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SEC Filings

10-K
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 10-K on 02/23/2015
Entire Document
 
Notes to Consolidated Financial Statements – (continued)
(Amounts in Millions, Except Per Share Amounts)

Details of cash paid for current and prior years' acquisitions are listed below.
 
Years ended December 31,
 
2014
 
2013
 
2012
Cost of investment: current-year acquisitions
$
97.3

 
$
67.7

 
$
156.8

Cost of investment: prior-year acquisitions
14.0

 
28.5

 
40.6

Less: net cash acquired
(29.9
)
 
(7.1
)
 
(14.8
)
Total cost of investment
81.4

 
89.1

 
182.6

Operating expense 1
3.4

 
2.0

 
3.2

 
 
 
 
 
 
Total cash paid for acquisitions 2
$
84.8

 
$
91.1

 
$
185.8

 
1
Represents cash payments made that were either in excess of the contractual value or contingent upon the future employment of the former owners of acquired companies.

2
Of the total cash paid, $13.6, $27.6 and $37.1 for the years ended December 31, 2014, 2013 and 2012, respectively, are classified under the financing section of the Consolidated Statements of Cash Flows within acquisition-related payments. These amounts relate to increases in our ownership interests in our consolidated subsidiaries as well as deferred payments for acquisitions. Of the total cash paid, $67.8, $61.5 and $145.5 for the years ended December 31, 2014, 2013 and 2012, respectively, are classified under the investing section of the Consolidated Statements of Cash Flows within acquisitions, net of cash acquired. These amounts relate to initial payments for new transactions.

Note 5:  Supplementary Data
Valuation and Qualifying Accounts – Allowance for Uncollectible Accounts Receivable
 
Years ended December 31,
 
2014
 
2013
 
2012
Balance at beginning of period
$
64.9

 
$
59.0

 
$
55.4

Charges to costs and expenses
7.4

 
12.6

 
16.3

Reversals to other accounts1
0.1

 
0.7

 
(0.2
)
Deductions:
 
 
 
 
 
Dispositions
0.0

 
0.0

 
(0.4
)
Uncollectible accounts written off
(8.1
)
 
(7.2
)
 
(12.6
)
Foreign currency translation adjustment
(4.8
)
 
(0.2
)
 
0.5

Balance at end of period
$
59.5

 
$
64.9

 
$
59.0

 
1
Amounts primarily relate to miscellaneous other amounts and reclassifications.

Property and Equipment
 
 
December 31,
 
 
2014
 
2013
Furniture and equipment
 
$
640.7

 
$
661.6

Leasehold improvements
 
594.0

 
611.4

Internal use computer software
 
296.2

 
269.1

Land and buildings
 
87.3

 
109.6

 
 
1,618.2

 
1,651.7

Less: accumulated depreciation
 
(1,070.0
)
 
(1,111.7
)
Total property and equipment, net
 
548.2

 
$
540.0

The total depreciation and amortization expense for the years ended December 31, 2014, 2013 and 2012 was $132.3, $130.6 and $124.3, respectively.


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