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Accounting Changes and Error Corrections | 12 Months Ended
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Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract] |
Error Correction | 21. Revision of 2022 Issued Consolidated Financial Statements As described in Note 1, in connection with the preparation of the consolidated financial statements for the year ended December 31, 2023, the Company identified errors in the areas of income taxes, noncontrolling interests, and accumulated other comprehensive loss in its previously issued 2022 annual consolidated financial statements. The Company has revised its financial statements as of and for the year ended December 31, 2022, to reflect the corrections in this Form 10-K. There were no changes to previously issued cash flows generated from (used by) operating, investing, or financing activities for any of the impacted periods. Line items impacted in the Consolidated Statements of Shareholders Equity have been reflected below within the Statements of Comprehensive Income (Loss) and Consolidated Balance Sheet below. Presented below are the effects of the errors to the impacted financial statements as of and for the year ended December 31, 2022.
Consolidated Statements of Operations and |  |  |  |  |
Consolidated Statements of Comprehensive Income (Loss) |  |  |  |  |
| Year Ended December 31, 2022
| As reported |  | Adjustment |  | As revised
Other, net | $ | (7,059) |  |  | $ | 2,084 |  |  | $ | (4,975) |
Other income (expenses) | (85,727) |  |  | 2,084 |  |  | (83,643) |
Income before income taxes and equity in earnings of non-consolidated affiliates | 73,501 |  |  | 2,084 |  |  | 75,585 |
Income tax expense | 7,580 |  |  | 17,882 |  |  | 25,462 |
Income before equity in earnings of non-consolidated affiliates | 65,921 |  |  | (15,798) |  |  | 50,123 |
Net income | 65,842 |  |  | (15,798) |  |  | 50,044 |
Net (income) attributable to noncontrolling and redeemable noncontrolling interests | (38,573) |  |  | 8,448 |  |  | (30,125) |
Net income attributable to Stagwell Inc. common shareholders | $ | 27,269 |  |  | $ | (7,350) |  |  | $ | 19,919 |
Earnings Per Common Share: |  |  |  |  |
Basic | 0.22 |  |  | (0.06) |  |  | 0.16 |
Diluted | 0.17 |  |  | (0.05) |  |  | 0.12 |
| Year Ended December 31, 2022
| As reported |  | Adjustment |  | As revised
Other comprehensive (loss) - foreign currency translation adjustment | $ | (37,751) |  |  | $ | (22) |  |  | $ | (37,773) |
Other comprehensive (loss) | (33,663) |  |  | (22) |  |  | (33,685) |
Comprehensive income for the period | 32,179 |  |  | (15,820) |  |  | 16,359 |
Comprehensive (income) attributable to the noncontrolling and redeemable noncontrolling interest | (38,573) |  |  | 31,933 |  |  | (6,640) |
Comprehensive income (loss) attributable to Stagwell Inc. common shareholders | (6,394) |  |  | 16,113 |  |  | 9,719 |
Consolidated Balance Sheet |  |  |  |  |
| December 31, 2022
| As reported |  | Adjustment |  | As revised
Other current assets | 71,443 |  |  | 2,568 |  |  | 74,011 |
Total current assets | $ | 1,030,955 |  |  | $ | 2,568 |  |  | $ | 1,033,523 |
Other assets | 115,447 |  |  | 691 |  |  | 116,138 |
Total assets | $ | 3,993,332 |  |  | $ | 3,259 |  |  | $ | 3,996,591 |
Accruals and other liabilities | 248,477 |  |  | 20,394 |  |  | 268,871 |
Total current liabilities | 1,349,802 |  |  | 20,394 |  |  | 1,370,196 |
Deferred tax liabilities, net | 40,109 |  |  | 770 |  |  | 40,879 |
Other liabilities | 69,780 |  |  | (2,085) |  |  | 67,695 |
Total liabilities | $ | 3,009,587 |  |  | $ | 19,079 |  |  | $ | 3,028,666 |
Retained earnings | 29,445 |  |  | (7,350) |  |  | 22,095 |
Accumulated other comprehensive loss | (38,941) |  |  | 23,463 |  |  | (15,478) |
Stagwell Inc. Shareholders' Equity | 482,537 |  |  | 16,113 |  |  | 498,650 |
Noncontrolling interests | 462,097 |  |  | (31,933) |  |  | 430,164 |
Total Shareholders' Equity | 944,634 |  |  | (15,820) |  |  | 928,814 |
Total Liabilities, Redeemable Noncontrolling Interests and Shareholders' Equity | $ | 3,993,332 |  |  | $ | 3,259 |  |  | $ | 3,996,591 |

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- Definition The entire disclosure for reporting error correction. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 + Details
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