INTERPUBLIC GROUP OF COMPANIES, INC.

CIK:0000051644|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2025	Sep. 30, 2024	Sep. 30, 2025	Sep. 30, 2024
REVENUE:
Revenue before billable expenses	$ 2,135,600,000	$ 2,242,700,000	$ 6,304,600,000	$ 6,752,700,000
Billable expenses	358,400,000	386,100,000	1,048,800,000	1,082,000,000
Total revenue	2,494,000,000	2,628,800,000	7,353,400,000	7,834,700,000
OPERATING EXPENSES:
Salaries and related expenses	1,370,300,000	1,464,000,000	4,162,900,000	4,594,400,000
Office and other direct expenses	304,500,000	327,100,000	948,900,000	1,007,600,000
Billable expenses	358,400,000	386,100,000	1,048,800,000	1,082,000,000
Cost of services	2,033,200,000	2,177,200,000	6,160,600,000	6,684,000,000
Selling, general and administrative expenses	50,300,000	20,800,000	137,100,000	86,400,000
Depreciation and amortization	62,000,000.0	65,300,000	184,200,000	195,500,000
Goodwill, Impairment Loss	0.0	232,100,000	0	232,100,000
Restructuring charges	129,500,000	500,000	450,800,000	1,400,000
Total operating expenses	2,275,000,000	2,495,900,000	6,932,700,000	7,199,400,000
OPERATING INCOME	219,000,000.0	132,900,000	420,700,000	635,300,000
EXPENSES AND OTHER INCOME:
Interest expense	(48,900,000)	(54,900,000)	(149,500,000)	(175,600,000)
Interest income	24,300,000	34,200,000	85,100,000	119,500,000
Other expense, net	(5,700,000)	(2,700,000)	(44,000,000.0)	(13,400,000)
Total (expenses) and other income	(30,300,000)	(23,400,000)	(108,400,000)	(69,500,000)
INCOME BEFORE INCOME TAXES	188,700,000	109,500,000	312,300,000	565,800,000
Provision for income taxes	58,700,000	85,300,000	104,100,000	208,200,000
INCOME OF CONSOLIDATED COMPANIES	130,000,000.0	24,200,000	208,200,000	357,600,000
Equity in net loss of unconsolidated affiliates	(2,900,000)	0.0	(2,800,000)	(200,000)
NET INCOME	127,100,000	24,200,000	205,400,000	357,400,000
Net income attributable to non-controlling interests	(2,900,000)	(4,100,000)	(4,100,000)	(12,400,000)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS	$ 124,200,000	$ 20,100,000	$ 201,300,000	$ 345,000,000.0
Earnings per share available to IPG common stockholders:
Basic (in dollars per share)	$ 0.34	$ 0.05	$ 0.55	$ 0.92
Diluted (in dollars per share)	$ 0.34	$ 0.05	$ 0.54	$ 0.91
Weighted-average number of common shares outstanding:
Basic (in shares)	365.0	373.9	368.4	376.2
Diluted (in shares)	368.0	376.8	370.9	378.7

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Sep. 30, 2025	Sep. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 205,400,000	$ 357,400,000
Adjustments to reconcile net income to net cash used in operating activities:
Deferred income tax	(101,300,000)	(24,900,000)
Net amortization of bond discounts and deferred financing costs	300,000	900,000
Goodwill, Impairment Loss	0	232,100,000
Provision for uncollectible receivables	6,900,000	8,400,000
Amortization of restricted stock and other non-cash compensation	45,500,000	52,400,000
Net losses on sales of businesses	30,000,000.0	6,400,000
Depreciation and amortization	184,200,000	195,500,000
Restructuring charges	179,800,000	1,400,000
Other	33,500,000	33,500,000
Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash:
Accounts receivable	852,600,000	958,900,000
Accounts receivable, billable to clients	13,100,000	(19,500,000)
Prepaid expenses	(70,000,000.0)	(58,700,000)
Other current assets	(3,700,000)	22,500,000
Accounts payable	(1,329,000,000)	(1,223,700,000)
Accrued liabilities	(9,400,000)	(183,600,000)
Contract liabilities	93,600,000	(115,000,000.0)
Other non-current assets and liabilities	(84,400,000)	(56,900,000)
Net cash provided by operating activities	47,100,000	187,100,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions, net of cash acquired	(48,400,000)	0
Capital expenditures	(73,800,000)	(107,200,000)
Net proceeds from investments	0	2,300,000
Net proceeds from sale of businesses, net of cash sold	8,100,000	(31,400,000)
Other investing activities	8,300,000	4,500,000
Net cash used in investing activities	(105,800,000)	(131,800,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Common stock dividends	(366,600,000)	(373,700,000)
Repurchases of common stock	(257,400,000)	(230,100,000)
Distributions to non-controlling interests	(28,000,000.0)	(13,700,000)
Tax payments for employee shares withheld	(16,100,000)	(13,900,000)
Acquisition-related payments	(21,500,000)	(8,700,000)
Repayment of long-term debt	(100,000)	(250,100,000)
Net increase (decrease) in short-term borrowings	15,400,000	(5,700,000)
Other financing activities	200,000	(1,700,000)
Net cash used in financing activities	(674,100,000)	(897,600,000)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	77,100,000	(11,100,000)
Net decrease in cash, cash equivalents and restricted cash	(655,700,000)	(853,400,000)
Cash, cash equivalents and restricted cash at beginning of period	2,196,400,000	2,395,100,000
Cash, cash equivalents and restricted cash at end of period	$ 1,540,700,000	$ 1,541,700,000

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2025	Dec. 31, 2024
ASSETS:
Cash and cash equivalents	$ 1,531.2	$ 2,187.1
Accounts receivable, net of allowance of $39.7 and $37.0, respectively	4,946.4	5,649.7
Accounts receivable, billable to clients	2,073.6	2,088.4
Prepaid expenses	587.0	552.4
Assets held for sale	196.0	51.4
Other current assets	77.1	77.0
Total current assets	9,411.3	10,606.0
Property and equipment, net of accumulated depreciation and amortization of $1,309.8 and $1,258.1, respectively	502.7	566.8
Deferred income taxes	299.2	249.2
Goodwill	4,750.4	4,689.4
Other intangible assets	615.0	659.9
Operating lease right-of-use assets	831.1	1,037.8
Other non-current assets	555.6	516.7
TOTAL ASSETS	16,965.3	18,325.8
LIABILITIES:
Accounts payable	7,108.5	8,286.1
Accrued liabilities	615.5	661.6
Contract liabilities	595.7	509.0
Short-term borrowings	56.8	40.5
Current portion of long-term debt	0.1	0.1
Current portion of operating leases	246.0	237.2
Liabilities held for sale	121.3	23.5
Total current liabilities	8,743.9	9,758.0
Long-term debt	2,923.0	2,920.5
Non-current operating leases	919.0	1,056.3
Deferred compensation	186.1	202.3
Other non-current liabilities	481.3	478.6
TOTAL LIABILITIES	13,253.3	14,415.7
Redeemable non-controlling interests (see Note 6)	17.0	45.6
STOCKHOLDERS’ EQUITY:
Common stock	37.4	37.2
Additional paid-in capital	478.1	432.6
Retained earnings	4,294.7	4,440.2
Accumulated other comprehensive loss, net of tax	(893.9)	(1,112.6)
Stockholders' equity before treasury stock	3,916.3	3,797.4
Less: Treasury stock	259.5	0.0
Total IPG stockholders’ equity	3,656.8	3,797.4
Non-controlling interests	38.2	67.1
TOTAL STOCKHOLDERS’ EQUITY	3,695.0	3,864.5
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 16,965.3	$ 18,325.8