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Supplementary Data (Notes)
6 Months Ended
Jun. 30, 2024
Supplementary Data [Abstract]  
Accrued Liabilities
Accrued Liabilities
The following table presents the components of accrued liabilities.
June 30,
2024
December 31,
2023
Salaries, benefits and related expenses$344.3 $507.5 
Interest36.7 40.2 
Income taxes payable10.4 56.8 
Office and related expenses18.7 22.3 
Acquisition obligations7.6 2.9 
Restructuring charges0.3 0.6 
Other70.1 75.5 
Total accrued liabilities$488.1 $705.8 
Other Income, Net
Other Expense, Net
Results of operations for the three and six months ended June 30, 2024 and 2023 include certain items that are not directly associated with our revenue-producing operations.
 Three months ended
June 30,
Six months ended
June 30,
 2024202320242023
Net gains/(losses) on sales of businesses$2.1 $(2.6)$(4.7)$(6.8)
Other(3.3)(1.8)(6.0)(4.3)
Total other expense, net$(1.2)$(4.4)$(10.7)$(11.1)
Net gains/(losses) on sales of businesses – During the three and six months ended June 30, 2024 and 2023, 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 IA&C and SC&E reportable segments. The businesses sold and held for sale primarily represent unprofitable, non-strategic agencies which are expected to be sold within the next twelve months.
Other – During the three and six months ended June 30, 2024 and 2023, the amounts recognized were primarily related to pension and postretirement costs.
Share Repurchase Program
Share Repurchase Programs
On February 8, 2023, the Board of Directors (the "Board") authorized a share repurchase program to repurchase from time to time up to $350.0, excluding fees, of our common stock, which was in addition to any amounts remaining under the 2022 share repurchase program.
Redeemable Noncontrolling Interest [Table Text Block]
Redeemable Non-controlling Interests
Many of our acquisitions include provisions under which the non-controlling equity owners may require us to purchase additional interests in a subsidiary at their discretion. Redeemable non-controlling interests are adjusted quarterly, if necessary, to their estimated redemption value, but not less than their initial fair value. Any adjustments to the redemption value impact retained earnings or additional paid in capital, except for foreign currency translation adjustments.
The following table presents changes in our redeemable non-controlling interests.
Six months ended
June 30,
20242023
Balance at beginning of period$42.3 $38.3 
Change in related non-controlling interests balance0.4 (0.1)
Changes in redemption value of redeemable non-controlling interests:
Additions2.7 7.4 
Redemptions and other
(6.1)(0.4)
Redemption value adjustments3.6 — 
    Currency translation adjustments    
(0.1)0.3 
Balance at end of period$42.8 $45.5 
Goodwill Disclosure
Goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values.
The Company transferred certain agencies between operating segments as of January 1, 2024 which resulted in certain changes to our reporting units and reportable segments. We have allocated goodwill to our reporting units using a relative fair value approach. In addition, we completed an assessment of any potential goodwill impairment for all impacted reporting units immediately prior and subsequent to the reallocation and determined that no impairment existed.
The following table sets forth details of changes in goodwill by reportable segment of the Company: