XML 33 R12.htm IDEA: XBRL DOCUMENT v3.8.0.1
Supplementary Data (Notes)
 12 Months Ended
Dec. 31, 2017
Supplementary Data [Abstract]  
Supplementary Data
Supplementary Data
Valuation and Qualifying Accounts – Allowance for Uncollectible Accounts Receivable
 
Years ended December 31,
 
2017
 
2016
 
2015
Balance at beginning of period
$
55.7

 
$
54.2

 
$
59.5

Charges to costs and expenses
9.5

 
16.7

 
11.4

Deductions:
 
 
 
 
 
Dispositions
(1.0
)
 
(2.5
)
 
(2.8
)
Uncollectible accounts written off
(25.5
)
 
(9.4
)
 
(9.8
)
Foreign currency translation adjustments
4.0

 
(3.3
)
 
(4.1
)
Balance at end of period
$
42.7

 
$
55.7

 
$
54.2

Property and Equipment
 
 
December 31,
 
 
2017
 
2016
Furniture and equipment
 
$
634.8

 
$
604.2

Leasehold improvements
 
641.5

 
599.8

Internal-use computer software
 
331.3

 
306.5

Land and buildings
 
79.0

 
73.1

Gross property and equipment
 
1,686.6

 
1,583.6

Less: accumulated depreciation
 
(1,036.2
)
 
(961.6
)
Total property and equipment, net
 
$
650.4

 
$
622.0


Total depreciation and amortization expense for property and equipment for the years ended December 31, 2017, 2016 and 2015 was $135.9, $138.3 and $130.9, respectively.
Accrued Liabilities
The following table presents the components of accrued liabilities.
 
December 31,
 
2017
 
2016
Salaries, benefits and related expenses
$
441.7

 
$
499.0

Office and related expenses
53.2

 
46.7

Acquisition obligations
42.0

 
77.5

Interest
16.4

 
17.3

Other
121.4

 
153.5

Total accrued liabilities
$
674.7

 
$
794.0

Other Expense, net
Results of operations include certain items that are not directly associated with our revenue-producing operations.
 
Years ended December 31,
 
2017
 
2016
 
2015
Net losses on sales of businesses
$
(24.1
)
 
$
(41.4
)
 
$
(50.0
)
Other
(2.1
)
 
1.1

 
0.4

Total other expense, net
$
(26.2
)
 
$
(40.3
)
 
$
(49.6
)

Net losses on sales of businesses – During 2017, the amounts recognized were primarily related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, accounts receivable and accounts payable, as held for sale within our IAN operating segment. The businesses held for sale as of year end primarily represent unprofitable, non-strategic agencies which are expected to be sold within the next twelve months. During 2016, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of accounts receivable and accounts payable, as held for sale within both our IAN and CMG operating segments. During 2015, the amounts recognized were related to sales of businesses within both our IAN and CMG operating segments and the classification of certain assets and liabilities, consisting primarily of accounts receivable and accounts payable, as held for sale within our IAN operating segment.
Share Repurchase Program
In February 2017, our Board of Directors (the "Board") authorized a new share repurchase program to repurchase from time to time up to $300.0, excluding fees, of our common stock (the "2017 Share Repurchase Program"), which was in addition to the remaining amount available to be repurchased from the $300.0 authorization made by the Board in February 2016 (the "2016 Share Repurchase Program").
We may effect such repurchases through open market purchases, trading plans established in accordance with U.S. Securities and Exchange Commission ("SEC") rules, derivative transactions or other means. We expect to continue to repurchase our common stock in future periods, although the timing and amount of the repurchases will depend on market conditions and other funding requirements.
The following table presents our share repurchase activity under our share repurchase programs.
 
Years ended December 31,
 
2017
 
2016
 
2015
Number of shares repurchased
13.7

 
13.3

 
13.6

Aggregate cost, including fees
$
300.1

 
$
303.3

 
$
285.2

Average price per share, including fees
$
21.97

 
$
22.76

 
$
20.97


We fully utilized the 2016 Share Repurchase Program in the third quarter of 2017. As of December 31, 2017, $155.5 remained available for repurchase under the 2017 Share Repurchase Program. The 2017 Share Repurchase Program has no expiration date.
Supplemental Cash Flow Information
 
Years ended December 31,
 
2017
 
2016
 
2015
Cash paid for interest
$
82.3

 
$
78.8

 
$
74.5

Cash paid for income taxes, net of refunds 1
228.4

 
244.1

 
231.9

 
1
Refunds of $31.9, $26.6 and $13.0 were received for the years ended December 31, 2017, 2016 and 2015, respectively.