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SEC Filings

10-Q
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 10-Q on 04/21/2017
Entire Document
 

THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in Millions)
(Unaudited)
 
Three months ended
March 31,
  
2017
 
2016
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
Net income
$
18.1

 
$
2.7

Adjustments to reconcile net income to net cash used in operating activities:
 
 
 
Depreciation and amortization of fixed assets and intangible assets
41.0

 
38.0

Provision for uncollectible receivables
5.9

 
3.2

Amortization of restricted stock and other non-cash compensation
29.7

 
23.1

Net amortization of bond discounts and deferred financing costs
1.4

 
1.4

Deferred income tax benefit
(13.8
)
 
(28.1
)
(Gains) losses on sales of businesses
(0.9
)
 
16.3

Other
6.7

 
25.5

Changes in assets and liabilities, net of acquisitions and dispositions, providing (using) cash:
 
 
 
Accounts receivable
806.6

 
686.5

Expenditures billable to clients
(206.3
)
 
(137.3
)
Other current assets
(71.6
)
 
(60.4
)
Accounts payable
(702.5
)
 
(984.7
)
Accrued liabilities
(264.9
)
 
(198.8
)
Other non-current assets and liabilities
(21.2
)
 
(41.0
)
Net cash used in operating activities
(371.8
)
 
(653.6
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
Capital expenditures
(24.8
)
 
(27.0
)
Acquisitions, net of cash acquired
(3.3
)
 
(27.0
)
Other investing activities
(5.1
)
 
(5.5
)
Net cash used in investing activities
(33.2
)
 
(59.5
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
Net increase (decrease) in short-term borrowings
224.8

 
(19.7
)
Exercise of stock options
8.2

 
3.9

Common stock dividends
(70.9
)
 
(59.9
)
Repurchase of common stock
(55.0
)
 
(53.7
)
Tax payments for employee shares withheld
(36.7
)
 
(20.8
)
Distributions to noncontrolling interests
(6.0
)
 
(4.0
)
Other financing activities
0.0

 
(0.1
)
Net cash provided by (used in) financing activities
64.4

 
(154.3
)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
20.0

 
36.7

Net decrease in cash, cash equivalents and restricted cash
(320.6
)
 
(830.7
)
Cash, cash equivalents and restricted cash at beginning of period
1,100.2

 
1,506.1

Cash, cash equivalents and restricted cash at end of period
$
779.6

 
$
675.4


The accompanying notes are an integral part of these unaudited financial statements.

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