Document and Entity Information	9 Months Ended
Document and Entity Information	Sep. 30, 2010	Oct. 15, 2010
Document and Entity Information
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2010
Document Fiscal Year Focus	2010
Document Fiscal Period Focus	Q3
Entity Registrant Name	INTERPUBLIC GROUP OF COMPANIES, INC.
Entity Central Index Key	0000051644
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		488,735,381

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009	Sep. 30, 2010	Sep. 30, 2009
CONSOLIDATED STATEMENTS OF OPERATIONS
REVENUE	$ 1,560.8	$ 1,426.7	$ 4,519.9	$ 4,226.4
OPERATING EXPENSES:
Salaries and related expenses	1,007.1	943.5	2,977.4	2,908.4
Office and general expenses	452.1	425.4	1,322.2	1,245.4
Restructuring and other reorganization-related charges (reversals), net	1.4	(0.5)	2.3	(0.7)
Total operating expenses	1,460.6	1,368.4	4,301.9	4,153.1
OPERATING INCOME	100.2	58.3	218.0	73.3
EXPENSES AND OTHER INCOME:
Interest expense	(34.7)	(37.8)	(102.3)	(117.7)
Interest income	6.8	7.6	19.4	28.0
Other (expense) income, net	(3.1)	1.0	(4.7)	(17.4)
Total (expenses) and other income	(31.0)	(29.2)	(87.6)	(107.1)
Income (loss) before income taxes	69.2	29.1	130.4	(33.8)
Provision for (benefit of) income taxes	24.4	3.7	72.4	(18.0)
Income (loss) of consolidated companies	44.8	25.4	58.0	(15.8)
Equity in net income (loss) of unconsolidated affiliates	0.8	0.5	0.4	(0.5)
NET INCOME (LOSS)	45.6	25.9	58.4	(16.3)
Net (income) loss attributable to noncontrolling interests	(0.3)	(1.8)	4.8	1.2
NET INCOME (LOSS) ATTRIBUTABLE TO IPG	45.3	24.1	63.2	(15.1)
Dividends on preferred stock	(2.9)	(6.9)	(12.7)	(20.7)
Benefit from preferred stock repurchased	0	0	25.7	0
NET INCOME (LOSS) AVAILABLE TO IPG COMMON STOCKHOLDERS	$ 42.4	$ 17.2	$ 76.2	$ (35.8)
Earnings (loss) per share available to IPG common stockholders:
Basic	$ 0.09	$ 0.04	$ 0.16	$ (0.08)
Diluted	$ 0.08	$ 0.03	$ 0.11	$ (0.08)
Weighted-average number of common shares outstanding:
Basic	474.7	470.5	473.0	467.3
Diluted	533.6	513.8	526.4	467.3

CONSOLIDATED BALANCE SHEETS (USD $) In Millions, unless otherwise specified	Sep. 30, 2010	Dec. 31, 2009
ASSETS:
Cash and cash equivalents	$ 1,927.7	$ 2,495.2
Marketable securities	11.3	10.9
Accounts receivable, net of allowance of $66.6 and $66.0	3,805.4	3,756.5
Expenditures billable to clients	1,329.4	1,100.1
Other current assets	242.0	275.0
Total current assets	7,315.8	7,637.7
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $1,167.5 and $1,119.1	441.1	490.1
Deferred income taxes	396.5	398.3
Goodwill	3,350.4	3,321.0
Other non-current assets	446.8	416.0
TOTAL ASSETS	11,950.6	12,263.1
LIABILITIES:
Accounts payable	3,967.8	4,003.9
Accrued liabilities	2,549.9	2,593.1
Short-term borrowings	124.3	93.4
Current portion of long-term debt	231.0	215.2
Total current liabilities	6,873.0	6,905.6
Long-term debt	1,588.9	1,638.0
Deferred compensation	498.4	503.2
Other non-current liabilities	389.3	402.2
TOTAL LIABILITIES	9,349.6	9,449.0
Redeemable noncontrolling interests (see Note 6)	269.5	277.8
STOCKHOLDERS' EQUITY:
Preferred stock	221.5	525.0
Common stock	47.4	47.1
Additional paid-in capital	2,464.7	2,441.0
Accumulated deficit	(261.6)	(324.8)
Accumulated other comprehensive loss, net of tax	(161.8)	(176.6)
Stockholders' equity before treasury stock	2,310.2	2,511.7
Less: Treasury stock	(14.1)	(14.0)
Total IPG stockholders' equity	2,296.1	2,497.7
Noncontrolling interests	35.4	38.6
TOTAL STOCKHOLDERS' EQUITY	2,331.5	2,536.3
TOTAL LIABILITIES AND EQUITY	$ 11,950.6	$ 12,263.1

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) In Millions, unless otherwise specified	Sep. 30, 2010	Dec. 31, 2009
CONSOLIDATED BALANCE SHEETS
Accounts receivable, allowance	$ 66.6	$ 66.0
Furniture, equipment and leasehold improvements, accumulated depreciation	$ 1,167.5	$ 1,119.1

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2010	Sep. 30, 2009
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 58.4	$ (16.3)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization of fixed assets and intangible assets	111.5	126.5
Provision for uncollectible receivables	8.6	13.6
Amortization of restricted stock and other non-cash compensation	38.5	37.7
Net amortization of bond (premiums) discounts and deferred financing costs	(3.0)	13.0
Loss on early extinguishment of debt	0.1	25.8
Deferred income tax benefit	(7.5)	(9.4)
Other	26.0	9.8
Changes in assets and liabilities, net of acquisitions and dispositions, providing (using) cash:
Accounts receivable	(82.7)	812.9
Expenditures billable to clients	(225.8)	(18.8)
Other current assets	(14.9)	14.2
Accounts payable	0.7	(863.4)
Accrued liabilities	(53.6)	(272.1)
Other non-current assets and liabilities	(18.1)	(72.0)
Net cash used in operating activities	(161.8)	(198.5)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sales of businesses and investments, net of cash sold	31.0	5.0
Acquisitions, including deferred payments, net of cash acquired	(63.0)	(71.2)
Capital expenditures	(49.7)	(43.7)
Net (purchases) sales and maturities of short-term marketable securities	(0.2)	157.9
Other investing activities	(1.7)	(0.7)
Net cash (used in) provided by investing activities	(83.6)	47.3
CASH FLOWS FROM FINANCING ACTIVITIES:
Repurchase of preferred stock	(265.9)	0
Proceeds from issuance of 10.00% Senior Notes due 2017	0	587.7
Purchase of long-term debt	(21.4)	(770.7)
Issuance costs and fees	(9.8)	(19.2)
Net increase (decrease) in short term bank borrowings	25.9	(12.1)
Distributions to noncontrolling interests	(18.2)	(21.1)
Preferred stock dividends	(16.7)	(20.7)
Other financing activities	(21.6)	(6.5)
Net cash used in financing activities	(327.7)	(262.6)
Effect of foreign exchange rate changes on cash and cash equivalents	5.6	68.1
Net decrease in cash and cash equivalents	(567.5)	(345.7)
Cash and cash equivalents at beginning of period	2,495.2	2,107.2
Cash and cash equivalents at end of period	$ 1,927.7	$ 1,761.5

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME (LOSS) (USD $) In Millions	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss, Net of Tax	Treasury Stock	Total IPG Stockholders' Equity	Noncontrolling Interests
Balance, value at Dec. 31, 2008	$ 2,244.2	$ 525.0	$ 46.4	$ 2,413.5	$ (446.1)	$ (318.5)	$ (14.0)	$ 2,206.3	$ 37.9
Balance, shares at Dec. 31, 2008			477.1
Net income (loss)	(16.3)				(15.1)			(15.1)	(1.2)
Foreign currency translation adjustments, net of tax	111.7					109.0		109.0	2.7
Changes in market value of securities available-for-sale, net of tax	0.6					0.6		0.6
Recognition of previously unrealized (loss) gain on securities available-for-sale, net of tax	0					0		0
Unrecognized losses, transition obligation and prior service cost, net of tax	9.5					9.5		9.5
Total comprehensive income (loss)	105.5							104.0	1.5
Reclassifications related to redeemable noncontrolling interests	12.1								12.1
Noncontrolling interest transactions	(5.1)			(5.4)				(5.4)	0.3
Distributions to noncontrolling interests	(21.1)								(21.1)
Change in redemption value of redeemable noncontrolling interests	12.8			12.8				12.8
Preferred stock dividends	(20.7)			(20.7)				(20.7)
Stock-based compensation	38.4			38.4				38.4
Restricted stock, net of forfeitures, shares			9.0
Restricted stock, net of forfeitures, value	(16.8)		0.6	(17.4)				(16.8)
Other, shares			0.4
Other, value	4.1		0	3.3				3.3	0.8
Balance, value at Sep. 30, 2009	2,353.4	525.0	47.0	2,424.5	(461.2)	(199.4)	(14.0)	2,321.9	31.5
Balance, shares at Sep. 30, 2009			486.5
Balance, value at Dec. 31, 2009	2,536.3	525.0	47.1	2,441.0	(324.8)	(176.6)	(14.0)	2,497.7	38.6
Balance, shares at Dec. 31, 2009			486.5
Net income (loss)	58.4				63.2			63.2	(4.8)
Foreign currency translation adjustments, net of tax	9.2					8.3		8.3	0.9
Changes in market value of securities available-for-sale, net of tax	0.2					0.2		0.2
Recognition of previously unrealized (loss) gain on securities available-for-sale, net of tax	(0.2)					(0.2)		(0.2)
Unrecognized losses, transition obligation and prior service cost, net of tax	6.5					6.5		6.5
Total comprehensive income (loss)	74.1							78.0	(3.9)
Reclassifications related to redeemable noncontrolling interests	18.6								18.6
Noncontrolling interest transactions	(24.9)			(26.0)				(26.0)	1.1
Distributions to noncontrolling interests	(18.2)								(18.2)
Change in redemption value of redeemable noncontrolling interests	(5.6)			(5.6)				(5.6)
Repurchase of preferred stock	(267.6)	(303.5)		35.9				(267.6)
Preferred stock dividends	(12.7)			(12.7)				(12.7)
Stock-based compensation	41.2			41.2				41.2
Restricted stock, net of forfeitures, shares			2.3
Restricted stock, net of forfeitures, value	(11.1)		0.3	(11.4)				(11.1)
Other, shares			0.3
Other, value	1.4		0	2.3			(0.1)	2.2	(0.8)
Balance, value at Sep. 30, 2010	$ 2,331.5	$ 221.5	$ 47.4	$ 2,464.7	$ (261.6)	$ (161.8)	$ (14.1)	$ 2,296.1	$ 35.4
Balance, shares at Sep. 30, 2010			489.1

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2010
Notes to Financial Statements
Basis of Presentation	Note 1: Basis of Presentation The unaudited Consolidated Financial Statements have been prepared by The Interpublic Group of Companies, Inc. and subsidiaries ("IPG," "we," "us" or "our") in accordance with accounting principles generally accepted in the United States and pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC") for reporting interim financial information on Form 10-Q. Accordingly, they do not include certain information and disclosures required for complete financial statements. The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires us to make judgments, assumptions and estimates that affect the amounts reported and disclosed. Actual results could differ from these estimates and assumptions. The consolidated results for interim periods are not necessarily indicative of results for the full year and should be read in conjunction with our 2009 Annual Report on Form 10-K. In the opinion of management, these unaudited Consolidated Financial Statements include all adjustments of a normal and recurring nature necessary for a fair presentation of the information for each period contained therein. Certain reclassifications have been made to prior periods to conform to the current period presentation.

- Definition

Description containing the entire organization, consolidation and basis of presentation of financial statements disclosure. May be provided in more than one note to the financial statements, as long as users are provided with an understanding of (1) the significant judgments and assumptions made by an enterprise in determining whether it must consolidate a VIE and/or disclose information about its involvement with a VIE, (2) the nature of restrictions on a consolidated VIE's assets reported by an enterprise in its statement of financial position, including the carrying amounts of such assets, (3) the nature of, and changes in, the risks associated with an enterprise's involvement with the VIE, and (4) how an enterprise's involvement with the VIE affects the enterprise's financial position, financial performance, and cash flows. Describes procedure if disclosures are provided in more than one note to the financial statements.

+ References+ Details

Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Earnings (Loss) Per Share

Note 2: Earnings (Loss) Per Share

Earnings (loss) per basic common share available to IPG common stockholders equals net income (loss) available to IPG common stockholders divided by the weighted-average number of common shares outstanding for the applicable period. Diluted earnings (loss) per share available to IPG common stockholders equals net income (loss) available to IPG common stockholders adjusted to exclude, if dilutive, preferred stock dividends, allocation to participating securities, interest expense related to potentially dilutive securities calculated using the effective interest rate and benefit from preferred stock repurchased, divided by the weighted-average number of common shares outstanding, plus any additional common shares that would have been outstanding if potentially dilutive shares had been issued.

We may be required to calculate earnings (loss) per basic share using the two-class method, pursuant to authoritative guidance for earnings per share, as a result of our redeemable noncontrolling interests. Each reporting period, redeemable noncontrolling interests are reported at their estimated redemption value, but not less than their initial fair value. Any adjustment to the redemption value will also impact additional paid-in capital, but will not impact net income (loss). Adjustments as a result of currency translation will affect the redeemable noncontrolling interest balance, but do not impact additional paid-in capital. To the extent that the redemption value increases and exceeds the then-current fair value of a redeemable noncontrolling interest, net income (loss) available to IPG common stockholders (used to calculate earnings (loss) per share) could be negatively impacted by that increase, subject to certain limitations. The partial or full recovery of these reductions to net income (loss) available to IPG common stockholders (used to calculate earnings (loss) per share) is limited to cumulative prior-period reductions. For the three and nine months ended September 30, 2010 and 2009, there was no impact to earnings (loss) per share for adjustments related to our redeemable noncontrolling interests.

The following sets forth basic and diluted earnings (loss) per common share available to IPG common stockholders.


	Three months ended September 30,				Nine months ended September 30,
	2010		2009		2010			2009
Net income (loss) available to IPG common stockholders – basic	$	42.4	$	17.2	$	76.2		$	(35.8	)
Adjustments: Effect of dilutive securities
Interest on 4.25% Notes		0.3		0.3		1.0			0.0
Interest on 4.75% Notes		1.0		0.0		0.0			0.0
Benefit from preferred stock repurchased ¹		0.0		0.0		(21.7	)		0.0

Net income (loss) available to IPG common stockholders – diluted	$	43.7	$	17.5	$	55.5		$	(35.8	)


Weighted-average number of common shares outstanding – basic		474.7		470.5		473.0			467.3
Add: Effect of dilutive securities
Restricted stock, stock options and other equity awards		10.6		11.1		9.3			0.0
4.25% Notes		32.2		32.2		32.2			0.0
4.75% Notes		16.1		0.0		0.0			0.0
Preferred stock repurchased		0.0		0.0		11.9			0.0

Weighted-average number of common shares outstanding – diluted		533.6		513.8		526.4			467.3


Earnings (loss) per share available to IPG common stockholders – basic	$	0.09	$	0.04	$	0.16		$	(0.08	)
Earnings (loss) per share available to IPG common stockholders – diluted	$	0.08	$	0.03	$	0.11		$	(0.08	)

For the nine months ended September 30, 2010, the benefit from the preferred stock repurchased is excluded from net income available to IPG common stockholders for purposes of calculating diluted earnings per share since the associated common shares, if converted, were dilutive. In addition, the benefit is also net of $4.0 of preferred dividends that were declared during the first quarter of 2010 and associated with the preferred stock repurchased. See Note 4 for further information.

Basic and diluted shares outstanding and loss per share are equal for the nine months ended September 30, 2009 because our potentially dilutive securities are antidilutive as a result of the net loss available to IPG common stockholders.

The following table presents the potential shares excluded from diluted earnings (loss) per share calculation because the effect of including these potential shares would be antidilutive.


	Three months ended September 30,				Nine months ended September 30,
	2010		2009		2010		2009
Restricted stock, stock options and other equity awards		0.0		0.0		0.0		7.7
4.75% Notes		0.0		16.1		16.1		16.1
4.25% Notes		0.0		0.0		0.0		32.2
4.50% Notes		0.0		0.7		0.0		0.7
Preferred stock outstanding		16.2		38.4		16.2		38.4

Total		16.2		55.2		32.3		95.1


Securities excluded from the diluted earnings (loss) per share calculation because the exercise price was greater than the average market price:
Stock options ¹		16.6		21.6		19.5		21.6
Warrants ²		0.0		0.0		0.0		67.9

1	These options are outstanding at the end of the respective periods. In any period in which the exercise price is less than the average market price, these options have the potential to be dilutive, and application of the treasury stock method would reduce this amount.

2	The potential dilutive impact of the warrants was based upon the difference between the market price of one share of our common stock and the stated exercise prices of the warrants, adjusted to reflect the period during which the warrants were outstanding. The warrants expired in June 2009.

Debt and Credit Arrangements

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Debt and Credit Arrangements

Note 3: Debt and Credit Arrangements

Long-Term Debt

A summary of the carrying amounts and fair values of our long-term debt is as follows.


	Effective Interest Rate			September 30, 2010				December 31, 2009
	Effective Interest Rate			Book Value		Fair Value ²		Book Value		Fair Value ²
Floating Rate Senior Unsecured Notes due 2010 (less unamortized discount of $0.4)		8.65	%	$	192.1	$	192.3	$	211.7	$	210.5
7.25% Senior Unsecured Notes due 2011		7.25	%¹		36.3		36.3		36.3		36.2
6.25% Senior Unsecured Notes due 2014 (less unamortized discount of $0.4)		6.29	%¹		353.5		374.5		351.5		332.5
10.00% Senior Unsecured Notes due 2017 (less unamortized discount of $10.9)		10.38	%		589.1		703.5		588.3		666.0
4.75% Convertible Senior Notes due 2023 (plus unamortized premium of $5.5)		3.50	%		205.5		226.1		207.2		213.3
4.25% Convertible Senior Notes due 2023 (plus unamortized premium of $21.1)		0.58	%		421.1		433.8		431.9		416.4
Other notes payable and capitalized leases					22.3				26.3

Total long-term debt					1,819.9				1,853.2

Less: current portion ³					231.0				215.2

Long-term debt, excluding current portion				$	1,588.9			$	1,638.0

1	Excludes the effect of related gains/losses on interest rate swaps.

2	Fair values are derived from trading quotes by institutions making a market in the securities and estimations of value by those institutions using proprietary models.

On August 15, 2011 our 7.25% Senior Unsecured Notes due 2011 (the "2011 Notes") mature. Therefore we included these Notes in current portion of long-term debt on our unaudited September 30, 2010 Consolidated Balance Sheet. On November 15, 2010 our Floating Rate Senior Unsecured Notes due 2010 (the "2010 Notes") mature. Therefore we included these Notes in current portion of long-term debt on our unaudited September 30, 2010 and December 31, 2009 Consolidated Balance Sheets.

In April 2010, we repurchased $21.4 aggregate principal amount of our 2010 Notes that were scheduled to mature on November 15, 2010 for $21.5 in cash, which includes accrued and unpaid interest.

Credit Facilities

In April 2010, we amended and restated our credit agreement originally dated as of July 18, 2008, (the "Credit Agreement"), which increased commitments of the lenders to $650.0 from $335.0, added five new lenders and extended the Credit Agreement's expiration. The Credit Agreement is a revolving facility expiring July 18, 2013, under which amounts borrowed by us or any of our subsidiaries designated under the Credit Agreement may be repaid and reborrowed, subject to an aggregate lending limit of $650.0 or the equivalent in other currencies. The aggregate available amount of letters of credit outstanding may decrease or increase, subject to a limit on letters of credit of $200.0 or the equivalent in other currencies. Our obligations under the Credit Agreement are unsecured.

We were in compliance with all applicable restrictive and financial covenants in the Credit Agreement as of September 30, 2010. The financial covenants in the Credit Agreement require that we maintain, as of the end of each fiscal quarter listed below, the following financial covenants, as defined, for the four quarters then ended.

Q3 2010

Q4 2010

Q1 2011

Q2 2011

Q3 2011

Q4 2011

Q1 2012

Q2 2012

Q3 2012
& Thereafter

(i) Interest coverage ratio (not less than): ¹

3.75x

4.00x

4.25x

4.50x

5.00x

5.50x

5.75x

(ii) Leverage ratio (not greater than): ²

3.75x

3.25x

3.00x

2.75x

2.50x

(iii) Minimum EBITDA (not less than):

550.0

600.0

1	An interest coverage ratio (EBITDA, as defined in the Credit Agreement, to net interest expense plus cash dividends on convertible preferred stock for the four quarters then ended).

2	A leverage ratio (debt as of the last day of such fiscal quarter to EBITDA, as defined in the Credit Agreement, for the four quarters then ended).

For purposes of the leverage ratio and interest coverage ratio calculated for any date in 2010, we may exclude from our total debt up to $300.0 of any new senior notes we issue in 2010 with a minimum maturity of five years, less the amount of proceeds of such new indebtedness that are applied to reduce the principal amount of certain of our debt that is currently outstanding. Under certain circumstances, up to $85.0 in principal amount of such new senior notes may be permanently excluded from total debt for purposes of such covenant calculations.

Interest Rate Swaps

In February 2010, we terminated all of the interest rate swaps related to our 6.25% Senior Unsecured Notes due 2014. We received a total of $5.4 in cash, which included accrued and unpaid interest. The related gain of $3.9 will be amortized as a reduction to interest expense over the remaining term of the notes, resulting in an annual effective interest rate of 6.0%.

Convertible Preferred Stock	9 Months Ended
Convertible Preferred Stock	Sep. 30, 2010
Notes to Financial Statements
Convertible Preferred Stock	Note 4: Convertible Preferred Stock In April 2010, we launched a tender offer to purchase for cash up to 370,000 shares (actual number) of our outstanding 525,000 shares (actual number) 5¹/4% Series B Cumulative Convertible Perpetual Preferred Stock ("Series B Preferred Stock"). In May 2010, we purchased 303,526 shares (actual number) of our Series B Preferred Stock that were validly tendered for cash for an aggregate purchase price of $267.6. The aggregate purchase price was calculated as the number of shares tendered multiplied by the purchase price of $869.86 per share plus unpaid dividends of $1.9, which were prorated for the period the tendered shares were outstanding and transaction costs directly associated with the repurchase. The carrying value of the tendered shares was $293.3 and was determined based on the number of shares tendered multiplied by the $1,000 per share liquidation preference less $10.2, which is the pro-rata amount of issuance costs associated with the original issuance of the preferred stock. The benefit of $25.7 represents the excess carrying value of the tendered shares over consideration from the repurchase, which was recorded as an adjustment to additional paid-in capital. Additionally, we recorded an adjustment to additional paid-in capital of $10.2 for the pro-rata amount of issuance costs. As of September 30, 2010, 221,474 shares (actual number) of our Series B Preferred Stock remain outstanding.

Supplementary Data

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Supplementary Data

Note 5: Supplementary Data

Accrued Liabilities


	September 30, 2010		December 31, 2009
Media and production expenses	$	1,986.6	$	1,936.1
Salaries, benefits and related expenses		356.1		405.7
Office and related expenses		56.0		59.5
Acquisition obligations		27.8		16.6
Interest		25.2		46.6
Professional fees		20.4		20.4
Other		77.8		108.2

Total accrued liabilities	$	2,549.9	$	2,593.1

2004 Restatement Liabilities

As part of the restatement we presented in our 2004 Annual Report on Form 10-K (the "2004 Restatement"), we recognized liabilities related to vendor discounts and credits where we had a contractual or legal obligation to rebate such amounts to our clients or vendors. Reductions to these liabilities are achieved through settlements with clients and vendors, but also may occur if the applicable statute of limitations in a jurisdiction has lapsed. As of September 30, 2010 and December 31, 2009, we had vendor discounts and credit liabilities of $96.4 and $106.4, respectively, related to the 2004 Restatement.

Other (Expense) Income, net

Results of operations for the three and nine months ended September 30, 2010 and 2009 include certain items which are not directly associated with our revenue-producing operations.


	Three months ended September 30,						Nine months ended September 30,
	2010			2009			2010			2009
Net loss on early extinguishment of debt	$	0.0		$	(1.2	)	$	(0.1	)	$	(25.8	)
Gains (losses) on sales of businesses and investments		0.3			0.7			(2.8	)		(2.1	)
Vendor discounts and credit adjustments		0.3			1.5			2.4			7.7
Other (expense) income, net		(3.7	)		0.0			(4.2	)		2.8

Total other (expense) income, net	$	(3.1	)	$	1.0		$	(4.7	)	$	(17.4	)

Net Loss on Early Extinguishment of Debt – During the first nine months of 2009, we recorded a net charge of $25.8 primarily related to the settlement of our tender offers for the 5.40% Senior Unsecured Notes due 2009, the 2011 Notes and the 2010 Notes.

Vendor Discounts and Credit Adjustments – We are in the process of settling our liabilities related to vendor discounts and credits established as part of the 2004 Restatement. These adjustments reflect the reversal of certain of these liabilities as a result of settlements with clients or vendors or where the statute of limitations has lapsed.

Acquisitions

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Acquisitions

Note 6: Acquisitions

We continue to evaluate strategic opportunities to grow and to increase our ownership interests in current investments, particularly in our digital and marketing services offerings, and to expand our presence in high-growth and key strategic world markets. Our acquisitions provide for an initial payment at the time of closing, and certain of these acquisitions include additional contingent purchase payments based on the future performance of the acquired entity. Due to the characteristics of advertising, specialized marketing and communication services companies, our acquisitions typically do not have significant amounts of tangible assets, as the principal asset we typically acquire is creative talent. As a result, a substantial portion of the purchase price of these acquisitions is allocated to identifiable intangible assets, primarily customer lists, trade names and goodwill.

In July 2010, we purchased Delaney Lund Knox Warren for a total payment of approximately $43.0 in cash. During the first nine months of 2010, we completed five additional acquisitions, including a new media and digital marketing service company in Brazil. During the first nine months of 2010, we recorded approximately $58.0 of goodwill and intangible assets related to our acquisitions. Of our six acquisitions, five are included in the Integrated Agency Networks ("IAN") operating segment and one is included in the Constituency Management Group ("CMG") operating segment. The results of operations of our acquired companies were included in our consolidated results from the closing date of each acquisition. Details of cash paid for current and prior years' acquisitions are listed below.


	Nine months ended September 30,
	2010			2009
Cash paid for current year acquisitions:
Cost of investment	$	47.1		$	3.8
Operating expense		3.3			0.0
Cash paid for prior-year acquisitions:
Cost of investment		40.0			73.3
Operating expense		3.0			0.0
Less: cash acquired		(3.1	)		(0.1	)

Total cash paid for acquisitions¹	$	90.3		$	77.0

Includes payments of $21.0 and $5.8 for the nine months ended September 30, 2010 and 2009, respectively, relating to transactions with consolidated subsidiaries where we have increased our ownership interests, which are classified within the financing section of the unaudited Consolidated Statements of Cash Flows, rather than the investing section.

Many of our acquisitions also include provisions under which the noncontrolling equity owners can require us to purchase additional interests in a subsidiary at their discretion. The following table presents changes in our redeemable noncontrolling interests.


	Nine months ended September 30,
	2010			2009
Balance at beginning of period	$	277.8		$	288.4
Noncontrolling interest balance related to redeemable noncontrolling interests		(18.6	)		(12.1	)
Changes in redemption value of redeemable noncontrolling interests:
Additions		31.7			0.5
Redemptions and reclassifications		(28.5	)		(5.3	)
Redemption value adjustments¹		7.1			(9.1	)

Balance at end of period	$	269.5		$	262.4

1	Redeemable noncontrolling interests are reported at their estimated redemption value in each reporting period, but not less than their initial fair value. Any adjustment to the redemption value impacts additional paid-in capital, except adjustments as a result of currency translation.

Income Taxes	9 Months Ended
Income Taxes	Sep. 30, 2010
Notes to Financial Statements
Income Taxes	Note 7: Income Taxes For the three months ended September 30, 2010, the effective tax rate is comparable to the statutory rate of 35% primarily due to losses in certain foreign locations for which we receive no benefit due to 100% valuation allowances and an increase in unrecognized tax benefits offset by the reversal of valuation allowances in Europe and tax benefits from the exercise of stock options. For the nine months ended September 30, 2010, the difference between the effective tax rate and the statutory rate of 35% was primarily due to factors similar to those noted above as well as the impact of state and local taxes. In September 2010, we effectively settled our New York State examination for the 1999-2001 tax years. The settlement resulted in a cash payment of $11.7 consisting of $5.4 of tax and $6.3 of interest, which was previously reserved. We have various tax years under examination by tax authorities in various countries, such as the United Kingdom, and in various states, such as New York, in which we have significant business operations. It is not yet known whether these examinations will, in the aggregate, result in our paying additional taxes. We believe our tax reserves are adequate in relation to the potential for additional assessments in each of the jurisdictions in which we are subject to taxation. We regularly assess the likelihood of additional tax assessments in those jurisdictions and, if necessary, adjust our reserves as additional information or events require. With respect to all tax years open to examination by U.S. federal and various state, local and non-U.S. tax authorities, we currently anticipate that total unrecognized tax benefits will decrease by an amount between $20.0 and $30.0 in the next twelve months, a portion of which will affect the effective tax rate, primarily as a result of the settlement of tax examinations and the lapsing of statutes of limitations. This net decrease is related to various items of income and expense, including transfer pricing adjustments and adjustments in various state and local jurisdictions. We are effectively settled with respect to U.S. federal income tax audits for years prior to 2007. With limited exceptions, we are no longer subject to state and local income tax audits for years prior to 1999, or non-U.S. income tax audits for years prior to 2000. On August 10, 2010, the Education Jobs and Medicaid Assistance Act was signed into law. The Act contains various provisions that could limit our ability to use foreign tax credits. There was no material impact on us in the third quarter of 2010. While we continue to assess the future impact of this Act on us, we do not expect a material impact to our effective or cash tax rates in the near future.

Comprehensive Income

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Comprehensive Income

Note 8: Comprehensive Income


	Three months ended September 30,
	2010			2009
Net income	$	45.6		$	25.9
Foreign currency translation adjustment, net of tax		77.1			62.6
Adjustments to pension and other postretirement plans, net of tax		3.0			3.3
Net unrealized holding losses on securities, net of tax		(0.1	)		(0.2	)

Total comprehensive income		125.6			91.6
Comprehensive income attributable to noncontrolling interests		1.3			3.0

Comprehensive income attributable to IPG	$	124.3		$	88.6

Comprehensive income (loss) for the nine months ended September 30, 2010 and 2009 is displayed in the unaudited Consolidated Statements of Stockholders' Equity and Comprehensive Income (Loss).

- Definition

This label may include the following: 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. Components of comprehensive income include: (1) foreign currency translation adjustments; (2) gains and losses on foreign currency transactions that are designated as, and are effective as, economic hedges of a net investment in a foreign entity; (3) gains and losses on intercompany foreign currency transactions that are of a long-term-investment nature, when the entities to the transaction are consolidated, combined, or accounted for by the equity method in the reporting enterprise's financial statements; (4) change in the market value of a futures contract that qualifies as a hedge of an asset reported at fair value; (5) unrealized holding gains and losses on available-for-sale securities and that resulting from transfers of debt securities from the held-to-maturity category to the available-for-sale category; (6) a net loss recognized as an additional pension liability not yet recognized as net periodic pension cost; and (7) the net gain or loss and net prior service cost or credit for pension plans and other postretirement benefit plans.

+ References+ Details

Incentive Compensation Plans

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Incentive Compensation Plans

Note 9: Incentive Compensation Plans

We issue stock-based compensation and cash awards to our employees under a plan established by the Compensation and Leadership Talent Committee of the Board of Directors (the "Compensation Committee") and approved by our shareholders.

Stock-Based Compensation

We issued the following stock-based awards under the 2009 Performance Incentive Plan (the "2009 PIP") during the nine months ended September 30, 2010.


	Awards		Weighted-average grant-date fair value (per award)
Stock options		0.5	$	3.88
Stock-settled awards		3.7	$	8.46
Cash-settled awards		0.6	$	8.47
Performance-based awards		0.1	$	11.01

Total stock-based compensation awards ¹		4.9

Additional performance cash awards of $19.0 were granted under the 2009 PIP in the first quarter of 2010 and will be settled in shares upon vesting, which is three years from the grant date. The number of shares to be settled on the vesting date will be calculated as the cash value adjusted for performance divided by our stock price on the vesting date.

Cash Awards

During the nine months ended September 30, 2010, the Compensation Committee granted cash awards under the Interpublic Restricted Cash Plan and performance cash awards under the 2009 PIP with a total target value of $30.9 and $18.5, respectively, which will be amortized over the vesting period, typically three years.

Employee Benefits

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Employee Benefits

Note 10: Employee Benefits

We have a defined benefit plan which covers substantially all regular U.S. employees employed through March 31, 1998. Some of our agencies have additional domestic plans, which are closed to new participants. We also have numerous plans outside of the U.S., some of which are funded, while others provide payments at the time of retirement or termination under applicable labor laws or agreements. Some of our domestic and foreign subsidiaries also provide postretirement health benefits to eligible employees and their dependents. Additionally, some of our domestic subsidiaries provide postretirement life insurance to eligible employees. Certain immaterial foreign pension plans have been excluded from the table below. The components of net periodic cost for the domestic pension plans, the principal foreign pension plans and the postretirement benefit plans are listed below.


	Domestic Pension Plans						Foreign Pension Plans						Postretirement Benefit Plans
Three months ended September 30,	2010			2009			2010			2009			2010		2009
Service cost	$	0.0		$	0.0		$	3.2		$	2.8		$	0.1	$	0.1
Interest cost		1.9			1.9			5.7			6.0			0.7		0.7
Expected return on plan assets		(1.8	)		(1.7	)		(4.3	)		(3.7	)		0.0		0.0
Amortization of:
Prior service cost (credit)		0.0			0.0			0.1			0.1			0.0		0.0
Unrecognized actuarial losses		2.1			2.1			0.5			0.6			0.0		0.0

Net periodic cost	$	2.2		$	2.3		$	5.2		$	5.8		$	0.8	$	0.8

	Domestic Pension Plans						Foreign Pension Plans						Postretirement Benefit Plans
Nine months ended September 30,	2010			2009			2010			2009			2010		2009
Service cost	$	0.0		$	0.0		$	8.8		$	8.1		$	0.2	$	0.3
Interest cost		5.5			6.0			17.3			17.0			2.1		2.3
Expected return on plan assets		(5.2	)		(5.5	)		(12.8	)		(10.2	)		0.0		0.0
Settlement losses		0.0			0.0			1.0			1.5			0.0		0.0
Amortization of:
Transition obligation		0.0			0.0			0.0			0.0			0.1		0.1
Prior service cost (credit)		0.0			0.0			0.2			0.2			0.0		(0.1	)
Unrecognized actuarial losses		6.5			7.3			1.4			1.8			0.0		0.0

Net periodic cost	$	6.8		$	7.8		$	15.9		$	18.4		$	2.4	$	2.6

During the nine months ended September 30, 2010, we contributed $20.5 to our foreign pension plans and $9.6 to our domestic pension plans. In the fourth quarter of 2010, we expect to contribute approximately $8.0 to our foreign pension plans, and we do not expect to make any contributions to our domestic pension plans. A significant portion of our contributions to the foreign pension plans relates to the Interpublic Pension Plan in the U.K.

Segment Information

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Segment Information

Note 11: Segment Information

We have two reportable segments: IAN, which is comprised of McCann Worldgroup, Draftfcb, Mediabrands, Lowe and our domestic integrated agencies, and CMG, which is comprised of a number of our specialist marketing service offerings. We also report results for the "Corporate and other" group. The profitability measure employed by our chief operating decision maker for allocating resources to operating divisions and assessing operating division performance is operating income, excluding the impact of restructuring and other reorganization-related charges (reversals), net and long-lived asset impairment and other charges, if applicable. Segment information is presented consistently with the basis described in our 2009 Annual Report on Form 10-K. Summarized financial information concerning our reportable segments is shown in the following table.


	Three months ended September 30,						Nine months ended September 30,
	2010			2009			2010			2009
Revenue:
IAN	$	1,299.3		$	1,191.9		$	3,794.6		$	3,555.0
CMG		261.5			234.8			725.3			671.4

Total	$	1,560.8		$	1,426.7		$	4,519.9		$	4,226.4


Segment operating income:
IAN	$	113.6		$	78.7		$	270.1		$	135.7
CMG		21.7			18.2			51.4			43.5
Corporate and other		(33.7	)		(39.1	)		(101.2	)		(106.6	)

Total		101.6			57.8			220.3			72.6

Restructuring and other reorganization-related (charges) reversals, net		(1.4	)		0.5			(2.3	)		0.7
Interest expense		(34.7	)		(37.8	)		(102.3	)		(117.7	)
Interest income		6.8			7.6			19.4			28.0
Other (expense) income, net		(3.1	)		1.0			(4.7	)		(17.4	)

Income (loss) before income taxes	$	69.2		$	29.1		$	130.4		$	(33.8	)


Depreciation and amortization of fixed assets and intangible assets:
IAN	$	29.5		$	32.7		$	87.3		$	98.8
CMG		3.6			3.6			10.2			10.8
Corporate and other		4.2			5.7			14.0			16.9

Total	$	37.3		$	42.0		$	111.5		$	126.5


Capital expenditures:
IAN	$	18.0		$	9.5		$	42.3		$	30.4
CMG		1.8			1.6			3.7			3.8
Corporate and other		1.6			4.9			3.7			9.5

Total	$	21.4		$	16.0		$	49.7		$	43.7


	September 30, 2010			December 31, 2009
Total assets:
IAN	$	9,931.0		$	9,763.9
CMG		890.5			897.8
Corporate and other		1,129.1			1,601.4

Total	$	11,950.6		$	12,263.1

Fair Value Measurements

9 Months Ended

Sep. 30, 2010

Notes to Financial Statements

Fair Value Measurements

Note 12: Fair Value Measurements

Authoritative guidance for fair value measurements establishes a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. We primarily apply the market approach for recurring fair value measurements. There are three levels of inputs that may be used to measure fair value:


Level 1		Unadjusted quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2		Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3		Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

There were no changes to our valuation techniques used to measure the fair value of assets and liabilities on a recurring basis during the nine months ended September 30, 2010. The following tables present information about our assets and liabilities measured at fair value on a recurring basis as of September 30, 2010 and September 30, 2009, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.


	September 30, 2010												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total			Balance Sheet Classification
Assets
Cash equivalents	$	1,205.7		$	0.0		$	0.0		$	1,205.7		Cash and cash equivalents
Short-term marketable securities		11.3			0.0			0.0			11.3		Marketable securities
Long-term investments		1.3			13.7			0.0			15.0		Other assets
Foreign currency derivatives ¹		0.0			0.0			0.2			0.2		Other assets

Total	$	1,218.3		$	13.7		$	0.2		$	1,232.2


As a percentage of total assets		10.2	%		0.1	%		0.0	%		10.3	%

Liabilities
Mandatorily redeemable noncontrolling interests ²	$	0.0		$	0.0		$	48.1		$	48.1


	September 30, 2009												Balance Sheet Classification
	Level 1			Level 2			Level 3			Total			Balance Sheet Classification
Assets
Cash equivalents	$	1,106.0		$	0.0		$	0.0		$	1,106.0		Cash and cash equivalents
Short-term marketable securities		10.6			0.0			0.0			10.6		Marketable securities
Long-term investments ³		15.7			0.0			6.7			22.4		Other assets
Foreign currency derivatives ¹		0.0			0.0			0.7			0.7		Other assets

Total	$	1,132.3		$	0.0		$	7.4		$	1,139.7


As a percentage of total assets		10.3	%		0.0	%		0.1	%		10.4	%

Liabilities
Mandatorily redeemable noncontrolling interests ²	$	0.0		$	0.0		$	42.3		$	42.3

1	Fair value is derived from changes in market value of obligations denominated in foreign currency based on an internal valuation model.

Relates to unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligation was based upon the amount payable as if the forward contracts were settled. The amount redeemable within the next twelve months is classified in accrued liabilities; any interests redeemable thereafter are classified in other non-current liabilities.

3	Fair value related to our Level 3 investments was based on an internal valuation model. During the fourth quarter of 2009, we sold our entire position in asset-backed auction-rate securities.

The following tables present additional information about assets and liabilities measured at fair value on a recurring basis and for which we utilize Level 3 inputs to determine fair value.


	Three months ended September 30, 2010						Three months ended September 30, 2009
	Assets			Liabilities			Assets					Liabilities
	Foreign currency derivatives			Mandatorily redeemable noncontrolling interests			Auction-rate securities		Foreign currency derivatives			Mandatorily redeemable noncontrolling interests
Balance at beginning of period	$	0.3		$	61.8		$	6.7	$	0.8		$	37.2
Level 3 (reductions) additions		0.0			(14.0	)		0.0		0.0			2.4
Realized losses included in net income		(0.1	)		(0.3	)		0.0		(0.1	)		(2.7	)

Balance at end of period	$	0.2		$	48.1		$	6.7	$	0.7		$	42.3


	Nine months ended September 30, 2010						Nine months ended September 30, 2009
	Assets			Liabilities			Assets					Liabilities
	Foreign currency derivatives			Mandatorily redeemable noncontrolling interests			Auction-rate securities		Foreign currency derivatives			Mandatorily redeemable noncontrolling interests
Balance at beginning of period	$	0.6		$	47.8		$	6.7	$	0.8		$	21.6
Level 3 (reductions) additions		0.0			(0.8	)		0.0		0.0			22.5
Realized (losses) gains included in net income (loss)		(0.4	)		(1.1	)		0.0		(0.1	)		1.8

Balance at end of period	$	0.2		$	48.1		$	6.7	$	0.7		$	42.3

Level 3 reductions relate to payments made related to unconditional obligations to purchase additional equity interests in previous acquisitions for cash. Level 3 additions relate to unconditional obligations to purchase additional equity interests in previous acquisitions for cash in future periods. Realized (losses) gains included in net income (loss) for foreign currency derivatives and mandatorily redeemable noncontrolling interests are reported as a component of other (expense) income, net and interest expense, respectively, in the unaudited Consolidated Statements of Operations.

- Definition

This element represents the disclosure related to the fair value measurement of assets and liabilities which includes [financial] instruments measured at fair value that are classified in stockholders' equity. Such assets and liabilities may be measured on a recurring or nonrecurring basis. The disclosures which may be required or desired include: (1) for assets and liabilities measured on a recurring basis, disclosure may include: (a) the fair value measurements at the reporting date; (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3); (c) for fair value measurements using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (i) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (ii) purchases, sales, issuances, and settlements (net); (iii) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs); (d) the amount of the total gains or losses for the period in subparagraph (c) (i) above included in earnings (or changes in net assets) that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date and a description of where those unrealized gains or losses are reported in the statement of income (or activities); (e) the valuation technique(s) used to measure fair value and a discussion of changes in valuation techniques, if any, during the period and (2) for assets and liabilities that are measured at fair value on a nonrecurring basis (for example, impaired assets) disclosure may include, in addition to (a) above: (a) the reasons for the fair value measurements recorded; (b) the same as (b) above; (c) for fair value measurements using significant unobservable inputs (Level 3), a description of the inputs and the information used to develop the inputs; and (d) the valuation technique(s) used to measure fair value and a discussion of changes, if any, in the valuation technique(s) used to measure similar assets and/or liabilities in prior periods.

+ References+ Details

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Sep. 30, 2010
Notes to Financial Statements
Commitments and Contingencies	Note 13: Commitments and Contingencies *Legal Matters* We are involved in legal and administrative proceedings of various types. While any litigation contains an element of uncertainty, we do not believe that the outcome of such proceedings will have a material adverse effect on our financial condition, results of operations or cash flows. *Guarantees* As discussed in our 2009 Annual Report on Form 10-K, we have guarantees of certain obligations of our subsidiaries relating principally to credit facilities, certain media payables and operating leases of certain subsidiaries. The amount of such parent company guarantees was $798.5 and $769.3 as of September 30, 2010 and December 31, 2009, respectively.

Recent Accounting Standards	9 Months Ended
Recent Accounting Standards	Sep. 30, 2010
Notes to Financial Statements
Recent Accounting Standards	Note 14: Recent Accounting Standards In March 2010, the Emerging Issues Task Force ("EITF") reached a consensus related to guidance when applying the milestone method of revenue recognition. The consensus was issued by the Financial Accounting Standards Board ("FASB") as an update to authoritative guidance for revenue recognition and will be effective for us beginning January 1, 2011. The amended guidance provides criteria for identifying those deliverables in an arrangement that meet the definition of a milestone. In addition, the amended guidance includes enhanced quantitative and qualitative disclosures about the arrangements when an entity recognizes revenue using the milestone method. We do not expect the adoption of this guidance to have a significant impact on our Consolidated Financial Statements. In February 2010, the FASB issued amended guidance for subsequent events, which was effective for us in February 2010. In accordance with the revised guidance, an SEC filer no longer is required to disclose the date through which subsequent events have been evaluated in issued and revised financial statements. The adoption of the revised guidance did not have a material impact on our unaudited Consolidated Financial Statements. In January 2010, the FASB issued amended guidance to enhance disclosure requirements related to fair value measurements. The amended guidance for Level 1 and Level 2 fair value measurements was effective for us January 1, 2010. The amended guidance for Level 3 fair value measurements will be effective for us January 1, 2011. The guidance requires disclosures of amounts and reasons for transfers in and out of Level 1 and Level 2 recurring fair value measurements as well as additional information related to activities in the reconciliation of Level 3 fair value measurements. The guidance expanded the disclosures related to the level of disaggregation of assets and liabilities and information about inputs and valuation techniques. The adoption of the guidance for Level 1 and Level 2 fair value measurements did not have a material impact on our unaudited Consolidated Financial Statements. We do not expect the adoption of the guidance related to Level 3 fair value measurements to have a significant impact on our Consolidated Financial Statements. In January 2010, the FASB issued amended authoritative guidance related to consolidations when there is a decrease in ownership. The guidance was effective for us January 1, 2010. Specifically, the amendment clarifies the scope of the existing guidance and increases the disclosure requirements when a subsidiary is deconsolidated or when a group of assets is de-recognized. The adoption of the amended guidance did not have a significant impact on our unaudited Consolidated Financial Statements. In December 2009, the FASB amended authoritative guidance related to accounting for transfers and servicing of financial assets and extinguishments of liabilities. The guidance was effective for us January 1, 2010. The guidance eliminates the concept of a qualifying special-purpose entity and changes the criteria for derecognizing financial assets. In addition, the guidance requires additional disclosures related to a company's continued involvement with financial assets that have been transferred. The adoption of this amended guidance did not have a significant impact on our unaudited Consolidated Financial Statements. In December 2009, the FASB amended authoritative guidance for consolidating variable interest entities. The guidance was effective for us January 1, 2010. Specifically, the guidance revises factors that should be considered by a reporting entity when determining whether an entity that is insufficiently capitalized or is not controlled through voting (or similar rights) should be consolidated. This guidance also includes revised financial statement disclosures regarding the reporting entity's involvement, including significant risk exposures as a result of that involvement, and the impact the relationship has on the reporting entity's financial statements. The adoption of this amended guidance did not have a significant impact on our unaudited Consolidated Financial Statements. In September 2009, the EITF reached a consensus related to revenue arrangements with multiple deliverables. The consensus was issued by the FASB as an update to authoritative guidance for revenue recognition and will be effective for us January 1, 2011. The updated guidance revises how the estimated selling price of each deliverable in a multiple element arrangement is determined when the deliverables do not have stand-alone value. In addition, the guidance requires additional disclosures about the methods and assumptions used to evaluate multiple element arrangements and to identify the significant deliverables within those arrangements. We do not expect the amended guidance to have a significant impact on our Consolidated Financial Statements.