XML 43 R22.htm IDEA: XBRL DOCUMENT v3.8.0.1
Results by Quarter (Unaudited) (Notes)
 12 Months Ended
Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Financial Information
Results by Quarter (Unaudited) 
 
Three Months Ended
March 31,
 
Three Months Ended
June 30,
 
Three Months Ended
September 30,
 
Three Months Ended
December 31,
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
 
2017
 
2016
Revenue
$
1,753.9

 
$
1,742.0

 
$
1,884.9

 
$
1,917.9

 
$
1,902.6

 
$
1,922.2

 
$
2,341.0

 
$
2,264.5

Salaries and related expenses 1
1,275.4

 
1,268.8

 
1,239.3

 
1,229.5

 
1,227.6

 
1,228.0

 
1,325.8

 
1,308.8

Office and general expenses
448.8

 
450.2

 
439.1

 
464.1

 
455.9

 
486.2

 
496.9

 
470.0

Operating income
29.7

 
23.0

 
206.5

 
224.3

 
219.1

 
208.0

 
518.3

 
485.7

Other income (expense), net 1,2
0.8

 
(19.2
)
 
(15.4
)
 
0.4

 
(9.9
)
 
5.3

 
(1.7
)
 
(26.8
)
Total (expenses) and other income
(14.9
)
 
(36.0
)
 
(36.4
)
 
(18.5
)
 
(26.8
)
 
(11.7
)
 
(19.5
)
 
(44.6
)
(Benefit of) provision for income taxes 3
(2.1
)
 
(15.6
)
 
75.4

 
43.7

 
42.5

 
63.8

 
166.1

 
106.1

Net income
18.1

 
2.7

 
94.6

 
160.2

 
148.8

 
132.7

 
333.5

 
336.9

Net income available to IPG common stockholders
$
21.5

 
$
5.4

 
$
94.7

 
$
156.9

 
$
146.2

 
$
128.6

 
$
316.6

 
$
317.6

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Earnings per share available to IPG common stockholders:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic
$
0.05

 
$
0.01

 
$
0.24

 
$
0.39

 
$
0.38

 
$
0.32

 
$
0.82

 
$
0.81

Diluted
$
0.05

 
$
0.01

 
$
0.24

 
$
0.38

 
$
0.37

 
$
0.32

 
$
0.81

 
$
0.78

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends declared per common share
$
0.18

 
$
0.15

 
$
0.18

 
$
0.15

 
$
0.18

 
$
0.15

 
$
0.18

 
$
0.15


 
1
As part of the adoption of FASB ASU 2017-07, we have reclassified a portion of postretirement costs from salaries and related expenses to other income (expense), net.
2
The three months ended June 30 and September 30, 2017 included pre-tax net losses of $13.1 and $8.7, respectively, on sales of businesses. The three months ended March 31 and December 31, 2016 included pre-tax net losses of $16.3 and $25.3, respectively, on sales of businesses.
3
The three months ended September 30, 2017 included a tax benefit of $31.2 related to foreign tax credits from distributions of unremitted earnings, which was reversed during the three months ended December 31, 2017 as a result of the enactment of the Tax Cuts and Jobs Act. The three months ended December 31, 2017 included a net tax benefit of $36.0 as a result of the enactment of the Tax Cuts and Jobs Act. The three months ended March 31, 2016 included a tax benefit of $12.2 due to the reversal of valuation allowances. The three months ended June 30, 2016 included a tax benefit of $23.4 related to the conclusion and settlement of a tax examination of previous years. The three months ended December 31, 2016 included a tax benefit of $37.4 for refunds to be claimed on future amended U.S. federal returns.