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SEC Filings

10-Q
INTERPUBLIC GROUP OF COMPANIES, INC. filed this Form 10-Q on 10/26/2017
Entire Document
 

PART I – FINANCIAL INFORMATION
Item 1.
Financial Statements (Unaudited)
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in Millions, Except Per Share Amounts)
(Unaudited)
 
Three months ended
September 30,
 
Nine months ended
September 30,
 
2017
 
2016
 
2017
 
2016
REVENUE
$
1,902.6

 
$
1,922.2

 
$
5,541.4

 
$
5,582.1

 
 
 
 
 
 
 
 
OPERATING EXPENSES:
 
 
 
 
 
 
 
Salaries and related expenses
1,227.6

 
1,228.0

 
3,742.3

 
3,726.3

Office and general expenses
455.9

 
486.2

 
1,343.8

 
1,400.5

Total operating expenses
1,683.5

 
1,714.2

 
5,086.1

 
5,126.8

 
 
 
 
 
 
 
 
OPERATING INCOME
219.1

 
208.0

 
455.3

 
455.3

 
 
 
 
 
 
 
 
EXPENSES AND OTHER INCOME:
 
 
 
 
 
 
 
Interest expense
(21.0
)
 
(21.7
)
 
(67.6
)
 
(68.8
)
Interest income
4.1

 
4.7

 
14.0

 
16.1

Other (expense) income, net
(9.9
)
 
5.3

 
(24.5
)
 
(13.5
)
Total (expenses) and other income
(26.8
)
 
(11.7
)
 
(78.1
)
 
(66.2
)
 
 
 
 
 
 
 
 
Income before income taxes
192.3

 
196.3

 
377.2

 
389.1

Provision for income taxes
42.5

 
63.8

 
115.8

 
91.9

Income of consolidated companies
149.8

 
132.5

 
261.4

 
297.2

Equity in net (loss) income of unconsolidated affiliates
(1.0
)
 
0.2

 
0.1

 
(1.6
)
NET INCOME
148.8

 
132.7

 
261.5

 
295.6

Net (income) loss attributable to noncontrolling interests
(2.6
)
 
(4.1
)
 
0.9

 
(4.7
)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS
$
146.2

 
$
128.6

 
$
262.4

 
$
290.9

 
 
 
 
 
 
 
 
Earnings per share available to IPG common stockholders:
 
 
 
 
 
 
 
Basic
$
0.38

 
$
0.32

 
$
0.67

 
$
0.73

Diluted
$
0.37

 
$
0.32

 
$
0.66

 
$
0.71

 
 
 
 
 
 
 
 
Weighted-average number of common shares outstanding:
 
 
 
 
 
 
 
Basic
389.5

 
397.7

 
391.2

 
399.5

Diluted
397.2

 
407.9

 
398.6

 
408.8

 
 
 
 
 
 
 
 
Dividends declared per common share
$
0.18

 
$
0.15

 
$
0.54

 
$
0.45

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

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