Supplementary Data (Notes)

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Valuation and Qualifying Accounts – Accounts Receivable, Allowance for Expected Credit Losses


	Years ended December 31,
	2023		2022		2021
Balance at beginning of period	$	48.6	$	68.5	$	98.3
Charges to costs and expenses 1	7.2		(5.8)		(14.9)
Adjustments:
(Dispositions)/Acquisitions	(1.7)		(0.9)		(3.2)
Uncollectible accounts written off	(7.8)		(12.8)		(9.8)
Recoveries	0.1		1.9		0.3
Foreign currency translation adjustments	0.0		(2.3)		(2.2)
Balance at end of period	$	46.4	$	48.6	$	68.5

Property and Equipment


	December 31,
	2023		2022
Furniture and equipment	$	632.8	$	640.8
Leasehold improvements	507.0		528.6
Internal-use computer software	585.1		581.4
Land and buildings	136.7		131.4
Gross property and equipment	1,861.6		1,882.2
Less: accumulated depreciation and amortization	(1,224.9)		(1,244.8)
Total property and equipment, net	$	636.7	$	637.4

Total depreciation and amortization expense, which excludes the amortization of acquired intangibles, for property and equipment for the years ended December 31, 2023, 2022 and 2021 was $180.3, $189.3 and $197.6, respectively.

Accrued Liabilities

The following table presents the components of accrued liabilities.


	December 31,
	2023		2022
Salaries, benefits and related expenses	$	507.5	$	554.0
Income taxes payable	56.8		64.7
Interest	40.2		37.3
Office and related expenses	22.3		28.9
Acquisition obligations	2.9		18.7
Restructuring charges	0.6		2.2
Other	75.5		81.3
Total accrued liabilities	$	705.8	$	787.1

Other Income (Expense), Net

Results of operations include certain items that are not directly associated with our revenue-producing operations.


	Years ended December 31,
	2023		2022		2021
Net gains/(losses) on sales of businesses	$	17.9	$	(11.3)	$	(19.4)
Loss on early extinguishment of debt	—		—		(74.0)
Other	(7.7)		10.3		22.7
Total other income (expense), net	$	10.2	$	(1.0)	$	(70.7)

Net gains/(losses) on sales of businesses – During 2023, 2022 and 2021, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of accounts receivable and accounts payable, as held for sale within our MD&E, IA&C, and SC&E 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 $58.7, $(22.4) and $(13.3) for the years ended 2023, 2022 and 2021, respectively, which is classified within the Proceeds from sale of businesses, net of cash sold line in our Consolidated Statements of Cash Flows.

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.

Other – During 2023, the majority of the amounts recognized were primarily related to pension and postretirement costs. During 2022, the majority of the amounts recognized were primarily related to a cash gain from the sale of an equity investment, partially offset by a non-cash loss related to the deconsolidation of a previously consolidated entity in which we maintain an equity interest. 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.

Share Repurchase Programs

Supplementary Data

Cash Flow, Supplemental Disclosures

Supplemental Cash Flow Information


	Years ended December 31,
	2023		2022		2021
Cash paid for interest	$	221.6	$	171.1	$	175.9
Changes in operating lease right-of-use assets and lease liabilities 1	(32.4)		55.1		(35.2)
Cash paid for income taxes, net of refunds 2	320.3		255.7		229.1

1For the year ended December 31, 2023, comprised of the impairments of operating lease right-of-use asset of ($1.2) classified in Non-cash restructuring charges, offset by $31.2 net cash outflow, classified in Other non-current assets and liabilities in our Consolidated Statements of Cash Flows. For the year ended December 31, 2022, comprised of the impairments of operating lease right-of-use asset of $85.4, classified in Non-cash restructuring charges, offset by $30.3 net cash outflow, classified in Other non-current assets and liabilities in our Consolidated Statements of Cash Flows. For the year ended December 31, 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.

2Refunds of $40.1, $35.7 and $47.1 were received for the years ended December 31, 2023, 2022 and 2021, respectively.