Omnicom (OMC) 10-Q 10 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 15, 2016
Document Information [Line Items]
Entity Registrant Name	OMNICOM GROUP INC.
Entity Central Index Key	29,989
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		237,749,905

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 1,747.3	$ 2,605.2
Short-term investments, at cost	2.7	14.5
Accounts receivable, net of allowance for doubtful accounts of $22.8 and $22.5	6,321.4	7,220.9
Work in process	1,361.5	1,122.7
Other current assets	1,112.5	1,017.2
Total Current Assets	10,545.4	11,980.5
Property and Equipment at cost, less accumulated depreciation of $1,234.2 and $1,206.6	690.1	692.7
Equity Method Investments	137.9	136.6
Goodwill	9,044.2	8,676.4
Intangible Assets, net of accumulated amortization of $717.0 and $680.7	401	344.8
Other Assets	249.1	279.7
TOTAL ASSETS	21,067.7	22,110.7
Current Liabilities:
Accounts payable	8,405.8	9,812
Customer advances	1,252.3	1,283.5
Current portion of debt	1,000.2	1,001.4
Short-term debt	38.8	5.2
Taxes payable	274.1	319.1
Other current liabilities	1,968.2	1,798.4
Total Current Liabilities	12,939.4	14,219.6
Long-Term Debt	3,612.7	3,564.2
Long-Term Liabilities	915.8	800.5
Long-Term Deferred Tax Liabilities	$ 489	$ 469.1
Commitments and Contingent Liabilities (See Note 10)
Temporary Equity - Redeemable Noncontrolling Interests	$ 203.5	$ 167.9
Shareholders’ Equity:
Preferred stock	0	0
Common stock	59.6	59.6
Additional paid-in capital	811.1	859.9
Retained earnings	10,275.9	10,178.2
Accumulated other comprehensive income (loss)	(949.3)	(1,015.4)
Treasury stock, at cost	(7,821.8)	(7,629.9)
Total Shareholders’ Equity	2,375.5	2,452.4
Noncontrolling interests	531.8	437
Total Equity	2,907.3	2,889.4
TOTAL LIABILITIES AND EQUITY	$ 21,067.7	$ 22,110.7

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Allowance for doubtful accounts	$ 22.8	$ 22.5
Accumulated depreciation	1,234.2	1,206.6
Intangible assets, accumulated amortization	$ 717	$ 680.7

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue	$ 3,499.1	$ 3,469.2
Salary and service costs	2,624.6	2,597.2
Occupancy and other costs	300.1	318
Cost of services	2,924.7	2,915.2
Selling, general and administrative expenses	108.1	102.1
Depreciation and amortization	74.2	74.2
Operating Expenses	3,107	3,091.5
Operating Income	392.1	377.7
Interest Expense	50.3	43.6
Interest Income	10.2	9.4
Income Before Income Taxes and Income (Loss) From Equity Method Investments	352	343.5
Income Tax Expense	115.5	112.7
Income (Loss) From Equity Method Investments	(0.2)	(1)
Net Income	236.3	229.8
Net Income Attributed To Noncontrolling Interests	17.9	20.7
Net Income - Omnicom Group Inc.	$ 218.4	$ 209.1
Net Income Per Share - Omnicom Group Inc.:
Basic	$ 0.90	$ 0.84
Diluted	0.90	0.83
Dividends Declared Per Common Share	$ 0.50	$ 0.50

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Income	$ 236.3	$ 229.8
Unamortized loss on cash flow hedge, net of income taxes of ($20.3) and ($1.7) for the three months ended March 31, 2016 and 2015, respectively	(28.5)	(2.5)
Unrealized gain on available-for-sale securities, net of income taxes of $0.1 for the three months ended March 31, 2015	0	0.2
Foreign currency translation adjustment, net of income taxes of $58.2 and ($175.8) for the three months ended March 31, 2016 and 2015, respectively	113.1	(341.3)
Defined benefit pension and postemployment plans adjustment, net of income taxes of $1.0 and $1.5 for the three months ended March 31, 2016 and 2015, respectively	2.3	2.2
Other Comprehensive Income (Loss)	86.9	(341.4)
Comprehensive Income (Loss)	323.2	(111.6)
Comprehensive Income (Loss) Attributed to Noncontrolling Interests	38.7	(2.2)
Comprehensive Income (Loss) - Omnicom Group Inc.	$ 284.5	$ (109.4)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Unamortized loss on cash flow hedge, income taxes	$ (20.3)	$ (1.7)
Unrealized gain on available-for-sale securities, income taxes	0	0.1
Foreign currency translation adjustment, income taxes	58.2	(175.8)
Defined benefit pension and postemployment plans adjustment, income taxes	$ 1	$ 1.5

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net Income	$ 236.3	$ 229.8
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	45.9	46.9
Amortization of intangible assets	28.3	27.3
Amortization of deferred gain from termination of interest rate swaps	(4.1)	(1.8)
Share-based compensation	23	24.6
Excess tax benefit from share-based compensation	(7.2)	(10.9)
Deferred gain from termination of interest rate swaps	54.2	0
Other, net	(30.5)	5.6
Change in operating capital	(807.1)	(559.5)
Net Cash Used in Operating Activities	(461.2)	(238)
Cash Flows from Investing Activities:
Capital expenditures	(41.4)	(38.2)
Acquisition of businesses and interests in affiliates, net of cash acquired	(86.6)	(22.8)
Other, net	(11.7)	3.9
Net Cash Used in Investing Activities	(116.3)	(64.9)
Cash Flows from Financing Activities:
Change in short-term debt	13.3	2.7
Dividends paid to common shareholders	(122.2)	(126.2)
Repurchases of common stock	(207.1)	(270.7)
Proceeds from stock plans	6.7	3.7
Acquisition of additional noncontrolling interests	(19.8)	(3.1)
Dividends paid to noncontrolling interest shareholders	(14.9)	(25)
Payment of contingent purchase price obligations	(8.2)	(1.8)
Excess tax benefit from share-based compensation	7.2	10.9
Other, net	(13.2)	(9)
Net Cash Used in Financing Activities	(358.2)	(418.5)
Effect of foreign exchange rate changes on cash and cash equivalents	77.8	(140)
Net Decrease in Cash and Cash Equivalents	(857.9)	(861.4)
Cash and Cash Equivalents at the Beginning of Period	2,605.2	2,388.1
Cash and Cash Equivalents at the End of Period	$ 1,747.3	$ 1,526.7

Presentation of Financial State

Presentation of Financial Statements	3 Months Ended
	Mar. 31, 2016
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 unaudited consolidated financial statements were prepared in accordance with generally accepted accounting principles in the United States (“U.S. GAAP” or “GAAP”) for interim financial information and Article 10 of Regulation S-X of the Securities and Exchange Commission. Accordingly, certain information and footnote disclosure have been condensed or omitted. In our opinion, the accompanying unaudited consolidated financial statements reflect all adjustments, consisting of normal recurring accruals, considered necessary for a fair presentation, in all material respects, of the information contained herein. These unaudited consolidated financial statements should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2015 (“ 2015 10-K”). Results for the interim periods are not necessarily indicative of results that may be expected for the year. Certain reclassifications have been made to the prior year financial information to conform to the current year presentation. Effective January 1, 2016, selling, general and administrative expenses (“SG&A”) for the current and prior period are reported as a separate line in the unaudited consolidated statements of income. Historically, we included SG&A expenses in salary and service costs and occupancy and other costs. In addition, we present cost of services in two distinct categories: salary and service costs and occupancy and other costs. As a service business, salary and service costs make up the vast majority of our operating expenses and substantially all these costs comprise the essential components directly linked to the delivery of our services, such as employee compensation, including freelance labor, employee benefit related costs, direct service costs, including the costs of third-party suppliers, and client-related travel costs. Occupancy and other costs consist of the indirect costs related to the delivery of our services, including office and equipment rent, other occupancy costs, technology costs, general office expenses and other expenses. SG&A expenses primarily consist of third-party marketing costs, professional fees and compensation and related benefits and occupancy and other costs of our corporate and executive offices, including group-wide finance and accounting, treasury, legal and governance, human resource oversight and similar costs.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2016
New Accounting Standards [Abstract]
New Accounting Standards	New Accounting Standards In May 2014, the FASB issued FASB ASU 2014-09, Revenue from Contracts with Customers (“ASU 2014-09”) , which will replace all existing revenue recognition guidance under U.S. GAAP. On July 9, 2015, the FASB approved a one-year deferral of the effective date of ASU 2014-09 to all annual and interim periods beginning after December 15, 2017, with early application permitted only for annual and interim periods beginning after December 31, 2016. ASU 2014-09 provides for one of two methods of transition: retrospective application to each prior period presented or recognition of the cumulative effect of retrospective application of the new standard as of the beginning of the period of initial application. Presently, we are not yet in a position to conclude on the application date or the transition method we will choose. Based on our initial assessment, the impact of the application of the new standard will likely result in a change in the timing of our revenue recognition for performance incentives received from clients and the recognition of certain reimbursable out-of-pocket costs as revenue. Performance incentives are currently recognized in revenue when specific quantitative goals are achieved, or when our performance against qualitative goals is determined by the client. Under the new standard, we will be required to estimate the amount of the incentive that will be earned at the inception of the contract and recognize the incentive over the term of the contract. While performance incentives are not material to our revenue, this will result in an acceleration in revenue recognition for certain contract incentives compared to the current method. Certain incidental costs that are reimbursed by our clients and are currently required to be recorded in revenue will likely not be recorded as revenue under the new standard. We expect this will result in less revenue and related cost recorded in our results of operations. While we have not yet completed our assessment, we do not expect this change to have a material impact on our revenue and it will not result in any change to operating income. In February 2016, the FASB issued FASB ASU 2016-02, Leases (“ASU 2016-02”), which eliminates the current tests for lease classification under U.S. GAAP and requires lessees to recognize the right-to-use assets and related lease liabilities on the balance sheet. ASU 2016-02 is effective for annual and interim periods beginning after December 15, 2018 and early application is permitted. The new standard provides for a modified retrospective application for leases existing at, or entered into after, the earliest comparative period presented in the financial statements. We will apply ASU 2016-02 on January 1, 2019. While we are not yet in a position to assess the full impact of the application of the new standard, we expect that the impact of recording the lease liabilities and the corresponding right-to-use assets will have a significant impact on our total assets and liabilities with a minimal impact on our equity. In March 2016, the FASB issued FASB ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which changes certain aspects of the accounting for share-based payments to employees. ASU 2016-09 is effective for annual and interim periods beginning after December 15, 2016 and early application is permitted. Certain changes will be applied prospectively and other changes will be applied using a modified retrospective approach with the recognition of the cumulative effect of the application of the new standard as of the beginning of the period of initial application. We will apply ASU 2016-09 on January 1, 2017. However, we are not yet in a position to assess the impact of the application of the new standard on our results of operations or financial position.

Net Income Per Common Share

Net Income Per Common Share	3 Months Ended
	Mar. 31, 2016
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 months ended March 31, 2016 and 2015 were (in millions, except per share amounts): 2016 2015 Net Income Available for Common Shares: Net income - Omnicom Group Inc. $ 218.4 $ 209.1 Net income allocated to participating securities (1.5 ) (2.8 ) $ 216.9 $ 206.3 Weighted Average Shares: Basic 240.0 246.4 Dilutive stock options and restricted shares 1.1 1.0 Diluted 241.1 247.4 Anti-dilutive stock options and restricted shares 0.1 0.1 Net Income per Common Share - Omnicom Group Inc.: Basic $ 0.90 $ 0.84 Diluted $ 0.90 $ 0.83

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and intangible assets at March 31, 2016 and December 31, 2015 were (in millions): 2016 2015 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Goodwill $ 9,577.8 $ (533.6 ) $ 9,044.2 $ 9,205.7 $ (529.3 ) $ 8,676.4 Intangible assets: Purchased and internally developed software $ 329.1 $ (254.8 ) $ 74.3 $ 310.5 $ (239.9 ) $ 70.6 Customer related and other 788.9 (462.2 ) 326.7 715.0 (440.8 ) 274.2 $ 1,118.0 $ (717.0 ) $ 401.0 $ 1,025.5 $ (680.7 ) $ 344.8 Changes in goodwill for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 January 1 $ 8,676.4 $ 8,822.2 Acquisitions 121.2 18.5 Noncontrolling interests in acquired businesses 51.8 1.8 Contingent purchase price of acquired businesses 98.4 44.8 Foreign currency translation and other 96.4 (247.5 ) March 31 $ 9,044.2 $ 8,639.8 There were no goodwill impairment losses recorded in the first three months of 2016 or 2015 and there are no accumulated goodwill impairment losses.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Debt	Debt Credit Facilities As a source of short-term financing, we have a $2.5 billion revolving credit facility (“Credit Facility”) that expires July 31, 2020 and domestic and international uncommitted credit lines, and we can issue up to $2 billion of commercial paper. The uncommitted credit lines aggregated $1.17 billion and $1.16 billion at March 31, 2016 and December 31, 2015 , respectively. There were no outstanding commercial paper issuances or borrowings under the Credit Facility or the uncommitted credit lines at March 31, 2016 and December 31, 2015 . Available and unused credit lines at March 31, 2016 and December 31, 2015 were (in millions): 2016 2015 Credit Facility $ 2,500.0 $ 2,500.0 Uncommitted credit lines 1,169.7 1,157.7 Available and unused credit lines $ 3,669.7 $ 3,657.7 The Credit Facility contains financial covenants that require us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA of no more than 3 times for the most recently ended 12-month period (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 March 31, 2016 we were in compliance with these covenants as our Leverage Ratio was 2.1 times and our Interest Coverage Ratio was 11.9 times. The Credit Facility does not limit our ability to declare or pay dividends or repurchase our common stock. Short-Term Debt Short-term debt at March 31, 2016 and December 31, 2015 of $38.8 million and $5.2 million , respectively, represents bank overdrafts and short-term borrowings of our international subsidiaries. Due to the short-term nature of this debt, carrying value approximates fair value. Long-Term Debt Long-term debt at March 31, 2016 and December 31, 2015 was (in millions): 2016 2015 5.9% Senior Notes due 2016 $ 1,000.0 $ 1,000.0 6.25% Senior Notes due 2019 500.0 500.0 4.45% Senior Notes due 2020 1,000.0 1,000.0 3.625% Senior Notes due 2022 1,250.0 1,250.0 3.65% Senior Notes due 2024 750.0 750.0 Other debt 0.3 0.3 4,500.3 4,500.3 Unamortized premium (discount) on senior notes, net 9.9 10.1 Debt issuance costs (16.0 ) (16.9 ) Adjustment to carrying value for interest rate swaps 118.7 72.1 Total Debt 4,612.9 4,565.6 Current portion (1,000.2 ) (1,001.4 ) Long-term debt $ 3,612.7 $ 3,564.2 On April 6, 2016, we issued $1.4 billion principal amount of 3.60% Senior Notes due April 15, 2026 (“2026 Notes”). The net proceeds received by us, after deducting the underwriting discount and estimated offering expenses, were $1.387 billion . A portion of the net proceeds were used to retire our outstanding $1 billion 5.9% Senior Notes due 2016 (“2016 Notes”) at maturity on April 15, 2016. On March 28, 2016 , we settled the outstanding forward-starting interest rate swap, which was entered into in connection with the refinancing of the 2016 Notes, for $54.5 million , which was paid to the counterparties on April 6, 2016. The settlement payment will be amortized to interest expense over the term of the 2026 Notes resulting in an effective interest rate on the 2026 Notes of approximately 4.1% . At March 31, 2016, we recorded a liability of $54.5 million , which is included in other current liabilities, and the related loss of $31.8 million , net of income taxes, in other comprehensive income. On January 19, 2016 , we terminated the $1 billion interest rate swap on our 3.625% Senior Notes due 2022 (“2022 Notes”) and realized a gain of $54.2 million . The gain will be amortized to interest expense over the remaining term of the 2022 Notes. In connection with the $750 million interest rate swap on the 3.65% Senior Notes due 2024 (“2024 Notes”) at March 31, 2016 , we recorded a receivable, which is included in other assets, of $20.2 million and at December 31, 2015 , we recorded a liability, which was included in long-term liabilities of $10.0 million . The asset and liability represent the fair value of the swap that was substantially offset by the change in the carrying value of the 2024 Notes due to the change in fair value of the notes. Accordingly, any hedge ineffectiveness was not material to our results of operations. On April 6, 2016, in connection with the issuance of the 2026 Notes, we entered into a $500 million notional amount fixed-to-floating interest rate swap. The swap hedges the risk of changes in fair value of a portion of the notes attributable to changes in the benchmark LIBOR interest rate. We will receive fixed interest rate payments equal to the coupon interest rate on the notes and will pay a variable interest rate equal to three month LIBOR, plus a spread of 1.982% . The swap qualifies and is designated as a fair value hedge on the 2026 Notes. Gains and losses attributed to changes in the fair value of the swap are expected to substantially offset changes in the fair value of the notes attributed to changes in the benchmark interest rate. The net interest settlement is recorded in interest expense. As of April 6, 2016, the total aggregate principal amount of our fixed rate senior notes was $4.9 billion and the total notional amount of the fixed-to-floating interest rate swaps was $1.25 billion .

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our five branded agency networks operate in the advertising, marketing and corporate communications services industry, and are organized into agency networks, virtual client networks, regional reporting units and operating groups. Our networks, virtual client networks and agencies increasingly share clients and provide clients with integrated services. 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. The agency networks' regional reporting units comprise three principal regions; the Americas, EMEA and Asia Pacific. The regional reporting units monitor the performance and are responsible for the agencies in their region. Agencies within the regional reporting units serve similar clients in similar industries and in many cases the same clients and have similar economic characteristics. Revenue and long-lived assets and goodwill by geographic region as of and for the three months ended March 31, 2016 and 2015 were (in millions): Americas EMEA Asia Pacific 2016 Revenue $ 2,198.5 $ 946.3 $ 354.3 Long-lived assets and goodwill 6,435.2 2,756.5 542.6 2015 Revenue $ 2,151.0 $ 961.4 $ 356.8 Long-lived assets and goodwill 6,136.3 2,635.6 549.4 The Americas comprises North America, which includes the United States, Canada and Puerto Rico, and Latin America, which includes Mexico. EMEA comprises the United Kingdom, the Euro currency countries, other European countries that have not adopted the European Union Monetary standard, the Middle East and Africa. Asia Pacific comprises Australia, China, India, Japan, Korea, New Zealand, Singapore and other Asian countries. Revenue in the United States for the three months ended March 31, 2016 and 2015 was $2,007.6 million and $1,958.2 million , respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	Income Taxes Our effective tax rate remained flat period-over-period at 32.8% . At March 31, 2016 , our unrecognized tax benefits were $109.1 million . Of this amount, approximately $52.2 million would affect our effective tax rate upon resolution of the uncertain tax positions.

Pension and Other Postemploymen

Pension and Other Postemployment Benefits	3 Months Ended
	Mar. 31, 2016
Pension and Other Postemployment Benefits [Abstract]
Pension and Other Postemployment Benefits	Pension and Other Postemployment Benefits Defined Benefit Pension Plans The components of net periodic benefit cost for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 Service cost $ 2.0 $ 1.2 Interest cost 1.7 1.7 Expected return on plan assets (0.7 ) (0.7 ) Amortization of prior service cost 1.1 1.1 Amortization of actuarial (gains) losses 1.2 1.4 $ 5.3 $ 4.7 We contributed $0.5 million and $0.4 million to our defined benefit pension plans in the three months ended March 31, 2016 and 2015 , respectively. Postemployment Arrangements The components of net periodic benefit cost for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 Service cost $ 1.0 $ 1.2 Interest cost 0.9 1.1 Amortization of prior service cost 0.7 0.8 Amortization of actuarial (gains) losses 0.3 0.4 $ 2.9 $ 3.5

Supplemental Cash Flow Data

Supplemental Cash Flow Data	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Data [Abstract]
Supplemental Cash Flow Data	Supplemental Cash Flow Data The change in operating capital for the three months ended March 31, 2016 and 2015 was (in millions): 2016 2015 (Increase) decrease in accounts receivable $ 1,019.0 $ 467.3 (Increase) decrease in work in process and other current assets (329.7 ) (336.8 ) Increase (decrease) in accounts payable (1,551.7 ) (697.8 ) Increase (decrease) in customer advances and other current liabilities (23.9 ) 26.1 Change in other assets and liabilities, net 79.2 (18.3 ) Cash used for operating capital $ (807.1 ) $ (559.5 ) Income taxes paid $ 135.5 $ 144.3 Interest paid $ 41.5 $ 35.2

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2016
Commitments and Contingent Liabilities [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent Liabilities In the ordinary course of business, we are involved in various legal proceedings. We do not presently expect that these proceedings will have a material adverse effect on our results of operations or financial position.

Changes in Accumulated Other Co

Changes in Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2016
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 three months ended March 31, 2016 and 2015 were (in millions): 2016 Unamortized Loss on Cash Flow Hedge Unrealized Loss on Available-for-Sale Securities Defined Benefit Pension and Postemployment Plans Foreign Currency Translation Total January 1 $ (3.3 ) $ (0.9 ) $ (87.9 ) $ (923.3 ) $ (1,015.4 ) Other comprehensive income (loss) before reclassifications (28.5 ) — — 92.3 63.8 Amounts reclassified (to) from accumulated other comprehensive income (loss) — — 2.3 — 2.3 Other comprehensive income (loss) (28.5 ) — 2.3 92.3 66.1 March 31 $ (31.8 ) $ (0.9 ) $ (85.6 ) $ (831.0 ) $ (949.3 ) 2015 January 1 $ — $ (1.2 ) $ (92.1 ) $ (524.9 ) $ (618.2 ) Other comprehensive income (loss) before reclassifications (2.5 ) 0.2 — (318.4 ) (320.7 ) Amounts reclassified (to) from accumulated other comprehensive income (loss) — — 2.2 — 2.2 Other comprehensive income (loss) (2.5 ) 0.2 2.2 (318.4 ) (318.5 ) March 31 $ (2.5 ) $ (1.0 ) $ (89.9 ) $ (843.3 ) $ (936.7 ) On March 28, 2016, we settled the cash flow hedge at a loss of $54.5 million , $31.8 million net of income taxes, which was paid on April 6, 2016. The loss will be amortized to interest expense over the term of the 2026 Notes beginning in April 2016 (See Note 5). Reclassifications from accumulated other comprehensive income (loss) for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 Amortization of defined benefit pension and postemployment plans: Prior service cost $ 1.8 $ 1.9 Actuarial (gains) losses 1.5 1.8 Net periodic benefit cost (see Note 8) 3.3 3.7 Income taxes 1.0 1.5 Periodic benefit cost, net of income tax $ 2.3 $ 2.2

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2016
Fair Value [Abstract]
Fair Value	Fair Value Financial assets and liabilities measured at fair value on a recurring basis at March 31, 2016 and December 31, 2015 were (in millions): 2016 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 1,747.3 $ 1,747.3 Short-term investments 2.7 2.7 Available-for-sale securities 4.8 4.8 Interest rate and foreign currency derivative instruments $ 20.4 20.4 Liabilities: Interest rate and foreign currency derivative instruments $ 55.2 $ 55.2 Contingent purchase price obligations $ 424.1 424.1 2015 Assets: Cash and cash equivalents $ 2,605.2 $ 2,605.2 Short-term investments 14.5 14.5 Available-for-sale securities 4.8 4.8 Interest rate and foreign currency derivative instruments $ 32.4 32.4 Liabilities: Interest rate and foreign currency derivative instruments $ 15.9 $ 15.9 Contingent purchase price obligations $ 322.0 322.0 The changes in Level 3 contingent purchase price obligations for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 January 1 $ 322.0 $ 300.7 Acquisitions 102.5 46.3 Revaluation and interest 12.3 2.2 Payments (22.7 ) (1.8 ) Foreign currency translation 10.0 (14.9 ) March 31 $ 424.1 $ 332.5 The carrying amount and fair value of our financial instruments at March 31, 2016 and December 31, 2015 were (in millions): 2016 2015 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 1,747.3 $ 1,747.3 $ 2,605.2 $ 2,605.2 Short-term investments 2.7 2.7 14.5 14.5 Available-for-sale securities 4.8 4.8 4.8 4.8 Interest rate and foreign currency derivative instruments 20.4 20.4 32.4 32.4 Cost method investments 14.2 14.2 21.5 21.5 Liabilities: Short-term debt $ 38.8 $ 38.8 $ 5.2 $ 5.2 Interest rate and foreign currency derivative instruments 55.2 55.2 15.9 15.9 Contingent purchase price obligations 424.1 424.1 322.0 322.0 Long-term debt, including current portion 4,612.9 4,744.1 4,565.6 4,655.9 The estimated fair value of the foreign currency and interest rate derivative instruments is determined using model-derived valuations, taking into consideration foreign currency rates for the foreign currency derivatives and readily observable inputs for LIBOR interest rates and yield curves to derive the present value of the future cash flows for the interest rate swap derivatives and counterparty credit risk for each. The estimated fair value of the contingent purchase price obligations is calculated in accordance with the terms of each acquisition agreement and is discounted. The fair value of debt is based on quoted market prices.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
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, other than the events discussed in Note 5, that have occurred that would require adjustment to or disclosure in the consolidated financial statements.

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2016
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 months ended March 31, 2016 and 2015 were (in millions, except per share amounts): 2016 2015 Net Income Available for Common Shares: Net income - Omnicom Group Inc. $ 218.4 $ 209.1 Net income allocated to participating securities (1.5 ) (2.8 ) $ 216.9 $ 206.3 Weighted Average Shares: Basic 240.0 246.4 Dilutive stock options and restricted shares 1.1 1.0 Diluted 241.1 247.4 Anti-dilutive stock options and restricted shares 0.1 0.1 Net Income per Common Share - Omnicom Group Inc.: Basic $ 0.90 $ 0.84 Diluted $ 0.90 $ 0.83

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and intangible assets at March 31, 2016 and December 31, 2015 were (in millions): 2016 2015 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Goodwill $ 9,577.8 $ (533.6 ) $ 9,044.2 $ 9,205.7 $ (529.3 ) $ 8,676.4 Intangible assets: Purchased and internally developed software $ 329.1 $ (254.8 ) $ 74.3 $ 310.5 $ (239.9 ) $ 70.6 Customer related and other 788.9 (462.2 ) 326.7 715.0 (440.8 ) 274.2 $ 1,118.0 $ (717.0 ) $ 401.0 $ 1,025.5 $ (680.7 ) $ 344.8
Changes in Goodwill	Changes in goodwill for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 January 1 $ 8,676.4 $ 8,822.2 Acquisitions 121.2 18.5 Noncontrolling interests in acquired businesses 51.8 1.8 Contingent purchase price of acquired businesses 98.4 44.8 Foreign currency translation and other 96.4 (247.5 ) March 31 $ 9,044.2 $ 8,639.8

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Available and Unused Lines of Credit	Available and unused credit lines at March 31, 2016 and December 31, 2015 were (in millions): 2016 2015 Credit Facility $ 2,500.0 $ 2,500.0 Uncommitted credit lines 1,169.7 1,157.7 Available and unused credit lines $ 3,669.7 $ 3,657.7
Long-Term Notes Payable	Long-term debt at March 31, 2016 and December 31, 2015 was (in millions): 2016 2015 5.9% Senior Notes due 2016 $ 1,000.0 $ 1,000.0 6.25% Senior Notes due 2019 500.0 500.0 4.45% Senior Notes due 2020 1,000.0 1,000.0 3.625% Senior Notes due 2022 1,250.0 1,250.0 3.65% Senior Notes due 2024 750.0 750.0 Other debt 0.3 0.3 4,500.3 4,500.3 Unamortized premium (discount) on senior notes, net 9.9 10.1 Debt issuance costs (16.0 ) (16.9 ) Adjustment to carrying value for interest rate swaps 118.7 72.1 Total Debt 4,612.9 4,565.6 Current portion (1,000.2 ) (1,001.4 ) Long-term debt $ 3,612.7 $ 3,564.2

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
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 months ended March 31, 2016 and 2015 were (in millions): Americas EMEA Asia Pacific 2016 Revenue $ 2,198.5 $ 946.3 $ 354.3 Long-lived assets and goodwill 6,435.2 2,756.5 542.6 2015 Revenue $ 2,151.0 $ 961.4 $ 356.8 Long-lived assets and goodwill 6,136.3 2,635.6 549.4

Pension and Other Postemploym25

Pension and Other Postemployment Benefits (Tables)	3 Months Ended
	Mar. 31, 2016
Defined Benefit Pension Plans [Member]
Components of Net Periodic Benefit Cost	Defined Benefit Pension Plans The components of net periodic benefit cost for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 Service cost $ 2.0 $ 1.2 Interest cost 1.7 1.7 Expected return on plan assets (0.7 ) (0.7 ) Amortization of prior service cost 1.1 1.1 Amortization of actuarial (gains) losses 1.2 1.4 $ 5.3 $ 4.7
Postemployment Arrangements [Member]
Components of Net Periodic Benefit Cost	Postemployment Arrangements The components of net periodic benefit cost for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 Service cost $ 1.0 $ 1.2 Interest cost 0.9 1.1 Amortization of prior service cost 0.7 0.8 Amortization of actuarial (gains) losses 0.3 0.4 $ 2.9 $ 3.5

Supplemental Cash Flow Data (Ta

Supplemental Cash Flow Data (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Data [Abstract]
Change in Operating Capital	The change in operating capital for the three months ended March 31, 2016 and 2015 was (in millions): 2016 2015 (Increase) decrease in accounts receivable $ 1,019.0 $ 467.3 (Increase) decrease in work in process and other current assets (329.7 ) (336.8 ) Increase (decrease) in accounts payable (1,551.7 ) (697.8 ) Increase (decrease) in customer advances and other current liabilities (23.9 ) 26.1 Change in other assets and liabilities, net 79.2 (18.3 ) Cash used for operating capital $ (807.1 ) $ (559.5 ) Income taxes paid $ 135.5 $ 144.3 Interest paid $ 41.5 $ 35.2

Changes in Accumulated Other 27

Changes in Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
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 three months ended March 31, 2016 and 2015 were (in millions): 2016 Unamortized Loss on Cash Flow Hedge Unrealized Loss on Available-for-Sale Securities Defined Benefit Pension and Postemployment Plans Foreign Currency Translation Total January 1 $ (3.3 ) $ (0.9 ) $ (87.9 ) $ (923.3 ) $ (1,015.4 ) Other comprehensive income (loss) before reclassifications (28.5 ) — — 92.3 63.8 Amounts reclassified (to) from accumulated other comprehensive income (loss) — — 2.3 — 2.3 Other comprehensive income (loss) (28.5 ) — 2.3 92.3 66.1 March 31 $ (31.8 ) $ (0.9 ) $ (85.6 ) $ (831.0 ) $ (949.3 ) 2015 January 1 $ — $ (1.2 ) $ (92.1 ) $ (524.9 ) $ (618.2 ) Other comprehensive income (loss) before reclassifications (2.5 ) 0.2 — (318.4 ) (320.7 ) Amounts reclassified (to) from accumulated other comprehensive income (loss) — — 2.2 — 2.2 Other comprehensive income (loss) (2.5 ) 0.2 2.2 (318.4 ) (318.5 ) March 31 $ (2.5 ) $ (1.0 ) $ (89.9 ) $ (843.3 ) $ (936.7 )
Reclassifications from accumulated other comprehensive income (loss)	Reclassifications from accumulated other comprehensive income (loss) for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 Amortization of defined benefit pension and postemployment plans: Prior service cost $ 1.8 $ 1.9 Actuarial (gains) losses 1.5 1.8 Net periodic benefit cost (see Note 8) 3.3 3.7 Income taxes 1.0 1.5 Periodic benefit cost, net of income tax $ 2.3 $ 2.2

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 were (in millions): 2016 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 1,747.3 $ 1,747.3 Short-term investments 2.7 2.7 Available-for-sale securities 4.8 4.8 Interest rate and foreign currency derivative instruments $ 20.4 20.4 Liabilities: Interest rate and foreign currency derivative instruments $ 55.2 $ 55.2 Contingent purchase price obligations $ 424.1 424.1 2015 Assets: Cash and cash equivalents $ 2,605.2 $ 2,605.2 Short-term investments 14.5 14.5 Available-for-sale securities 4.8 4.8 Interest rate and foreign currency derivative instruments $ 32.4 32.4 Liabilities: Interest rate and foreign currency derivative instruments $ 15.9 $ 15.9 Contingent purchase price obligations $ 322.0 322.0
Changes in Level 3 Contingent Purchase Price Obligations	The changes in Level 3 contingent purchase price obligations for the three months ended March 31, 2016 and 2015 were (in millions): 2016 2015 January 1 $ 322.0 $ 300.7 Acquisitions 102.5 46.3 Revaluation and interest 12.3 2.2 Payments (22.7 ) (1.8 ) Foreign currency translation 10.0 (14.9 ) March 31 $ 424.1 $ 332.5
Carrying Amounts and Fair Value of Financial Instruments	The carrying amount and fair value of our financial instruments at March 31, 2016 and December 31, 2015 were (in millions): 2016 2015 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 1,747.3 $ 1,747.3 $ 2,605.2 $ 2,605.2 Short-term investments 2.7 2.7 14.5 14.5 Available-for-sale securities 4.8 4.8 4.8 4.8 Interest rate and foreign currency derivative instruments 20.4 20.4 32.4 32.4 Cost method investments 14.2 14.2 21.5 21.5 Liabilities: Short-term debt $ 38.8 $ 38.8 $ 5.2 $ 5.2 Interest rate and foreign currency derivative instruments 55.2 55.2 15.9 15.9 Contingent purchase price obligations 424.1 424.1 322.0 322.0 Long-term debt, including current portion 4,612.9 4,744.1 4,565.6 4,655.9

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net Income Available for Common Shares:
Net income - Omnicom Group Inc.	$ 218.4	$ 209.1
Net income allocated to participating securities	(1.5)	(2.8)
Net income available for common shares	$ 216.9	$ 206.3
Weighted Average Shares:
Basic	240	246.4
Dilutive stock options and restricted shares	1.1	1
Diluted	241.1	247.4
Anti-dilutive stock options and restricted shares	0.1	0.1
Net Income per Common Share - Omnicom Group Inc.:
Basic	$ 0.90	$ 0.84
Diluted	$ 0.90	$ 0.83

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2016	Dec. 31, 2015
Goodwill, Gross Carrying Value			$ 9,577.8	$ 9,205.7
Goodwill, Accumulated Amortization			(533.6)	(529.3)
Goodwill, Net Carrying Value	$ 8,676.4	$ 8,822.2	9,044.2	8,676.4
Intangible assets:, Gross Carrying Value			1,118	1,025.5
Intangible assets:, Accumulated Amortization			(717)	(680.7)
Intangible assets:, Net Carrying Value			401	344.8
Goodwill [Roll Forward]
Goodwill, January 1	8,676.4	8,822.2
Goodwill, Acquisitions	121.2	18.5
Goodwill, Noncontrolling interests in acquired businesses	51.8	1.8
Goodwill, Contingent purchase price of acquired businesses	98.4	44.8
Goodwill, Foreign currency translation and other	96.4	(247.5)
Goodwill, March 31	9,044.2	$ 8,639.8
Goodwill, impairment losses	$ 0
Goodwill, accumulated impairment losses			0
Purchased and internally developed software
Intangible assets:, Gross Carrying Value			329.1	310.5
Intangible assets:, Accumulated Amortization			(254.8)	(239.9)
Intangible assets:, Net Carrying Value			74.3	70.6
Customer related and other
Intangible assets:, Gross Carrying Value			788.9	715
Intangible assets:, Accumulated Amortization			(462.2)	(440.8)
Intangible assets:, Net Carrying Value			$ 326.7	$ 274.2

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Apr. 15, 2016	Apr. 06, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014
Lines of Credit [Abstract]
Available and unused credit lines			$ 3,669.7		$ 3,657.7
Short-Term Borrowings [Abstract]
Short-term debt			38.8		5.2
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			4,500.3		4,500.3
Unamortized premium (discount) on senior notes, net			9.9		10.1
Debt issuance costs			(16)		(16.9)
Adjustment to carrying value for interest rate swaps			118.7		72.1
Long-term notes payable, total			4,612.9		4,565.6
Long-term notes payable, current portion			(1,000.2)		(1,001.4)
Long-Term Debt			3,612.7		3,564.2
Accumulated other comprehensive income (loss)			(949.3)	$ (936.7)	(1,015.4)	$ (618.2)
Interest rate swaps, gain on termination			$ 54.2	0
Current Fiscal Year End Date			--12-31
Subsequent Event [Member]
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount		$ 4,900
Unamortized Loss on Cash Flow Hedge
Long-Term Notes Payable [Abstract]
Accumulated other comprehensive income (loss)			$ (31.8)	$ (2.5)	(3.3)	$ 0
Cash Flow Hedge [Member]
Long-Term Notes Payable [Abstract]
Interest rate swaps, liability, at fair value			54.5
Accumulated other comprehensive income (loss)			(31.8)
Interest Rate Swap [Member] | Subsequent Event [Member]
Long-Term Notes Payable [Abstract]
Interest rate swaps, notional amount		1,250
Interest Rate Swaps on 2022 Notes [Member]
Long-Term Notes Payable [Abstract]
Interest rate swaps, notional amount					1,000
Interest rate swaps, gain on termination			54.2
Interest Rate Swaps on 2024 Notes [Member]
Long-Term Notes Payable [Abstract]
Interest rate swaps, asset, at fair value			20.2
Interest rate swaps, liability, at fair value					10
Interest rate swaps, notional amount			750
Interest Rate Swaps on 2026 Notes [Member] | Subsequent Event [Member]
Long-Term Notes Payable [Abstract]
Interest rate swaps, notional amount		$ 500
Interest Rate Swaps on 2026 Notes [Member] | LIBOR [Member] | Subsequent Event [Member]
Long-Term Notes Payable [Abstract]
Interest rate swaps, spread		1.982%
Credit Facility [Member]
Lines of Credit [Abstract]
Credit Agreement, maximum borrowing capacity			$ 2,500
Credit Agreement, expiration date			Jul. 31, 2020
Available and unused credit lines			$ 2,500		2,500
Credit Agreement, covenant terms			The Credit Facility contains financial covenants that require us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA of no more than 3 times for the most recently ended 12-month period (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 March 31, 2016 we were in compliance with these covenants as our Leverage Ratio was 2.1 times and our Interest Coverage Ratio was 11.9 times.
Commercial Paper [Member]
Lines of Credit [Abstract]
Credit Agreement, maximum borrowing capacity			$ 2,000
Uncommitted lines of credit [Member]
Lines of Credit [Abstract]
Available and unused credit lines			1,169.7		1,157.7
5.9% Senior Notes due 2016
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			$ 1,000		1,000
Long-term debt, interest rate			5.90%
Long-term debt, maturity date			Apr. 15, 2016
5.9% Senior Notes due 2016 | Subsequent Event [Member]
Long-Term Notes Payable [Abstract]
Long-term debt, repayments	$ 1,000
6.25% Senior Notes due 2019
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			$ 500		500
Long-term debt, interest rate			6.25%
Long-term debt, maturity date			Jul. 15, 2019
4.45% Senior Notes due 2020
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			$ 1,000		1,000
Long-term debt, interest rate			4.45%
Long-term debt, maturity date			Aug. 15, 2020
3.625% Senior Notes due 2022
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			$ 1,250		1,250
Long-term debt, interest rate			3.625%
Long-term debt, maturity date			May 1, 2022
3.65% Senior Notes due 2024
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			$ 750		750
Long-term debt, interest rate			3.65%
Long-term debt, maturity date			Nov. 1, 2024
3.60% Senior Notes due 2026 | Subsequent Event [Member]
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount		$ 1,400
Long-term debt, interest rate		3.60%
Long-term debt, maturity date		Apr. 15, 2026
Long-term debt, proceeds from issuance		$ 1,387
Debt Instrument, Interest Rate, Effective Percentage		4.10%
Other debt
Long-Term Notes Payable [Abstract]
Long-term debt, carrying amount			$ 0.3		$ 0.3

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue	$ 3,499.1	$ 3,469.2
Americas
Revenue	2,198.5	2,151
Long-lived assets and goodwill	6,435.2	6,136.3
UNITED STATES
Revenue	2,007.6	1,958.2
EMEA
Revenue	946.3	961.4
Long-lived assets and goodwill	2,756.5	2,635.6
Asia Pacific
Revenue	354.3	356.8
Long-lived assets and goodwill	$ 542.6	$ 549.4

Income Taxes (Details)

Income Taxes (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)Rate
Income Taxes [Abstract]
Effective tax rate | Rate	32.80%
Unrecognized tax benefits	$ 109.1
Unrecognized tax benefits that would impact effective tax rate	$ 52.2

Pension and Other Postemploym34

Pension and Other Postemployment Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Defined Benefit Pension Plans [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	$ 2	$ 1.2
Interest cost	1.7	1.7
Expected return on plan assets	(0.7)	(0.7)
Amortization of prior service cost	1.1	1.1
Amortization of actuarial (gains) losses	1.2	1.4
Net periodic benefit cost	5.3	4.7
Defined benefit pension plans, contributions by employer	0.5	0.4
Postemployment Arrangements [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	1	1.2
Interest cost	0.9	1.1
Amortization of prior service cost	0.7	0.8
Amortization of actuarial (gains) losses	0.3	0.4
Net periodic benefit cost	$ 2.9	$ 3.5

Supplemental Cash Flow Data (De

Supplemental Cash Flow Data (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Change in Operating Capital [Abstract]
(Increase) decrease in accounts receivable	$ 1,019	$ 467.3
(Increase) decrease in work in process and other current assets	(329.7)	(336.8)
Increase (decrease) in accounts payable	(1,551.7)	(697.8)
Increase (decrease) in customer advances and other current liabilities	(23.9)	26.1
Change in other assets and liabilities, net	79.2	(18.3)
Change in operating capital	(807.1)	(559.5)
Income taxes paid	135.5	144.3
Interest paid	$ 41.5	$ 35.2

Changes in Accumulated Other 36

Changes in Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	$ (1,015.4)	$ (618.2)
Other comprehensive income (loss) before reclassifications	63.8	(320.7)
Amounts reclassified (to) from accumulated other comprehensive income (loss)	2.3	2.2
Other comprehensive income (loss)	66.1	(318.5)
March 31	(949.3)	(936.7)
Unamortized Loss on Cash Flow Hedge
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(3.3)	0
Other comprehensive income (loss) before reclassifications	(28.5)	(2.5)
Amounts reclassified (to) from accumulated other comprehensive income (loss)	0	0
Other comprehensive income (loss)	(28.5)	(2.5)
March 31	(31.8)	(2.5)
Accumulated other comprehensive loss, before tax	54.5
Unrealized Loss on Available-for-Sale Securities
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(0.9)	(1.2)
Other comprehensive income (loss) before reclassifications	0	0.2
Amounts reclassified (to) from accumulated other comprehensive income (loss)	0	0
Other comprehensive income (loss)	0	0.2
March 31	(0.9)	(1)
Defined Benefit Pension and Postemployment Plans
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(87.9)	(92.1)
Other comprehensive income (loss) before reclassifications	0	0
Amounts reclassified (to) from accumulated other comprehensive income (loss)	2.3	2.2
Other comprehensive income (loss)	2.3	2.2
March 31	(85.6)	(89.9)
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	1.8	1.9
Actuarial (gains) losses	1.5	1.8
Net periodic benefit cost (see Note 8)	3.3	3.7
Income taxes	1	1.5
Periodic benefit cost, net of income tax	2.3	2.2
Foreign Currency Translation
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(923.3)	(524.9)
Other comprehensive income (loss) before reclassifications	92.3	(318.4)
Amounts reclassified (to) from accumulated other comprehensive income (loss)	0	0
Other comprehensive income (loss)	92.3	(318.4)
March 31	$ (831)	$ (843.3)

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Assets:
Cash and cash equivalents	$ 1,747.3		$ 2,605.2
Short-term investments	2.7		14.5
Available-for-sale securities	4.8		4.8
Interest rate and foreign currency derivative instruments	20.4		32.4
Cost method investments	14.2		21.5
Liabilities:
Short-term debt	38.8		5.2
Interest rate and foreign currency derivative instruments	55.2		15.9
Contingent purchase price obligations	424.1		322
Long-term debt, including current portion	4,744.1		4,655.9
Carrying Amount
Assets:
Cash and cash equivalents	1,747.3		2,605.2
Short-term investments	2.7		14.5
Available-for-sale securities	4.8		4.8
Interest rate and foreign currency derivative instruments	20.4		32.4
Cost method investments	14.2		21.5
Liabilities:
Short-term debt	38.8		5.2
Interest rate and foreign currency derivative instruments	55.2		15.9
Contingent purchase price obligations	424.1		322
Long-term debt, including current portion	4,612.9		4,565.6
Contingent purchase price obligations
Changes in Level 3 Contingent Purchase Price Obligations [Roll Forward]
January 1	322	$ 300.7
Acquisitions	102.5	46.3
Revaluation and interest	12.3	2.2
Payments	(22.7)	(1.8)
Foreign currency translation	10	(14.9)
March 31	424.1	$ 332.5
Fair Value, Measurements, Recurring [Member]
Assets:
Cash and cash equivalents	1,747.3		2,605.2
Short-term investments	2.7		14.5
Available-for-sale securities	4.8		4.8
Interest rate and foreign currency derivative instruments	20.4		32.4
Liabilities:
Interest rate and foreign currency derivative instruments	55.2		15.9
Contingent purchase price obligations	424.1		322
Fair Value, Measurements, Recurring [Member] | Level 1
Assets:
Cash and cash equivalents	1,747.3		2,605.2
Short-term investments	2.7		14.5
Available-for-sale securities	4.8		4.8
Fair Value, Measurements, Recurring [Member] | Level 2
Assets:
Interest rate and foreign currency derivative instruments	20.4		32.4
Liabilities:
Interest rate and foreign currency derivative instruments	55.2		15.9
Fair Value, Measurements, Recurring [Member] | Level 3
Liabilities:
Contingent purchase price obligations	$ 424.1		$ 322