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SEC Filings

8-K
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 8-K on 10/24/2017
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(Amounts in Millions, except per share amounts) Page 23 Nine Months Ended September 30, 2016 As Reported Net Losses on Sales of Businesses Valuation Allowance Reversals Settlement of Certain Tax Positions Adjusted Results Income Before Income Taxes $ 389.1 $ (16.1 ) $ 405.2 Provision for Income Taxes 91.9 0.4 $ 12.2 $ 23.4 127.9 Effective Tax Rate 23.6 % 31.6 % Equity in Net Loss of Unconsolidated Affiliates (1.6 ) (1.6 ) Net Income Attributable to Noncontrolling Interests (4.7 ) (4.7 ) Net Income Available to IPG Common Stockholders $ 290.9 $ (15.7 ) $ 12.2 $ 23.4 $ 271.0 Weighted-Average Number of Common Shares Outstanding - Basic 399.5 399.5 Dilutive Effect of Stock Options and Restricted Shares 9.3 9.3 Weighted-Average Number of Common Shares Outstanding - Diluted 408.8 408.8 Earnings per Share Available to IPG Common Stockholders: Basic $ 0.73 $ (0.04 ) $ 0.03 $ 0.06 $ 0.68 Diluted $ 0.71 $ (0.04 ) $ 0.03 $ 0.06 $ 0.66 Reconciliation of Adjusted Results (1) (1) The following table reconciles our reported results to our adjusted non-GAAP results that exclude the net losses on sales of businesses in our international markets, primarily in Continental Europe, valuation allowance reversals as a result of the disposition of those businesses in Continental Europe and the release of reserves related to the conclusion and settlement of a tax examination of previous tax years. The net losses on sales of businesses amount includes losses on completed dispositions and the classification of certain assets as held for sale during the nine months ended September 2016. The effect of the adoption of the Financial Accounting Standards Board Accounting Standards Update 2016-09, which was previously included in this table in 2016, has now been removed as the effect of the adoption is included in both periods presented within this presentation. Management believes the resulting comparisons provide useful supplemental data that, while not a substitute for GAAP measures, allow for greater transparency in the review of our financial and operational performance.