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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUE:        
Net revenue $ 2,328.5 $ 2,375.5 $ 4,505.4 $ 4,602.7
Billable expenses 338.0 360.2 682.1 701.5
Total revenue 2,666.5 2,735.7 5,187.5 5,304.2
OPERATING EXPENSES:        
Salaries and related expenses 1,598.6 1,590.2 3,175.9 3,154.6
Office and other direct expenses 340.5 349.8 670.8 673.2
Billable expenses 338.0 360.2 682.1 701.5
Cost of services 2,277.1 2,300.2 4,528.8 4,529.3
Selling, general and administrative expenses 13.9 19.4 26.8 38.7
Depreciation and amortization 66.5 67.1 133.0 134.9
Restructuring charges (1.7) (0.1) (0.1) 6.5
Total operating expenses 2,355.8 2,386.6 4,688.5 4,709.4
OPERATING INCOME 310.7 349.1 499.0 594.8
EXPENSES AND OTHER INCOME:        
Interest expense (63.2) (41.0) (119.0) (80.4)
Interest income 35.5 11.2 75.7 21.0
Other Expense, Net (4.4) (4.5) (11.1) (10.7)
Total (expenses) and other income (32.1) (34.3) (54.4) (70.1)
Income before income taxes 278.6 314.8 444.6 524.7
Provision for income taxes 10.6 83.7 44.4 132.8
Income of consolidated companies 268.0 231.1 400.2 391.9
Equity in net income of unconsolidated affiliates 0.7 0.7 0.6 0.8
NET INCOME 268.7 231.8 400.8 392.7
Net income attributable to noncontrolling interests (3.2) (2.2) (9.3) (3.7)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS $ 265.5 $ 229.6 $ 391.5 $ 389.0
Earnings per share, Basic $ 0.69 $ 0.58 $ 1.01 $ 0.99
Earnings per share, Diluted $ 0.68 $ 0.58 $ 1.01 $ 0.98
Weighted-average number of common shares outstanding, Basic 385.7 393.1 385.8 393.8
Weighted-average number of common shares outstanding, Diluted 387.7 396.8 387.6 397.5