Results by Quarter (Unaudited) (Notes)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

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

1The 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.

2The 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.