Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 2011

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.

	Three months ended June 30,					Six months ended June 30,
	2011		2010			2011		2010
Net income available to IPG common stockholders - basic	$	101.7	$	105.3		$	53.6	$	33.8
Adjustments: Effect of dilutive securities
Interest on 4.25% Notes	0.4		0.4			0.7		0.7
Interest on 4.75% Notes	1.0		1.0			0.0		0.0
Preferred stock dividends	2.9		0.0			0.0		0.0
Benefit from preferred stock repurchased 1	0.0		(25.7		)	0.0		(21.7		)
Net income available to IPG common stockholders - diluted	$	106.0	$	81.0		$	54.3	$	12.8
Weighted-average number of common shares outstanding - basic	473.1		473.0			474.6		472.1
Add: Effect of dilutive securities
Restricted stock, stock options and other equity awards	8.8		9.8			8.5		9.3
4.25% Notes	32.5		32.2			32.5		32.2
4.75% Notes	16.3		16.1			0.0		0.0
Preferred stock outstanding	16.2		0.0			0.0		0.0
Preferred stock repurchased	0.0		13.8			0.0		18.0
Weighted-average number of common shares outstanding - diluted	546.9		544.9			515.6		531.6
Earnings per share available to IPG common stockholders - basic	$	0.21	$	0.22		$	0.11	$	0.07
Earnings per share available to IPG common stockholders - diluted	$	0.19	$	0.15		$	0.11	$	0.02

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

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

	Three months ended June 30,		Six months ended June 30,
	2011	2010	2011	2010
4.75% Notes	0.0	0.0	16.3	16.1
Preferred stock outstanding	0.0	16.2	16.2	16.2
Total	0.0	16.2	32.5	32.3
Securities excluded from the diluted earnings per share calculation because the exercise price was greater than the average market price:
Stock options 1	7.7	19.9	7.7	19.9

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