Document and Entity Information
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6 Months Ended | |
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Jun. 30, 2015
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Jul. 15, 2015
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Document and Entity Information [Abstract] | ||
Amendment Flag | false | |
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 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2015 | |
Document Fiscal Period Focus | Q2 | |
Entity Common Stock, Shares Outstanding | 410,401,096 |
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If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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End date of current fiscal year in the format --MM-DD. No definition available.
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This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Statements of Operations (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2015
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Jun. 30, 2014
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Jun. 30, 2015
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Jun. 30, 2014
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Revenue | ||||
Revenue | $ 1,876.1 | $ 1,851.4 | $ 3,552.1 | $ 3,488.9 |
Operating Expenses: | ||||
Salaries and related expenses | 1,205.2 | 1,170.2 | 2,420.4 | 2,358.8 |
Office and general expenses | 455.1 | 485.4 | 908.1 | 946.0 |
Total operating expenses | 1,660.3 | 1,655.6 | 3,328.5 | 3,304.8 |
OPERATING INCOME | 215.8 | 195.8 | 223.6 | 184.1 |
Expenses and Other Income: | ||||
Interest expense | (20.3) | (22.6) | (41.2) | (42.8) |
Interest income | 5.0 | 6.6 | 12.2 | 12.8 |
Other Nonoperating Income (Expense) | 0.5 | (11.2) | 0.8 | (9.5) |
Total (expenses) and other income | (14.8) | (27.2) | (28.2) | (39.5) |
Income before income taxes | 201.0 | 168.6 | 195.4 | 144.6 |
Provision for income taxes | 77.7 | 65.3 | 76.3 | 63.6 |
Income of consolidated companies | 123.3 | 103.3 | 119.1 | 81.0 |
Equity in net income of unconsolidated affiliates | 0.5 | 0.4 | 0.5 | 0.3 |
NET INCOME | 123.8 | 103.7 | 119.6 | 81.3 |
Net income attributable to noncontrolling interests | (2.6) | (4.3) | (0.2) | (2.8) |
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS | $ 121.2 | $ 99.4 | $ 119.4 | $ 78.5 |
Earnings Per Share, Basic | $ 0.30 | $ 0.24 | $ 0.29 | $ 0.19 |
Earnings Per Share, Diluted | $ 0.29 | $ 0.23 | $ 0.29 | $ 0.18 |
Weighted Average Number of Shares Outstanding, Basic | 410.5 | 421.1 | 410.8 | 421.9 |
Weighted Average Number of Shares Outstanding, Diluted | 417.6 | 428.1 | 417.6 | 428.5 |
Dividends declared per common share | $ 0.120 | $ 0.095 | $ 0.240 | $ 0.190 |
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Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
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Dec. 31, 2014
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ASSETS: | ||
Cash and cash equivalents | $ 848.9 | $ 1,660.6 |
Marketable securities | 6.7 | 6.6 |
Accounts receivable, net of allowance of $59.5 | 3,976.7 | 4,376.6 |
Expenditures billable to clients | 1,452.4 | 1,424.2 |
Other current assets | 352.7 | 342.2 |
Total current assets | 6,637.4 | 7,810.2 |
Property and equipment, net of accumulated depreciation of $1,069.4 and $1,070.0, respectively | 526.4 | 548.2 |
Deferred income taxes | 204.2 | 192.9 |
Goodwill | 3,626.3 | 3,669.2 |
Other non-current assets | 505.0 | 526.7 |
TOTAL ASSETS | 11,499.3 | 12,747.2 |
LIABILITIES: | ||
Accounts payable | 5,669.8 | 6,558.0 |
Accrued liabilities | 603.8 | 796.0 |
Short-term borrowings | 158.0 | 107.2 |
Current portion of long-term debt | 2.0 | 2.1 |
Total current liabilities | 6,433.6 | 7,463.3 |
Long-term debt | 1,622.8 | 1,623.5 |
Deferred compensation | 480.4 | 527.9 |
Other non-current liabilities | 719.3 | 723.9 |
TOTAL LIABILITIES | 9,256.1 | 10,338.6 |
Redeemable noncontrolling interests | 230.1 | 257.4 |
STOCKHOLDERS' EQUITY: | ||
Common stock | 41.5 | 41.2 |
Additional paid-in capital | 1,597.4 | 1,547.5 |
Retained earnings | 1,201.8 | 1,183.3 |
Accumulated other comprehensive loss, net of tax | (735.8) | (636.7) |
Stockholders Equity Subtotal Before Treasury Stock | 2,104.9 | 2,135.3 |
Less: Treasury stock | (121.0) | (19.0) |
Total IPG stockholders' equity | 1,983.9 | 2,116.3 |
Noncontrolling interests | 29.2 | 34.9 |
TOTAL STOCKHOLDERS' EQUITY | 2,013.1 | 2,151.2 |
TOTAL LIABILITIES AND EQUITY | 11,499.3 | 12,747.2 |
Parentheticals: | ||
Allowance for Doubtful Accounts Receivable | 59.5 | 59.5 |
Accumulated Depreciation, Property and Equipment | $ 1,069.4 | $ 1,070.0 |
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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |
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Jun. 30, 2015
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Jun. 30, 2014
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CASH FLOWS FROM OPERATING ACTIVITIES: | ||
NET INCOME | $ 119.6 | $ 81.3 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Depreciation and amortization of fixed assets and intangible assets | 78.2 | 80.7 |
Provision for uncollectible receivables | 6.7 | 5.6 |
Amortization of restricted stock and other non-cash compensation | 33.2 | 26.2 |
Net amortization of bond discounts and deferred financing costs | 2.8 | 2.3 |
Deferred income tax provision | 0.2 | 7.3 |
Other | 11.8 | 14.9 |
Changes in assets and liabilities, net of acquisitions and dispositions, providing (using) cash: | ||
Accounts receivable | 284.1 | 327.6 |
Expenditures billable to clients | (53.2) | (239.4) |
Other current assets | (17.7) | (76.7) |
Accounts payable | (775.3) | (584.5) |
Accrued liabilities | (198.3) | (173.5) |
Other non-current assets and liabilities | (28.7) | (29.0) |
Net cash used in operating activities | (536.6) | (557.2) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Capital expenditures | (49.8) | (58.7) |
Proceeds from sales of businesses and investments, net of cash sold | (0.5) | 10.5 |
Acquisitions, net of cash acquired | 0 | (50.8) |
Other investing activities | 0.4 | (0.1) |
Net cash used in investing activities | (49.9) | (99.1) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Repurchase of common stock | (102.0) | (97.3) |
Common stock dividends | (98.5) | (80.1) |
Acquisition-related payments | (27.8) | (8.6) |
Distributions to noncontrolling interests | (8.2) | (12.1) |
Repayments of long-term debt | (1.0) | (350.1) |
Proceeds from issuance of long-term debt | 0 | 499.1 |
Excess tax benefit on share-based compensation | 9.0 | 4.3 |
Exercise of stock options | 10.6 | 10.7 |
Net increase (decrease) in short term bank borrowings | 54.9 | (52.8) |
Other financing activities | 2.5 | (2.4) |
Net cash used in financing activities | (160.5) | (89.3) |
Effect of foreign exchange rate changes on cash and cash equivalents | (64.7) | 3.9 |
Net decrease in cash and cash equivalents | (811.7) | (741.7) |
Cash and cash equivalents at beginning of period | 1,660.6 | 1,636.8 |
Cash and cash equivalents at end of period | $ 848.9 | $ 895.1 |
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Consolidated Statements of Stockholders' Equity (USD $)
In Millions |
Total
USD ($)
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Common Stock, Shares
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Common Stock
USD ($)
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Additional Paid-In Capital
USD ($)
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Retained Earnings
USD ($)
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Accumulated Other Comprehensive Loss, Net of Tax
USD ($)
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Treasury Stock
USD ($)
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Total IPG Stockholders' Equity
USD ($)
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Noncontrolling Interests
USD ($)
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Beginning Balance at Dec. 31, 2013 | $ 2,250.8 | $ 53.0 | $ 2,975.2 | $ 864.5 | $ (411.2) | $ (1,266.3) | $ 2,215.2 | $ 35.6 | |
Beginning Balance, Common Stock Shares at Dec. 31, 2013 | 532.3 | ||||||||
Net income | 81.3 | 78.5 | 78.5 | 2.8 | |||||
Other Comprehensive Income (Loss), Net of Tax | 27.2 | 28.1 | 28.1 | (0.9) | |||||
Reclassifications Related to Redeemable Noncontrolling Interests | 6.8 | 6.8 | |||||||
Distributions to noncontrolling interests | (12.1) | (12.1) | |||||||
Change in redemption value of redeemable noncontrolling interests | 3.0 | 3.0 | 3.0 | ||||||
Repurchase of common stock, value | (97.3) | (97.3) | (97.3) | ||||||
Common stock dividends | (80.1) | (80.1) | (80.1) | ||||||
Stock-based Compensation, Shares | 3.2 | ||||||||
Stock-based Compensation, Value | 41.8 | 0.3 | 41.5 | 41.8 | |||||
Exercise of Stock Options, Shares | 0.9 | ||||||||
Exercise of Stock Options, Value | 10.8 | 0.1 | 10.7 | 10.8 | |||||
Shares withheld for taxes, Shares | (0.8) | ||||||||
Shares withheld for taxes, Value | (14.6) | (0.1) | (14.5) | (14.6) | |||||
Excess tax benefit from stock-based compensation | 4.3 | 4.3 | 4.3 | ||||||
Other | 0 | (0.4) | (0.4) | (0.4) | |||||
Ending Balance at Jun. 30, 2014 | 2,221.9 | 53.3 | 3,017.2 | 865.5 | (383.1) | (1,363.6) | 2,189.3 | 32.6 | |
Ending Balance, Common Stock Shares at Jun. 30, 2014 | 535.6 | ||||||||
Beginning Balance at Dec. 31, 2014 | 2,151.2 | 41.2 | 1,547.5 | 1,183.3 | (636.7) | (19.0) | 2,116.3 | 34.9 | |
Beginning Balance, Common Stock Shares at Dec. 31, 2014 | 414.6 | ||||||||
Net income | 119.6 | 119.4 | 119.4 | 0.2 | |||||
Other Comprehensive Income (Loss), Net of Tax | (99.8) | (99.1) | (99.1) | (0.7) | |||||
Reclassifications Related to Redeemable Noncontrolling Interests | 3.2 | 3.2 | |||||||
Distributions to noncontrolling interests | (8.2) | (8.2) | |||||||
Change in redemption value of redeemable noncontrolling interests | (2.0) | (2.0) | (2.0) | ||||||
Repurchase of common stock, value | (102.0) | (102.0) | (102.0) | ||||||
Common stock dividends | (98.5) | (98.5) | (98.5) | ||||||
Stock-based Compensation, Shares | 2.4 | ||||||||
Stock-based Compensation, Value | 47.7 | 0.3 | 47.4 | 47.7 | |||||
Exercise of Stock Options, Shares | 1.0 | ||||||||
Exercise of Stock Options, Value | 10.7 | 0.1 | 10.6 | 10.7 | |||||
Shares withheld for taxes, Shares | (0.8) | ||||||||
Shares withheld for taxes, Value | (17.3) | (0.1) | (17.2) | (17.3) | |||||
Excess tax benefit from stock-based compensation | 9.0 | 9.0 | 9.0 | ||||||
Other | (0.5) | 0.1 | (0.4) | (0.3) | (0.2) | ||||
Ending Balance at Jun. 30, 2015 | $ 2,013.1 | $ 41.5 | $ 1,597.4 | $ 1,201.8 | $ (735.8) | $ (121.0) | $ 1,983.9 | $ 29.2 | |
Ending Balance, Common Stock Shares at Jun. 30, 2015 | 417.2 |
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Basis of Presentation (Notes)
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Jun. 30, 2015
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Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The unaudited Consolidated Financial Statements have been prepared by The Interpublic Group of Companies, Inc. and its subsidiaries (the “Company,” “IPG,” “we,” “us” or “our”) in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") 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 U.S. GAAP 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 2014 Annual Report on Form 10-K. In the opinion of management, these unaudited Consolidated Financial Statements include all adjustments, consisting only of normal and recurring adjustments necessary for a fair statement of the information for each period contained therein. Certain reclassifications have been made to prior-period financial statements to conform to the current-period presentation. |
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Debt and Credit Arrangements (Notes)
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Jun. 30, 2015
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Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt and Credit Arrangements | Debt and Credit Arrangements Long-Term Debt A summary of the carrying amounts and fair values of our long-term debt is listed below.
Credit Agreements We maintain a committed corporate credit facility (the "Credit Agreement") and uncommitted lines of credit to increase our financial flexibility. The Credit Agreement is a revolving facility, expiring in December 2018, 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 $1,000.0 or the equivalent in other currencies. The Company has the ability to increase the commitments under the Credit Agreement from time to time by an additional amount of up to $250.0, provided the Company receives commitments for such increases and satisfies certain other conditions. The aggregate available amount of letters of credit outstanding may decrease or increase, subject to a sublimit 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 of our covenants in the Credit Agreement as of June 30, 2015. |
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Earnings Per Share (Notes)
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Jun. 30, 2015
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Earnings Per Share | Earnings Per Share The following sets forth basic and diluted earnings per common share available to IPG common stockholders.
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Supplementary Data Accrued Liabilities (Notes)
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Jun. 30, 2015
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Disclosure Text Block Supplement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities | Accrued Liabilities The following table presents the components of accrued liabilities.
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Supplementary Data Other Income/Expense (Notes)
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Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Other Nonoperating Income and Expense | Other Income (Expense), Net Results of operations for the three and six months ended June 30, 2015 and 2014, include certain items that are not directly associated with our revenue-producing operations.
Loss on Early Extinguishment of Debt - During the second quarter of 2014, we recorded a charge of $10.4 related to the redemption of our 6.25% Senior Unsecured Notes. (Losses) Gains on Sales of Businesses and Investments – During the six months ended June 30, 2015, we recognized a loss from the sale of a business within our Constituency Management Group ("CMG") segment, partially offset by a gain from the sale of a business within our Integrated Agency Networks ("IAN") segment. During the six months ended June 30, 2014, we recognized gains on sales of businesses within our IAN segment and sales of investments in Rabbi Trusts. Vendor Discounts and Credit Adjustments – In connection with the liabilities related to vendor discounts and credits established as part of the restatement we presented in our 2004 Annual Report on Form 10-K, these adjustments reflect the reversal of certain of these liabilities primarily where the statute of limitations has lapsed, or as a result of differences resulting from settlements with clients or vendors. Other Income (Expense), net – During the six months ended June 30, 2015, we recorded a gain on liquidation of an entity in the United Kingdom region within our Corporate and other segment. During the six months ended June 30, 2014, we recorded a loss related to an other-than-temporary impairment of an investment in the Asia Pacific region within our IAN segment. |
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Supplementary Data Share Repurchase Program (Notes)
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Stockholders' Equity Note [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Repurchase Program | Share Repurchase Program In February 2015, our Board of Directors (the "Board") authorized a new share repurchase program to repurchase from time to time up to $300.0, excluding fees, of our common stock, which was in addition to the remaining amount available to be repurchased from the $300.0 authorization made by the Board in February 2014. We may effect such repurchases through open market purchases, trading plans established in accordance with SEC rules, derivative transactions or other means. We expect to continue to repurchase our common stock in future periods, although the timing and amount of the repurchases will depend on market conditions and other funding requirements. The following table presents our share repurchase activity under our share repurchase programs for the six months ended June 30, 2015 and 2014.
As of June 30, 2015, $341.6 remains available for repurchase under the share repurchase programs. The share repurchase programs have no expiration date. |
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Supplementary Data Redeemable Noncontrolling Interests (Notes)
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Redeemable Noncontrolling Interests [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Redeemable Noncontrolling Interests | Redeemable Noncontrolling Interests The following table presents changes in our redeemable noncontrolling interests.
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Income Taxes (Notes)
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Jun. 30, 2015
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Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes For the three and six months ended June 30, 2015, our effective income tax rates of 38.7% and 39.0%, respectively, were negatively impacted primarily by losses in certain foreign jurisdictions where we receive no tax benefit due to 100% valuation allowances. For the six months ended June 30, 2015, our effective income tax rate of 39.0% was positively impacted by the recognition of previously unrecognized tax benefits as a result of the settlement of the 2010 U.S. federal income tax audit. We have various tax years under examination by tax authorities in various countries, 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, various state and local, and non-U.S. tax authorities, we currently anticipate that total unrecognized tax benefits will decrease by an amount between $25.0 and $35.0 in the next twelve months, a portion of which will affect our effective income tax rate, primarily as a result of the settlement of tax examinations and the lapsing of statutes of limitations. We are effectively settled with respect to U.S. federal income tax audits for 2010 and years prior to 2009. With limited exceptions, we are no longer subject to state and local income tax audits for years prior to 2004 or non-U.S. income tax audits for years prior to 2006. |
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Incentive Compensation Plans (Notes)
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Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
Incentive Compensation Plans | 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. We issued the following stock-based awards under the 2014 Performance Incentive Plan (the "2014 PIP") during the six months ended June 30, 2015.
During the six months ended June 30, 2015, the Compensation Committee granted performance cash awards and restricted cash awards under the 2014 PIP with a total target value of $32.8 and $0.7, respectively. Cash awards are expensed over the vesting period, which is typically three years. |
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Restructuring and Other Reorganization-Related Costs (Notes)
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Restructuring and Related Activities Disclosure | Restructuring and Other Reorganization-Related Liabilities 2013 Restructuring Plan In the fourth quarter of 2013, we implemented a cost savings initiative (the "2013 Plan") to better align our cost structure with our revenue, primarily in Continental Europe. During the six months ended June 30, 2015, we recorded $0.1 of net reversals for the 2013 Plan within the IAN segment related to changes in the estimate of lease termination costs, which was included in office and general expenses within our unaudited Consolidated Statements of Operations. All restructuring actions were substantially completed by the end of the first quarter of 2014, with remaining payments expected to be made through 2021. A summary of the 2013 Plan restructuring liability activity for the six months ended June 30, 2015 is listed below.
Prior Restructuring Plans There were no restructuring charges nor other reorganization-related charges incurred for the 2003 and 2001 restructuring plans (the "Prior Restructuring Plans") for the six months ended June 30, 2015. As of June 30, 2015, the remaining liability for the Prior Restructuring Plans was $0.8. |
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Accumulated Other Comprehensive Loss, Net of Tax (Notes)
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Accumulated Other Comprehensive Income [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss Note | Accumulated Other Comprehensive Loss, Net of Tax The following tables present the changes in accumulated other comprehensive loss, net of tax, by component.
Amounts reclassified from accumulated other comprehensive loss, net of tax, for the three and six months ended June 30, 2015 and 2014 are as follows:
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Employee Benefits (Notes)
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Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Employee Benefits Disclosure | Employee Benefits We have a defined benefit pension plan that covers certain U.S. employees (the “Domestic Pension Plan”). We also have numerous funded and unfunded plans outside the U.S. The Interpublic Limited Pension Plan in the U.K. is a defined benefit plan and is our most material foreign pension plan in terms of the benefit obligation and plan assets. Some of our domestic and foreign subsidiaries provide postretirement health benefits and life insurance to eligible employees and, in certain cases, their dependents. The domestic postretirement benefit plan is our most material postretirement benefit plan in terms of the benefit obligation. Certain immaterial foreign pension and postretirement benefit plans have been excluded from the tables below. The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below.
During the six months ended June 30, 2015, we contributed $1.9 and $11.5 of cash to our domestic and foreign pension plans, respectively. For the remainder of 2015, we expect to contribute approximately $1.0 and $11.0 of cash to our domestic and foreign pension plans, respectively. |
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting Disclosure | Segment Information As of June 30, 2015, we have two reportable segments: IAN and CMG. IAN is comprised of McCann Worldgroup, Foote, Cone & Belding ("FCB"), Mullen Lowe Group, IPG Mediabrands, our digital specialist agencies and our domestic integrated agencies. CMG is comprised of a number of our specialist marketing services 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 segment operating income (loss). Segment information is presented consistently with the basis described in our 2014 Annual Report on Form 10-K; however, segment operating income (loss) for the three and six months ended June 30, 2015 and 2014 now includes the impact of net restructuring and other reorganization-related reversals. See Note 7 for further information on net restructuring and other reorganization-related liabilities. Summarized financial information concerning our reportable segments for the three and six months ended June 30, 2015 and 2014 is shown in the following table.
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Fair Value Measurements (Notes)
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | 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. There are three levels of inputs that may be used to measure fair value:
Financial Instruments that are Measured at Fair Value on a Recurring Basis We primarily apply the market approach to determine the fair value of financial instruments that are measured at fair value on a recurring basis. There were no changes to our valuation techniques used to determine the fair value of financial instruments during the six months ended June 30, 2015. The following tables present information about our financial instruments measured at fair value on a recurring basis as of June 30, 2015, and December 31, 2014, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
The following table presents additional information about financial instruments measured at fair value on a recurring basis and for which we utilized Level 3 inputs to determine fair value for the three and six months ended June 30, 2015 and 2014.
Realized losses/(gains) included in net income for mandatorily redeemable noncontrolling interests are reported as a component of interest expense in the unaudited Consolidated Statements of Operations. Financial Instruments that are not Measured at Fair Value on a Recurring Basis The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of June 30, 2015, and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
Our long-term debt is comprised of senior notes and other notes payable. The fair value of our senior notes traded over-the-counter is based on quoted prices for such securities, but for which fair value can also be derived from inputs that are readily observable. Therefore, these senior notes are classified as Level 2 within the fair value hierarchy. Our other notes payable are not actively traded, and their fair value is not solely derived from readily observable inputs. Thus, the fair value of our other notes payable is determined based on proprietary valuation methods and therefore are classified as Level 3 within the fair value hierarchy. See Note 2 for further information on our long-term debt. Non-financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis Certain non-financial assets and liabilities are measured at fair value on a recurring basis, primarily accrued restructuring charges. Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis Certain non-financial assets and liabilities are measured at fair value on a nonrecurring basis, primarily goodwill, intangible assets, and property and equipment. Accordingly, these assets are not measured and adjusted to fair value on an ongoing basis but are subject to periodic evaluations for potential impairment. |
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Commitments and Contingencies (Notes)
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Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Legal Matters We are involved in various legal proceedings and subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities, arising in the normal course of business. The types of allegations that arise in connection with such legal proceedings may vary in nature but can include claims related to contract, employment, tax and intellectual property matters. We evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount, or potential range, of loss can be reasonably estimated. In certain cases, we cannot reasonably estimate the potential loss because, for example, the litigation is in its early stages. While any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty, management believes that the outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows. As previously disclosed, on April 10, 2015, a federal judge in Brazil authorized the search of the records of an agency's offices in São Paulo and Brasilia, and the former general manager of the Brasilia office was detained by police, in connection with an ongoing investigation by Brazilian authorities involving payments potentially connected to local government contracts. The Company had previously investigated the matter and taken a number of remedial and disciplinary actions. We are continuing to cooperate with authorities and the investigation is ongoing. Guarantees We have guaranteed certain obligations of our subsidiaries relating principally to operating leases and credit facilities of certain subsidiaries. The amount of parent company guarantees on lease obligations was $585.7 and $580.4 as of June 30, 2015, and December 31, 2014, respectively, and the amount of parent company guarantees primarily relating to credit facilities was $336.0 and $329.2 as of June 30, 2015, and December 31, 2014, respectively. In the event of nonpayment by the applicable subsidiary of the obligations covered by a guarantee, we would be obligated to pay the amounts covered by that guarantee. |
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Recent Accounting Standards (Notes)
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Jun. 30, 2015
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New Accounting Pronouncements and Changes in Accounting Principles [Abstract] | |
Recent Accounting Standards | Recent Accounting Standards Revenue Recognition In May 2014, the Financial Accounting Standards Board (the "FASB") issued amended guidance on revenue recognition which requires entities to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the company expects to be entitled in exchange for those goods or services. In July 2015, the FASB affirmed its proposal to delay the effective date of the new revenue standard by one year to January 1, 2018, with early adoption to be permitted as of the original effective date of January 1, 2017. We are currently assessing the impact the adoption of the amended guidance will have on our Consolidated Financial Statements. Debt Issuance Costs In April 2015, the FASB issued amended guidance which requires debt issuance costs to be presented as a direct deduction from the carrying value of the associated debt liability rather than as separate assets on the balance sheet. The recognition and measurement guidance for debt issuance costs are not affected by this amendment. This amended guidance will be effective for us beginning January 1, 2016. Early adoption is permitted, and the new guidance will be applied on a retrospective basis. We do not expect the adoption of this amended guidance to have a significant impact on our Consolidated Financial Statements. Consolidation In February 2015, the FASB issued amended guidance to the consolidation standard which updates the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The amendment modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships, among other provisions. This amended guidance will be effective for us beginning January 1, 2016. Early adoption is permitted. We do not expect the adoption of this amended guidance to have a significant impact on our Consolidated Financial Statements. Extraordinary and Unusual Items In January 2015, the FASB issued amended guidance which eliminates the concept of extraordinary items from generally accepted accounting principles. This amendment is effective beginning January 1, 2016, and may be applied retrospectively or prospectively. Early adoption is permitted. Prior to this amendment, an entity was required to separately classify and present an event or transaction that was determined to be both unusual in nature and infrequent in occurrence as an extraordinary item, net of tax, after income from continuing operations in the income statement. Upon adopting this amended guidance, a material event or transaction that an entity considers to be unusual or infrequent, or both, may still be presented separately but will now be presented on a pre-tax basis within income from continuing operations or disclosed in the notes to the financial statements. We have early adopted this guidance as of the quarter ended March 31, 2015. The adoption of this amended guidance did not have an impact on our Consolidated Financial Statements. Going Concern In August 2014, the FASB issued amended guidance which defines management's responsibility to evaluate whether there are conditions or events that raise substantial doubt about the entity’s ability to continue as a going concern and to provide related disclosures. Currently, this evaluation has only been an auditor requirement. Specifically, the amendments (1) provide a definition of the term “substantial doubt,” (2) require an evaluation every reporting period, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantial doubt is alleviated as a result of the consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that financial statements are issued. This amended guidance will be effective for us beginning January 1, 2016. We do not expect the adoption of this amended guidance to have a significant impact on our Consolidated Financial Statements. Share-Based Payments with Performance Targets In June 2014, the FASB issued amended guidance which requires that a performance target that affects vesting, and that could be achieved after the requisite service period, be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. This amended guidance will be effective for us beginning January 1, 2016 and can be either applied prospectively or retrospectively. We do not expect the adoption of this amended guidance to have a significant impact on our Consolidated Financial Statements. |
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Summary of Carrying Amounts and Fair Values of Long-Term Debt | A summary of the carrying amounts and fair values of our long-term debt is listed below.
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Jun. 30, 2015
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Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Earnings Per Share, Basic and Diluted | The following sets forth basic and diluted earnings per common share available to IPG common stockholders.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Supplementary Data Accrued Liabilities (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accrued Liabilities | The following table presents the components of accrued liabilities.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Supplementary Data Other Income and Expense (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Other Income and Expenses [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Other Nonoperating Income, by Component | Results of operations for the three and six months ended June 30, 2015 and 2014, include certain items that are not directly associated with our revenue-producing operations.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Supplementary Data Share Repurchase Program (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share Repurchase Activity | The following table presents our share repurchase activity under our share repurchase programs for the six months ended June 30, 2015 and 2014.
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Supplementary Data Redeemable Noncontrolling Interests (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Redeemable Noncontrolling Interests [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Changes in Redeemable Noncontrolling Interests | The following table presents changes in our redeemable noncontrolling interests.
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X | ||||||||||
- Definition
Changes in redeemable noncontrolling interests [Table Text Block] No definition available.
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X | ||||||||||
- Details
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Incentive Compensation Plans (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Employee Service Share-based Compensation, Aggregate Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||
Stock-based Compensation Awards | We issued the following stock-based awards under the 2014 Performance Incentive Plan (the "2014 PIP") during the six months ended June 30, 2015.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Restructuring and Other Reorganization-Related Costs (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Restructuring and Other Reorganization-Related Costs [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Restructuring Reserve by Type of Cost | A summary of the 2013 Plan restructuring liability activity for the six months ended June 30, 2015 is listed below.
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Accumulated Other Comprehensive Loss, Net of Tax (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Reclassification of Accumulated Other Comprehensive Income [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Other Comprehensive Loss | The following tables present the changes in accumulated other comprehensive loss, net of tax, by component.
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Schedule of Amounts Reclassified from Accumulated Other Comprehensive Loss | Amounts reclassified from accumulated other comprehensive loss, net of tax, for the three and six months ended June 30, 2015 and 2014 are as follows:
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Employee Benefits (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Net Periodic Costs | The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Segment Information (Tables)
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6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment | Summarized financial information concerning our reportable segments for the three and six months ended June 30, 2015 and 2014 is shown in the following table.
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
X | ||||||||||
- Details
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Fair Value Measurements (Tables)
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6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Fair Value Disclosures [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Recurring Basis | The following tables present information about our financial instruments measured at fair value on a recurring basis as of June 30, 2015, and December 31, 2014, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.
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Fair Value, Liabilities Measured on Recurring Basis, Level 3 Roll Forward | The following table presents additional information about financial instruments measured at fair value on a recurring basis and for which we utilized Level 3 inputs to determine fair value for the three and six months ended June 30, 2015 and 2014.
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Fair Value, Assets and Liabilities Measured on Nonrecurring Basis | The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of June 30, 2015, and December 31, 2014, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Long-term Debt (Details) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2015
|
Dec. 31, 2014
|
|||||
Debt Instrument [Line Items] | ||||||
Long-term Debt | $ 1,624.8 | $ 1,625.6 | ||||
Less: current portion | 2.0 | 2.1 | ||||
Long-term Debt, Excluding Current Maturities | 1,622.8 | 1,623.5 | ||||
2.25% Notes
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||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Nov. 15, 2017 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 2.25% | |||||
Debt Instrument, Interest Rate, Effective Percentage | 2.30% | |||||
Debt Instrument, Unamortized Discount | 0.3 | |||||
Long-term Debt, Book Value | 299.7 | 299.6 | ||||
Long-term Debt, Fair Value | 303.2 | [1] | 301.2 | [1] | ||
4.00% Notes
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||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Mar. 15, 2022 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.13% | |||||
Debt Instrument, Unamortized Discount | 2.1 | |||||
Long-term Debt, Book Value | 247.9 | 247.7 | ||||
Long-term Debt, Fair Value | 255.2 | [1] | 255.2 | [1] | ||
3.75% Notes
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||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Feb. 15, 2023 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 3.75% | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.32% | |||||
Debt Instrument, Unamortized Discount | 1.2 | |||||
Long-term Debt, Book Value | 498.8 | 498.8 | ||||
Long-term Debt, Fair Value | 495.8 | [1] | 499.8 | [1] | ||
4.20% Notes
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||||||
Debt Instrument [Line Items] | ||||||
Debt Instrument, Maturity Date | Apr. 15, 2024 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 4.20% | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.24% | |||||
Debt Instrument, Unamortized Discount | 0.8 | |||||
Long-term Debt, Book Value | 499.2 | 499.1 | ||||
Long-term Debt, Fair Value | 505.9 | [1] | 509.8 | [1] | ||
Other notes payable and capitalized leases
|
||||||
Debt Instrument [Line Items] | ||||||
Long-term Debt, Book Value | 79.2 | 80.4 | ||||
Long-term Debt, Fair Value | $ 79.2 | [1] | $ 80.4 | [1] | ||
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Credit Facilities (Details) (USD $)
In Millions, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 30, 2015
|
|
Debt and Credit Arrangements [Abstract] | |
Line of Credit Facility, Expiration Date | Dec. 12, 2018 |
Line of Credit Facility, Maximum Borrowing Capacity | $ 1,000.0 |
Line of Credit Facility, Increase Available | 250.0 |
Line of Credit Facility, Amount Outstanding | $ 200.0 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount by which the company may increase or decrease the credit facility amount. No definition available.
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X | ||||||||||
- Definition
Line of Credit Facility Limits on Letters of Credit No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Earnings Per Share (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Earnings Per Share [Abstract] | ||||
Net Income Attributable to IPG Common Stockholders | $ 121.2 | $ 99.4 | $ 119.4 | $ 78.5 |
Weighted Average Number of Shares Outstanding, Basic | 410.5 | 421.1 | 410.8 | 421.9 |
Dilutive Securities, Effect on Basic Earnings Per Share, Options and Restrictive Stock Units | $ 7.1 | $ 7.0 | $ 6.8 | $ 6.6 |
Weighted Average Number of Shares Outstanding, Diluted | 417.6 | 428.1 | 417.6 | 428.5 |
Earnings Per Share, Basic | $ 0.30 | $ 0.24 | $ 0.29 | $ 0.19 |
Earnings Per Share, Diluted | $ 0.29 | $ 0.23 | $ 0.29 | $ 0.18 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Supplementary Data Accrued Liabilities (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
---|---|---|
Accounts Payable, Current [Abstract] | ||
Salaries, benefits and related expenses | $ 356.4 | $ 510.6 |
Office and related expenses | 46.1 | 51.5 |
Acquisition obligations | 65.6 | 88.1 |
Interest | 17.5 | 18.3 |
Restructuring and other reorganization-related | 4.0 | 5.5 |
Other | 114.2 | 122.0 |
Accrued liabilities, current | $ 603.8 | $ 796.0 |
X | ||||||||||
- Definition
Acquisition related costs such as deferred payments and other obligations No definition available.
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X | ||||||||||
- Definition
Current office and related expenses such as deferred rent expense and lease costs. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Supplementary Data Other Income and Expense (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Other Income and Expenses [Abstract] | ||||
Loss on Early Extinguishment of Debt | $ 0 | $ (10.4) | $ 0 | $ 10.4 |
(Losses) Gains on Sales of Businesses and Investments | (0.1) | 0.3 | (0.2) | 1.1 |
Vendor Discounts and Credit Adjustments | 0.3 | 0.2 | 0.3 | 1.7 |
Other Income (Expense), Net | 0.3 | (1.3) | 0.7 | (1.9) |
Other Nonoperating Income (Expense) | $ 0.5 | $ (11.2) | $ 0.8 | $ (9.5) |
X | ||||||||||
- Definition
Other Gain (Loss) on extinguishment of debt No definition available.
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X | ||||||||||
- Definition
Reversal of vendor discounts and credit liabilities as a result of settlement with clients or vendors or where the statue of limitations has lapsed No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Supplementary Data Share Repurchase Program (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
6 Months Ended | |
---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Equity [Abstract] | ||
Number of shares repurchased | 4.9 | (5.6) |
Aggregate cost, including fees | $ 102.0 | $ 97.3 |
Average price per share, including fees | $ 20.87 | $ 17.51 |
Stock Repurchase Program, Authorized Amount | 300.0 | 300.0 |
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ 341.6 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Supplementary Data Redeemable Noncontrolling Interests (Details) (USD $)
In Millions, unless otherwise specified |
6 Months Ended | |||||
---|---|---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
|||||
Redeemable Noncontrolling Interests [Abstract] | ||||||
Beginning Balance | $ 257.4 | $ 249.1 | ||||
Change in Related Noncontrolling Interests Balance | (8.3) | (6.8) | ||||
Additions | 0 | 7.9 | ||||
Redemptions and Other | (22.5) | (2.9) | ||||
Redemption Value Adjustments | 3.5 | [1] | (0.9) | [1] | ||
Ending Balance | $ 230.1 | $ 246.4 | ||||
|
X | ||||||||||
- Definition
Change in noncontrolling interest balance related to redeemable noncontrolling interests No definition available.
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X | ||||||||||
- Definition
Adjustments to the Redemption Value of Redeemable Noncontrolling Interests No definition available.
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Redeemable noncontrolling interests period increase No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Income Taxes Effective Income Tax Rate (Details)
|
3 Months Ended | 6 Months Ended |
---|---|---|
Jun. 30, 2015
|
Jun. 30, 2015
|
|
Income Tax Disclosure [Abstract] | ||
Effective income tax rate | 38.70% | 39.00% |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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Income Taxes Change in Unrecognized Tax Benefits (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
---|---|
Minimum
|
|
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |
Anticipated Decrease in Unrecognized Tax Benefits in Next 12 Months | $ 25.0 |
Maximum
|
|
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items] | |
Anticipated Decrease in Unrecognized Tax Benefits in Next 12 Months | $ 35.0 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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Incentive Compensation Plans Stock-based Compensation Awards (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 30, 2015
|
|
Share-based Compensation Award [Abstract] | |
Incentive Compensation Plan Initiation Year | 2014 |
Incentive Compensation Plans | |
Granted awards | 3.5 |
Stock settled awards
|
|
Incentive Compensation Plans | |
Granted awards | 0.7 |
Weighted Average Grant Date Fair Value | $ 22.12 |
Performance based awards
|
|
Incentive Compensation Plans | |
Granted awards | 2.8 |
Weighted Average Grant Date Fair Value | $ 20.88 |
Cash awards
|
|
Incentive Compensation Plans | |
Performance Cash awards granted during the period target value | $ 32.8 |
Restricted Cash awards granted during the period target value | $ 0.7 |
Cash awards vesting period | 3 years |
X | ||||||||||
- Definition
Target value of all cash awards granted during the period (settled in shares or cash) No definition available.
|
X | ||||||||||
- Definition
Incentive Compensation Plan Initiation Year No definition available.
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X | ||||||||||
- Definition
Restricted Cash Plan - cash awards granted during the period target value No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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Restructuring and Other Reorganization-Related Costs 2013 Plan (Details) (2013 Restructuring Plan, USD $)
In Millions, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 30, 2015
|
|
Restructuring Cost and Reserve | |
Beginning Liability Balance | $ 7.0 |
Net Restructuring Reversals | (0.1) |
Cash Payments | (2.0) |
Foreign Currency Translation Adjustments | (0.2) |
Ending Liability Balance | 4.7 |
Severance and termination costs
|
|
Restructuring Cost and Reserve | |
Beginning Liability Balance | 4.4 |
Net Restructuring Reversals | 0 |
Cash Payments | (1.5) |
Foreign Currency Translation Adjustments | (0.1) |
Ending Liability Balance | 2.8 |
Lease termination costs
|
|
Restructuring Cost and Reserve | |
Beginning Liability Balance | 2.6 |
Net Restructuring Reversals | (0.1) |
Cash Payments | (0.5) |
Foreign Currency Translation Adjustments | (0.1) |
Ending Liability Balance | $ 1.9 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
No authoritative reference available. No definition available.
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Restructuring and Other Reorganization-Related Costs Prior Year Plans (Details) (Prior Year Restructuring Plans [Domain], USD $)
In Millions, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 30, 2015
|
|
Prior Year Restructuring Plans [Domain]
|
|
Net Restructuring Reversals | $ 0 |
Ending Liability Balance | $ 0.8 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Accumulated Other Comprehensive Loss, Net of Tax (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Foreign Currency Translation Adjustment: | ||||
Balance at beginning of period | $ (436.3) | $ (243.7) | ||
Other comprehensive (loss) income before reclassifications | (108.3) | 25.4 | ||
Amount reclassified from accumulated other comprehensive loss, net of tax | (1.2) | (0.9) | ||
Balance at end of period | (545.8) | (219.2) | (545.8) | (219.2) |
Available-for-sale Securities: | ||||
Balance at beginning of period | 0.8 | 0.4 | ||
Other comprehensive (loss) income before reclassifications | 0.2 | 0.2 | ||
Amount reclassified from accumulated other comprehensive loss, net of tax | (0.1) | 0 | ||
Balance at end of period | 0.9 | 0.6 | 0.9 | 0.6 |
Derivative instruments: | ||||
Balance at beginning of period | (10.9) | (11.7) | ||
Other comprehensive (loss) income before reclassifications | 0 | 0 | 0 | (0.6) |
Amount reclassified from accumulated other comprehensive loss, net of tax | 0.6 | 0.8 | ||
Balance at end of period | (10.3) | (11.5) | (10.3) | (11.5) |
Defined benefit pension and other postretirement plans: | ||||
Balance at beginning of period | (190.3) | (156.2) | ||
Other comprehensive (loss) income before reclassifications | 5.5 | (0.5) | ||
Amount reclassified from accumulated other comprehensive loss,net of tax | 4.2 | 3.7 | ||
Balance at end of period | (180.6) | (153.0) | (180.6) | (153.0) |
Total Changes in Accumulated Other Comprehensive Loss, Net of Tax [Abstract] | ||||
Balance at beginning of period | (636.7) | (411.2) | ||
Other comprehensive (loss) income before reclassifications | (102.6) | 24.5 | ||
Amount reclassified from accumulated other comprehensive loss, net of tax | 1.9 | 2.0 | 3.5 | 3.6 |
Balance at end of period | $ (735.8) | $ (383.1) | $ (735.8) | $ (383.1) |
X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
|
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Accumulated Other Comprehensive Loss, Net of Tax Reclassification of Accumulated Other Comprehensive Loss (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|||||||
Reclassification of Accumulated Other Comprehensive Income [Abstract] | ||||||||||
Foreign currency translation adjustments | $ (0.7) | $ 0 | $ (1.2) | $ (0.9) | ||||||
Losses on derivative instruments | 0.5 | 0.5 | 1.0 | 0.9 | ||||||
Amortization of defined benefit pension and postretirement plans items | 3.4 | [1] | 2.4 | [1] | 6.4 | [1] | 5.0 | [1] | ||
Tax effect | (1.3) | (0.9) | (2.7) | (1.4) | ||||||
Total amount reclassified from accumulated other comprehensive loss, net of tax | $ 1.9 | $ 2.0 | $ 3.5 | $ 3.6 | ||||||
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
|
Employee Benefits (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Domestic Pension Plan
|
||||
Defined Pension and Postretirement Benefit Plans | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 1.5 | 1.5 | 3.0 | 3.1 |
Expected return on plan assets | (1.9) | (1.8) | (3.8) | (3.7) |
Settlements and curtailments | 0 | 0 | 0 | 0 |
Amortization of: | ||||
Prior service cost (credit) | 0 | 0 | 0 | 0 |
Unrecognized actuarial losses | 2.1 | 1.6 | 4.1 | 3.3 |
Net periodic cost | 1.7 | 1.3 | 3.3 | 2.7 |
Actual Employer Contributions - Current Fiscal Year | 1.9 | |||
Estimated Future Employer Contributions - Current Fiscal Year | 1.0 | |||
Foreign Pension Plans
|
||||
Defined Pension and Postretirement Benefit Plans | ||||
Service cost | 2.4 | 2.4 | 4.9 | 4.9 |
Interest cost | 4.7 | 5.9 | 9.4 | 11.8 |
Expected return on plan assets | (5.2) | (6.2) | (10.3) | (12.4) |
Settlements and curtailments | 0.2 | 0 | 0.2 | 0 |
Amortization of: | ||||
Prior service cost (credit) | 0.1 | 0.1 | 0.1 | 0.1 |
Unrecognized actuarial losses | 1.0 | 0.8 | 2.0 | 1.7 |
Net periodic cost | 3.2 | 3.0 | 6.3 | 6.1 |
Actual Employer Contributions - Current Fiscal Year | 11.5 | |||
Estimated Future Employer Contributions - Current Fiscal Year | 11.0 | |||
Domestic Postretirement Benefit Plan
|
||||
Defined Pension and Postretirement Benefit Plans | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 0.3 | 0.5 | 0.7 | 0.9 |
Expected return on plan assets | 0 | 0 | 0 | 0 |
Settlements and curtailments | 0 | 0 | 0 | 0 |
Amortization of: | ||||
Prior service cost (credit) | 0 | (0.1) | 0 | (0.1) |
Unrecognized actuarial losses | 0 | 0 | 0 | 0 |
Net periodic cost | $ 0.3 | $ 0.4 | $ 0.7 | $ 0.8 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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- Definition
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Segment Information Operations (Details) (USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Financial Data: | ||||
Revenue | $ 1,876.1 | $ 1,851.4 | $ 3,552.1 | $ 3,488.9 |
Operating Income (Loss) | 215.8 | 195.8 | 223.6 | 184.1 |
Interest expense | 20.3 | 22.6 | 41.2 | 42.8 |
Interest income | 5.0 | 6.6 | 12.2 | 12.8 |
Other Nonoperating Income (Expense) | 0.5 | (11.2) | 0.8 | (9.5) |
Income before income taxes | 201.0 | 168.6 | 195.4 | 144.6 |
Depreciation and amortization of fixed assets and intangible assets | 39.5 | 40.2 | 78.2 | 80.7 |
Capital expenditures | 29.6 | 32.1 | 49.8 | 58.7 |
IAN
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||||
Financial Data: | ||||
Revenue | 1,526.7 | 1,496.0 | 2,876.6 | 2,811.7 |
Operating Income (Loss) | 205.0 | 184.0 | 236.6 | 195.5 |
Depreciation and amortization of fixed assets and intangible assets | 30.2 | 30.2 | 59.6 | 61.7 |
Capital expenditures | 20.4 | 17.2 | 32.5 | 31.1 |
CMG
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||||
Financial Data: | ||||
Revenue | 349.4 | 355.4 | 675.5 | 677.2 |
Operating Income (Loss) | 41.3 | 41.3 | 61.0 | 58.8 |
Depreciation and amortization of fixed assets and intangible assets | 4.4 | 4.6 | 9.0 | 8.8 |
Capital expenditures | 2.3 | 3.1 | 3.4 | 5.6 |
Corporate and Other
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||||
Financial Data: | ||||
Operating Income (Loss) | (30.5) | (29.5) | (74.0) | (70.2) |
Depreciation and amortization of fixed assets and intangible assets | 4.9 | 5.4 | 9.6 | 10.2 |
Capital expenditures | $ 6.9 | $ 11.8 | $ 13.9 | $ 22.0 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Segment Information Balance Sheet (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
---|---|---|
Financial Data: | ||
Assets | $ 11,499.3 | $ 12,747.2 |
IAN
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||
Financial Data: | ||
Assets | 10,156.4 | 11,111.2 |
CMG
|
||
Financial Data: | ||
Assets | 1,275.2 | 1,316.5 |
Corporate and Other
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Financial Data: | ||
Assets | $ 67.7 | $ 319.5 |
X | ||||||||||
- Definition
No authoritative reference available. No definition available.
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Fair Value Measurements, Recurring and Nonrecurring Basis (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
||||
---|---|---|---|---|---|---|
Fair Value, Measurements, Recurring | Level 1
|
||||||
Fair Value Assets and Liabilities | ||||||
Cash equivalents | $ 357.4 | $ 901.4 | ||||
Short-term marketable securities | 6.7 | 6.6 | ||||
Long-term investments | 0.5 | 0.5 | ||||
Fair Value of Total Assets, Recurring | 364.6 | 908.5 | ||||
Fair value of assets measured on a recurring basis, percentage of total assets | 3.20% | 7.10% | ||||
Mandatorily redeemable noncontrolling interests | 0 | [1] | 0 | [1] | ||
Fair Value, Measurements, Recurring | Level 2
|
||||||
Fair Value Assets and Liabilities | ||||||
Cash equivalents | 0 | 0 | ||||
Short-term marketable securities | 0 | 0 | ||||
Long-term investments | 0 | 0 | ||||
Fair Value of Total Assets, Recurring | 0 | 0 | ||||
Fair value of assets measured on a recurring basis, percentage of total assets | 0.00% | 0.00% | ||||
Mandatorily redeemable noncontrolling interests | 0 | [1] | 0 | [1] | ||
Fair Value, Measurements, Recurring | Level 3
|
||||||
Fair Value Assets and Liabilities | ||||||
Cash equivalents | 0 | 0 | ||||
Short-term marketable securities | 0 | 0 | ||||
Long-term investments | 0 | 0 | ||||
Fair Value of Total Assets, Recurring | 0 | 0 | ||||
Fair value of assets measured on a recurring basis, percentage of total assets | 0.00% | 0.00% | ||||
Mandatorily redeemable noncontrolling interests | 44.9 | [1] | 32.8 | [1] | ||
Fair Value, Measurements, Recurring | Fair Value, Total
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||||||
Fair Value Assets and Liabilities | ||||||
Cash equivalents | 357.4 | 901.4 | ||||
Short-term marketable securities | 6.7 | 6.6 | ||||
Long-term investments | 0.5 | 0.5 | ||||
Fair Value of Total Assets, Recurring | 364.6 | 908.5 | ||||
Fair value of assets measured on a recurring basis, percentage of total assets | 3.20% | 7.10% | ||||
Mandatorily redeemable noncontrolling interests | 44.9 | [1] | 32.8 | [1] | ||
Fair Value, Measurements, Nonrecurring | Level 1
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||||||
Fair Value Assets and Liabilities | ||||||
Long-term Debt, Fair Value | 0 | 0 | ||||
Fair Value, Measurements, Nonrecurring | Level 2
|
||||||
Fair Value Assets and Liabilities | ||||||
Long-term Debt, Fair Value | 1,560.1 | 1,566.0 | ||||
Fair Value, Measurements, Nonrecurring | Level 3
|
||||||
Fair Value Assets and Liabilities | ||||||
Long-term Debt, Fair Value | 79.2 | 80.4 | ||||
Fair Value, Measurements, Nonrecurring | Fair Value, Total
|
||||||
Fair Value Assets and Liabilities | ||||||
Long-term Debt, Fair Value | $ 1,639.3 | $ 1,646.4 | ||||
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X | ||||||||||
- Definition
Fair value of assets measured on a recurring basis as a percentage of total assets No definition available.
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- Definition
Fair value of mandatorily redeemable noncontrolling interests recorded as a liability on the balance sheet No definition available.
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- Definition
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Fair Value Level 3 Inputs (Details) (Mandatorily redeemable noncontrolling interests, USD $)
In Millions, unless otherwise specified |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Mandatorily redeemable noncontrolling interests
|
||||
Fair Value, Liabilities Measured on Recurring Basis, Level 3 Roll Forward | ||||
Balance at beginning of period | $ 46.8 | $ 28.9 | $ 32.8 | $ 27.0 |
Level 3 additions | 6.8 | 0.5 | 21.8 | 2.5 |
Level 3 reductions | (10.0) | (0.6) | (11.4) | (0.6) |
Realized losses/(gains) included in net income | 0.5 | (0.1) | 0.9 | (0.2) |
Foreign currency translation | 0.8 | 0 | 0.8 | 0 |
Balance at end of period | $ 44.9 | $ 28.7 | $ 44.9 | $ 28.7 |
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Commitments and Contingencies (Details) (USD $)
In Millions, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
---|---|---|
Lease Obligations
|
||
Guarantor Obligations [Line Items] | ||
Guarantor Obligations, Current Carrying Value | $ 585.7 | $ 580.4 |
Credit Facilities
|
||
Guarantor Obligations [Line Items] | ||
Guarantor Obligations, Current Carrying Value | $ 336.0 | $ 329.2 |
X | ||||||||||
- Definition
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- Details
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