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Interim Reporting

3 Months Ended

Mar. 31, 2024

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information

17. Revision of previously issued Unaudited Consolidated Financial Statements for the first quarter of 2023

The following table presents selected unaudited revised financial information for the three months ended March 31, 2023, in connection with the revision detailed in Note 1 included herein. There were no changes to previously issued cash flows generated from (used by) operating, investing, or financing activities for any of the impacted periods. The quarterly interim consolidated balance sheet was only impacted by the effects of the balance sheet adjustments discussed in Note 1 of the Notes included herein. For the three months ended March 31, 2023, we have included the line items that were impacted by the correction of errors originally adjusted as out-of-period in the 2023 interim financial statements.

The impact of the revision on the previously issued unaudited quarterly financial information is as follows:

Unaudited Consolidated Statements of Operations and
Unaudited Consolidated Statements of Comprehensive Income (Loss)
			Three Months Ended March 31, 2023
			As reported						Adjustment						As revised
Income tax expense			$	2,384					$	(2,148)					$	236
Loss before equity in earnings of non-consolidated affiliates			(4,790)						2,148						(2,642)
Net loss			(5,017)						2,148						(2,869)
Net loss attributable to noncontrolling and redeemable noncontrolling interests			5,460						(1,202)						4,258
Net income attributable to Stagwell Inc. common shareholders			443						946						1,389
Earnings (Loss) Per Common Share
Basic			0.00						0.01						0.01
Diluted			(0.01)						0.01						0.00
Other comprehensive income - foreign currency translation adjustment			4,425						22						4,447
Other comprehensive income			4,425						22						4,447
Comprehensive income (loss) for the period			(592)						2,170						1,578
Comprehensive loss attributable to the noncontrolling and redeemable noncontrolling interests			26,723						(24,687)						2,036
Comprehensive income attributable to Stagwell Inc. common shareholders			26,131						(22,517)						3,614

Unaudited Consolidated Statements of Shareholders' Equity
			Three Months Ended March 31, 2023
			As reported						Adjustment						As revised
Net income attributable to Stagwell Inc. common shareholders			$	443					$	946					$	1,389
Net income (loss) attributable to Noncontrolling Interests			(2,917)						1,202						(1,715)
Other comprehensive income			25,688						(23,463)						2,225
Other comprehensive income (loss) attributable to Noncontrolling Interests			(21,263)						23,485						2,222
Total other comprehensive income			$	4,425					$	22					$	4,447

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- References

No definition available.

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X

- Definition

The entire disclosure for quarterly financial data. Includes, but is not limited to, tabular presentation of financial information for fiscal quarters, effect of year-end adjustments, and an explanation of matters or transactions that affect comparability of the information.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-URI https://asc.fasb.org/topic&trid=2126967

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 50
-Paragraph 1B
-URI https://asc.fasb.org/extlink&oid=126900988&loc=SL124452896-108306

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