Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2014 | Jun. 30, 2013 | |
Entity Information [Line Items] | ' | ' | ' |
Entity Registrant Name | 'OMNICOM GROUP INC. | ' | ' |
Entity Central Index Key | '0000029989 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Document Type | '10-K | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Amendment Flag | 'false | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 258,204,902 | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Public Float | ' | ' | $16,138,873,000 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $2,710.50 | $2,678.30 |
Short-term investments, at cost | 18.2 | 20.6 |
Accounts receivable, net of allowance for doubtful accounts of $32.6 and $35.9 | 6,632.60 | 6,958.20 |
Work in process | 1,288 | 1,008.40 |
Other current assets | 1,003 | 995.9 |
Total Current Assets | 11,652.30 | 11,661.40 |
Property and Equipment at cost, less accumulated depreciation of $1,230.1 and $1,234.8 | 737.4 | 723.8 |
Equity Method Investments | 131.8 | 155.2 |
Goodwill | 8,916 | 8,844.20 |
Intangible Assets, net of accumulated amortization of $552.3 and $498.0 | 386 | 456.1 |
Other Assets | 275.2 | 311.2 |
TOTAL ASSETS | 22,098.70 | 22,151.90 |
Current Liabilities: | ' | ' |
Accounts payable | 8,358.90 | 8,296.70 |
Customer advances | 1,242.20 | 1,231.50 |
Current portion of debt | 0.4 | 0.4 |
Short-term borrowings | 5.9 | 6.4 |
Taxes payable | 293.3 | 264.4 |
Other current liabilities | 2,377 | 2,076.40 |
Total Current Liabilities | 12,277.70 | 11,875.80 |
Long-Term Notes Payable | 3,780.70 | 3,789.10 |
Convertible Debt | 252.7 | 659.4 |
Long-Term Liabilities | 685.1 | 739.9 |
Long-Term Deferred Tax Liabilities | 832.6 | 933 |
Commitments and Contingent Liabilities (See Note 17) | ' | ' |
Temporary Equity - Redeemable Noncontrolling Interests | 202 | 198.4 |
Shareholders’ Equity: | ' | ' |
Preferred stock, $1.00 par value, 7.5 million shares authorized, none issued | 0 | 0 |
Common stock, $0.15 par value, 1.0 billion shares authorized, 397.2 million shares issued, 257.6 million and 262.0 million shares outstanding | 59.6 | 59.6 |
Additional paid-in capital | 817.1 | 836.6 |
Retained earnings | 8,961.20 | 8,394.40 |
Accumulated other comprehensive income (loss) | -191.6 | -129.5 |
Treasury stock, at cost, 139.6 million and 135.2 million shares | -6,063.90 | -5,700.30 |
Total Shareholders’ Equity | 3,582.40 | 3,460.80 |
Noncontrolling interests | 485.5 | 495.5 |
Total Equity | 4,067.90 | 3,956.30 |
TOTAL LIABILITIES AND EQUITY | $22,098.70 | $22,151.90 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, except Share data, unless otherwise specified | ||
Allowance for doubtful accounts | $32.60 | $35.90 |
Accumulated depreciation | 1,230.10 | 1,234.80 |
Intangible assets, accumulated amortization | $552.30 | $498 |
Preferred stock, par value | $1 | $1 |
Preferred stock, shares authorized | 7,500,000 | 7,500,000 |
Preferred stock, shares issued | 0 | 0 |
Common stock, par value | $0.15 | $0.15 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 397,200,000 | 397,200,000 |
Common stock, shares outstanding | 257,600,000 | 262,000,000 |
Treasury stock, shares | 139,600,000 | 135,200,000 |
Consolidated_Statements_of_Inc
Consolidated Statements of Income (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue | $14,584.50 | $14,219.40 | $13,872.50 |
Operating Expenses | 12,759.20 | 12,415.20 | 12,201.40 |
Operating Income | 1,825.30 | 1,804.20 | 1,671.10 |
Interest Expense | 197.2 | 179.7 | 158.1 |
Interest Income | 32.8 | 35.1 | 36 |
Income Before Income Taxes and Income (Loss) From Equity Method Investments | 1,660.90 | 1,659.60 | 1,549 |
Income Tax Expense | 565.2 | 527.1 | 505.8 |
Income (Loss) From Equity Method Investments | 15.9 | -15 | 17.2 |
Net Income | 1,111.60 | 1,117.50 | 1,060.40 |
Net Income Attributed To Noncontrolling Interests | -120.5 | -119.2 | -107.8 |
Net Income - Omnicom Group Inc. | $991.10 | $998.30 | $952.60 |
Net Income Per Share - Omnicom Group Inc.: | ' | ' | ' |
Basic | $3.73 | $3.64 | $3.38 |
Diluted | $3.71 | $3.61 | $3.33 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income | $1,111.60 | $1,117.50 | $1,060.40 |
Unrealized gain (loss) on available-for-sale securities, net of income taxes of $0.2 and $0.2 and ($0.4) for 2013, 2012 and 2011, respectively | 0.4 | 0.3 | -0.6 |
Foreign currency translation adjustment, net of income taxes of ($62.3) and $41.3 and ($41.2) for 2013, 2012 and 2011, respectively | -120.6 | 80.3 | -79.7 |
Defined benefit pension and postemployment plans adjustment, net of income taxes of $14.1 and ($14.5) and ($9.1) for 2013, 2012 and 2011, respectively | 21 | -21.7 | -13.6 |
Other Comprehensive Income (Loss) | -99.2 | 58.9 | -93.9 |
Comprehensive Income | 1,012.40 | 1,176.40 | 966.5 |
Comprehensive Income Attributed To Noncontrolling Interests | -83.4 | -115.9 | -99.2 |
Comprehensive Income - Omnicom Group Inc. | $929 | $1,060.50 | $867.30 |
Consolidated_Statements_of_Com1
Consolidated Statements of Comprehensive Income (Parenthetical) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Unrealized gain on available-for-sale securities, income taxes | $0.20 | $0.20 | ($0.40) |
Foreign currency translation adjustment, income taxes | -62.3 | 41.3 | -41.2 |
Defined benefit pension and postemployment plans adjustment, income taxes | $14.10 | ($14.50) | ($9.10) |
Consolidated_Statements_of_Equ
Consolidated Statements of Equity (USD $) | Total | Common Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | Treasury Stock | Total Shareholders’ Equity | Noncontrolling Interests |
In Millions | ||||||||
Balance at Dec. 31, 2010 | $3,893.10 | $59.60 | $1,271.90 | $7,052.50 | ($106.40) | ($4,697.10) | $3,580.50 | $312.60 |
Balance, shares at Dec. 31, 2010 | ' | 397.2 | ' | ' | ' | ' | ' | ' |
Net Income | 1,060.40 | ' | ' | 952.6 | ' | ' | 952.6 | 107.8 |
Other comprehensive income | -93.9 | ' | ' | ' | -85.3 | ' | -85.3 | -8.6 |
Dividends to noncontrolling interests | -101.3 | ' | ' | ' | ' | ' | ' | -101.3 |
Acquisition of noncontrolling interests | -54.8 | ' | -32.8 | ' | ' | ' | -32.8 | -22 |
Increase in noncontrolling interests from business combinations | 187 | ' | ' | ' | ' | ' | ' | 187 |
Change in temporary equity | -5 | ' | -5 | ' | ' | ' | -5 | ' |
Common stock dividends declared | -281 | ' | ' | -281 | ' | ' | -281 | ' |
Share-based compensation | 74.5 | ' | 74.5 | ' | ' | ' | 74.5 | ' |
Stock issued, share-based compensation | 149.8 | ' | -265.1 | ' | ' | 414.9 | 149.8 | ' |
Treasury stock acquired | -849 | ' | ' | ' | ' | -849 | -849 | ' |
Balance at Dec. 31, 2011 | 3,979.80 | 59.6 | 1,043.50 | 7,724.10 | -191.7 | -5,131.20 | 3,504.30 | 475.5 |
Balance, shares at Dec. 31, 2011 | ' | 397.2 | ' | ' | ' | ' | ' | ' |
Net Income | 1,117.50 | ' | ' | 998.3 | ' | ' | 998.3 | 119.2 |
Other comprehensive income | 58.9 | ' | ' | ' | 62.2 | ' | 62.2 | -3.3 |
Dividends to noncontrolling interests | -98.4 | ' | ' | ' | ' | ' | ' | -98.4 |
Acquisition of noncontrolling interests | -49.3 | ' | -28.1 | ' | ' | ' | -28.1 | -21.2 |
Increase in noncontrolling interests from business combinations | 23.7 | ' | ' | ' | ' | ' | ' | 23.7 |
Change in temporary equity | 4.7 | ' | 4.7 | ' | ' | ' | 4.7 | ' |
Common stock dividends declared | -328 | ' | ' | -328 | ' | ' | -328 | ' |
Share-based compensation | 80.8 | ' | 80.8 | ' | ' | ' | 80.8 | ' |
Stock issued, share-based compensation | 303.1 | ' | -264.3 | ' | ' | 567.4 | 303.1 | ' |
Treasury stock acquired | -1,136.50 | ' | ' | ' | ' | -1,136.50 | -1,136.50 | ' |
Balance at Dec. 31, 2012 | 3,956.30 | 59.6 | 836.6 | 8,394.40 | -129.5 | -5,700.30 | 3,460.80 | 495.5 |
Balance, shares at Dec. 31, 2012 | ' | 397.2 | ' | ' | ' | ' | ' | ' |
Net Income | 1,111.60 | ' | ' | 991.1 | ' | ' | 991.1 | 120.5 |
Other comprehensive income | -99.2 | ' | ' | ' | -62.1 | ' | -62.1 | -37.1 |
Dividends to noncontrolling interests | -100.6 | ' | ' | ' | ' | ' | ' | -100.6 |
Acquisition of noncontrolling interests | -25 | ' | -16.8 | ' | ' | ' | -16.8 | -8.2 |
Increase in noncontrolling interests from business combinations | 15.4 | ' | ' | ' | ' | ' | ' | 15.4 |
Change in temporary equity | -3.6 | ' | -3.6 | ' | ' | ' | -3.6 | ' |
Shares issued in connection with conversion of convertible notes | 34.5 | ' | -34.3 | ' | ' | 68.8 | 34.5 | ' |
Common stock dividends declared | -424.3 | ' | ' | -424.3 | ' | ' | -424.3 | ' |
Share-based compensation | 86.3 | ' | 86.3 | ' | ' | ' | 86.3 | ' |
Stock issued, share-based compensation | 91.8 | ' | -51.1 | ' | ' | 142.9 | 91.8 | ' |
Treasury stock acquired | -575.3 | ' | ' | ' | ' | -575.3 | -575.3 | ' |
Balance at Dec. 31, 2013 | $4,067.90 | $59.60 | $817.10 | $8,961.20 | ($191.60) | ($6,063.90) | $3,582.40 | $485.50 |
Balance, shares at Dec. 31, 2013 | ' | 397.2 | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Equ1
Consolidated Statements of Equity (Parenthetical) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Common stock dividends declared, per share | $1.60 | $1.20 | $1 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Cash Flows from Operating Activities: | ' | ' | ' |
Net Income | $1,111.60 | $1,117.50 | $1,060.40 |
Adjustments to reconcile net income to net cash provided by operating activities: | ' | ' | ' |
Depreciation | 184 | 181.6 | 182.3 |
Amortization of intangible assets | 100.8 | 101.1 | 91.4 |
Impairment charge on equity method investment, net | 10.7 | 29.2 | 0 |
Remeasurement gain, equity interest in Clemenger Group | 0 | 0 | -123.4 |
Remeasurement gain, acquisition of controlling interests in affiliates | -1.6 | -2.1 | -15.1 |
Share-based compensation | 86.3 | 80.8 | 74.5 |
Excess tax benefit from share-based compensation | -37.8 | -85.3 | -30.4 |
Other, net | 3.7 | 3.3 | 46.4 |
Change in operating capital | 351.3 | 25.2 | 29.2 |
Net Cash Provided By Operating Activities | 1,809 | 1,451.30 | 1,315.30 |
Cash Flows from Investing Activities: | ' | ' | ' |
Payments to acquire property and equipment | -212 | -226.3 | -185.5 |
Payments to acquire businesses and interests in affiliates, net of cash acquired | -32.8 | -132.7 | -403.7 |
Proceeds from investments, net | 16.6 | 8.6 | 14.6 |
Net Cash Used In Investing Activities | -228.2 | -350.4 | -574.6 |
Cash Flows from Financing Activities: | ' | ' | ' |
Repayments of short-term debt | -0.4 | -3.3 | -43.1 |
Proceeds from borrowings | 0 | 1,273.20 | 0 |
Redemption of convertible debt | -406.7 | 0 | -0.1 |
Payments of dividends | -318.4 | -397.8 | -269.1 |
Payments for repurchases of common stock | -575.3 | -1,136.50 | -849 |
Proceeds from stock plans | 52.3 | 219.2 | 117.5 |
Payments for acquisition of additional noncontrolling interests | -8.9 | -32 | -38.8 |
Payments of dividends to noncontrolling interest shareholders | -100.6 | -98.4 | -101.3 |
Payments of contingent purchase price obligations | -70.5 | -32.2 | -19.7 |
Excess tax benefit from share-based compensation | 37.8 | 85.3 | 30.4 |
Other, net | -29.1 | -97.6 | -32.5 |
Net Cash Used In Financing Activities | -1,419.80 | -220.1 | -1,205.70 |
Effect of foreign exchange rate changes on cash and cash equivalents | -128.8 | 16.3 | -42.5 |
Net Increase (Decrease) in Cash and Cash Equivalents | 32.2 | 897.1 | -507.5 |
Cash and Cash Equivalents at the Beginning of Year | 2,678.30 | 1,781.20 | 2,288.70 |
Cash and Cash Equivalents at the End of Year | $2,710.50 | $2,678.30 | $1,781.20 |
Presentation_of_Financial_Stat
Presentation of Financial Statements | 12 Months Ended |
Dec. 31, 2013 | |
Presentation of Financial Statements [Abstract] | ' |
Presentation of Financial Statements | ' |
Presentation of Financial Statements | |
The terms “Omnicom,” “the Company,” “we,” “our” and “us” each refer to Omnicom Group Inc. and our subsidiaries, unless the context indicates otherwise. The accompanying consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP” or “GAAP”). All intercompany balances and transactions have been eliminated. | |
The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the amounts of assets, liabilities, revenue and expenses that are reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates and assumptions. |
Pending_Business_Combination
Pending Business Combination | 12 Months Ended |
Dec. 31, 2013 | |
Pending Business Combination [Abstract] | ' |
Pending Business Combination | ' |
Pending Business Combination | |
On July 27, 2013, the Company and Publicis Groupe S.A. (“Publicis”) entered into a Business Combination Agreement (the “Business Combination Agreement”) pursuant to which the Company and Publicis agreed, subject to the terms and conditions of the Business Combination Agreement, to combine their respective businesses (the “Business Combination”). In the Business Combination, Publicis will merge (the “Publicis Merger”) with and into Publicis Omnicom Group N.V., a newly-formed Dutch holding company (“Publicis Omnicom Group” or “HoldCo”), with Publicis Omnicom Group being the surviving entity in the Publicis Merger, and immediately after consummation of the Publicis Merger, a corporation wholly-owned by Publicis Omnicom Group will merge (the “Omnicom Merger” and together with the Publicis Merger, the “Mergers”) with and into the Company, with the Company being the surviving corporation in the Omnicom Merger. | |
In the Publicis Merger, each issued and outstanding share of Publicis will be exchanged for 1.000000 ordinary share of Publicis Omnicom Group. In addition, prior to completion of the Publicis Merger, Publicis intends to declare and pay a special dividend, in cash, in an amount equal to €1.00 per Publicis share (the “Publicis Transaction Dividend”). In the Omnicom Merger, each share of common stock of the Company will be converted into the right to receive 0.813008 of a Publicis Omnicom Group ordinary share, together with cash in lieu of fractional shares, subject to adjustment to account for certain changes in outstanding shares and certain excluded asset values as set forth in the Business Combination Agreement. Similarly, prior to completion of the Omnicom Merger, the Company intends to declare and pay a special cash dividend of $2.00 per share of the Company’s outstanding common stock (the “Omnicom Transaction Dividend” and, together with the Publicis Transaction Dividend, the “Transaction Dividends”), subject to adjustment to account for certain changes in outstanding shares of the parties and certain excluded asset values, in each case as set forth in the Business Combination Agreement, and, if necessary, to equalize the cumulative amount of regular dividends paid by the Company after July 27, 2013 with the cumulative amount of regular Publicis dividends paid after July 27, 2013. However, dividends of up to $0.80 per share in the aggregate paid to holders of the Company's common stock in respect of record dates after July 27, 2013 and before the Mergers are not included in this equalization. The payment of the Transaction Dividends is also subject to applicable law. | |
Completion of the transactions contemplated by the Business Combination Agreement (which include the Mergers, the Publicis Transaction Dividend, and the Omnicom Transaction Dividend, collectively, the “Transactions”) will require resolution of all open issues, complexities and challenges and will be subject to the satisfaction or waiver, if legally permitted, of certain conditions including (a) approval and adoption of the Business Combination Agreement and the Omnicom Merger by the holders of two-thirds of the outstanding shares of common stock of the Company, approval of the Cross-Border Merger Terms (as described in the Business Combination Agreement), and the Publicis Merger by the holders of two-thirds of the voting rights attached to the Publicis shares present at a meeting of the Publicis shareholders, and the approval of the Publicis Transaction Dividend by the holders of a majority of the voting rights attached to the Publicis shares present at a meeting of the Publicis shareholders; (b) approval by requisite governmental regulators and authorities, including approvals under applicable competition laws; (c) the listing of the Publicis Omnicom Group ordinary shares on applicable stock exchanges; (d) the absence of any law or order prohibiting the completion of the Transactions; and (e) the absence of a material adverse effect on either the Company or Publicis. Therefore, completion of the Transactions is unlikely to occur before the third quarter of 2014. | |
The completion of the Transactions contemplated by the Business Combination Agreement will have a material effect on our future results of operations and financial position. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||||
Significant Accounting Policies | ' | |||||||||||
Significant Accounting Policies | ||||||||||||
Revenue Recognition. We recognize revenue in accordance with FASB Accounting Standards Codification (“FASB ASC”) Topic 605, Revenue Recognition, and applicable SEC Staff Accounting Bulletins. Substantially all of our revenue is derived from fees for services based on a rate per hour or equivalent basis. Revenue is realized when the service is performed in accordance with the client arrangement and upon the completion of the earnings process. Prior to recognizing revenue, persuasive evidence of an arrangement must exist, the sales price must be fixed or determinable, delivery, performance and acceptance must be in accordance with the client arrangement and collection must be reasonably assured. These principles are the foundation of our revenue recognition policy and apply to all client arrangements in each of our service disciplines: advertising, customer relationship management, public relations and specialty communications. Certain of our businesses earn a portion of their revenue as commissions based on performance in accordance with client arrangements. Because the services that we provide across each of our disciplines are similar and delivered to clients in similar ways, all of the key elements of our revenue recognition policy apply to client arrangements in each of our four disciplines. Revenue is recorded net of sales, use and value added taxes. | ||||||||||||
In the majority of our businesses, we act as an agent and record revenue equal to the net amount retained when the fee or commission is earned. Although we may bear credit risk with respect to these activities, the arrangements with our clients are such that we act as an agent on their behalf. In these cases, costs incurred with third-party suppliers are excluded from our revenue. In certain arrangements, we act as principal and we contract directly with third-party suppliers and media providers and production companies and we are responsible for payment. In these circumstances, revenue is recorded at the gross amount billed since revenue has been earned for the sale of goods or services. | ||||||||||||
Some of our client arrangements include performance incentive provisions designed to link a portion of our revenue to our performance relative to quantitative and qualitative goals. We recognize performance incentives in revenue when specific quantitative goals are achieved, or when our performance against qualitative goals is determined by our clients. | ||||||||||||
Operating Expenses. Operating expenses are comprised of salary and service costs and office and general expenses. Salary and service costs consist of employee compensation and related costs and direct service costs. Office and general costs consist of rent and occupancy costs, technology costs, depreciation and amortization and other overhead expenses. Beginning in the second half of 2013 we incurred $41.4 million of expenses in connection with the pending merger with Publicis, which are primarily comprised of professional fees. The merger expenses are shown as a separate component of operating expenses. | ||||||||||||
Operating expenses for the three years ended December 31, 2013 were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Salary and service costs | $ | 10,724.40 | $ | 10,406.80 | $ | 10,276.90 | ||||||
Office and general expenses | 1,993.40 | 2,008.40 | 1,924.50 | |||||||||
Merger expenses | 41.4 | — | — | |||||||||
Operating expenses | $ | 12,759.20 | $ | 12,415.20 | $ | 12,201.40 | ||||||
Cash and Cash Equivalents. Cash and cash equivalents consist of cash held in banks and interest-bearing time deposits with original maturities of three months or less. We have policies governing counterparty credit risk with financial institutions that hold our cash and cash equivalents and we have deposit limits for each financial institution. | ||||||||||||
Short-Term Investments. Short-term investments primarily consist of time deposits with financial institutions that we expect to convert into cash within our current operating cycle, generally one year. Short-term investments are carried at cost, which approximates fair value. | ||||||||||||
Work in Process. Work in process consists of costs incurred on behalf of clients in providing advertising, marketing and corporate communications services, including media and production costs, and fees that have not yet been billed. Media and production costs are billed during the production process and fees are generally billed within the next 30 days. | ||||||||||||
Available-for-Sale Securities. Investments in publicly traded equity securities are classified as available-for-sale securities. These investments are carried at fair value using quoted market prices and are included in other assets in our balance sheet. Unrealized gains and losses are recorded as a component of accumulated other comprehensive income. The carrying value of the available-for-sale securities was $4.9 million and $3.9 million at December 31, 2013 and 2012, respectively. | ||||||||||||
Property and Equipment. Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets ranging from seven to ten years for furniture and three to five years for equipment. Leasehold improvements are amortized on a straight-line basis over the shorter of the related lease term or the estimated useful life of the asset. Property under capital lease is depreciated on a straight-line basis over the lease term. | ||||||||||||
Equity Method Investments. Investments in non-public companies in which we own less than a 50% equity interest and where we exercise significant influence over the operating and financial policies of the investee are accounted for using the equity method of accounting. Our proportionate share of the net income (loss) of the equity method investments is included in our results of operations. Dividends received reduce the carrying value of our investment. The excess of the cost of our investment over our proportionate share of the fair value of the net assets of the investee at the acquisition date is recognized as goodwill and included in the carrying amount of the investment. Goodwill in our equity method investments is not amortized. We periodically review these investments to determine if there has been an other-than-temporary decline in | ||||||||||||
carrying value. A variety of factors are considered when determining if a decline in carrying value is other-than-temporary, including, among others, the financial condition and prospects of the investee, as well as our investment intent. | ||||||||||||
Cost Method Investments. Investments in non-public companies in which we own less than a 20% equity interest and where we do not exercise significant influence over the operating and financial policies of the investee are accounted for using the cost method of accounting. We periodically review these investments to determine if there has been an other-than-temporary decline in fair value below carrying value. A variety of factors are considered when determining if a decline in fair value below carrying value is other-than-temporary, including, among others, the financial condition and prospects of the investee, as well as our investment intent. Cost method investments are carried at cost, which approximates or is less than fair value and are included in other assets in our balance sheet. The carrying value of our cost method investments was $22.2 million and $23.1 million at December 31, 2013 and 2012, respectively. | ||||||||||||
Goodwill and Intangible Assets. Goodwill represents the excess of the acquisition cost over the fair value of the net assets acquired. Goodwill is not amortized, but is periodically tested for impairment. Identifiable intangible assets, which consist primarily of customer relationships, including the related customer contracts and trade names, are amortized over their estimated useful lives ranging from five to ten years. We consider a number of factors in determining the useful lives and amortization method, including the pattern in which the economic benefits are consumed, as well as trade name recognition and customer attrition. No residual value is estimated for the identified intangible assets. | ||||||||||||
We review the carrying value of goodwill for impairment at least annually as of the end of the second quarter and whenever events or circumstances indicate the carrying value may not be recoverable. There is a two-step test for goodwill impairment. In Step 1, we compare the fair value of each reporting unit to its carrying value, including goodwill. If the fair value of the reporting unit is equal to or greater than its carrying value, goodwill is not impaired and no further testing is required. If the carrying value exceeds fair value, then Step 2 of the impairment test is performed in order to determine if the implied fair value of the reporting unit’s goodwill exceeds the carrying value of that goodwill. Goodwill is impaired when the carrying value of a reporting unit's goodwill exceeds the implied fair value of its goodwill. Impaired goodwill is written down to its implied fair value with a charge recorded in results of operations in the period the impairment is identified. | ||||||||||||
We identified our regional reporting units as components of our operating segments, which are our five networks. The regional reporting units of each agency network are responsible for the agencies in their region. They report to the segment managers and facilitate the administrative and logistical requirements of our client-centric strategy for delivering services to clients in their regions. We have concluded that for each of our operating segments, their regional reporting units had similar economic characteristics and should be aggregated for purposes of testing goodwill for impairment at the operating segment level. Our conclusion was based on a detailed analysis of the aggregation criteria set forth in FASB ASC Topic 280, Segment Reporting, and the guidance set forth in FASB ASC Topic 350, Intangibles - Goodwill and Other. Consistent with our fundamental business strategy, the agencies within our regional reporting units serve similar clients in similar industries, and in many cases the same clients. In addition, the agencies within our regional reporting units have similar economic characteristics. The main economic components of each agency are employee compensation and related costs and direct service costs and office and general costs, which include rent and occupancy costs, technology costs that are generally limited to personal computers, servers and off-the-shelf software and other overhead costs. Finally, the expected benefits of our acquisitions are typically shared across multiple agencies and regions as they work together to integrate the acquired agency into our client service strategy. We use the following valuation methodologies to determine the fair value of our reporting units: (1) the income approach which utilizes discounted expected future cash flows, (2) comparative market participant multiples of EBITDA (earnings before interest, taxes, depreciation and amortization) and (3) when available, consideration of recent and similar acquisition transactions. | ||||||||||||
Based on the results of our annual impairment test, we concluded that our goodwill at June 30, 2013 and 2012 was not impaired because the fair value of each of our reporting units were substantially in excess of their respective net book value. Subsequent to our annual impairment test of goodwill at June 30, 2013, there were no events or circumstances that triggered the need for an interim impairment test. | ||||||||||||
Temporary Equity - Redeemable Noncontrolling Interests. Owners of noncontrolling equity interests in certain of our subsidiaries have the right in certain circumstances to require us to purchase all or a portion of their equity interests at fair value as defined in the applicable agreements. The intent of the parties is to approximate fair value at the time of redemption by using a multiple of earnings that is consistent with generally accepted valuation practices used by market participants in our industry. These contingent redemption rights are embedded in the equity security at issuance, are not free-standing instruments, do not represent a de facto financing and are not under our control. | ||||||||||||
Treasury Stock. Repurchases of our common stock are accounted for at cost. Reissued treasury shares, primarily in connection with share-based compensation plans, are accounted for at average cost. Gains or losses on reissued treasury shares are accounted for as additional paid-in capital and do not affect our results of operations. | ||||||||||||
Business Combinations. Business combinations are accounted for using the acquisition method and accordingly, the assets acquired, including identified intangible assets, the liabilities assumed and any noncontrolling interest in the acquired business are recorded at their acquisition date fair values. In circumstances where control is obtained and less than 100% of an entity is acquired, we record 100% of the goodwill acquired. Acquisition-related costs, including advisory, legal, accounting, valuation and other costs are expensed as incurred. Certain of our acquisitions include an initial payment at closing and provide for future additional contingent purchase price payments (earn-outs). Contingent purchase price obligations are recorded as a liability at the acquisition date fair value using the discount rate in affect at the acquisition date. Subsequent changes in the fair value of the liability is recorded in our results of operations. Generally, there is no cap on the amount that can be earned under the contingent purchase price arrangements and payments are not contingent upon future employment. The results of operations of acquired businesses are included in our results of operations from the acquisition date. | ||||||||||||
Subsidiary and Equity Investment Stock Transactions. Transactions involving the purchase, sale or issuance of stock of a subsidiary where control is maintained are recorded as an increase or decrease in additional paid-in capital. Gains and losses from transactions involving subsidiary stock where control is lost are recorded in results of operations. Gains and losses from transactions involving stock of an equity investment are recorded in results of operations until control is achieved. In circumstances where the purchase of shares of an equity investment results in obtaining control, the existing carrying value of the investment is remeasured to the acquisition date fair value and any gain or loss is recognized in results of operations. | ||||||||||||
Foreign Currency Translation and Transactions. Substantially all of our foreign subsidiaries use their local currency as their functional currency. Assets and liabilities are translated into U.S. Dollars at the exchange rate on the balance sheet date and revenue and expenses are translated at the average exchange rate for the period. The impact of the translation adjustments is reported as a component of accumulated other comprehensive income. Net foreign currency transaction gains (losses) recorded in results of operations were $2.7 million, $(2.7) million and $3.5 million in 2013, 2012 and 2011, respectively. | ||||||||||||
Share-Based Compensation. Share-based compensation, arising from awards of stock options and restricted stock, is measured at the grant date fair value. We use the Black-Scholes option valuation model to determine the fair value of stock option awards. The fair value of restricted stock awards is determined and fixed on the grant date using the closing price of our common stock. The fair value of the restricted stock awards is charged to additional paid-in capital and is amortized to expense over the restriction period. For awards that have a service only vesting condition, we recognize share-based compensation expense on a straight-line basis over the requisite service periods. For awards with a performance vesting condition, we recognize share-based compensation expense on a graded-vesting basis. See Note 10 for additional information regarding our specific award plans and estimates and assumptions used to determine the fair value of our share-based compensation awards. | ||||||||||||
Salary Continuation Agreements. Arrangements with certain present and former employees provide for continuing payments for periods up to ten years after cessation of full-time employment in consideration for agreement by the employees not to compete with us and to render consulting services during the postemployment period. Such payments which are subject to certain limitations, including our operating performance during the postemployment period, represent the fair value of the services rendered and are expensed in such periods. | ||||||||||||
Severance. The liability for one-time termination benefits, such as severance pay or benefit payouts, is measured and recognized at fair value in the period the liability was incurred. Subsequent changes to the liability are recognized in results of operations in the period of change. | ||||||||||||
Defined Benefit Pension Plans and Postemployment Arrangements. The funded status of our defined benefit plans is recorded in our balance sheet. Funded status is measured as the difference between the fair value of plan assets and the benefit obligation at December 31, the measurement date. The benefit obligation for the defined benefit plans is the projected benefit obligation (“PBO”), which represents the actuarial present value of benefits expected to be paid upon retirement based on estimated future compensation levels. The fair value of plan assets represents the current market value. Overfunded plans where the fair value of plan assets exceeds the benefit obligation are aggregated and recorded as a prepaid pension asset equal to the excess. Underfunded plans where the benefit obligation exceeds the fair value of plan assets are aggregated and recorded as a liability equal to the excess. The liability for our postemployment arrangements is recorded in our balance sheet. The benefit obligation of our postemployment arrangements is the PBO and these arrangements are not funded. The current portion of the benefit obligation for our defined benefit plans and postemployment arrangements represents the actuarial present value of benefits payable in the next twelve months that exceed the fair value of plan assets. This current obligation is recorded in other current liabilities and the long-term portion is recorded in long-term liabilities in our balance sheet. | ||||||||||||
Deferred Compensation. Some of our subsidiaries have individual deferred compensation arrangements with certain executives that provide for payments over varying terms upon retirement, cessation of employment or death. The cost of these arrangements is accrued during the employee’s service period. | ||||||||||||
Income Taxes. We use the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable for the current period and deferred taxes recognized during the period. Deferred income taxes are recognized for the temporary difference between the financial reporting basis and tax basis of our assets and liabilities. Deferred income taxes are measured using the enacted tax rates that are assumed to be in effect when the differences reverse. Deferred tax assets result principally from recording certain expenses in the financial statements which are not currently deductible for tax purposes, such as share-based compensation expense, tax loss and credit carryforwards and differences between the tax basis and book basis of assets and liabilities recorded in connection with acquisitions. Deferred tax liabilities result principally from expenses arising from financial instruments which are currently deductible for tax purposes but have not been expensed in the financial statements, basis differences arising from deductible goodwill and intangible assets and tax rate differentials on unremitted foreign earnings. Valuation allowances are recorded where it is more likely than not that all or a portion of a deferred tax asset will not be realized. In assessing the need for a valuation allowance, we evaluate factors such as prior earnings history, expected future earnings, carry-back and carry-forward periods and tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset. | ||||||||||||
We have not provided U.S. federal and state income taxes on cumulative earnings of foreign subsidiaries that have been indefinitely reinvested. We have provided U.S. income taxes on earnings of foreign subsidiaries and affiliates that have not been indefinitely reinvested. Interest and penalties related to tax positions taken in our tax returns are recorded in income tax expense. | ||||||||||||
Net Income Per Common Share. Net income per common share is based on the weighted average number of common shares outstanding during each period. Diluted net income per common share is based on the weighted average number of common shares outstanding, plus, if dilutive, common share equivalents, which include outstanding stock options, restricted stock and shares issuable for the conversion premium on our convertible debt. | ||||||||||||
Net income per common share is calculated using the two-class method, which is an earnings allocation method for computing net income per common share when a company's capital structure includes common stock and participating securities. The majority of our unvested restricted stock awards receive non-forfeitable dividends at the same rate as our common stock and therefore are considered participating securities. Under the two-class method, basic and diluted net income per common share is reduced for a presumed hypothetical distribution of earnings to holders of our unvested restricted stock. | ||||||||||||
Concentration of Credit Risk. We provide advertising, marketing and corporate communications services to several thousand clients who operate in nearly every industry sector of the global economy and we grant credit to qualified clients in the normal course of business. Due to the diversified nature of our client base, we do not believe that we are exposed to a concentration of credit risk as our largest client accounted for 2.7% of revenue in 2013 and no other client accounted for more than 2.5% of revenue. | ||||||||||||
Derivative Financial Instruments. All derivative instruments, including certain derivative instruments embedded in other contracts, are recorded in our balance sheet at fair value as either an asset or liability. Derivatives qualify for hedge accounting if: (1) the hedging instrument is designated as a hedge at inception, (2) the hedged exposure is specifically identifiable and exposes us to risk and (3) a change in fair value of the derivative financial instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. The method of assessing hedge effectiveness and measuring hedge ineffectiveness is formally documented at hedge inception. Hedge effectiveness is assessed and hedge ineffectiveness is measured at least quarterly throughout the designated hedge period. If the derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability or firm commitment through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of the change in fair value of a derivative used as hedge is recognized in results of operations. We do not use derivative financial instruments for trading or speculative purposes. | ||||||||||||
Fair Value. We apply the fair value measurement guidance of FASB ASC Topic 820, Fair Value Measurements and Disclosures, for our financial assets and liabilities that are required to be measured at fair value and for our nonfinancial assets and liabilities that are not required to be measured at fair value on a recurring basis, including goodwill and other identifiable intangible assets. The measurement of fair value requires the use of techniques based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The inputs create the following fair value hierarchy: | ||||||||||||
• | Level 1 - Quoted prices for identical instruments in active markets. | |||||||||||
• | Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations where inputs are observable or where significant value drivers are observable. | |||||||||||
• | Level 3 - Instruments where significant value drivers are unobservable to third parties. | |||||||||||
When available, we use quoted market prices to determine the fair value of our financial instruments and classify such items in Level 1. In some cases, we use quoted market prices for similar instruments in active markets and model-derived valuations. These items are classified in Level 2. | ||||||||||||
In determining the fair value of financial instruments, we consider certain market valuation adjustments that market participants would consider in determining fair value, including: counterparty credit risk adjustments applied to financial instruments, taking into account the actual credit risk of the counterparty as observed in the credit default swap market and credit risk adjustments applied to reflect our own credit risk when valuing liabilities measured at fair value. | ||||||||||||
Reclassifications. Certain reclassifications have been made to the prior year financial information to conform to the current year presentation. |
Net_Income_per_Common_Share
Net Income per Common Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Net Income per Common Share [Abstract] | ' | |||||||||||
Net Income per Common Share | ' | |||||||||||
Net Income per Common Share | ||||||||||||
The computations of basic and diluted net income per common share for the three years ended December 31, 2013 were (in millions, except per share amounts): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net Income Available for Common Shares: | ||||||||||||
Net income - Omnicom Group Inc. | $ | 991.1 | $ | 998.3 | $ | 952.6 | ||||||
Net income allocated to participating securities | (25.1 | ) | (22.5 | ) | (10.7 | ) | ||||||
$ | 966 | $ | 975.8 | $ | 941.9 | |||||||
Weighted Average Shares: | ||||||||||||
Basic | 258.9 | 268.3 | 279 | |||||||||
Dilutive stock options, restricted shares and shares issuable | 1.5 | 1.7 | 4.3 | |||||||||
for the conversion premium of convertible debt | ||||||||||||
Diluted | 260.4 | 270 | 283.3 | |||||||||
Anti-dilutive stock options and restricted shares | 0.7 | 0.3 | 1.7 | |||||||||
Net Income per Common Share - Omnicom Group Inc.: | ||||||||||||
Basic | $ | 3.73 | $ | 3.64 | $ | 3.38 | ||||||
Diluted | $ | 3.71 | $ | 3.61 | $ | 3.33 | ||||||
Business_Combinations
Business Combinations | 12 Months Ended |
Dec. 31, 2013 | |
Business Combinations [Abstract] | ' |
Business Combinations | ' |
Business Combinations | |
In 2013, we completed 8 acquisitions of new subsidiaries and made additional investments in companies in which we had an existing minority ownership interest. Goodwill increased $69.9 million in 2013, which included contingent purchase price payments (earn-outs) for acquisitions completed prior to January 1, 2009 of $14.5 million. Approximately $38.1 million of the goodwill recorded in connection with the 2013 acquisitions is expected to be deductible for income tax purposes. We also acquired additional equity in certain of our majority owned subsidiaries. These transactions are accounted for as equity transactions and no additional goodwill was recorded. None of the acquisitions in 2013 were material to our results of operations or financial position. | |
Our valuation of the acquired businesses is based on a number of factors, including specialized know-how, reputation, geographic coverage, competitive position and service offerings, as well as our experience and judgment. Our acquisition strategy is focused on acquiring the expertise of an assembled workforce in order to continue to build upon the core capabilities of our various strategic business platforms, including the expansion of their geographic area and/or their service capabilities to better serve our clients. Consistent with our acquisition strategy and past practice, certain of our acquisitions include an initial payment at closing and provide for future additional contingent purchase price payments (earn-outs). We use contingent purchase price structures in an effort to minimize the risk to us associated with potential future negative changes in the performance of the acquired business during the post-acquisition transition period. Contingent purchase price payments for these transactions, as well as certain acquisitions completed in prior years, are derived using the performance of the acquired entity and are based on predetermined formulas. The liability for contingent purchase price obligations was $220.2 million and $266.2 million at December 31, 2013 and 2012, respectively, of which $74.5 million and $83.2 million, respectively, is included in other current liabilities in our balance sheet. | |
For each acquisition, we undertake a detailed review to identify other intangible assets and a valuation is performed for all such identified assets. We use several market participant measurements to determine fair value. This approach includes consideration of similar and recent transactions, as well as utilizing discounted expected cash flow methodologies and when available and as appropriate, we use comparative market multiples to supplement our analysis. As is typical for most service businesses, a substantial portion of the intangible asset value we acquire is the specialized know-how of the workforce, which is treated as part of goodwill and is not valued separately. A significant portion of the identifiable intangible assets acquired is derived from customer relationships, including the related customer contracts, as well as trade names. In executing our acquisition strategy, one of the primary drivers in identifying and executing a specific transaction is the existence of, or the ability to, expand our existing client relationships. The expected benefits of our acquisitions are typically shared across multiple agencies and regions. |
Goodwill_and_Intangible_Assets
Goodwill and Intangible Assets | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||
Goodwill and Intangible Assets | ||||||||||||||||||||||||
Goodwill and intangible assets at December 31, 2013 and 2012 were (in millions): | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | |||||||||||||||||||
Value | Value | Value | Value | |||||||||||||||||||||
Goodwill | $ | 9,502.60 | $ | 586.6 | $ | 8,916.00 | $ | 9,424.30 | $ | 580.1 | $ | 8,844.20 | ||||||||||||
Intangible assets: | ||||||||||||||||||||||||
Purchased and internally developed software | $ | 283.2 | $ | 217.4 | $ | 65.8 | $ | 289.6 | $ | 222.1 | $ | 67.5 | ||||||||||||
Customer related and other | 655.1 | 334.9 | 320.2 | 664.5 | 275.9 | 388.6 | ||||||||||||||||||
$ | 938.3 | $ | 552.3 | $ | 386 | $ | 954.1 | $ | 498 | $ | 456.1 | |||||||||||||
Changes in goodwill for the years ended December 31, 2013 and 2012 were (in millions): | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Balance January 1 | $ | 8,844.20 | $ | 8,456.30 | ||||||||||||||||||||
Acquisitions | 69.9 | 301.1 | ||||||||||||||||||||||
Dispositions | (8.5 | ) | (2.7 | ) | ||||||||||||||||||||
Foreign currency translation | 10.4 | 89.5 | ||||||||||||||||||||||
Balance December 31 | $ | 8,916.00 | $ | 8,844.20 | ||||||||||||||||||||
There were no goodwill impairment losses recorded in 2013 or 2012 and there are no accumulated goodwill impairment losses. Goodwill for acquisitions completed in 2013 and 2012 includes $12.2 million and $25.6 million, respectively, of goodwill attributed to noncontrolling interests in the acquired businesses. |
Debt
Debt | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Debt [Abstract] | ' | |||||||||||
Debt | ' | |||||||||||
Debt | ||||||||||||
Lines of Credit | ||||||||||||
We have a $2.5 billion committed line of credit ("Credit Agreement") with a consortium of banks expiring on October 12, 2016. We have the ability to classify borrowings under the Credit Agreement as long-term. The Credit Agreement supports the issuance of up to $1.5 billion of commercial paper issuances and such issuances reduce the amount available under the Credit Agreement. At December 31, 2013 and 2012, there were no outstanding commercial paper issuances or borrowings under the Credit Agreement. We also have uncommitted lines of credit aggregating $1,051.5 million and $878.2 million at December 31, 2013 and 2012, respectively. | ||||||||||||
Available and unused lines of credit at December 31, 2013 and 2012 were (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Credit Agreement | $ | 2,500.00 | $ | 2,500.00 | ||||||||
Uncommitted lines of credit | 1,051.50 | 878.2 | ||||||||||
Available and unused lines of credit | $ | 3,551.50 | $ | 3,378.20 | ||||||||
The Credit Agreement contains financial covenants that require us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA to no more than 3 times for the most recently ended 12-month period (under the Credit Agreement, EBITDA is defined as earnings before interest, taxes, depreciation and amortization) and an Interest Coverage Ratio of consolidated EBITDA to interest expense of at least 5 times for the most recently ended 12-month period. At December 31, 2013 we were in compliance with these covenants, as our Leverage Ratio was 1.9 times and our Interest Coverage Ratio was 10.7 times. The Credit Agreement does not limit our ability to declare or pay dividends. | ||||||||||||
Short-Term Borrowings | ||||||||||||
Short-term borrowings of $5.9 million and $6.4 million at December 31, 2013 and 2012, respectively, represent bank overdrafts and credit lines of our international subsidiaries. The bank overdrafts and credit lines are treated as unsecured loans pursuant to the agreements supporting the facilities. Due to the short-term nature of these instruments, carrying value approximates fair value. At December 31, 2013 and 2012, the weighted average interest rate on these borrowings was 5.6% and 9.5%, respectively. | ||||||||||||
Debt - General | ||||||||||||
Omnicom Capital Inc. (“OCI”) our wholly-owned finance subsidiary, together with us, is a co-obligor of all our Senior Notes and our Convertible Notes due July 31, 2032 (“2032 Notes”). The Senior Notes and 2032 Notes are a joint and several liability of us and OCI, and we unconditionally guarantee OCI’s obligations with respect to the Senior Notes and 2032 Notes. OCI provides funding for our operations by incurring debt and lending the proceeds to our operating subsidiaries. OCI’s assets consist of cash and cash equivalents and intercompany loans made to our operating subsidiaries and the related interest receivable. There are no restrictions on the ability of OCI or us to obtain funds from our subsidiaries through dividends, loans or advances. Our Senior Notes and 2032 Notes are senior unsecured obligations that rank in equal right of payment with all existing and future unsecured senior indebtedness. | ||||||||||||
Long-Term Notes Payable | ||||||||||||
Long-term notes payable at December 31, 2013 and 2012 were (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
5.90% Senior Notes due April 15, 2016 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
6.25% Senior Notes due July 15, 2019 | 500 | 500 | ||||||||||
4.45% Senior Notes due August 15, 2020 | 1,000.00 | 1,000.00 | ||||||||||
3.625% Senior Notes due May 1, 2022 | 1,250.00 | 1,250.00 | ||||||||||
Other notes and loans | 0.5 | 0.4 | ||||||||||
3,750.50 | 3,750.40 | |||||||||||
Unamortized premium (discount) on Senior Notes, net | 14.7 | 16 | ||||||||||
Deferred gain from termination of interest rate swaps on Senior Notes due 2016 | 15.9 | 23.1 | ||||||||||
3,781.10 | 3,789.50 | |||||||||||
Less current portion | 0.4 | 0.4 | ||||||||||
Long-term notes payable | $ | 3,780.70 | $ | 3,789.10 | ||||||||
In 2011, we terminated and settled a series of interest rate swaps on our 5.90% Senior Notes due April 15, 2016 (“2016 Notes”). Upon termination of the swaps, we discontinued hedge accounting and recorded a deferred gain of $33.2 million, which is being amortized as a reduction of interest expense through the maturity of the 2016 Notes. | ||||||||||||
Convertible Debt | ||||||||||||
Convertible debt at December 31, 2013 and 2012 was (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Convertible Notes due July 31, 2032 | $ | 252.7 | $ | 252.7 | ||||||||
Convertible Notes due June 15, 2033 | — | 0.1 | ||||||||||
Convertible Notes due July 1, 2038 | — | 406.6 | ||||||||||
252.7 | 659.4 | |||||||||||
Less current portion | — | — | ||||||||||
Convertible debt | $ | 252.7 | $ | 659.4 | ||||||||
On May 16, 2013, we called our Convertible Notes due June 15, 2033 (“2033 Notes”) and our Convertible Notes due July 1, 2038 (“2038 Notes”) for redemption on June 17, 2013 at a redemption price of 100% of the principal amount. As provided in the indenture governing the 2033 Notes and the 2038 Notes, prior to redemption the noteholders had the right to convert their 2033 Notes and 2038 Notes into shares of our common stock at a conversion rate of 19.4174 shares per $1,000 principal amount at any time prior to June 13, 2013. Substantially all the noteholders exercised their conversion right. We paid $406.1 million in cash representing the principal amount of the 2033 Notes and 2038 Notes that were converted and issued 1,499,792 shares of our common stock to satisfy the conversion premium. In addition, we reclassified $34.5 million, representing the tax effect of the difference between the issue price of the notes and the conversion value from deferred tax liabilities to additional paid-in capital. On June 17, 2013, we paid $0.6 million to redeem the remaining 2033 Notes and 2038 Notes that were not converted. | ||||||||||||
2032 Notes | ||||||||||||
In 2002, we issued $900 million of our 2032 Notes, of which $647.3 million have been repurchased and retired. The 2032 Notes are convertible only upon the occurrence of certain events, including: if our common stock trades above certain levels; if we effect extraordinary transactions, which includes the consummation of the Business Combination; if we mail a notice of redemption; or if the credit ratings assigned to the 2032 Notes are downgraded to BBB or lower by Standard & Poor's Rating Service or to Baa3 or lower by Moody’s Investors Service. These events would not result in an adjustment of the number of shares issuable upon conversion. Holders of the 2032 Notes have the right to put the notes back to us for cash on July 31 of each year and we have the right to redeem the notes for cash at any time on or after July 31, 2014. There are no events that accelerate the noteholders’ put rights. | ||||||||||||
If the 2032 Notes become convertible and the holders of our 2032 Notes exercise their conversion right, the conversion obligation is equal to a conversion value determined on the day of conversion, calculated by multiplying the share price at the close of business on that day by 18.313 shares (subject to any adjustments required by the Indenture governing the 2032 Notes). We satisfy the conversion value by paying the initial principal amount of the note in cash and the balance of the conversion value in cash or shares, at our option. The put obligation can only be satisfied in cash. | ||||||||||||
The 2032 Notes provided the noteholders with certain rights that we considered to be embedded derivatives. Embedded derivatives could be required to be bifurcated and accounted for separately from the underlying host instrument. The noteholders’ rights considered for bifurcation were: (1) an embedded conversion option to convert the bonds into shares of our common stock, (2) the right to put the 2032 Notes back to us for repurchase (noteholders' put right) and our agreement to not call the 2032 Notes except on certain specific dates (no call right) and (3) the right to collect contingent cash interest from us if certain criteria are met. The embedded derivatives, which were accounted for as described below, had no impact on the carrying value of the 2032 Notes and accordingly, the 2032 Notes are carried at their maturity value. | ||||||||||||
At issuance, the embedded conversion option qualified for the exception covering convertible debt in FASB ASC Topic 815, Derivatives and Hedging and we are not required to separately account for the embedded conversion option. The embedded conversion option met the criteria and would, if converted, be accounted for in equity as if it was a freestanding derivative. We are not required to separately value and account for the noteholders’ put right and the no call right. These rights were considered to be clearly and closely related to the underlying 2032 Notes and are not contingently exercisable. Additionally, the debt was not issued with a substantial discount or premium. Lastly, the noteholders’ right to collect contingent cash interest is a derivative and is required to be marked to market value each reporting period with changes recorded in interest expense. The value of this right is primarily linked to the price of our common stock and not the debt host contract. Therefore, the right to collect contingent cash interest is not clearly and closely related to the 2032 Notes and is required to be accounted for separately. | ||||||||||||
If the market price of the 2032 Notes exceeds certain thresholds during any six month period February 1 to July 31 and August 1 to January 31, we may be required to pay contingent cash interest on the 2032 Notes. Our 2032 Notes accrue contingent interest for the periods August 1, 2013 to January 31, 2014 and February 1, 2014 to July 31, 2014. Contingent interest of $2.81 per $1,000 principal amount was paid on October 31, 2013 and is payable on January 31, 2014, April 30, 2014 and July 31, 2014. In the third quarter of 2013, we recorded a charge to interest expense of $2.8 million, representing the fair value of the contingent interest derivative. The contingent interest derivative is marked-to-market through results of operations each period and is included in other current liabilities in our balance sheet. | ||||||||||||
In 2004, our then outstanding convertible notes, including the 2032 Notes, were amended to include a provision to satisfy the conversion value by paying the principal amount of the notes in cash and the balance of the conversion option in cash or shares at our option. In prior years, as required by U.S. GAAP, we separately accounted for the liability and equity components of the notes by allocating the proceeds at the date of amendment of the notes between the liability and equity components and recording $47.5 million, $28.5 million after tax, of interest expense related to the equity conversion option over the expected life of the conversion option. The convertible notes, including the 2032 Notes, were issued at par (no discount or premium) and do not bear any interest. As a result, we concluded that absent any non-contractual supplemental interest payment the noteholders have no economic incentive to hold the notes past the contractual put dates. Therefore, the expected life of the conversion option was determined to be the period from amendment of the notes in 2004 to the first respective put date, or 1 year in the case of the 2032 Notes and 1.6 years in the case of the 2038 Notes. The amortization of the value of the conversion option was recorded as interest expense in those years. | ||||||||||||
From time to time, we have made non-contractual supplemental interest payments to holders of our Convertible Notes. Supplemental interest payments were amortized to interest expense ratably over the period to the next put date. No supplemental interest payments were paid during the three year period ended December 31, 2013. | ||||||||||||
Interest Expense | ||||||||||||
The components of interest expense for the three years ended December 31, 2013 were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Long-term notes payable | $ | 174.7 | $ | 156.2 | $ | 125.8 | ||||||
Amortization of supplemental interest payments | 5.9 | 6.7 | 10 | |||||||||
Commercial paper | 1.7 | 1.3 | 2.5 | |||||||||
Fees | 6.5 | 6.2 | 7.1 | |||||||||
Other | 8.4 | 9.3 | 12.7 | |||||||||
$ | 197.2 | $ | 179.7 | $ | 158.1 | |||||||
Maturities | ||||||||||||
The stated maturities of our long-term notes payable and convertible debt at December 31, 2013 are (in millions): | ||||||||||||
2014 | $ | 0.4 | ||||||||||
2015 | — | |||||||||||
2016 | 1,000.10 | |||||||||||
2017 | — | |||||||||||
2018 | — | |||||||||||
Thereafter | 3,002.70 | |||||||||||
$ | 4,003.20 | |||||||||||
Segment_Reporting
Segment Reporting | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Segment Reporting | ' | ||||||||||||
Segment Reporting | |||||||||||||
Our wholly and partially owned agencies operate within the advertising, marketing and corporate communications services industry. These agencies are organized into agency networks, virtual client networks, regional reporting units and operating groups. Consistent with our fundamental business strategy, our agencies serve similar clients, in similar industries and, in many cases, the same clients across a variety of geographic regions. In addition, our agency networks have similar economic characteristics, including similar costs and long-term profit contribution. The main economic components of each agency are employee compensation and related costs and direct service costs and office and general costs which include rent and occupancy costs, technology costs and other overhead expenses. Therefore, given these similarities, we aggregate our operating segments, which are our five agency networks, into one reporting segment. | |||||||||||||
Revenue and long-lived assets and goodwill by geographic region as of and for the three years ended December 31, 2013 were (in millions): | |||||||||||||
Americas | EMEA | Asia Pacific | |||||||||||
2013 | |||||||||||||
Revenue | $ | 8,597.10 | $ | 4,407.40 | $ | 1,580.00 | |||||||
Long-lived assets and goodwill | 6,082.60 | 2,984.60 | 586.2 | ||||||||||
2012 | |||||||||||||
Revenue | $ | 8,375.80 | $ | 4,285.00 | $ | 1,558.60 | |||||||
Long-lived assets and goodwill | 6,066.30 | 2,875.20 | 626.5 | ||||||||||
2011 | |||||||||||||
Revenue | $ | 8,018.10 | $ | 4,491.00 | $ | 1,363.40 | |||||||
Long-lived assets and goodwill | 5,960.00 | 2,614.40 | 564.8 | ||||||||||
The Americas is composed of North America, which includes the United States, Canada and Puerto Rico, and Latin America, which includes Mexico. EMEA is composed of various Euro currency countries, the United Kingdom, other European countries that have not adopted the European Union Monetary standard, the Middle East and Africa. Asia Pacific is composed of Australia, China, India, Japan, Korea, New Zealand, Singapore and other Asian countries. |
Equity_Method_Investments
Equity Method Investments | 12 Months Ended |
Dec. 31, 2013 | |
Equity Method Investments [Abstract] | ' |
Equity Method Investments | ' |
Equity Method Investments | |
Income (loss) from our equity method investments was $15.9 million, $(15.0) million and $17.2 million for 2013, 2012 and 2011, respectively and our proportionate share in their net assets was $48.4 million and $69.1 million, at December 31, 2013 and 2012, respectively. Our equity method investments are not material to our results of operations or financial position and therefore, summarized financial information is not required to be presented. | |
In 2013 and 2012 we recorded a net impairment charge of $10.7 million and $29.2 million, respectively, to reduce the carrying value of our equity investment in Egypt to fair value. The civil unrest in Egypt, which has continued in 2013 even after democratic elections in 2012, affected the financial condition and prospects of our equity investment and we determined that an other-than-temporary impairment had occurred. Accordingly, we recorded an impairment charge in 2013 to reflect the reduction in value to our equity investment and record it at fair value at December 31, 2013. The measurement of fair value was based on significant unobservable estimates and assumptions (Level 3 inputs), including expected discounted cash flows. The estimates and assumptions included a weighted average cost of capital of 27% and 22% in 2013 and 2012, respectively, and an expected long-term growth rate of 5% for both years. The impairment charges are included in income (loss) from equity method investments in our income statement. | |
Effective February 1, 2011, we acquired a controlling interest in the Clemenger Group, our affiliate in Australia and New Zealand, increasing our equity ownership to 73.7% from 46.7%. In connection with this transaction we recorded a remeasurement gain of $123.4 million in 2011. Additionally, in 2011, we acquired a controlling interest in affiliates in India and Turkey increasing our equity ownership to 100% and 76%, respectively. In connection with these transactions, we recorded a remeasurement gain of $15.1 million. | |
The differences between the fair value of our shares at the acquisition dates and the carrying value of the investments prior to the acquisitions resulted in the remeasurement gains. The purchase prices were negotiated at fair value in arms-length transactions. In addition, we performed a valuation of the businesses and confirmed the fair values used to determine the remeasurement gains. We used the following valuation methodologies to confirm the fair values: the income approach which utilized discounted expected future cash flows, comparative market participant multiples of EBITDA (earnings before interest, taxes, depreciation and amortization) and, when available, comparable transactions. |
ShareBased_Compensation_Plans
Share-Based Compensation Plans | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Share-Based Compensation Plans [Abstract] | ' | ||||||||||||||||||||
Share-Based Compensation Plans | ' | ||||||||||||||||||||
Share-Based Compensation Plans | |||||||||||||||||||||
Share-based incentive awards are provided to employees under our 2013 Incentive Award Plan (“2013 Plan”). The 2013 Plan, which was approved by the shareholders on May 21, 2013, is administered by the Compensation Committee of the Board of Directors ("Compensation Committee"). Awards under the 2013 Plan include stock options, restricted stock and other stock awards. The maximum number of shares of common stock that can be granted under the 2013 Plan is 33,040,000 shares, (i) less any stock options granted between January 1, 2013 and May 21, 2013 under the 2007 Incentive Award Plan (“2007 Plan”) on a one-for-one basis and all other awards granted between January 1, 2013 and May 21, 2013 under the 2007 Plan on a 3.5 share to one basis and (ii) plus any shares awarded under the 2013 Plan, 2007 Plan and any prior plan that were forfeited or expired. Stock option awards reduce the number of shares available for grant on a one-for-one basis. All other awards reduce the number of shares available for grant by 3.5 shares for every one share of common stock awarded. The terms of each award and the exercise date are determined by the Compensation Committee. The 2013 Plan does not permit the holder of an award to elect cash settlement under any circumstances. At December 31, 2013, there were 32,762,420 shares available for grant under the 2013 Plan. If all shares available for grant were for awards other than stock options, shares available for grant would be 9,360,691. | |||||||||||||||||||||
Share-based compensation expense was $86.3 million, $80.8 million and $74.5 million in 2013, 2012 and 2011, respectively. At December 31, 2013, unamortized share-based compensation that will be expensed over the next five years is $257.2 million. We record a deferred tax asset for share-based compensation expense recognized for financial reporting that has not been deducted on our income tax return. If the actual tax deduction exceeds the deferred tax asset, the difference is recorded in additional paid-in capital (“APIC Pool”). If the actual tax deduction is less than the deferred tax asset and no APIC Pool exists, the difference is recorded in results of operations. To the extent that future tax deductions for share-based compensation are less than the deferred tax assets resulting from recording book share-based compensation expense, we expect to have a sufficient pool of excess tax benefits within the APIC Pool available to offset any potential future shortfalls. | |||||||||||||||||||||
Stock Options | |||||||||||||||||||||
The exercise price of stock option awards may not be less than 100% of the market price of our common stock on the grant date and the option term cannot exceed ten years from the grant date. Typically, stock option awards vest 30% per year for the first two years and are fully vested three years from the grant date. Generally, stock option exercises are settled with treasury shares. | |||||||||||||||||||||
Stock option activity for the three years ended December 31, 2013 was: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | ||||||||||||||||
Average | Average | Average | |||||||||||||||||||
Exercise | Exercise | Exercise | |||||||||||||||||||
Price | Price | Price | |||||||||||||||||||
Balance January 1 | 5,590,880 | $25.72 | 18,301,409 | $26.22 | 24,513,590 | $26.64 | |||||||||||||||
Options granted | 60,000 | $70.68 | 60,000 | $49.65 | 90,000 | $45.05 | |||||||||||||||
Options exercised | (3,021,200 | ) | $26.01 | (12,673,529 | ) | $26.47 | (6,034,181 | ) | $28.17 | ||||||||||||
Options (forfeited) reinstated | 14,000 | $23.40 | (97,000 | ) | $35.98 | (268,000 | ) | $27.15 | |||||||||||||
Balance December 31 | 2,643,680 | $26.39 | 5,590,880 | $25.72 | 18,301,409 | $26.22 | |||||||||||||||
Exercisable December 31 | 2,505,680 | $24.67 | 5,333,880 | $24.89 | 9,672,909 | $27.85 | |||||||||||||||
Options outstanding and exercisable at December 31, 2013 were: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Range of | Shares | Weighted Average | Weighted Average | Shares | Weighted Average | ||||||||||||||||
Exercise Prices | Remaining | Exercise Price | Exercise Price | ||||||||||||||||||
Contractual Life | |||||||||||||||||||||
$23.40 | to | $29.99 | 2,337,680 | 5.2 years | $23.60 | 2,337,680 | $23.60 | ||||||||||||||
$30.00 | to | $44.99 | 163,000 | 6.7 years | $38.78 | 139,000 | $37.97 | ||||||||||||||
$45.00 | to | $59.99 | 83,000 | 8.2 years | $48.64 | 29,000 | $47.37 | ||||||||||||||
$60.00 | to | $70.68 | 60,000 | 9.9 years | $70.68 | — | — | ||||||||||||||
2,643,680 | 2,505,680 | ||||||||||||||||||||
The fair value of each grant was determined on the grant date using the Black-Scholes option valuation model. The Black-Scholes assumptions (without adjusting for the risk of forfeiture and lack of liquidity) and the weighted average fair value per share for options granted were: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected option lives | 5 years | 5 years | 5 years | ||||||||||||||||||
Risk free interest rate | 1.40% | 0.80% | 0.9 | % | - | 1.80% | |||||||||||||||
Expected volatility | 26.00% | 29.50% | 27.2 | % | - | 29.20% | |||||||||||||||
Dividend yield | 2.00% | 3.10% | 2.3 | % | - | 2.80% | |||||||||||||||
Weighted average fair value per option granted | $14.50 | $10.42 | $9.57 | ||||||||||||||||||
Restricted Stock | |||||||||||||||||||||
Restricted stock activity for the three years ended December 31, 2013 was: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Balance January 1 | 7,241,490 | 6,038,978 | 3,026,086 | ||||||||||||||||||
Shares granted | 706,900 | 2,515,127 | 4,274,807 | ||||||||||||||||||
Shares vested | (1,490,786 | ) | (981,737 | ) | (1,096,441 | ) | |||||||||||||||
Shares forfeited | (366,907 | ) | (330,878 | ) | (165,474 | ) | |||||||||||||||
Balance December 31 | 6,090,697 | 7,241,490 | 6,038,978 | ||||||||||||||||||
Weighted average grant date fair value of shares granted in the period | $60.98 | $49.55 | $44.51 | ||||||||||||||||||
Weighted average grant date fair value at December 31 | $47.47 | $45.34 | $43.32 | ||||||||||||||||||
Restricted shares typically vest 20% per year, provided the employee remains employed by us and are fully vested five years from the grant date. Restricted shares may not be sold, transferred, pledged or otherwise encumbered until the forfeiture restrictions lapse. Under most circumstances, the employee forfeits the shares if employment ceases prior to the end of the restriction period. | |||||||||||||||||||||
Performance Restricted Stock Units | |||||||||||||||||||||
The Compensation Committee granted certain employees 413,909 performance restricted stock units (“PRSUs”) in 2011 (“2011 PRSUs”), 166,426 PRSUs in 2012 (“2012 PRSUs”) and 183,998 PRSUs in 2013 (“2013 PRSUs”). Each PRSU represents the right to receive one share of common stock on vesting. The ultimate number of PRSUs received by the employee depends on the Company's average return on equity over a three year period compared to the average return on equity of a peer group of four principal competitors over the same period. The 2011 PRSUs vest over five years and the 2012 and 2013 PRSUs vest over three years. One half of the 2011 PRSUs have a service only vesting condition and compensation expense is recognized on a straight-line basis over the service period. The other half of the 2011 PRSUs and all the 2012 and 2013 PRSUs have a service and performance vesting condition and compensation expense is recognized on a graded-vesting basis. Over the performance period, the recognition of compensation expense is adjusted upward or downward based on our estimate of the probability of achievement of the performance target for the portion of the awards subject to the performance vesting condition. | |||||||||||||||||||||
In 2013 and 2012, 41,391 shares and 41,387 shares, respectively, of the 2011 PRSUs subject to the service only vesting condition vested and were distributed to the employees. We assume that substantially all the PRSUs subject to the service and performance condition will vest. | |||||||||||||||||||||
PRSU activity of the three years ended December 31, 2013 was: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Shares | Weighted Average Grant Date Fair Value | Shares | Weighted Average Grant Date Fair Value | Shares | Weighted Average Grant Date Fair Value | ||||||||||||||||
Balance January 1 | 538,948 | $ | 48.74 | 413,909 | $ | 48.56 | — | — | |||||||||||||
Granted | 183,998 | 57.77 | 166,426 | 49.13 | 413,909 | $ | 48.56 | ||||||||||||||
Distributed | (41,391 | ) | 48.56 | (41,387 | ) | 48.56 | — | — | |||||||||||||
Forfeited | — | — | — | — | — | — | |||||||||||||||
Balance December 31 | 681,555 | $ | 51.19 | 538,948 | $ | 48.74 | 413,909 | $ | 48.56 | ||||||||||||
ESPP | |||||||||||||||||||||
We have an employee stock purchase plan (“ESPP”) that enables employees to purchase our common stock through payroll deductions over each plan quarter at 95% of the market price on the last trading day of the plan quarter. Purchases are limited to 10% of eligible compensation as defined by the Employee Retirement Income Security Act of 1974 (“ERISA”). Employees purchased 175,002 shares, 189,307 shares and 161,929 shares in 2013, 2012 and 2011, respectively, all of which were treasury shares, for which $9.9 million, $8.6 million and $7.0 million, respectively, was paid to us. At December 31, 2013, 9,191,376 shares are available for the ESPP. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
Income Taxes | ||||||||||||
We file a consolidated U.S. income tax return and tax returns in various state and local jurisdictions. Our subsidiaries file tax returns in various foreign jurisdictions. Our principal foreign jurisdictions include the United Kingdom, France and Germany. The Internal Revenue Service has completed its examination of our federal tax returns through 2010. In addition, our subsidiaries’ tax returns in the United Kingdom, France and Germany have been examined through 2011, 2008 and 2008, respectively. | ||||||||||||
Income before income taxes for the three years ended December 31, 2013 was (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | 629.4 | $ | 683.5 | $ | 581 | ||||||
International | 1,031.50 | 976.1 | 968 | |||||||||
$ | 1,660.90 | $ | 1,659.60 | $ | 1,549.00 | |||||||
Income tax expense (benefit) for the three years ended December 31, 2013 was (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 246.3 | $ | 163.3 | $ | 158.6 | ||||||
State and local | 30.6 | 40.1 | 14.4 | |||||||||
International | 336.5 | 298.3 | 239.5 | |||||||||
613.4 | 501.7 | 412.5 | ||||||||||
Deferred: | ||||||||||||
Federal | 0.3 | 41.7 | 83.6 | |||||||||
State and local | (3.6 | ) | 4.7 | 4.9 | ||||||||
International | (44.9 | ) | (21.0 | ) | 4.8 | |||||||
(48.2 | ) | 25.4 | 93.3 | |||||||||
$ | 565.2 | $ | 527.1 | $ | 505.8 | |||||||
The reconciliation from the statutory U.S. federal income tax rate to our effective tax rate is: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory U.S. federal income tax rate | 35 | % | 35 | % | 35 | % | ||||||
State and local income taxes, net of federal income tax benefit | 1 | 1.7 | 0.8 | |||||||||
Reduction of tax on unremitted foreign earnings due to | — | (1.3 | ) | — | ||||||||
legal reorganization | ||||||||||||
Remeasurement gain Clemenger Group, tax rate differential | — | — | (2.6 | ) | ||||||||
International tax rate differentials | (3.0 | ) | (3.3 | ) | (1.4 | ) | ||||||
Other | 1 | (0.3 | ) | 0.9 | ||||||||
Effective tax rate | 34 | % | 31.8 | % | 32.7 | % | ||||||
Our effective tax rate increased to 34.0% in 2013 from 31.8% in 2012. Excluding the income tax effect of the merger expenses of $6.5 million, which reflects the estimated impact of the non-deductibility of a significant portion of the merger expenses, our effective tax rate for 2013 was 33.6%, which is consistent with our expected effective tax rate for 2013 and reflects the full year effect of the reduction in income tax expense resulting from the implementation of the legal reorganization in the Asia Pacific region, which occurred in 2012. | ||||||||||||
In 2012, income tax expense was reduced by $53 million, primarily resulting from a reduction in the deferred tax liabilities for unremitted foreign earnings of certain of our operating companies located in the Asia Pacific region, as well as lower statutory tax rates in other foreign jurisdictions. In an effort to support our continued expansion and pursue operational efficiencies in the Asia Pacific region, we completed a legal reorganization in certain countries within the region. As a result of the reorganization, our unremitted foreign earnings in the affected countries are subject to lower effective tax rates as compared to the U.S. statutory tax rate. Therefore we recorded a reduction in our deferred tax liabilities to reflect the lower tax rate that these earnings are subject to. The reduction in income tax expense was partially offset by a charge of approximately $16 million resulting from U.S. state and local tax accruals recorded for uncertain tax positions, net of U.S. federal income tax benefit. | ||||||||||||
Income tax expense for 2011 reflects a $39.5 million tax benefit related to charges incurred in connection with repositioning actions taken in 2011, a provision of $2.8 million related to the remeasurement gain from the acquisition of the controlling interest in Clemenger Group and a provision of $9.0 million for agreed upon adjustments to income tax returns that were under examination in 2011. The tax benefit on the repositioning actions was calculated based on the jurisdictions where the charges were incurred and reflects the likelihood that we will be unable to obtain a tax benefit for all charges incurred. The remeasurement gain resulting from the acquisition of the controlling interest in Clemenger Group created a difference between the book basis and tax basis of our investment. Because this basis difference is not expected to reverse, no deferred taxes were provided and the tax provision recorded represents the incremental U.S. tax on acquired historical unremitted earnings. The $9.0 million charge resulted from adjustments to U.S. income tax returns for calendar years 2005, 2006 and 2007 that were agreed upon and recorded in 2011. | ||||||||||||
Included in income tax expense was $1.6 million, $2.5 million and $2.8 million in 2013, 2012 and 2011, respectively, of interest, net of tax benefit, and penalties related to tax positions taken on our tax returns. At December 31, 2013 and 2012, the accrued interest and penalties were $11.5 million and $18.8 million, respectively. | ||||||||||||
The components of deferred tax assets and liabilities at December 31, 2013 and 2012 were (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Compensation and severance | $ | 269.8 | $ | 283 | ||||||||
Tax loss and credit carryforwards | 149.1 | 176.1 | ||||||||||
Basis differences from acquisitions | 28.7 | 20.7 | ||||||||||
Basis differences from short-term assets and liabilities | 28.2 | 31.8 | ||||||||||
Other | 53.2 | 44.2 | ||||||||||
Deferred tax assets | 529 | 555.8 | ||||||||||
Valuation allowance | (56.8 | ) | (47.8 | ) | ||||||||
Net deferred tax assets | $ | 472.2 | $ | 508 | ||||||||
Deferred tax liabilities: | ||||||||||||
Goodwill and intangible assets | $ | 673.3 | $ | 635.2 | ||||||||
Financial instruments | 421.8 | 508.7 | ||||||||||
Unremitted foreign earnings | 114.5 | 124.7 | ||||||||||
Basis differences from investments | (5.7 | ) | 12.2 | |||||||||
Deferred tax liabilities | $ | 1,203.90 | $ | 1,280.80 | ||||||||
Net deferred tax assets (liabilities) | $ | (731.7 | ) | $ | (772.8 | ) | ||||||
Substantially all the deferred tax liability for financial instruments at December 31, 2013 and 2012, relates to our Convertible Debt. | ||||||||||||
Our net deferred tax assets and liabilities at December 31, 2013 and 2012, were classified as follows (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Other current assets - Deferred taxes | $ | 100.9 | $ | 160.2 | ||||||||
Long-term deferred tax liabilities | (832.6 | ) | (933.0 | ) | ||||||||
$ | (731.7 | ) | $ | (772.8 | ) | |||||||
The American Recovery and Reinvestment Act of 2009 (“ARRA”) provided an election where qualifying cancellation of indebtedness income for debt reacquired in 2009 and 2010 can be deferred and included in taxable income ratably over the five taxable years beginning in 2014 and ending in 2018. In 2009 and 2010, we reacquired and retired $1,382.0 million of our Convertible Debt resulting in a tax liability of approximately $329 million that is included in the deferred tax liability for financial instruments. Under the ARRA, we expect to pay this liability during the deferral period beginning in 2014 and continuing through 2018. At December 31, 2013, we reclassified $66 million, which represents the payment due in 2014, from long-term deferred tax liabilities to current deferred tax liabilities. | ||||||||||||
In connection with the conversion of our 2033 Notes and 2038 Notes, we reclassified $52.7 million, representing the excess of the accreted value of the notes for income tax purposes over the conversion value, from deferred tax liabilities to current taxes payable. In addition, we reclassified $34.5 million, representing the tax effect of the difference between the issue price of the notes and the conversion value from deferred tax liabilities to additional paid-in capital. As of December 31, 2013, the tax liability from the conversion of the notes has been paid. | ||||||||||||
We have concluded that it is more likely than not that we will be able to realize our net deferred tax assets in future periods because results of future operations are expected to generate sufficient taxable income. The valuation allowance of $56.8 million and $47.8 million at December 31, 2013 and 2012, respectively, relates to tax loss and credit carryforwards in the United States and international jurisdictions. Our tax loss and credit carryforwards for which there is no valuation allowance are available to us for periods ranging from 2019 to 2034, which is longer than the forecasted utilization of such carryforwards. | ||||||||||||
We have not provided for U.S. federal income and foreign withholding taxes on approximately $1.5 billion of cumulative undistributed earnings of certain foreign subsidiaries. We intend to indefinitely reinvest these undistributed earnings in our international operations. Accordingly, we currently have no plans to repatriate these funds. As such, we do not know the time or manner in which we would repatriate these funds. Because the time or manner of repatriation is uncertain, we cannot determine the impact of local taxes, withholding taxes and foreign tax credits associated with the future repatriation of such earnings and therefore cannot quantify the tax liability. We have provided $114.5 million of U.S. taxes, which are included in deferred tax liabilities, on cumulative undistributed earnings of certain foreign subsidiaries of approximately $2.1 billion that are not indefinitely reinvested. Changes in international tax rules or changes in U.S. tax rules and regulations covering international operations and foreign tax credits may affect our future reported financial results or the way we conduct our business. | ||||||||||||
A reconciliation of our unrecognized tax benefits at December 31, 2013 and 2012 is (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Balance January 1 | $ | 188.6 | $ | 157.8 | ||||||||
Additions: | ||||||||||||
Current year tax positions | 5.1 | 17.1 | ||||||||||
Prior year tax positions | 0.4 | 27.3 | ||||||||||
Reduction of prior year tax positions | (31.4 | ) | (7.9 | ) | ||||||||
Settlements | (24.6 | ) | (0.2 | ) | ||||||||
Lapse of statute of limitations | (0.2 | ) | (6.0 | ) | ||||||||
Foreign currency translation | (0.1 | ) | 0.5 | |||||||||
Balance December 31 | $ | 137.8 | $ | 188.6 | ||||||||
The majority of the liability for uncertain tax positions is included in long-term liabilities in our balance sheet. Approximately $58.7 million and $69.7 million of the liability for uncertain tax positions at December 31, 2013 and 2012, respectively, would affect our effective tax rate upon resolution of the uncertain tax positions. |
Pension_and_Other_Postemployme
Pension and Other Postemployment Benefits | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Pension and Other Postemployment Benefits [Abstract] | ' | |||||||||||||||
Pension and Other Postemployment Benefits | ' | |||||||||||||||
Pension and Other Postemployment Benefits | ||||||||||||||||
Defined Contribution Plans | ||||||||||||||||
Our domestic and international subsidiaries provide retirement benefits for their employees primarily through defined contribution profit sharing and savings plans. Contributions to these plans vary by subsidiary and have generally been in amounts up to the maximum percentage of total eligible compensation of participating employees that is deductible for income tax purposes. Contribution expense was $109.3 million, $113.5 million and $102.1 million in 2013, 2012 and 2011, respectively. | ||||||||||||||||
Defined Benefit Pension Plans | ||||||||||||||||
Certain of our subsidiaries sponsor noncontributory defined benefit pension plans. Two of our U.S. businesses and several of our non-U.S. businesses sponsor pension plans. These plans provide benefits to employees based on formulas recognizing length of service and earnings. The U.S. plans cover approximately 1,200 participants, are closed to new participants and do not accrue future benefit credits. The non-U.S. plans, which include plans required by local law, cover approximately 6,900 participants and are not covered by ERISA. | ||||||||||||||||
In addition, we have a Senior Executive Restrictive Covenant and Retention Plan (“Retention Plan”) for certain executive officers of Omnicom selected to participate by the Compensation Committee. The Retention Plan is a non-qualified deferred compensation severance plan that was adopted to secure non-competition, non-solicitation, non-disparagement and ongoing consulting services from such executive officers and to strengthen the retention aspect of executive officer compensation. The Retention Plan provides annual payments upon termination following at least seven years of service with Omnicom or its subsidiaries to the participants or to their beneficiaries. A participant’s annual benefit is payable for 15 consecutive calendar years following termination, but in no event prior to age 55. The annual benefit is equal to the lesser of (i) the participant’s final average pay times an applicable percentage, which is based upon the executive’s years of service as an executive officer, not to exceed 35% or (ii) $1.5 million, adjusted for cost-of-living not to exceed 2.5% per year. The Retention Plan is unfunded and benefits will be paid when due. | ||||||||||||||||
The components of net periodic benefit cost for the three years ended December 31, 2013 were (in millions): | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 4.6 | $ | 6.6 | $ | 5.8 | ||||||||||
Interest cost | 7.3 | 7.6 | 6.5 | |||||||||||||
Expected return on plan assets | (3.7 | ) | (3.5 | ) | (3.5 | ) | ||||||||||
Amortization of prior service cost | 3.6 | 3.1 | 3.1 | |||||||||||||
Amortization of actuarial (gains) losses | 3.5 | 1 | 0.3 | |||||||||||||
$ | 15.3 | $ | 14.8 | $ | 12.2 | |||||||||||
Included in accumulated other comprehensive income at December 31, 2013 and 2012 were unrecognized actuarial gains and losses and unrecognized prior service cost of $68.6 million, $42.3 million net of tax, and $90.3 million, $55.5 million net of tax, respectively, that have not yet been recognized in net periodic benefit cost. The unrecognized actuarial gains and losses and unrecognized prior service cost included in accumulated other comprehensive income and expected to be recognized in net periodic benefit cost in 2014 is $6.6 million. | ||||||||||||||||
The weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, 2013 were: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Discount rate | 3.9 | % | 4.6 | % | 5.1 | % | ||||||||||
Compensation increases | 1.6 | % | 1.8 | % | 1.6 | % | ||||||||||
Expected return on plan assets | 5.3 | % | 6 | % | 6.2 | % | ||||||||||
The expected long-term rate of return for plan assets for our U.S. plans is based on several factors, including current and expected asset allocations, historical and expected returns on various asset classes and current and future market conditions. A total return investment approach using a mix of equities and fixed income investments maximizes the long-term return. This strategy is intended to minimize plan expense by achieving long-term returns in excess of the growth in plan liabilities over time. The discount rate used to compute net periodic benefit cost is based on yields of available high-quality bonds and reflects the expected cash flow as of the measurement date. | ||||||||||||||||
The expected returns on plan assets and discount rates for our non-U.S. plans are based on local factors, including each plan’s investment approach, local interest rates and plan participant profiles. | ||||||||||||||||
Experience gains and losses and the effects of changes in actuarial assumptions are generally amortized over a period no longer than the expected average future service of active employees. | ||||||||||||||||
Our funding policy is to contribute amounts sufficient to meet minimum funding requirements in accordance with the applicable employee benefit and tax laws that the plans are subject to, plus such additional amounts as we may determine to be appropriate. We contributed $5.5 million, $9.1 million, $7.8 million to our defined benefit pension plans in 2013, 2012 and 2011, respectively. We do not expect our 2014 contributions to differ materially from our 2013 contributions. | ||||||||||||||||
At December 31, 2013 and 2012, the benefit obligation, fair value of plan assets and the funded status of our defined benefit pension plans were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Benefit Obligation | ||||||||||||||||
Benefit obligation January 1 | $ | 188.4 | $ | 146.3 | ||||||||||||
Service cost | 4.6 | 6.6 | ||||||||||||||
Interest cost | 7.3 | 7.6 | ||||||||||||||
Amendments, curtailments and settlements | 7.6 | — | ||||||||||||||
Actuarial (gains) losses | (18.0 | ) | 30.5 | |||||||||||||
Benefits paid | (5.1 | ) | (4.7 | ) | ||||||||||||
Foreign currency translation and other | 0.9 | 2.1 | ||||||||||||||
Benefit obligation December 31 | $ | 185.7 | $ | 188.4 | ||||||||||||
Fair Value of Plan Assets | ||||||||||||||||
Fair value of assets January 1 | $ | 62.7 | $ | 50.5 | ||||||||||||
Actual return on plan assets | 8.1 | 6.5 | ||||||||||||||
Employer contributions | 5.5 | 9.1 | ||||||||||||||
Benefits paid | (5.1 | ) | (4.7 | ) | ||||||||||||
Foreign currency translation and other | 1 | 1.3 | ||||||||||||||
Fair value of plan assets December 31 | $ | 72.2 | $ | 62.7 | ||||||||||||
Funded Status December 31 | $ | (113.5 | ) | $ | (125.7 | ) | ||||||||||
At December 31, 2013 and 2012 the funded status was classified as follows (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Other assets | $ | 5.6 | $ | 3.5 | ||||||||||||
Other current liabilities | (1.1 | ) | (1.4 | ) | ||||||||||||
Long-term liabilities | (118.0 | ) | (127.8 | ) | ||||||||||||
$ | (113.5 | ) | $ | (125.7 | ) | |||||||||||
The accumulated benefit obligation for our defined benefit pension plans at December 31, 2013 and 2012, was $173.0 million and $176.5 million, respectively. | ||||||||||||||||
At December 31, 2013 and 2012, plans with benefit obligations in excess of plan assets were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Benefit obligation | $ | 143.1 | $ | 168.8 | ||||||||||||
Plan assets | 24 | 39.6 | ||||||||||||||
$ | 119.1 | $ | 129.2 | |||||||||||||
The weighted average assumptions used to determine the benefit obligation at December 31, 2013 and 2012, were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Discount rate | 4.4 | % | 3.7 | % | ||||||||||||
Compensation increases | 1.6 | % | 1.7 | % | ||||||||||||
At December 31, 2013, the estimated benefits expected to be paid over the next 10 years are (in millions): | ||||||||||||||||
2014 | $ | 4.6 | ||||||||||||||
2015 | 6.6 | |||||||||||||||
2016 | 6.5 | |||||||||||||||
2017 | 6.6 | |||||||||||||||
2018 | 7.7 | |||||||||||||||
2019 - 2023 | 61.9 | |||||||||||||||
The fair value of plan assets at December 31, 2013 and 2012 was (in millions): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
2013 | ||||||||||||||||
Cash | $ | 2.1 | $ | 2.1 | ||||||||||||
Mutual funds | 42.5 | 42.5 | ||||||||||||||
Unit trusts | 23.3 | 23.3 | ||||||||||||||
Insurance contracts | $ | 3.4 | 3.4 | |||||||||||||
Other | $ | 0.9 | 0.9 | |||||||||||||
$ | 67.9 | $ | 0.9 | $ | 3.4 | $ | 72.2 | |||||||||
2012 | ||||||||||||||||
Cash | $ | 2.3 | $ | 2.3 | ||||||||||||
Mutual funds | 36.8 | 36.8 | ||||||||||||||
Unit trusts | 20.6 | 20.6 | ||||||||||||||
Insurance contracts | $ | 2.9 | 2.9 | |||||||||||||
Other | $ | 0.1 | 0.1 | |||||||||||||
$ | 59.7 | $ | 0.1 | $ | 2.9 | $ | 62.7 | |||||||||
Mutual funds and unit trusts are publicly traded and are valued using quoted market prices. The mutual funds and unit trusts include investments in equity and fixed income securities. Insurance contracts primarily consist of guaranteed investment contracts. Other investments primarily consist of commingled short-term investment funds. | ||||||||||||||||
Changes in the fair value of plan assets measured using Level 3 inputs at December 31, 2013 and 2012, were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Balance January 1 | $ | 2.9 | $ | 1.7 | ||||||||||||
Actual return on assets | 0.1 | 0.1 | ||||||||||||||
Purchases, sales and settlements, net | 0.4 | 1.1 | ||||||||||||||
Balance December 31 | $ | 3.4 | $ | 2.9 | ||||||||||||
The weighted average asset allocations at December 31, 2013 and 2012 were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Target | Actual | Actual | ||||||||||||||
Allocation | Allocation | Allocation | ||||||||||||||
Cash | 2 | % | 3 | % | 3 | % | ||||||||||
Mutual funds | 57 | % | 59 | % | 59 | % | ||||||||||
Unit trusts | 34 | % | 32 | % | 33 | % | ||||||||||
Insurance contracts | 5 | % | 5 | % | 5 | % | ||||||||||
Other | 2 | % | 1 | % | — | % | ||||||||||
100 | % | 100 | % | 100 | % | |||||||||||
Risk tolerance for these plans is established through consideration of plan liabilities, funded status and evaluation of the overall investment environment. The investment portfolios contain a diversified blend of equity and fixed-income investments. Equity investments are diversified across geography and market capitalization through investment in large and medium capitalization U.S. and international equities and U.S. and international debt securities. Investment risk is measured and monitored on an ongoing basis through annual liability measurements, and periodic asset/liability studies and investment portfolio reviews. | ||||||||||||||||
Postemployment Arrangements | ||||||||||||||||
We have executive retirement agreements under which benefits will be paid to participants or to their beneficiaries over periods up to ten years beginning after cessation of full-time employment. Our postemployment arrangements are unfunded and benefits are paid when due. | ||||||||||||||||
The components of net periodic benefit cost for the three years ended December 31, 2013 were (in millions): | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 4.1 | $ | 4.1 | $ | 3.9 | ||||||||||
Interest cost | 4.3 | 4.7 | 4.7 | |||||||||||||
Amortization of prior service cost | 1.9 | 0.7 | 0.6 | |||||||||||||
Amortization of actuarial (gains) losses | 1.5 | 2 | 2.1 | |||||||||||||
$ | 11.8 | $ | 11.5 | $ | 11.3 | |||||||||||
Included in accumulated other comprehensive income at December 31, 2013 and 2012 were unrecognized actuarial gains and losses and unrecognized prior service cost of $44.2 million, $26.5 million net of income taxes, and $57.2 million, $34.3 million net of income taxes, respectively, that have not yet been recognized in the net periodic benefit cost. The unrecognized actuarial gains and losses and unrecognized prior service cost included in accumulated other comprehensive income and expected to be recognized in net periodic benefit cost in 2014 is $3.0 million. | ||||||||||||||||
The weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, 2013 were: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Discount rate | 4.1 | % | 4.9 | % | 5 | % | ||||||||||
Compensation increases | 3.5 | % | 3.5 | % | 3.5 | % | ||||||||||
Experience gains and losses and effects of changes in actuarial assumptions are amortized over a period no longer than the expected average future service of active employees. | ||||||||||||||||
At December 31, 2013 and 2012, the benefit obligation was (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Benefit obligation January 1 | $ | 118.7 | $ | 105.2 | ||||||||||||
Service cost | 4.1 | 4.1 | ||||||||||||||
Interest cost | 4.3 | 4.7 | ||||||||||||||
Plan Amendments | 2.8 | — | ||||||||||||||
Actuarial (gains) losses | (12.3 | ) | 15 | |||||||||||||
Benefits paid | (13.4 | ) | (10.3 | ) | ||||||||||||
Benefit obligation December 31 | $ | 104.2 | $ | 118.7 | ||||||||||||
At December 31, 2013 and 2012, the liability was classified as follows (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Other current liabilities | $ | 9.3 | $ | 9.9 | ||||||||||||
Long-term liabilities | 94.9 | 108.8 | ||||||||||||||
$ | 104.2 | $ | 118.7 | |||||||||||||
The weighted average assumptions used to determine the benefit obligation at December 31, 2013 and 2012, were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Discount rate | 4.7 | % | 3.7 | % | ||||||||||||
Compensation increases | 3.5 | % | 3.5 | % | ||||||||||||
At December 31, 2013, the estimated benefits expected to be paid over the next 10 years are (in millions): | ||||||||||||||||
2014 | $ | 9.3 | ||||||||||||||
2015 | 9 | |||||||||||||||
2016 | 9 | |||||||||||||||
2017 | 7.3 | |||||||||||||||
2018 | 6.8 | |||||||||||||||
2019 - 2023 | 25.6 | |||||||||||||||
Supplemental_Cash_Flow_Data
Supplemental Cash Flow Data | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Data [Abstract] | ' | |||||||||||
Supplemental Cash Flow Data | ' | |||||||||||
Supplemental Cash Flow Data | ||||||||||||
The change in operating capital for the three years ended December 31, 2013 was (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Increase) decrease in accounts receivable | $ | 244.8 | $ | (218.7 | ) | $ | (471.4 | ) | ||||
(Increase) decrease in work in process and other current assets | (354.5 | ) | 4.8 | (53.2 | ) | |||||||
Increase (decrease) in accounts payable | 143.5 | 127.8 | 262.7 | |||||||||
Increase (decrease) in customer advances and other current liabilities | 252.6 | (151.8 | ) | (4.5 | ) | |||||||
Change in other assets and liabilities, net | 64.9 | 263.1 | 295.6 | |||||||||
$ | 351.3 | $ | 25.2 | $ | 29.2 | |||||||
Income taxes paid | $ | 472.4 | $ | 321.1 | $ | 365.4 | ||||||
Interest paid | $ | 192.8 | $ | 165.5 | $ | 153.9 | ||||||
In connection with the conversion of our 2033 Notes and our 2038 Notes in May 2013, we issued 1,499,792 shares of our common stock to satisfy the conversion premium. Based on the closing prices of our common stock on the settlement dates, these issuances resulted in a non-cash pre-tax financing activity of $95.4 million, excluding the cash tax benefit of $34.5 million. |
Noncontrolling_Interests
Noncontrolling Interests | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noncontrolling Interests [Abstract] | ' | |||||||||||
Noncontrolling Interests | ' | |||||||||||
Noncontrolling Interests | ||||||||||||
Changes in our ownership interests in our less than 100% owned subsidiaries during the three years ended December 31, 2013, were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net income attributed to Omnicom Group Inc. | $ | 991.1 | $ | 998.3 | $ | 952.6 | ||||||
Transfers (to) from noncontrolling interests: | ||||||||||||
Increase in additional paid-in capital from sale of shares in noncontrolling interests | 5.2 | 2.6 | 4.8 | |||||||||
Decrease in additional paid-in capital from purchase of shares in noncontrolling interests | (22.0 | ) | (30.7 | ) | (37.6 | ) | ||||||
Net transfers (to) from noncontrolling interests | (16.8 | ) | (28.1 | ) | (32.8 | ) | ||||||
Changes in net income attributed to Omnicom Group Inc. and | $ | 974.3 | $ | 970.2 | $ | 919.8 | ||||||
transfers (to) from noncontrolling interests | ||||||||||||
Leases
Leases | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Leases [Abstract] | ' | |||||||||||||||
Leases | ' | |||||||||||||||
Leases | ||||||||||||||||
We lease substantially all our office space under operating leases and certain equipment under operating and capital leases that expire at various dates. Office leases may provide for additional renewal periods at our option. In circumstances where the exercise of the renewal option is reasonably assured at the inception of the lease, the renewal period is included in the determination of the lease term. Additionally, office leases may include scheduled rent increases and concessions, such as rent abatements and landlord incentives and tenant improvement allowances. Scheduled rent increases are recognized on a straight-line basis over the lease term. Concessions are recorded as deferred rent and are amortized to rent expense on a straight-line basis over the lease term. Certain office leases require payment of real estate taxes and other occupancy costs. These costs are not included in rent expense. Leasehold improvements made at inception or during the lease term are amortized over the shorter of the asset life or the lease term, which may include renewal periods where the renewal is reasonably assured. | ||||||||||||||||
Rent expense for the three years ended December 31, 2013, was (in millions): | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Office base rent | $ | 379.9 | $ | 390.5 | $ | 381.6 | ||||||||||
Less third party sublease rent | 10.6 | 10.4 | 12.8 | |||||||||||||
Net office rent | 369.3 | 380.1 | 368.8 | |||||||||||||
Equipment rent | 33.1 | 36.3 | 42.7 | |||||||||||||
$ | 402.4 | $ | 416.4 | $ | 411.5 | |||||||||||
Future minimum lease payments under non-cancelable operating and capital leases, reduced by third party sublease rent receivable from existing non-cancelable subleases, are (in millions): | ||||||||||||||||
Operating Leases | Capital Leases | |||||||||||||||
Gross | Less | Net | Minimum | |||||||||||||
Rent | Sublease Rent | Rent | Lease Payments | |||||||||||||
2014 | $ | 380.4 | $ | 8.6 | $ | 371.8 | $ | 22.8 | ||||||||
2015 | 268.7 | 4 | 264.7 | 15.7 | ||||||||||||
2016 | 195.3 | 1.6 | 193.7 | 8.6 | ||||||||||||
2017 | 139.1 | 1.5 | 137.6 | 4.6 | ||||||||||||
2018 | 111.2 | 0.4 | 110.8 | 3.3 | ||||||||||||
Thereafter | 302.9 | — | 302.9 | 2.4 | ||||||||||||
$ | 1,397.60 | $ | 16.1 | $ | 1,381.50 | |||||||||||
Total minimum lease payments | 57.4 | |||||||||||||||
Less interest component | 2 | |||||||||||||||
Present value of minimum lease payments | $ | 55.4 | ||||||||||||||
Property under capital lease and capital lease obligations as of December 31, 2013 and 2012 were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Property under capital lease: | ||||||||||||||||
Cost | $ | 134 | $ | 126.3 | ||||||||||||
Accumulated depreciation | (80.5 | ) | (71.3 | ) | ||||||||||||
$ | 53.5 | $ | 55 | |||||||||||||
Capital lease obligations: | ||||||||||||||||
Current | $ | 22.2 | $ | 23.4 | ||||||||||||
Long-term | 33.2 | 33.9 | ||||||||||||||
$ | 55.4 | $ | 57.3 | |||||||||||||
Depreciation expense for property under capital lease was $26.4 million, $25.9 million and $25.0 million in 2013, 2012 and 2011, respectively. |
Temporary_Equity_Redeemable_No
Temporary Equity - Redeemable Noncontrolling Interests | 12 Months Ended |
Dec. 31, 2013 | |
Temporary Equity - Redeemable Noncontrolling Interests [Abstract] | ' |
Temporary Equity - Redeemable Noncontrolling Interests | ' |
Temporary Equity - Redeemable Noncontrolling Interests | |
Owners of noncontrolling equity interests in some of our subsidiaries have the right in certain circumstances to require us to purchase all or a portion of their equity interests at fair value as defined in the applicable agreements. Assuming that the subsidiaries perform over the relevant periods at their current profit levels, at December 31, 2013, the aggregate estimated maximum amount we could be required to pay in future periods is $202.0 million, of which $110.1 million is currently exercisable by the holders. If these rights are exercised, there would be an increase in the net income attributable to Omnicom as a result of our increased ownership interest and the reduction of net income attributable to noncontrolling interests. The ultimate amount paid could be significantly different because the redemption amount is primarily dependent on the future results of operations of the subject businesses, the timing of the exercise of these rights and changes in foreign currency exchange rates. |
Commitments_and_Contingent_Lia
Commitments and Contingent Liabilities | 12 Months Ended |
Dec. 31, 2013 | |
Commitments and Contingent Liabilities [Abstract] | ' |
Commitments and Contingent Liabilities | ' |
Commitments and Contingent Liabilities | |
A putative class action challenging the merger was filed on August 5, 2013 on behalf of Omnicom shareholders in the Supreme Court of the State of New York, New York County. The action, entitled Ansfield v. Wren, et al., names as defendants Omnicom and its board of directors, as well as Publicis and HoldCo. It alleges that the members of the Omnicom board breached their fiduciary duties by, among other things, approving a merger that is purportedly detrimental to Omnicom’s shareholders. The action also alleges that Publicis aided and abetted the Omnicom board’s breach of their fiduciary duties. The action seeks an injunction barring or rescinding the Business Combination, damages and attorneys’ fees and costs. | |
Two additional purported class actions were subsequently filed in the Supreme Court of the State of New York, New York County: Lee v. Omnicom Group, et al., filed on August 14, 2013, and Fultz v. Crawford et al., filed on August 20, 2013. Both of these actions name as defendants Omnicom and its board of directors, as well as Publicis, and make substantially the same allegations and seek substantially the same relief as the Ansfield case. | |
On August 19, 2013, plaintiffs in the Ansfield and Lee actions filed a motion to consolidate those actions with each other and with all subsequently filed or transferred actions arising out of the same facts and circumstances, to select plaintiffs as lead plaintiffs and to approve plaintiffs’ selection of counsel as co-lead counsel. On October 3, 2013, plaintiffs in all three cases asked the Court to consolidate the three cases, and to approve lead plaintiffs and plaintiffs’ selection of counsel as co-lead counsel. | |
On October 24, 2013, the Court approved plaintiffs’ motion to consolidate the Ansfield, Lee, and Fultz actions with each other and with all subsequently filed or transferred actions arising out of the same facts and circumstances under the caption: In re Omnicom Group Inc. Shareholder Litigation, Index No. 652737/2013, and in the same order appointed co-lead counsel. On October 29, 2013, the Court approved the parties’ stipulation requiring plaintiffs to file an amended complaint within three weeks after HoldCo files a preliminary proxy statement/prospectus. | |
Omnicom believes the consolidated lawsuit is without merit and intends to defend vigorously against it. Due to the inherent uncertainties of such matters, and because discovery is not yet completed, we are unable to predict potential outcomes or estimate of the range of potential damages, if any. Management does not presently expect that the outcome of this matter will have a material adverse effect on our results of operations or financial position. | |
In the ordinary course of business, we are involved in various other legal proceedings. We do not presently expect that these other proceedings will have a material adverse effect on our results of operations or financial position. |
Fair_Value
Fair Value | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value [Abstract] | ' | ||||||||||||||||
Fair Value | ' | ||||||||||||||||
Fair Value | |||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2013 and 2012 were (in millions): | |||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 2,710.50 | $ | 2,710.50 | |||||||||||||
Short-term investments | 18.2 | 18.2 | |||||||||||||||
Available-for-sale securities | 4.9 | 4.9 | |||||||||||||||
Forward foreign exchange contracts | $ | 2.2 | 2.2 | ||||||||||||||
Liabilities: | |||||||||||||||||
Forward foreign exchange contracts | $ | 0.1 | $ | 0.1 | |||||||||||||
Contingent interest derivative | 2.1 | 2.1 | |||||||||||||||
Contingent purchase price obligations | $ | 220.2 | 220.2 | ||||||||||||||
2012 | |||||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 2,678.30 | $ | 2,678.30 | |||||||||||||
Short-term investments | 20.6 | 20.6 | |||||||||||||||
Available-for-sale securities | 3.9 | 3.9 | |||||||||||||||
Forward foreign exchange contracts | $ | 0.5 | 0.5 | ||||||||||||||
Liabilities: | |||||||||||||||||
Contingent purchase price obligations | $ | 266.2 | $ | 266.2 | |||||||||||||
The changes in Level 3 contingent purchase price obligations for the years ended December 31, 2013 and 2012 were (in millions): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance January 1 | $ | 266.2 | $ | 142.6 | |||||||||||||
Acquisitions | 35.8 | 165.2 | |||||||||||||||
Revaluation and interest | (10.9 | ) | (13.2 | ) | |||||||||||||
Payments | (70.5 | ) | (32.2 | ) | |||||||||||||
Foreign currency translation | (0.4 | ) | 3.8 | ||||||||||||||
Balance December 31 | $ | 220.2 | $ | 266.2 | |||||||||||||
The carrying amount and fair value of our financial instruments at December 31, 2013 and 2012 were (in millions): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 2,710.50 | $ | 2,710.50 | $ | 2,678.30 | $ | 2,678.30 | |||||||||
Short-term investments | 18.2 | 18.2 | 20.6 | 20.6 | |||||||||||||
Forward foreign exchange contracts | 2.2 | 2.2 | 0.5 | 0.5 | |||||||||||||
Available-for-sale securities | 4.9 | 4.9 | 3.9 | 3.9 | |||||||||||||
Cost method investments | 22.2 | 22.2 | 23.1 | 23.1 | |||||||||||||
Liabilities: | |||||||||||||||||
Short-term borrowings | $ | 5.9 | $ | 5.9 | $ | 6.4 | $ | 6.4 | |||||||||
Forward foreign exchange contracts | 0.1 | 0.1 | — | — | |||||||||||||
Contingent interest derivative | 2.1 | 2.1 | — | — | |||||||||||||
Contingent purchase price obligations | 220.2 | 220.2 | 266.2 | 266.2 | |||||||||||||
Debt | 4,033.80 | 4,302.70 | 4,448.90 | 4,857.30 | |||||||||||||
The estimated fair value of derivative positions in forward foreign exchange contracts is determined using model-derived valuations, taking into consideration market rates and counterparty credit risk. Forward foreign exchange contracts are included in other current assets and other current liabilities in our balance sheet at December 31, 2013 and in other current assets in our balance sheet at December 31, 2012. The estimated fair value of the contingent purchase price obligations is calculated in accordance with the terms of each acquisition agreement and are appropriately discounted. The fair value of debt is based on quoted market prices. |
Derivative_Instruments_and_Hed
Derivative Instruments and Hedging Activities | 12 Months Ended |
Dec. 31, 2013 | |
Derivative Instruments and Hedging Activities [Abstract] | ' |
Derivative Instruments and Hedging Activities | ' |
Derivative Instruments and Hedging Activities | |
As a global service business, we operate in multiple foreign currencies and issue debt in the capital markets. In the normal course of business, we are exposed to foreign currency fluctuations and the impact of interest rate changes. We limit these risks through risk management policies and procedures, including the use of derivatives. For foreign currency exposure, derivatives are used as an economic hedge to better manage the cash flow volatility arising from foreign exchange rate fluctuations. For interest rate exposure, derivatives have been used to manage the related cost of debt. | |
As a result of using derivative instruments, we are exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. To mitigate counterparty credit risk, we have a policy of only entering into contracts with carefully selected major financial institutions based on specific minimum credit standards and other factors. | |
We evaluate the effects of changes in foreign currency exchange rates, interest rates and other relevant market risks on our derivative instruments. We periodically determine the potential loss from market risk on our derivative instruments by performing a value-at-risk ("VaR") analysis. VaR is a statistical model that utilizes historical currency exchange and interest rate data to measure the potential impact on future earnings of our derivative financial instruments assuming normal market conditions. The VaR model is not intended to represent actual losses but is used as a risk estimation and management tool. Based on the results of the model, we estimate with 95% confidence a maximum one-day loss in fair value on our derivative financial instruments at December 31, 2013 was not material. | |
Foreign Exchange Risk | |
Our regional treasury centers in North America, Europe and Asia centralize and manage our cash. As an integral part of our treasury operations, we use multicurrency pool arrangements to manage the foreign exchange risk between subsidiaries and the treasury centers from which they borrow or invest funds. In certain circumstances, instead of using a multicurrency pool, operations can borrow or invest on an intercompany basis with a treasury center operating in a different currency. To manage the foreign exchange risk associated with these transactions, we use forward foreign exchange contracts. At December 31, 2013 and 2012, we had outstanding forward foreign exchange contracts with an aggregate notional amount of $207.0 million and $181.5 million, respectively, mitigating the foreign exchange risk of the intercompany borrowing and investment activities. Additionally, the treasury centers use forward foreign exchange contracts to mitigate the foreign currency risk associated with activities when revenue and expenses are not denominated in the same currency. In these instances, amounts are promptly settled or hedged with forward foreign exchange contracts. At December 31, 2013 and 2012, we had outstanding forward foreign exchange contracts with an aggregate notional amount of $56.2 million and $63.6 million, respectively, mitigating the foreign exchange risk related to these activities. See Note 18 for a discussion of the fair value of these instruments. The terms of our forward contracts are generally less than 90 days. The changes in the fair value of these contracts and of the underlying exposures generally offset and are included in our results of operations. By using these financial instruments, we reduced financial risk of adverse foreign exchange changes by foregoing any gain (reward) which might have occurred if the markets moved favorably. | |
Interest Rate Risk | |
From time to time, we have issued debt in the capital markets. In prior years we have used interest rate swaps to manage our overall interest cost. At December 31, 2013 and 2012, there were no interest rate swaps outstanding. |
New_Accounting_Standards
New Accounting Standards | 12 Months Ended |
Dec. 31, 2013 | |
New Accounting Standards [Abstract] | ' |
New Accounting Standards | ' |
New Accounting Standards | |
On January 1, 2013, we adopted FASB Accounting Standards Update (“ASU”) No. 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities (“ASU 2013-01”). ASU 2013-01 amended existing guidance by requiring additional disclosure about financial instruments and derivative instruments that are either (1) offset in the statement of financial position or (2) subject to an enforceable master netting arrangement. ASU 2013-01 requires retrospective disclosure for all comparative periods. The adoption of ASU 2013-01 did not have a significant impact on our financial position or financial statement disclosure. | |
In March 2013, the FASB issued ASU 2013-05, Foreign Currency Matters (Topic 830): Parents Accounting for Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity (“ASU 2013-05”). Under ASU 2013-05 when: (1) a parent sells an investment in a foreign entity and ceases to have a controlling interest in that foreign entity or a foreign subsidiary disposes of substantially all of its assets or (2) control of a foreign entity is obtained in which it held an equity interest before the acquisition date, the cumulative translation adjustment should be released into net income. ASU 2013-05 is effective prospectively for annual and interim periods beginning January 1, 2014, but early adoption is permitted. The adoption of ASU 2013-05 did not have a significant impact on our results of operations or financial position. | |
In July 2013, the FASB issued ASU 2013-11, Income Taxes (Topic 740): Presentation of an Unrecognized Tax benefit When a Net Operating Loss Carryforward, a Similar tax Loss, or a Tax Credit Carryforward Exists (“ASU 2013-11”). ASU 2013-11 eliminates a diversity in practice regarding the presentation of an unrecognized tax benefit when a net operating loss carryforward or a tax credit carryforward exists. ASU 2013-11 is effective prospectively for annual and interim periods beginning January 1, 2014, but early adoption is permitted. The adoption of ASU 2013-11 did not have a significant impact on our results of operations or financial position. |
Changes_in_Accumulated_Other_C
Changes in Accumulated Other Comprehensive Income (Loss) (Notes) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) | ' | |||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) | ||||||||||||||||
The changes in accumulated other comprehensive income (loss) for the year ended December 31, 2013 were (in millions): | ||||||||||||||||
Unrealized | Defined Benefit Pension and Postemployment Plans | Foreign Currency Translation | Total | |||||||||||||
Gain (Loss) on Available-for-Sale Securities | ||||||||||||||||
Balance January 1 | $ | (2.0 | ) | $ | (89.8 | ) | $ | (37.7 | ) | $ | (129.5 | ) | ||||
Other comprehensive income (loss) before reclassifications | 0.4 | — | (83.5 | ) | (83.1 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 21 | — | 21 | ||||||||||||
Other comprehensive income (loss) | 0.4 | 21 | (83.5 | ) | (62.1 | ) | ||||||||||
Balance December 31 | $ | (1.6 | ) | $ | (68.8 | ) | $ | (121.2 | ) | $ | (191.6 | ) | ||||
Reclassifications from accumulated other comprehensive income (loss) for the year ended December 31, 2013 were (in millions): | ||||||||||||||||
Amortization of defined benefit pension and postemployment plans: | ||||||||||||||||
Prior service cost | $ | 5.5 | ||||||||||||||
Actuarial (gains) losses | 5 | |||||||||||||||
Net periodic benefit cost (see Note 12) | 10.5 | |||||||||||||||
Income tax expense | 4.2 | |||||||||||||||
Net of tax | $ | 6.3 | ||||||||||||||
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
Subsequent Events | |
We have evaluated events subsequent to the balance sheet date and determined there have not been any events that have occurred that would require adjustment to or disclosure in our financial statements. |
Quarterly_Results_of_Operation
Quarterly Results of Operations (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Results of Operations (Unaudited) [Abstract] | ' | |||||||||||||||
Quarterly Results of Operations (Unaudited) | ' | |||||||||||||||
Quarterly Results of Operations (Unaudited) | ||||||||||||||||
(In millions, except per share amounts) | ||||||||||||||||
The Company’s unaudited quarterly results of operations for the years ended December 31, 2013 and 2012 were: | ||||||||||||||||
Quarter | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Revenue | ||||||||||||||||
2013 | $ | 3,398.90 | $ | 3,637.00 | $ | 3,490.50 | $ | 4,058.10 | ||||||||
2012 | 3,307.30 | 3,561.00 | 3,406.60 | 3,944.50 | ||||||||||||
Operating Expenses (a) | ||||||||||||||||
2013 | 3,027.20 | 3,114.00 | 3,111.10 | 3,506.90 | ||||||||||||
2012 | 2,944.80 | 3,054.60 | 3,019.30 | 3,396.50 | ||||||||||||
Operating Income | ||||||||||||||||
2013 | 371.7 | 523 | 379.4 | 551.2 | ||||||||||||
2012 | 362.5 | 506.4 | 387.3 | 548 | ||||||||||||
Net Income - Omnicom Group Inc. | ||||||||||||||||
2013 | 205.1 | 289.5 | 196 | 300.5 | ||||||||||||
2012 | 204.6 | 282.7 | 203.9 | 307.1 | ||||||||||||
Net Income Per Share Omnicom Group Inc. - Basic | ||||||||||||||||
2013 | 0.76 | 1.09 | 0.74 | 1.14 | ||||||||||||
2012 | 0.73 | 1.03 | 0.75 | 1.13 | ||||||||||||
Net Income Per Share Omnicom Group Inc. - Diluted | ||||||||||||||||
2013 | 0.76 | 1.09 | 0.74 | 1.13 | ||||||||||||
2012 | 0.72 | 1.02 | 0.74 | 1.13 | ||||||||||||
__________ | ||||||||||||||||
(a) Operating Expenses for the third and fourth quarters of 2013 include expenses we incurred in connection with the proposed merger with Publicis, which are primarily comprised of professional fees of $28.1 million ($21.7 million net of income taxes) and $13.3 million ($13.2 million net of income taxes), respectively. |
SCHEDULE_II_VALUATION_AND_QUAL
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Schedule II [Abstract] | ' | |||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | ' | |||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
For the Three Years Ended December 31, 2013 | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Description | Balance at | Charged | Removal of | Translation | Balance at | |||||||||||||||
Beginning | to Costs | Uncollectible | Adjustments | End of | ||||||||||||||||
of Period | and Expenses | Receivables | (Increase) Decrease | Period | ||||||||||||||||
Valuation accounts deducted from assets: | ||||||||||||||||||||
Allowance for Doubtful Accounts: | ||||||||||||||||||||
December 31, 2013 | $ | 35.9 | $ | 9.7 | $ | 12.8 | $ | 0.2 | $ | 32.6 | ||||||||||
December 31, 2012 | 40.6 | 11.4 | 16.5 | (0.4 | ) | 35.9 | ||||||||||||||
December 31, 2011 | 46.7 | 8.1 | 13.2 | 1 | 40.6 | |||||||||||||||
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||||
Revenue Recognition, Policy | ' | |||||||||||
Revenue Recognition. We recognize revenue in accordance with FASB Accounting Standards Codification (“FASB ASC”) Topic 605, Revenue Recognition, and applicable SEC Staff Accounting Bulletins. Substantially all of our revenue is derived from fees for services based on a rate per hour or equivalent basis. Revenue is realized when the service is performed in accordance with the client arrangement and upon the completion of the earnings process. Prior to recognizing revenue, persuasive evidence of an arrangement must exist, the sales price must be fixed or determinable, delivery, performance and acceptance must be in accordance with the client arrangement and collection must be reasonably assured. These principles are the foundation of our revenue recognition policy and apply to all client arrangements in each of our service disciplines: advertising, customer relationship management, public relations and specialty communications. Certain of our businesses earn a portion of their revenue as commissions based on performance in accordance with client arrangements. Because the services that we provide across each of our disciplines are similar and delivered to clients in similar ways, all of the key elements of our revenue recognition policy apply to client arrangements in each of our four disciplines. Revenue is recorded net of sales, use and value added taxes. | ||||||||||||
In the majority of our businesses, we act as an agent and record revenue equal to the net amount retained when the fee or commission is earned. Although we may bear credit risk with respect to these activities, the arrangements with our clients are such that we act as an agent on their behalf. In these cases, costs incurred with third-party suppliers are excluded from our revenue. In certain arrangements, we act as principal and we contract directly with third-party suppliers and media providers and production companies and we are responsible for payment. In these circumstances, revenue is recorded at the gross amount billed since revenue has been earned for the sale of goods or services. | ||||||||||||
Some of our client arrangements include performance incentive provisions designed to link a portion of our revenue to our performance relative to quantitative and qualitative goals. We recognize performance incentives in revenue when specific quantitative goals are achieved, or when our performance against qualitative goals is determined by our clients. | ||||||||||||
Operating Expenses, Policy | ' | |||||||||||
Operating Expenses. Operating expenses are comprised of salary and service costs and office and general expenses. Salary and service costs consist of employee compensation and related costs and direct service costs. Office and general costs consist of rent and occupancy costs, technology costs, depreciation and amortization and other overhead expenses. Beginning in the second half of 2013 we incurred $41.4 million of expenses in connection with the pending merger with Publicis, which are primarily comprised of professional fees. The merger expenses are shown as a separate component of operating expenses. | ||||||||||||
Operating expenses for the three years ended December 31, 2013 were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Salary and service costs | $ | 10,724.40 | $ | 10,406.80 | $ | 10,276.90 | ||||||
Office and general expenses | 1,993.40 | 2,008.40 | 1,924.50 | |||||||||
Merger expenses | 41.4 | — | — | |||||||||
Operating expenses | $ | 12,759.20 | $ | 12,415.20 | $ | 12,201.40 | ||||||
Cash and Cash Equivalents, Policy | ' | |||||||||||
Cash and Cash Equivalents. Cash and cash equivalents consist of cash held in banks and interest-bearing time deposits with original maturities of three months or less. We have policies governing counterparty credit risk with financial institutions that hold our cash and cash equivalents and we have deposit limits for each financial institution. | ||||||||||||
Short-Term Investments, Policy | ' | |||||||||||
Short-Term Investments. Short-term investments primarily consist of time deposits with financial institutions that we expect to convert into cash within our current operating cycle, generally one year. Short-term investments are carried at cost, which approximates fair value. | ||||||||||||
Work in Process, Policy | ' | |||||||||||
Work in Process. Work in process consists of costs incurred on behalf of clients in providing advertising, marketing and corporate communications services, including media and production costs, and fees that have not yet been billed. Media and production costs are billed during the production process and fees are generally billed within the next 30 days. | ||||||||||||
Available-for-Sale Securities, Policy | ' | |||||||||||
Available-for-Sale Securities. Investments in publicly traded equity securities are classified as available-for-sale securities. These investments are carried at fair value using quoted market prices and are included in other assets in our balance sheet. Unrealized gains and losses are recorded as a component of accumulated other comprehensive income. The carrying value of the available-for-sale securities was $4.9 million and $3.9 million at December 31, 2013 and 2012, respectively. | ||||||||||||
Property and Equipment, Policy | ' | |||||||||||
Property and Equipment. Property and equipment are carried at cost less accumulated depreciation. Depreciation is provided on a straight-line basis over the estimated useful lives of the assets ranging from seven to ten years for furniture and three to five years for equipment. Leasehold improvements are amortized on a straight-line basis over the shorter of the related lease term or the estimated useful life of the asset. Property under capital lease is depreciated on a straight-line basis over the lease term. | ||||||||||||
Equity Method Investments, Policy | ' | |||||||||||
Equity Method Investments. Investments in non-public companies in which we own less than a 50% equity interest and where we exercise significant influence over the operating and financial policies of the investee are accounted for using the equity method of accounting. Our proportionate share of the net income (loss) of the equity method investments is included in our results of operations. Dividends received reduce the carrying value of our investment. The excess of the cost of our investment over our proportionate share of the fair value of the net assets of the investee at the acquisition date is recognized as goodwill and included in the carrying amount of the investment. Goodwill in our equity method investments is not amortized. We periodically review these investments to determine if there has been an other-than-temporary decline in | ||||||||||||
carrying value. A variety of factors are considered when determining if a decline in carrying value is other-than-temporary, including, among others, the financial condition and prospects of the investee, as well as our investment intent. | ||||||||||||
Cost Method Investments, Policy | ' | |||||||||||
Cost Method Investments. Investments in non-public companies in which we own less than a 20% equity interest and where we do not exercise significant influence over the operating and financial policies of the investee are accounted for using the cost method of accounting. We periodically review these investments to determine if there has been an other-than-temporary decline in fair value below carrying value. A variety of factors are considered when determining if a decline in fair value below carrying value is other-than-temporary, including, among others, the financial condition and prospects of the investee, as well as our investment intent. Cost method investments are carried at cost, which approximates or is less than fair value and are included in other assets in our balance sheet. The carrying value of our cost method investments was $22.2 million and $23.1 million at December 31, 2013 and 2012, respectively | ||||||||||||
Goodwill and Intangible Assets, Policy | ' | |||||||||||
Goodwill and Intangible Assets. Goodwill represents the excess of the acquisition cost over the fair value of the net assets acquired. Goodwill is not amortized, but is periodically tested for impairment. Identifiable intangible assets, which consist primarily of customer relationships, including the related customer contracts and trade names, are amortized over their estimated useful lives ranging from five to ten years. We consider a number of factors in determining the useful lives and amortization method, including the pattern in which the economic benefits are consumed, as well as trade name recognition and customer attrition. No residual value is estimated for the identified intangible assets. | ||||||||||||
We review the carrying value of goodwill for impairment at least annually as of the end of the second quarter and whenever events or circumstances indicate the carrying value may not be recoverable. There is a two-step test for goodwill impairment. In Step 1, we compare the fair value of each reporting unit to its carrying value, including goodwill. If the fair value of the reporting unit is equal to or greater than its carrying value, goodwill is not impaired and no further testing is required. If the carrying value exceeds fair value, then Step 2 of the impairment test is performed in order to determine if the implied fair value of the reporting unit’s goodwill exceeds the carrying value of that goodwill. Goodwill is impaired when the carrying value of a reporting unit's goodwill exceeds the implied fair value of its goodwill. Impaired goodwill is written down to its implied fair value with a charge recorded in results of operations in the period the impairment is identified. | ||||||||||||
We identified our regional reporting units as components of our operating segments, which are our five networks. The regional reporting units of each agency network are responsible for the agencies in their region. They report to the segment managers and facilitate the administrative and logistical requirements of our client-centric strategy for delivering services to clients in their regions. We have concluded that for each of our operating segments, their regional reporting units had similar economic characteristics and should be aggregated for purposes of testing goodwill for impairment at the operating segment level. Our conclusion was based on a detailed analysis of the aggregation criteria set forth in FASB ASC Topic 280, Segment Reporting, and the guidance set forth in FASB ASC Topic 350, Intangibles - Goodwill and Other. Consistent with our fundamental business strategy, the agencies within our regional reporting units serve similar clients in similar industries, and in many cases the same clients. In addition, the agencies within our regional reporting units have similar economic characteristics. The main economic components of each agency are employee compensation and related costs and direct service costs and office and general costs, which include rent and occupancy costs, technology costs that are generally limited to personal computers, servers and off-the-shelf software and other overhead costs. Finally, the expected benefits of our acquisitions are typically shared across multiple agencies and regions as they work together to integrate the acquired agency into our client service strategy. We use the following valuation methodologies to determine the fair value of our reporting units: (1) the income approach which utilizes discounted expected future cash flows, (2) comparative market participant multiples of EBITDA (earnings before interest, taxes, depreciation and amortization) and (3) when available, consideration of recent and similar acquisition transactions. | ||||||||||||
Based on the results of our annual impairment test, we concluded that our goodwill at June 30, 2013 and 2012 was not impaired because the fair value of each of our reporting units were substantially in excess of their respective net book value. Subsequent to our annual impairment test of goodwill at June 30, 2013, there were no events or circumstances that triggered the need for an interim impairment test. | ||||||||||||
Temporary Equity - Redeemable Noncontrolling Interests, Policy | ' | |||||||||||
Temporary Equity - Redeemable Noncontrolling Interests. Owners of noncontrolling equity interests in certain of our subsidiaries have the right in certain circumstances to require us to purchase all or a portion of their equity interests at fair value as defined in the applicable agreements. The intent of the parties is to approximate fair value at the time of redemption by using a multiple of earnings that is consistent with generally accepted valuation practices used by market participants in our industry. These contingent redemption rights are embedded in the equity security at issuance, are not free-standing instruments, do not represent a de facto financing and are not under our control. | ||||||||||||
Treasury Stock, Policy | ' | |||||||||||
Treasury Stock. Repurchases of our common stock are accounted for at cost. Reissued treasury shares, primarily in connection with share-based compensation plans, are accounted for at average cost. Gains or losses on reissued treasury shares are accounted for as additional paid-in capital and do not affect our results of operations. | ||||||||||||
Business Combinations, Policy | ' | |||||||||||
Business Combinations. Business combinations are accounted for using the acquisition method and accordingly, the assets acquired, including identified intangible assets, the liabilities assumed and any noncontrolling interest in the acquired business are recorded at their acquisition date fair values. In circumstances where control is obtained and less than 100% of an entity is acquired, we record 100% of the goodwill acquired. Acquisition-related costs, including advisory, legal, accounting, valuation and other costs are expensed as incurred. Certain of our acquisitions include an initial payment at closing and provide for future additional contingent purchase price payments (earn-outs). Contingent purchase price obligations are recorded as a liability at the acquisition date fair value using the discount rate in affect at the acquisition date. Subsequent changes in the fair value of the liability is recorded in our results of operations. Generally, there is no cap on the amount that can be earned under the contingent purchase price arrangements and payments are not contingent upon future employment. The results of operations of acquired businesses are included in our results of operations from the acquisition date. | ||||||||||||
Subsidiary and Equity Investment Stock Transactions, Policy | ' | |||||||||||
Subsidiary and Equity Investment Stock Transactions. Transactions involving the purchase, sale or issuance of stock of a subsidiary where control is maintained are recorded as an increase or decrease in additional paid-in capital. Gains and losses from transactions involving subsidiary stock where control is lost are recorded in results of operations. Gains and losses from transactions involving stock of an equity investment are recorded in results of operations until control is achieved. In circumstances where the purchase of shares of an equity investment results in obtaining control, the existing carrying value of the investment is remeasured to the acquisition date fair value and any gain or loss is recognized in results of operations. | ||||||||||||
Foreign Currency Translation and Transactions, Policy | ' | |||||||||||
Foreign Currency Translation and Transactions. Substantially all of our foreign subsidiaries use their local currency as their functional currency. Assets and liabilities are translated into U.S. Dollars at the exchange rate on the balance sheet date and revenue and expenses are translated at the average exchange rate for the period. The impact of the translation adjustments is reported as a component of accumulated other comprehensive income. Net foreign currency transaction gains (losses) recorded in results of operations were $2.7 million, $(2.7) million and $3.5 million in 2013, 2012 and 2011, respectively. | ||||||||||||
Share-Based Compensation, Policy | ' | |||||||||||
Share-Based Compensation. Share-based compensation, arising from awards of stock options and restricted stock, is measured at the grant date fair value. We use the Black-Scholes option valuation model to determine the fair value of stock option awards. The fair value of restricted stock awards is determined and fixed on the grant date using the closing price of our common stock. The fair value of the restricted stock awards is charged to additional paid-in capital and is amortized to expense over the restriction period. For awards that have a service only vesting condition, we recognize share-based compensation expense on a straight-line basis over the requisite service periods. For awards with a performance vesting condition, we recognize share-based compensation expense on a graded-vesting basis. See Note 10 for additional information regarding our specific award plans and estimates and assumptions used to determine the fair value of our share-based compensation awards. | ||||||||||||
Salary Continuation Agreements, Policy | ' | |||||||||||
Salary Continuation Agreements. Arrangements with certain present and former employees provide for continuing payments for periods up to ten years after cessation of full-time employment in consideration for agreement by the employees not to compete with us and to render consulting services during the postemployment period. Such payments which are subject to certain limitations, including our operating performance during the postemployment period, represent the fair value of the services rendered and are expensed in such periods. | ||||||||||||
Severance, Policy | ' | |||||||||||
Severance. The liability for one-time termination benefits, such as severance pay or benefit payouts, is measured and recognized at fair value in the period the liability was incurred. Subsequent changes to the liability are recognized in results of operations in the period of change. | ||||||||||||
Defined Benefit Pension Plans and Postemployment Arrangements, Policy | ' | |||||||||||
Defined Benefit Pension Plans and Postemployment Arrangements. The funded status of our defined benefit plans is recorded in our balance sheet. Funded status is measured as the difference between the fair value of plan assets and the benefit obligation at December 31, the measurement date. The benefit obligation for the defined benefit plans is the projected benefit obligation (“PBO”), which represents the actuarial present value of benefits expected to be paid upon retirement based on estimated future compensation levels. The fair value of plan assets represents the current market value. Overfunded plans where the fair value of plan assets exceeds the benefit obligation are aggregated and recorded as a prepaid pension asset equal to the excess. Underfunded plans where the benefit obligation exceeds the fair value of plan assets are aggregated and recorded as a liability equal to the excess. The liability for our postemployment arrangements is recorded in our balance sheet. The benefit obligation of our postemployment arrangements is the PBO and these arrangements are not funded. The current portion of the benefit obligation for our defined benefit plans and postemployment arrangements represents the actuarial present value of benefits payable in the next twelve months that exceed the fair value of plan assets. This current obligation is recorded in other current liabilities and the long-term portion is recorded in long-term liabilities in our balance sheet. | ||||||||||||
Deferred Compensation, Policy | ' | |||||||||||
Deferred Compensation. Some of our subsidiaries have individual deferred compensation arrangements with certain executives that provide for payments over varying terms upon retirement, cessation of employment or death. The cost of these arrangements is accrued during the employee’s service period. | ||||||||||||
Income Taxes, Policy | ' | |||||||||||
Income Taxes. We use the asset and liability method of accounting for income taxes. Under this method, income tax expense is recognized for the amount of taxes payable for the current period and deferred taxes recognized during the period. Deferred income taxes are recognized for the temporary difference between the financial reporting basis and tax basis of our assets and liabilities. Deferred income taxes are measured using the enacted tax rates that are assumed to be in effect when the differences reverse. Deferred tax assets result principally from recording certain expenses in the financial statements which are not currently deductible for tax purposes, such as share-based compensation expense, tax loss and credit carryforwards and differences between the tax basis and book basis of assets and liabilities recorded in connection with acquisitions. Deferred tax liabilities result principally from expenses arising from financial instruments which are currently deductible for tax purposes but have not been expensed in the financial statements, basis differences arising from deductible goodwill and intangible assets and tax rate differentials on unremitted foreign earnings. Valuation allowances are recorded where it is more likely than not that all or a portion of a deferred tax asset will not be realized. In assessing the need for a valuation allowance, we evaluate factors such as prior earnings history, expected future earnings, carry-back and carry-forward periods and tax strategies that could potentially enhance the likelihood of the realization of a deferred tax asset. | ||||||||||||
We have not provided U.S. federal and state income taxes on cumulative earnings of foreign subsidiaries that have been indefinitely reinvested. We have provided U.S. income taxes on earnings of foreign subsidiaries and affiliates that have not been indefinitely reinvested. Interest and penalties related to tax positions taken in our tax returns are recorded in income tax expense. | ||||||||||||
Net Income Per Common Share, Policy | ' | |||||||||||
Net Income Per Common Share. Net income per common share is based on the weighted average number of common shares outstanding during each period. Diluted net income per common share is based on the weighted average number of common shares outstanding, plus, if dilutive, common share equivalents, which include outstanding stock options, restricted stock and shares issuable for the conversion premium on our convertible debt. | ||||||||||||
Net income per common share is calculated using the two-class method, which is an earnings allocation method for computing net income per common share when a company's capital structure includes common stock and participating securities. The majority of our unvested restricted stock awards receive non-forfeitable dividends at the same rate as our common stock and therefore are considered participating securities. Under the two-class method, basic and diluted net income per common share is reduced for a presumed hypothetical distribution of earnings to holders of our unvested restricted stock. | ||||||||||||
Concentration of Credit Risk, Policy | ' | |||||||||||
Concentration of Credit Risk. We provide advertising, marketing and corporate communications services to several thousand clients who operate in nearly every industry sector of the global economy and we grant credit to qualified clients in the normal course of business. Due to the diversified nature of our client base, we do not believe that we are exposed to a concentration of credit risk as our largest client accounted for 2.7% of revenue in 2013 and no other client accounted for more than 2.5% of revenue. | ||||||||||||
Derivative Financial Instruments, Policy | ' | |||||||||||
Derivative Financial Instruments. All derivative instruments, including certain derivative instruments embedded in other contracts, are recorded in our balance sheet at fair value as either an asset or liability. Derivatives qualify for hedge accounting if: (1) the hedging instrument is designated as a hedge at inception, (2) the hedged exposure is specifically identifiable and exposes us to risk and (3) a change in fair value of the derivative financial instrument and an opposite change in the fair value of the hedged exposure will have a high degree of correlation. The method of assessing hedge effectiveness and measuring hedge ineffectiveness is formally documented at hedge inception. Hedge effectiveness is assessed and hedge ineffectiveness is measured at least quarterly throughout the designated hedge period. If the derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability or firm commitment through earnings or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of the change in fair value of a derivative used as hedge is recognized in results of operations. We do not use derivative financial instruments for trading or speculative purposes. | ||||||||||||
Fair Value, Policy | ' | |||||||||||
Fair Value. We apply the fair value measurement guidance of FASB ASC Topic 820, Fair Value Measurements and Disclosures, for our financial assets and liabilities that are required to be measured at fair value and for our nonfinancial assets and liabilities that are not required to be measured at fair value on a recurring basis, including goodwill and other identifiable intangible assets. The measurement of fair value requires the use of techniques based on observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. The inputs create the following fair value hierarchy: | ||||||||||||
• | Level 1 - Quoted prices for identical instruments in active markets. | |||||||||||
• | Level 2 - Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations where inputs are observable or where significant value drivers are observable. | |||||||||||
• | Level 3 - Instruments where significant value drivers are unobservable to third parties. | |||||||||||
When available, we use quoted market prices to determine the fair value of our financial instruments and classify such items in Level 1. In some cases, we use quoted market prices for similar instruments in active markets and model-derived valuations. These items are classified in Level 2. | ||||||||||||
In determining the fair value of financial instruments, we consider certain market valuation adjustments that market participants would consider in determining fair value, including: counterparty credit risk adjustments applied to financial instruments, taking into account the actual credit risk of the counterparty as observed in the credit default swap market and credit risk adjustments applied to reflect our own credit risk when valuing liabilities measured at fair value. | ||||||||||||
Reclassifications, Policy | ' | |||||||||||
Reclassifications. Certain reclassifications have been made to the prior year financial information to conform to the current year presentation. |
Leases_Policies
Leases (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Leases [Abstract] | ' |
Leases, Policy | ' |
We lease substantially all our office space under operating leases and certain equipment under operating and capital leases that expire at various dates. Office leases may provide for additional renewal periods at our option. In circumstances where the exercise of the renewal option is reasonably assured at the inception of the lease, the renewal period is included in the determination of the lease term. Additionally, office leases may include scheduled rent increases and concessions, such as rent abatements and landlord incentives and tenant improvement allowances. Scheduled rent increases are recognized on a straight-line basis over the lease term. Concessions are recorded as deferred rent and are amortized to rent expense on a straight-line basis over the lease term. Certain office leases require payment of real estate taxes and other occupancy costs. These costs are not included in rent expense. Leasehold improvements made at inception or during the lease term are amortized over the shorter of the asset life or the lease term, which may include renewal periods where the renewal is reasonably assured. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Significant Accounting Policies [Abstract] | ' | |||||||||||
Components of Operating Expenses | ' | |||||||||||
Operating expenses for the three years ended December 31, 2013 were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Salary and service costs | $ | 10,724.40 | $ | 10,406.80 | $ | 10,276.90 | ||||||
Office and general expenses | 1,993.40 | 2,008.40 | 1,924.50 | |||||||||
Merger expenses | 41.4 | — | — | |||||||||
Operating expenses | $ | 12,759.20 | $ | 12,415.20 | $ | 12,201.40 | ||||||
Net_Income_per_Common_Share_Ta
Net Income per Common Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Net Income per Common Share [Abstract] | ' | |||||||||||
Computations of Basic and Diluted Net Income per Common Share - Omnicom Group Inc. | ' | |||||||||||
The computations of basic and diluted net income per common share for the three years ended December 31, 2013 were (in millions, except per share amounts): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net Income Available for Common Shares: | ||||||||||||
Net income - Omnicom Group Inc. | $ | 991.1 | $ | 998.3 | $ | 952.6 | ||||||
Net income allocated to participating securities | (25.1 | ) | (22.5 | ) | (10.7 | ) | ||||||
$ | 966 | $ | 975.8 | $ | 941.9 | |||||||
Weighted Average Shares: | ||||||||||||
Basic | 258.9 | 268.3 | 279 | |||||||||
Dilutive stock options, restricted shares and shares issuable | 1.5 | 1.7 | 4.3 | |||||||||
for the conversion premium of convertible debt | ||||||||||||
Diluted | 260.4 | 270 | 283.3 | |||||||||
Anti-dilutive stock options and restricted shares | 0.7 | 0.3 | 1.7 | |||||||||
Net Income per Common Share - Omnicom Group Inc.: | ||||||||||||
Basic | $ | 3.73 | $ | 3.64 | $ | 3.38 | ||||||
Diluted | $ | 3.71 | $ | 3.61 | $ | 3.33 | ||||||
Goodwill_and_Intangible_Assets1
Goodwill and Intangible Assets (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | |||||||||||||||||||||||
Goodwill and Intangible Assets | ' | |||||||||||||||||||||||
Goodwill and intangible assets at December 31, 2013 and 2012 were (in millions): | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Gross | Accumulated | Net | Gross | Accumulated | Net | |||||||||||||||||||
Carrying | Amortization | Carrying | Carrying | Amortization | Carrying | |||||||||||||||||||
Value | Value | Value | Value | |||||||||||||||||||||
Goodwill | $ | 9,502.60 | $ | 586.6 | $ | 8,916.00 | $ | 9,424.30 | $ | 580.1 | $ | 8,844.20 | ||||||||||||
Intangible assets: | ||||||||||||||||||||||||
Purchased and internally developed software | $ | 283.2 | $ | 217.4 | $ | 65.8 | $ | 289.6 | $ | 222.1 | $ | 67.5 | ||||||||||||
Customer related and other | 655.1 | 334.9 | 320.2 | 664.5 | 275.9 | 388.6 | ||||||||||||||||||
$ | 938.3 | $ | 552.3 | $ | 386 | $ | 954.1 | $ | 498 | $ | 456.1 | |||||||||||||
Changes in Goodwill | ' | |||||||||||||||||||||||
Changes in goodwill for the years ended December 31, 2013 and 2012 were (in millions): | ||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||
Balance January 1 | $ | 8,844.20 | $ | 8,456.30 | ||||||||||||||||||||
Acquisitions | 69.9 | 301.1 | ||||||||||||||||||||||
Dispositions | (8.5 | ) | (2.7 | ) | ||||||||||||||||||||
Foreign currency translation | 10.4 | 89.5 | ||||||||||||||||||||||
Balance December 31 | $ | 8,916.00 | $ | 8,844.20 | ||||||||||||||||||||
Debt_Tables
Debt (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Available and Unused Lines of Credit | ' | |||||||||||
Available and unused lines of credit at December 31, 2013 and 2012 were (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Credit Agreement | $ | 2,500.00 | $ | 2,500.00 | ||||||||
Uncommitted lines of credit | 1,051.50 | 878.2 | ||||||||||
Available and unused lines of credit | $ | 3,551.50 | $ | 3,378.20 | ||||||||
Components of Interest Expense | ' | |||||||||||
The components of interest expense for the three years ended December 31, 2013 were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Long-term notes payable | $ | 174.7 | $ | 156.2 | $ | 125.8 | ||||||
Amortization of supplemental interest payments | 5.9 | 6.7 | 10 | |||||||||
Commercial paper | 1.7 | 1.3 | 2.5 | |||||||||
Fees | 6.5 | 6.2 | 7.1 | |||||||||
Other | 8.4 | 9.3 | 12.7 | |||||||||
$ | 197.2 | $ | 179.7 | $ | 158.1 | |||||||
Stated Maturities of Long-Term Notes Payable and Convertible Debt | ' | |||||||||||
The stated maturities of our long-term notes payable and convertible debt at December 31, 2013 are (in millions): | ||||||||||||
2014 | $ | 0.4 | ||||||||||
2015 | — | |||||||||||
2016 | 1,000.10 | |||||||||||
2017 | — | |||||||||||
2018 | — | |||||||||||
Thereafter | 3,002.70 | |||||||||||
$ | 4,003.20 | |||||||||||
Long-Term Notes Payable [Member] | ' | |||||||||||
Long-Term Debt | ' | |||||||||||
Long-term notes payable at December 31, 2013 and 2012 were (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
5.90% Senior Notes due April 15, 2016 | $ | 1,000.00 | $ | 1,000.00 | ||||||||
6.25% Senior Notes due July 15, 2019 | 500 | 500 | ||||||||||
4.45% Senior Notes due August 15, 2020 | 1,000.00 | 1,000.00 | ||||||||||
3.625% Senior Notes due May 1, 2022 | 1,250.00 | 1,250.00 | ||||||||||
Other notes and loans | 0.5 | 0.4 | ||||||||||
3,750.50 | 3,750.40 | |||||||||||
Unamortized premium (discount) on Senior Notes, net | 14.7 | 16 | ||||||||||
Deferred gain from termination of interest rate swaps on Senior Notes due 2016 | 15.9 | 23.1 | ||||||||||
3,781.10 | 3,789.50 | |||||||||||
Less current portion | 0.4 | 0.4 | ||||||||||
Long-term notes payable | $ | 3,780.70 | $ | 3,789.10 | ||||||||
Convertible Debt [Member] | ' | |||||||||||
Long-Term Debt | ' | |||||||||||
Convertible debt at December 31, 2013 and 2012 was (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Convertible Notes due July 31, 2032 | $ | 252.7 | $ | 252.7 | ||||||||
Convertible Notes due June 15, 2033 | — | 0.1 | ||||||||||
Convertible Notes due July 1, 2038 | — | 406.6 | ||||||||||
252.7 | 659.4 | |||||||||||
Less current portion | — | — | ||||||||||
Convertible debt | $ | 252.7 | $ | 659.4 | ||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||
Revenue and Long-Lived Assets and Goodwill by Geographic Region | ' | ||||||||||||
Revenue and long-lived assets and goodwill by geographic region as of and for the three years ended December 31, 2013 were (in millions): | |||||||||||||
Americas | EMEA | Asia Pacific | |||||||||||
2013 | |||||||||||||
Revenue | $ | 8,597.10 | $ | 4,407.40 | $ | 1,580.00 | |||||||
Long-lived assets and goodwill | 6,082.60 | 2,984.60 | 586.2 | ||||||||||
2012 | |||||||||||||
Revenue | $ | 8,375.80 | $ | 4,285.00 | $ | 1,558.60 | |||||||
Long-lived assets and goodwill | 6,066.30 | 2,875.20 | 626.5 | ||||||||||
2011 | |||||||||||||
Revenue | $ | 8,018.10 | $ | 4,491.00 | $ | 1,363.40 | |||||||
Long-lived assets and goodwill | 5,960.00 | 2,614.40 | 564.8 | ||||||||||
ShareBased_Compensation_Plans_
Share-Based Compensation Plans (Tables) | 12 Months Ended | ||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||
Share-Based Compensation Plans [Abstract] | ' | ||||||||||||||||||||
Stock Option Activity | ' | ||||||||||||||||||||
Stock option activity for the three years ended December 31, 2013 was: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Shares | Weighted | Shares | Weighted | Shares | Weighted | ||||||||||||||||
Average | Average | Average | |||||||||||||||||||
Exercise | Exercise | Exercise | |||||||||||||||||||
Price | Price | Price | |||||||||||||||||||
Balance January 1 | 5,590,880 | $25.72 | 18,301,409 | $26.22 | 24,513,590 | $26.64 | |||||||||||||||
Options granted | 60,000 | $70.68 | 60,000 | $49.65 | 90,000 | $45.05 | |||||||||||||||
Options exercised | (3,021,200 | ) | $26.01 | (12,673,529 | ) | $26.47 | (6,034,181 | ) | $28.17 | ||||||||||||
Options (forfeited) reinstated | 14,000 | $23.40 | (97,000 | ) | $35.98 | (268,000 | ) | $27.15 | |||||||||||||
Balance December 31 | 2,643,680 | $26.39 | 5,590,880 | $25.72 | 18,301,409 | $26.22 | |||||||||||||||
Exercisable December 31 | 2,505,680 | $24.67 | 5,333,880 | $24.89 | 9,672,909 | $27.85 | |||||||||||||||
Options Outstanding and Exercisable | ' | ||||||||||||||||||||
Options outstanding and exercisable at December 31, 2013 were: | |||||||||||||||||||||
Options Outstanding | Options Exercisable | ||||||||||||||||||||
Range of | Shares | Weighted Average | Weighted Average | Shares | Weighted Average | ||||||||||||||||
Exercise Prices | Remaining | Exercise Price | Exercise Price | ||||||||||||||||||
Contractual Life | |||||||||||||||||||||
$23.40 | to | $29.99 | 2,337,680 | 5.2 years | $23.60 | 2,337,680 | $23.60 | ||||||||||||||
$30.00 | to | $44.99 | 163,000 | 6.7 years | $38.78 | 139,000 | $37.97 | ||||||||||||||
$45.00 | to | $59.99 | 83,000 | 8.2 years | $48.64 | 29,000 | $47.37 | ||||||||||||||
$60.00 | to | $70.68 | 60,000 | 9.9 years | $70.68 | — | — | ||||||||||||||
2,643,680 | 2,505,680 | ||||||||||||||||||||
Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted | ' | ||||||||||||||||||||
The Black-Scholes assumptions (without adjusting for the risk of forfeiture and lack of liquidity) and the weighted average fair value per share for options granted were: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Expected option lives | 5 years | 5 years | 5 years | ||||||||||||||||||
Risk free interest rate | 1.40% | 0.80% | 0.9 | % | - | 1.80% | |||||||||||||||
Expected volatility | 26.00% | 29.50% | 27.2 | % | - | 29.20% | |||||||||||||||
Dividend yield | 2.00% | 3.10% | 2.3 | % | - | 2.80% | |||||||||||||||
Weighted average fair value per option granted | $14.50 | $10.42 | $9.57 | ||||||||||||||||||
Restricted Stock Activity | ' | ||||||||||||||||||||
Restricted stock activity for the three years ended December 31, 2013 was: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Balance January 1 | 7,241,490 | 6,038,978 | 3,026,086 | ||||||||||||||||||
Shares granted | 706,900 | 2,515,127 | 4,274,807 | ||||||||||||||||||
Shares vested | (1,490,786 | ) | (981,737 | ) | (1,096,441 | ) | |||||||||||||||
Shares forfeited | (366,907 | ) | (330,878 | ) | (165,474 | ) | |||||||||||||||
Balance December 31 | 6,090,697 | 7,241,490 | 6,038,978 | ||||||||||||||||||
Weighted average grant date fair value of shares granted in the period | $60.98 | $49.55 | $44.51 | ||||||||||||||||||
Weighted average grant date fair value at December 31 | $47.47 | $45.34 | $43.32 | ||||||||||||||||||
Performance Restricted Stock Units Activity | ' | ||||||||||||||||||||
PRSU activity of the three years ended December 31, 2013 was: | |||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||
Shares | Weighted Average Grant Date Fair Value | Shares | Weighted Average Grant Date Fair Value | Shares | Weighted Average Grant Date Fair Value | ||||||||||||||||
Balance January 1 | 538,948 | $ | 48.74 | 413,909 | $ | 48.56 | — | — | |||||||||||||
Granted | 183,998 | 57.77 | 166,426 | 49.13 | 413,909 | $ | 48.56 | ||||||||||||||
Distributed | (41,391 | ) | 48.56 | (41,387 | ) | 48.56 | — | — | |||||||||||||
Forfeited | — | — | — | — | — | — | |||||||||||||||
Balance December 31 | 681,555 | $ | 51.19 | 538,948 | $ | 48.74 | 413,909 | $ | 48.56 | ||||||||||||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Taxes [Abstract] | ' | |||||||||||
Income Before Income Taxes | ' | |||||||||||
Income before income taxes for the three years ended December 31, 2013 was (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Domestic | $ | 629.4 | $ | 683.5 | $ | 581 | ||||||
International | 1,031.50 | 976.1 | 968 | |||||||||
$ | 1,660.90 | $ | 1,659.60 | $ | 1,549.00 | |||||||
Income Tax Expense | ' | |||||||||||
Income tax expense (benefit) for the three years ended December 31, 2013 was (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | 246.3 | $ | 163.3 | $ | 158.6 | ||||||
State and local | 30.6 | 40.1 | 14.4 | |||||||||
International | 336.5 | 298.3 | 239.5 | |||||||||
613.4 | 501.7 | 412.5 | ||||||||||
Deferred: | ||||||||||||
Federal | 0.3 | 41.7 | 83.6 | |||||||||
State and local | (3.6 | ) | 4.7 | 4.9 | ||||||||
International | (44.9 | ) | (21.0 | ) | 4.8 | |||||||
(48.2 | ) | 25.4 | 93.3 | |||||||||
$ | 565.2 | $ | 527.1 | $ | 505.8 | |||||||
Reconciliation from the Statutory U.S. Federal Income Tax Rate to Effective Tax Rate | ' | |||||||||||
The reconciliation from the statutory U.S. federal income tax rate to our effective tax rate is: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory U.S. federal income tax rate | 35 | % | 35 | % | 35 | % | ||||||
State and local income taxes, net of federal income tax benefit | 1 | 1.7 | 0.8 | |||||||||
Reduction of tax on unremitted foreign earnings due to | — | (1.3 | ) | — | ||||||||
legal reorganization | ||||||||||||
Remeasurement gain Clemenger Group, tax rate differential | — | — | (2.6 | ) | ||||||||
International tax rate differentials | (3.0 | ) | (3.3 | ) | (1.4 | ) | ||||||
Other | 1 | (0.3 | ) | 0.9 | ||||||||
Effective tax rate | 34 | % | 31.8 | % | 32.7 | % | ||||||
Components of Deferred Tax Assets and Liabilities | ' | |||||||||||
The components of deferred tax assets and liabilities at December 31, 2013 and 2012 were (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Deferred tax assets: | ||||||||||||
Compensation and severance | $ | 269.8 | $ | 283 | ||||||||
Tax loss and credit carryforwards | 149.1 | 176.1 | ||||||||||
Basis differences from acquisitions | 28.7 | 20.7 | ||||||||||
Basis differences from short-term assets and liabilities | 28.2 | 31.8 | ||||||||||
Other | 53.2 | 44.2 | ||||||||||
Deferred tax assets | 529 | 555.8 | ||||||||||
Valuation allowance | (56.8 | ) | (47.8 | ) | ||||||||
Net deferred tax assets | $ | 472.2 | $ | 508 | ||||||||
Deferred tax liabilities: | ||||||||||||
Goodwill and intangible assets | $ | 673.3 | $ | 635.2 | ||||||||
Financial instruments | 421.8 | 508.7 | ||||||||||
Unremitted foreign earnings | 114.5 | 124.7 | ||||||||||
Basis differences from investments | (5.7 | ) | 12.2 | |||||||||
Deferred tax liabilities | $ | 1,203.90 | $ | 1,280.80 | ||||||||
Net deferred tax assets (liabilities) | $ | (731.7 | ) | $ | (772.8 | ) | ||||||
Net Deferred Tax Assets and (Liabilities) as Classified in the Balance Sheet | ' | |||||||||||
Our net deferred tax assets and liabilities at December 31, 2013 and 2012, were classified as follows (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Other current assets - Deferred taxes | $ | 100.9 | $ | 160.2 | ||||||||
Long-term deferred tax liabilities | (832.6 | ) | (933.0 | ) | ||||||||
$ | (731.7 | ) | $ | (772.8 | ) | |||||||
Reconciliation of Unrecognized Tax Benefits | ' | |||||||||||
A reconciliation of our unrecognized tax benefits at December 31, 2013 and 2012 is (in millions): | ||||||||||||
2013 | 2012 | |||||||||||
Balance January 1 | $ | 188.6 | $ | 157.8 | ||||||||
Additions: | ||||||||||||
Current year tax positions | 5.1 | 17.1 | ||||||||||
Prior year tax positions | 0.4 | 27.3 | ||||||||||
Reduction of prior year tax positions | (31.4 | ) | (7.9 | ) | ||||||||
Settlements | (24.6 | ) | (0.2 | ) | ||||||||
Lapse of statute of limitations | (0.2 | ) | (6.0 | ) | ||||||||
Foreign currency translation | (0.1 | ) | 0.5 | |||||||||
Balance December 31 | $ | 137.8 | $ | 188.6 | ||||||||
Pension_and_Other_Postemployme1
Pension and Other Postemployment Benefits (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Defined Benefit Pension Plans [Member] | ' | |||||||||||||||
Components of Net Periodic Benefit Cost | ' | |||||||||||||||
The components of net periodic benefit cost for the three years ended December 31, 2013 were (in millions): | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 4.6 | $ | 6.6 | $ | 5.8 | ||||||||||
Interest cost | 7.3 | 7.6 | 6.5 | |||||||||||||
Expected return on plan assets | (3.7 | ) | (3.5 | ) | (3.5 | ) | ||||||||||
Amortization of prior service cost | 3.6 | 3.1 | 3.1 | |||||||||||||
Amortization of actuarial (gains) losses | 3.5 | 1 | 0.3 | |||||||||||||
$ | 15.3 | $ | 14.8 | $ | 12.2 | |||||||||||
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost | ' | |||||||||||||||
The weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, 2013 were: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Discount rate | 3.9 | % | 4.6 | % | 5.1 | % | ||||||||||
Compensation increases | 1.6 | % | 1.8 | % | 1.6 | % | ||||||||||
Expected return on plan assets | 5.3 | % | 6 | % | 6.2 | % | ||||||||||
Benefit Obligation, Fair Value of Plan Assets and Funded Status of Defined Benefit Pension Plans | ' | |||||||||||||||
At December 31, 2013 and 2012, the benefit obligation, fair value of plan assets and the funded status of our defined benefit pension plans were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Benefit Obligation | ||||||||||||||||
Benefit obligation January 1 | $ | 188.4 | $ | 146.3 | ||||||||||||
Service cost | 4.6 | 6.6 | ||||||||||||||
Interest cost | 7.3 | 7.6 | ||||||||||||||
Amendments, curtailments and settlements | 7.6 | — | ||||||||||||||
Actuarial (gains) losses | (18.0 | ) | 30.5 | |||||||||||||
Benefits paid | (5.1 | ) | (4.7 | ) | ||||||||||||
Foreign currency translation and other | 0.9 | 2.1 | ||||||||||||||
Benefit obligation December 31 | $ | 185.7 | $ | 188.4 | ||||||||||||
Fair Value of Plan Assets | ||||||||||||||||
Fair value of assets January 1 | $ | 62.7 | $ | 50.5 | ||||||||||||
Actual return on plan assets | 8.1 | 6.5 | ||||||||||||||
Employer contributions | 5.5 | 9.1 | ||||||||||||||
Benefits paid | (5.1 | ) | (4.7 | ) | ||||||||||||
Foreign currency translation and other | 1 | 1.3 | ||||||||||||||
Fair value of plan assets December 31 | $ | 72.2 | $ | 62.7 | ||||||||||||
Funded Status December 31 | $ | (113.5 | ) | $ | (125.7 | ) | ||||||||||
Amounts Recorded in Balance Sheet | ' | |||||||||||||||
At December 31, 2013 and 2012 the funded status was classified as follows (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Other assets | $ | 5.6 | $ | 3.5 | ||||||||||||
Other current liabilities | (1.1 | ) | (1.4 | ) | ||||||||||||
Long-term liabilities | (118.0 | ) | (127.8 | ) | ||||||||||||
$ | (113.5 | ) | $ | (125.7 | ) | |||||||||||
Plans with Benefit Obligations in Excess of Plan Assets | ' | |||||||||||||||
At December 31, 2013 and 2012, plans with benefit obligations in excess of plan assets were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Benefit obligation | $ | 143.1 | $ | 168.8 | ||||||||||||
Plan assets | 24 | 39.6 | ||||||||||||||
$ | 119.1 | $ | 129.2 | |||||||||||||
Weighted Average Assumptions Used to Determine Benefit Obligation | ' | |||||||||||||||
The weighted average assumptions used to determine the benefit obligation at December 31, 2013 and 2012, were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Discount rate | 4.4 | % | 3.7 | % | ||||||||||||
Compensation increases | 1.6 | % | 1.7 | % | ||||||||||||
Estimated Future Benefit Payments | ' | |||||||||||||||
At December 31, 2013, the estimated benefits expected to be paid over the next 10 years are (in millions): | ||||||||||||||||
2014 | $ | 4.6 | ||||||||||||||
2015 | 6.6 | |||||||||||||||
2016 | 6.5 | |||||||||||||||
2017 | 6.6 | |||||||||||||||
2018 | 7.7 | |||||||||||||||
2019 - 2023 | 61.9 | |||||||||||||||
Fair Value of Plan Assets | ' | |||||||||||||||
The fair value of plan assets at December 31, 2013 and 2012 was (in millions): | ||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | |||||||||||||
2013 | ||||||||||||||||
Cash | $ | 2.1 | $ | 2.1 | ||||||||||||
Mutual funds | 42.5 | 42.5 | ||||||||||||||
Unit trusts | 23.3 | 23.3 | ||||||||||||||
Insurance contracts | $ | 3.4 | 3.4 | |||||||||||||
Other | $ | 0.9 | 0.9 | |||||||||||||
$ | 67.9 | $ | 0.9 | $ | 3.4 | $ | 72.2 | |||||||||
2012 | ||||||||||||||||
Cash | $ | 2.3 | $ | 2.3 | ||||||||||||
Mutual funds | 36.8 | 36.8 | ||||||||||||||
Unit trusts | 20.6 | 20.6 | ||||||||||||||
Insurance contracts | $ | 2.9 | 2.9 | |||||||||||||
Other | $ | 0.1 | 0.1 | |||||||||||||
$ | 59.7 | $ | 0.1 | $ | 2.9 | $ | 62.7 | |||||||||
Changes in Fair Value of Plan Assets Measured Using Level 3 Inputs | ' | |||||||||||||||
Changes in the fair value of plan assets measured using Level 3 inputs at December 31, 2013 and 2012, were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Balance January 1 | $ | 2.9 | $ | 1.7 | ||||||||||||
Actual return on assets | 0.1 | 0.1 | ||||||||||||||
Purchases, sales and settlements, net | 0.4 | 1.1 | ||||||||||||||
Balance December 31 | $ | 3.4 | $ | 2.9 | ||||||||||||
Weighted Average Plan Asset Allocations | ' | |||||||||||||||
The weighted average asset allocations at December 31, 2013 and 2012 were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Target | Actual | Actual | ||||||||||||||
Allocation | Allocation | Allocation | ||||||||||||||
Cash | 2 | % | 3 | % | 3 | % | ||||||||||
Mutual funds | 57 | % | 59 | % | 59 | % | ||||||||||
Unit trusts | 34 | % | 32 | % | 33 | % | ||||||||||
Insurance contracts | 5 | % | 5 | % | 5 | % | ||||||||||
Other | 2 | % | 1 | % | — | % | ||||||||||
100 | % | 100 | % | 100 | % | |||||||||||
Postemployment Arrangements [Member] | ' | |||||||||||||||
Components of Net Periodic Benefit Cost | ' | |||||||||||||||
The components of net periodic benefit cost for the three years ended December 31, 2013 were (in millions): | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Service cost | $ | 4.1 | $ | 4.1 | $ | 3.9 | ||||||||||
Interest cost | 4.3 | 4.7 | 4.7 | |||||||||||||
Amortization of prior service cost | 1.9 | 0.7 | 0.6 | |||||||||||||
Amortization of actuarial (gains) losses | 1.5 | 2 | 2.1 | |||||||||||||
$ | 11.8 | $ | 11.5 | $ | 11.3 | |||||||||||
Weighted Average Assumptions Used to Determine Net Periodic Benefit Cost | ' | |||||||||||||||
The weighted average assumptions used to determine net periodic benefit cost for the three years ended December 31, 2013 were: | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Discount rate | 4.1 | % | 4.9 | % | 5 | % | ||||||||||
Compensation increases | 3.5 | % | 3.5 | % | 3.5 | % | ||||||||||
Benefit Obligation | ' | |||||||||||||||
At December 31, 2013 and 2012, the benefit obligation was (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Benefit obligation January 1 | $ | 118.7 | $ | 105.2 | ||||||||||||
Service cost | 4.1 | 4.1 | ||||||||||||||
Interest cost | 4.3 | 4.7 | ||||||||||||||
Plan Amendments | 2.8 | — | ||||||||||||||
Actuarial (gains) losses | (12.3 | ) | 15 | |||||||||||||
Benefits paid | (13.4 | ) | (10.3 | ) | ||||||||||||
Benefit obligation December 31 | $ | 104.2 | $ | 118.7 | ||||||||||||
Amounts Recorded in Balance Sheet | ' | |||||||||||||||
At December 31, 2013 and 2012, the liability was classified as follows (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Other current liabilities | $ | 9.3 | $ | 9.9 | ||||||||||||
Long-term liabilities | 94.9 | 108.8 | ||||||||||||||
$ | 104.2 | $ | 118.7 | |||||||||||||
Weighted Average Assumptions Used to Determine Benefit Obligation | ' | |||||||||||||||
The weighted average assumptions used to determine the benefit obligation at December 31, 2013 and 2012, were: | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Discount rate | 4.7 | % | 3.7 | % | ||||||||||||
Compensation increases | 3.5 | % | 3.5 | % | ||||||||||||
Estimated Future Benefit Payments | ' | |||||||||||||||
At December 31, 2013, the estimated benefits expected to be paid over the next 10 years are (in millions): | ||||||||||||||||
2014 | $ | 9.3 | ||||||||||||||
2015 | 9 | |||||||||||||||
2016 | 9 | |||||||||||||||
2017 | 7.3 | |||||||||||||||
2018 | 6.8 | |||||||||||||||
2019 - 2023 | 25.6 | |||||||||||||||
Supplemental_Cash_Flow_Data_Ta
Supplemental Cash Flow Data (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Data [Abstract] | ' | |||||||||||
Change in Operating Capital | ' | |||||||||||
The change in operating capital for the three years ended December 31, 2013 was (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
(Increase) decrease in accounts receivable | $ | 244.8 | $ | (218.7 | ) | $ | (471.4 | ) | ||||
(Increase) decrease in work in process and other current assets | (354.5 | ) | 4.8 | (53.2 | ) | |||||||
Increase (decrease) in accounts payable | 143.5 | 127.8 | 262.7 | |||||||||
Increase (decrease) in customer advances and other current liabilities | 252.6 | (151.8 | ) | (4.5 | ) | |||||||
Change in other assets and liabilities, net | 64.9 | 263.1 | 295.6 | |||||||||
$ | 351.3 | $ | 25.2 | $ | 29.2 | |||||||
Income taxes paid | $ | 472.4 | $ | 321.1 | $ | 365.4 | ||||||
Interest paid | $ | 192.8 | $ | 165.5 | $ | 153.9 | ||||||
Noncontrolling_Interests_Table
Noncontrolling Interests (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Noncontrolling Interests [Abstract] | ' | |||||||||||
Changes in Ownership Interests in Less than 100% Owned Subsidiaries | ' | |||||||||||
Changes in our ownership interests in our less than 100% owned subsidiaries during the three years ended December 31, 2013, were (in millions): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Net income attributed to Omnicom Group Inc. | $ | 991.1 | $ | 998.3 | $ | 952.6 | ||||||
Transfers (to) from noncontrolling interests: | ||||||||||||
Increase in additional paid-in capital from sale of shares in noncontrolling interests | 5.2 | 2.6 | 4.8 | |||||||||
Decrease in additional paid-in capital from purchase of shares in noncontrolling interests | (22.0 | ) | (30.7 | ) | (37.6 | ) | ||||||
Net transfers (to) from noncontrolling interests | (16.8 | ) | (28.1 | ) | (32.8 | ) | ||||||
Changes in net income attributed to Omnicom Group Inc. and | $ | 974.3 | $ | 970.2 | $ | 919.8 | ||||||
transfers (to) from noncontrolling interests | ||||||||||||
Leases_Tables
Leases (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Leases [Abstract] | ' | |||||||||||||||
Rent Expense | ' | |||||||||||||||
Rent expense for the three years ended December 31, 2013, was (in millions): | ||||||||||||||||
2013 | 2012 | 2011 | ||||||||||||||
Office base rent | $ | 379.9 | $ | 390.5 | $ | 381.6 | ||||||||||
Less third party sublease rent | 10.6 | 10.4 | 12.8 | |||||||||||||
Net office rent | 369.3 | 380.1 | 368.8 | |||||||||||||
Equipment rent | 33.1 | 36.3 | 42.7 | |||||||||||||
$ | 402.4 | $ | 416.4 | $ | 411.5 | |||||||||||
Future Minimum Lease Payments Under Non-Cancelable Operating and Capital Leases | ' | |||||||||||||||
Future minimum lease payments under non-cancelable operating and capital leases, reduced by third party sublease rent receivable from existing non-cancelable subleases, are (in millions): | ||||||||||||||||
Operating Leases | Capital Leases | |||||||||||||||
Gross | Less | Net | Minimum | |||||||||||||
Rent | Sublease Rent | Rent | Lease Payments | |||||||||||||
2014 | $ | 380.4 | $ | 8.6 | $ | 371.8 | $ | 22.8 | ||||||||
2015 | 268.7 | 4 | 264.7 | 15.7 | ||||||||||||
2016 | 195.3 | 1.6 | 193.7 | 8.6 | ||||||||||||
2017 | 139.1 | 1.5 | 137.6 | 4.6 | ||||||||||||
2018 | 111.2 | 0.4 | 110.8 | 3.3 | ||||||||||||
Thereafter | 302.9 | — | 302.9 | 2.4 | ||||||||||||
$ | 1,397.60 | $ | 16.1 | $ | 1,381.50 | |||||||||||
Total minimum lease payments | 57.4 | |||||||||||||||
Less interest component | 2 | |||||||||||||||
Present value of minimum lease payments | $ | 55.4 | ||||||||||||||
Property Under Capital Lease and Capital Lease Obligations | ' | |||||||||||||||
Property under capital lease and capital lease obligations as of December 31, 2013 and 2012 were (in millions): | ||||||||||||||||
2013 | 2012 | |||||||||||||||
Property under capital lease: | ||||||||||||||||
Cost | $ | 134 | $ | 126.3 | ||||||||||||
Accumulated depreciation | (80.5 | ) | (71.3 | ) | ||||||||||||
$ | 53.5 | $ | 55 | |||||||||||||
Capital lease obligations: | ||||||||||||||||
Current | $ | 22.2 | $ | 23.4 | ||||||||||||
Long-term | 33.2 | 33.9 | ||||||||||||||
$ | 55.4 | $ | 57.3 | |||||||||||||
Fair_Value_Tables
Fair Value (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value [Abstract] | ' | ||||||||||||||||
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis | ' | ||||||||||||||||
Financial assets and liabilities measured at fair value on a recurring basis at December 31, 2013 and 2012 were (in millions): | |||||||||||||||||
2013 | Level 1 | Level 2 | Level 3 | Total | |||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 2,710.50 | $ | 2,710.50 | |||||||||||||
Short-term investments | 18.2 | 18.2 | |||||||||||||||
Available-for-sale securities | 4.9 | 4.9 | |||||||||||||||
Forward foreign exchange contracts | $ | 2.2 | 2.2 | ||||||||||||||
Liabilities: | |||||||||||||||||
Forward foreign exchange contracts | $ | 0.1 | $ | 0.1 | |||||||||||||
Contingent interest derivative | 2.1 | 2.1 | |||||||||||||||
Contingent purchase price obligations | $ | 220.2 | 220.2 | ||||||||||||||
2012 | |||||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 2,678.30 | $ | 2,678.30 | |||||||||||||
Short-term investments | 20.6 | 20.6 | |||||||||||||||
Available-for-sale securities | 3.9 | 3.9 | |||||||||||||||
Forward foreign exchange contracts | $ | 0.5 | 0.5 | ||||||||||||||
Liabilities: | |||||||||||||||||
Contingent purchase price obligations | $ | 266.2 | $ | 266.2 | |||||||||||||
Changes in Level 3 Contingent Purchase Price Obligations | ' | ||||||||||||||||
The changes in Level 3 contingent purchase price obligations for the years ended December 31, 2013 and 2012 were (in millions): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance January 1 | $ | 266.2 | $ | 142.6 | |||||||||||||
Acquisitions | 35.8 | 165.2 | |||||||||||||||
Revaluation and interest | (10.9 | ) | (13.2 | ) | |||||||||||||
Payments | (70.5 | ) | (32.2 | ) | |||||||||||||
Foreign currency translation | (0.4 | ) | 3.8 | ||||||||||||||
Balance December 31 | $ | 220.2 | $ | 266.2 | |||||||||||||
Carrying Amounts and Fair Value of Financial Instruments | ' | ||||||||||||||||
The carrying amount and fair value of our financial instruments at December 31, 2013 and 2012 were (in millions): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Carrying | Fair | Carrying | Fair | ||||||||||||||
Amount | Value | Amount | Value | ||||||||||||||
Assets: | |||||||||||||||||
Cash and cash equivalents | $ | 2,710.50 | $ | 2,710.50 | $ | 2,678.30 | $ | 2,678.30 | |||||||||
Short-term investments | 18.2 | 18.2 | 20.6 | 20.6 | |||||||||||||
Forward foreign exchange contracts | 2.2 | 2.2 | 0.5 | 0.5 | |||||||||||||
Available-for-sale securities | 4.9 | 4.9 | 3.9 | 3.9 | |||||||||||||
Cost method investments | 22.2 | 22.2 | 23.1 | 23.1 | |||||||||||||
Liabilities: | |||||||||||||||||
Short-term borrowings | $ | 5.9 | $ | 5.9 | $ | 6.4 | $ | 6.4 | |||||||||
Forward foreign exchange contracts | 0.1 | 0.1 | — | — | |||||||||||||
Contingent interest derivative | 2.1 | 2.1 | — | — | |||||||||||||
Contingent purchase price obligations | 220.2 | 220.2 | 266.2 | 266.2 | |||||||||||||
Debt | 4,033.80 | 4,302.70 | 4,448.90 | 4,857.30 | |||||||||||||
Changes_in_Accumulated_Other_C1
Changes in Accumulated Other Comprehensive Income (Loss) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Changes in Accumulated Other Comprehensive Income (Loss) [Abstract] | ' | |||||||||||||||
Changes in accumulated other comprehensive income (loss) | ' | |||||||||||||||
The changes in accumulated other comprehensive income (loss) for the year ended December 31, 2013 were (in millions): | ||||||||||||||||
Unrealized | Defined Benefit Pension and Postemployment Plans | Foreign Currency Translation | Total | |||||||||||||
Gain (Loss) on Available-for-Sale Securities | ||||||||||||||||
Balance January 1 | $ | (2.0 | ) | $ | (89.8 | ) | $ | (37.7 | ) | $ | (129.5 | ) | ||||
Other comprehensive income (loss) before reclassifications | 0.4 | — | (83.5 | ) | (83.1 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive income (loss) | — | 21 | — | 21 | ||||||||||||
Other comprehensive income (loss) | 0.4 | 21 | (83.5 | ) | (62.1 | ) | ||||||||||
Balance December 31 | $ | (1.6 | ) | $ | (68.8 | ) | $ | (121.2 | ) | $ | (191.6 | ) | ||||
Reclassifications from accumulated other comprehensive income (loss) | ' | |||||||||||||||
Reclassifications from accumulated other comprehensive income (loss) for the year ended December 31, 2013 were (in millions): | ||||||||||||||||
Amortization of defined benefit pension and postemployment plans: | ||||||||||||||||
Prior service cost | $ | 5.5 | ||||||||||||||
Actuarial (gains) losses | 5 | |||||||||||||||
Net periodic benefit cost (see Note 12) | 10.5 | |||||||||||||||
Income tax expense | 4.2 | |||||||||||||||
Net of tax | $ | 6.3 | ||||||||||||||
Quarterly_Results_of_Operation1
Quarterly Results of Operations (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Quarterly Results of Operations (Unaudited) [Abstract] | ' | |||||||||||||||
Quarterly Results of Operations (Unaudited) | ' | |||||||||||||||
The Company’s unaudited quarterly results of operations for the years ended December 31, 2013 and 2012 were: | ||||||||||||||||
Quarter | ||||||||||||||||
First | Second | Third | Fourth | |||||||||||||
Revenue | ||||||||||||||||
2013 | $ | 3,398.90 | $ | 3,637.00 | $ | 3,490.50 | $ | 4,058.10 | ||||||||
2012 | 3,307.30 | 3,561.00 | 3,406.60 | 3,944.50 | ||||||||||||
Operating Expenses (a) | ||||||||||||||||
2013 | 3,027.20 | 3,114.00 | 3,111.10 | 3,506.90 | ||||||||||||
2012 | 2,944.80 | 3,054.60 | 3,019.30 | 3,396.50 | ||||||||||||
Operating Income | ||||||||||||||||
2013 | 371.7 | 523 | 379.4 | 551.2 | ||||||||||||
2012 | 362.5 | 506.4 | 387.3 | 548 | ||||||||||||
Net Income - Omnicom Group Inc. | ||||||||||||||||
2013 | 205.1 | 289.5 | 196 | 300.5 | ||||||||||||
2012 | 204.6 | 282.7 | 203.9 | 307.1 | ||||||||||||
Net Income Per Share Omnicom Group Inc. - Basic | ||||||||||||||||
2013 | 0.76 | 1.09 | 0.74 | 1.14 | ||||||||||||
2012 | 0.73 | 1.03 | 0.75 | 1.13 | ||||||||||||
Net Income Per Share Omnicom Group Inc. - Diluted | ||||||||||||||||
2013 | 0.76 | 1.09 | 0.74 | 1.13 | ||||||||||||
2012 | 0.72 | 1.02 | 0.74 | 1.13 | ||||||||||||
__________ | ||||||||||||||||
(a) Operating Expenses for the third and fourth quarters of 2013 include expenses we incurred in connection with the proposed merger with Publicis, which are primarily comprised of professional fees of $28.1 million ($21.7 million net of income taxes) and $13.3 million ($13.2 million net of income taxes), respectively. |
SCHEDULE_II_VALUATION_AND_QUAL1
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Schedule II [Abstract] | ' | |||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | ' | |||||||||||||||||||
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS | ||||||||||||||||||||
For the Three Years Ended December 31, 2013 | ||||||||||||||||||||
(In millions) | ||||||||||||||||||||
Description | Balance at | Charged | Removal of | Translation | Balance at | |||||||||||||||
Beginning | to Costs | Uncollectible | Adjustments | End of | ||||||||||||||||
of Period | and Expenses | Receivables | (Increase) Decrease | Period | ||||||||||||||||
Valuation accounts deducted from assets: | ||||||||||||||||||||
Allowance for Doubtful Accounts: | ||||||||||||||||||||
December 31, 2013 | $ | 35.9 | $ | 9.7 | $ | 12.8 | $ | 0.2 | $ | 32.6 | ||||||||||
December 31, 2012 | 40.6 | 11.4 | 16.5 | (0.4 | ) | 35.9 | ||||||||||||||
December 31, 2011 | 46.7 | 8.1 | 13.2 | 1 | 40.6 | |||||||||||||||
Pending_Business_Combination_D
Pending Business Combination (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | |
Publicis Merger [Member] | Omnicom Merger [Member] | ||
EUR (€) | USD ($) | ||
Date of Business Combination Agreement | 27-Jul-13 | ' | ' |
Number of Shares of Combined Entity to be Exchanged Per Share of Merging Entity | ' | 1 | 0.813008 |
Business Combination Agreement, Transaction Dividend to be Declared | ' | € 1 | $2 |
Business Combination Agreement, Maximum Dividends to be Excluded from Equalization | ' | ' | $0.80 |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Salary and service costs | ' | ' | ' | ' | ' | ' | ' | ' | $10,724.40 | $10,406.80 | $10,276.90 |
Office and general expenses | ' | ' | ' | ' | ' | ' | ' | ' | 1,993.40 | 2,008.40 | 1,924.50 |
Merger expenses | ' | ' | ' | ' | ' | ' | ' | ' | 41.4 | 0 | 0 |
Operating expenses | 3,506.90 | 3,111.10 | 3,114 | 3,027.20 | 3,396.50 | 3,019.30 | 3,054.60 | 2,944.80 | 12,759.20 | 12,415.20 | 12,201.40 |
Available-for-sale securities | 4.9 | ' | ' | ' | 3.9 | ' | ' | ' | 4.9 | 3.9 | ' |
Cost method investments | 22.2 | ' | ' | ' | 23.1 | ' | ' | ' | 22.2 | 23.1 | ' |
Net foreign currency transaction gains (losses) | ' | ' | ' | ' | ' | ' | ' | ' | $2.70 | ($2.70) | $3.50 |
Percentage of revenue from largest client | ' | ' | ' | ' | ' | ' | ' | ' | 2.70% | ' | ' |
Percentage of revenue from any client other than largest, maximum | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable intangible assets, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Identifiable intangible assets, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' |
Furniture [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and Equipment, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' |
Furniture [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and Equipment, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' |
Equipment [Member] | Minimum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and Equipment, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '3 years | ' | ' |
Equipment [Member] | Maximum [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Property and Equipment, useful life | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Net_Income_per_Common_Share_De
Net Income per Common Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Net Income Available for Common Shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income - Omnicom Group Inc. | $300.50 | $196 | $289.50 | $205.10 | $307.10 | $203.90 | $282.70 | $204.60 | $991.10 | $998.30 | $952.60 |
Net income allocated to participating securities | ' | ' | ' | ' | ' | ' | ' | ' | -25.1 | -22.5 | -10.7 |
Net income available for common shares | ' | ' | ' | ' | ' | ' | ' | ' | $966 | $975.80 | $941.90 |
Weighted Average Shares: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | ' | ' | ' | ' | ' | ' | ' | ' | 258.9 | 268.3 | 279 |
Dilutive stock options, restricted shares and shares issuable for the conversion premium of convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | 1.5 | 1.7 | 4.3 |
Diluted | ' | ' | ' | ' | ' | ' | ' | ' | 260.4 | 270 | 283.3 |
Anti-dilutive stock options and restricted shares | ' | ' | ' | ' | ' | ' | ' | ' | 0.7 | 0.3 | 1.7 |
Net Income per Common Share - Omnicom Group Inc.: | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basic | $1.14 | $0.74 | $1.09 | $0.76 | $1.13 | $0.75 | $1.03 | $0.73 | $3.73 | $3.64 | $3.38 |
Diluted | $1.13 | $0.74 | $1.09 | $0.76 | $1.13 | $0.74 | $1.02 | $0.72 | $3.71 | $3.61 | $3.33 |
Business_Combinations_Details
Business Combinations (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Acquisitions of new subsidiaries | 8 | ' |
Goodwill, Acquisitions | $69.90 | $301.10 |
Accrued contingent purchase price payments included in goodwill | 14.5 | ' |
Goodwill recorded in acquisitions expected to be deductible for income tax purposes | 38.1 | ' |
Liability for contingent purchase price obligations | 220.2 | 266.2 |
Liability for contingent purchase price obligations, current | $74.50 | $83.20 |
Goodwill_and_Intangible_Assets2
Goodwill and Intangible Assets (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Goodwill, Gross Carrying Value | $9,502.60 | $9,424.30 |
Goodwill, Accumulated Amortization | 586.6 | 580.1 |
Goodwill, Net Carrying Value | 8,916 | 8,844.20 |
Intangible assets:, Gross Carrying Value | 938.3 | 954.1 |
Intangible assets:, Accumulated Amortization | 552.3 | 498 |
Intangible assets:, Net Carrying Value | 386 | 456.1 |
Goodwill [Roll Forward] | ' | ' |
Goodwill, Balance January 1 | 8,844.20 | 8,456.30 |
Goodwill, Acquisitions | 69.9 | 301.1 |
Goodwill, Dispositions | -8.5 | -2.7 |
Goodwill, Foreign currency translation | 10.4 | 89.5 |
Goodwill, Balance December 31 | 8,916 | 8,844.20 |
Goodwill, impairment losses | 0 | ' |
Goodwill, accumulated impairment losses | 0 | ' |
Goodwill, acquisitions of noncontrolling interests | 12.2 | 25.6 |
Purchased and internally developed software | ' | ' |
Intangible assets:, Gross Carrying Value | 283.2 | 289.6 |
Intangible assets:, Accumulated Amortization | 217.4 | 222.1 |
Intangible assets:, Net Carrying Value | 65.8 | 67.5 |
Customer related and other | ' | ' |
Intangible assets:, Gross Carrying Value | 655.1 | 664.5 |
Intangible assets:, Accumulated Amortization | 334.9 | 275.9 |
Intangible assets:, Net Carrying Value | $320.20 | $388.60 |
Debt_Details
Debt (Details) (USD $) | 3 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 24 Months Ended | 3 Months Ended | 12 Months Ended | 142 Months Ended | 3 Months Ended | |||||||||||||||||||||||||||||
Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2004 | Aug. 18, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2002 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2004 | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2004 | |
Interest Rate Swaps on 2016 Notes [Member] | Credit Agreement expiring October 2016 [Member] | Credit Agreement expiring October 2016 [Member] | Credit Agreement expiring October 2016 [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Commercial Paper [Member] | Uncommitted lines of credit [Member] | Uncommitted lines of credit [Member] | Long-Term Notes Payable [Member] | Long-Term Notes Payable [Member] | Long-Term Notes Payable [Member] | 5.90% Senior Notes due April 15, 2016 | 5.90% Senior Notes due April 15, 2016 | 6.25% Senior Notes due July 15, 2019 | 6.25% Senior Notes due July 15, 2019 | 4.45% Senior Notes due August 15, 2020 | 4.45% Senior Notes due August 15, 2020 | 3.625% Senior Notes due May 1, 2022 | 3.625% Senior Notes due May 1, 2022 | Other notes and loans | Other notes and loans | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Debt [Member] | Convertible Notes due July 31, 2032 | Convertible Notes due July 31, 2032 | Convertible Notes due July 31, 2032 | Convertible Notes due July 31, 2032 | Convertible Notes due July 31, 2032 | Convertible Notes due July 31, 2032 | 2033 Notes and 2038 Notes [Member] | Convertible Notes due June 15, 2033 | Convertible Notes due June 15, 2033 | Convertible Notes due July 1, 2038 | Convertible Notes due July 1, 2038 | Convertible Notes due July 1, 2038 | ||||||
Commercial Paper [Member] | Rate | Y | Rate | Y | |||||||||||||||||||||||||||||||||||||||
Lines of Credit [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | $2,500,000,000 | ' | $1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement, expiration date | ' | ' | ' | ' | ' | ' | 12-Oct-16 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Available and unused lines of credit | ' | 3,551,500,000 | 3,378,200,000 | ' | ' | ' | 2,500,000,000 | 2,500,000,000 | ' | ' | ' | ' | 1,051,500,000 | 878,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement, covenant terms | ' | ' | ' | ' | ' | ' | 'The Credit Agreement contains financial covenants that require us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA to no more than 3 times for the most recently ended 12-month period (under the Credit Agreement, EBITDA is defined as earnings before interest, taxes, depreciation and amortization) and an Interest Coverage Ratio of consolidated EBITDA to interest expense of at least 5 times for the most recently ended 12-month period. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Credit Agreement, covenant compliance | ' | ' | ' | ' | ' | ' | 'At December 31, 2013 we were in compliance with these covenants, as our Leverage Ratio was 1.9 times and our Interest Coverage Ratio was 10.7 times. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-Term Borrowings [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings | ' | 5,900,000 | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term borrowings, weighted average interest rate | ' | 5.60% | 9.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Notes Payable [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term notes payable, carrying amount | ' | 3,750,500,000 | 3,750,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | 1,000,000,000 | 500,000,000 | 500,000,000 | 1,000,000,000 | 1,000,000,000 | 1,250,000,000 | 1,250,000,000 | 500,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unamortized premium (discount) on Senior Notes, net | ' | 14,700,000 | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred gain from termination of interest rate swaps on Senior Notes due 2016 | ' | 15,900,000 | 23,100,000 | ' | ' | -33,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term notes payable, total | ' | 3,781,100,000 | 3,789,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-term notes payable, current portion | ' | 400,000 | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Notes Payable | ' | 3,780,700,000 | 3,789,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, total | ' | 252,700,000 | 659,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 252,700,000 | ' | 252,700,000 | 252,700,000 | ' | ' | 0 | 100,000 | 0 | 406,600,000 | ' |
Convertible debt, current | ' | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt | ' | 252,700,000 | 659,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Long-Term Notes Payable and Convertible Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.90% | ' | 6.25% | ' | 4.45% | ' | 3.63% | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' |
Maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Apr-16 | ' | 15-Jul-19 | ' | 15-Aug-20 | ' | 1-May-22 | ' | ' | ' | ' | ' | ' | ' | ' | 31-Jul-32 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, call date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16-May-13 | ' | ' | ' | ' | ' |
Convertible debt, percentage of principal amount redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' |
Convertible debt, conversion rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.313 | ' | ' | ' | ' | 19.4174 | ' | ' | ' | ' | ' |
Convertible debt, latest conversion date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 13-Jun-13 | ' | ' | ' | ' | ' |
Convertible debt, principle amount settled in cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 406,100,000 | ' | ' | ' | ' | ' |
Convertible debt, shares issued for conversion premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,499,792 | ' | ' | ' | ' | ' |
Convertible debt, adjustment to additional paid-in capital | 34,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, repurchase date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17-Jun-13 | ' | ' | ' | ' | ' |
Convertible debt, repurchase amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' | ' | ' | ' | ' |
Convertible debt, issuance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, repayments of convertible debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,382,000,000 | ' | ' | ' | 647,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, put terms | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Holders of the 2032 Notes have the right to put the notes back to us for cash on July 31 of each year and we have the right to redeem the notes for cash at any time on or after July 31, 2014. There are no events that accelerate the noteholders’ put rights. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, contingent interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'Our 2032 Notes accrue contingent interest for the periods August 1, 2013 to January 31, 2014 and February 1, 2014 to July 31, 2014. Contingent interest of $2.81 per $1,000 principal amount was paid on October 31, 2013 and is payable on January 31, 2014, April 30, 2014 and July 31, 2014. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, contingent interest derivative, Interest Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, equity component | ' | ' | ' | ' | 47,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, equity component, net of tax | ' | ' | ' | ' | 28,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, equity component, amortization period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | ' | ' | ' | ' | ' | 1.6 |
Convertible debt, supplemental interest paid | ' | 0 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Components of Interest Expense [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,700,000 | 1,300,000 | 2,500,000 | ' | ' | 174,700,000 | 156,200,000 | 125,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,900,000 | 6,700,000 | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, fees | ' | 6,500,000 | 6,200,000 | 7,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, other | ' | 8,400,000 | 9,300,000 | 12,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest expense, total | ' | 197,200,000 | 179,700,000 | 158,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated Maturities of Long-Term Notes Payable and Convertible Debt [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt, 2014 | ' | 400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt, 2015 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt, 2016 | ' | 1,000,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt, 2017 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt, 2018 | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt, Thereafter | ' | 3,002,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stated maturities of long-term notes payable and convertible debt | ' | $4,003,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Segment_Reporting_Details
Segment Reporting (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Revenue | $4,058.10 | $3,490.50 | $3,637 | $3,398.90 | $3,944.50 | $3,406.60 | $3,561 | $3,307.30 | $14,584.50 | $14,219.40 | $13,872.50 |
Americas | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 8,597.10 | 8,375.80 | 8,018.10 |
Long-lived assets and goodwill | 6,082.60 | ' | ' | ' | 6,066.30 | ' | ' | ' | 6,082.60 | 6,066.30 | 5,960 |
EMEA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 4,407.40 | 4,285 | 4,491 |
Long-lived assets and goodwill | 2,984.60 | ' | ' | ' | 2,875.20 | ' | ' | ' | 2,984.60 | 2,875.20 | 2,614.40 |
Asia Pacific | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | ' | ' | ' | ' | ' | ' | ' | ' | 1,580 | 1,558.60 | 1,363.40 |
Long-lived assets and goodwill | $586.20 | ' | ' | ' | $626.50 | ' | ' | ' | $586.20 | $626.50 | $564.80 |
Equity_Method_Investments_Deta
Equity Method Investments (Details) (USD $) | 3 Months Ended | 12 Months Ended | 3 Months Ended | 12 Months Ended | |||||
In Millions, unless otherwise specified | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2011 | Feb. 01, 2011 | Dec. 31, 2011 | Dec. 31, 2011 | Dec. 31, 2013 |
Clemenger Group [Member] | Clemenger Group [Member] | Affiliate in India [Member] | Affiliate in Turkey [Member] | Level 3 | |||||
Income Approach Valuation Technique [Member] | |||||||||
Equity Method Investments [Member] | |||||||||
Equity interest in the net income of equity method investments | ' | $15.90 | ($15) | $17.20 | ' | ' | ' | ' | ' |
Equity interest in the net assets of equity method investments | ' | 48.4 | 69.1 | ' | ' | ' | ' | ' | ' |
Impairment charge on equity method investment, net | ' | 10.7 | 29.2 | 0 | ' | ' | ' | ' | ' |
Fair Value Inputs, weighted average cost of capital | ' | ' | ' | ' | ' | ' | ' | ' | 27.00% |
Fair Value Inputs, expected long-term growth rate | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% |
Acquisition of controlling interests in affiliates, effective date of acquisition | ' | ' | ' | ' | 1-Feb-11 | ' | ' | ' | ' |
Acquisition of controlling interests in affiliates, ownership percentage after acquisition | ' | ' | ' | ' | ' | 73.70% | 100.00% | 76.00% | ' |
Acquisition of controlling interests in affiliates, ownership percentage before acquisition | ' | ' | ' | ' | ' | 46.70% | ' | ' | ' |
Remeasurement gain, equity interest in Clemenger Group | 123.4 | 0 | 0 | 123.4 | ' | ' | ' | ' | ' |
Remeasurement gain, acquisition of controlling interests in affiliates | ' | $1.60 | $2.10 | $15.10 | ' | ' | ' | ' | ' |
ShareBased_Compensation_Plans_1
Share-Based Compensation Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Share-based employee compensation expense | $86.30 | $80.80 | $74.50 |
Unamortized share-based employee compensation, amortization period | '5 years | ' | ' |
Unamortized share-based employee compensation | 257.2 | ' | ' |
Option Activity [Roll Forward] | ' | ' | ' |
Balance January 1 | 5,590,880 | 18,301,409 | 24,513,590 |
Options granted | 60,000 | 60,000 | 90,000 |
Options exercised | -3,021,200 | -12,673,529 | -6,034,181 |
Options (forfeited) reinstated | 14,000 | -97,000 | -268,000 |
Balance December 31 | 2,643,680 | 5,590,880 | 18,301,409 |
Exercisable December 31 | 2,505,680 | 5,333,880 | 9,672,909 |
Balance January 1, Weighted Average Exercise Price | $25.72 | $26.22 | $26.64 |
Options granted, Weighted Average Exercise Price | $70.68 | $49.65 | $45.05 |
Options exercised, Weighted Average Exercise Price | $26.01 | $26.47 | $28.17 |
Options (forfeited) reinstated, Weighted Average Exercise Price | $23.40 | $35.98 | $27.15 |
Balance December 31, Weighted Average Exercise Price | $26.39 | $25.72 | $26.22 |
Exercisable December 31, Weighted Average Exercise Price | $24.67 | $24.89 | $27.85 |
Options Outstanding and Exercisable [Abstract] | ' | ' | ' |
Options Outstanding, Shares | 2,643,680 | ' | ' |
Options Exercisable, Shares | 2,505,680 | ' | ' |
Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted [Abstract] | ' | ' | ' |
Expected option lives | '5 years | '5 years | '5 years |
Risk free interest rate | 1.40% | 0.80% | ' |
Risk free interest rate, minimum | ' | ' | 0.90% |
Risk free interest rate, maximum | ' | ' | 1.80% |
Expected volatility | 26.00% | 29.50% | ' |
Expected volatility, minimum | ' | ' | 27.20% |
Expected volatility, maximum | ' | ' | 29.20% |
Dividend yield | 2.00% | 3.10% | ' |
Weighted average fair value per option granted | $14.50 | $10.42 | $9.57 |
Exercise Price Range - $23.40 to $29.99 | ' | ' | ' |
Options Outstanding and Exercisable [Abstract] | ' | ' | ' |
Range of Exercise Prices, lower range limit | $23.40 | ' | ' |
Range of Exercise Prices, upper range limit | $29.99 | ' | ' |
Options Outstanding, Shares | 2,337,680 | ' | ' |
Options Outstanding, Weighted Average Remaining Contractual Life | '5 years 2 months | ' | ' |
Options Outstanding, Weighted Average Exercise Price | $23.60 | ' | ' |
Options Exercisable, Shares | 2,337,680 | ' | ' |
Options Exercisable, Weighted Average Exercise Price | $23.60 | ' | ' |
Exercise Price Range - $30.00 to $44.99 | ' | ' | ' |
Options Outstanding and Exercisable [Abstract] | ' | ' | ' |
Range of Exercise Prices, lower range limit | $30 | ' | ' |
Range of Exercise Prices, upper range limit | $44.99 | ' | ' |
Options Outstanding, Shares | 163,000 | ' | ' |
Options Outstanding, Weighted Average Remaining Contractual Life | '6 years 8 months | ' | ' |
Options Outstanding, Weighted Average Exercise Price | $38.78 | ' | ' |
Options Exercisable, Shares | 139,000 | ' | ' |
Options Exercisable, Weighted Average Exercise Price | $37.97 | ' | ' |
Exercise Price Range - $45.00 to $59.99 | ' | ' | ' |
Options Outstanding and Exercisable [Abstract] | ' | ' | ' |
Range of Exercise Prices, lower range limit | $45 | ' | ' |
Range of Exercise Prices, upper range limit | $59.99 | ' | ' |
Options Outstanding, Shares | 83,000 | ' | ' |
Options Outstanding, Weighted Average Remaining Contractual Life | '8 years 2 months | ' | ' |
Options Outstanding, Weighted Average Exercise Price | $48.64 | ' | ' |
Options Exercisable, Shares | 29,000 | ' | ' |
Options Exercisable, Weighted Average Exercise Price | $47.37 | ' | ' |
Exercise Price Range - $60.00 to $70.68 | ' | ' | ' |
Options Outstanding and Exercisable [Abstract] | ' | ' | ' |
Range of Exercise Prices, lower range limit | $60 | ' | ' |
Range of Exercise Prices, upper range limit | $70.68 | ' | ' |
Options Outstanding, Shares | 60,000 | ' | ' |
Options Outstanding, Weighted Average Remaining Contractual Life | '9 years 11 months | ' | ' |
Options Outstanding, Weighted Average Exercise Price | $70.68 | ' | ' |
Options Exercisable, Shares | 0 | ' | ' |
Options Exercisable, Weighted Average Exercise Price | $0 | ' | ' |
Stock Options [Member] | ' | ' | ' |
Share-based employee compensation, terms of award | 'The exercise price of stock option awards may not be less than 100% of the market price of our common stock on the grant date and the option term cannot exceed ten years from the grant date. | ' | ' |
Share-based employee compensation, vesting rights | 'Typically, stock option awards vest 30% per year for the first two years and are fully vested three years from the grant date. | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based employee compensation, vesting rights | 'Restricted shares typically vest 20% per year, provided the employee remains employed by us and are fully vested five years from the grant date. | ' | ' |
Restricted Stock and PRSU Activity [Roll Forward] | ' | ' | ' |
Balance January 1 | 7,241,490 | 6,038,978 | 3,026,086 |
Shares granted | 706,900 | 2,515,127 | 4,274,807 |
Shares vested | -1,490,786 | -981,737 | -1,096,441 |
Shares forfeited | -366,907 | -330,878 | -165,474 |
Balance December 31 | 6,090,697 | 7,241,490 | 6,038,978 |
Restricted Stock and PRSU Activity, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Balance January 1, Weighted Average Grant Date Fair Value | $45.34 | $43.32 | ' |
Granted, Weighted Average Grant Date Fair Value | $60.98 | $49.55 | $44.51 |
Balance December 31, Weighted Average Grant Date Fair Value | $47.47 | $45.34 | $43.32 |
Performance Restricted Stock Units (PRSUs) [Member] | ' | ' | ' |
Share-based employee compensation, vesting rights | 'Each PRSU represents the right to receive one share of common stock on vesting. The ultimate number of PRSUs received by the employee depends on the Company's average return on equity over a three year period compared to the average return on equity of a peer group of four principal competitors over the same period. The 2011 PRSUs vest over five years and the 2012 and 2013 PRSUs vest over three years. | ' | ' |
Restricted Stock and PRSU Activity [Roll Forward] | ' | ' | ' |
Balance January 1 | 538,948 | 413,909 | 0 |
Shares granted | 183,998 | 166,426 | 413,909 |
Shares vested | -41,391 | -41,387 | 0 |
Shares forfeited | 0 | 0 | 0 |
Balance December 31 | 681,555 | 538,948 | 413,909 |
Restricted Stock and PRSU Activity, Weighted Average Grant Date Fair Value [Roll Forward] | ' | ' | ' |
Balance January 1, Weighted Average Grant Date Fair Value | $48.74 | $48.56 | $0 |
Granted, Weighted Average Grant Date Fair Value | $57.77 | $49.13 | $48.56 |
Distributed, Weighted Average Grant Date Fair Value | $48.56 | $48.56 | $0 |
Forfeited, Weighted Average Grant Date Fair Value | $0 | $0 | $0 |
Balance December 31, Weighted Average Grant Date Fair Value | $51.19 | $48.74 | $48.56 |
Employee Stock Purchase Plan [Member] | ' | ' | ' |
Shares available for grant | 9,191,376 | ' | ' |
Employee Stock Purchase Plan (ESPP) [Abstract] | ' | ' | ' |
Discount from market price | 95.00% | ' | ' |
Maximum percentage of eligible compensation allowable for purchase | 10.00% | ' | ' |
Shares issued in period | 175,002 | 189,307 | 161,929 |
Proceeds from issuance of shares | $9.90 | $8.60 | $7 |
2013 Incentive Award Plan [Member] | ' | ' | ' |
Maximum of shares available for issuance | 33,040,000 | ' | ' |
Stock awards other than options, conversion ratio | 3.5 | ' | ' |
Shares available for grant | 32,762,420 | ' | ' |
Stock awards other than options, shares available for grant | 9,360,691 | ' | ' |
Minimum [Member] | ' | ' | ' |
Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted [Abstract] | ' | ' | ' |
Dividend yield | ' | ' | 2.30% |
Maximum [Member] | ' | ' | ' |
Black-Scholes Assumptions and Weighted Average Fair Value Per Share for Options Granted [Abstract] | ' | ' | ' |
Dividend yield | ' | ' | 2.80% |
Income_Taxes_Details
Income Taxes (Details) (USD $) | 3 Months Ended | 12 Months Ended | 24 Months Ended | 12 Months Ended | ||||
Jun. 30, 2013 | Mar. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2013 | Dec. 31, 2013 | |
Convertible Debt [Member] | Minimum [Member] | Maximum [Member] | ||||||
Income Before Income Taxes [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Income before income taxes, Domestic | ' | ' | $629,400,000 | $683,500,000 | $581,000,000 | ' | ' | ' |
Income before income taxes, International | ' | ' | 1,031,500,000 | 976,100,000 | 968,000,000 | ' | ' | ' |
Income Before Income Taxes and Income (Loss) From Equity Method Investments | ' | ' | 1,660,900,000 | 1,659,600,000 | 1,549,000,000 | ' | ' | ' |
Income Tax Expense [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Income tax expense, current, Federal | ' | ' | 246,300,000 | 163,300,000 | 158,600,000 | ' | ' | ' |
Income tax expense, current, State and local | ' | ' | 30,600,000 | 40,100,000 | 14,400,000 | ' | ' | ' |
Income tax expense, current, International | ' | ' | 336,500,000 | 298,300,000 | 239,500,000 | ' | ' | ' |
Income tax expense, current | ' | ' | 613,400,000 | 501,700,000 | 412,500,000 | ' | ' | ' |
Income tax expense, deferred, Federal | ' | ' | 300,000 | 41,700,000 | 83,600,000 | ' | ' | ' |
Income tax expense, deferred, State and local | ' | ' | -3,600,000 | 4,700,000 | 4,900,000 | ' | ' | ' |
Income tax expense, deferred, International | ' | ' | -44,900,000 | -21,000,000 | 4,800,000 | ' | ' | ' |
Income tax expense, deferred | ' | ' | -48,200,000 | 25,400,000 | 93,300,000 | ' | ' | ' |
Income tax expense | ' | ' | 565,200,000 | 527,100,000 | 505,800,000 | ' | ' | ' |
Reconciliation from the Statutory U.S. Federal Income Tax Rate to Effective Tax Rate [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Statutory U.S. federal income tax rate | ' | ' | 35.00% | 35.00% | 35.00% | ' | ' | ' |
State and local income taxes, net of federal income tax benefit | ' | ' | 1.00% | 1.70% | 0.80% | ' | ' | ' |
Reduction of tax on unremitted foreign earnings due to legal reorganization | ' | ' | 0.00% | -1.30% | 0.00% | ' | ' | ' |
Remeasurement gain Clemenger Group, tax rate differential | ' | ' | 0.00% | 0.00% | -2.60% | ' | ' | ' |
International tax rate differentials | ' | ' | -3.00% | -3.30% | -1.40% | ' | ' | ' |
Other | ' | ' | 1.00% | -0.30% | 0.90% | ' | ' | ' |
Effective tax rate | ' | ' | 34.00% | 31.80% | 32.70% | ' | ' | ' |
Effective tax rate, excluding merger expenses | ' | ' | 33.60% | ' | ' | ' | ' | ' |
Reduction of income tax expense | ' | ' | ' | 53,000,000 | ' | ' | ' | ' |
Increase in income tax expense | ' | ' | ' | 16,000,000 | ' | ' | ' | ' |
Tax benefit related to charges incurred in connection with repositioning actions | ' | -39,500,000 | ' | ' | ' | ' | ' | ' |
Tax provision related to remeasurement gain | ' | -2,800,000 | ' | ' | ' | ' | ' | ' |
Tax accrual for agreed upon adjustments to income tax returns currently under examination | ' | 9,000,000 | ' | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits, Penalties and Interest [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | ' | ' | 1,600,000 | 2,500,000 | 2,800,000 | ' | ' | ' |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | ' | ' | 11,500,000 | 18,800,000 | ' | ' | ' | ' |
Deferred tax assets: | ' | ' | ' | ' | ' | ' | ' | ' |
Compensation and severance | ' | ' | 269,800,000 | 283,000,000 | ' | ' | ' | ' |
Tax loss and credit carryforwards | ' | ' | 149,100,000 | 176,100,000 | ' | ' | ' | ' |
Basis differences from acquisitions | ' | ' | 28,700,000 | 20,700,000 | ' | ' | ' | ' |
Basis differences from short-term assets and liabilities | ' | ' | 28,200,000 | 31,800,000 | ' | ' | ' | ' |
Other | ' | ' | 53,200,000 | 44,200,000 | ' | ' | ' | ' |
Deferred tax assets | ' | ' | 529,000,000 | 555,800,000 | ' | ' | ' | ' |
Valuation allowance | ' | ' | -56,800,000 | -47,800,000 | ' | ' | ' | ' |
Net deferred tax assets | ' | ' | 472,200,000 | 508,000,000 | ' | ' | ' | ' |
Deferred tax liabilities: | ' | ' | ' | ' | ' | ' | ' | ' |
Goodwill and intangible assets | ' | ' | 673,300,000 | 635,200,000 | ' | ' | ' | ' |
Financial instruments | ' | ' | 421,800,000 | 508,700,000 | ' | ' | ' | ' |
Unremitted foreign earnings | ' | ' | 114,500,000 | 124,700,000 | ' | ' | ' | ' |
Basis differences from investments | ' | ' | -5,700,000 | 12,200,000 | ' | ' | ' | ' |
Deferred tax liabilities | ' | ' | 1,203,900,000 | 1,280,800,000 | ' | ' | ' | ' |
Net deferred tax assets (liabilities) | ' | ' | -731,700,000 | -772,800,000 | ' | ' | ' | ' |
Net deferred tax assets and (liabilities), classified [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' |
Other current assets - Deferred taxes | ' | ' | 100,900,000 | 160,200,000 | ' | ' | ' | ' |
Long-term deferred tax liabilities | ' | ' | -832,600,000 | -933,000,000 | ' | ' | ' | ' |
Convertible debt, repayments of convertible debt | ' | ' | ' | ' | ' | 1,382,000,000 | ' | ' |
Convertible debt, repayments of convertible debt, deferred tax liability | ' | ' | 329,000,000 | ' | ' | ' | ' | ' |
Convertible debt, repayments of convertible debt, deferred tax liability, current | ' | ' | 66,000,000 | ' | ' | ' | ' | ' |
Convertible debt, current taxes payable | 52,700,000 | ' | ' | ' | ' | ' | ' | ' |
Convertible debt, adjustment to additional paid-in capital | 34,500,000 | ' | ' | ' | ' | ' | ' | ' |
Tax loss and credit carryforwards, expiration dates | ' | ' | ' | ' | ' | ' | 31-Dec-19 | 31-Dec-34 |
Cumulative undistributed earnings of certain foreign subsidiaries indefinitely reinvested | ' | ' | 1,500,000,000 | ' | ' | ' | ' | ' |
Cumulative undistributed earnings of certain foreign subsidiaries not deemed to be indefinitely reinvested | ' | ' | 2,100,000,000 | ' | ' | ' | ' | ' |
Reconciliation of Unrecognized Tax Benefits [Roll Forward] | ' | ' | ' | ' | ' | ' | ' | ' |
Balance January 1 | ' | ' | 188,600,000 | 157,800,000 | ' | ' | ' | ' |
Current year tax positions | ' | ' | 5,100,000 | 17,100,000 | ' | ' | ' | ' |
Prior year tax positions | ' | ' | 400,000 | 27,300,000 | ' | ' | ' | ' |
Reduction of prior year tax positions | ' | ' | -31,400,000 | -7,900,000 | ' | ' | ' | ' |
Settlements | ' | ' | -24,600,000 | -200,000 | ' | ' | ' | ' |
Lapse of statute of limitations | ' | ' | -200,000 | -6,000,000 | ' | ' | ' | ' |
Foreign currency translation | ' | ' | ' | 500,000 | ' | ' | ' | ' |
Foreign currency translation | ' | ' | -100,000 | ' | ' | ' | ' | ' |
Balance December 31 | ' | ' | 137,800,000 | 188,600,000 | 157,800,000 | ' | ' | ' |
Unrecognized tax benefits that would impact effective tax rate | ' | ' | $58,700,000 | $69,700,000 | ' | ' | ' | ' |
Pension_and_Other_Postemployme2
Pension and Other Postemployment Benefits (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Defined Contribution Plans [Abstract] | ' | ' | ' |
Defined contribution plans, contribution expense | $109.30 | $113.50 | $102.10 |
Defined Benefit Pension Plans [Member] | ' | ' | ' |
Defined Benefit Pension Plans and Postemployment Arrangements [Abstract] | ' | ' | ' |
Defined benefit plans, plan information | 'Certain of our subsidiaries sponsor noncontributory defined benefit pension plans. Two of our U.S. businesses and several of our non-U.S. businesses sponsor pension plans. These plans provide benefits to employees based on formulas recognizing length of service and earnings. The U.S. plans cover approximately 1,200 participants, are closed to new participants and do not accrue future benefit credits. The non-U.S. plans, which include plans required by local law, cover approximately 6,900 participants and are not covered by ERISA. | ' | ' |
Components of Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service cost | 4.6 | 6.6 | 5.8 |
Interest cost | 7.3 | 7.6 | 6.5 |
Expected return on plan assets | -3.7 | -3.5 | -3.5 |
Amortization of prior service cost | 3.6 | 3.1 | 3.1 |
Amortization of actuarial (gains) losses | 3.5 | 1 | 0.3 |
Net periodic benefit cost | 15.3 | 14.8 | 12.2 |
Amounts Recognized in Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' |
Unrecognized actuarial gains and losses and unrecognized prior service cost | 68.6 | 90.3 | ' |
Unrecognized actuarial gains and losses and unrecognized prior service cost, net of tax | 42.3 | 55.5 | ' |
Unrecognized actuarial gains and losses expected to be amortized in the next year | 6.6 | ' | ' |
Weighted Average Assumptions Used to Determine the Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Discount rate | 3.90% | 4.60% | 5.10% |
Compensation increases | 1.60% | 1.80% | 1.60% |
Expected return on plan assets | 5.30% | 6.00% | 6.20% |
Defined benefit pension plans, contributions by employer | 5.5 | 9.1 | 7.8 |
Benefit Obligation [Rollforward] | ' | ' | ' |
Benefit obligation January 1 | 188.4 | 146.3 | ' |
Service cost | 4.6 | 6.6 | 5.8 |
Interest cost | 7.3 | 7.6 | 6.5 |
Amendments, curtailments and settlements | 7.6 | 0 | ' |
Actuarial (gains) losses | -18 | 30.5 | ' |
Benefits paid | -5.1 | -4.7 | ' |
Foreign currency translation and other | 0.9 | 2.1 | ' |
Benefit obligation December 31 | 185.7 | 188.4 | 146.3 |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 62.7 | 50.5 | ' |
Actual return on plan assets | 8.1 | 6.5 | ' |
Employer contributions | 5.5 | 9.1 | 7.8 |
Benefits paid | -5.1 | -4.7 | ' |
Foreign currency translation and other | 1 | 1.3 | ' |
Fair value of plan assets December 31 | 72.2 | 62.7 | 50.5 |
Funded Status [Abstract] | ' | ' | ' |
Funded Status December 31 | -113.5 | -125.7 | ' |
Amounts Recorded in Balance Sheet [Abstract] | ' | ' | ' |
Other assets | 5.6 | 3.5 | ' |
Other current liabilities | -1.1 | -1.4 | ' |
Long-term liabilities | -118 | -127.8 | ' |
Total amount recognized in balance sheet | -113.5 | -125.7 | ' |
Accumulated benefit obligation | 173 | 176.5 | ' |
Plans with Benefit Obligations in Excess of Plan Assets [Abstract] | ' | ' | ' |
Benefit obligation | 143.1 | 168.8 | ' |
Plan assets | 24 | 39.6 | ' |
Plans with benefit obligations in excess of plan assets, Liabilities | 119.1 | 129.2 | ' |
Weighted Average Assumptions Used to Determine Benefit Obligation [Abstract] | ' | ' | ' |
Discount rate | 4.40% | 3.70% | ' |
Compensation increases | 1.60% | 1.70% | ' |
Estimated Future Benefit Payments [Abstract] | ' | ' | ' |
2014 | 4.6 | ' | ' |
2015 | 6.6 | ' | ' |
2016 | 6.5 | ' | ' |
2017 | 6.6 | ' | ' |
2018 | 7.7 | ' | ' |
2019 - 2023 | 61.9 | ' | ' |
Weighted Average Asset Allocations [Abstract] | ' | ' | ' |
Percentage of Plan Assets, Target Allocation | 100.00% | ' | ' |
Percentage of Plan Assets, Actual Allocation | 100.00% | 100.00% | ' |
Defined Benefit Pension Plans [Member] | Level 1 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 67.9 | 59.7 | ' |
Defined Benefit Pension Plans [Member] | Level 2 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 0.9 | 0.1 | ' |
Defined Benefit Pension Plans [Member] | Level 3 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 2.9 | 1.7 | ' |
Actual return on plan assets | 0.1 | 0.1 | ' |
Purchases, sales and settlements, net | 0.4 | 1.1 | ' |
Fair value of plan assets December 31 | 3.4 | 2.9 | ' |
Defined Benefit Pension Plans [Member] | Cash | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 2.3 | ' | ' |
Fair value of plan assets December 31 | 2.1 | ' | ' |
Weighted Average Asset Allocations [Abstract] | ' | ' | ' |
Percentage of Plan Assets, Target Allocation | 2.00% | ' | ' |
Percentage of Plan Assets, Actual Allocation | 3.00% | 3.00% | ' |
Defined Benefit Pension Plans [Member] | Cash | Level 1 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 2.1 | 2.3 | ' |
Defined Benefit Pension Plans [Member] | Mutual funds | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 36.8 | ' | ' |
Fair value of plan assets December 31 | 42.5 | ' | ' |
Weighted Average Asset Allocations [Abstract] | ' | ' | ' |
Percentage of Plan Assets, Target Allocation | 57.00% | ' | ' |
Percentage of Plan Assets, Actual Allocation | 59.00% | 59.00% | ' |
Defined Benefit Pension Plans [Member] | Mutual funds | Level 1 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 42.5 | 36.8 | ' |
Defined Benefit Pension Plans [Member] | Unit trusts | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 20.6 | ' | ' |
Fair value of plan assets December 31 | 23.3 | ' | ' |
Weighted Average Asset Allocations [Abstract] | ' | ' | ' |
Percentage of Plan Assets, Target Allocation | 34.00% | ' | ' |
Percentage of Plan Assets, Actual Allocation | 32.00% | 33.00% | ' |
Defined Benefit Pension Plans [Member] | Unit trusts | Level 1 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 23.3 | 20.6 | ' |
Defined Benefit Pension Plans [Member] | Insurance contracts | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 2.9 | ' | ' |
Fair value of plan assets December 31 | 3.4 | ' | ' |
Weighted Average Asset Allocations [Abstract] | ' | ' | ' |
Percentage of Plan Assets, Target Allocation | 5.00% | ' | ' |
Percentage of Plan Assets, Actual Allocation | 5.00% | 5.00% | ' |
Defined Benefit Pension Plans [Member] | Insurance contracts | Level 3 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 3.4 | 2.9 | ' |
Defined Benefit Pension Plans [Member] | Other | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of assets January 1 | 0.1 | ' | ' |
Fair value of plan assets December 31 | 0.9 | ' | ' |
Weighted Average Asset Allocations [Abstract] | ' | ' | ' |
Percentage of Plan Assets, Target Allocation | 2.00% | ' | ' |
Percentage of Plan Assets, Actual Allocation | 1.00% | 0.00% | ' |
Defined Benefit Pension Plans [Member] | Other | Level 2 | ' | ' | ' |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Fair value of plan assets December 31 | 0.9 | 0.1 | ' |
Retention Plan [Member] | ' | ' | ' |
Defined Benefit Pension Plans and Postemployment Arrangements [Abstract] | ' | ' | ' |
Defined benefit plans, plan information | 'In addition, we have a Senior Executive Restrictive Covenant and Retention Plan (“Retention Planâ€) for certain executive officers of Omnicom selected to participate by the Compensation Committee. The Retention Plan is a non-qualified deferred compensation severance plan that was adopted to secure non-competition, non-solicitation, non-disparagement and ongoing consulting services from such executive officers and to strengthen the retention aspect of executive officer compensation. The Retention Plan provides annual payments upon termination following at least seven years of service with Omnicom or its subsidiaries to the participants or to their beneficiaries. A participant’s annual benefit is payable for 15 consecutive calendar years following termination, but in no event prior to age 55. The annual benefit is equal to the lesser of (i) the participant’s final average pay times an applicable percentage, which is based upon the executive’s years of service as an executive officer, not to exceed 35% or (ii) $1.5 million, adjusted for cost-of-living not to exceed 2.5% per year. The Retention Plan is unfunded and benefits will be paid when due. | ' | ' |
Postemployment Arrangements [Member] | ' | ' | ' |
Defined Benefit Pension Plans and Postemployment Arrangements [Abstract] | ' | ' | ' |
Defined benefit plans, plan information | 'We have executive retirement agreements under which benefits will be paid to participants or to their beneficiaries over periods up to ten years beginning after cessation of full-time employment. Our postemployment arrangements are unfunded and benefits are paid when due. | ' | ' |
Components of Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Service cost | 4.1 | 4.1 | 3.9 |
Interest cost | 4.3 | 4.7 | 4.7 |
Amortization of prior service cost | 1.9 | 0.7 | 0.6 |
Amortization of actuarial (gains) losses | 1.5 | 2 | 2.1 |
Net periodic benefit cost | 11.8 | 11.5 | 11.3 |
Amounts Recognized in Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' |
Unrecognized actuarial gains and losses and unrecognized prior service cost | 44.2 | 57.2 | ' |
Unrecognized actuarial gains and losses and unrecognized prior service cost, net of tax | 26.5 | 34.3 | ' |
Unrecognized actuarial gains and losses expected to be amortized in the next year | 3 | ' | ' |
Weighted Average Assumptions Used to Determine the Net Periodic Benefit Cost [Abstract] | ' | ' | ' |
Discount rate | 4.10% | 4.90% | 5.00% |
Compensation increases | 3.50% | 3.50% | 3.50% |
Benefit Obligation [Rollforward] | ' | ' | ' |
Benefit obligation January 1 | 118.7 | 105.2 | ' |
Service cost | 4.1 | 4.1 | 3.9 |
Interest cost | 4.3 | 4.7 | 4.7 |
Amendments, curtailments and settlements | 2.8 | 0 | ' |
Actuarial (gains) losses | -12.3 | 15 | ' |
Benefits paid | -13.4 | -10.3 | ' |
Benefit obligation December 31 | 104.2 | 118.7 | 105.2 |
Fair Value of Plan Assets [Rollforward] | ' | ' | ' |
Benefits paid | -13.4 | -10.3 | ' |
Amounts Recorded in Balance Sheet [Abstract] | ' | ' | ' |
Other current liabilities | -9.3 | -9.9 | ' |
Long-term liabilities | -94.9 | -108.8 | ' |
Total amount recognized in balance sheet | -104.2 | -118.7 | ' |
Weighted Average Assumptions Used to Determine Benefit Obligation [Abstract] | ' | ' | ' |
Discount rate | 4.70% | 3.70% | ' |
Compensation increases | 3.50% | 3.50% | ' |
Estimated Future Benefit Payments [Abstract] | ' | ' | ' |
2014 | 9.3 | ' | ' |
2015 | 9 | ' | ' |
2016 | 9 | ' | ' |
2017 | 7.3 | ' | ' |
2018 | 6.8 | ' | ' |
2019 - 2023 | $25.60 | ' | ' |
Supplemental_Cash_Flow_Data_De
Supplemental Cash Flow Data (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Jun. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Changes in Operating Capital [Abstract] | ' | ' | ' | ' |
(Increase) decrease in accounts receivable | ' | $244.80 | ($218.70) | ($471.40) |
(Increase) decrease in work in process and other current assets | ' | -354.5 | 4.8 | -53.2 |
Increase (decrease) in accounts payable | ' | 143.5 | 127.8 | 262.7 |
Increase (decrease) in customer advances and other current liabilities | ' | 252.6 | -151.8 | -4.5 |
Change in other assets and liabilities, net | ' | 64.9 | 263.1 | 295.6 |
Change in operating capital | ' | 351.3 | 25.2 | 29.2 |
Income taxes paid | ' | 472.4 | 321.1 | 365.4 |
Interest paid | ' | 192.8 | 165.5 | 153.9 |
Convertible debt, fair value of common stock issued | 95.4 | ' | ' | ' |
Convertible debt, adjustment to additional paid-in capital | $34.50 | ' | ' | ' |
Noncontrolling_Interests_Detai
Noncontrolling Interests (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Changes in Ownership Interests in Less Than 100% Owned Subsidiaries [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Net income attributed to Omnicom Group Inc. | $300.50 | $196 | $289.50 | $205.10 | $307.10 | $203.90 | $282.70 | $204.60 | $991.10 | $998.30 | $952.60 |
Increase in additional paid-in capital from sale of shares in noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | 5.2 | 2.6 | 4.8 |
Decrease in additional paid-in capital from purchase of shares in noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -22 | -30.7 | -37.6 |
Net transfers (to) from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | -16.8 | -28.1 | -32.8 |
Changes in net income attributed to Omnicom Group Inc. and transfers (to) from noncontrolling interests | ' | ' | ' | ' | ' | ' | ' | ' | $974.30 | $970.20 | $919.80 |
Leases_Details
Leases (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Rent Expense [Abstract] | ' | ' | ' |
Rent expense, net | $402.40 | $416.40 | $411.50 |
Future Minimum Lease Payments Under Non-Cancelable Operating Leases [Abstract] | ' | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent, 2014 | 380.4 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent, 2015 | 268.7 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent, 2016 | 195.3 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent, 2017 | 139.1 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent, 2018 | 111.2 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent, Thereafter | 302.9 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Gross Rent | 1,397.60 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent, 2014 | 8.6 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent, 2015 | 4 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent, 2016 | 1.6 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent, 2017 | 1.5 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent, 2018 | 0.4 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent, Thereafter | 0 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Less Sublease Rent | 16.1 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent, 2014 | 371.8 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent, 2015 | 264.7 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent, 2016 | 193.7 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent, 2017 | 137.6 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent, 2018 | 110.8 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent, Thereafter | 302.9 | ' | ' |
Operating Leases, Future Minimum Lease Payments, Net Rent | 1,381.50 | ' | ' |
Future Minimum Lease Payments Under Non-Cancelable Capital Leases [Abstract] | ' | ' | ' |
Capital Leases, Future Minimum Lease Payments, 2014 | 22.8 | ' | ' |
Capital Leases, Future Minimum Lease Payments, 2015 | 15.7 | ' | ' |
Capital Leases, Future Minimum Lease Payments, 2016 | 8.6 | ' | ' |
Capital Leases, Future Minimum Lease Payments, 2017 | 4.6 | ' | ' |
Capital Leases, Future Minimum Lease Payments, 2018 | 3.3 | ' | ' |
Capital Leases, Future Minimum Lease Payments, Thereafter | 2.4 | ' | ' |
Capital Leases, Future Minimum Lease Payments, Total minimum lease payments | 57.4 | ' | ' |
Capital Leases, Future Minimum Lease Payments, Less interest component | 2 | ' | ' |
Capital Leases, Future Minimum Lease Payments, Present value of minimum lease payments | 55.4 | ' | ' |
Property Under Capital Lease and Capital Lease Obligations [Abstract] | ' | ' | ' |
Property under capital lease, Cost | 134 | 126.3 | ' |
Property under capital lease, Accumulated depreciation | -80.5 | -71.3 | ' |
Property under capital lease | 53.5 | 55 | ' |
Capital lease obligations, Current | 22.2 | 23.4 | ' |
Capital lease obligations, Long-term | 33.2 | 33.9 | ' |
Capital lease obligations | 55.4 | 57.3 | ' |
Property under capital lease, Depreciation expense | 26.4 | 25.9 | 25 |
Office [Member] | ' | ' | ' |
Rent Expense [Abstract] | ' | ' | ' |
Office base rent | 379.9 | 390.5 | 381.6 |
Less third party sublease rent | 10.6 | 10.4 | 12.8 |
Rent expense, net | 369.3 | 380.1 | 368.8 |
Equipment [Member] | ' | ' | ' |
Rent Expense [Abstract] | ' | ' | ' |
Rent expense, net | $33.10 | $36.30 | $42.70 |
Temporary_Equity_Redeemable_No1
Temporary Equity - Redeemable Noncontrolling Interests (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Redeemable noncontrolling interest | $202 | $198.40 |
Redeemable noncontrolling interests, currently exercisable | $110.10 | ' |
Fair_Value_Details
Fair Value (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Assets: | ' | ' |
Short-term investments | $18.20 | $20.60 |
Available-for-sale securities | 4.9 | 3.9 |
Liabilities: | ' | ' |
Contingent purchase price obligations | 220.2 | 266.2 |
Contingent purchase price obligations | ' | ' |
Changes in Level 3 Contingent Purchase Price Obligations [Roll Forward] | ' | ' |
Balance January 1 | 266.2 | 142.6 |
Acquisitions | 35.8 | 165.2 |
Payments | -70.5 | -32.2 |
Foreign currency translation | -0.4 | 3.8 |
Balance December 31 | 220.2 | 266.2 |
Contingent purchase price obligations | Interest Expense [Member] | ' | ' |
Changes in Level 3 Contingent Purchase Price Obligations [Roll Forward] | ' | ' |
Revaluation and interest | -10.9 | -13.2 |
Carrying Amount | ' | ' |
Assets: | ' | ' |
Cash and cash equivalents | 2,710.50 | 2,678.30 |
Short-term investments | 18.2 | 20.6 |
Forward foreign exchange contracts | 2.2 | 0.5 |
Available-for-sale securities | 4.9 | 3.9 |
Cost method investments | 22.2 | 23.1 |
Liabilities: | ' | ' |
Short-term borrowings | 5.9 | 6.4 |
Forward foreign exchange contracts | 0.1 | 0 |
Contingent interest derivative | 2.1 | 0 |
Contingent purchase price obligations | 220.2 | 266.2 |
Debt | 4,033.80 | 4,448.90 |
Fair Value | ' | ' |
Assets: | ' | ' |
Cash and cash equivalents | 2,710.50 | 2,678.30 |
Short-term investments | 18.2 | 20.6 |
Forward foreign exchange contracts | 2.2 | 0.5 |
Available-for-sale securities | 4.9 | 3.9 |
Cost method investments | 22.2 | 23.1 |
Liabilities: | ' | ' |
Short-term borrowings | 5.9 | 6.4 |
Forward foreign exchange contracts | 0.1 | 0 |
Contingent interest derivative | 2.1 | 0 |
Contingent purchase price obligations | 220.2 | 266.2 |
Debt | 4,302.70 | 4,857.30 |
Fair Value, Measurements, Recurring [Member] | Level 1 | ' | ' |
Assets: | ' | ' |
Cash and cash equivalents | 2,710.50 | 2,678.30 |
Short-term investments | 18.2 | 20.6 |
Available-for-sale securities | 4.9 | 3.9 |
Fair Value, Measurements, Recurring [Member] | Level 2 | ' | ' |
Assets: | ' | ' |
Forward foreign exchange contracts | 2.2 | 0.5 |
Liabilities: | ' | ' |
Forward foreign exchange contracts | 0.1 | ' |
Contingent interest derivative | 2.1 | ' |
Fair Value, Measurements, Recurring [Member] | Level 3 | ' | ' |
Liabilities: | ' | ' |
Contingent purchase price obligations | 220.2 | 266.2 |
Fair Value, Measurements, Recurring [Member] | Total | ' | ' |
Assets: | ' | ' |
Cash and cash equivalents | 2,710.50 | 2,678.30 |
Short-term investments | 18.2 | 20.6 |
Forward foreign exchange contracts | 2.2 | 0.5 |
Available-for-sale securities | 4.9 | 3.9 |
Liabilities: | ' | ' |
Forward foreign exchange contracts | 0.1 | ' |
Contingent interest derivative | 2.1 | ' |
Contingent purchase price obligations | $220.20 | $266.20 |
Derivative_Instruments_and_Hed1
Derivative Instruments and Hedging Activities (Details) (Forward Foreign Exchange Contracts [Member], USD $) | 12 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 |
Foreign Exchange Risk of Intercompany Borrowing and Investment Activities [Member] | Foreign Exchange Risk of Intercompany Borrowing and Investment Activities [Member] | Foreign Exchange Risk of Revenue and Expenses Denominated in Different Currencies [Member] | Foreign Exchange Risk of Revenue and Expenses Denominated in Different Currencies [Member] | ||
Fair Value Hedge [Member] | Fair Value Hedge [Member] | Fair Value Hedge [Member] | Fair Value Hedge [Member] | ||
Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | Designated as Hedging Instrument [Member] | ||
Forward foreign exchange contracts, notional amount | ' | $207 | $181.50 | $56.20 | $63.60 |
Forward foreign exchange contracts, terms | 'The terms of our forward contracts are generally less than 90 days. | ' | ' | ' | ' |
Changes_in_Accumulated_Other_C2
Changes in Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance January 1 | ($129.50) | ' | ' |
Other comprehensive income (loss) before reclassifications | -83.1 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 21 | ' | ' |
Other comprehensive income (loss) | -62.1 | ' | ' |
Balance December 31 | -191.6 | -129.5 | ' |
Reclassification out of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' |
Income Before Income Taxes and Income (Loss) From Equity Method Investments | 1,660.90 | 1,659.60 | 1,549 |
Income Tax Expense | 565.2 | 527.1 | 505.8 |
Net Income | 1,111.60 | 1,117.50 | 1,060.40 |
Unrealized Gain (Loss) on Available-for-Sale Securities | ' | ' | ' |
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance January 1 | -2 | ' | ' |
Other comprehensive income (loss) before reclassifications | 0.4 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | ' | ' |
Other comprehensive income (loss) | 0.4 | ' | ' |
Balance December 31 | -1.6 | ' | ' |
Defined Benefit Pension and Postemployment Plans | ' | ' | ' |
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance January 1 | -89.8 | ' | ' |
Other comprehensive income (loss) before reclassifications | 0 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 21 | ' | ' |
Other comprehensive income (loss) | 21 | ' | ' |
Balance December 31 | -68.8 | ' | ' |
Defined Benefit Pension and Postemployment Plans | Reclassification out of Accumulated Other Comprehensive Income [Member] | ' | ' | ' |
Reclassification out of Accumulated Other Comprehensive Income [Abstract] | ' | ' | ' |
Prior service cost | 5.5 | ' | ' |
Actuarial (gains) losses | 5 | ' | ' |
Income Before Income Taxes and Income (Loss) From Equity Method Investments | 10.5 | ' | ' |
Income Tax Expense | 4.2 | ' | ' |
Net Income | 6.3 | ' | ' |
Foreign Currency Translation | ' | ' | ' |
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' |
Balance January 1 | -37.7 | ' | ' |
Other comprehensive income (loss) before reclassifications | -83.5 | ' | ' |
Amounts reclassified from accumulated other comprehensive income (loss) | 0 | ' | ' |
Other comprehensive income (loss) | -83.5 | ' | ' |
Balance December 31 | ($121.20) | ' | ' |
Quarterly_Results_of_Operation2
Quarterly Results of Operations (Unaudited) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Quarterly Results of Operations (Unaudited) [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revenue | $4,058.10 | $3,490.50 | $3,637 | $3,398.90 | $3,944.50 | $3,406.60 | $3,561 | $3,307.30 | $14,584.50 | $14,219.40 | $13,872.50 |
Operating expenses | 3,506.90 | 3,111.10 | 3,114 | 3,027.20 | 3,396.50 | 3,019.30 | 3,054.60 | 2,944.80 | 12,759.20 | 12,415.20 | 12,201.40 |
Operating Income | 551.2 | 379.4 | 523 | 371.7 | 548 | 387.3 | 506.4 | 362.5 | 1,825.30 | 1,804.20 | 1,671.10 |
Net income - Omnicom Group Inc. | $300.50 | $196 | $289.50 | $205.10 | $307.10 | $203.90 | $282.70 | $204.60 | $991.10 | $998.30 | $952.60 |
Net Income Per Share Omnicom Group Inc. - Basic | $1.14 | $0.74 | $1.09 | $0.76 | $1.13 | $0.75 | $1.03 | $0.73 | $3.73 | $3.64 | $3.38 |
Net Income Per Share Omnicom Group Inc. - Diluted | $1.13 | $0.74 | $1.09 | $0.76 | $1.13 | $0.74 | $1.02 | $0.72 | $3.71 | $3.61 | $3.33 |
SCHEDULE_II_VALUATION_AND_QUAL2
SCHEDULE II - VALUATION AND QUALIFYING ACCOUNTS (Details) (Allowance for Doubtful Accounts [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts [Member] | ' | ' | ' |
Valuation accounts deducted from assets: | ' | ' | ' |
Balance at Beginning of Period | $35.90 | $40.60 | $46.70 |
Charged to Costs and Expenses | 9.7 | 11.4 | 8.1 |
Removal of Uncollectible Receivables | 12.8 | 16.5 | 13.2 |
Translation Adjustments (Increase) Decrease | 0.2 | -0.4 | 1 |
Balance at End of Period | $32.60 | $35.90 | $40.60 |