Revenue (Notes)

6 Months Ended

Jun. 30, 2019

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

We have two reportable segments as of June 30, 2019: IAN and CMG, as further discussed in Note 13. IAN principally generates revenue from providing advertising and media services as well as a comprehensive array of global communications and marketing services. CMG generates revenue from providing events and public relations services as well as sports and entertainment marketing, corporate and brand identity, and strategic marketing consulting.

Our agencies are located in over 110 countries, including every significant world market. Our geographic revenue breakdown is listed below.



	Three months ended June 30,				Six months ended June 30,
Total revenue:	2019		2018		2019		2018
United States	$	1,595.1	$	1,445.7	$	3,130.2	$	2,796.4
International:
United Kingdom	209.8		201.6		416.0		406.0
Continental Europe	209.4		205.1		388.2		386.8
Asia Pacific	258.2		304.2		490.6		535.7
Latin America	101.8		92.5		191.1		172.5
Other	145.9		142.7		265.3		263.5
Total International	925.1		946.1		1,751.2		1,764.5
Total Consolidated	$	2,520.2	$	2,391.8	$	4,881.4	$	4,560.9



	Three months ended June 30,				Six months ended June 30,
Net revenue:	2019		2018		2019		2018
United States	$	1,337.7	$	1,171.5	$	2,651.8	$	2,263.8
International:
United Kingdom	180.4		175.7		350.7		339.2
Continental Europe	183.3		178.7		340.1		337.4
Asia Pacific	205.1		214.2		383.1		393.0
Latin America	92.1		82.0		172.4		155.9
Other	127.3		126.1		232.6		232.9
Total International	788.2		776.7		1,478.9		1,458.4
Total Consolidated	$	2,125.9	$	1,948.2	$	4,130.7	$	3,722.2



IAN	Three months ended June 30,				Six months ended June 30,
Total revenue:	2019		2018		2019		2018
United States	$	1,215.8	$	1,063.2	$	2,425.9	$	2,086.4
International	752.8		749.3		1,414.9		1,411.6
Total IAN	$	1,968.6	$	1,812.5	$	3,840.8	$	3,498.0

Net revenue:
United States	$	1,131.7	$	963.3	$	2,251.0	$	1,861.3
International	674.1		665.8		1,266.0		1,249.1
Total IAN	$	1,805.8	$	1,629.1	$	3,517.0	$	3,110.4



CMG	Three months ended June 30,				Six months ended June 30,
Total revenue:	2019		2018		2019		2018
United States	$	379.3	$	382.5	$	704.3	$	710.0
International	172.3		196.8		336.3		352.9
Total CMG	$	551.6	$	579.3	$	1,040.6	$	1,062.9

Net revenue:
United States	$	206.0	$	208.2	$	400.8	$	402.5
International	114.1		110.9		212.9		209.3
Total CMG	$	320.1	$	319.1	$	613.7	$	611.8

Contract Balances

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.



	June 30, 2019		December 31, 2018
Accounts receivable, net of allowance of $43.6 and $42.5, respectively	$	4,389.5	$	5,126.6
Accounts receivable, billable to clients	1,977.6		1,900.6
Contract assets	51.2		67.9
Contract liabilities (deferred revenue)	585.2		533.9

Contract assets are primarily comprised of contract incentives that are generally satisfied annually under the terms of our contracts and are transferred to accounts receivable when the right to payment becomes unconditional. Contract liabilities relate to advance consideration received from customers under the terms of our contracts primarily related to reimbursements of third-party expenses, whether we act as principal or agent, and to a lesser extent, periodic retainer fees, both of which are generally recognized shortly after billing.

The majority of our contracts are for periods of one year or less. For those contracts with a term of more than one year, we had approximately $756.0 of unsatisfied performance obligations as of June 30, 2019, which will be recognized as services are performed over the remaining contractual terms.