Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2013

Schedule of Earnings Per Share, Basic and Diluted

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



	Three months ended September 30,				Nine months ended September 30,
	2013		2012		2013		2012
Net income available to IPG common stockholders - basic	$	45.4	$	68.7	$	66.1	$	121.8
Adjustments: Effect of dilutive securities
Interest on 4.75% Notes ¹	0.0		1.0		0.0		3.1
Interest on 4.25% Notes ¹	0.0		0.0		0.0		0.3
Net income available to IPG common stockholders - diluted	$	45.4	$	69.7	$	66.1	$	125.2


Weighted-average number of common shares outstanding - basic	419.7		431.3		419.7		435.5
Add: Effect of dilutive securities
Restricted stock, stock options and other equity awards	6.4		8.1		5.1		7.1
4.75% Notes ¹	0.0		16.7		0.0		16.7
4.25% Notes ¹	0.0		0.0		0.0		10.4
Weighted-average number of common shares outstanding - diluted	426.1		456.1		424.8		469.7


Earnings per share available to IPG common stockholders - basic	$	0.11	$	0.16	$	0.16	$	0.28
Earnings per share available to IPG common stockholders - diluted	$	0.11	$	0.15	$	0.16	$	0.27


¹	We retired all of our outstanding 4.75% Notes and 4.25% Convertible Senior Notes due 2023 (the “4.25% Notes”) in March 2013 and March 2012, respectively. See Note 2 for further information on our 4.75% Notes. For purposes of calculating diluted earnings per share, the potentially dilutive shares are pro-rated based on the period they were outstanding.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

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 September 30,		Nine months ended September 30,
	2013	2012	2013	2012
4.75% Notes¹	0.0	0.0	4.4	0.0
Preferred stock outstanding	17.3	16.9	17.3	16.9
Total	17.3	16.9	21.7	16.9

Securities excluded from the diluted earnings per share calculation because the exercise price was greater than the average market price:
Stock options ²	0.0	7.1	0.2	7.1


¹	We retired all of our outstanding 4.75% Notes in March 2013. See Note 2 for further information on our 4.75% Notes. For purposes of calculating diluted earnings per share, the potentially dilutive shares are pro-rated based on the period they were outstanding.


²	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.