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v3.20.4

Results by Quarter (Unaudited) (Notes) | 12 Months Ended
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Dec. 31, 2020
Quarterly Financial Information Disclosure [Abstract] |
Quarterly Financial Information | Results by Quarter (Unaudited)
| Three Months Ended March 31, |  | Three Months Ended June 30, |  | Three Months Ended September 30, |  | Three Months Ended December 31,
| 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
Revenue: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net revenue | $ | 1,972.1 |  |  | $ | 2,004.8 |  |  | $ | 1,853.4 |  |  | $ | 2,125.9 |  |  | $ | 1,954.6 |  |  | $ | 2,061.4 |  |  | $ | 2,284.4 |  |  | $ | 2,433.0 |
Billable expenses | 387.7 |  |  | 356.4 |  |  | 172.3 |  |  | 394.3 |  |  | 170.9 |  |  | 376.7 |  |  | 265.6 |  |  | 468.8 |
Total Revenue | 2,359.8 |  |  | 2,361.2 |  |  | 2,025.7 |  |  | 2,520.2 |  |  | 2,125.5 |  |  | 2,438.1 |  |  | 2,550.0 |  |  | 2,901.8 |
Operating Expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Salaries and related expenses | 1,422.8 |  |  | 1,421.1 |  |  | 1,306.1 |  |  | 1,381.2 |  |  | 1,269.9 |  |  | 1,334.4 |  |  | 1,346.2 |  |  | 1,432.1 |
Office and other direct expenses | 378.2 |  |  | 389.2 |  |  | 317.0 |  |  | 387.3 |  |  | 307.9 |  |  | 367.9 |  |  | 364.8 |  |  | 419.7 |
Billable expenses | 387.7 |  |  | 356.4 |  |  | 172.3 |  |  | 394.3 |  |  | 170.9 |  |  | 376.7 |  |  | 265.6 |  |  | 468.8 |
Cost of services | 2,188.7 |  |  | 2,166.7 |  |  | 1,795.4 |  |  | 2,162.8 |  |  | 1,748.7 |  |  | 2,079.0 |  |  | 1,976.6 |  |  | 2,320.6 |
Selling, general and administrative expenses | 22.4 |  |  | 41.4 |  |  | 4.1 |  |  | 18.1 |  |  | 9.9 |  |  | 9.8 |  |  | 22.4 |  |  | 24.5 |
Depreciation and amortization | 72.8 |  |  | 71.1 |  |  | 73.1 |  |  | 73.0 |  |  | 71.0 |  |  | 69.0 |  |  | 73.7 |  |  | 65.4 |
Restructuring Charges 1 | 0.0 |  |  | 31.8 |  | 112.6 |  |  | 2.1 |  | 47.3 |  | 0.0 |  | 253.9 |  | 0.0
Total operating expenses | 2,283.9 |  |  | 2,311.0 |  |  | 1,985.2 |  |  | 2,256.0 |  |  | 1,876.9 |  |  | 2,157.8 |  |  | 2,326.6 |  |  | 2,410.5 |
Operating income | 75.9 |  |  | 50.2 |  |  | 40.5 |  |  | 264.2 |  |  | 248.6 |  |  | 280.3 |  |  | 223.4 |  |  | 491.3 |
Net interest expense | (34.1) |  |  | (42.0) |  |  | (43.9) |  |  | (43.9) |  |  | (44.7) |  |  | (40.2) |  |  | (40.0) |  |  | (38.7) |
Other expense, net 2 | (21.8) |  |  | (6.9) |  |  | (21.5) |  |  | (3.8) |  |  | (11.3) |  |  | (7.4) |  |  | (9.8) |  |  | (24.8) |
Total (expenses) and other income | (55.9) |  |  | (48.9) |  |  | (65.4) |  |  | (47.7) |  |  | (56.0) |  |  | (47.6) |  |  | (49.8) |  |  | (63.5) |
Provision for (benefit of) for income taxes 3 | 17.2 |  |  | 10.5 |  |  | 19.0 |  |  | 43.6 |  |  | (86.3) |  |  | 64.6 |  |  | 58.1 |  |  | 86.1 |
Net income (loss) | 2.6 |  |  | (9.5) |  |  | (43.9) |  |  | 172.8 |  |  | 278.5 |  |  | 168.4 |  |  | 117.0 |  |  | 342.2 |
Net income (loss) available to IPG common stockholders | $ | 4.7 |  |  | $ | (8.0) |  |  | $ | (45.6) |  |  | $ | 169.5 |  |  | $ | 279.7 |  |  | $ | 165.6 |  |  | $ | 112.3 |  |  | $ | 328.9 |
Earnings (loss) per share available to IPG common stockholders: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic | $ | 0.01 |  |  | $ | (0.02) |  |  | $ | (0.12) |  |  | $ | 0.44 |  |  | $ | 0.72 |  |  | $ | 0.43 |  |  | $ | 0.29 |  |  | $ | 0.85 |
Diluted | $ | 0.01 |  |  | $ | (0.02) |  |  | $ | (0.12) |  |  | $ | 0.43 |  |  | $ | 0.71 |  |  | $ | 0.42 |  |  | $ | 0.28 |  |  | $ | 0.84 |
Dividends declared per common share | $ | 0.255 |  |  | $ | 0.235 |  |  | $ | 0.255 |  |  | $ | 0.235 |  |  | $ | 0.255 |  |  | $ | 0.235 |  |  | $ | 0.255 |  |  | $ | 0.235 |
1 The three months ended June 30, September 30 and December 31, 2020 included restructuring charges of $112.6, $47.3 and $253.9, respectively. The three months ended March 31 and June 30, 2019 included restructuring charges of $31.8 and $2.1, respectively. See "Restructuring Charges" Note 11 for further information. 2 The three months ended March 31, June 30 September 30 and December 31, 2020 included pre-tax net losses of $23.3, $19.9, $8.6, and $15.2, respectively, on sales of businesses. The three months ended March 31, June 30, September 30 and December 31, 2019 included pre-tax net losses of $8.6, $3.2, $7.7, and $23.9, respectively, on sales of businesses. 3The three months ended June 30 and September 30, 2020 included tax expense of $10.4 and $3.2, respectively, related to a change in our indefinite reinvestment assertion for certain foreign subsidiaries (APB 23). The three months ended September 30, 2020 also included a net tax benefit of $136.2 related to the settlement of the U.S. Federal income tax audit of the years 2006 through 2016. The three months ended June 30 and December 31, 2019 included a tax benefit of $13.9 related to the settlement of certain tax positions and $25.3 related to valuation allowance reversals, respectively.

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- Definition The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 270 -URI http://asc.fasb.org/topic&trid=2126967 + Details
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