XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.24.3

Segment Information (Notes) | 9 Months Ended
--- | ---
Sep. 30, 2024
Segment Reporting [Abstract] |
Segment Reporting Disclosure | Segment Information As of September 30, 2024, we have three reportable segments: MD&E, IA&C, and SC&E. We also report results for the "Corporate and other" group. MD&E primarily provides, and is distinguished by innovative capabilities and scale in, global media and communications services, digital services and products, advertising and marketing technology, e‐commerce services, data management and analytics, strategic consulting, and digital brand experience. MD&E is comprised of IPG Mediabrands and Acxiom, as well as our digital specialist agencies, which include MRM, R/GA, and Huge. IA&C primarily provides advertising, corporate and brand identity services, and strategic consulting. IA&C is distinguished by the leading role of complex integrations of ideation and the execution of advertising and creative campaigns across all communications channels that are foundational to client brand identities. IA&C is comprised of leading global networks and agencies that provide a broad range of services, including McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies. SC&E primarily provides best-in-class global public relations and other specialized communications services, events, sports and entertainment marketing, and strategic consulting. SC&E is comprised of agencies that provide a range of marketing services expertise, including Weber Shandwick, Golin, our sports, entertainment, and experiential agencies, and IPG DXTRA Health. Certain prior period amounts, wherever applicable, have been recast to reflect the transfer of certain agencies between our reportable segments. We continue to evaluate our financial reporting structure, and the profitability measure employed by our chief operating decision maker for allocating resources to operating divisions and assessing operating division performance is segment EBITA. Summarized financial information concerning our reportable segments is shown in the following table.
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Total revenue: |  |  |  |  |  |  |
MD&E | $ | 1,043.8 |  |  | $ | 1,075.1 |  |  | $ | 3,092.5 |  |  | $ | 3,137.8 |
IA&C | 940.6 |  |  | 960.6 |  |  | 2,903.8 |  |  | 2,924.6 |
SC&E | 644.4 |  |  | 642.8 |  |  | 1,838.4 |  |  | 1,803.6 |
Total | $ | 2,628.8 |  |  | $ | 2,678.5 |  |  | $ | 7,834.7 |  |  | $ | 7,866.0 |
Revenue before billable expenses: |  |  |  |  |  |  |
MD&E | $ | 1,025.7 |  |  | $ | 1,060.0 |  |  | $ | 3,050.5 |  |  | $ | 3,086.8 |
IA&C | 848.9 |  |  | 877.7 |  |  | 2,640.4 |  |  | 2,656.5 |
SC&E | 368.1 |  |  | 371.3 |  |  | 1,061.8 |  |  | 1,071.1 |
Total | $ | 2,242.7 |  |  | $ | 2,309.0 |  |  | $ | 6,752.7 |  |  | $ | 6,814.4 |
Restructuring 1: |  |  |  |  |  |  |
MD&E | $ | 0.5 |  |  | $ | (0.1) |  |  | $ | 0.8 |  |  | $ | (1.3) |
IA&C | — |  |  | (0.5) |  |  | 0.3 |  |  | (0.2) |
SC&E | — |  |  | (0.2) |  |  | 0.3 |  |  | 0.7 |
Corporate and Other | — |  |  | 0.2 |  |  | — |  |  | 0.1 |
Total | $ | 0.5 |  |  | $ | (0.6) |  |  | $ | 1.4 |  |  | $ | (0.7) |
Segment EBITA 2: |  |  |  |  |  |  |
MD&E | $ | 194.9 |  |  | $ | 209.1 |  |  | $ | 469.5 |  |  | $ | 433.5 |
IA&C | 134.0 |  |  | 129.3 |  |  | 374.6 |  |  | 358.4 |
SC&E | 78.5 |  |  | 77.7 |  |  | 175.9 |  |  | 194.2 |
Corporate and Other | (22.1) |  |  | (18.3) |  |  | (91.2) |  |  | (47.2) |
Total | $ | 385.3 |  |  | $ | 397.8 |  |  | $ | 928.8 |  |  | $ | 938.9 |
Amortization of acquired intangibles: |  |  |  |  |  |  |
MD&E | $ | 19.2 |  |  | $ | 19.4 |  |  | $ | 57.6 |  |  | $ | 58.1 |
IA&C | 0.8 |  |  | 1.0 |  |  | 2.6 |  |  | 3.2 |
SC&E | 0.3 |  |  | 0.6 |  |  | 1.2 |  |  | 1.8 |
Corporate and Other | 0.0 |  |  | 0.0 |  |  | 0.0 |  |  | 0.0 |
Total | $ | 20.3 |  |  | $ | 21.0 |  |  | $ | 61.4 |  |  | $ | 63.1 |
Impairment of goodwill: |  |  |  |  |  |  |
MD&E | $ | 232.1 |  |  | $ | — |  |  | $ | 232.1 |  |  | $ | — |
Total | $ | 232.1 |  |  | $ | — |  |  | $ | 232.1 |  |  | $ | — |
Depreciation and amortization 3: |  |  |  |  |  |  |
MD&E | $ | 27.5 |  |  | $ | 26.5 |  |  | $ | 80.8 |  |  | $ | 79.8 |
IA&C | 12.8 |  |  | 13.3 |  |  | 38.0 |  |  | 40.6 |
SC&E | 3.4 |  |  | 4.0 |  |  | 10.5 |  |  | 12.1 |
Corporate and Other | 1.3 |  |  | 1.2 |  |  | 4.8 |  |  | 3.4 |
Total | $ | 45.0 |  |  | $ | 45.0 |  |  | $ | 134.1 |  |  | $ | 135.9 |
Capital expenditures: |  |  |  |  |  |  |
MD&E | $ | 18.2 |  |  | $ | 21.9 |  |  | $ | 57.2 |  |  | $ | 75.1 |
IA&C | 7.6 |  |  | 14.6 |  |  | 16.5 |  |  | 23.5 |
SC&E | 5.4 |  |  | 1.8 |  |  | 8.2 |  |  | 3.8 |
Corporate and Other | 6.1 |  |  | 9.5 |  |  | 25.3 |  |  | 24.7 |
Total | $ | 37.3 |  |  | $ | 47.8 |  |  | $ | 107.2 |  |  | $ | 127.1 |
1 Non-cash lease impairment costs were comprised of $0.4 at MD&E for the three months ended September 30, 2024. Non-cash lease impairment costs were comprised of $0.6 at MD&E, $0.3 at IA&C and $0.3 at SC&E for the nine months ended September 30, 2024. Non-cash lease impairment costs were comprised of ($0.1) at MD&E, ($0.6) at IA&C and ($0.2) at SC&E for the three months ended September 30, 2023. Non-cash lease impairment costs were comprised of ($1.3) at MD&E and ($0.8) at IA&C for the nine months ended September 30, 2023. 2 Segment EBITA is calculated as net income available to IPG common stockholders before provision for income taxes, total (expenses) and other income, equity in net loss of unconsolidated affiliates, net income attributable to non-controlling interests, amortization of acquired intangibles and impairment of goodwill. 3 Excludes amortization of acquired intangibles.
| September 30, 2024 |  | December 31, 2023
Total assets: |  |  |
MD&E | $ | 9,702.3 |  |  | $ | 10,737.5 |
IA&C | 4,668.3 |  |  | 4,790.4 |
SC&E | 1,777.4 |  |  | 1,800.6 |
Corporate and Other | 935.2 |  |  | 1,938.8 |
Total | $ | 17,083.2 |  |  | $ | 19,267.3 |
The following table presents the reconciliation of segment EBITA to Income before income taxes.
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
MD&E EBITA | $ | 194.9 |  |  | $ | 209.1 |  |  | $ | 469.5 |  |  | $ | 433.5 |
IA&C EBITA | 134.0 |  |  | 129.3 |  |  | 374.6 |  |  | 358.4 |
SC&E EBITA | 78.5 |  |  | 77.7 |  |  | 175.9 |  |  | 194.2 |
Corporate and Other EBITA | (22.1) |  |  | (18.3) |  |  | (91.2) |  |  | (47.2) |
Less: consolidated amortization of acquired intangibles | 20.3 |  |  | 21.0 |  |  | 61.4 |  |  | 63.1 |
Less: impairment of goodwill | 232.1 |  |  | — |  |  | 232.1 |  |  | — |
Operating income | 132.9 |  |  | 376.8 |  |  | 635.3 |  |  | 875.8 |
Total (expenses) and other income | (23.4) |  |  | (37.3) |  |  | (69.5) |  |  | (91.7) |
Income before income taxes | $ | 109.5 |  |  | $ | 339.5 |  |  | $ | 565.8 |  |  | $ | 784.1 |

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

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 48 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 270 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (ee) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 9: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 10: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 54 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54 Reference 11: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-34 Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26C -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26C Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26B -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26B Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-15 Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42 Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/280/tableOfContent Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-26 Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-21 Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration