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v3.23.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2023
Segment Reporting [Abstract] |
Summarized financial information concerning reportable segments | Summarized financial information concerning our reportable segments is shown in the following table.
| Three months ended June 30, |  | Six months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Total revenue: |  |  |  |  |  |  |
MD&E | $ | 1,070.2 |  |  | $ | 1,089.0 |  |  | $ | 2,052.0 |  |  | $ | 2,085.8 |
IA&C | 1,010.6 |  |  | 1,055.8 |  |  | 1,974.7 |  |  | 2,068.4 |
SC&E | 585.7 |  |  | 590.9 |  |  | 1,160.8 |  |  | 1,150.0 |
Total | $ | 2,666.5 |  |  | $ | 2,735.7 |  |  | $ | 5,187.5 |  |  | $ | 5,304.2 |
Revenue before billable expenses: |  |  |  |  |  |  |
MD&E | $ | 1,055.5 |  |  | $ | 1,065.3 |  |  | $ | 2,016.3 |  |  | $ | 2,039.0 |
IA&C | 913.7 |  |  | 961.8 |  |  | 1,789.3 |  |  | 1,878.7 |
SC&E | 359.3 |  |  | 348.4 |  |  | 699.8 |  |  | 685.0 |
Total | $ | 2,328.5 |  |  | $ | 2,375.5 |  |  | $ | 4,505.4 |  |  | $ | 4,602.7 |
Restructuring 1: |  |  |  |  |  |  |
MD&E | $ | (1.2) |  |  | $ | — |  |  | $ | (1.2) |  |  | $ | (0.1) |
IA&C | — |  |  | (0.1) |  |  | 0.3 |  |  | 6.1 |
SC&E | (0.4) |  |  | — |  |  | 0.9 |  |  | 0.4 |
Corporate and Other | (0.1) |  |  | — |  |  | (0.1) |  |  | 0.1 |
Total | $ | (1.7) |  |  | $ | (0.1) |  |  | $ | (0.1) |  |  | $ | 6.5 |
Segment EBITA 2: |  |  |  |  |  |  |
MD&E | $ | 143.3 |  |  | $ | 168.9 |  |  | $ | 222.4 |  |  | $ | 280.7 |
IA&C | 132.3 |  |  | 162.9 |  |  | 231.1 |  |  | 282.9 |
SC&E | 71.3 |  |  | 59.4 |  |  | 116.5 |  |  | 115.5 |
Corporate and Other | (15.0) |  |  | (21.0) |  |  | (28.9) |  |  | (41.9) |
Total | $ | 331.9 |  |  | $ | 370.2 |  |  | $ | 541.1 |  |  | $ | 637.2 |
Amortization of acquired intangibles: |  |  |  |  |  |  |
MD&E | $ | 19.4 |  |  | $ | 17.8 |  |  | $ | 38.8 |  |  | $ | 35.7 |
IA&C | 1.2 |  |  | 2.3 |  |  | 2.1 |  |  | 4.7 |
SC&E | 0.6 |  |  | 1.0 |  |  | 1.2 |  |  | 2.0 |
Corporate and Other | 0.0 |  |  | 0.0 |  |  | 0.0 |  |  | 0.0 |
Total | $ | 21.2 |  |  | $ | 21.1 |  |  | $ | 42.1 |  |  | $ | 42.4 |
Depreciation and amortization 3: |  |  |  |  |  |  |
MD&E | $ | 26.9 |  |  | $ | 25.8 |  |  | $ | 53.2 |  |  | $ | 52.2 |
IA&C | 13.3 |  |  | 14.4 |  |  | 27.4 |  |  | 28.9 |
SC&E | 3.9 |  |  | 4.2 |  |  | 8.1 |  |  | 8.3 |
Corporate and Other | 1.2 |  |  | 1.6 |  |  | 2.2 |  |  | 3.1 |
Total | $ | 45.3 |  |  | $ | 46.0 |  |  | $ | 90.9 |  |  | $ | 92.5 |
Capital expenditures: |  |  |  |  |  |  |
MD&E | $ | 30.8 |  |  | $ | 21.6 |  |  | $ | 53.2 |  |  | $ | 37.6 |
IA&C | 7.1 |  |  | 10.9 |  |  | 8.9 |  |  | 16.9 |
SC&E | 1.5 |  |  | 2.5 |  |  | 2.0 |  |  | 3.3 |
Corporate and Other | 7.0 |  |  | 6.6 |  |  | 15.2 |  |  | 14.5 |
Total | $ | 46.4 |  |  | $ | 41.6 |  |  | $ | 79.3 |  |  | $ | 72.3 |
1 Non-cash lease impairment costs were comprised of ($1.2) at MD&E, ($0.2) at IA&C and ($1.0) at SC&E for the three months ended June 30, 2023. Non-cash lease impairment costs were comprised of ($1.3) at MD&E, ($0.2) at IA&C and $0.3 at SC&E for the six months ended June 30, 2023. Non-cash lease impairment costs were comprised of ($0.1) at MD&E, $5.2 at IA&C, and $0.2 at SC&E for the six months ended June 30, 2022. 2 Adjusted EBITA is calculated as net income available to IPG common stockholders before provision for income taxes, total (expenses) and other income, equity in net income of unconsolidated affiliates, net income attributable to non-controlling interests and amortization of acquired intangibles. 3 Excludes amortization of acquired intangibles.
| June 30, 2023 |  | December 31, 2022
Total assets: |  |  |
MD&E | $ | 9,388.1 |  |  | $ | 9,984.3 |
IA&C | 4,982.7 |  |  | 5,083.5 |
SC&E | 1,656.9 |  |  | 1,629.9 |
Corporate and Other | 1,082.3 |  |  | 2,147.3 |
Total | $ | 17,110.0 |  |  | $ | 18,845.0 |
The following table presents the reconciliation of segment EBITA to Income before income taxes.
| Three months ended June 30, |  | Six months ended June 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
MD&E EBITA | $ | 143.3 |  |  | $ | 168.9 |  |  | $ | 222.4 |  |  | $ | 280.7 |
IA&C EBITA | 132.3 |  |  | 162.9 |  |  | 231.1 |  |  | 282.9 |
SC&E EBITA | 71.3 |  |  | 59.4 |  |  | 116.5 |  |  | 115.5 |
Corporate and Other EBITA | (15.0) |  |  | (21.0) |  |  | (28.9) |  |  | (41.9) |
Less: consolidated amortization of acquired intangibles | 21.2 |  |  | 21.1 |  |  | 42.1 |  |  | 42.4 |
Operating income | 310.7 |  |  | 349.1 |  |  | 499.0 |  |  | 594.8 |
Total (expenses) and other income | (32.1) |  |  | (34.3) |  |  | (54.4) |  |  | (70.1) |
Income before income taxes | $ | 278.6 |  |  | $ | 314.8 |  |  | $ | 444.6 |  |  | $ | 524.7 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599 + Details
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