The income tax provision in the second quarter of 2017 was $75.4 million on income before income taxes of $170.1 million, compared to a provision of $43.7 million on income before income taxes of $205.8 million in the same period in 2016.
The income tax provision in the first half of 2017 was $73.3 million on income before taxes of $184.9 million, compared to a provision of $28.1 million on income before income taxes of $192.8 million in the same period in 2016.
At June 30, 2017, cash, cash equivalents and marketable securities totaled $660.8 million, compared to $1.10 billion at December 31, 2016 and $675.4 million at June 30, 2016. Total debt was $1.82 billion at June 30, 2017, compared to $1.69 billion at December 31, 2016.
Share Repurchase Program and Common Stock Dividend
During the second quarter of 2017, the company repurchased 2.5 million shares of its common stock at an aggregate cost of $60.0 million and an average price of $24.39 per share, including fees. During the first half of 2017, the company repurchased 4.8 million shares of its common stock at an aggregate cost of $115.0 million and an average price of $24.13 per share, including fees.
During the second quarter of 2017, the company declared and paid a common stock cash dividend of $0.18 per share, for a total of $70.5 million.
For further information regarding the company's financial results as well as certain non-GAAP measures and the reconciliation thereof, please refer to pages 18 and 19 of the earnings materials filed on Form 8-K here with and available on our website, www.interpublic.com.
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Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Craft, FCB (Foote, Cone & Belding), FutureBrand, Golin, Huge, Initiative, Jack Morton Worldwide, MAGNA, McCann, Momentum, MRM//McCann, MullenLowe Group, Octagon, R/GA, UM and Weber Shandwick. Other leading brands include Avrett Free Ginsberg, Campbell Ewald, Carmichael Lynch, Deutsch, Hill Holliday, ID Media and The Martin Agency. For more information, please visit www.interpublic.com.
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Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax