Omnicom (OMC) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 01, 2017
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, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		232,744,011

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Dec. 31, 2015
Current Assets:
Cash and cash equivalents	$ 2,442.2	$ 3,002.2		$ 2,605.2
Short-term investments, at cost	43.6	20.6
Accounts receivable, net of allowance for doubtful accounts of $26.5 and $24.9	6,796.8	7,510.8
Work in process	1,349.7	1,125.4
Other current assets	1,096.5	1,063
Total Current Assets	11,728.8	12,722
Property and Equipment at cost, less accumulated depreciation of $1,252.5 and $1,233.4	678.2	674.8
Equity Method Investments	117.7	120.4
Goodwill	9,075.2	8,976.1		8,676.4
Intangible Assets, net of accumulated amortization of $806.3 and $777.6	414.1	427.4
Other Assets	223.3	244.7
TOTAL ASSETS	22,237.3	23,165.4
Current Liabilities:
Accounts payable	9,453.5	10,476.7
Customer advances	1,176.6	1,186.6
Current portion of debt	0	0.1
Short-term debt	28.6	28.7
Taxes payable	391.8	349.6
Other current liabilities	2,019.6	1,969.2
Total Current Liabilities	13,070.1	14,010.9
Long-Term Debt	4,914.5	4,920.5
Long-Term Liabilities	936.8	892.3
Deferred Tax Liabilities	458.3	480.5
Commitments and Contingent Liabilities (See Note 10)
Temporary Equity - Redeemable Noncontrolling Interests	191.1	201.6
Shareholders’ Equity:
Preferred stock	0	0
Common stock	44.6	44.6
Additional paid-in capital	823.9	798.3
Retained earnings	5,758.2	5,677.2
Accumulated other comprehensive income (loss)	(1,253.1)	(1,356)		$ (1,015.4)
Treasury stock, at cost	(3,239)	(3,002.1)
Total Shareholders’ Equity	2,134.6	2,162
Noncontrolling interests	531.9	497.6
Total Equity	2,666.5	2,659.6
TOTAL LIABILITIES AND EQUITY	$ 22,237.3	$ 23,165.4

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Allowance for doubtful accounts	$ 26.5	$ 24.9
Accumulated depreciation	1,252.5	1,233.4
Intangible assets, accumulated amortization	$ 806.3	$ 777.6

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 3,587.4	$ 3,499.1
Salary and service costs	2,694.2	2,623.3
Occupancy and other costs	302	301.4
Cost of services	2,996.2	2,924.7
Selling, general and administrative expenses	108.6	108.1
Depreciation and amortization	72.7	74.2
Operating Expenses	3,177.5	3,107
Operating Profit	409.9	392.1
Interest Expense	53.5	50.3
Interest Income	13.9	10.2
Income Before Income Taxes and Income (Loss) From Equity Method Investments	370.3	352
Income Tax Expense	108	115.5
Income (Loss) From Equity Method Investments	0.1	(0.2)
Net Income	262.4	236.3
Net Income Attributed To Noncontrolling Interests	20.6	17.9
Net Income - Omnicom Group Inc.	$ 241.8	$ 218.4
Net Income Per Share - Omnicom Group Inc.:
Basic	$ 1.03	$ 0.90
Diluted	1.02	0.90
Dividends Declared Per Common Share	$ 0.55	$ 0.50

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Income	$ 262.4	$ 236.3
Cash flow hedge:
Loss for the period	0	(48.9)
Amortization of loss included in interest expense	1.4	0
Income tax effect	(0.6)	20.4
Other comprehensive income	0.8	(28.5)
Defined benefit pension plans and postemployment arrangements:
Amortization of prior service cost included in periodic benefit expense	2	1.8
Amortization of actuarial losses included in periodic benefit expense	1.9	1.5
Income tax effect	(1.8)	(1)
Other comprehensive income	2.1	2.3
Available-for-sale securities:
Unrealized gain for the period	0.2	0
Income tax effect	(0.1)	0
Other comprehensive income	0.1	0
Foreign currency translation adjustment	114.7	113.1
Other Comprehensive Income	117.7	86.9
Comprehensive Income	380.1	323.2
Comprehensive Income Attributed To Noncontrolling Interests	35.4	38.7
Comprehensive Income - Omnicom Group Inc.	$ 344.7	$ 284.5

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net Income	$ 262.4	$ 236.3
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation	42.3	45.9
Amortization of intangible assets	30.4	28.3
Share-based compensation	19.3	23
Other, net	0.9	19.6
Increase (decrease) in operating capital	(550.6)	(807.1)
Net Cash Used In Operating Activities	(195.3)	(454)
Cash Flows from Investing Activities:
Capital expenditures	(32.1)	(41.4)
Acquisition of businesses and interests in affiliates, net of cash acquired	(19.2)	(86.6)
Sale of investments	6.1	11.7
Net Cash Used In Investing Activities	(45.2)	(116.3)
Cash Flows from Financing Activities:
Change in short-term debt	(1.4)	13.3
Dividends paid to common shareholders	(130.8)	(122.2)
Repurchases of common stock	(234.7)	(207.1)
Proceeds from stock plans	3.1	6.7
Acquisition of additional noncontrolling interests	(2.7)	(19.8)
Dividends paid to noncontrolling interest shareholders	(10.3)	(14.9)
Payment of contingent purchase price obligations	(2.1)	(8.2)
Other, net	(7.7)	(13.2)
Net Cash Used In Financing Activities	(386.6)	(365.4)
Effect of foreign exchange rate changes on cash and cash equivalents	67.1	77.8
Net Decrease in Cash and Cash Equivalents	(560)	(857.9)
Cash and Cash Equivalents at the Beginning of Period	3,002.2	2,605.2
Cash and Cash Equivalents at the End of Period	$ 2,442.2	$ 1,747.3

Presentation of Financial State

Presentation of Financial Statements	3 Months Ended
	Mar. 31, 2017
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 its 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, 2016 (“ 2016 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. Accounting Changes. On January 1, 2017, we adopted FASB Accounting Standards Update (“ASU”) 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (“ASU 2016-09”), which requires additional tax benefits and tax deficiencies related to share-based compensation be recorded in results of operations effective January 1, 2017, upon vesting of restricted stock awards or exercise of stock options. In the prior year, the tax benefits and deficiencies were recorded in additional paid-in capital. The additional tax benefit or deficiency is calculated as the difference between the grant date price of the award and the price of our common stock on the vesting or exercise date. As a result, we recognized an additional tax benefit of $12.4 million for the three months ended March 31, 2017 . ASU 2016-09 requires that cash flows related to the additional tax benefits or deficiencies be classified in operating activities. Accordingly, for the three months ended March 31, 2016 , we retrospectively adjusted the statement of cash flows to conform to the current year presentation, resulting in a decrease in net cash used in operating activities of $7.2 million and increase in net cash used in financing activities of $7.2 million . Further, ASU 2016-09 permits a policy election to either continue to estimate the number of awards that will be forfeited or to account for forfeitures as they occur. We elected to account for forfeitures as they occur. Accordingly, we recorded a cumulative catch-up adjustment to reduce opening retained earnings by $4.5 million reflecting the estimate of unvested awards at December 31, 2016 that are not expected to vest. On January 1, 2017, we adopted FASB ASU 2016-16, Income Taxes: Intra-Entity Transfers of Assets Other than Inventory , which requires that the income tax effects of intra-entity transfers of assets other than inventory are recognized when the transfer occurs. ASU 2016-16 is applied on a modified retrospective basis with a cumulative catch-up adjustment to opening retained earnings. The adoption of ASU 2016-16 did not have a material impact on our financial position or results of operations.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2017
New Accounting Standards [Abstract]
New Accounting Standards	New Accounting Standards In May 2014, the FASB issued 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. 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. We plan to apply ASU 2014-09 on January 1, 2018. Presently, we are not yet in a position to conclude on 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. 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 of revenue recognition for certain contract incentives compared to the current method. Additionally, in certain of our businesses we record revenue as a principal and include certain third-party pass-through and out-of-pocket costs, which are billed to clients in connection with our services, in revenue. In March 2016, the FASB issued further guidance on principal versus agent considerations. We are currently evaluating the impact of the principal versus agent guidance on our revenue and cost of services; however, we do not expect the change, if any, to have a material effect on our results of operations. ASU 2014-09 also includes additional disclosure requirements. Currently, we provide comprehensive revenue disclosures in Management's Discussion and Analysis of Financial Condition and Results of Operations. In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits (“ASU 2017-07”). ASU 2017-07 requires that the service cost component of periodic benefit cost is included in compensation cost and included in operating profit. All other components of net periodic benefit cost are presented separately from the service cost component and outside of operating profit. ASU 2017-07 will affect operating profit but will not have any effect on income before income taxes and equity method investments, net income or earnings per share. ASU 2017-07 is effective for annual and interim periods beginning January 1, 2018 and will be applied retrospectively to all periods presented.

Net Income per Common Share

Net Income per Common Share	3 Months Ended
	Mar. 31, 2017
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, 2017 and 2016 were (in millions, except per share amounts): 2017 2016 Net Income Available for Common Shares: Net income - Omnicom Group Inc. $ 241.8 $ 218.4 Net income allocated to participating securities (0.5 ) (1.5 ) $ 241.3 $ 216.9 Weighted Average Shares: Basic 234.6 240.0 Dilutive stock options and restricted shares 1.9 1.1 Diluted 236.5 241.1 Anti-dilutive stock options and restricted shares 1.0 0.1 Net Income per Common Share - Omnicom Group Inc.: Basic $ 1.03 $ 0.90 Diluted $ 1.02 $ 0.90

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and intangible assets at March 31, 2017 and December 31, 2016 were (in millions): 2017 2016 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Goodwill $ 9,584.3 $ (509.1 ) $ 9,075.2 $ 9,481.4 $ (505.3 ) $ 8,976.1 Intangible assets: Purchased and internally developed software $ 348.9 $ (280.5 ) $ 68.4 $ 342.6 $ (270.2 ) $ 72.4 Customer related and other 871.5 (525.8 ) 345.7 862.4 (507.4 ) 355.0 $ 1,220.4 $ (806.3 ) $ 414.1 $ 1,205.0 $ (777.6 ) $ 427.4 Changes in goodwill for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 January 1 $ 8,976.1 $ 8,676.4 Acquisitions 15.2 121.2 Noncontrolling interests in acquired businesses 13.7 51.8 Contingent purchase price obligations of acquired businesses 6.2 98.4 Foreign currency translation and other 64.0 96.4 March 31 $ 9,075.2 $ 9,044.2 Since our annual goodwill impairment test there have been no events that would have triggered a need for an interim impairment test.

Debt

Debt	3 Months Ended
	Mar. 31, 2017
Debt [Abstract]
Debt	Debt Credit Facilities At March 31, 2017 , our short-term liquidity sources include a $2.5 billion revolving credit facility (“Credit Facility”) that expires July 31, 2021 , domestic and international uncommitted credit lines, and the ability to issue up to $2 billion of commercial paper. The uncommitted credit lines aggregated $1.1 billion at both March 31, 2017 and December 31, 2016 . There were no outstanding commercial paper issuances or borrowings under the Credit Facility or the uncommitted credit lines at March 31, 2017 and December 31, 2016 . Available and unused credit lines at March 31, 2017 and December 31, 2016 were (in millions): 2017 2016 Credit Facility $ 2,500.0 $ 2,500.0 Uncommitted credit lines 1,140.0 1,132.0 Available and unused credit lines $ 3,640.0 $ 3,632.0 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, 2017 we were in compliance with these covenants as our Leverage Ratio was 2.2 times and our Interest Coverage Ratio was 10.9 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, 2017 and December 31, 2016 was $28.6 million and $28.7 million , respectively. The debt 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, 2017 and December 31, 2016 was (in millions): 2017 2016 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 3.60% Senior Notes due 2026 1,400.0 1,400.0 Other debt — 0.1 4,900.0 4,900.1 Unamortized premium (discount), net 7.3 7.6 Unamortized debt issuance costs (23.2 ) (24.2 ) Unamortized deferred gain from settlement of interest rate swaps 80.1 84.7 Fair value adjustment attributed to interest rate swaps (49.7 ) (47.6 ) 4,914.5 4,920.6 Current portion — (0.1 ) Long-term debt $ 4,914.5 $ 4,920.5 At March 31, 2017 , we recorded a long-term liability of $18.5 million in connection with the $750 million fixed-to-floating interest rate swap on our 3.65% Senior Notes due 2024 (“2024 Notes”) and a long-term liability of $31.2 million in connection with the $500 million fixed-to-floating interest rate swap on our 3.60% Senior Notes due 2026 (“2026 Notes”). The long-term liabilities represent the fair value of the swaps on the 2024 Notes and 2026 Notes, respectively, that was substantially offset by the change in the fair value of the notes. The fixed-to-floating interest rate swaps have the economic effect of converting our debt portfolio to approximately 75% fixed rate obligations and 25% floating rate obligations.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2017
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 occupancy and other 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 at and for the three months ended March 31, 2017 and 2016 were (in millions): Americas EMEA Asia Pacific 2017 Revenue $ 2,245.9 $ 966.5 $ 375.0 Long-lived assets and goodwill 6,673.8 2,544.3 535.3 2016 Revenue $ 2,198.5 $ 946.3 $ 354.3 Long-lived assets and goodwill 6,435.2 2,756.5 542.6 The Americas comprises North America, which includes the United States, Canada and Puerto Rico, and Latin America, which includes Mexico. EMEA comprises Europe, 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, 2017 and 2016 was $2,011.7 million and $2,007.6 million , respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Taxes [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the three months ended March 31, 2017 , decreased period-over-period to 29.2% from 32.8% . The decrease in the effective tax rate was primarily attributable to the recognition of an additional tax benefit from share-based compensation of $12.4 million resulting from the prospective adoption of ASU 2016-09 (see Note 1), which requires that additional tax benefits and deficiencies arising from share-based compensation be recognized in results of operations in the period when the awards vest or are exercised. In the prior year, the tax benefits and deficiencies were recorded in additional paid-in capital. At March 31, 2017 , our unrecognized tax benefits were $113.6 million . Of this amount, approximately $71.5 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, 2017
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 expense for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 Service cost $ 2.3 $ 2.0 Interest cost 1.8 1.7 Expected return on plan assets (0.7 ) (0.7 ) Amortization of prior service cost 1.1 1.1 Amortization of actuarial losses 1.6 1.2 $ 6.1 $ 5.3 We contributed $0.3 million and $0.5 million to our defined benefit pension plans in the three months ended March 31, 2017 and 2016 , respectively. Postemployment Arrangements The components of net periodic benefit expense for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 Service cost $ 1.1 $ 1.0 Interest cost 0.9 0.9 Amortization of prior service cost 0.9 0.7 Amortization of actuarial losses 0.3 0.3 $ 3.2 $ 2.9

Supplemental Cash Flow Data

Supplemental Cash Flow Data	3 Months Ended
	Mar. 31, 2017
Supplemental Cash Flow Data [Abstract]
Supplemental Cash Flow Data	Supplemental Cash Flow Data The increase (decrease) in operating capital for the three months ended March 31, 2017 and 2016 was (in millions): 2017 2016 (Increase) decrease in accounts receivable $ 779.5 $ 1,019.0 (Increase) decrease in work in process and other current assets (213.5 ) (329.7 ) Increase (decrease) in accounts payable (1,117.5 ) (1,551.7 ) Increase (decrease) in customer advances and other current liabilities (13.8 ) (23.9 ) Change in other assets and liabilities, net 14.7 79.2 $ (550.6 ) $ (807.1 ) Income taxes paid $ 64.8 $ 135.5 Interest paid $ 53.2 $ 41.5

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2017
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. In addition, in December 2016, two of our subsidiaries received subpoenas from the U.S. Department of Justice Antitrust Division concerning its ongoing investigation of video production and post-production practices in the advertising industry. The Company is fully cooperating with the investigation. While the ultimate effect of the investigation is inherently uncertain, we do not at this time believe that the investigation will have a material adverse effect on our results of operations or financial position. However, the ultimate resolution of these matters could be different from our current assessment and the differences could be material.

Equity

Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Equity	Equity Changes in accumulated other comprehensive income (loss), net of income taxes, for the three months ended March 31, 2017 and 2016 were (in millions): 2017 Cash Flow Hedge Available-for-Sale Securities Defined Benefit Pension Plans and Postemployment Arrangements Foreign Currency Translation Total January 1 $ (29.5 ) $ (0.8 ) $ (90.6 ) $ (1,235.1 ) $ (1,356.0 ) Other comprehensive income (loss) before reclassifications — 0.1 — 99.9 100.0 Reclassification from accumulated other comprehensive income (loss) 0.8 — 2.1 — 2.9 March 31 $ (28.7 ) $ (0.7 ) $ (88.5 ) $ (1,135.2 ) $ (1,253.1 ) 2016 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 Reclassification from accumulated other comprehensive income (loss) — — 2.3 — 2.3 March 31 $ (31.8 ) $ (0.9 ) $ (85.6 ) $ (831.0 ) $ (949.3 )

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2017
Fair Value [Abstract]
Fair Value	Fair Value Financial assets and liabilities measured at fair value on a recurring basis at March 31, 2017 and December 31, 2016 were (in millions): 2017 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 2,442.2 $ 2,442.2 Short-term investments 43.6 43.6 Available-for-sale securities 4.0 4.0 Interest rate and foreign currency derivative instruments $ 0.5 0.5 Liabilities: Interest rate and foreign currency derivative instruments $ 49.9 $ 49.9 Contingent purchase price obligations $ 406.6 406.6 2016 Assets: Cash and cash equivalents $ 3,002.2 $ 3,002.2 Short-term investments 20.6 20.6 Available-for-sale securities 4.3 4.3 Interest rate and foreign currency derivative instruments $ 0.2 0.2 Liabilities: Interest rate and foreign currency derivative instruments $ 48.9 $ 48.9 Contingent purchase price obligations $ 386.1 386.1 Changes in contingent purchase price obligations for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 January 1 $ 386.1 $ 322.0 Acquisitions 15.5 102.5 Revaluation and interest (0.9 ) 12.3 Payments (2.1 ) (22.7 ) Foreign currency translation 8.0 10.0 March 31 $ 406.6 $ 424.1 The carrying amount and fair value of our financial assets and liabilities at March 31, 2017 and December 31, 2016 were (in millions): 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 2,442.2 $ 2,442.2 $ 3,002.2 $ 3,002.2 Short-term investments 43.6 43.6 20.6 20.6 Available-for-sale securities 4.0 4.0 4.3 4.3 Interest rate and foreign currency derivative instruments 0.5 0.5 0.2 0.2 Cost method investments 13.9 13.9 14.2 14.2 Liabilities: Short-term debt $ 28.6 $ 28.6 $ 28.7 $ 28.7 Interest rate and foreign currency derivative instruments 49.9 49.9 48.9 48.9 Contingent purchase price obligations 406.6 406.6 386.1 386.1 Long-term debt, including current portion 4,914.5 5,066.8 4,920.6 5,035.1 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, 2017
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 the consolidated financial statements.

Net Income per Common Share (Ta

Net Income per Common Share (Tables)	3 Months Ended
	Mar. 31, 2017
Net Income per Common Share [Abstract]
Computations of Basic and Diluted Net Income per Common Share	The computations of basic and diluted net income per common share for the three months ended March 31, 2017 and 2016 were (in millions, except per share amounts): 2017 2016 Net Income Available for Common Shares: Net income - Omnicom Group Inc. $ 241.8 $ 218.4 Net income allocated to participating securities (0.5 ) (1.5 ) $ 241.3 $ 216.9 Weighted Average Shares: Basic 234.6 240.0 Dilutive stock options and restricted shares 1.9 1.1 Diluted 236.5 241.1 Anti-dilutive stock options and restricted shares 1.0 0.1 Net Income per Common Share - Omnicom Group Inc.: Basic $ 1.03 $ 0.90 Diluted $ 1.02 $ 0.90

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and intangible assets at March 31, 2017 and December 31, 2016 were (in millions): 2017 2016 Gross Carrying Value Accumulated Amortization Net Carrying Value Gross Carrying Value Accumulated Amortization Net Carrying Value Goodwill $ 9,584.3 $ (509.1 ) $ 9,075.2 $ 9,481.4 $ (505.3 ) $ 8,976.1 Intangible assets: Purchased and internally developed software $ 348.9 $ (280.5 ) $ 68.4 $ 342.6 $ (270.2 ) $ 72.4 Customer related and other 871.5 (525.8 ) 345.7 862.4 (507.4 ) 355.0 $ 1,220.4 $ (806.3 ) $ 414.1 $ 1,205.0 $ (777.6 ) $ 427.4
Changes in Goodwill	Changes in goodwill for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 January 1 $ 8,976.1 $ 8,676.4 Acquisitions 15.2 121.2 Noncontrolling interests in acquired businesses 13.7 51.8 Contingent purchase price obligations of acquired businesses 6.2 98.4 Foreign currency translation and other 64.0 96.4 March 31 $ 9,075.2 $ 9,044.2

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2017
Debt [Abstract]
Available and Unused Credit Lines	Available and unused credit lines at March 31, 2017 and December 31, 2016 were (in millions): 2017 2016 Credit Facility $ 2,500.0 $ 2,500.0 Uncommitted credit lines 1,140.0 1,132.0 Available and unused credit lines $ 3,640.0 $ 3,632.0
Long-Term Debt	Long-term debt at March 31, 2017 and December 31, 2016 was (in millions): 2017 2016 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 3.60% Senior Notes due 2026 1,400.0 1,400.0 Other debt — 0.1 4,900.0 4,900.1 Unamortized premium (discount), net 7.3 7.6 Unamortized debt issuance costs (23.2 ) (24.2 ) Unamortized deferred gain from settlement of interest rate swaps 80.1 84.7 Fair value adjustment attributed to interest rate swaps (49.7 ) (47.6 ) 4,914.5 4,920.6 Current portion — (0.1 ) Long-term debt $ 4,914.5 $ 4,920.5

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2017
Segment Reporting [Abstract]
Revenue and Long-Lived Assets and Goodwill by Geographic Region	Revenue and long-lived assets and goodwill by geographic region at and for the three months ended March 31, 2017 and 2016 were (in millions): Americas EMEA Asia Pacific 2017 Revenue $ 2,245.9 $ 966.5 $ 375.0 Long-lived assets and goodwill 6,673.8 2,544.3 535.3 2016 Revenue $ 2,198.5 $ 946.3 $ 354.3 Long-lived assets and goodwill 6,435.2 2,756.5 542.6

Pension and Other Postemploym24

Pension and Other Postemployment Benefits (Tables)	3 Months Ended
	Mar. 31, 2017
Defined Benefit Pension Plans [Member]
Components of Net Periodic Benefit Expense	Defined Benefit Pension Plans The components of net periodic benefit expense for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 Service cost $ 2.3 $ 2.0 Interest cost 1.8 1.7 Expected return on plan assets (0.7 ) (0.7 ) Amortization of prior service cost 1.1 1.1 Amortization of actuarial losses 1.6 1.2 $ 6.1 $ 5.3
Postemployment Arrangements [Member]
Components of Net Periodic Benefit Expense	Postemployment Arrangements The components of net periodic benefit expense for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 Service cost $ 1.1 $ 1.0 Interest cost 0.9 0.9 Amortization of prior service cost 0.9 0.7 Amortization of actuarial losses 0.3 0.3 $ 3.2 $ 2.9

Supplemental Cash Flow Data (Ta

Supplemental Cash Flow Data (Tables)	3 Months Ended
	Mar. 31, 2017
Supplemental Cash Flow Data [Abstract]
Increase (Decrease) in Operating Capital	The increase (decrease) in operating capital for the three months ended March 31, 2017 and 2016 was (in millions): 2017 2016 (Increase) decrease in accounts receivable $ 779.5 $ 1,019.0 (Increase) decrease in work in process and other current assets (213.5 ) (329.7 ) Increase (decrease) in accounts payable (1,117.5 ) (1,551.7 ) Increase (decrease) in customer advances and other current liabilities (13.8 ) (23.9 ) Change in other assets and liabilities, net 14.7 79.2 $ (550.6 ) $ (807.1 ) Income taxes paid $ 64.8 $ 135.5 Interest paid $ 53.2 $ 41.5

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss), net of income taxes, for the three months ended March 31, 2017 and 2016 were (in millions): 2017 Cash Flow Hedge Available-for-Sale Securities Defined Benefit Pension Plans and Postemployment Arrangements Foreign Currency Translation Total January 1 $ (29.5 ) $ (0.8 ) $ (90.6 ) $ (1,235.1 ) $ (1,356.0 ) Other comprehensive income (loss) before reclassifications — 0.1 — 99.9 100.0 Reclassification from accumulated other comprehensive income (loss) 0.8 — 2.1 — 2.9 March 31 $ (28.7 ) $ (0.7 ) $ (88.5 ) $ (1,135.2 ) $ (1,253.1 ) 2016 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 Reclassification from accumulated other comprehensive income (loss) — — 2.3 — 2.3 March 31 $ (31.8 ) $ (0.9 ) $ (85.6 ) $ (831.0 ) $ (949.3 )

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2017
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, 2017 and December 31, 2016 were (in millions): 2017 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 2,442.2 $ 2,442.2 Short-term investments 43.6 43.6 Available-for-sale securities 4.0 4.0 Interest rate and foreign currency derivative instruments $ 0.5 0.5 Liabilities: Interest rate and foreign currency derivative instruments $ 49.9 $ 49.9 Contingent purchase price obligations $ 406.6 406.6 2016 Assets: Cash and cash equivalents $ 3,002.2 $ 3,002.2 Short-term investments 20.6 20.6 Available-for-sale securities 4.3 4.3 Interest rate and foreign currency derivative instruments $ 0.2 0.2 Liabilities: Interest rate and foreign currency derivative instruments $ 48.9 $ 48.9 Contingent purchase price obligations $ 386.1 386.1
Changes in Contingent Purchase Price Obligations	Changes in contingent purchase price obligations for the three months ended March 31, 2017 and 2016 were (in millions): 2017 2016 January 1 $ 386.1 $ 322.0 Acquisitions 15.5 102.5 Revaluation and interest (0.9 ) 12.3 Payments (2.1 ) (22.7 ) Foreign currency translation 8.0 10.0 March 31 $ 406.6 $ 424.1
Carrying Amount and Fair Value of Financial Assets and Liabilities	The carrying amount and fair value of our financial assets and liabilities at March 31, 2017 and December 31, 2016 were (in millions): 2017 2016 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents $ 2,442.2 $ 2,442.2 $ 3,002.2 $ 3,002.2 Short-term investments 43.6 43.6 20.6 20.6 Available-for-sale securities 4.0 4.0 4.3 4.3 Interest rate and foreign currency derivative instruments 0.5 0.5 0.2 0.2 Cost method investments 13.9 13.9 14.2 14.2 Liabilities: Short-term debt $ 28.6 $ 28.6 $ 28.7 $ 28.7 Interest rate and foreign currency derivative instruments 49.9 49.9 48.9 48.9 Contingent purchase price obligations 406.6 406.6 386.1 386.1 Long-term debt, including current portion 4,914.5 5,066.8 4,920.6 5,035.1

Presentation of Financial Sta28

Presentation of Financial Statements Presentation of Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Accounting Changes [Line Items]
Income tax benefit	$ (108)	$ (115.5)
Accounting Standards Update 2016-09 [Member]
Accounting Changes [Line Items]
Income tax benefit	12.4
Excess tax benefit from share-based compensation, operating activities		7.2
Excess tax benefit from share-based compensation, financing activities		$ (7.2)
Cumulative catch-up adjustment to opening retained earnings	$ (4.5)

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, 2017	Mar. 31, 2016
Net Income Available for Common Shares:
Net income - Omnicom Group Inc.	$ 241.8	$ 218.4
Net income allocated to participating securities	(0.5)	(1.5)
Net income available for common shares	$ 241.3	$ 216.9
Weighted Average Shares:
Basic	234.6	240
Dilutive stock options and restricted shares	1.9	1.1
Diluted	236.5	241.1
Anti-dilutive stock options and restricted shares	1	0.1
Net Income per Common Share - Omnicom Group Inc.:
Basic	$ 1.03	$ 0.90
Diluted	$ 1.02	$ 0.90

Goodwill and Intangible Asset30

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Mar. 31, 2017	Dec. 31, 2016
Goodwill, Gross Carrying Value			$ 9,584.3	$ 9,481.4
Goodwill, Accumulated Amortization			(509.1)	(505.3)
Goodwill, Net Carrying Value	$ 8,976.1	$ 8,676.4	9,075.2	8,976.1
Intangible assets:, Gross Carrying Value			1,220.4	1,205
Intangible assets:, Accumulated Amortization			(806.3)	(777.6)
Intangible assets:, Net Carrying Value			414.1	427.4
Goodwill [Roll Forward]
Goodwill, January 1	8,976.1	8,676.4
Goodwill, Acquisitions	15.2	121.2
Goodwill, Noncontrolling interests in acquired businesses	13.7	51.8
Goodwill, Contingent purchase price of acquired businesses	6.2	98.4
Goodwill, Foreign currency translation and other	64	96.4
Goodwill, March 31	$ 9,075.2	$ 9,044.2
Purchased and internally developed software
Intangible assets:, Gross Carrying Value			348.9	342.6
Intangible assets:, Accumulated Amortization			(280.5)	(270.2)
Intangible assets:, Net Carrying Value			68.4	72.4
Customer related and other
Intangible assets:, Gross Carrying Value			871.5	862.4
Intangible assets:, Accumulated Amortization			(525.8)	(507.4)
Intangible assets:, Net Carrying Value			$ 345.7	$ 355

Debt (Details)

Debt (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Credit Facilities [Abstract]
Available and unused credit lines	$ 3,640	$ 3,632
Short-Term Borrowings [Abstract]
Short-term debt	28.6	28.7
Long-Term Debt [Abstract]
Long-term debt, carrying amount	4,900	4,900.1
Unamortized premium (discount)	7.3	7.6
Unamortized debt issuance costs	(23.2)	(24.2)
Unamortized deferred gain from settlement of interest rate swaps	80.1	84.7
Fair value adjustment attributed to interest rate swaps	(49.7)	(47.6)
Long-term debt, total	4,914.5	4,920.6
Long-term debt, current portion	0	(0.1)
Long-Term Debt	4,914.5	4,920.5
Interest Rate Swaps on 2024 Notes [Member]
Long-Term Debt [Abstract]
Interest rate swaps, liability, at fair value	(18.5)
Interest rate swaps, notional amount	750
Interest Rate Swaps on 2026 Notes [Member]
Long-Term Debt [Abstract]
Interest rate swaps, liability, at fair value	(31.2)
Interest rate swaps, notional amount	500
Credit Facility
Credit Facilities [Abstract]
Credit Facility, maximum borrowing capacity	$ 2,500
Credit Facility, expiration date	Jul. 31, 2021
Available and unused credit lines	$ 2,500	2,500
Credit Facility, 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 Facility, covenant compliance	At March 31, 2017 we were in compliance with these covenants as our Leverage Ratio was 2.2 times and our Interest Coverage Ratio was 10.9 times.
Commercial Paper [Member]
Credit Facilities [Abstract]
Credit Facility, maximum borrowing capacity	$ 2,000
Uncommitted credit lines
Credit Facilities [Abstract]
Available and unused credit lines	1,140	1,132
6.25% Senior Notes due 2019
Long-Term Debt [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 Debt [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 Debt [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 Debt [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
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 1,400	1,400
Long-term debt, interest rate	3.60%
Long-term debt, maturity date	Apr. 15, 2026
Other debt
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 0	$ 0.1

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue	$ 3,587.4	$ 3,499.1
Americas
Revenue	2,245.9	2,198.5
Long-lived assets and goodwill	6,673.8	6,435.2
United States
Revenue	2,011.7	2,007.6
EMEA
Revenue	966.5	946.3
Long-lived assets and goodwill	2,544.3	2,756.5
Asia Pacific
Revenue	375	354.3
Long-lived assets and goodwill	$ 535.3	$ 542.6

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Effective tax rate	29.20%	32.80%
Income tax benefit	$ (108)	$ (115.5)
Unrecognized tax benefits	113.6
Unrecognized tax benefits that would impact effective tax rate	71.5
Accounting Standards Update 2016-09 [Member]
Income tax benefit	$ 12.4

Pension and Other Postemploym34

Pension and Other Postemployment Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Defined Benefit Pension Plans [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	$ 2.3	$ 2
Interest cost	1.8	1.7
Expected return on plan assets	(0.7)	(0.7)
Amortization of prior service cost	1.1	1.1
Amortization of actuarial losses	1.6	1.2
Net periodic benefit cost	6.1	5.3
Employer contributions	0.3	0.5
Postemployment Arrangements [Member]
Components of Net Periodic Benefit Cost [Abstract]
Service cost	1.1	1
Interest cost	0.9	0.9
Amortization of prior service cost	0.9	0.7
Amortization of actuarial losses	0.3	0.3
Net periodic benefit cost	$ 3.2	$ 2.9

Supplemental Cash Flow Data (De

Supplemental Cash Flow Data (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Change in Operating Capital [Abstract]
(Increase) decrease in accounts receivable	$ 779.5	$ 1,019
(Increase) decrease in work in process and other current assets	(213.5)	(329.7)
Increase (decrease) in accounts payable	(1,117.5)	(1,551.7)
Increase (decrease) in customer advances and other current liabilities	(13.8)	(23.9)
Change in other assets and liabilities, net	14.7	79.2
Change in operating capital	(550.6)	(807.1)
Income taxes paid	64.8	135.5
Interest paid	$ 53.2	$ 41.5

Equity (Details)

Equity (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	$ (1,356)	$ (1,015.4)
Other comprehensive income (loss) before reclassifications	100	63.8
Reclassification from accumulated other comprehensive income (loss)	2.9	2.3
March 31	(1,253.1)	(949.3)
Cash Flow Hedge
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(29.5)	(3.3)
Other comprehensive income (loss) before reclassifications	0	(28.5)
Reclassification from accumulated other comprehensive income (loss)	0.8	0
March 31	(28.7)	(31.8)
Available-for-Sale Securities
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(0.8)	(0.9)
Other comprehensive income (loss) before reclassifications	0.1	0
Reclassification from accumulated other comprehensive income (loss)	0	0
March 31	(0.7)	(0.9)
Defined Benefit Pension Plans and Postemployment Arrangements
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(90.6)	(87.9)
Other comprehensive income (loss) before reclassifications	0	0
Reclassification from accumulated other comprehensive income (loss)	2.1	2.3
March 31	(88.5)	(85.6)
Foreign Currency Translation
Changes in Accumulated Other Comprehensive Income (Loss) [Roll Forward]
January 1	(1,235.1)	(923.3)
Other comprehensive income (loss) before reclassifications	99.9	92.3
Reclassification from accumulated other comprehensive income (loss)	0	0
March 31	$ (1,135.2)	$ (831)

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Assets:
Cash and cash equivalents	$ 2,442.2		$ 3,002.2
Short-term investments	43.6		20.6
Available-for-sale securities	4		4.3
Interest rate and foreign currency derivative instruments	0.5		0.2
Cost method investments	13.9		14.2
Liabilities:
Short-term debt	28.6		28.7
Interest rate and foreign currency derivative instruments	49.9		48.9
Contingent purchase price obligations	406.6		386.1
Long-term debt, including current portion	5,066.8		5,035.1
Carrying Amount
Assets:
Cash and cash equivalents	2,442.2		3,002.2
Short-term investments	43.6		20.6
Available-for-sale securities	4		4.3
Interest rate and foreign currency derivative instruments	0.5		0.2
Cost method investments	13.9		14.2
Liabilities:
Short-term debt	28.6		28.7
Interest rate and foreign currency derivative instruments	49.9		48.9
Contingent purchase price obligations	406.6		386.1
Long-term debt, including current portion	4,914.5		4,920.6
Contingent purchase price obligations
Changes in Level 3 Contingent Purchase Price Obligations [Roll Forward]
January 1	386.1	$ 322
Acquisitions	15.5	102.5
Revaluation and interest	(0.9)	12.3
Payments	(2.1)	(22.7)
Foreign currency translation	8	10
March 31	406.6	$ 424.1
Fair Value, Measurements, Recurring [Member]
Assets:
Cash and cash equivalents	2,442.2		3,002.2
Short-term investments	43.6		20.6
Available-for-sale securities	4		4.3
Interest rate and foreign currency derivative instruments	0.5		0.2
Liabilities:
Interest rate and foreign currency derivative instruments	49.9		48.9
Contingent purchase price obligations	406.6		386.1
Fair Value, Measurements, Recurring [Member] | Level 1
Assets:
Cash and cash equivalents	2,442.2		3,002.2
Short-term investments	43.6		20.6
Available-for-sale securities	4		4.3
Fair Value, Measurements, Recurring [Member] | Level 2
Assets:
Interest rate and foreign currency derivative instruments	0.5		0.2
Liabilities:
Interest rate and foreign currency derivative instruments	49.9		48.9
Fair Value, Measurements, Recurring [Member] | Level 3
Liabilities:
Contingent purchase price obligations	$ 406.6		$ 386.1