Earnings Per Share (Notes)

12 Months Ended

Dec. 31, 2015

The following sets forth basic and diluted earnings per common share available to IPG common stockholders.



	Years ended December 31,
	2015		2014		2013
Net income available to IPG common stockholders - basic	$	454.6	$	477.1	$	259.2
Adjustments: Effect of dilutive securities
Interest on 4.75% Notes ¹	0.0		0.0		0.8
Net income available to IPG common stockholders - diluted	$	454.6	$	477.1	$	260.0


Weighted-average number of common shares outstanding - basic	408.1		419.2		421.1
Add: Effect of dilutive securities
Restricted stock, stock options and other equity awards	7.6		6.2		5.2
4.75% Notes ¹	0.0		0.0		3.3

Weighted-average number of common shares outstanding - diluted	415.7		425.4		429.6


Earnings per share available to IPG common stockholders - basic	$	1.11	$	1.14	$	0.62
Earnings per share available to IPG common stockholders - diluted	$	1.09	$	1.12	$	0.61


1	We retired all of our outstanding 4.75% Convertible Senior Notes due 2023 (the "4.75% Notes") in March 2013. For purposes of calculating diluted earnings per share for 2013, the potentially dilutive shares are pro-rated based on the period in which they were outstanding.

The following table presents the potential shares excluded from the diluted earnings per share calculation because the effect of including these potential shares would be antidilutive.



	Years ended December 31,
	2015	2014	2013
Preferred Stock Outstanding ¹	0.0	0.0	13.7
Securities excluded from the diluted earnings per share calculation because the exercise price was greater than the average market price:
Stock options ²	0.0	0.0	0.1


1	We converted all of our 5 1/4% Series B Cumulative Convertible Perpetual Preferred Stock into common stock in October 2013. For purposes of calculating diluted earnings per share for 2013, the potentially dilutive shares would have been pro-rated based on the period they were outstanding but were antidilutive.


2	These options were outstanding at the end of the respective periods. In any period in which the exercise price is less than the average market price, these options have the potential to be dilutive, and application of the treasury stock method would reduce this amount.