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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 10-Q
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2022
or
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commission file number: 1-6686
https://cdn.kscope.io/c04888a422ddf386f81e4e172a891247-ipg-20220630_g1.jpg
THE INTERPUBLIC GROUP OF COMPANIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 13-1024020
(State or other jurisdiction of
incorporation or organization)
 (I.R.S. Employer
Identification No.)
909 Third Avenue, New York, New York 10022
(Address of principal executive offices) (Zip Code)
(212)704-1200
(Registrant’s telephone number, including area code)
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.10 per shareIPGThe New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý    No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý    No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large Accelerated FilerAccelerated Filer
Non-accelerated FilerSmaller Reporting Company
Emerging Growth Company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes     No ý

The number of shares of the registrant’s common stock outstanding as of July 18, 2022 was 391,028,246.



INDEX
 Page
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 6.
1




INFORMATION REGARDING FORWARD-LOOKING DISCLOSURE
This quarterly report on Form 10-Q contains forward-looking statements. Statements in this report that are not historical facts, including statements about management’s beliefs and expectations, constitute forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” “continue” or comparable terminology are intended to identify forward-looking statements. These statements are based on current plans, estimates and projections, and are subject to change based on a number of factors, including those outlined under Item 1A, Risk Factors, in our most recent annual report on Form 10-K and our quarterly reports on Form 10-Q. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, the following:
the effects of a challenging economy on the demand for our advertising and marketing services, on our clients’ financial condition and on our business or financial condition;
the impacts of the COVID-19 pandemic, including unanticipated developments like the emergence of new coronavirus variants or any shortfalls in vaccination efforts, and associated mitigation measures such as social distancing efforts and restrictions on businesses, social activities and travel on the economy, our clients and demand for our services, which may precipitate or exacerbate other risks and uncertainties;
our ability to attract new clients and retain existing clients;
our ability to retain and attract key employees;
risks associated with assumptions we make in connection with our critical accounting estimates, including changes in assumptions associated with any effects of a challenging economy;
potential adverse effects if we are required to recognize impairment charges or other adverse accounting-related developments;
risks associated with the effects of global, national and regional economic and political conditions, including counterparty risks and fluctuations in interest rates, inflation rates and currency exchange rates;
developments from changes in the regulatory and legal environment for advertising and marketing services companies around the world, including laws and regulations related to data protection and consumer privacy;
the impact on our operations of general or directed cybersecurity events; and
failure to fully realize the anticipated benefits of our 2020 restructuring actions and other cost-savings initiatives.
Investors should carefully consider these factors and the additional risk factors outlined in more detail under Item 1A, Risk Factors, in our most recent annual report on Form 10-K and our quarterly reports on Form 10-Q.
2


Table of Contents
PART I – FINANCIAL INFORMATION
Item 1.Financial Statements (Unaudited)
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Amounts in Millions, Except Per Share Amounts)
(Unaudited)
 Three months ended
June 30,
Six months ended
June 30,
 2022202120222021
REVENUE:
Net revenue$2,375.5 $2,269.6 $4,602.7 $4,297.3 
Billable expenses360.2 240.0 701.5 469.3 
Total revenue2,735.7 2,509.6 5,304.2 4,766.6 
OPERATING EXPENSES:
Salaries and related expenses1,590.2 1,484.9 3,154.6 2,878.0 
Office and other direct expenses349.8 301.0 673.2 593.9 
Billable expenses360.2 240.0 701.5 469.3 
Cost of services
2,300.2 2,025.9 4,529.3 3,941.2 
Selling, general and administrative expenses19.4 29.4 38.7 57.6 
Depreciation and amortization67.1 70.1 134.9 139.3 
Restructuring charges(0.1)(0.2)6.5 1.1 
Total operating expenses2,386.6 2,125.2 4,709.4 4,139.2 
OPERATING INCOME349.1 384.4 594.8 627.4 
EXPENSES AND OTHER INCOME:
Interest expense(41.0)(42.6)(80.4)(92.2)
Interest income11.2 7.6 21.0 14.5 
Other (expense) income, net(4.5)4.7 (10.7)(79.2)
Total (expenses) and other income(34.3)(30.3)(70.1)(156.9)
INCOME BEFORE INCOME TAXES314.8 354.1 524.7 470.5 
Provision for income taxes83.7 86.7 132.8 110.5 
INCOME OF CONSOLIDATED COMPANIES231.1 267.4 391.9 360.0 
Equity in net income of unconsolidated affiliates0.7 0.4 0.8 0.2 
NET INCOME231.8 267.8 392.7 360.2 
Net income attributable to non-controlling interests(2.2)(4.5)(3.7)(5.2)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS$229.6 $263.3 $389.0 $355.0 
Earnings per share available to IPG common stockholders:
Basic$0.58 $0.67 $0.99 $0.90 
Diluted$0.58 $0.66 $0.98 $0.89 
Weighted-average number of common shares outstanding:
Basic393.1393.3393.8392.4
Diluted396.8399.0397.5397.6

The accompanying notes are an integral part of these unaudited financial statements.
3


Table of Contents
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(Amounts in Millions)
(Unaudited)
 Three months ended
June 30,
Six months ended
June 30,
2022202120222021
NET INCOME$231.8 $267.8 $392.7 $360.2 
OTHER COMPREHENSIVE (LOSS) INCOME
Foreign currency translation:
Foreign currency translation adjustments(108.9)16.6 (112.5)(24.4)
Reclassification adjustments recognized in net income1.8 (2.2)1.8 (1.5)
(107.1)14.4 (110.7)(25.9)
Derivative instruments:
Changes in fair value of derivative instruments6.7 (6.4)12.6 14.9 
Recognition of previously unrealized net (gain) loss in net income(0.4)(0.3)(0.7)4.9 
Income tax effect(1.6)1.6 (3.0)(2.6)
4.7 (5.1)8.9 17.2 
Defined benefit pension and other postretirement plans:
Net actuarial gains (losses) for the period4.0 (1.2)3.4 (1.2)
Amortization of unrecognized losses, transition obligation and prior service cost included in net income1.6 2.5 3.3 4.8 
Other0.1 0.1 0.0 0.0 
Income tax effect(1.2)(0.6)(0.6)(1.0)
4.5 0.8 6.1 2.6 
Other comprehensive (loss) income, net of tax(97.9)10.1 (95.7)(6.1)
TOTAL COMPREHENSIVE INCOME133.9 277.9 297.0 354.1 
Less: comprehensive income attributable to non-controlling interests0.9 4.6 2.7 5.2 
COMPREHENSIVE INCOME ATTRIBUTABLE TO IPG$133.0 $273.3 $294.3 $348.9 

The accompanying notes are an integral part of these unaudited financial statements.
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THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Amounts in Millions)
(Unaudited)
June 30,
2022
December 31,
2021
ASSETS:
Cash and cash equivalents$1,983.4 $3,270.0 
Accounts receivable, net of allowance of $58.8 and $68.5, respectively4,014.9 5,177.7 
Accounts receivable, billable to clients2,233.0 2,347.2 
Assets held for sale17.7 8.2 
Other current assets511.8 428.7 
Total current assets8,760.8 11,231.8 
Property and equipment, net of accumulated depreciation and amortization of $1,240.1 and $1,201.6, respectively641.6 675.8 
Deferred income taxes300.6 301.4 
Goodwill4,855.2 4,908.7 
Other intangible assets799.8 847.5 
Operating lease right-of-use assets1,446.4 1,544.4 
Other non-current assets444.8 399.6 
TOTAL ASSETS$17,249.2 $19,909.2 
LIABILITIES:
Accounts payable$6,861.3 $8,960.0 
Accrued liabilities623.5 918.1 
Contract liabilities664.4 688.5 
Short-term borrowings45.7 47.5 
Current portion of long-term debt0.6 0.7 
Current portion of operating leases255.0 265.8 
Liabilities held for sale12.2 9.4 
Total current liabilities8,462.7 10,890.0 
Long-term debt2,906.1 2,908.6 
Non-current operating leases1,468.7 1,576.0 
Deferred compensation288.2 329.1 
Other non-current liabilities625.1 600.7 
TOTAL LIABILITIES13,750.8 16,304.4 
Redeemable non-controlling interests (see Note 5)9.4 15.6 
STOCKHOLDERS’ EQUITY:
Common stock39.6 39.3 
Additional paid-in capital1,222.1 1,226.6 
Retained earnings3,311.8 3,154.3 
Accumulated other comprehensive loss, net of tax(988.9)(894.2)
3,584.6 3,526.0 
Less: Treasury stock(147.9) 
Total IPG stockholders’ equity3,436.7 3,526.0 
Non-controlling interests52.3 63.2 
TOTAL STOCKHOLDERS’ EQUITY3,489.0 3,589.2 
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY$17,249.2 $19,909.2 
The accompanying notes are an integral part of these unaudited financial statements.
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THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(Amounts in Millions)
(Unaudited)
 Six months ended
June 30,
  
20222021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income$392.7 $360.2 
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization134.9 139.3 
Amortization of restricted stock and other non-cash compensation25.3 42.2 
Net losses on sales of businesses7.1 14.2 
Net amortization of bond discounts and deferred financing costs1.4 3.8 
Loss on early extinguishment of debt 74.0 
Deferred income tax(0.1)46.6 
Provision for uncollectible receivables(6.0)(3.2)
Other19.3 5.9 
Changes in assets and liabilities, net of acquisitions and divestitures, provided (using) cash:
Accounts receivable970.4 714.9 
Accounts receivable, billable to clients35.4 (235.2)
Other current assets(112.9)(97.1)
Accounts payable(1,838.2)(615.4)
Accrued liabilities(302.3)(184.5)
Contract liabilities0.1 22.0 
Other non-current assets and liabilities(51.5)(69.3)
Net cash (used in) provided by operating activities(724.4)218.4 
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures(72.3)(62.1)
Deconsolidation of a subsidiary(20.4) 
Net proceeds from investments 2.6 28.8 
Other investing activities0.3 (9.8)
Net cash used in investing activities(89.8)(43.1)
CASH FLOWS FROM FINANCING ACTIVITIES:
Common stock dividends(232.1)(215.2)
Repurchases of common stock(147.9) 
Tax payments for employee shares withheld (39.6)(24.0)
Net (decrease) increase in short-term borrowings(12.1)15.8 
Acquisition-related payments(6.0)(12.3)
Distributions to non-controlling interests(5.2)(6.9)
Proceeds from long-term debt0.0 998.1 
Exercise of stock options0.0 8.0 
Early extinguishment of long-term debt (1,066.8)
Other financing activities(0.2)(11.2)
Net cash used in financing activities(443.1)(314.5)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash(28.8)(27.9)
Net decrease in cash, cash equivalents and restricted cash(1,286.1)(167.1)
Cash, cash equivalents and restricted cash at beginning of period3,272.2 2,511.5 
Cash, cash equivalents and restricted cash at end of period$1,986.1 $2,344.4 
The accompanying notes are an integral part of these unaudited financial statements.
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THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(Amounts in Millions)
(Unaudited)
 
 
Common Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated 
Other
Comprehensive
Loss, Net of Tax
Treasury StockTotal IPG
Stockholders’
Equity
Non-controlling
Interests
Total
Stockholders’
Equity
 SharesAmount
Balance at March 31, 2022396.1 $39.7 $1,206.0 $3,196.7 $(892.3)$(63.1)$3,487.0 $61.8 $3,548.8 
Net income229.6 229.6 2.2 231.8 
Other comprehensive loss(96.6)(96.6)(1.3)(97.9)
Reclassifications related to redeemable non-controlling interests(1.9)(1.9)0.9 (1.0)
Distributions to non-controlling interests0.0 (2.1)(2.1)
Change in redemption value of redeemable non-controlling interests0.1 0.1 0.1 
Repurchase of common stock(84.8)(84.8)(84.8)
Common stock dividends ($0.290 per share)(114.6)(114.6)(114.6)
Stock-based compensation0.3 (0.1)18.7 18.6 18.6 
Shares withheld for taxes0.0 0.0 (1.2)(1.2)(1.2)
Other0.5 0.5 (9.2)(8.7)
Balance at June 30, 2022396.4 $39.6 $1,222.1 $3,311.8 $(988.9)$(147.9)$3,436.7 $52.3 $3,489.0 
 
 
Common Stock
Additional
Paid-In
Capital
Retained
Earnings
Accumulated 
Other
Comprehensive
Loss, Net of Tax
Treasury StockTotal IPG
Stockholders’
Equity
Non-controlling
Interests
Total
Stockholders’
Equity
 SharesAmount
Balance at December 31, 2021394.3 $39.3 $1,226.6 $3,154.3 $(894.2)$0.0 $3,526.0 $63.2 $3,589.2 
Net income389.0 389.0 3.7 392.7 
Other comprehensive loss(94.7)(94.7)(1.0)(95.7)
Reclassifications related to redeemable non-controlling interests(3.1)(3.1)0.8 (2.3)
Distributions to non-controlling interests(5.2)(5.2)
Change in redemption value of redeemable non-controlling interests(1.3)(1.3)(1.3)
Repurchase of common stock(147.9)(147.9)(147.9)
Common stock dividends ($0.580 per share)(230.2)(230.2)(230.2)
Stock-based compensation3.1 0.4 36.2 36.6 36.6 
Shares withheld for taxes(1.0)(0.1)(38.1)(38.2)(38.2)
Other0.5 0.5 (9.2)(8.7)
Balance at June 30, 2022396.4 $39.6 $1,222.1 $3,311.8 $(988.9)$(147.9)$3,436.7 $52.3 $3,489.0 

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 Common StockAdditional
Paid-In
Capital
Retained
Earnings
Accumulated 
Other
Comprehensive
Loss, Net of Tax
Total IPG
Stockholders’
Equity
Non-controlling
Interests
Total
Stockholders’
Equity
 SharesAmount
Balance at March 31, 2021393.2 $39.3 $1,107.9 $2,623.1 $(896.3)$2,874.0 $47.6 $2,921.6 
Net income263.3 263.3 4.5 267.8 
Other comprehensive income10.0 10.0 0.1 10.1 
Reclassifications related to redeemable non-controlling interests(0.4)(0.4)
Distributions to non-controlling interests(3.5)(3.5)
Change in redemption value of redeemable non-controlling interests(1.7)(1.7)(1.7)
Common stock dividends ($0.270 per share)(107.2)(107.2)(107.2)
Stock-based compensation0.3 0.0 25.7 25.7 25.7 
Exercise of stock options0.0 0.0 0.1 0.1 0.1 
Shares withheld for taxes0.0 0.0 (1.3)(1.3)(1.3)
Other0.1 0.1 
Balance at June 30, 2021393.5 $39.3 $1,132.4 $2,777.5 $(886.3)$3,062.9 $48.4 $3,111.3 
 Common StockAdditional
Paid-In
Capital
Retained
Earnings
Accumulated 
Other
Comprehensive
Loss, Net of Tax
Total IPG
Stockholders’
Equity
Non-controlling
Interests
Total
Stockholders’
Equity
 SharesAmount
Balance at December 31, 2020390.9 $39.0 $1,099.3 $2,636.9 $(880.2)$2,895.0 $48.9 $2,943.9 
Net income355.0 355.0 5.2 360.2 
Other comprehensive loss(6.1)(6.1)0.0 (6.1)
Reclassifications related to redeemable non-controlling interests0.6 0.6 
Distributions to non-controlling interests(6.8)(6.8)
Change in redemption value of redeemable non-controlling interests(0.7)(0.7)(0.7)
Common stock dividends ($0.540 per share)(213.7)(213.7)(213.7)
Stock-based compensation2.9 0.3 49.1 49.4 49.4 
Exercise of stock options0.6 0.1 8.3 8.4 8.4 
Shares withheld for taxes(0.9)(0.1)(24.3)(24.4)(24.4)
Other0.5 0.5 
Balance at June 30, 2021393.5 $39.3 $1,132.4 $2,777.5 $(886.3)$3,062.9 $48.4 $3,111.3 

The accompanying notes are an integral part of these unaudited financial statements.
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Table of Contents
Notes to Consolidated Financial Statements
(Amounts in Millions, Except Per Share Amounts)
(Unaudited)
Note 1:  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 effects of the coronavirus ("COVID-19") pandemic have impacted and will likely continue to impact our results of operations, cash flows and financial position. The Company’s Consolidated Financial Statements presented herein reflect the latest estimates and assumptions made by management that affect the reported amounts of assets and liabilities and related disclosures as of the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods presented. The Company believes it has used reasonable estimates and assumptions to assess the fair values of goodwill, long-lived assets and indefinite-lived intangible assets; assessment of the annual effective tax rate; valuation of deferred income taxes and allowance for expected credit losses on future uncollectible accounts receivable.
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 Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 Annual Report”).
Effective January 1, 2022, the Company completed a managerial and operational review, which resulted in organizational realignments to our financial reporting segment structure. As a result, the Company determined we conduct our business across three reportable segments described in Note 11. The three reportable segments are: Media, Data & Engagement Solutions ("MD&E"), Integrated Advertising & Creativity Led Solutions ("IA&C"), and Specialized Communications & Experiential Solutions ("SC&E"). In conjunction with the new reporting structure, the Company has recast certain prior period amounts, wherever applicable, to reflect our revised organizational alignment. This change does not impact the unaudited consolidated statements of operations and comprehensive income, consolidated balance sheets, consolidated statement of cash flows and consolidated statements of stockholders' equity for any of the previously reported periods.
Cost of services is comprised of the expenses of our revenue-producing reportable segments, MD&E, IA&C, and SC&E, including salaries and related expenses, office and other direct expenses and billable expenses, and includes an allocation of the centrally managed expenses from our "Corporate and Other" group. Office and other direct expenses include rent expense, professional fees, certain expenses incurred by our staff in servicing our clients and other costs directly attributable to client engagements.
Selling, general and administrative expenses are primarily the unallocated expenses from Corporate and Other, excluding depreciation and amortization.
Depreciation and amortization of fixed assets and intangible assets of the Company is disclosed as a separate operating expense.
Restructuring charges in 2022 consist of adjustments to the Company's restructuring actions taken during 2020 to lower our operating expenses structurally and permanently relative to revenue and to accelerate the transformation of our business, as discussed further in Note 7. Restructuring charges mainly include severance and termination costs and lease impairment costs.
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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Table of Contents
Notes to Consolidated Financial Statements – (continued)
(Amounts in Millions, Except Per Share Amounts)
(Unaudited)
Note 2:  Revenue
Disaggregation of Revenue
We have three reportable segments as of June 30, 2022: MD&E, IA&C and SC&E, as further discussed in Note 11. MD&E principally generates revenue from providing global media and communications services, digital services and products, advertising and marketing technology, e‐commerce services, data management and analytics, strategic consulting, and digital brand experience. IA&C principally generates revenue from providing advertising, corporate and brand identity services, and strategic consulting. SC&E generates revenue from providing best-in-class global public relations and communications services, events, sports and entertainment marketing, and strategic consulting.
Our agencies are located in over 100 countries, including every significant world market. Our geographic revenue breakdown is listed below.
 Three months ended
June 30,
Six months ended
June 30,
Total revenue:2022202120222021
United States$1,777.1 $1,557.9 $3,427.5 $2,983.7 
International:
United Kingdom219.2 209.6 451.3 413.1 
Continental Europe221.1 229.8 425.8 425.4 
Asia Pacific217.8 233.2 433.1 444.1 
Latin America110.0 104.4 204.4 188.0 
Other190.5 174.7 362.1 312.3 
Total International958.6 951.7 1,876.7 1,782.9 
Total Consolidated$2,735.7 $2,509.6 $5,304.2 $4,766.6 
 
 Three months ended
June 30,
Six months ended
June 30,
Net revenue:2022202120222021
United States$1,554.9 $1,435.5 $3,025.0 $2,745.3 
International:
United Kingdom184.8 194.6 367.2 378.6 
Continental Europe199.8 205.5 379.1 381.3 
Asia Pacific187.8 192.5 362.4 361.6 
Latin America101.9 96.9 189.6 172.3 
Other146.3 144.6 279.4 258.2 
Total International820.6 834.1 1,577.7 1,552.0 
Total Consolidated$2,375.5 $2,269.6 $4,602.7 $4,297.3 
 
10

Table of Contents
Notes to Consolidated Financial Statements – (continued)
(Amounts in Millions, Except Per Share Amounts)
(Unaudited)
MD&EThree months ended
June 30,
Six months ended
June 30,
Total revenue:2022202120222021
United States$629.0 $603.5 $1,228.2 $1,138.1 
International411.8 399.5 768.4 736.4 
Total MD&E$1,040.8 $1,003.0 $1,996.6 $1,874.5 
Net revenue:
United States$617.6 $598.7 $1,205.4 $1,126.4 
International400.2 386.6 744.5 708.7 
Total MD&E$1,017.8 $985.3 $1,949.9 $1,835.1 
 
IA&CThree months ended
June 30,
Six months ended
June 30,
Total revenue:2022202120222021
United States$717.9 $639.9 $1,391.8 $1,239.8 
International386.1 409.0 765.8 762.3 
Total IA&C$1,104.0 $1,048.9 $2,157.6 $2,002.1 
Net revenue:
United States$690.6 $615.9 $1,337.0 $1,190.3 
International318.7 347.3 630.8 648.2 
Total IA&C$1,009.3 $963.2 $1,967.8 $1,838.5 

SC&EThree months ended
June 30,
Six months ended
June 30,
Total revenue:2022202120222021
United States$430.2 $314.5 $807.5 $605.8 
International160.7 143.2 342.5 284.2 
Total SC&E$590.9 $457.7 $1,150.0 $890.0 
Net revenue:
United States$246.7 $220.9 $482.6 $428.6 
International101.7 100.2 202.4 195.1 
Total SC&E$348.4 $321.1 $685.0 $