XML 21 R13.htm IDEA: XBRL DOCUMENT v3.19.3
Supplementary Data (Notes)
 9 Months Ended
Sep. 30, 2019
Supplementary Data [Abstract]  
Accrued Liabilities
Accrued Liabilities
The following table presents the components of accrued liabilities.
 
September 30,
2019
 
December 31,
2018
Salaries, benefits and related expenses
$
395.3

 
$
494.9

Interest
59.1

 
43.6

Acquisition obligations
41.6

 
65.7

Office and related expenses
24.3

 
52.2

Restructuring charges
3.6

 
0.0

Other
110.4

 
150.5

Total accrued liabilities
$
634.3

 
$
806.9
Other Income, Net
Other Expense, Net
Results of operations for the three and nine months ended September 30, 2019 and 2018 include certain items that are not directly associated with our revenue-producing operations.
 
Three months ended
September 30,
 
Nine months ended
September 30,
 
2019
 
2018
 
2019
 
2018
Net losses on sales of businesses
$
(7.7
)
 
$
(5.8
)
 
$
(19.5
)
 
$
(50.0
)
Other
0.3

 
(9.5
)
 
1.4

 
(6.0
)
Total other expense, net
$
(7.4
)
 
$
(15.3
)
 
$
(18.1
)
 
$
(56.0
)

Net losses on sales of businesses – During the three and nine months ended September 30, 2019, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale within our IAN reportable segment. During the three and nine months ended September 30, 2018, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale within our IAN and CMG reportable segments. The businesses held for sale primarily represent unprofitable, non-strategic agencies which are expected to be sold within the next twelve months.
Other – During the nine months ended September 30, 2019, the amounts recognized are primarily a result of changes in fair market value of equity investments, partially offset by the sale of an equity investment. During the three and nine months ended September 30, 2018, the amounts recognized are primarily a result of transaction-related costs from the Acxiom acquisition.
Share Repurchase Program
Share Repurchase Program
On July 2, 2018, in connection with the announcement of the Acxiom acquisition, we announced that share repurchases will be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition. As of September 30, 2019, $338.4, excluding fees, remains available for repurchase under the share repurchase programs authorized in previous years, which have no expiration date.