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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)

2013 and 2012. During 2014 and 2013, we recorded approximately $48.6 and $21.5 of intangible assets related to our acquisitions in the respective year.
The following table provides a summary of other intangible assets, which are included in other assets on our Consolidated Balance Sheets. 
 
 
December 31,
 
 
2014
 
2013
 
 
Gross Amount
 
Accumulated
Amortization
 
Net Amount
 
Gross Amount
 
Accumulated
Amortization
 
Net Amount
Customer lists
 
$
255.8

 
$
(139.3
)
 
$
116.5

 
$
228.1

 
$
(119.8
)
 
$
108.3

Trade names
 
71.0

 
(22.8
)
 
48.2

 
64.5

 
(19.2
)
 
45.3

Other
 
14.1

 
(3.8
)
 
10.3

 
14.0

 
(3.8
)
 
10.2

Total
 
$
340.9

 
$
(165.9
)
 
$
175.0

 
$
306.6

 
$
(142.8
)
 
$
163.8


The estimated annual amortization expense for other intangible assets for the next five years as of December 31, 2014 is listed below.
 
 
2015
 
2016
 
2017
 
2018
 
2019
Estimated amortization expense
 
$
37.2

 
$
34.7

 
$
22.7

 
$
12.8

 
$
12.1


Note 7:  Income Taxes
The components of income before income taxes are listed below.
 
Years ended December 31,
 
2014
 
2013
 
2012
Domestic
$
387.7

 
$
255.3

 
$
386.9

Foreign
333.0

 
212.7

 
287.9

Total
$
720.7

 
$
468.0

 
$
674.8

The provision for income taxes is listed below.
 
Years ended December 31,
 
2014
 
2013
 
2012
U.S. federal income taxes (including foreign withholding taxes):
 
 
 
 
 
Current
$
8.0

 
$
46.9

 
$
9.4

Deferred
130.7

 
25.2

 
118.1

 
138.7

 
72.1

 
127.5

State and local income taxes:
 
 
 
 
 
Current
9.7

 
(14.7
)
 
17.1

Deferred
23.8

 
24.7

 
25.3

 
33.5

 
10.0

 
42.4

Foreign income taxes:
 
 
 
 
 
Current
115.3

 
79.6

 
83.2

Deferred
(71.0
)
 
19.5

 
(39.8
)
 
44.3

 
99.1

 
43.4

Total
$
216.5

 
$
181.2

 
$
213.3


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