
	June 30, 2025		December 31, 2024
Salaries, benefits and related expenses	$	335.3	$	432.1
Interest	37.0		37.5
Income taxes payable	23.5		80.3
Office and related expenses	16.4		18.7
Acquisition obligations	0.3		5.3
Restructuring charges	72.2		0.4
Other	95.3		87.3
Total accrued liabilities	$	580.0	$	661.6

Results of operations for the three and six months ended June 30, 2025 and 2024 include certain items that are not directly associated with our revenue-producing operations.


	Three months ended June 30,				Six months ended June 30,
	2025		2024		2025		2024
Net gains/(losses) on sales of businesses	$	1.9	$	2.1	$	(34.5)	$	(4.7)
Other	(3.3)		(3.3)		(3.8)		(6.0)
Total other expense, net	$	(1.4)	$	(1.2)	$	(38.3)	$	(10.7)

Net gains/(losses) on sales of businesses – During the three and six months ended June 30, 2024, 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. During the three and six months ended June 30, 2025, the amounts recognized were primarily related to the sales of two digital specialist agencies within our MD&E segment, which closed in the fourth quarter of 2024 and the first quarter of 2025.

Other – During the three and six months ended June 30, 2024, and three months ended June 30, 2025, the amounts recognized were primarily related to pension and post-retirement costs. During the six months ended June 30, 2025, the amounts recognized were primarily related to pension and post-retirement costs, partially offset by changes in the fair market value of equity investments.

On February 7, 2024, the Board authorized a share repurchase program to repurchase from time to time up to $320.0, excluding fees, of our common stock, which was in addition to any amounts remaining under the 2023 share repurchase program.

On February 11, 2025, the Board authorized a share repurchase program to repurchase from time to time up to $155.0, excluding fees, of our common stock, which was in addition to any amounts remaining under the 2024 share repurchase program.

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. The timing and amount of repurchases in future periods will depend on market conditions and other funding requirements.

The following table presents our share repurchase activity under our share repurchase programs for the six months ended June 30, 2025 and 2024.


	Six months ended June 30,
	2025		2024
Number of shares repurchased	7.4		4.1
Aggregate cost, including fees1	$	188.3	$	130.1
Average price per share, including fees	$	25.29	$	31.77

1The amount for the six months ended June 30, 2025 and 2024 excludes $1.5 and $1.0 of estimated excise tax on net share repurchases, respectively.

We fully utilized the 2023 and 2024 share repurchase programs during the second quarter of 2024 and 2025, respectively. As of June 30, 2025, $137.1, excluding fees, remains available for repurchase under the 2025 share repurchase program. There is no expiration date associated with the share repurchase program.

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.


	Six months ended June 30,
	2025		2024
Balance at beginning of period	$	45.6	$	42.3
Change in related non-controlling interests balance	(2.1)		0.4
Changes in redemption value of redeemable non-controlling interests:
Additions	8.6		2.7
Redemptions and other	(9.7)		(6.1)
Redemption value adjustments	(23.0)		3.6
Currency translation adjustments	0.6		(0.1)
Balance at end of period	$	20.0	$	42.8

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, 2025 and April 1, 2025, respectively. The agency transfers that occurred as of April 1, 2025 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.


	MD&E		IA&C		SC&E		Total
Balance at December 31, 20241	$	2,332.8	$	1,681.8	$	674.8	$	4,689.4
Goodwill Reallocation	(3.4)		3.4		—		—
Acquisitions2	41.9		—		—		41.9
Foreign currency and other	25.7		32.2		8.9		66.8
Balance at June 30, 20251	$	2,397.0	$	1,717.4	$	683.7	$	4,798.1

1 The goodwill balances at December 31, 2024 and June 30, 2025 include $207.2 of accumulated impairment within the MD&E reportable segment.

2 The amount for the six months ended June 30, 2025 is due to the acquisition of an e-commerce, intelligence platform, for which we paid $48.4, net of cash acquired.