XML 63 R45.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Revenue (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2018
Revenue from Contract with Customer [Abstract] |
Condensed Income Statement [Table Text Block] | CONSOLIDATED STATEMENT OF OPERATIONS
| Year ended December 31, 2017 |  | Year ended December 31, 2016
| As Revised 1 |  | ASC 606 Adjustments |  | As Adjusted |  | As Revised 1 |  | ASC 606 Adjustments |  | As Adjusted
REVENUE: |  |  |  |  |  |  |  |  |  |  |
Net revenue | $ | 7,508.7 |  |  | $ | (35.2 | ) |  | $ | 7,473.5 |  |  | $ | 7,456.9 |  |  | $ | (4.6 | ) |  | $ | 7,452.3 |
Billable expenses | 373.7 |  |  | 1,200.4 |  |  | 1,574.1 |  |  | 389.7 |  |  | 1,214.2 |  |  | 1,603.9 |
Total revenue | 7,882.4 |  |  | 1,165.2 |  |  | 9,047.6 |  |  | 7,846.6 |  |  | 1,209.6 |  |  | 9,056.2 |
OPERATING EXPENSES: |  |  |  |  |  |  |  |  |  |  |
Salaries and related expenses | 4,990.7 |  |  | — |  |  | 4,990.7 |  |  | 4,942.2 |  |  | — |  |  | 4,942.2 |
Office and other direct expenses | 1,268.8 |  |  | — |  |  | 1,268.8 |  |  | 1,274.9 |  |  | — |  |  | 1,274.9 |
Billable expenses | 373.7 |  |  | 1,200.4 |  |  | 1,574.1 |  |  | 389.7 |  |  | 1,214.2 |  |  | 1,603.9 |
Cost of services | 6,633.2 |  |  | 1,200.4 |  |  | 7,833.6 |  |  | 6,606.8 |  |  | 1,214.2 |  |  | 7,821.0 |
Selling, general and administrative expenses | 118.5 |  |  | — |  |  | 118.5 |  |  | 138.6 |  |  | — |  |  | 138.6 |
Depreciation and amortization | 157.1 |  |  | — |  |  | 157.1 |  |  | 160.2 |  |  | — |  |  | 160.2 |
Total operating expenses | 6,908.8 |  |  | 1,200.4 |  |  | 8,109.2 |  |  | 6,905.6 |  |  | 1,214.2 |  |  | 8,119.8 |
OPERATING INCOME | 973.6 |  |  | (35.2 | ) |  | 938.4 |  |  | 941.0 |  |  | (4.6 | ) |  | 936.4 |
EXPENSES AND OTHER INCOME: |  |  |  |  |  |  |  |  |  |  |
Interest expense | (90.8 | ) |  | — |  |  | (90.8 | ) |  | (90.6 | ) |  | — |  |  | (90.6 | )
Interest income | 19.4 |  |  | — |  |  | 19.4 |  |  | 20.1 |  |  | — |  |  | 20.1 |
Other expense, net | (26.2 | ) |  | — |  |  | (26.2 | ) |  | (40.3 | ) |  | — |  |  | (40.3 | )
Total (expenses) and other income | (97.6 | ) |  | — |  |  | (97.6 | ) |  | (110.8 | ) |  | — |  |  | (110.8 | )
Income before income taxes | 876.0 |  |  | (35.2 | ) |  | 840.8 |  |  | 830.2 |  |  | (4.6 | ) |  | 825.6 |
Provision for income taxes | 281.9 |  |  | (10.6 | ) |  | 271.3 |  |  | 198.0 |  |  | (1.1 | ) |  | 196.9 |
Income of consolidated companies | 594.1 |  |  | (24.6 | ) |  | 569.5 |  |  | 632.2 |  |  | (3.5 | ) |  | 628.7 |
Equity in net income of unconsolidated affiliates | 0.9 |  |  | — |  |  | 0.9 |  |  | 0.3 |  |  | — |  |  | 0.3 |
NET INCOME | 595.0 |  |  | (24.6 | ) |  | 570.4 |  |  | 632.5 |  |  | (3.5 | ) |  | 629.0 |
Net income attributable to noncontrolling interests | (16.0 | ) |  | — |  |  | (16.0 | ) |  | (24.0 | ) |  | — |  |  | (24.0 | )
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS | $ | 579.0 |  |  | $ | (24.6 | ) |  | $ | 554.4 |  |  | $ | 608.5 |  |  | $ | (3.5 | ) |  | $ | 605.0 |
Earnings per share available to IPG common stockholders: |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 1.49 |  |  | $ | (0.07 | ) |  | $ | 1.42 |  |  | $ | 1.53 |  |  | $ | (0.01 | ) |  | $ | 1.52 |
Diluted | $ | 1.46 |  |  | $ | (0.06 | ) |  | $ | 1.40 |  |  | $ | 1.49 |  |  | $ | (0.01 | ) |  | $ | 1.48 |
Weighted-average number of common shares outstanding: |  |  |  |  |  |  |  |  |  |  |
Basic | 389.6 |  |  | — |  |  | 389.6 |  |  | 397.9 |  |  | — |  |  | 397.9 |
Diluted | 397.3 |  |  | — |  |  | 397.3 |  |  | 408.0 |  |  | — |  |  | 408.0 |
1 | These amounts have been revised for the new presentation as described in Note 1.
Condensed Cash Flow Statement [Table Text Block] | CONSOLIDATED STATEMENT OF CASH FLOWS
| Year ended December 31, 2017
| As Reported |  | ASC 606 Adjustments |  | As Adjusted
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net income | $ | 595.0 |  |  | $ | (24.6 | ) |  | $ | 570.4 |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |
Depreciation and amortization | 157.1 |  |  | — |  |  | 157.1 |
Provision for uncollectible receivables | 9.5 |  |  | — |  |  | 9.5 |
Amortization of restricted stock and other non-cash compensation | 82.0 |  |  | — |  |  | 82.0 |
Net amortization of bond discounts and deferred financing costs | 5.8 |  |  | — |  |  | 5.8 |
Deferred income tax provision | 1.1 |  |  | (10.6 | ) |  | (9.5 | )
Net losses on sales of businesses | 24.1 |  |  | — |  |  | 24.1 |
Other | 12.7 |  |  | — |  |  | 12.7 |
Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash: |  |  |  |  |
Accounts receivable | 37.6 |  |  | — |  |  | 37.6 |
Expenditures billable to clients | (165.5 | ) |  | 165.5 |  |  | — |
Accounts receivable, billable to clients | — |  |  | (165.5 | ) |  | (165.5 | )
Other current assets | 27.4 |  |  | 22.7 |  |  | 50.1 |
Accounts payable | 311.9 |  |  | 24.5 |  |  | 336.4 |
Accrued liabilities | (241.3 | ) |  | — |  |  | (241.3 | )
Contract liabilities | — |  |  | (12.0 | ) |  | (12.0 | )
Other non-current assets and liabilities | 24.4 |  |  | — |  |  | 24.4 |
Net cash provided by operating activities | 881.8 |  |  | — |  |  | 881.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Net cash used in investing activities | (196.2 | ) |  | — |  |  | (196.2 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Net cash used in financing activities | (1,004.9 | ) |  | — |  |  | (1,004.9 | )
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 16.8 |  |  | — |  |  | 16.8 |
Net decrease in cash, cash equivalents and restricted cash | (302.5 | ) |  | — |  |  | (302.5 | )
Cash, cash equivalents and restricted cash at beginning of period | 1,100.2 |  |  | — |  |  | 1,100.2 |
Cash, cash equivalents and restricted cash at end of period | $ | 797.7 |  |  | $ | — |  |  | $ | 797.7 |
| Year ended December 31, 2016
| As Reported |  | ASC 606 Adjustments |  | As Adjusted
CASH FLOWS FROM OPERATING ACTIVITIES: |  |  |  |  |
Net income | $ | 632.5 |  |  | $ | (3.5 | ) |  | $ | 629.0 |
Adjustments to reconcile net income to net cash used in operating activities: |  |  |  |  |
Depreciation and amortization | 160.2 |  |  | — |  |  | 160.2 |
Provision for uncollectible receivables | 16.7 |  |  | — |  |  | 16.7 |
Amortization of restricted stock and other non-cash compensation | 85.6 |  |  | — |  |  | 85.6 |
Net amortization of bond discounts and deferred financing costs | 5.6 |  |  | — |  |  | 5.6 |
Deferred income tax provision | 45.7 |  |  | (1.1 | ) |  | 44.6 |
Net losses on sales of businesses | 41.4 |  |  | — |  |  | 41.4 |
Other | 35.5 |  |  | — |  |  | 35.5 |
Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash: |  |  |  |  |
Accounts receivable | (220.7 | ) |  | — |  |  | (220.7 | )
Expenditures billable to clients | (2.2 | ) |  | 2.2 |  |  | — |
Accounts receivable, billable to clients | — |  |  | (2.2 | ) |  | (2.2 | )
Other current assets | (4.8 | ) |  | 5.3 |  |  | 0.5 |
Accounts payable | (126.1 | ) |  | (21.3 | ) |  | (147.4 | )
Accrued liabilities | (61.1 | ) |  | — |  |  | (61.1 | )
Contract liabilities | — |  |  | 20.6 |  |  | 20.6 |
Other non-current assets and liabilities | (95.5 | ) |  | — |  |  | (95.5 | )
Net cash provided by operating activities | 512.8 |  |  | — |  |  | 512.8 |
CASH FLOWS FROM INVESTING ACTIVITIES: |  |  |  |  |
Net cash used in investing activities | (263.9 | ) |  | — |  |  | (263.9 | )
CASH FLOWS FROM FINANCING ACTIVITIES: |  |  |  |  |
Net cash used in financing activities | (666.4 | ) |  | — |  |  | (666.4 | )
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 11.6 |  |  | — |  |  | 11.6 |
Net decrease in cash, cash equivalents and restricted cash | (405.9 | ) |  | — |  |  | (405.9 | )
Cash, cash equivalents and restricted cash at beginning of period | 1,506.1 |  |  | — |  |  | 1,506.1 |
Cash, cash equivalents and restricted cash at end of period | $ | 1,100.2 |  |  | $ | — |  |  | $ | 1,100.2 |
Condensed Balance Sheet [Table Text Block] | CONSOLIDATED BALANCE SHEET
| December 31, 2017
| As Reported |  | ASC 606 Adjustments |  | As Adjusted
ASSETS: |  |  |  |  |
Cash and cash equivalents | $ | 790.9 |  |  | $ | — |  |  | $ | 790.9 |
Accounts receivable, net of allowance of $42.7 | 4,585.0 |  |  | — |  |  | 4,585.0 |
Expenditures billable to clients | 1,747.4 |  |  | (1,747.4 | ) |  | — |
Accounts receivable, billable to clients | — |  |  | 1,747.4 |  |  | 1,747.4 |
Assets held for sale | 5.7 |  |  | — |  |  | 5.7 |
Other current assets | 335.1 |  |  | 11.4 |  |  | 346.5 |
Total current assets | 7,464.1 |  |  | 11.4 |  |  | 7,475.5 |
Property and equipment, net of accumulated depreciation of $1,036.2 | 650.4 |  |  | — |  |  | 650.4 |
Deferred income taxes | 236.0 |  |  | (2.0 | ) |  | 234.0 |
Goodwill | 3,820.4 |  |  | — |  |  | 3,820.4 |
Other intangible assets | 140.7 |  |  | — |  |  | 140.7 |
Other non-current assets | 383.6 |  |  | 0.1 |  |  | 383.7 |
TOTAL ASSETS | $ | 12,695.2 |  |  | $ | 9.5 |  |  | $ | 12,704.7 |
LIABILITIES: |  |  |  |  |
Accounts payable | $ | 6,907.8 |  |  | $ | (487.6 | ) |  | $ | 6,420.2 |
Accrued liabilities | 674.7 |  |  | — |  |  | 674.7 |
Contract liabilities | — |  |  | 484.7 |  |  | 484.7 |
Short-term borrowings | 84.9 |  |  | — |  |  | 84.9 |
Current portion of long-term debt | 2.0 |  |  | — |  |  | 2.0 |
Liabilities held for sale | 8.8 |  |  | — |  |  | 8.8 |
Total current liabilities | 7,678.2 |  |  | (2.9 | ) |  | 7,675.3 |
Long-term debt | 1,285.6 |  |  | — |  |  | 1,285.6 |
Deferred compensation | 476.6 |  |  | — |  |  | 476.6 |
Other non-current liabilities | 766.9 |  |  | 1.9 |  |  | 768.8 |
TOTAL LIABILITIES | 10,207.3 |  |  | (1.0 | ) |  | 10,206.3 |
Redeemable noncontrolling interests | 252.1 |  |  | — |  |  | 252.1 |
STOCKHOLDERS’ EQUITY: |  |  |  |  |
Common stock | 38.6 |  |  | — |  |  | 38.6 |
Additional paid-in capital | 955.2 |  |  | — |  |  | 955.2 |
Retained earnings | 2,093.6 |  |  | 10.9 |  |  | 2,104.5 |
Accumulated other comprehensive loss, net of tax | (827.4 | ) |  | (0.4 | ) |  | (827.8 | )
| 2,260.0 |  |  | 10.5 |  |  | 2,270.5 |
Less: Treasury stock | (59.0 | ) |  | — |  |  | (59.0 | )
Total IPG stockholders’ equity | 2,201.0 |  |  | 10.5 |  |  | 2,211.5 |
Noncontrolling interests | 34.8 |  |  | — |  |  | 34.8 |
TOTAL STOCKHOLDERS’ EQUITY | 2,235.8 |  |  | 10.5 |  |  | 2,246.3 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 12,695.2 |  |  | $ | 9.5 |  |  | $ | 12,704.7 |
Revenue from External Customers by Geographic Areas [Table Text Block] |
| Years ended December 31,
Total revenue: | 2018 |  | 2017 |  | 2016
United States | $ | 5,851.0 |  |  | $ | 5,417.3 |  |  | $ | 5,452.6 |
International: |  |  |  |  |
United Kingdom | 881.4 |  |  | 775.7 |  |  | 788.8 |
Continental Europe | 840.2 |  |  | 780.6 |  |  | 764.1 |
Asia Pacific | 1,170.8 |  |  | 1,106.4 |  |  | 1,076.0 |
Latin America | 389.0 |  |  | 386.6 |  |  | 417.2 |
Other | 582.0 |  |  | 581.0 |  |  | 557.5 |
Total International | 3,863.4 |  |  | 3,630.3 |  |  | 3,603.6 |
Total Consolidated | $ | 9,714.4 |  |  | $ | 9,047.6 |  |  | $ | 9,056.2 |
| Years ended December 31,
Net revenue: | 2018 |  | 2017 |  | 2016
United States | $ | 4,825.0 |  |  | $ | 4,458.8 |  |  | $ | 4,443.2 |
International: |  |  |  |  |
United Kingdom | 711.7 |  |  | 613.1 |  |  | 604.3 |
Continental Europe | 737.5 |  |  | 687.8 |  |  | 682.0 |
Asia Pacific | 896.8 |  |  | 866.9 |  |  | 887.7 |
Latin America | 350.1 |  |  | 350.8 |  |  | 367.8 |
Other | 510.5 |  |  | 496.1 |  |  | 467.3 |
Total International | 3,206.6 |  |  | 3,014.7 |  |  | 3,009.1 |
Total Consolidated | $ | 8,031.6 |  |  | $ | 7,473.5 |  |  | $ | 7,452.3 |
IAN | Years ended December 31,
Total revenue: | 2018 |  | 2017 |  | 2016
United States | $ | 4,279.4 |  |  | $ | 4,062.3 |  |  | $ | 4,075.9 |
International | 3,095.0 |  |  | 2,947.3 |  |  | 2,916.9 |
Total IAN | $ | 7,374.4 |  |  | $ | 7,009.6 |  |  | $ | 6,992.8 |
Net revenue: |  |  |  |  |
United States | $ | 3,832.7 |  |  | $ | 3,660.6 |  |  | $ | 3,600.3 |
International | 2,753.1 |  |  | 2,606.1 |  |  | 2,601.1 |
Total IAN | $ | 6,585.8 |  |  | $ | 6,266.7 |  |  | $ | 6,201.4 |
CMG | Years ended December 31,
Total revenue: | 2018 |  | 2017 |  | 2016
United States | $ | 1,404.0 |  |  | $ | 1,355.0 |  |  | $ | 1,376.7 |
International | 754.3 |  |  | 683.0 |  |  | 686.7 |
Total CMG | $ | 2,158.3 |  |  | $ | 2,038.0 |  |  | $ | 2,063.4 |
Net revenue: |  |  |  |  |
United States | $ | 824.6 |  |  | $ | 798.2 |  |  | $ | 842.9 |
International | 439.5 |  |  | 408.6 |  |  | 408.0 |
Total CMG | $ | 1,264.1 |  |  | $ | 1,206.8 |  |  | $ | 1,250.9 |
Contract with Customer, Asset and Liability [Table Text Block] | Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
| December 31, 2018 |  | December 31, 2017
Accounts receivable, net of allowance of $42.5 and $42.7, respectively | $ | 5,126.6 |  |  | $ | 4,585.0 |
Accounts receivable, billable to clients | 1,900.6 |  |  | 1,747.4 |
Contract assets | 67.9 |  |  | 11.5 |
Contract liabilities (deferred revenue) | 533.9 |  |  | 484.7 |

X
- Definition Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedBalanceSheetTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed cash flow statement, including, but not limited to, cash flow statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedCashFlowStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of condensed income statement, including, but not limited to, income statements of consolidated entities and consolidation eliminations. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 3 -Paragraph i -Subsection 10 + Details
Name: | srt_ScheduleOfCondensedIncomeStatementTableTextBlock
Namespace Prefix: | srt_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of contract balances and changes in contract balances. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=109196051&loc=SL49130551-203045 + Details
Name: | us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of revenue from external customers by geographic areas attributed to the entity's country of domicile and to foreign countries from which the entity derives revenue. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Subparagraph a -URI http://asc.fasb.org/extlink&oid=115929826&loc=d3e9038-108599 + Details
Name: | us-gaap_RevenueFromExternalCustomersByGeographicAreasTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration