15.3
Canada, Dollars
Disaggregation of Revenue [Line Items]
Revenues	9.6	8.8
All Other Currencies [Domain]
Disaggregation of Revenue [Line Items]
Revenues	$ 13.9	$ 15.9

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Earnings (Loss) Per Share and Shareholder’s Equity (Schedule Of Reconciliation Of The Numerator And Denominator Of The Basic And Diluted Earnings (Loss) Per Share (EPS) Computations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Earnings Per Share
Basic	91.6	94.4
Stock-based compensation arrangements	0.9	0.9
Convertible Debt, Share	5.7	5.2
Diluted EPS	98.2	100.5
Net Income (Loss) Attributable to Parent	$ 29.8	$ 37.9
Income from continuing operations, Diluted EPS	$ 29.8	$ 37.9
Net basic earnings (loss) per share	$ 0.33	$ 0.40
Stock-based compensation arrangements Per Share, Total	0.01	0.00
Convertible debt continuing operation, per share	(0.02)	(0.02)
Net diluted earnings (loss) per share	$ 0.30	$ 0.38

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Earnings (Loss) Per Share and Shareholder’s Equity (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						12 Months Ended
	Jun. 30, 2018 $ / shares	Mar. 31, 2018 USD ($) $ / shares shares	Dec. 31, 2017 USD ($) $ / shares	Sep. 30, 2017 $ / shares	Jun. 30, 2017 $ / shares	Mar. 31, 2017 $ / shares shares	Dec. 31, 2009 USD ($) $ / shares
Common Stock, Dividends, Per Share, Cash Paid | $ / shares	$ 0.10	$ 0.10	$ 0.10	$ 0.10	$ 0.09
Common Stock, Dividends, Per Share, Declared | $ / shares		$ 0.11				$ 0.09
Repurchase of shares		0.7
Repurchase of Common Shares | $		$ 16.2
Stock Repurchased but not settled in cash | $		$ 0.6	$ 0.3
Repurchase of shares, average price per share | $ / shares		$ 22.96
Incremental Common Shares Attributable to Dilutive Effect of Conversion of Debt Securities		5.7				5.2
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $		$ 250.0
Stock Repurchase Program, Authorized Amount | $		$ 45.3
Restricted Stock Units (RSUs) [Member]
Antidilutive securities excluded from diluted EPS		0.4
5.75% Junior Subordinated Convertible Debentures [Member]
Debt Instrument, Face Amount | $							$ 125.0
Interest rate on unsecured senior notes							5.75%
Debt Instrument, Maturity Date							Sep. 15, 2029
Debt Instrument, Convertible, Conversion Price | $ / shares		$ 11.11					$ 12.07
Debt Instrument, Convertible, Conversion Ratio		89.97					82.82
Debt Instrument, Convertible, Terms of Conversion Feature		1000					1000
2016 Performance grants [Domain] | Restricted Stock Units (RSUs) [Member]
Antidilutive securities excluded from diluted EPS		0.3
2018 Performance grants [Domain] | Restricted Stock Units (RSUs) [Member]
Antidilutive securities excluded from diluted EPS		0.1
2017 Performance grants [Domain] [Domain] | Restricted Stock Units (RSUs) [Member]
Antidilutive securities excluded from diluted EPS		0.3

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Goodwill and Other Intangible Assets and Long-Lived Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017
Goodwill	$ 942.8			$ 937.9
Amortization	$ 6.9	$ 7.2
Customer Relationships [Member]
Weighted average amortization period	12 years
Minimum [Member] | Customer Relationships [Member]
Intangible assets, useful life, minimum	1 year
Maximum [Member] | Customer Relationships [Member]
Intangible assets, useful life, minimum	17 years
Scenario, Forecast [Member]
Amortization			$ 25.6

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Goodwill and Other Intangible Assets and Long-Lived Assets (Schedule Of Total Intangible Assets Primarily Acquired Through Business Combinations) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Gross Carrying Value	$ 556.2	$ 552.9
Accumulated Amortization	(273.4)	(265.6)
Intangible assets, net	282.8	287.3
Software [Member]
Gross Carrying Value	41.3	41.3
Accumulated Amortization	(41.3)	(41.3)
Intangible assets, net	0.0	0.0
Trademarks [Member]
Gross Carrying Value	27.1	27.0
Accumulated Amortization	(27.1)	(26.3)
Intangible assets, net	0.0	0.7
Customer Relationships [Member]
Gross Carrying Value	487.8	484.6
Accumulated Amortization	(205.0)	(198.0)
Intangible assets, net	$ 282.8	$ 286.6

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Goodwill and Other Intangible Assets and Long-Lived Assets (Schedule Of Estimated Amortization Expense) (Details) $ in Millions	Mar. 31, 2018 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
For the year ended 2019	$ 24.9
For the year ended 2020	24.2
For the year ended 2021	22.5
For the year ended 2022	22.2
For the year ended 2023	22.2
Thereafter	$ 148.1

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Debt (Revolving Credit Facility) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Jan. 31, 2017
Credit facility, amount outstanding	$ 49.6	$ 99.3
Gain (Loss) on Extinguishment of Debt	1.0
Debt Instrument, Unamortized Discount	$ 0.4
Debt Instrument, Interest Rate, Basis for Effective Rate	0.04
Proceeds from (Repayments of) Debt	250
Line of Credit [Member]
Line of credit, maximum borrowing capacity			$ 215.0
Credit facility, amount outstanding	$ 50.0		100.0
Revolving Credit Facility [Member]
Line of credit, maximum borrowing capacity	$ 300.0		$ 300.0

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Debt (Convertible Debentures) (Details) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2018 USD ($) $ / shares	Dec. 31, 2009 USD ($) $ / shares	Jan. 01, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument
Deferred Tax Liabilities, Net, Noncurrent	$ 213.4		$ 223.7	$ 222.6
Debt Instrument, Convertible, Threshold Trading Days	20
Debt Instrument, Convertible, Threshold Consecutive Trading Days	30
Temporary Equity, Par Value	$ 59.0			$ 59.5
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger	130.00%
Debt Instrument, Convertible, Stock Price Trigger | $ / shares	$ 14.45
Maximum percentage of debenture trading price	98.00%
5.75% Junior Subordinated Convertible Debentures [Member]
Debt Instrument
Debt Instrument, Face Amount		$ 125.0
Debt Instrument, Interest Rate, Stated Percentage		5.75%
Convertible Debt, Fair Value Disclosures	$ 264.1	$ 56.3
Deferred Tax Liabilities, Net, Noncurrent		$ 32.7
Debt Instrument, Convertible, Terms of Conversion Feature	1000	1000
Debt Instrument, Convertible, Conversion Price | $ / shares	$ 11.11	$ 12.07
Debt Instrument, Convertible, Conversion Ratio	89.97	82.82
4.875% Unsecured Senior Notes [Member]
Debt Instrument
Debt Instrument, Interest Rate, Stated Percentage		4.875%
Extinguishment of Debt, Amount		$ 122.5

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Debt And Capital Lease Obligations Debt and Capital Lease Obligations (Other) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Accounts Receivable Securitization	$ 165.0	$ 103.0
Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	225.0
January 2018 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	90.0
January 2020 [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 135.0

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Debt (Schedule Of Debt And Capital Lease Obligations) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Debt Instrument
Term Loan, due 2019	$ 49.6	$ 99.3
Convertible Debentures, due 2029	66.0	65.5
Capital Lease Obligations	1.0	2.1
Accounts Receivable Securitization	165.0	103.0
Total debt	281.6	269.9
Less debt issuance costs	1.3	1.3
Total debt, net	280.3	268.6
Less current maturities	(50.3)	(0.9)
Long-term debt	$ 230.0	$ 267.7

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Debt And Capital Lease Obligations Debt and Capital Lease Obligations (Schedule of Future Minimum Payments) (Details) $ in Millions	Mar. 31, 2018 USD ($)
Long-term Debt and Capital Lease Obligations [Abstract]
2018	$ 0.6
2019	116.3
2020	99.1
2021	0.0
2022	0.0
Thereafter	125.0
Total	$ 341.0

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Restructuring Restructuring (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 10.7
Restructuring Reserve	3.8
2018 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 5.0
Employees affected	350
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 0.9
Employees affected	345
Facility Charge [Domain]
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 5.7
Restructuring Reserve	1.8
CEO Transition [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs	7.3
2017 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs		$ 12.8
Employees affected		315
Restructuring Reserve	$ 3.3		$ 5.8
buw Acquisition [Member] [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs		$ 0.9
Other Restructuring [Member] | 2017 Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Severance Costs		$ 2.2
Employees affected		150

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Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Pension Plan [Member]
Pension cost (benefit)	$ 3.2	$ 2.3
Other Pension Plans, Defined Benefit [Member]
Pension cost (benefit)	$ 0.5	$ 0.5

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Employee Benefit Plans (Details 1) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Pension Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	$ 0.4	$ 0.4
Interest cost	0.1	0.1
Pension cost	0.5	0.5
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	0.4	0.4
Interest cost	0.1	0.1
Pension Plan [Member]
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]
Service cost	1.1	1.4
Interest cost	2.1	1.9
Expected return on plan assets	(2.2)	(2.5)
Defined Benefit Plan, Amortization of Gain (Loss)	2.2	1.5
Pension cost	3.2	2.3
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
Service cost	1.1	1.4
Interest cost	$ 2.1	$ 1.9

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Stock-Based Compensation Plans (Narrative) (Details) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018 USD ($) $ / shares shares	Mar. 31, 2017 USD ($) $ / shares shares	Dec. 31, 2017 $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0.3		0.3
Options approved, weighted average exercise price | $ / shares	$ 13.45		$ 13.45
Stock-based compensation expense | $	$ 5.3	$ 4.3
Weighted average grant date, fair value, options outstanding | $ / shares	$ 3.86		$ 3.86
Awards Classified as Liabilities [Domain]
Stock-based compensation expense | $	$ 0.1	$ (0.1)
Time-Based Restricted Stock [Member]
Restricted stock units, common shares to be issed upon exercise	1.3		1.3
Granted, shares	0.4	0.2
Restricted stock units granted, weighted average fair value at date of grant | $ / shares	$ 23.32	$ 22.70
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ / shares	$ 23.45		$ 23.46
Total unrecognized compensation cost related to non-vested restricted stock and restricted stock units | $	$ 24.4
Weighted average recognition period (in years)	2.4
Performance Shares [Member]
Restricted stock units, common shares to be issed upon exercise	0.2		0.3
Granted, shares	0.2
Restricted stock units granted, weighted average fair value at date of grant | $ / shares	$ 23.58
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value | $ / shares	$ 23.58		$ 21.28
Performance Shares [Member] | Maximum [Member]
Payout range	200.00%
Performance Shares [Member] | Minimum [Member]
Payout range	50.00%
Retention Grants [Member] | Time-Based Restricted Stock [Member]
Granted, shares	0.2
2014 Performance grants [Domain] | Performance Shares [Member]
Total unrecognized compensation cost related to non-vested restricted stock and restricted stock units | $	$ 4.5
Various Dates [Domain] | Performance Shares [Member]
Granted, shares	0.1
Key terms not yet established [Member] | Performance Shares [Member]
Granted, shares		0.1

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Stock-Based Compensation Plans (Summary Of Stock Option Activity) (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	3 years 2 months 12 days	3 years 4 months 24 days
Share Based Compensation Arrangement By Share Based Payment Award, Options, Exercisable Weighted Average Fair Value			$ 3.86	$ 3.86
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term	3 years 2 months 12 days	3 years 4 months 24 days
Stock option activity, outstanding
Outstanding, beginning balance, shares	0.3
Exercisable, beginning balance, shares	0.3
Granted, shares	0.0
Exercised, shares
Forfeited/cancelled, shares	0.0
Outstanding, ending balance, shares	0.3	0.3
Exercisable, ending balance, shares	0.3	0.3
Granted, weighted average exercise price	$ 0.00
Exercised, weighted average exercise price
Forfeited/cancelled, weighted average exercise price	$ 0.00
Outstanding, weighted average exercise price			13.45	13.45
Exercisable, weighted average exercise price			$ 13.45	$ 13.45
Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract]
Outstanding, shares	0.3	0.3	0.3	0.3
Outstanding, weighted average exercise price			$ 13.45	$ 13.45
Exercisable, shares	0.3	0.3	0.3	0.3
Exercisable, weighted average exercise price			$ 13.45	$ 13.45
Share Based Compensation Arrangement By Share Based Payment Award, Options, Outstanding Unvested Weighted Average Fair Value Grant Date			$ 3.86	$ 3.86

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Stock-Based Compensation Plans (Fair Value Assumptions for Restricted Stock Awards) (Details) - shares shares in Millions	Mar. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	0.3	0.3

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Stock-Based Compensation Plans (Restricted Stock Units) (Details) - $ / shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Performance Shares [Member]
Changes to non-vested restricted stock and restricted stock units
Non-vested, beginning balance, shares	0.3
Non-vested, beginning balance, weighted average fair value at date of grant	$ 21.28
Granted, shares	0.2
Granted, weighted average fair value at date of grant	$ 23.58
Vested, shares	(0.3)
Vested, weighted average fair value at date of grant	$ 21.29
Forfeited, shares	0.0
Forfeited, weighted average fair value at date of grant	$ 0.00
Non-vested, ending balance, shares	0.2
Non-vested, ending balance, weighted average fair value at date of grant	$ 23.58
Time-Based Restricted Stock [Member]
Changes to non-vested restricted stock and restricted stock units
Non-vested, beginning balance, shares	1.3
Non-vested, beginning balance, weighted average fair value at date of grant	$ 23.46
Granted, shares	0.4	0.2
Granted, weighted average fair value at date of grant	$ 23.32	$ 22.70
Vested, shares	(0.4)
Vested, weighted average fair value at date of grant	$ 23.25
Forfeited, shares	0.0
Forfeited, weighted average fair value at date of grant	$ 0.00
Non-vested, ending balance, shares	1.3
Non-vested, ending balance, weighted average fair value at date of grant	$ 23.45

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Commitments And Contingencies (Details) $ in Millions	Mar. 31, 2018 USD ($)
Letters of credit outstanding amount	$ 13.7
Purchase Commitments	$ 12.5

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Financial Instruments (Narrative) (Details) ₱ in Millions, ₨ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018 AUD ($)	Mar. 31, 2018 INR (₨)	Mar. 31, 2018 COP ($)	Mar. 31, 2018 CAD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2018 PHP (₱)	Mar. 31, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Derivatives
Derivative, Notional Amount					$ 819.6			$ 835.5
Deferred Tax Liabilities, Derivatives					$ 3.2
Deferred Tax Assets, Derivative Instruments								3.6
Derivative instruments maturity period (in months)	33 months	33 months	33 months	33 months	33 months	33 months
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax					$ 9.7		$ 14.8	(10.4)	$ 25.5
Deferred gain on derivative instruments reclassified from OCI to earnings during the next the next twelve months, before tax					(9.0)
Deferred gain on derivative instruments reclassified from OCI to earnings during next twelve months, net of tax					(6.7)
Derivative Instruments Not Designated as Hedging Instruments, Gain							$ (2.6)
Derivative Instruments Not Designated as Hedging Instruments, Loss					(3.9)
Derivative Instruments Not Designated as Hedging Instruments, Liability, at Fair Value					0.2
Trading Securities, Fair Value Disclosure					13.1			$ 13.5
Forward Contracts PHP [Member]
Derivatives
Foreign currency acquired through forward exchange contracts | ₱						₱ 31,440.0
Derivative, Notional Amount					615.0
Forward Contracts INR [Member]
Derivatives
Foreign currency acquired through forward exchange contracts | ₨		₨ 9,645.0
Derivative, Notional Amount					133.4
Forward Contracts CAD [Member]
Derivatives
Foreign currency acquired through forward exchange contracts				$ 56.1
Derivative, Notional Amount					42.8
Forward Contracts COP [Member]
Derivatives
Foreign currency acquired through forward exchange contracts			$ 56,400.0
Derivative, Notional Amount					18.5
Forward Contracts AUD [Member]
Derivatives
Derivative, Notional Amount					$ 23.9
Amount of Foreign Currency Sold through Forward Exchange Contracts	$ 30.6

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Financial Instruments (Fair Value of Derivative Instruments) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Forward exchange contracts and options designated as hedging instruments, assets	$ 13.0	$ 24.2
Forward exchange contracts and options designated as hedging instruments, liabilities	25.8	19.2
Other Current Assets [Member]
Forward exchange contracts and options designated as hedging instruments, assets	9.9	14.5
Other Non-Current Assets [Member]
Forward exchange contracts and options designated as hedging instruments, assets	2.7	8.7
Other Current Liabilities [Member]
Forward exchange contracts and options designated as hedging instruments, liabilities	18.8	7.7
Other Noncurrent Liabilities [Member]
Forward exchange contracts and options designated as hedging instruments, liabilities	$ 6.6	$ 1.7

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Financial Instruments (Effect Of Derivative Instruments On Consolidated Financial Statements) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Derivative Instruments, Gain (Loss)
Foreign exchange contracts, Gain (Loss) Recognized in OCL	$ (29.0)	$ 9.8
Foreign exchange contracts, Gain Reclassified from AOCL to Income	$ (2.2)	$ (7.7)

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Fair Value Measurements (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Forward exchange contracts and options designated as hedging instruments, assets	$ 13.0	$ 24.2
Forward exchange contracts and options designated as hedging instruments, liabilities	25.8	19.2
Fair value assets	13.1	13.5
Equity Funds [Member]
Fair value assets	12.1	12.4
Money Market Funds [Member]
Fair value assets	1.0	1.1
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member]
Forward exchange contracts and options designated as hedging instruments, assets	0.0	0.0
Forward exchange contracts and options designated as hedging instruments, liabilities	0.0	0.0
Fair value assets	13.1	13.5
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Equity Funds [Member]
Fair value assets	12.1	12.4
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | Money Market Funds [Member]
Fair value assets	1.0	1.1
Significant Other Observable Inputs (Level 2) [Member]
Forward exchange contracts and options designated as hedging instruments, assets	13.0	24.2
Forward exchange contracts and options designated as hedging instruments, liabilities	25.8	19.2
Fair value assets	0.0	0.0
Significant Other Observable Inputs (Level 2) [Member] | Equity Funds [Member]
Fair value assets	0.0	0.0
Significant Other Observable Inputs (Level 2) [Member] | Money Market Funds [Member]
Fair value assets	0.0	0.0
Significant Unobservable Inputs (Level 3) [Member]
Forward exchange contracts and options designated as hedging instruments, assets	0.0	0.0
Forward exchange contracts and options designated as hedging instruments, liabilities	0.0	0.0
Fair value assets	0.0	0.0
Significant Unobservable Inputs (Level 3) [Member] | Equity Funds [Member]
Fair value assets	0.0	0.0
Significant Unobservable Inputs (Level 3) [Member] | Money Market Funds [Member]
Fair value assets	$ 0.0	$ 0.0

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Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Effective Income Tax Rate Reconciliation, Percent	0.00%		0.00%
Tax Adjustments, Settlements, and Unusual Provisions	$ 8.6
Liability for unrecognized tax benefits	10.1
Accrued interest and penalties recorded in other long-term liabilities		$ 21.3
Unrecognized tax benefits that would affect income tax expense	8.6
Interest and penalties share in unrecognized tax benefits	3.8
Provisional Net Tax Expense Resulting from the Enactment of the 2017 Tax Act [Line Items]		$ 34.1
Adjustment to Provisional Net Tax Expense Resulting from the Enactment of the 2017 Tax Act	1.4
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	1.3
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit	$ 5.5

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Additional Financial Information (Schedule Of Payables And Other Current Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accounts payable	$ 53.8	$ 41.3
Accrued taxes	27.1	41.9
Accrued payroll-related expenses	119.7	131.6
Derivative Liabilities	19.1	17.6
Accrued expenses, other	61.7	63.5
Restructuring and exit costs	14.5	8.7
Deferred Revenue, Current	13.7	17.5
Accounts Payable and Accrued Liabilities, Current	$ 309.6	$ 322.1

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Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income/(Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017	Dec. 31, 2016
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	$ (29.0)	$ (53.6)	$ (35.4)	$ (56.6)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Gain (Loss) Arising During Period, Net of Tax	6.4	3.0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Reclassification Adjustment from AOCI, Realized upon Sale or Liquidation, Net of Tax	0.0	0.0
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Parent	6.4	3.0
Accumulated Other Comprehensive Income (Loss), Cumulative Changes in Net Gain (Loss) from Cash Flow Hedges, Effect Net of Tax	(9.7)	(14.8)	10.4	(25.5)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax	(21.7)	6.0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	1.6	4.7
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	(20.1)	10.7
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(46.1)	(30.8)	(41.6)	(31.7)
Other Comprehensive (Income) Loss, Defined Benefit Plan, before Reclassification Adjustment, after Tax	(6.0)	0.0
Other Comprehensive (Income) Loss, Reclassification Adjustment from AOCI, Pension and Other Postretirement Benefit Plans, for Net (Gain) Loss, Net of Tax	1.5	0.9
Other Comprehensive (Income) Loss, Defined Benefit Plan, after Reclassification Adjustment, after Tax	(4.5)	0.9
Accumulated Other Comprehensive Income (Loss), Net of Tax	(84.8)	(99.2)	$ (66.6)	$ (113.8)
Other comprehensive income (loss) before relclassification	(21.3)	9.0
Amounts reclassified from accumulated other comprehensive income	3.1	5.6
Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Parent	$ (18.2)	$ 14.6

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Accumulated Other Comprehensive Income (Loss) Accumulated Other Comprehensive Income/(Loss) Reclassifications out of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accumulated Other Comprehensive Income (Loss) [Line Items]
Derivative Instruments, Loss Reclassified from Accumulated OCI into Income, Effective Portion	$ (2.2)	$ (7.7)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, Tax	0.6	3.0
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	(1.6)	(4.7)
Other Comprehensive Income (Loss), Reclassification Adjustment on Pension and Other Post Retirement Obligations included in Net Income, before Tax	(2.0)	(1.5)
Other Comprehensive Income (Loss), Reclassification Adjustment on Pension and Other Post Retirement Obligations included in Net Income, Tax	0.5	0.6
Other Comprehensive Income (Loss), Reclassification Adjustment on Pension and Other Post Retirement Obligations included in Net Income, Net of Tax	(1.5)	(0.9)
Amounts Reclassifed from Accumulated Other Comprehensive Income, Net of Tax	$ (3.1)	$ (5.6)