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v3.25.2

Revenue | 6 Months Ended
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Jun. 30, 2025
Revenue from Contract with Customer [Abstract] |
Revenue | Revenue Disaggregation of Revenue We have three reportable segments as of June 30, 2025: MD&E, IA&C and SC&E, as further discussed in Note 12. MD&E principally generates revenue from providing 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. IA&C principally generates revenue from providing advertising, corporate and brand identity services, and strategic consulting. SC&E generates revenue from providing best-in-class global public relations and communications services, events, sports and entertainment marketing, and strategic consulting. Our agencies are located in over 100 countries, including every significant world market. Our geographic revenue breakdown is listed below.
| Three months ended June 30, |  | Six months ended June 30,
Total revenue: | 2025 |  | 2024 |  | 2025 |  | 2024
United States | $ | 1,645.1 |  |  | $ | 1,755.8 |  |  | $ | 3,219.0 |  |  | $ | 3,417.8 |
International: |  |  |  |  |  |  |
United Kingdom | 213.2 |  |  | 237.5 |  |  | 395.5 |  |  | 448.4 |
Continental Europe | 242.3 |  |  | 229.5 |  |  | 437.5 |  |  | 433.4 |
Asia Pacific | 173.0 |  |  | 202.6 |  |  | 320.1 |  |  | 375.7 |
Latin America | 93.5 |  |  | 110.2 |  |  | 172.6 |  |  | 202.8 |
Other | 169.7 |  |  | 174.4 |  |  | 314.7 |  |  | 327.8 |
Total International | 891.7 |  |  | 954.2 |  |  | 1,640.4 |  |  | 1,788.1 |
Total Consolidated | $ | 2,536.8 |  |  | $ | 2,710.0 |  |  | $ | 4,859.4 |  |  | $ | 5,205.9 |
| Three months ended June 30, |  | Six months ended June 30,
Revenue before billable expenses: | 2025 |  | 2024 |  | 2025 |  | 2024
United States | $ | 1,426.3 |  |  | $ | 1,525.5 |  |  | $ | 2,784.5 |  |  | $ | 3,001.8 |
International: |  |  |  |  |  |  |
United Kingdom | 178.0 |  |  | 193.7 |  |  | 337.4 |  |  | 371.7 |
Continental Europe | 202.5 |  |  | 199.2 |  |  | 371.8 |  |  | 378.7 |
Asia Pacific | 140.2 |  |  | 167.3 |  |  | 259.5 |  |  | 310.1 |
Latin America | 86.8 |  |  | 102.2 |  |  | 159.3 |  |  | 189.3 |
Other | 138.9 |  |  | 139.2 |  |  | 256.5 |  |  | 258.4 |
Total International | 746.4 |  |  | 801.6 |  |  | 1,384.5 |  |  | 1,508.2 |
Total Consolidated | $ | 2,172.7 |  |  | $ | 2,327.1 |  |  | $ | 4,169.0 |  |  | $ | 4,510.0 |
MD&E | Three months ended June 30, |  | Six months ended June 30,
Total revenue: | 2025 |  | 2024 |  | 2025 |  | 2024
United States | $ | 613.1 |  |  | $ | 680.5 |  |  | $ | 1,219.7 |  |  | $ | 1,318.2 |
International | 344.3 |  |  | 389.3 |  |  | 638.6 |  |  | 725.0 |
Total MD&E | $ | 957.4 |  |  | $ | 1,069.8 |  |  | $ | 1,858.3 |  |  | $ | 2,043.2 |
Revenue before billable expenses: |  |  |  |  |  |  |
United States | $ | 611.9 |  |  | $ | 677.8 |  |  | $ | 1,213.6 |  |  | $ | 1,311.3 |
International | 335.8 |  |  | 380.9 |  |  | 621.8 |  |  | 708.8 |
Total MD&E | $ | 947.7 |  |  | $ | 1,058.7 |  |  | $ | 1,835.4 |  |  | $ | 2,020.1 |
IA&C | Three months ended June 30, |  | Six months ended June 30,
Total revenue: | 2025 |  | 2024 |  | 2025 |  | 2024
United States | $ | 578.7 |  |  | $ | 627.0 |  |  | $ | 1,121.6 |  |  | $ | 1,251.6 |
International | 370.6 |  |  | 378.0 |  |  | 691.0 |  |  | 717.1 |
Total IA&C | $ | 949.3 |  |  | $ | 1,005.0 |  |  | $ | 1,812.6 |  |  | $ | 1,968.7 |
Revenue before billable expenses: |  |  |  |  |  |  |
United States | $ | 553.2 |  |  | $ | 599.3 |  |  | $ | 1,069.6 |  |  | $ | 1,200.0 |
International | 307.3 |  |  | 315.6 |  |  | 572.6 |  |  | 596.2 |
Total IA&C | $ | 860.5 |  |  | $ | 914.9 |  |  | $ | 1,642.2 |  |  | $ | 1,796.2 |
SC&E | Three months ended June 30, |  | Six months ended June 30,
Total revenue: | 2025 |  | 2024 |  | 2025 |  | 2024
United States | $ | 453.3 |  |  | $ | 448.3 |  |  | $ | 877.7 |  |  | $ | 848.0 |
International | 176.8 |  |  | 186.9 |  |  | 310.8 |  |  | 346.0 |
Total SC&E | $ | 630.1 |  |  | $ | 635.2 |  |  | $ | 1,188.5 |  |  | $ | 1,194.0 |
Revenue before billable expenses: |  |  |  |  |  |  |
United States | $ | 261.2 |  |  | $ | 248.4 |  |  | $ | 501.3 |  |  | $ | 490.5 |
International | 103.3 |  |  | 105.1 |  |  | 190.1 |  |  | 203.2 |
Total SC&E | $ | 364.5 |  |  | $ | 353.5 |  |  | $ | 691.4 |  |  | $ | 693.7 |
Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.
| June 30, 2025 |  | December 31, 2024
Accounts receivable, net of allowance of $37.4 and $37.0, respectively | $ | 4,850.7 |  |  | $ | 5,649.7 |
Accounts receivable, billable to clients | 2,103.0 |  |  | 2,088.4 |
Contract assets | 47.0 |  |  | 50.1 |
Contract liabilities (deferred revenue) | 654.9 |  |  | 509.0 |
Contract assets are primarily comprised of contract incentives that are generally satisfied annually under the terms of our contracts and are transferred to accounts receivable when the right to payment becomes unconditional. Contract liabilities relate to advance consideration received from customers under the terms of our contracts primarily related to reimbursements of third-party expenses, whether we act as principal or agent, and to a lesser extent, periodic retainer fees, both of which are generally recognized shortly after billing. The majority of our contracts are for periods of one year or less with the exception of our data management contracts. For those contracts with a term of more than one year, we had approximately $583.0 of unsatisfied performance obligations as of June 30, 2025, which will be recognized as services are performed over the remaining contractual terms through 2030.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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