Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
ASSETS:
Cash and cash equivalents	$ 1,097.6	$ 1,502.9
Marketable securities	3.0	6.8
Accounts receivable, net of allowance of $55.7 and $54.2	4,389.7	4,361.0
Expenditures billable to clients	1,518.1	1,594.4
Assets held for sale	203.2	12.1
Other current assets	226.4	215.9
Total current assets	7,438.0	7,693.1
Property and equipment, net	622.0	567.2
Deferred income taxes	220.3	228.4
Goodwill	3,674.4	3,608.5
Other non-current assets	530.5	487.9
TOTAL ASSETS	12,485.2	12,585.1
LIABILITIES:
Accounts payable	6,303.6	6,689.2
Accrued liabilities	794.0	748.4
Short-term borrowings	85.7	132.9
Current portion of long-term debt	323.9	1.9
Liabilities held for sale	198.8	11.9
Total current liabilities	7,706.0	7,584.3
Long-term debt	1,280.7	1,610.3
Deferred compensation	480.7	464.2
Other non-current liabilities	708.3	672.6
TOTAL LIABILITIES	10,175.7	10,331.4
Redeemable noncontrolling interests (see Note 4)	252.8	251.9
STOCKHOLDERS' EQUITY:
Common stock, $0.10 par value, shares authorized: 800.0 shares issued: 2016 – 394.3; 2015 – 404.4 shares outstanding: 2016 – 391.6; 2015 – 401.3	39.4	40.4
Additional paid-in capital	1,199.2	1,404.1
Retained earnings	1,804.3	1,437.6
Accumulated other comprehensive loss, net of tax	(962.5)	(845.6)
Stockholders Equity Subtotal Before Treasury Stock	2,080.4	2,036.5
Less: Treasury stock, at cost: 2016 - 2.7 shares; 2015 - 3.1 shares	(63.3)	(71.0)
Total IPG stockholders' equity	2,017.1	1,965.5
Noncontrolling interests	39.6	36.3
TOTAL STOCKHOLDERS' EQUITY	2,056.7	2,001.8
TOTAL LIABILITIES AND EQUITY	$ 12,485.2	$ 12,585.1

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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- Definition

Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection.