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Loss on Assets Held for Sale or Dispositions of Subsidiaries
 3 Months Ended
Mar. 31, 2026
Loss on Assets Held for Sale or Dispositions of Subsidiaries [Abstract]  
Loss on Assets Held for Sale or Dispositions of Subsidiaries Loss on Assets Held for Sale or Dispositions of Subsidiaries
During the fourth quarter of 2025, management determined that the assets and liabilities of certain businesses planned for disposition in the next twelve months, primarily within the Advertising and Experiential & Other (formerly, Execution & Support) disciplines, met the criteria to be classified as held for sale. Accordingly, these businesses were recorded at net realizable value - fair value less cost to sell. The disposals do not represent a strategic shift that has or will have a major effect on our operations or financial results and therefore do not qualify for discontinued operations presentation.
During the first quarter of 2026, we identified additional businesses for disposition as part of our ongoing review of our strategic position. We recorded impairment charges of $34.3 million to write down the businesses identified for disposition to net realizable value. Fair value was determined using discounted cash flow analyses, supplemented by observable market inputs where available. These charges were recorded in loss on assets held for sale and disposition of subsidiaries in the consolidated statements of income. In addition, we closed on the sale of certain legacy IPG businesses and recorded an adjustment to goodwill (see Note 5 to the consolidated financial statements).
The following table presents the major classes of assets and liabilities classified as held for sale and included in the consolidated balance sheet as of March 31, 2026. Assets and liabilities classified as held for sale are presented separately within current assets and current liabilities, respectively, in the consolidated balance sheet as of March 31, 2026.
March 31,
December 31,
20262025
Assets Held for Sale or Disposition
Accounts receivable$405.3 $623.4 
Work in process141.8 240.7 
Other current assets135.4 116.8 
Property and Equipment, net13.5 13.1 
Other assets15.6 18.2 
Total Assets Held for Sale or Disposition$711.6 $1,012.2 
Liabilities Held for Sale or Disposition
Accounts payable$524.6 $669.7 
Customer advances254.2 377.5 
Other current liabilities193.5 213.8 
Total Liabilities Held for Sale or Disposition$972.3 $1,261.0