XML 61 R20.htm IDEA: XBRL DOCUMENT
v2.3.0.15

Debt, Credit Arrangements and Preferred Stock (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2011
Debt, Credit Arrangements and Preferred Stock [Abstract] |
Summary of Carrying Amounts and Fair Values of Long-term Debt | A summary of the carrying amounts and fair values of our long-term debt is listed below.
| Effective Interest Rate |  | September 30, 2011 |  | December 31, 2010
Book Value |  | Fair Value 2 |  | Book Value |  | Fair Value 2
7.25% Senior Unsecured Notes due 2011 | 7.25 | % | 1 | $ | 0.0 |  |  | $ | 0.0 |  |  | $ | 36.3 |  |  | $ | 37.0 |
6.25% Unsecured Notes due 2014 (less unamortized discount of $0.3) | 6.29 | % | 1 | 354.6 |  |  | 370.1 |  |  | 353.3 |  |  | 378.0 |
10.00% Senior Unsecured Notes due 2017 (less unamortized discount of $9.7) | 10.38 | % |  | 590.3 |  |  | 681.0 |  |  | 589.4 |  |  | 705.0 |
4.75% Convertible Senior Notes due 2023 (plus unamortized premium of $3.3) | 3.50 | % |  | 203.3 |  |  | 213.8 |  |  | 205.0 |  |  | 235.0 |
4.25% Convertible Senior Notes due 2023 (plus unamortized premium of $6.6) | 0.58 | % |  | 406.6 |  |  | 404.5 |  |  | 417.4 |  |  | 444.4 |
Other notes payable and capitalized leases |  |  | 19.9 |  |  |  |  | 20.8 |  |  |
Total long-term debt |  |  | 1,574.7 |  |  |  |  | 1,622.2 |  |  |
Less: current portion 3 |  |  | 408.5 |  |  |  |  | 38.9 |  |  |
Long-term debt, excluding current portion |  |  | $ | 1,166.2 |  |  |  |  | $ | 1,583.3 |  |  |
1 | Excludes the effect of related interest rate swaps.
2 | Fair values are derived from trading quotes by institutions making a market in the securities and estimations of value by those institutions using proprietary models.
3 | On March 15, 2012, holders of our 4.25% Convertible Senior Notes due 2023 (the “4.25% Notes”) may require us to repurchase their notes for cash at par and as such, we included these notes in the current portion of long-term debt on our September 30, 2011 unaudited Consolidated Balance Sheet. Any 4.25% Notes not repurchased on March 15, 2012 will be reclassified to long-term debt.
Summary of Financial Covenants in Credit Agreement | The table below sets forth the financial covenants in effect as of September 30, 2011 and thereafter.
|  | Q3 2011 |  | Q4 2011 & Thereafter
Interest coverage ratio (not less than): 1 |  | 5.00x |  | 5.00x
Leverage ratio (not greater than): 2 |  | 3.00x |  | 2.75x
1 | The interest coverage ratio is defined as EBITDA, as defined in the Credit Agreement, to net interest expense plus cash dividends on convertible preferred stock for the four quarters then ended.
2 | The leverage ratio is defined as debt as of the last day of such fiscal quarter to EBITDA, as defined in the Credit Agreement, for the four quarters then ended.

X
- Definition Debt, Credit Arrangements and Preferred Stock [Abstract] + Details
Name: | ipg_DebtCreditArrangementsAndPreferredStockAbstract
Namespace Prefix: | ipg
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financial covenants in the credit agreement by quarter, including interest coverage ratio, leverage ratio and minimum EBITDA. + Details
Name: | ipg_ScheduleOfFinancialCovenantsInCreditAgreementTableTextBlock
Namespace Prefix: | ipg
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21538-112644 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28551-108399 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6479336&loc=d3e64711-112823 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=6451184&loc=d3e28541-108399 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=6584090&loc=d3e28878-108400 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 22 -Article 5 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21521-112644 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21475-112644 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6928386&loc=d3e21506-112644 + Details
Name: | us-gaap_ScheduleOfDebtInstrumentsTextBlock
Namespace Prefix: | us-gaap
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration