Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2014

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 June 30,				Six months ended June 30,
	2014		2013		2014		2013
Net income available to IPG common stockholders - basic	$	99.4	$	79.9	$	78.5	$	20.7
Adjustments: Effect of dilutive securities
Preferred stock dividends¹	0.0		2.9		0.0		0.0
Net income available to IPG common stockholders - diluted	$	99.4	$	82.8	$	78.5	$	20.7




Weighted-average number of common shares outstanding - basic	421.1	425.1	421.9	419.7
Add: Effect of dilutive securities
Restricted stock, stock options and other equity awards	7.0	6.1	6.6	5.4
Preferred stock outstanding¹	0.0	17.1	0.0	0.0
Weighted-average number of common shares outstanding - diluted	428.1	448.3	428.5	425.1




Earnings per share available to IPG common stockholders - basic	$	0.24	$	0.19	$	0.19	$	0.05
Earnings per share available to IPG common stockholders - diluted	$	0.23	$	0.18	$	0.18	$	0.05


¹	We converted all of our 5 1/4% Series B Cumulative Convertible Perpetual Preferred Stock (the "Series B Preferred Stock") into common stock in October 2013.

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 June 30,		Six months ended June 30,
	2014	2013	2014	2013
4.75% Notes ¹	0.0	0.0	0.0	6.6
Preferred stock ²	0.0	0.0	0.0	17.1
Total	0.0	0.0	0.0	23.7

Securities excluded from the diluted earnings per share calculation because the exercise price was greater than the average market price:
Stock options ³	0.0	0.2	0.0	1.3


¹	We retired all of our outstanding 4.75% Convertible Senior Notes due 2023 (the "4.75% Notes") in March 2013. For purposes of calculating diluted earnings per share, the potentially dilutive shares are pro-rated based on the period they were outstanding but were antidilutive.


²	We converted all of our Series B Preferred Stock into common stock in October 2013.


³	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.