0000051644-20-000056 | 10-Q | XBRL Viewer | Interpublic Group OF Companies INC

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2020	Oct. 15, 2020
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-6686
Entity Registrant Name	INTERPUBLIC GROUP OF COMPANIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1024020
Entity Address, Address Description	909 Third Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
Area Code	(212)
Local Phone Number	704-1200
Title of each class	Common Stock, par value $0.10 per share
Trading Symbol	IPG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000051644
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		390,034,693

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
REVENUE:
Net revenue	$ 1,954.6	$ 2,061.4	$ 5,780.1	$ 6,192.1
Billable expenses	170.9	376.7	730.9	1,127.4
Total revenue	2,125.5	2,438.1	6,511.0	7,319.5
OPERATING EXPENSES:
Salaries and related expenses	1,269.9	1,334.4	3,998.8	4,136.7
Office and other direct expenses	307.9	367.9	1,003.1	1,144.4
Billable expenses	170.9	376.7	730.9	1,127.4
Cost of services	1,748.7	2,079.0	5,732.8	6,408.5
Selling, general and administrative expenses	9.9	9.8	36.4	69.3
Depreciation and amortization	71.0	69.0	216.9	213.1
Restructuring charges	47.3	0.0	159.9	33.9
Total operating expenses	1,876.9	2,157.8	6,146.0	6,724.8
OPERATING INCOME	248.6	280.3	365.0	594.7
EXPENSES AND OTHER INCOME:
Interest expense	(50.8)	(49.7)	(145.4)	(151.1)
Interest income	6.1	9.5	22.7	25.0
Other Nonoperating Income (Expense)	(11.3)	(7.4)	(54.6)	(18.1)
Total (expenses) and other income	(56.0)	(47.6)	(177.3)	(144.2)
Income before income taxes	192.6	232.7	187.7	450.5
Provision for income taxes	(86.3)	64.6	(50.1)	118.7
Income of consolidated companies	278.9	168.1	237.8	331.8
Equity in net income (loss) of unconsolidated affiliates	(0.4)	0.3	(0.6)	(0.1)
NET INCOME	278.5	168.4	237.2	331.7
Net income attributable to noncontrolling interests	1.2	(2.8)	1.6	(4.6)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS	$ 279.7	$ 165.6	$ 238.8	$ 327.1
Earnings per share, Basic	$ 0.72	$ 0.43	$ 0.61	$ 0.85
Earnings per share, Diluted	$ 0.71	$ 0.42	$ 0.61	$ 0.84
Weighted-average number of common shares outstanding, Basic	389.6	386.7	388.9	385.8
Weighted-average number of common shares outstanding, Diluted	393.9	391.8	392.6	390.3

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 278.5	$ 168.4	$ 237.2	$ 331.7
Foreign currency translation:
Foreign currency translation adjustments	46.5	(50.9)	(58.3)	(38.4)
Reclassification adjustments recognized in net income	9.6	(0.6)	9.3	5.2
Foreign currency transaction and translation adjustment, net of tax	56.1	(51.5)	(49.0)	(33.2)
Derivative Instrument:
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	4.5	0.0	3.6	0.0
Recognition of previously unrealized losses in net income	0.6	0.6	1.8	1.8
Income tax effect	(1.3)	(0.2)	(1.4)	(0.4)
Net unrecognized gains on derivative instruments, net of tax	3.8	0.4	4.0	1.4
Defined benefit pension and other postretirement plans:
Net actuarial gains for the period	0.0	0.0	2.2	0.7
Amortization of unrecognized losses, transition obligation and prior service cost included in net income	1.8	1.7	5.5	5.0
Other	0.4	(0.1)	(1.0)	0.2
Income tax effect	(0.4)	(0.2)	(1.6)	(0.4)
Defined benefit pension and other postretirement plans adjustment, net of tax	1.8	1.4	5.1	5.5
Other comprehensive income (loss), net of tax	61.7	(49.7)	(39.9)	(26.3)
TOTAL COMPREHENSIVE INCOME	340.2	118.7	197.3	305.4
Less: comprehensive (loss) income attributable to noncontrolling interests	(0.8)	1.4	(3.7)	3.4
COMPREHENSIVE INCOME ATTRIBUTABLE TO IPG	$ 341.0	$ 117.3	$ 201.0	$ 302.0

Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
ASSETS:
Cash and cash equivalents	$ 1,628.0	$ 1,192.2
Accounts receivable, net of allowance of $90.7 and $40.2, respectively	3,297.4	5,209.2
Accounts receivable, billable to clients	1,817.2	1,934.1
Assets held for sale	20.0	22.8
Other current assets	521.7	412.4
Total current assets	7,284.3	8,770.7
Property and equipment, net of accumulated depreciation and amortization of $1,169.8 and $1,116.4, respectively	709.8	778.1
Deferred Income Tax Assets, Net	291.4	252.1
Goodwill	4,875.4	4,894.4
Other intangible assets	949.3	1,014.3
Operating lease right-of-use asset	1,550.2	1,574.4
Other non-current assets	414.3	467.9
TOTAL ASSETS	16,074.7	17,751.9
LIABILITIES:
Accounts payable	5,105.9	7,205.4
Accrued liabilities	644.7	742.8
Contract liabilities	611.3	585.6
Short-term borrowings	46.3	52.4
Current portion of long-term debt	506.6	502.0
Current portion of operating leases	263.6	267.2
Liabilities held for sale	49.5	65.0
Total current liabilities	7,227.9	9,420.4
Long-term debt	3,411.3	2,771.9
Non-current operating leases	1,471.3	1,429.6
Deferred compensation	388.2	425.0
Other non-current liabilities	662.6	714.7
TOTAL LIABILITIES	13,161.3	14,761.6
Redeemable noncontrolling interests	152.8	164.7
STOCKHOLDERS' EQUITY:
Common stock	38.9	38.7
Additional paid-in capital	1,028.1	977.3
Retained earnings	2,623.4	2,689.9
Accumulated other comprehensive loss, net of tax	(967.8)	(930.0)
Total IPG stockholders' equity	2,722.6	2,775.9
Noncontrolling interests	38.0	49.7
TOTAL STOCKHOLDERS' EQUITY	2,760.6	2,825.6
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	16,074.7	17,751.9
Parentheticals:
Allowance for doubtful accounts receivable	90.7	40.2
Accumulated depreciation, property and equipment	$ 1,169.8	$ 1,116.4

Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 237.2	$ 331.7
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization	216.9	213.1
Non-cash restructuring charges	95.7	11.7
Amortization of restricted stock and other non-cash compensation	56.4	58.3
Net losses on sales of businesses	51.8	19.5
Provision for uncollectible receivables	49.8	7.7
Net amortization of bond discounts and deferred financing costs	8.6	7.0
Deferred income tax	(9.4)	(1.5)
Other	20.7	(1.6)
Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash:
Accounts receivable	1,759.9	1,010.2
Accounts receivable, billable to clients	(83.0)	152.0
Other current assets	(60.7)	(29.5)
Accounts payable	(2,014.7)	(952.7)
Accrued liabilities	(61.3)	(73.5)
Contract liabilities	34.1	37.2
Other non-current assets and liabilities	(142.9)	(62.0)
Net cash provided by operating activities	325.1	423.6
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(112.0)	(133.8)
Acquisitions, net of cash acquired	(2.5)	(0.6)
Other investing activities	(18.0)	13.7
Net cash used in investing activities	(132.5)	(120.7)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from Issuance of Long-term Debt	646.2	0.0
Net increase in short-term borrowings	1.9	173.1
Exercise of stock options	0.0	4.2
Common stock dividends	(298.6)	(272.2)
Acquisition-related payments	(40.6)	(15.3)
Tax payments for employee shares withheld	(22.2)	(22.3)
Distributions to noncontrolling interests	(13.7)	(12.4)
Repayments of Long-term Debt	(0.5)	(300.2)
Other financing activities	(10.2)	0.1
Net cash provided by (used in) financing activities	262.3	(445.0)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(20.3)	(11.1)
Net increase (decrease) in cash, cash equivalents and restricted cash	434.6	(153.2)
Cash, cash equivalents, and restricted cash at beginning of period	1,195.7	677.2
Cash, cash equivalents, and restricted cash at end of period	$ 1,630.3	$ 524.0

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock, Shares	Common Stock, Amount	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss, Net of Tax	Total IPG Stockholders' Equity	Noncontrolling Interests
Common Stock, shares		383.6
Changes related to lease standard update	$ 2.2				$ 2.2		$ 2.2
Balance at Dec. 31, 2018	2,432.8		$ 38.3	$ 895.9	2,400.1	$ (941.1)	2,393.2	$ 39.6
Net income	331.7
Net income available to IPG common stockholders	327.1				327.1		327.1
Net income attributable to noncontrolling interest	4.6							4.6
Other comprehensive income (loss)	(26.3)					(25.1)	(25.1)
Other comprehensive loss, attributable to noncontrolling interest								(1.2)
Reclassifications related to redeemable noncontrolling interests	(2.0)							(2.0)
Distributions to noncontrolling interests	(12.4)							12.4
Change in redemption value of redeemable noncontrolling interests	1.4				1.4		1.4
Common stock dividends	(272.2)				(272.2)		(272.2)
Stock-based compensation, shares		3.7
Stock-based compensation, value	64.7		0.4	64.3			64.7
Exercise of stock options, shares		0.6
Exercise of stock options, value	4.3		0.1	4.2			4.3
Shares withheld for taxes, shares		(1.0)
Shares withheld for taxes, value	(22.5)		0.1	22.4			22.5
Other	2.6			1.0	3.1		4.1	(1.5)
Balance at Sep. 30, 2019	2,503.1		38.7	941.0	2,455.5	(966.2)	2,469.0	34.1
Common Stock, shares		386.4
Balance at Jun. 30, 2019	2,458.4		38.6	921.4	2,381.8	(917.9)	2,423.9	34.5
Net income	168.4
Net income available to IPG common stockholders	165.6				165.6		165.6
Net income attributable to noncontrolling interest	2.8							2.8
Other comprehensive income (loss)	(49.7)					(48.3)	(48.3)
Other comprehensive loss, attributable to noncontrolling interest								(1.4)
Reclassifications related to redeemable noncontrolling interests	(2.4)							(2.4)
Distributions to noncontrolling interests	(4.3)							4.3
Change in redemption value of redeemable noncontrolling interests	0.0				0.0		0.0
Common stock dividends	(90.8)				(90.8)		(90.8)
Stock-based compensation, shares		0.1
Stock-based compensation, value	16.2		0.0	16.2			16.2
Exercise of stock options, shares		0.5
Exercise of stock options, value	3.7		0.1	3.6			3.7
Shares withheld for taxes, shares		(0.1)
Shares withheld for taxes, value	(0.2)		(0.0)	0.2			0.2
Other	1.0			(0.0)	1.1		1.1	(0.1)
Balance at Sep. 30, 2019	2,503.1		38.7	941.0	2,455.5	(966.2)	2,469.0	34.1
Common Stock, shares		386.9
Common Stock, shares		387.0
Changes related to CECL ASU	(6.6)				(6.6)		(6.6)
Balance at Dec. 31, 2019	2,825.6		38.7	977.3	2,689.9	(930.0)	2,775.9	49.7
Net income	237.2
Net income available to IPG common stockholders	238.8				238.8		238.8
Net income attributable to noncontrolling interest	(1.6)							(1.6)
Other comprehensive income (loss)	(39.9)					(37.8)	(37.8)
Other comprehensive loss, attributable to noncontrolling interest								(2.1)
Reclassifications related to redeemable noncontrolling interests	(5.9)							(5.9)
Distributions to noncontrolling interests	(13.7)							13.7
Change in redemption value of redeemable noncontrolling interests	3.1				3.1		3.1
Common stock dividends	(301.8)				(301.8)		(301.8)
Stock-based compensation, shares		3.8
Stock-based compensation, value	64.1		0.4	63.7			64.1
Exercise of stock options, shares		0.0
Exercise of stock options, value	0.5		0.0	0.5			0.5
Shares withheld for taxes, shares		(1.1)
Shares withheld for taxes, value	(22.4)		0.2	22.2			22.4
Other	(8.6)			(8.8)			(8.8)	0.2
Balance at Sep. 30, 2020	2,760.6		38.9	1,028.1	2,623.4	(967.8)	2,722.6	38.0
Common Stock, shares		389.6
Balance at Jun. 30, 2020	2,491.1		38.9	996.3	2,444.3	(1,029.1)	2,450.4	40.7
Net income	278.5
Net income available to IPG common stockholders	279.7				279.7		279.7
Net income attributable to noncontrolling interest	(1.2)							(1.2)
Other comprehensive income (loss)	61.7					61.3	61.3
Other comprehensive loss, attributable to noncontrolling interest								0.4
Reclassifications related to redeemable noncontrolling interests	(2.9)							(2.9)
Distributions to noncontrolling interests	(4.3)							4.3
Change in redemption value of redeemable noncontrolling interests	0.0				0.0		0.0
Common stock dividends	(100.6)				(100.6)		(100.6)
Stock-based compensation, shares		0.2
Stock-based compensation, value	23.1		0.0	23.1			23.1
Exercise of stock options, shares		0.0
Exercise of stock options, value	0.1		0.0	0.1			0.1
Shares withheld for taxes, shares		(0.1)
Shares withheld for taxes, value	(0.2)		(0.0)	0.2			0.2
Other	(8.3)			(8.8)			(8.8)	0.5
Balance at Sep. 30, 2020	$ 2,760.6		$ 38.9	$ 1,028.1	$ 2,623.4	$ (967.8)	$ 2,722.6	$ 38.0
Common Stock, shares		389.7

Basis of Presentation	9 Months Ended
Basis of Presentation	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited Consolidated Financial Statements have been prepared by The Interpublic Group of Companies, Inc. and its subsidiaries (the “Company,” “IPG,” “we,” “us” or “our”) in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting interim financial information on Form 10-Q. Accordingly, they do not include certain information and disclosures required for complete financial statements. The effects of the novel coronavirus ("COVID-19") pandemic have negatively impacted and will likely continue to negatively impact our results of operations, cash flows and financial position. The Company’s Consolidated Financial Statements presented herein reflect the latest estimates and assumptions made by management that affect the reported amounts of assets and liabilities and related disclosures as of the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods presented. The Company believes it has used reasonable estimates and assumptions to assess the fair values of goodwill, long-lived assets and indefinite-lived intangible assets; assessment of the annual effective tax rate; valuation of deferred income taxes and allowance for expected credit losses on future uncollectible accounts receivable. Actual results could differ from these estimates and assumptions. The consolidated results for interim periods are not necessarily indicative of results for the full year and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2019 (the “2019 Annual Report”). Cost of services is comprised of the expenses of our revenue-producing reportable segments, Integrated Agency Networks (“IAN”) and Constituency Management Group (“CMG”), including salaries and related expenses, office and other direct expenses and billable expenses, and includes an allocation of the centrally managed expenses of our Corporate and other group. Office and other direct expenses include rent expense, professional fees, certain expenses incurred by our staff in servicing our clients and other costs directly attributable to client engagements. Selling, general and administrative expenses are primarily the unallocated expenses of our Corporate and other group, excluding depreciation and amortization. Depreciation and amortization of fixed assets and intangible assets of the Company is disclosed as a separate operating expense. Restructuring charges in the current period relate to the Company's implementation of restructuring actions to lower our operating expenses structurally and permanently relative to revenue and to accelerate the transformation of our business, as discussed further in Note 7. Restructuring charges mainly include severance and termination costs and lease impairments costs. Segment information for the prior period has been recast to conform to the current-period presentation. In the opinion of management, these unaudited Consolidated Financial Statements include all adjustments, consisting only of normal and recurring adjustments necessary for a fair statement of the information for each period contained therein. Certain reclassifications and immaterial revisions have been made to prior-period financial statements to conform to the current-period presentation.

Revenue (Notes)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Revenue

Disaggregation of Revenue

We have two reportable segments as of September 30, 2020: IAN and CMG, as further discussed in Note 11. IAN principally generates revenue from providing advertising and media services as well as a comprehensive array of global communications, marketing services and data management. CMG generates revenue from a comprehensive array of global public relations and communication services as well as providing events, sports and entertainment marketing, corporate and brand identity, and strategic marketing consulting.

Our agencies are located in over 100 countries, including every significant world market. Our geographic revenue breakdown is listed below.


	Three months ended September 30,						Nine months ended September 30,
Total revenue:	2020		2019		2020		2019
United States	$	1,354.8	$	1,550.9	$	4,234.0	$	4,681.1
International:
United Kingdom	172.4		201.9		528.8		617.9
Continental Europe	174.5		177.6		508.5		565.8
Asia Pacific	198.1		262.7		609.9		753.3
Latin America	83.2		109.2		235.7		300.3
Other	142.5		135.8		394.1		401.1
Total International	770.7		887.2		2,277.0		2,638.4
Total Consolidated	$	2,125.5	$	2,438.1	$	6,511.0	$	7,319.5


	Three months ended September 30,						Nine months ended September 30,
Net revenue:	2020		2019		2020		2019
United States	$	1,273.4	$	1,313.0	$	3,820.6	$	3,964.8
International:
United Kingdom	162.0		172.1		474.9		522.8
Continental Europe	158.0		155.7		453.7		495.8
Asia Pacific	166.0		205.0		487.4		588.1
Latin America	78.5		97.8		220.1		270.2
Other	116.7		117.8		323.4		350.4
Total International	681.2		748.4		1,959.5		2,227.3
Total Consolidated	$	1,954.6	$	2,061.4	$	5,780.1	$	6,192.1


IAN	Three months ended September 30,						Nine months ended September 30,
Total revenue:	2020		2019		2020		2019
United States	$	1,130.5	$	1,177.8	$	3,402.7	$	3,584.7
International	653.1		718.5		1,872.2		2,133.4
Total IAN	$	1,783.6	$	1,896.3	$	5,274.9	$	5,718.1

Net revenue:
United States	$	1,093.8	$	1,098.3	$	3,254.1	$	3,339.5
International	591.7		640.9		1,681.6		1,906.9
Total IAN	$	1,685.5	$	1,739.2	$	4,935.7	$	5,246.4


CMG	Three months ended September 30,						Nine months ended September 30,
Total revenue:	2020		2019		2020		2019
United States	$	224.3	$	373.1	$	831.3	$	1,096.4
International	117.6		168.7		404.8		505.0
Total CMG	$	341.9	$	541.8	$	1,236.1	$	1,601.4

Net revenue:
United States	$	179.6	$	214.7	$	566.5	$	625.3
International	89.5		107.5		277.9		320.4
Total CMG	$	269.1	$	322.2	$	844.4	$	945.7

Contract Balances

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.


	September 30, 2020		December 31, 2019
Accounts receivable, net of allowance of $90.7 and $40.2, respectively	$	3,297.4	$	5,209.2
Accounts receivable, billable to clients	1,817.2		1,934.1
Contract assets	47.5		63.0
Contract liabilities (deferred revenue)	611.3		585.6

Contract assets are primarily comprised of contract incentives that are generally satisfied annually under the terms of our contracts and are transferred to accounts receivable when the right to payment becomes unconditional. Contract liabilities relate to advance consideration received from customers under the terms of our contracts primarily related to reimbursements of third-party expenses, whether we act as principal or agent, and to a lesser extent, periodic retainer fees, both of which are generally recognized shortly after billing.

The majority of our contracts are for periods of one year or less with the exception of our data management contracts. For those contracts with a term of more than one year, we had approximately $667.0 of unsatisfied performance obligations as of September 30, 2020, which will be recognized as services are performed over the remaining contractual terms through 2026.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Debt and Credit Arrangements (Notes)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Debt and Credit Arrangements

Long-Term Debt

A summary of the carrying amounts of our long-term debt is listed below.


	Effective Interest Rate	September 30, 2020		December 31, 2019

3.50% Senior Notes due 2020 (less unamortized discount and issuance costs of $0.0 and $0.0, respectively)	3.89%	$	500.0	$	498.5
3.75% Senior Notes due 2021 (less unamortized discount and issuance costs of $0.1 and $1.1, respectively)	3.98%	498.8		497.9
4.00% Senior Notes due 2022 (less unamortized discount and issuance costs of $0.4 and $0.4, respectively)	4.13%	249.2		248.7
3.75% Senior Notes due 2023 (less unamortized discount and issuance costs of $0.4 and $1.0, respectively)	4.32%	498.6		498.2
4.20% Senior Notes due 2024 (less unamortized discount and issuance costs of $0.4 and $1.5, respectively)	4.24%	498.1		497.8
4.65% Senior Notes due 2028 (less unamortized discount and issuance costs of $1.4 and $3.6, respectively)	4.78%	495.0		494.6
4.75% Senior Notes due 2030 (less unamortized discount and issuance costs of $3.7 and $5.8, respectively)	4.92%	640.5		—
5.40% Senior Notes due 2048 (less unamortized discount and issuance costs of $2.7 and $5.2, respectively)	5.48%	492.1		491.9
Other notes payable and capitalized leases		45.6		46.3
Total long-term debt		3,917.9		3,273.9
Less: current portion		506.6		502.0
Long-term debt, excluding current portion		$	3,411.3	$	2,771.9

As of September 30, 2020 and December 31, 2019, the estimated fair value of the Company's long-term debt was $4,381.3 and $3,565.5, respectively. Refer to Note 12 for details.

Debt Transactions

3.50% Senior Notes Due 2020

Our 3.50% Senior Notes in aggregate principal amount of $500.0 matured on October 1, 2020 and we used available cash, including the proceeds from the offering of our 4.75% Senior Notes, to fund the principal repayment.

4.75% Senior Notes Due 2030

On March 30, 2020, we issued a total of $650.0 in aggregate principal amount of 4.75% senior unsecured notes (the “4.75% Senior Notes”) due March 30, 2030. Upon issuance, the 4.75% Senior Notes were reflected in our unaudited Consolidated Balance Sheets at $640.0, net of discount of $3.8 and net of capitalized debt issuance costs, including commissions and offering expenses of $6.2, both of which will be amortized in interest expense through the maturity date using the effective method. Interest is payable semi-annually in arrears on March 30th and September 30th of each year, commencing on September 30, 2020.

Consistent with our other outstanding debt securities, the newly issued 4.75% Senior Notes include covenants that, among other things, limit our liens and the liens of certain of our consolidated subsidiaries, but do not require us to maintain any financial ratios or specified levels of net worth or liquidity. We may redeem the 4.75% Senior Notes at any time in whole, or from time to time in part, in accordance with the provisions of the indenture, including the supplemental indenture, under which the 4.75% Senior Notes were issued. Additionally, upon the occurrence of a change of control repurchase event with respect to the 4.75% Senior Notes, each holder of the 4.75% Senior Notes has the right to require the Company to purchase that holder’s 4.75% Senior Notes at a price equal to 101% of the principal amount thereof, plus accrued and unpaid interest, unless the Company has exercised its option to redeem all the 4.75% Senior Notes.

Credit Arrangements

Credit Agreement

We maintain a committed corporate credit facility, originally dated as of July 18, 2008, which has been amended and restated from time to time (the "Credit Agreement"). We use our Credit Agreement to increase our financial flexibility, to provide letters of credit primarily to support obligations of our subsidiaries and to support our commercial paper program. The Credit Agreement is a revolving facility, expiring in November 2024, under which amounts borrowed by us or any of our subsidiaries designated under the Credit Agreement may be repaid and reborrowed, subject to an aggregate lending limit of $1,500.0, or the equivalent in other currencies. The Company has the ability to increase the commitments under the Credit Agreement from time to time by an additional amount of up to $250.0, provided the Company receives commitments for such increases and satisfies certain other conditions. The aggregate available amount of letters of credit outstanding may decrease or increase, subject to a sublimit of $50.0, or the equivalent in other currencies. Our obligations under the Credit Agreement are unsecured. As of September 30, 2020, there were no borrowings under the Credit Agreement; however, we had $9.0 of letters of credit under the Credit Agreement, which reduced our total availability to $1,491.0. We were in compliance with all of our covenants in the Credit Agreement as of September 30, 2020.

364-Day Credit Facility

On March 27, 2020, we entered into an agreement for a 364-day revolving credit facility (the "364-Day Credit Facility") that matures on March 26, 2021. The 364-Day Credit Facility is a revolving facility, under which amounts borrowed by us may be repaid and reborrowed, subject to an aggregate lending limit of $500.0. The cost structure of the 364-Day Credit Agreement is based on the Company’s current credit ratings. The applicable margin for Base Rate Advances (as defined in the 364-Day Credit Facility) is 0.250%, the applicable margin for Eurodollar Rate Advances (as defined in the 364-Day Credit Facility) is 1.250%, and the facility fee payable on a lender’s revolving commitment is 0.250%. In addition, the 364-Day Credit Facility includes covenants that, among other things, (i) limit our liens and the liens of our consolidated subsidiaries, and (ii) limit subsidiary debt. The 364-Day Credit Facility also contains a financial covenant that requires us to maintain, on a consolidated basis as of the end of each fiscal quarter, a leverage ratio for the four quarters then ended. The leverage ratio and other covenants set forth in the 364-Day Credit Facility are equivalent to the covenants contained in the Company’s existing Credit Agreement, which remains in full effect. As of September 30, 2020, there were no borrowings under the 364-Day Credit Facility, and we were in compliance with all of our covenants in the 364-Day Credit Facility.

The Amendments

On July 28, 2020, we entered into Amendment No. 1 to the Credit Agreement and Amendment No. 1 to the 364-Day Credit Facility (together, the “Amendments”). The Amendments increased the maximum leverage ratio covenant to 4.25x in the case of the 364-Day Credit Facility and, in the case of the Credit Agreement, to (i) 4.25x through the quarter ended June 30, 2021, and (ii) 3.50x thereafter. Amendment No.1 to the Credit Agreement also increased the Applicable Margin (as defined in the Credit Agreement) for any borrowings we make under the Credit Agreement if our long-term public debt ratings are BB+/Ba1 or below at the time of borrowing. We have the option to terminate Amendment No.1 to the Credit Agreement at any time, provided that at the time we deliver a termination notice, the leverage ratio as of the end of the most recently ended fiscal quarter did not exceed 3.50x. The Credit Agreement reverts to its original terms on June 30, 2021, or following any such early termination, whichever is earlier. We paid amendment fees of $2.0 in connection with the Amendments.

Uncommitted Lines of Credit

We also have uncommitted lines of credit with various banks that permit borrowings at variable interest rates and that are primarily used to fund working capital needs. We have guaranteed the repayment of some of these borrowings made by certain subsidiaries. If we lose access to these credit lines, we would have to provide funding directly to some of our operations. As of September 30, 2020, the Company had uncommitted lines of credit in an aggregate amount of $929.8, under which we had outstanding borrowings of $46.3 classified as short-term borrowings on our Consolidated Balance Sheet. The average amount outstanding during the third quarter of 2020 was $78.1, with a weighted-average interest rate of approximately 2.9%.

Commercial Paper

The Company is authorized to issue unsecured commercial paper up to a maximum aggregate amount outstanding at any time of $1,500.0. Borrowings under the program are supported by the Credit Agreement described above. Proceeds of the commercial paper are used for working capital and general corporate purposes, including the repayment of maturing indebtedness and other short-term liquidity needs. The maturities of the commercial paper vary but may not exceed 397 days from the date of issue. There was no commercial paper outstanding during the third quarter of 2020.

Earnings Per Share (Notes)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Earnings Per Share [Text Block]

Earnings Per Share

The following sets forth basic and diluted earnings per common share available to IPG common stockholders.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Net income available to IPG common stockholders	$	279.7	$	165.6	$	238.8	$	327.1

Weighted-average number of common shares outstanding - basic	389.6		386.7		388.9		385.8
Dilutive effect of stock options and restricted shares	4.3		5.1		3.7		4.5
Weighted-average number of common shares outstanding - diluted	393.9		391.8		392.6		390.3

Earnings per share available to IPG common stockholders:
Basic	$	0.72	$	0.43	$	0.61	$	0.85
Diluted	$	0.71	$	0.42	$	0.61	$	0.84

Supplementary Data (Notes)

9 Months Ended

Sep. 30, 2020

Supplementary Data [Abstract]

Accrued Liabilities

The following table presents the components of accrued liabilities.


	September 30, 2020		December 31, 2019
Salaries, benefits and related expenses	$	415.6	$	494.1
Interest	58.7		38.8
Acquisition obligations	49.9		45.7
Restructuring charges	25.9		1.6
Office and related expenses	22.7		26.9
Income taxes payable	0.0		43.2
Other	71.9		92.5
Total accrued liabilities	$	644.7	$	742.8

Other Income, Net

Other Expense, Net

Results of operations for the three and nine months ended September 30, 2020 and 2019 include certain items that are not directly associated with our revenue-producing operations.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
Net losses on sales of businesses	$	(8.6)	$	(7.7)	$	(51.8)	$	(19.5)
Other	(2.7)		0.3		(2.8)		1.4
Total other expense, net	$	(11.3)	$	(7.4)	$	(54.6)	$	(18.1)

Net losses on sales of businesses – During the three and nine months ended September 30, 2020, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale, within our IAN and CMG reportable segments. During the three and nine months ended September 30, 2019, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale, within our IAN reportable segment. The businesses held for sale primarily represent unprofitable, non-strategic agencies which are expected to be sold within the next twelve months.

Other – During the nine months ended September 30, 2019, the amounts recognized were primarily a result of changes in the fair market value of equity investments, partially offset by the sale of an equity investment.

Share Repurchase Program

Share Repurchase Program On July 2, 2018, in connection with the announcement of the Acxiom acquisition, we announced that share repurchases will be suspended for a period of time in order to reduce the increased debt levels incurred in conjunction with the acquisition. As of September 30, 2020, $338.4, excluding fees, remains available for repurchase under the share repurchase programs authorized in previous years, which have no expiration date.

Redeemable Noncontrolling Interest [Table Text Block]

Redeemable Noncontrolling Interests

Many of our acquisitions include provisions under which the noncontrolling equity owners may require us to purchase additional interests in a subsidiary at their discretion. Redeemable noncontrolling 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 noncontrolling interests.


	Nine months ended September 30,
	2020		2019
Balance at beginning of period	$	164.7	$	167.9
Change in related noncontrolling interests balance	(6.0)		(2.1)
Changes in redemption value of redeemable noncontrolling interests:
Additions	0.0		24.3
Redemptions	(2.5)		(3.1)
Redemption value adjustments	(3.4)		(1.6)
Balance at end of period	$	152.8	$	185.4

Income Taxes (Notes)	9 Months Ended
Income Taxes (Notes)	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and nine months ended September 30, 2020, our income tax benefit was positively impacted by the settlement of the 2006 through 2016 U.S. Federal income tax audit, partially offset by losses in certain foreign jurisdictions where we received no tax benefit due to 100% valuation allowances, by net losses on sales of businesses and the classification of certain assets as held for sale for which we received minimal tax benefit and by tax expense associated with the change to our assertion regarding the permanent reinvestment of undistributed earnings attributable to certain foreign subsidiaries. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was enacted and signed into law. The CARES Act includes several provisions for corporations including increasing the amount of deductible interest, allowing companies to carryback certain net operating losses (“NOLs”) and increasing the amount of NOLs that corporations can use to offset income. The CARES Act did not materially affect our quarter or year-to-date income tax provision, deferred tax assets and liabilities, or related taxes payable, nor do we expect it to have a material impact for the full year. In 2020, in response to changes in non-US tax law, a decision was made to change our indefinite reinvestment assertion on a $120.0 of undistributed foreign earnings of specific subsidiaries. We recorded $10.4 of income tax costs associated with this change to our assertion. In the third quarter of 2020, in response to restructuring actions taken within foreign subsidiaries, a decision was made to change our indefinite reinvestment assertion on a $46.0 of undistributed foreign earnings of specific subsidiaries. We recorded $3.2 of income tax costs associated with this change to our assertion. We have various tax years under examination by tax authorities in various countries, and in various states, in which we have significant business operations. It is not yet known whether these examinations will, in the aggregate, result in our paying additional taxes. We believe our tax reserves are adequate in relation to the potential for additional assessments in each of the jurisdictions in which we are subject to taxation. We regularly assess the likelihood of additional tax assessments in those jurisdictions and, if necessary, adjust our reserves as additional information or events require. On July 29, 2020, the Internal Revenue Service notified the Company that the U.S. Federal income tax audit of years 2006 through 2016 has been finalized and settled. As a result, we recognized an income tax benefit of $136.2 in the third quarter of 2020. With respect to all tax years open to examination by U.S. federal, various state and local, and non-U.S. tax authorities, we currently anticipate that total unrecognized tax benefits will decrease by an amount between $10.0 and $20.0 in the next twelve months, a portion of which will affect our effective income tax rate, primarily as a result of the settlement of tax examinations and the lapsing of statutes of limitations. We are effectively settled with respect to U.S. federal income tax audits through 2016. With limited exceptions, we are no longer subject to state and local income tax audits for years prior to 2013 or non-U.S. income tax audits for years prior to 2009.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Restructuring Charges (Notes)

9 Months Ended

Sep. 30, 2020

Restructuring Charges [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

Restructuring Charges

The components of restructuring charges for 2020 and 2019 restructuring plans are listed below.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
Severance and termination costs	$	17.9	$	0.0	$	62.5	$	22.0
Lease impairment costs	26.6		0.0		92.3		11.9
Other restructuring costs	2.8		0.0		5.1		0.0
Total restructuring charges	$	47.3	$	0.0	$	159.9	$	33.9

2020 Restructuring Plan

In the second and third quarters of 2020, the Company took restructuring actions to lower our operating expenses structurally and permanently relative to revenue and to accelerate the transformation of our business (the “2020 Plan”). Most of these actions are based on our recent experience and learning in the COVID-19 pandemic and a resulting review of our operations, which continues, to address certain operating expenses such as occupancy expense and salaries and related expenses.

Net restructuring charges were comprised of $24.9 at IAN and $17.2 at CMG for the three months ended September 30, 2020, which include non-cash lease impairment costs of $14.3 and $12.8, respectively. Net restructuring charges were comprised of $93.7 at IAN and $53.9 at CMG for the nine months ended September 30, 2020, which include non-cash lease impairment costs of $50.1 and $39.6, respectively.

Restructuring actions under the 2020 Plan were identified and initiated during the second quarter of 2020, with additional actions in the third quarter and expected in the fourth quarter and all actions to be substantially complete by the end of the fourth quarter of 2020.

During the first nine months of 2020, severance and termination costs were related to a planned reduction in workforce of 971 employees. The employee groups affected include executive, regional and account management as well as administrative, creative and media production personnel.

Lease impairment costs, which relate to the office spaces that were vacated as part of the 2020 Plan, included impairments of operating lease right-of-use assets and associated leasehold improvements, furniture and asset retirement obligations. Lease impairments were calculated based on estimated fair values using market participant assumptions including forecasted net discounted cash flows related to the operating lease right-of-use assets.

A summary of the restructuring activities related to the 2020 Plan is as follows:


	2020 Plan
	Restructuring Expense		Non-Cash Items		Cash Payments		Liability at September 30, 2020
Severance and termination costs	$	62.5	$	1.0	$	34.0	$	27.5
Lease impairment costs	92.3		92.3		0.0		0.0
Other	5.1		2.4		2.7		0.0
Total	$	159.9	$	95.7	$	36.7	$	27.5

2019 Restructuring Plan

In the first quarter of 2019, the Company implemented a cost initiative (the “2019 Plan”) to better align our cost structure with our revenue primarily related to specific client losses occurring in 2018. All restructuring actions were identified and initiated by the end of the first quarter of 2019, with all actions substantially completed by the end of the second quarter of 2019, and there have not been any restructuring adjustments.

Incentive Compensation Plans (Notes)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement, Additional Disclosure [Abstract]

Incentive Compensation Plans

We issue stock-based compensation and cash awards to our employees under various plans established by the Compensation and Leadership Talent Committee of the Board of Directors (the "Compensation Committee") and approved by our stockholders. We issued the following stock-based awards under the 2019 Performance Incentive Plan (the "2019 PIP") during the nine months ended September 30, 2020.


	Awards	Weighted-average grant-date fair value (per award)
Restricted stock (shares or units)	2.3	$	20.74
Performance-based stock (shares)	2.4	$	18.69
Total stock-based compensation awards	4.7

During the nine months ended September 30, 2020, the Compensation Committee granted performance cash awards under the 2019 PIP and restricted cash awards under the 2009 Restricted Cash Plan with a total annual target value of $43.3 and $36.2, respectively. Cash awards are expensed over the vesting period, which is typically three years for performance cash awards and two years or three years for restricted cash awards.

Accumulated Other Comprehensive Loss, Net of Tax (Notes)

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

Accumulated Other Comprehensive Loss, Net of Tax

The following tables present the changes in accumulated other comprehensive loss, net of tax, by component.


	Foreign Currency Translation Adjustments		Derivative Instruments		Defined Benefit Pension and Other Postretirement Plans		Total
Balance as of December 31, 2019	$	(697.7)	$	(3.5)	$	(228.8)	$	(930.0)
Other comprehensive (loss) income before reclassifications	(56.2)		2.7		0.8		(52.7)
Amount reclassified from accumulated other comprehensive loss, net of tax	9.3		1.3		4.3		14.9
Balance as of September 30, 2020	$	(744.6)	$	0.5	$	(223.7)	$	(967.8)


	Foreign Currency Translation Adjustments		Derivative Instruments		Defined Benefit Pension and Other Postretirement Plans		Total
Balance as of December 31, 2018	$	(716.4)	$	(5.3)	$	(219.4)	$	(941.1)
Other comprehensive (loss) income before reclassifications	(37.2)		0.0		1.6		(35.6)
Amount reclassified from accumulated other comprehensive loss, net of tax	5.2		1.4		3.9		10.5
Balance as of September 30, 2019	$	(748.4)	$	(3.9)	$	(213.9)	$	(966.2)

Amounts reclassified from accumulated other comprehensive loss, net of tax, for the three and nine months ended September 30, 2020 and 2019 are as follows:


	Three months ended September 30,						Nine months ended September 30,			Affected Line Item in the Consolidated Statements of Operations
	2020		2019		2020		2019
Foreign currency translation adjustments	$	9.6	$	(0.6)	$	9.3	$	5.2	Other expense, net
Losses on derivative instruments	0.6		0.6		1.8		1.8		Interest expense
Amortization of defined benefit pension and postretirement plan items	1.8		1.7		5.5		5.0		Other expense, net
Tax effect	(0.6)		(0.6)		(1.7)		(1.5)		(Benefit of) provision for income taxes
Total amount reclassified from accumulated other comprehensive loss, net of tax	$	11.4	$	1.1	$	14.9	$	10.5

Employee Benefits (Notes)

9 Months Ended

Sep. 30, 2020

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Employee Benefits

We have a defined benefit pension plan that covers certain U.S. employees (the “Domestic Pension Plan”). We also have numerous funded and unfunded plans outside the U.S. The Interpublic Limited Pension Plan in the U.K. is a defined benefit plan and is our most material foreign pension plan in terms of the benefit obligation and plan assets. Some of our domestic and foreign subsidiaries provide postretirement health benefits and life insurance to eligible employees and, in certain cases, their dependents. The domestic postretirement benefit plan is our most material postretirement benefit plan in terms of the benefit obligation. Certain immaterial foreign pension and postretirement benefit plans have been excluded from the table below.

The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below.


	Domestic Pension Plan						Foreign Pension Plans						Domestic Postretirement Benefit Plan
Three Months Ended September 30,	2020		2019		2020		2019		2020		2019
Service cost	$	0.0	$	0.0	$	1.2	$	1.2	$	0.0	$	0.0
Interest cost	0.9		1.2		2.4		3.0		0.2		0.3
Expected return on plan assets	(1.4)		(1.5)		(4.7)		(4.2)		0.0		0.0

Amortization of:
Prior service cost (credit)	0.0		0.0		0.0		0.0		(0.1)		0.0
Unrecognized actuarial losses	0.4		0.5		1.4		1.2		0.1		0.0
Net periodic cost	$	(0.1)	$	0.2	$	0.3	$	1.2	$	0.2	$	0.3


	Domestic Pension Plan						Foreign Pension Plans						Domestic Postretirement Benefit Plan
Nine Months Ended September 30,	2020		2019		2020		2019		2020		2019
Service cost	$	0.0	$	0.0	$	3.5	$	3.5	$	0.0	$	0.0
Interest cost	2.8		3.6		7.0		9.3		0.6		0.9
Expected return on plan assets	(4.2)		(4.4)		(14.0)		(13.0)		0.0		0.0

Amortization of:
Prior service cost (credit)	0.0		0.0		0.1		0.1		(0.1)		(0.1)
Unrecognized actuarial losses	1.2		1.4		4.1		3.6		0.2		0.0
Net periodic cost	$	(0.2)	$	0.6	$	0.7	$	3.5	$	0.7	$	0.8

The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the Consolidated Statements of Operations.

During the nine months ended September 30, 2020, we contributed $1.3 and $13.9 of cash to our domestic and foreign pension plans, respectively. For the remainder of 2020, we expect to contribute approximately $1.0 and $4.0 of cash to our domestic and foreign pension plans, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

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+ Details

Segment Information (Notes)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Segment Reporting Disclosure

Segment Information

As of September 30, 2020, we have two reportable segments: IAN and CMG. IAN is comprised of McCann Worldgroup, FCB (Foote, Cone & Belding), MullenLowe Group, Media, Data Services and Tech, which includes IPG Mediabrands, Acxiom and Kinesso, our digital specialist agencies and our domestic integrated agencies. CMG is comprised of a number of our specialist marketing services offerings including Weber Shandwick, DeVries, Golin, FutureBrand, Jack Morton and Octagon Worldwide. We also report results for the “Corporate and other” group. We continue to evaluate our financial reporting structure, and the profitability measure, employed by our chief operating decision maker for allocating resources to operating divisions and assessing operating division performance, is segment EBITA. Summarized financial information concerning our reportable segments is shown in the following table.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
Total revenue:
IAN	$	1,783.6	$	1,896.3	$	5,274.9	$	5,718.1
CMG	341.9		541.8		1,236.1		1,601.4
Total	$	2,125.5	$	2,438.1	$	6,511.0	$	7,319.5

Net revenue:
IAN	$	1,685.5	$	1,739.2	$	4,935.7	$	5,246.4
CMG	269.1		322.2		844.4		945.7
Total	$	1,954.6	$	2,061.4	$	5,780.1	$	6,192.1

Segment EBITA ¹:
IAN	$	260.0	$	262.3	$	459.4	$	640.7
CMG	25.9		50.7		21.9		94.0
Corporate and other	(16.0)		(11.0)		(51.9)		(75.4)
Total	$	269.9	$	302.0	$	429.4	$	659.3

Amortization of acquired intangibles:
IAN	$	20.2	$	20.6	$	61.2	$	61.3
CMG	1.1		1.1		3.2		3.3
Corporate and other	0.0		0.0		0.0		0.0
Total	$	21.3	$	21.7	$	64.4	$	64.6

Depreciation and amortization ²:
IAN	$	43.8	$	40.9	$	133.8	$	127.9
CMG	5.0		5.2		15.5		15.2
Corporate and other	0.9		1.2		3.2		5.4
Total	$	49.7	$	47.3	$	152.5	$	148.5

Capital expenditures:
IAN	$	31.7	$	44.5	$	85.2	$	106.9
CMG	1.2		4.0		4.1		7.9
Corporate and other	7.2		5.2		22.7		19.0
Total	$	40.1	$	53.7	$	112.0	$	133.8

1 Adjusted EBITA is calculated as net income available to IPG common stockholders before (benefit of) provision for incomes taxes, total (expenses) and other income, equity in net (loss) income of unconsolidated affiliates, net loss (income) attributable to noncontrolling interests and amortization of acquired intangibles.

2 Excludes amortization of acquired intangibles.


	September 30, 2020		December 31, 2019
Total assets:
IAN	$	13,307.4	$	15,155.2
CMG	1,505.4		1,725.5
Corporate and other	1,261.9		871.2
Total	$	16,074.7	$	17,751.9

The following table presents the reconciliation of segment EBITA to Income before income taxes.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
IAN EBITA	$	260.0	$	262.3	$	459.4	$	640.7
CMG EBITA	25.9		50.7		21.9		94.0
Corporate and other EBITA	(16.0)		(11.0)		(51.9)		(75.4)
Less: consolidated amortization of acquired intangibles	21.3		21.7		64.4		64.6
Operating income	248.6		280.3		365.0		594.7
Total (expenses) and other income	(56.0)		(47.6)		(177.3)		(144.2)
Income before income taxes	$	192.6	$	232.7	$	187.7	$	450.5

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Fair Value Measurements (Notes)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurements

Authoritative guidance for fair value measurements establishes a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value:


Level 1						Unadjusted quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2						Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3						Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Financial Instruments that are Measured at Fair Value on a Recurring Basis

We primarily apply the market approach to determine the fair value of financial instruments that are measured at fair value on a recurring basis. There were no changes to our valuation techniques used to determine the fair value of financial instruments during the nine months ended September 30, 2020. The following tables present information about our financial instruments measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.


	September 30, 2020									Balance Sheet Classification
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	103.1	$	0.0	$	0.0	$	103.1	Cash and cash equivalents
Liabilities
Contingent acquisition obligations¹	$	0.0	$	0.0	$	94.7	$	94.7	Accrued liabilities and Other non-current liabilities

	December 31, 2019									Balance Sheet Classification
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	786.0	$	0.0	$	0.0	$	786.0	Cash and cash equivalents
Liabilities
Contingent acquisition obligations ¹	$	0.0	$	0.0	$	114.1	$	114.1	Accrued liabilities and Other non-current liabilities

1Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $19.4 from December 31, 2019 to September 30, 2020 is primarily due to acquisition payments, partially offset by valuation adjustments, an increase in deferred acquisition payments and exercises of put options. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.

Financial Instruments that are not Measured at Fair Value on a Recurring Basis

The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value.


	September 30, 2020														December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Total long-term debt	$	0.0	$	4,335.9	$	45.4	$	4,381.3	$	0.0	$	3,520.0	$	45.5	$	3,565.5

Our long-term debt is comprised of senior notes and other notes payable. The fair value of our senior notes, which are traded over-the-counter, is based on quoted prices in markets that are not active. Therefore, these senior notes are classified as Level 2. Our other notes payable are not actively traded, and their fair value is not solely derived from readily observable inputs. The fair value of our other notes payable is determined based on a discounted cash flow model and other proprietary valuation methods, and therefore is classified as Level 3. See Note 3 for further information on our long-term debt.

The discount rates used as significant unobservable inputs in the Level 3 fair value measurements of our contingent acquisition obligations and long-term debt as of September 30, 2020 ranged from 1.0% to 4.0% and 0.5% to 3.5%, respectively.

Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis

Certain non-financial assets and liabilities are measured at fair value on a nonrecurring basis, primarily goodwill (Level 3), intangible assets, and property and equipment. Accordingly, these assets are not measured and adjusted to fair value on an ongoing basis but are subject to periodic evaluations for potential impairment.

During the second and third quarters of 2020, recent economic developments related to the COVID-19 pandemic contributed to declines in our most recent forecasted financial results. We evaluated our reporting units including the impact of these declines, restructuring actions taken in the second and third quarters of 2020 and other reporting unit specific factors.

During the third quarter of 2020, we considered the potential for goodwill impairment of our reporting units. Our review did not indicate an impairment triggering event as of September 30, 2020.

During the second quarter of 2020, we concluded that this constituted a goodwill triggering event for one reporting unit, requiring us to evaluate its goodwill for impairment. Based on the results of a quantitative interim impairment test, we concluded that the reporting unit’s goodwill was not impaired as of June 30, 2020, because the fair value of the reporting unit was in excess of its carrying value. We also considered the potential for goodwill impairment of our other reporting units and our review did not indicate an impairment triggering event as of June 30, 2020.

Commitments and Contingencies (Notes)	9 Months Ended
Commitments and Contingencies (Notes)	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Guarantees As discussed in our 2019 Annual Report, we have guaranteed certain obligations of our subsidiaries relating principally to operating leases, uncommitted lines of credit and cash pooling arrangements. As of September 30, 2020 and December 31, 2019, the amount of parent company guarantees on lease obligations was $658.0 and $739.1, respectively, the amount of parent company guarantees relating to uncommitted lines of credit was $275.1 and $293.8, respectively, and the amount of parent company guarantees related to daylight overdrafts, primarily utilized to manage intra-day overdrafts due to timing of transactions under cash pooling arrangements without resulting in incremental borrowings, was $213.7 and $207.7, respectively. Legal Matters We are involved in various legal proceedings, and subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities, arising in the normal course of business. The types of allegations that arise in connection with such legal proceedings may vary in nature, but can include claims related to contract, employment, tax and intellectual property matters. We evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount, or potential range, of loss can be reasonably estimated. In certain cases, we cannot reasonably estimate the potential loss because, for example, the litigation is in its early stages. While any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty, management believes that the outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.

Recent Accounting Standards (Notes)	9 Months Ended
Recent Accounting Standards (Notes)	Sep. 30, 2020
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Standards	Recent Accounting Standards Accounting pronouncements not listed below were assessed and determined to be not applicable or are expected to have minimal impact on our Consolidated Financial Statements. Current Expected Credit Losses In June 2016, the Financial Accounting Standards Board ("FASB") issued amended guidance on the accounting for credit losses on certain types of financial instruments, including trade receivables. The new model uses a forward-looking expected loss method, as opposed to the incurred loss method in current U.S. GAAP, which will generally result in earlier recognition of allowances for losses. We adopted this standard using the modified retrospective approach with an effective date of January 1, 2020. The adoption of this amended guidance did not have a material impact on our Consolidated Financial Statements. Fair Value Measurement Disclosures In August 2018, the FASB issued amended disclosure requirements for fair value measurements by removing, modifying and adding certain disclosures. This amended guidance was effective beginning January 1, 2020. The adoption of this guidance did not have a material impact on our Consolidated Financial Statements. Income Taxes In December 2019, the FASB issued amended guidance to simplify the accounting for income taxes by removing certain exceptions and amending certain sections of existing guidance under ASC 740. This amended guidance is effective January 1, 2021 with early adoption permitted as early as January 1, 2020. We are currently assessing the impact the adoption of the amended guidance will have on our Consolidated Financial Statements.

Revenue (Tables)

9 Months Ended

Sep. 30, 2020

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue Principal Geographic Markets

Our agencies are located in over 100 countries, including every significant world market. Our geographic revenue breakdown is listed below.


	Three months ended September 30,						Nine months ended September 30,
Total revenue:	2020		2019		2020		2019
United States	$	1,354.8	$	1,550.9	$	4,234.0	$	4,681.1
International:
United Kingdom	172.4		201.9		528.8		617.9
Continental Europe	174.5		177.6		508.5		565.8
Asia Pacific	198.1		262.7		609.9		753.3
Latin America	83.2		109.2		235.7		300.3
Other	142.5		135.8		394.1		401.1
Total International	770.7		887.2		2,277.0		2,638.4
Total Consolidated	$	2,125.5	$	2,438.1	$	6,511.0	$	7,319.5


	Three months ended September 30,						Nine months ended September 30,
Net revenue:	2020		2019		2020		2019
United States	$	1,273.4	$	1,313.0	$	3,820.6	$	3,964.8
International:
United Kingdom	162.0		172.1		474.9		522.8
Continental Europe	158.0		155.7		453.7		495.8
Asia Pacific	166.0		205.0		487.4		588.1
Latin America	78.5		97.8		220.1		270.2
Other	116.7		117.8		323.4		350.4
Total International	681.2		748.4		1,959.5		2,227.3
Total Consolidated	$	1,954.6	$	2,061.4	$	5,780.1	$	6,192.1


IAN	Three months ended September 30,						Nine months ended September 30,
Total revenue:	2020		2019		2020		2019
United States	$	1,130.5	$	1,177.8	$	3,402.7	$	3,584.7
International	653.1		718.5		1,872.2		2,133.4
Total IAN	$	1,783.6	$	1,896.3	$	5,274.9	$	5,718.1

Net revenue:
United States	$	1,093.8	$	1,098.3	$	3,254.1	$	3,339.5
International	591.7		640.9		1,681.6		1,906.9
Total IAN	$	1,685.5	$	1,739.2	$	4,935.7	$	5,246.4


CMG	Three months ended September 30,						Nine months ended September 30,
Total revenue:	2020		2019		2020		2019
United States	$	224.3	$	373.1	$	831.3	$	1,096.4
International	117.6		168.7		404.8		505.0
Total CMG	$	341.9	$	541.8	$	1,236.1	$	1,601.4

Net revenue:
United States	$	179.6	$	214.7	$	566.5	$	625.3
International	89.5		107.5		277.9		320.4
Total CMG	$	269.1	$	322.2	$	844.4	$	945.7

Contract Balances

The following table provides information about receivables, contract assets and contract liabilities from contracts with customers.


	September 30, 2020		December 31, 2019
Accounts receivable, net of allowance of $90.7 and $40.2, respectively	$	3,297.4	$	5,209.2
Accounts receivable, billable to clients	1,817.2		1,934.1
Contract assets	47.5		63.0
Contract liabilities (deferred revenue)	611.3		585.6

Debt and Credit Arrangements (Tables)

9 Months Ended

Sep. 30, 2020

Debt Disclosure [Abstract]

Summary of Carrying Amounts and Fair Values of Long-term Debt

A summary of the carrying amounts of our long-term debt is listed below.


	Effective Interest Rate	September 30, 2020		December 31, 2019

3.50% Senior Notes due 2020 (less unamortized discount and issuance costs of $0.0 and $0.0, respectively)	3.89%	$	500.0	$	498.5
3.75% Senior Notes due 2021 (less unamortized discount and issuance costs of $0.1 and $1.1, respectively)	3.98%	498.8		497.9
4.00% Senior Notes due 2022 (less unamortized discount and issuance costs of $0.4 and $0.4, respectively)	4.13%	249.2		248.7
3.75% Senior Notes due 2023 (less unamortized discount and issuance costs of $0.4 and $1.0, respectively)	4.32%	498.6		498.2
4.20% Senior Notes due 2024 (less unamortized discount and issuance costs of $0.4 and $1.5, respectively)	4.24%	498.1		497.8
4.65% Senior Notes due 2028 (less unamortized discount and issuance costs of $1.4 and $3.6, respectively)	4.78%	495.0		494.6
4.75% Senior Notes due 2030 (less unamortized discount and issuance costs of $3.7 and $5.8, respectively)	4.92%	640.5		—
5.40% Senior Notes due 2048 (less unamortized discount and issuance costs of $2.7 and $5.2, respectively)	5.48%	492.1		491.9
Other notes payable and capitalized leases		45.6		46.3
Total long-term debt		3,917.9		3,273.9
Less: current portion		506.6		502.0
Long-term debt, excluding current portion		$	3,411.3	$	2,771.9

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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-URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 55
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

Earnings Per Share (Tables)

9 Months Ended

Sep. 30, 2020

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following sets forth basic and diluted earnings per common share available to IPG common stockholders.


	Three Months Ended September 30,						Nine Months Ended September 30,
	2020		2019		2020		2019
Net income available to IPG common stockholders	$	279.7	$	165.6	$	238.8	$	327.1

Weighted-average number of common shares outstanding - basic	389.6		386.7		388.9		385.8
Dilutive effect of stock options and restricted shares	4.3		5.1		3.7		4.5
Weighted-average number of common shares outstanding - diluted	393.9		391.8		392.6		390.3

Earnings per share available to IPG common stockholders:
Basic	$	0.72	$	0.43	$	0.61	$	0.85
Diluted	$	0.71	$	0.42	$	0.61	$	0.84

Supplementary Data (Tables)

9 Months Ended

Sep. 30, 2020

Supplementary Data [Abstract]

Accrued Liabilities

The following table presents the components of accrued liabilities.


	September 30, 2020		December 31, 2019
Salaries, benefits and related expenses	$	415.6	$	494.1
Interest	58.7		38.8
Acquisition obligations	49.9		45.7
Restructuring charges	25.9		1.6
Office and related expenses	22.7		26.9
Income taxes payable	0.0		43.2
Other	71.9		92.5
Total accrued liabilities	$	644.7	$	742.8

Other Income (Expense), Net

Results of operations for the three and nine months ended September 30, 2020 and 2019 include certain items that are not directly associated with our revenue-producing operations.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
Net losses on sales of businesses	$	(8.6)	$	(7.7)	$	(51.8)	$	(19.5)
Other	(2.7)		0.3		(2.8)		1.4
Total other expense, net	$	(11.3)	$	(7.4)	$	(54.6)	$	(18.1)

Redeemable Noncontrolling Interest [Table Text Block]

Redeemable Noncontrolling Interests

The following table presents changes in our redeemable noncontrolling interests.


	Nine months ended September 30,
	2020		2019
Balance at beginning of period	$	164.7	$	167.9
Change in related noncontrolling interests balance	(6.0)		(2.1)
Changes in redemption value of redeemable noncontrolling interests:
Additions	0.0		24.3
Redemptions	(2.5)		(3.1)
Redemption value adjustments	(3.4)		(1.6)
Balance at end of period	$	152.8	$	185.4

Restructuring Charges (Tables)

9 Months Ended

Sep. 30, 2020

Restructuring Charges [Abstract]

Restructuring and Related Costs [Table Text Block]


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
Severance and termination costs	$	17.9	$	0.0	$	62.5	$	22.0
Lease impairment costs	26.6		0.0		92.3		11.9
Other restructuring costs	2.8		0.0		5.1		0.0
Total restructuring charges	$	47.3	$	0.0	$	159.9	$	33.9

Schedule of Restructuring activities related to the 2020 Plan [Table Text Block]

A summary of the restructuring activities related to the 2020 Plan is as follows:


	2020 Plan
	Restructuring Expense		Non-Cash Items		Cash Payments		Liability at September 30, 2020
Severance and termination costs	$	62.5	$	1.0	$	34.0	$	27.5
Lease impairment costs	92.3		92.3		0.0		0.0
Other	5.1		2.4		2.7		0.0
Total	$	159.9	$	95.7	$	36.7	$	27.5

Incentive Compensation Plans (Tables)

9 Months Ended

Sep. 30, 2020

Share-based Payment Arrangement, Additional Disclosure [Abstract]

Stock-based Compensation Awards

We issued the following stock-based awards under the 2019 Performance Incentive Plan (the "2019 PIP") during the nine months ended September 30, 2020.


	Awards	Weighted-average grant-date fair value (per award)
Restricted stock (shares or units)	2.3	$	20.74
Performance-based stock (shares)	2.4	$	18.69
Total stock-based compensation awards	4.7

Accumulated Other Comprehensive Loss, Net of Tax (Tables)

9 Months Ended

Sep. 30, 2020

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Accumulated Other Comprehensive Loss, Net of Tax

The following tables present the changes in accumulated other comprehensive loss, net of tax, by component.


	Foreign Currency Translation Adjustments		Derivative Instruments		Defined Benefit Pension and Other Postretirement Plans		Total
Balance as of December 31, 2019	$	(697.7)	$	(3.5)	$	(228.8)	$	(930.0)
Other comprehensive (loss) income before reclassifications	(56.2)		2.7		0.8		(52.7)
Amount reclassified from accumulated other comprehensive loss, net of tax	9.3		1.3		4.3		14.9
Balance as of September 30, 2020	$	(744.6)	$	0.5	$	(223.7)	$	(967.8)


	Foreign Currency Translation Adjustments		Derivative Instruments		Defined Benefit Pension and Other Postretirement Plans		Total
Balance as of December 31, 2018	$	(716.4)	$	(5.3)	$	(219.4)	$	(941.1)
Other comprehensive (loss) income before reclassifications	(37.2)		0.0		1.6		(35.6)
Amount reclassified from accumulated other comprehensive loss, net of tax	5.2		1.4		3.9		10.5
Balance as of September 30, 2019	$	(748.4)	$	(3.9)	$	(213.9)	$	(966.2)

Reclassification out of Accumulated Other Comprehensive Income

Amounts reclassified from accumulated other comprehensive loss, net of tax, for the three and nine months ended September 30, 2020 and 2019 are as follows:


	Three months ended September 30,						Nine months ended September 30,			Affected Line Item in the Consolidated Statements of Operations
	2020		2019		2020		2019
Foreign currency translation adjustments	$	9.6	$	(0.6)	$	9.3	$	5.2	Other expense, net
Losses on derivative instruments	0.6		0.6		1.8		1.8		Interest expense
Amortization of defined benefit pension and postretirement plan items	1.8		1.7		5.5		5.0		Other expense, net
Tax effect	(0.6)		(0.6)		(1.7)		(1.5)		(Benefit of) provision for income taxes
Total amount reclassified from accumulated other comprehensive loss, net of tax	$	11.4	$	1.1	$	14.9	$	10.5

Employee Benefits (Tables)

9 Months Ended

Sep. 30, 2020

Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]

Schedule of Net Periodic Costs

The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below.


	Domestic Pension Plan						Foreign Pension Plans						Domestic Postretirement Benefit Plan
Three Months Ended September 30,	2020		2019		2020		2019		2020		2019
Service cost	$	0.0	$	0.0	$	1.2	$	1.2	$	0.0	$	0.0
Interest cost	0.9		1.2		2.4		3.0		0.2		0.3
Expected return on plan assets	(1.4)		(1.5)		(4.7)		(4.2)		0.0		0.0

Amortization of:
Prior service cost (credit)	0.0		0.0		0.0		0.0		(0.1)		0.0
Unrecognized actuarial losses	0.4		0.5		1.4		1.2		0.1		0.0
Net periodic cost	$	(0.1)	$	0.2	$	0.3	$	1.2	$	0.2	$	0.3


	Domestic Pension Plan						Foreign Pension Plans						Domestic Postretirement Benefit Plan
Nine Months Ended September 30,	2020		2019		2020		2019		2020		2019
Service cost	$	0.0	$	0.0	$	3.5	$	3.5	$	0.0	$	0.0
Interest cost	2.8		3.6		7.0		9.3		0.6		0.9
Expected return on plan assets	(4.2)		(4.4)		(14.0)		(13.0)		0.0		0.0

Amortization of:
Prior service cost (credit)	0.0		0.0		0.1		0.1		(0.1)		(0.1)
Unrecognized actuarial losses	1.2		1.4		4.1		3.6		0.2		0.0
Net periodic cost	$	(0.2)	$	0.6	$	0.7	$	3.5	$	0.7	$	0.8

Segment Information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Summarized financial information concerning reportable segments

Summarized financial information concerning our reportable segments is shown in the following table.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
Total revenue:
IAN	$	1,783.6	$	1,896.3	$	5,274.9	$	5,718.1
CMG	341.9		541.8		1,236.1		1,601.4
Total	$	2,125.5	$	2,438.1	$	6,511.0	$	7,319.5

Net revenue:
IAN	$	1,685.5	$	1,739.2	$	4,935.7	$	5,246.4
CMG	269.1		322.2		844.4		945.7
Total	$	1,954.6	$	2,061.4	$	5,780.1	$	6,192.1

Segment EBITA ¹:
IAN	$	260.0	$	262.3	$	459.4	$	640.7
CMG	25.9		50.7		21.9		94.0
Corporate and other	(16.0)		(11.0)		(51.9)		(75.4)
Total	$	269.9	$	302.0	$	429.4	$	659.3

Amortization of acquired intangibles:
IAN	$	20.2	$	20.6	$	61.2	$	61.3
CMG	1.1		1.1		3.2		3.3
Corporate and other	0.0		0.0		0.0		0.0
Total	$	21.3	$	21.7	$	64.4	$	64.6

Depreciation and amortization ²:
IAN	$	43.8	$	40.9	$	133.8	$	127.9
CMG	5.0		5.2		15.5		15.2
Corporate and other	0.9		1.2		3.2		5.4
Total	$	49.7	$	47.3	$	152.5	$	148.5

Capital expenditures:
IAN	$	31.7	$	44.5	$	85.2	$	106.9
CMG	1.2		4.0		4.1		7.9
Corporate and other	7.2		5.2		22.7		19.0
Total	$	40.1	$	53.7	$	112.0	$	133.8

2 Excludes amortization of acquired intangibles.


	September 30, 2020		December 31, 2019
Total assets:
IAN	$	13,307.4	$	15,155.2
CMG	1,505.4		1,725.5
Corporate and other	1,261.9		871.2
Total	$	16,074.7	$	17,751.9

The following table presents the reconciliation of segment EBITA to Income before income taxes.


	Three months ended September 30,						Nine months ended September 30,
	2020		2019		2020		2019
IAN EBITA	$	260.0	$	262.3	$	459.4	$	640.7
CMG EBITA	25.9		50.7		21.9		94.0
Corporate and other EBITA	(16.0)		(11.0)		(51.9)		(75.4)
Less: consolidated amortization of acquired intangibles	21.3		21.7		64.4		64.6
Operating income	248.6		280.3		365.0		594.7
Total (expenses) and other income	(56.0)		(47.6)		(177.3)		(144.2)
Income before income taxes	$	192.6	$	232.7	$	187.7	$	450.5

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables present information about our financial instruments measured at fair value on a recurring basis as of September 30, 2020 and December 31, 2019, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value.


	September 30, 2020									Balance Sheet Classification
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	103.1	$	0.0	$	0.0	$	103.1	Cash and cash equivalents
Liabilities
Contingent acquisition obligations¹	$	0.0	$	0.0	$	94.7	$	94.7	Accrued liabilities and Other non-current liabilities

	December 31, 2019									Balance Sheet Classification
	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents	$	786.0	$	0.0	$	0.0	$	786.0	Cash and cash equivalents
Liabilities
Contingent acquisition obligations ¹	$	0.0	$	0.0	$	114.1	$	114.1	Accrued liabilities and Other non-current liabilities

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis


	September 30, 2020														December 31, 2019
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Total long-term debt	$	0.0	$	4,335.9	$	45.4	$	4,381.3	$	0.0	$	3,520.0	$	45.5	$	3,565.5

Revenue Major Geographical Area (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Total revenues:
Total revenue	$ 2,125.5	$ 2,438.1	$ 6,511.0	$ 7,319.5
Net revenue	1,954.6	2,061.4	5,780.1	6,192.1
United States
Total revenues:
Total revenue	1,354.8	1,550.9	4,234.0	4,681.1
Net revenue	1,273.4	1,313.0	3,820.6	3,964.8
United Kingdom
Total revenues:
Total revenue	172.4	201.9	528.8	617.9
Net revenue	162.0	172.1	474.9	522.8
Continental Europe
Total revenues:
Total revenue	174.5	177.6	508.5	565.8
Net revenue	158.0	155.7	453.7	495.8
Asia Pacific
Total revenues:
Total revenue	198.1	262.7	609.9	753.3
Net revenue	166.0	205.0	487.4	588.1
Latin America
Total revenues:
Total revenue	83.2	109.2	235.7	300.3
Net revenue	78.5	97.8	220.1	270.2
Other
Total revenues:
Total revenue	142.5	135.8	394.1	401.1
Net revenue	116.7	117.8	323.4	350.4
International
Total revenues:
Total revenue	770.7	887.2	2,277.0	2,638.4
Net revenue	681.2	748.4	1,959.5	2,227.3
IAN
Total revenues:
Total revenue	1,783.6	1,896.3	5,274.9	5,718.1
Net revenue	1,685.5	1,739.2	4,935.7	5,246.4
IAN \| United States
Total revenues:
Total revenue	1,130.5	1,177.8	3,402.7	3,584.7
Net revenue	1,093.8	1,098.3	3,254.1	3,339.5
IAN \| International
Total revenues:
Total revenue	653.1	718.5	1,872.2	2,133.4
Net revenue	591.7	640.9	1,681.6	1,906.9
CMG
Total revenues:
Total revenue	341.9	541.8	1,236.1	1,601.4
Net revenue	269.1	322.2	844.4	945.7
CMG \| United States
Total revenues:
Total revenue	224.3	373.1	831.3	1,096.4
Net revenue	179.6	214.7	566.5	625.3
CMG \| International
Total revenues:
Total revenue	117.6	168.7	404.8	505.0
Net revenue	$ 89.5	$ 107.5	$ 277.9	$ 320.4

Revenue Contract Balances (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accounts receivable, net of allowance of $90.7 and $40.2, respectively	$ 3,297.4	$ 5,209.2
Accounts receivable, billable to clients	1,817.2	1,934.1
Contract assets	47.5	63.0
Contract liabilities (deferred revenue)	611.3	$ 585.6
Revenue, Remaining Performance Obligation, Amount	$ 667.0

Long-term Debt (Details) - USD ($) $ in Millions	9 Months Ended
Long-term Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,917.9	$ 3,273.9
Long-term Debt, Fair Value	4,381.3	3,565.5
Long-term Debt, Current Maturities	506.6	502.0
Long-term Debt, Excluding Current Maturities	3,411.3	2,771.9
3.50% Notes Due 2020 (less unamortized discount and issuance costs of $0.0 and $0.0, respectively)
Debt Instrument [Line Items]
Par Value	$ 500.0
Maturity Date	Oct. 01, 2020
Interest Rate Stated Percentage	3.50%
Effective Interest Rate	3.89%
Unamortized Discount	$ 0.0
Issuance Cost	0.0
Long-term Debt, Gross	500.0	498.5
3.75% Notes Due 2021 (less unamortized discount and issuance costs of $0.1 and $1.1, respectively)
Debt Instrument [Line Items]
Par Value	$ 500.0
Maturity Date	Oct. 01, 2021
Interest Rate Stated Percentage	3.75%
Effective Interest Rate	3.98%
Unamortized Discount	$ 0.1
Issuance Cost	1.1
Long-term Debt, Gross	498.8	497.9
4.00% Notes Due 2022 (less unamortized discount and issuance costs of $0.4 and $0.4, respectively)
Debt Instrument [Line Items]
Par Value	$ 250.0
Maturity Date	Mar. 15, 2022
Interest Rate Stated Percentage	4.00%
Effective Interest Rate	4.13%
Unamortized Discount	$ 0.4
Issuance Cost	0.4
Long-term Debt, Gross	249.2	248.7
3.75% Notes Due 2023 (less unamortized discount and issuance costs of $0.4 and $1.0, respectively)
Debt Instrument [Line Items]
Par Value	$ 500.0
Maturity Date	Feb. 15, 2023
Interest Rate Stated Percentage	3.75%
Effective Interest Rate	4.32%
Unamortized Discount	$ 0.4
Issuance Cost	1.0
Long-term Debt, Gross	498.6	498.2
4.20% Notes Due 2024 (less unamortized discount and issuance costs of $0.4 and $1.5, respectively)
Debt Instrument [Line Items]
Par Value	$ 500.0
Maturity Date	Apr. 15, 2024
Interest Rate Stated Percentage	4.20%
Effective Interest Rate	4.24%
Unamortized Discount	$ 0.4
Issuance Cost	1.5
Long-term Debt, Gross	498.1	497.8
4.65% Notes Due 2028 (less unamortized discount and issuance costs of $1.4 and $3.6, respectively)
Debt Instrument [Line Items]
Par Value	$ 500.0
Maturity Date	Oct. 01, 2028
Interest Rate Stated Percentage	4.65%
Effective Interest Rate	4.78%
Unamortized Discount	$ 1.4
Issuance Cost	3.6
Long-term Debt, Gross	495.0	494.6
4.75% Notes Due 2030 (less unamortized discount and issuance costs of $3.7 and $5.8, respectively)
Debt Instrument [Line Items]
Par Value	$ 650.0
Maturity Date	Mar. 30, 2030
Interest Rate Stated Percentage	4.75%
Effective Interest Rate	4.92%
Unamortized Discount	$ 3.7
Issuance Cost	5.8
Long-term Debt, Gross	640.5	0.0
5.40% Notes Due 2048 (less unamortized discount and issuance costs of $2.7 and $5.2, respectively)
Debt Instrument [Line Items]
Par Value	$ 500.0
Maturity Date	Oct. 01, 2048
Interest Rate Stated Percentage	5.40%
Effective Interest Rate	5.48%
Unamortized Discount	$ 2.7
Issuance Cost	5.2
Long-term Debt, Gross	492.1	491.9
Other notes payable and capitalized leases
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 45.6	$ 46.3

Credit Facilities (Details) $ in Millions	3 Months Ended	9 Months Ended
Credit Facilities (Details) $ in Millions	Sep. 30, 2020 USD ($) Rate	Sep. 30, 2020 USD ($) Rate
Committed credit facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500.0	$ 1,500.0
Line of Credit Facility, Available Capacity Increase Amount	250.0	250.0
Line of Credit Facility, Limit on Letters of Credit	50.0	50.0
Line of Credit Outstanding, Amount	0.0	0.0
Letters of Credit Outstanding, Amount	9.0	9.0
Line of Credit Facility, Remaining Borrowing Capacity	1,491.0	1,491.0
Uncommitted credit facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	929.8	929.8
Line of Credit Outstanding, Amount	46.3	46.3
Line of Credit Facility, Average Outstanding Amount	$ 78.1
Short-term Debt, Weighted Average Interest Rate, over Time	2.90%
364 Day [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 500.0	$ 500.0
Margin for base rate advances \| Rate	0.25%	0.25%
Margin for Eurocurrency rate advances \| Rate	1.25%	1.25%
Line of Credit Facility, Commitment Fee Percentage \| Rate		0.25%
Line of Credit Facility, Fair Value of Amount Outstanding	$ 0.0	$ 0.0

Commercial Paper (Details) $ in Millions	9 Months Ended
Commercial Paper (Details) $ in Millions	Sep. 30, 2020 USD ($)
Debt Disclosure [Abstract]
Commercial paper borrowing capacity	$ 1,500.0
Debt Instrument, Term	397 days
Commercial Paper	$ 0.0

Debt and Credit Arrangements Debt Transactions (Details) $ in Millions	Sep. 30, 2020 USD ($)
Debt Instrument [Line Items]
Debt Instrument, Fee Amount	$ 2.0
4.75% Notes Due 2030 (less unamortized discount and issuance costs of $3.7 and $5.8, respectively)
Debt Instrument [Line Items]
Par Value	$ 650.0
Debt Instrument, Interest Rate, Stated Percentage	4.75%
Unsecured Debt	$ 640.0
Debt Instrument, Unamortized Discount	3.8
Debt Issuance Costs, Gross	$ 6.2

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share [Abstract]
Net income available to IPG common stockholders	$ 279.7	$ 165.6	$ 238.8	$ 327.1
Weighted-average number of common shares outstanding, Basic	389.6	386.7	388.9	385.8
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	4.3	5.1	3.7	4.5
Weighted-average number of common shares outstanding, Diluted	393.9	391.8	392.6	390.3
Earnings per share, Basic	$ 0.72	$ 0.43	$ 0.61	$ 0.85
Earnings per share, Diluted	$ 0.71	$ 0.42	$ 0.61	$ 0.84

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22583-107794

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 11
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22694-107794

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 45
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121326447&loc=d3e1448-109256

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=109234566&loc=d3e22595-107794

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
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- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Supplementary Data Accrued Liabilities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accrued Liabilities [Abstract]
Salaries, benefits and related expenses	$ 415.6	$ 494.1
Interest	58.7	38.8
Acquisition obligations	49.9	45.7
Restructuring charges	25.9	1.6
Office and related expenses	22.7	26.9
Income Taxes payable	0.0	43.2
Other	71.9	92.5
Total Accrued Liabilities	$ 644.7	$ 742.8

Supplementary Data Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Other Expense, Net [Abstract]
Gain (Loss) on Disposition of Business	$ (8.6)	$ (7.7)	$ (51.8)	$ (19.5)
Other Expense, Net, Other	2.7	(0.3)	2.8	(1.4)
Other Nonoperating Income (Expense)	$ (11.3)	$ (7.4)	$ (54.6)	$ (18.1)

Supplementary Data Share Repurchase Program (Details) $ in Millions	Sep. 30, 2020 USD ($)
Disclosure of Repurchase Agreements [Abstract]
Stock repurchase program, remaining authorized repurchase amount, excluding fees	$ 338.4

Supplementary Data Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Redeemable Noncontrolling Interests [Abstract]
Redeemable noncontrolling interests	$ 152.8	$ 185.4	$ 164.7	$ 167.9
Noncontrolling interest related to redeemable noncontrolling interests	(6.0)	(2.1)
Additions	0.0	24.3
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	(2.5)	(3.1)
Redemption value adjustments	$ (3.4)	$ (1.6)

Income Taxes Change in Unrecognized Tax Benefits (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions	$ 136.2
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	20.0
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 10.0

Income Taxes Indefinite reinvestment assertion (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Changes in non-US tax law [Member]
Indefinite reinvestment assertion [Abstract]
Undistributed Earnings of Foreign Subsidiaries	$ 120.0
Foreign Income Tax Expense (Benefit), Continuing Operations	10.4
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Undistributed Earnings of Foreign Subsidiaries	120.0
Foreign Income Tax Expense (Benefit), Continuing Operations	10.4
Restructuring actions taken within foreign subsidiaries [Member]
Indefinite reinvestment assertion [Abstract]
Undistributed Earnings of Foreign Subsidiaries	46.0
Foreign Income Tax Expense (Benefit), Continuing Operations	3.2
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Undistributed Earnings of Foreign Subsidiaries	46.0
Foreign Income Tax Expense (Benefit), Continuing Operations	$ 3.2

Restructuring Charges (Details) $ in Millions	3 Months Ended		9 Months Ended
Restructuring Charges (Details) $ in Millions	Sep. 30, 2020 USD ($)	Sep. 30, 2019 USD ($)	Sep. 30, 2020 USD ($) personnel	Sep. 30, 2019 USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Number of Positions Eliminated \| personnel			971
Severance and termination costs	$ 17.9	$ 0.0	$ 62.5	$ 22.0
Lease impairment costs	26.6	0.0	92.3	11.9
Other restructuring costs	2.8	0.0	5.1	0.0
Restructuring charges	$ 47.3	$ 0.0	$ 159.9	$ 33.9

Restructuring Charges Segments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ 47.3	$ 0.0	$ 159.9	$ 33.9
Lease impairment costs	26.6	$ 0.0	92.3	$ 11.9
IAN [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	24.9		93.7
Lease impairment costs	14.3		50.1
CMG [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring charges	17.2		53.9
Lease impairment costs	$ 12.8		$ 39.6

Restructuring Charges 2020 Plan Restructuring Activity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Severance and termination costs	$ 17.9	$ 0.0	$ 62.5	$ 22.0
Lease impairment costs	26.6	0.0	92.3	11.9
Other restructuring costs	2.8	0.0	5.1	0.0
Restructuring charges	47.3	$ 0.0	159.9	$ 33.9
Restructuring Reserve	27.5		27.5
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	27.5		27.5
Lease impairment costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0.0		0.0
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 0.0		0.0
Non-cash Items [Member]
Restructuring Cost and Reserve [Line Items]
Severance and termination costs			1.0
Lease impairment costs			92.3
Other restructuring costs			2.4
Restructuring charges			95.7
Cash Payments [Member]
Restructuring Cost and Reserve [Line Items]
Severance and termination costs			34.0
Lease impairment costs			0.0
Other restructuring costs			2.7
Restructuring charges			$ 36.7

Incentive Compensation Plans Stock-based Compensation Awards (Details) shares in Millions	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Restricted stock (shares or units)
Incentive Compensation Plans
Granted awards	2.3
Weighted average grant date fair value \| $ / shares	$ 20.74
Performance-based stock (shares)
Incentive Compensation Plans
Granted awards	2.4
Weighted average grant date fair value \| $ / shares	$ 18.69
Total stock-based compensation awards
Incentive Compensation Plans
Granted awards	4.7

Incentive Compensation Plans Plan Information (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020 USD ($)
Share-based Payment Arrangement [Abstract]
Performance cash awards granted during the period target value	$ 43.3
Restricted cash awards granted during the period target value	$ 36.2
Performance based cash award vesting period	3 years
Restricted cash awards vesting period floor	2 years
Cash awards vesting period	3 years

Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	$ (1.3)	$ (1.4)
Accumulated Other Comprehensive (Income) Loss, Defined Benefit Plan, after Tax	(223.7)	(213.9)	$ (228.8)	$ (219.4)
Foreign currency translation adjustment:
Balance at beginning of period	(697.7)	(716.4)
Other comprehensive (loss) income before reclassifications	(56.2)	(37.2)
Amount reclassified from accumulated other comprehensive loss, net of tax	9.3	5.2
Balance at end of period	(744.6)	(748.4)
Derivative Instrument:
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	2.7	0.0
Defined Benefit Pension and Other Postretirement Plans
Balance at beginning of period	(3.5)	(5.3)
Other comprehensive (loss) income before reclassifications	0.8	1.6
Amount reclassified from accumulated other comprehensive loss, net of tax	4.3	3.9
Balance at end of period	0.5	(3.9)
Total:
Balance at beginning of period	(930.0)	(941.1)
Other comprehensive (loss) income before reclassifications	(52.7)	(35.6)
Amount reclassified from accumulated other comprehensive loss, net of tax	14.9	10.5
Balance at end of period	$ (967.8)	$ (966.2)

Accumulated Other Comprehensive Loss, Net of Tax Reclassification of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ 9.6	$ (0.6)	$ 9.3	$ 5.2
Losses on derivative instruments	0.6	0.6	1.8	1.8
Amortization of defined benefit pension and postretirement plan items	1.8	1.7	5.5	5.0
Tax effect	(0.6)	(0.6)	(1.7)	(1.5)
Reclassifications from accumulated other comprehensive loss to earnings, net of tax	$ 11.4	$ 1.1	$ 14.9	$ 10.5

- Definition

Amount of tax expense (benefit) allocated to other comprehensive income (loss).

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+ Details

Employee Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Employee Benefits (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Domestic Plan [Member]
Defined Pension and Postretirement Benefit Plans
Service cost	$ 0.0	$ 0.0	$ 0.0	$ 0.0
Interest cost	0.9	1.2	2.8	3.6
Expected return on plan assets	(1.4)	(1.5)	(4.2)	(4.4)
Amortization of:
Prior Service Cost (Credit)	0.0	0.0	0.0	0.0
Unrecognized actuarial losses	0.4	0.5	1.2	1.4
Net periodic cost	(0.1)	0.2	(0.2)	0.6
Pension plan - employer contributions			1.3
Pension plan - estimated employer contributions for remainder of current fiscal year	1.0		1.0
Foreign Plan [Member]
Defined Pension and Postretirement Benefit Plans
Service cost	1.2	1.2	3.5	3.5
Interest cost	2.4	3.0	7.0	9.3
Expected return on plan assets	(4.7)	(4.2)	(14.0)	(13.0)
Amortization of:
Prior Service Cost (Credit)	0.0	0.0	0.1	0.1
Unrecognized actuarial losses	1.4	1.2	4.1	3.6
Net periodic cost	0.3	1.2	0.7	3.5
Pension plan - employer contributions			13.9
Pension plan - estimated employer contributions for remainder of current fiscal year	4.0		4.0
Domestic Postretirement Benefit Plan
Defined Pension and Postretirement Benefit Plans
Service cost	0.0	0.0	0.0	0.0
Interest cost	0.2	0.3	0.6	0.9
Expected return on plan assets	0.0	0.0	0.0	0.0
Amortization of:
Prior Service Cost (Credit)	(0.1)	0.0	(0.1)	(0.1)
Unrecognized actuarial losses	0.1	0.0	0.2	0.0
Net periodic cost	$ 0.2	$ 0.3	$ 0.7	$ 0.8

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Segments:
Total revenue	$ 2,125.5	$ 2,438.1	$ 6,511.0	$ 7,319.5
Net revenue	1,954.6	2,061.4	5,780.1	6,192.1
Segment EBITA	269.9	302.0	429.4	659.3
Amortization of acquired intangibles	21.3	21.7	64.4	64.6
Depreciation	49.7	47.3	152.5	148.5
Capital expenditures	40.1	53.7	112.0	133.8
Total assets	16,074.7		16,074.7		$ 17,751.9
Operating income	248.6	280.3	365.0	594.7
Total (expenses) and other income	(56.0)	(47.6)	(177.3)	(144.2)
Income before income taxes	192.6	232.7	187.7	450.5
IAN
Segments:
Total revenue	1,783.6	1,896.3	5,274.9	5,718.1
Net revenue	1,685.5	1,739.2	4,935.7	5,246.4
Segment EBITA	260.0	262.3	459.4	640.7
Amortization of acquired intangibles	20.2	20.6	61.2	61.3
Depreciation	43.8	40.9	133.8	127.9
Capital expenditures	31.7	44.5	85.2	106.9
Total assets	13,307.4		13,307.4		15,155.2
CMG
Segments:
Total revenue	341.9	541.8	1,236.1	1,601.4
Net revenue	269.1	322.2	844.4	945.7
Segment EBITA	25.9	50.7	21.9	94.0
Amortization of acquired intangibles	1.1	1.1	3.2	3.3
Depreciation	5.0	5.2	15.5	15.2
Capital expenditures	1.2	4.0	4.1	7.9
Total assets	1,505.4		1,505.4		1,725.5
Corporate and Other
Segments:
Segment EBITA	(16.0)	(11.0)	(51.9)	(75.4)
Amortization of acquired intangibles	0.0	0.0	0.0	0.0
Depreciation	0.9	1.2	3.2	5.4
Capital expenditures	7.2	$ 5.2	22.7	$ 19.0
Total assets	$ 1,261.9		$ 1,261.9		$ 871.2

Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2020

Dec. 31, 2019

Fair value assets and liabilities measured on recurring and nonrecurring basis

Contingent acquisition liability, total change

$ (19.4)

Long-term Debt, Fair Value

$ 4,381.3

$ 3,565.5

Discount rate floor contingent acquisition obligations

1.00%

Discount rate ceiling contingent acquisition obligations

4.00%

Discount rate floor long-term debt

0.50%

Discount rate ceiling long-term debt

3.50%

Level 1

Fair value assets and liabilities measured on recurring and nonrecurring basis

Cash equivalents

$ 103.1

786.0

Contingent acquisition obligations

^[1]

0.0

Long-term Debt, Fair Value

0.0

Level 2

Fair value assets and liabilities measured on recurring and nonrecurring basis

Cash equivalents

0.0

Contingent acquisition obligations

^[1]

0.0

Long-term Debt, Fair Value

4,335.9

3,520.0

Level 3

Fair value assets and liabilities measured on recurring and nonrecurring basis

Cash equivalents

0.0

Contingent acquisition obligations

^[1]

94.7

114.1

Long-term Debt, Fair Value

45.4

45.5

Fair Value, Total [Member]

Fair value assets and liabilities measured on recurring and nonrecurring basis

Cash equivalents

103.1

786.0

Contingent acquisition obligations

^[1]

94.7

114.1

Long-term Debt, Fair Value

$ 4,381.3

$ 3,565.5

[1]

Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional noncontrolling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $19.4 from December 31, 2019 to September 30, 2020 is primarily due to acquisition payments, partially offset by valuation adjustments, an increase in deferred acquisition payments and exercises of put options. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.

Commitments and Contingencies (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Lease guarantees	$ 658.0	$ 739.1
Credit facility guarantees	275.1	293.8
Cash pooling guarantees	$ 213.7	$ 207.7