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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)

The following tables present information about our financial instruments measured at fair value on a recurring basis as of December 31, 2014 and 2013, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
 
December 31, 2014
 
Balance Sheet Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
901.4

 
$
0.0

 
$
0.0

 
$
901.4

 
Cash and cash equivalents
Short-term marketable securities
6.6

 
0.0

 
0.0

 
6.6

 
Marketable securities
Long-term investments
0.5

 
0.0

 
0.0

 
0.5

 
Other assets
Total
$
908.5

 
$
0.0

 
$
0.0

 
$
908.5

 
 
 
 
 
 
 
 
 
 
 
 
As a percentage of total assets
7.1
%
 
0.0
%
 
0.0
%
 
7.1
%
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Mandatorily redeemable noncontrolling interests 1
$
0.0

 
$
0.0

 
$
32.8

 
$
32.8

 
 
 
 
 
 
 
 
 
 
 
 
 
December 31, 2013
 
Balance Sheet Classification
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Assets
 
 
 
 
 
 
 
 
 
Cash equivalents
$
761.2

 
$
0.0

 
$
0.0

 
$
761.2

 
Cash and cash equivalents
Short-term marketable securities
5.3

 
0.0

 
0.0

 
5.3

 
Marketable securities
Long-term investments
1.6

 
0.0

 
0.0

 
1.6

 
Other assets
Total
$
768.1

 
$
0.0

 
$
0.0

 
$
768.1

 
 
 
 
 
 
 
 
 
 
 
 
As a percentage of total assets
6.0
%
 
0.0
%
 
0.0
%
 
6.0
%
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
Mandatorily redeemable noncontrolling interests 1
$
0.0

 
$
0.0

 
$
27.0

 
$
27.0

 
 
 
1
Relates to unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligation was based upon the amount payable as if the forward contracts were settled. The amount redeemable within the next twelve months is classified in accrued liabilities; any interests redeemable thereafter are classified in other non-current liabilities.

The following table presents additional information about financial instruments measured at fair value on a recurring basis and for which we utilize Level 3 inputs to determine fair value.
 
 
Years ended December 31,
Liabilities
 
2014
 
2013
Mandatorily redeemable noncontrolling interests -
    Balance at beginning of period
 
$
27.0

 
$
25.3

Level 3 additions
 
5.6

 
0.2

Level 3 reductions
 
(0.8
)
 
0.0

Realized losses included in net income
 
1.0

 
1.5

Foreign currency translation
 
0.0

 
0.0

Mandatorily redeemable noncontrolling interests -
    Balance at end of period
 
$
32.8

 
$
27.0

Level 3 reductions primarily consist of cash payments made related to unconditional obligations to purchase additional equity interests in previous acquisitions, which are classified within the financing section of our Consolidated Statements of Cash Flows. Level 3 additions relate to new unconditional obligations to purchase additional equity interests in previous acquisitions for cash in future periods. Realized losses included in net income for mandatorily redeemable noncontrolling interests are reported as a component of interest expense in our Consolidated Statements of Operations.

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