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SEC Filings

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

THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in Millions)
(Unaudited)
 
Nine months ended
September 30,
  
2017
 
2016
CASH FLOWS FROM OPERATING ACTIVITIES:
 
 
 
Net income
$
261.5

 
$
295.6

Adjustments to reconcile net income to net cash used in operating activities:
 
 
 
Depreciation and amortization of fixed assets and intangible assets
124.5

 
117.5

Provision for uncollectible receivables
9.5

 
13.6

Amortization of restricted stock and other non-cash compensation
59.8

 
59.0

Net amortization of bond discounts and deferred financing costs
4.2

 
4.2

Deferred income tax (benefit) provision
(1.6
)
 
2.6

Net losses on sales of businesses
20.9

 
16.1

Other
16.1

 
29.8

Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash:
 
 
 
Accounts receivable
875.8

 
666.3

Expenditures billable to clients
(165.9
)
 
(241.2
)
Other current assets
(48.2
)
 
(20.6
)
Accounts payable
(986.4
)
 
(688.4
)
Accrued liabilities
(287.8
)
 
(207.9
)
Other non-current assets and liabilities
(21.4
)
 
(73.5
)
Net cash used in operating activities
(139.0
)
 
(26.9
)
CASH FLOWS FROM INVESTING ACTIVITIES:
 
 
 
Capital expenditures
(108.7
)
 
(114.5
)
Acquisitions, net of cash acquired
(22.6
)
 
(47.9
)
Other investing activities
(9.2
)
 
(5.1
)
Net cash used in investing activities
(140.5
)
 
(167.5
)
CASH FLOWS FROM FINANCING ACTIVITIES:
 
 
 
Repurchases of common stock
(216.0
)
 
(193.3
)
Common stock dividends
(211.2
)
 
(179.6
)
Acquisition-related payments
(49.1
)
 
(36.7
)
Tax payments for employee shares withheld
(38.4
)
 
(22.7
)
Repayments of long-term debt
(23.6
)
 
(1.1
)
Distributions to noncontrolling interests
(16.9
)
 
(10.8
)
Net increase (decrease) in short-term borrowings
429.9

 
(33.9
)
Exercise of stock options
12.1

 
10.2

Other financing activities
0.1

 
1.0

Net cash used in financing activities
(113.1
)
 
(466.9
)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash
0.4

 
50.7

Net decrease in cash, cash equivalents and restricted cash
(392.2
)
 
(610.6
)
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
$
708.0

 
$
895.5


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

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