XML 34 R20.htm IDEA: XBRL DOCUMENT v3.22.0.1
Supplementary Data (Notes)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Supplementary Data [Abstract]    
Supplementary Data
Valuation and Qualifying Accounts – Accounts Receivable, Allowance for Expected Credit Losses
 Years ended December 31,
 202120202019
Balance at beginning of period$98.3 $40.2 $42.5 
Cumulative effect of accounting change 1
0.0 9.0 N/A
Charges to costs and expenses 2
(14.9)50.5 10.1 
Adjustments:
(Dispositions)/Acquisitions(3.2)8.6 (0.3)
Uncollectible accounts written off(9.8)(11.2)(11.9)
Recoveries0.3 0.2 N/A
Foreign currency translation adjustments(2.2)1.0 (0.2)
Balance at end of period$68.5 $98.3 $40.2 
Property and Equipment
 December 31,
 20212020
Furniture and equipment$653.5 $654.6 
Leasehold improvements571.3 554.6 
Internal-use computer software513.5 470.1 
Land and buildings139.1 144.9 
Gross property and equipment1,877.4 1,824.2 
Less: accumulated depreciation and amortization(1,201.6)(1,133.9)
Total property and equipment, net$675.8 $690.3 
Total depreciation and amortization expense, which excludes the amortization of acquired intangibles, for property and equipment for the years ended December 31, 2021, 2020 and 2019 was $197.6, $204.7 and $192.5, respectively.
Accrued Liabilities
The following table presents the components of accrued liabilities.
December 31,
20212020
Salaries, benefits and related expenses$685.4 $504.6 
Income taxes payable42.8 50.6 
Interest39.0 43.6 
Office and related expenses30.5 25.5 
Acquisition obligations15.4 47.9 
Restructuring charges8.1 69.5 
Other96.9 90.7 
Total accrued liabilities$918.1 $832.4 
Other Expense, Net
Results of operations include certain items that are not directly associated with our revenue-producing operations.
 Years ended December 31,
 202120202019
Loss on early extinguishment of debt$(74.0)$— $— 
Net losses on sales of businesses
(19.4)(67.0)(43.4)
Other22.7 2.6 0.5 
Total other expense, net$(70.7)$(64.4)$(42.9)
Loss on early extinguishment of debt – During the first quarter of 2021, we recorded a loss of $74.0 related to the early extinguishment of all $250.0 in aggregate principal amount of our 4.000% Senior Notes, all $500.0 in aggregate principal amount of our 3.750% Senior Notes, and $250.0 of the $500.0 in aggregate principal amount of our 4.200% Senior Notes. See Note 4 for further information.
Net losses on sales of businesses – During 2021, 2020 and 2019, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale within our IAN and DXTRA reportable segments. 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. The sales of businesses and the classification of certain assets and liabilities as held for sale included cash, net of proceeds, of $13.3, $62.9 and $6.7 for the years ended 2021, 2020 and 2019, respectively, which is classified within the Other Investing Activities line in our Consolidated Statements of Cash Flows.
Other – During 2021, the majority of the amounts recognized were related to a non-cash gain related to the deconsolidation of a previously consolidated entity in which we maintain an equity interest, and pension and postretirement costs. During 2020, the amounts recognized were primarily a result of gains on remeasurement of equity interest arising from a change in ownership. During 2019, the amounts recognized are primarily a result of changes in fair market value of equity investments, partially offset by the sale of an equity investment.
Share Repurchase Program
On July 2, 2018, in connection with the announcement of the Acxiom acquisition, we announced that share repurchases would be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition. As of December 31, 2021, $338.4, excluding fees, remained available for repurchase under the share repurchase programs authorized in previous years.
On February 10, 2022, our Board of Directors (the "Board") reauthorized a program to repurchase, from time to time, up to $400.0 of our common stock. 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. This authorization has no expiration date.
 Supplementary Data
Cash Flow, Supplemental Disclosures
Supplemental Cash Flow Information
 Years ended December 31,
 202120202019
Cash paid for interest$175.9 $182.2 $192.7 
Changes in operating lease right-of-use assets and lease liabilities 1
(35.2)192.6 9.4 
Cash paid for income taxes, net of refunds 2
229.1 89.1 150.2 
1For the year ended December 31, 2021, comprised of the impairments of operating lease right-of-use asset of $6.3 classified in Non-cash restructuring charges, offset by $41.5 net cash outflow, classified in Other non-current assets and liabilities in our Consolidated Statements of Cash Flows. For the year ended December 31, 2020, comprised of the impairments of operating lease right-of-use asset of $209.9, classified in Non-cash restructuring charges, partially offset by $17.3 net cash outflow, classified in Other non-current assets and liabilities in our Consolidated Statements of Cash Flows. For the year ended December 31, 2019, comprised of the impairments of operating lease right-of-use assets of $8.7, classified in Non-cash restructuring charges and $0.7, classified in Other non-current assets and liabilities in our Consolidated Statements of Cash Flows.
2Refunds of $47.1, $124.2 and $92.6 were received for the years ended December 31, 2021, 2020 and 2019, respectively.