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SEC Filings

10-K
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 10-K on 02/22/2016
Entire Document
 

Item 6.
Selected Financial Data
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
Selected Financial Data
(Amounts in Millions, Except Per Share Amounts and Ratios)
(Unaudited)
Years ended December 31,
2015
 
2014
 
2013
 
2012
 
2011
Statement of Operations Data
 
 
 
 
 
 
 
 
 
Revenue
$
7,613.8

 
$
7,537.1

 
$
7,122.3

 
$
6,956.2

 
$
7,014.6

Salaries and related expenses
4,857.7

 
4,820.4

 
4,545.5

 
4,391.9

 
4,402.1

Office and general expenses
1,885.0

 
1,928.1

 
1,917.9

 
1,887.2

 
1,924.3

Restructuring and other reorganization-related (reversals) charges, net
(0.8
)
 
0.2

 
60.6

 
(1.2
)
 
1.0

Operating income
871.9

 
788.4

 
598.3

 
678.3

 
687.2

Provision for income taxes 1
282.8

 
216.5

 
181.2

 
213.3

 
190.2

Net income 2
480.5

 
505.4

 
288.9

 
464.6

 
551.5

Net income available to IPG common stockholders 2
454.6

 
477.1

 
259.2

 
435.1

 
520.7

 
 
 
 
 
 
 
 
 
 
Earnings per share available to IPG common stockholders:
 
 
 
 
 
 
 
 
 
Basic 3
$
1.11

 
$
1.14

 
$
0.62

 
$
1.01

 
$
1.12

Diluted 3
$
1.09

 
$
1.12

 
$
0.61

 
$
0.94

 
$
0.99

 
 
 
 
 
 
 
 
 
 
Weighted-average number of common shares outstanding:
 
 
 
 
 
 
 
 
 
Basic
408.1

 
419.2

 
421.1

 
432.5

 
465.5

Diluted
415.7

 
425.4

 
429.6

 
481.4

 
540.6

 
 
 
 
 
 
 
 
 
 
Dividends declared per common share
$
0.48

 
$
0.38

 
$
0.30

 
$
0.24

 
$
0.24

 
 
 
 
 
 
 
 
 
 
Other Financial Data
 
 
 
 
 
 
 
 
 
Net cash provided by operating activities
$
674.0

 
$
669.5

 
$
592.9

 
$
357.2

 
$
273.5

Ratios of earnings to fixed charges
4.1

 
3.8

 
2.6

 
3.2

 
3.4

 
 
 
 
 
 
 
 
 
 
As of December 31,
2015
 
2014
 
2013
 
2012
 
2011
Balance Sheet Data
 
 
 
 
 
 
 
 
 
Cash and cash equivalents and marketable securities
$
1,509.7

 
$
1,667.2

 
$
1,642.1

 
$
2,590.8

 
$
2,315.6

Total assets
12,585.1

 
12,736.6

 
12,896.9

 
13,475.7

 
12,895.2

Total debt
1,762.3

 
1,722.2

 
1,654.4

 
2,431.4

 
1,755.7

Total liabilities
10,331.4

 
10,328.0

 
10,397.0

 
10,791.9

 
10,154.5

Preferred stock – Series B
0.0

 
0.0

 
0.0

 
221.5

 
221.5

Total stockholders’ equity
2,001.8

 
2,151.2

 
2,250.8

 
2,456.6

 
2,497.3

 
1
The year ended December 31, 2014 included the net reversal of valuation allowances on deferred tax assets in Continental Europe of $67.6.
2
The year ended December 31, 2015 included losses of $47.1, net of tax, on sales of businesses. The years ended December 31, 2014 and 2013 included losses of $6.6 and $28.3, net of tax, related to our early extinguishment of debt, respectively. The year ended December 31, 2013 included a loss of $50.9, net of tax, from the effects of restructuring and related costs. The years ended December 31, 2012 and 2011 included a gain of $57.2 and $126.2, net of tax, respectively, related to the sales of our holdings in Facebook.
3
Both basic and diluted earnings per share for the year ended December 31, 2015 included a negative impact of $0.12 per share from losses on sales of businesses. Both basic and diluted earnings per share for the year ended December 31, 2014 included a positive impact of $0.16 per share from the net reversal of valuation allowances on deferred tax assets in Continental Europe. Basic and diluted earnings per share for the year ended December 31, 2014 also included a negative impact of $0.01 and $0.02 per share, respectively, from a loss on early extinguishment of debt, net of tax. Basic and diluted earnings per share for the year ended December 31, 2013 included a negative impact of $0.12 and $0.11 per share, respectively, from the effects of restructuring and related costs, net of tax. Both basic and diluted earnings per share for the year ended December 31, 2013 also included a negative impact of $0.06 per share from a loss on early extinguishment of debt, net of tax. Basic earnings per share for the years ended December 31, 2012 and 2011 included a positive impact of $0.14 and $0.27 per share, respectively, and diluted earnings per share included a positive impact of $0.12 and $0.23 per share, respectively, from the gains recorded for the sale of our holdings in Facebook, net of tax.

14