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Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
REVENUE:        
Net revenue $ 2,309.0 $ 2,296.2 $ 6,814.4 $ 6,898.9
Billable expenses 369.5 341.5 1,051.6 1,043.0
Total revenue 2,678.5 2,637.7 7,866.0 7,941.9
OPERATING EXPENSES:        
Salaries and related expenses 1,531.1 1,546.8 4,707.0 4,701.4
Office and other direct expenses 318.8 327.9 989.6 1,001.1
Billable expenses 369.5 341.5 1,051.6 1,043.0
Cost of services 2,219.4 2,216.2 6,748.2 6,745.5
Selling, general and administrative expenses 16.9 18.5 43.7 57.2
Depreciation and amortization 66.0 67.0 199.0 201.9
Restructuring charges (0.6) (5.8) (0.7) 0.7
Total operating expenses 2,301.7 2,295.9 6,990.2 7,005.3
OPERATING INCOME 376.8 341.8 875.8 936.6
EXPENSES AND OTHER INCOME:        
Interest expense (58.7) (42.6) (164.2) (121.2)
Interest income 35.1 14.7 97.3 33.9
Other (Expense) Income, Net (13.7) 17.5 (24.8) 6.8
Total (expenses) and other income (37.3) (10.4) (91.7) (80.5)
Income before income taxes 339.5 331.4 784.1 856.1
Provision for income taxes 91.5 76.4 135.9 209.2
Income of consolidated companies 248.0 255.0 648.2 646.9
Equity in net (loss) income of unconsolidated affiliates (2.3) 2.5 (1.7) 3.3
NET INCOME 245.7 257.5 646.5 650.2
Net income attributable to noncontrolling interests (2.0) (5.7) (11.3) (9.4)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS $ 243.7 $ 251.8 $ 635.2 $ 640.8
Earnings per share, Basic $ 0.64 $ 0.64 $ 1.65 $ 1.63
Earnings per share, Diluted $ 0.63 $ 0.64 $ 1.64 $ 1.62
Weighted-average number of common shares outstanding, Basic 383.6 390.6 385.0 392.7
Weighted-average number of common shares outstanding, Diluted 385.5 394.1 386.8 396.2