Omnicom (OMC) 10-Q 20 Apr 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 13, 2022
Entity Listings [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Entity File Number	1-10551
Entity Registrant Name	OMNICOM GROUP INC.
Entity Incorporation, State or Country Code	NY
Entity Tax Identification Number	13-1514814
Entity Address, Address Line One	280 Park Avenue
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10017
City Area Code	212
Local Phone Number	415-3600
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		205,732,684
Entity Central Index Key	0000029989
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Document Transition Report	false
Amendment Flag	false
Common Stock, $0.15 Par Value
Entity Listings [Line Items]
Title of 12(b) Security	Common Stock, $0.15 Par Value
Trading Symbol	OMC
Security Exchange Name	NYSE
€500 million 0.80% Senior Notes due 2027
Entity Listings [Line Items]
Title of 12(b) Security	0.800% Senior Notes due 2027
Trading Symbol	OMC/27
Security Exchange Name	NYSE
€500 million 1.40% Senior Notes due 2031
Entity Listings [Line Items]
Title of 12(b) Security	1.400% Senior Notes due 2031
Trading Symbol	OMC/31
Security Exchange Name	NYSE
£325 million 2.25% Senior Notes due 2033
Entity Listings [Line Items]
Title of 12(b) Security	2.250% Senior Notes due 2033
Trading Symbol	OMC/33
Security Exchange Name	NYSE

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current Assets:
Cash and cash equivalents	$ 3,925.5	$ 5,316.8
Short-term investments	92.7	0
Accounts receivable, net of allowance for doubtful accounts of $21.0 and $21.7	7,071.6	8,472.5
Work in process	1,316.8	1,201
Other current assets	990.9	919.2
Total Current Assets	13,397.5	15,909.5
Property and Equipment at cost, less accumulated depreciation of $1,178.2 and $1,165.7	970.6	992.1
Operating Lease Right-Of-Use Assets	1,204.3	1,202.9
Equity Method Investments	77.6	76.3
Goodwill	9,951.9	9,738.6
Intangible Assets, net of accumulated amortization of $821.7 and $856.5	333	298
Other Assets	210.8	204.4
TOTAL ASSETS	26,145.7	28,421.8
Current Liabilities:
Accounts payable	9,899.6	11,897.2
Customer advances	1,463.8	1,644.5
Short-term debt	12.4	9.6
Taxes payable	328.5	263.3
Other current liabilities	2,472.9	2,411.6
Total Current Liabilities	14,177.2	16,226.2
Long-Term Liabilities	960	961.5
Long-Term Liability - Operating Leases	950.1	952.1
Long-Term Debt	5,646.4	5,685.7
Deferred Tax Liabilities	458.1	477.3
Commitments and Contingent Liabilities (Note 11)
Temporary Equity - Redeemable Noncontrolling Interests	405.3	345.3
Shareholders’ Equity:
Preferred stock	0	0
Common stock	44.6	44.6
Additional paid-in capital	584.5	622
Retained earnings	9,027.3	8,998.8
Accumulated other comprehensive income (loss)	(1,222.6)	(1,252.3)
Treasury stock, at cost	(5,434.1)	(5,142.9)
Total Shareholders’ Equity	2,999.7	3,270.2
Noncontrolling interests	548.9	503.5
Total Equity	3,548.6	3,773.7
TOTAL LIABILITIES AND EQUITY	$ 26,145.7	$ 28,421.8

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Consolidated Balance Sheets (Parenthetical) [Abstract]
Allowance for doubtful accounts	$ 21	$ 21.7
Accumulated depreciation	1,178.2	1,165.7
Intangible assets, accumulated amortization	$ 821.7	$ 856.5

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue	$ 3,410.3	$ 3,426.9
Salary and service costs	2,491.8	2,545
Occupancy and other costs	300.2	291.6
Charges arising from the effects of the war in Ukraine	113.4	0
Cost of services	2,905.4	2,836.6
Selling, general and administrative expenses	96.7	71.6
Depreciation and amortization	55.2	53.3
Operating Expenses	3,057.3	2,961.5
Operating Profit	353	465.4
Interest Expense	51	53.8
Interest Income	8.2	6.3
Income Before Income Taxes and Loss From Equity Method Investments	310.2	417.9
Income Tax Expense	115.5	111.9
Loss From Equity Method Investments	(0.1)	0
Net Income	194.6	306
Net Income Attributed To Noncontrolling Interests	20.8	18.2
Net Income - Omnicom Group Inc.	$ 173.8	$ 287.8
Net Income Per Share - Omnicom Group Inc.:
Basic	$ 0.83	$ 1.33
Diluted	$ 0.83	$ 1.33

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net Income	$ 194.6	$ 306
Cash flow hedge:
Amortization of loss included in interest expense	1.4	1.4
Income tax effect	(0.4)	(0.4)
Other comprehensive income (loss), Cash flow hedge	1	1
Defined benefit pension plans and postemployment arrangements:
Amortization of prior service cost	1	1.2
Amortization of actuarial losses	1.6	3.3
Income tax effect	(1.3)	(1.8)
Other comprehensive income (loss), Defined benefit pension plans and postemployment arrangements	1.3	2.7
Foreign currency translation adjustment	28.1	(46.9)
Other Comprehensive Income (Loss)	30.4	(43.2)
Comprehensive Income	225	262.8
Comprehensive Income Attributed To Noncontrolling Interests	21.5	7.4
Comprehensive Income - Omnicom Group Inc.	$ 203.5	$ 255.4

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Shareholders’ Equity	Noncontrolling Interests
Beginning Balance at Dec. 31, 2020			$ 747.8	$ 8,190.6	$ (1,213.8)	$ (4,684.8)		$ 492.5
Net Income	$ 306			287.8				18.2
Other comprehensive income (loss)	(43.2)				(32.4)			(10.8)
Dividends to noncontrolling interests								(13.6)
Net change in noncontrolling interests			1					(5.8)
Increase in noncontrolling interests from business combinations								0
Change in temporary equity			(2.8)
Common stock dividends declared				(150.9)
Share-based compensation			20.8
Stock issued, share-based compensation			2.9			1.1
Common stock repurchased						(0.7)
Ending Balance at Mar. 31, 2021	$ 3,691.7	$ 44.6	769.7	8,327.5	(1,246.2)	(4,684.4)	$ 3,211.2	480.5
Dividends Declared Per Common Share	$ 0.70
Common Stock, shares issued		297.2
Beginning Balance at Dec. 31, 2021	$ 3,773.7		622	8,998.8	(1,252.3)	(5,142.9)		503.5
Net Income	194.6			173.8				20.8
Other comprehensive income (loss)	30.4				29.7			0.7
Dividends to noncontrolling interests								(14)
Net change in noncontrolling interests			(5.6)					(9.9)
Increase in noncontrolling interests from business combinations								47.8
Change in temporary equity			(57.8)
Common stock dividends declared				(145.3)
Share-based compensation			20
Stock issued, share-based compensation			5.9			9.1
Common stock repurchased						(300.3)
Ending Balance at Mar. 31, 2022	$ 3,548.6	$ 44.6	$ 584.5	$ 9,027.3	$ (1,222.6)	$ (5,434.1)	$ 2,999.7	$ 548.9
Dividends Declared Per Common Share	$ 0.70
Common Stock, shares issued		297.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net Income	$ 194.6	$ 306
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization of right-of-use assets	35.8	33.4
Amortization of intangible assets	19.4	19.9
Amortization of net deferred gain on interest rate swaps	1.4	(1.3)
Share-based compensation	20	20.8
Non-cash charges related to the effects of the war in Ukraine	65.8	0
Other, net	2.7	3.8
Use of operating capital	(884.2)	(843.5)
Net Cash Used In Operating Activities	(544.5)	(460.9)
Cash Flows from Investing Activities:
Capital expenditures	(23.2)	(12.4)
Acquisition of businesses and interests in affiliates, net of cash acquired	(246.6)	0
Purchase of short-term investments	(92.7)	0
Other, net	0.7	1.6
Net Cash Used In Investing Activities	(361.8)	(10.8)
Cash Flows from Financing Activities:
Change in short-term debt	2.4	2.2
Dividends paid to common shareholders	(147.4)	(140.1)
Repurchases of common stock	(300.3)	(0.7)
Proceeds from stock plans	13.5	3.4
Acquisition of additional noncontrolling interests	(6.3)	(2.2)
Dividends paid to noncontrolling interest shareholders	(14)	(13.6)
Payment of contingent purchase price obligations	(6)	(6.9)
Other, net	(18.2)	(17.8)
Net Cash Used In Financing Activities	(476.3)	(175.7)
Effect of foreign exchange rate changes on cash and cash equivalents	(8.7)	(55.8)
Net Decrease in Cash and Cash Equivalents	(1,391.3)	(703.2)
Cash and Cash Equivalents at the Beginning of Period	5,316.8	5,600.5
Cash and Cash Equivalents at the End of Period	$ 3,925.5	$ 4,897.3

Presentation of Financial State

Presentation of Financial Statements	3 Months Ended
	Mar. 31, 2022
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, or 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, 2021, or 2021 10-K. Results for the interim periods are not necessarily indicative of results that may be expected for the year. Risks and Uncertainties Global economic challenges, including the impact of the war in Ukraine, the COVID-19 pandemic, rising inflation and supply-chain disruptions could cause economic uncertainty and volatility. The impact of these issues on our business will vary by geographic market and discipline. We monitor economic conditions closely, as well as client revenue levels and other factors. In response to reductions in revenue, we can take actions to align our cost structure with changes in client demand and manage our working capital. However, there can be no assurance as to the effectiveness of our efforts to mitigate any impact of the current and future adverse economic conditions, reductions in client revenue, changes in client creditworthiness and other developments. Impact of the War in Ukraine We have historically conducted operations in Russia and Ukraine through local agencies in which we hold a majority stake. The minority partners in these agencies are local management, which report to the applicable network management. During the first quarter of 2022, the war in Ukraine required us to suspend our business operations in Ukraine. The war resulted in the imposition of sanctions by the United States, the United Kingdom, and the European Union, that affect the cross-border operations of businesses operating in Russia. In addition, Russian regulators have imposed currency restrictions and regulations that created uncertainty regarding our ability to recover our investment in our operations in Russia, as well as our ability to exercise control over the operations. Also, many multinational companies, including many of our large clients, ceased or suspended their operations in Russia. Therefore, the ability to continue operations in Russia without additional funding, which we will not provide, is uncertain. As a result, we have sold, or committed to dispose of, all of our businesses in Russia. Accordingly, we recorded pretax charges of $113.4 million in the first quarter of 2022, primarily consisting of the net investment in our Russian businesses, and also including charges related to the suspension of operations in Ukraine. Impact of the COVID-19 Pandemic - Update Beginning in March 2020 and continuing through the first quarter of 2021, our business experienced the effects from reductions in client spending due to the economic impact related to the COVID-19 pandemic. While mixed by business and geography, the spending reductions impacted all our businesses and markets. Globally, the most impacted businesses were our Experiential discipline, especially in our event marketing businesses, and our Execution & Support discipline, primarily in field marketing. Most of our markets began to improve in April 2021, and the improvement continued through the first quarter of 2022 as clients substantially increased their spending on our services.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2022
Revenue [Abstract]
Revenue	Revenue Nature of our services We provide an extensive range of advertising, marketing and corporate communications services through various client-centric networks that are organized to meet specific client objectives. Our networks and agencies provide a comprehensive range of services in the following fundamental disciplines: Advertising & Media, Precision Marketing, Commerce & Brand Consulting, Experiential, Execution & Support, Public Relations and Healthcare. Advertising & Media includes creative services across digital and traditional media, strategic media planning and buying, and data analytics services. Precision Marketing includes digital and direct marketing, digital transformation and data and analytics. Commerce & Brand Consulting services include brand consulting, strategy and research, and retail ecommerce. Experiential marketing services include live and digital events and experience design and execution. Execution & Support includes field marketing, sales support, digital and physical merchandising and point-of-sale, as well as other specialized marketing and custom communications services. Public relations services include corporate communications, crisis management, public affairs, and media and media relations services. Healthcare includes advertising and media services to global healthcare and pharmaceutical clients. At the core of all our services is the ability to create or develop a client’s marketing or corporate communications message into content that can be delivered to a target audience across different communications mediums. Revenue by discipline was (in millions): Three Months Ended March 31, 2022 2021 Advertising & Media $ 1,769.4 $ 2,003.7 Precision Marketing 336.1 269.5 Commerce & Brand Consulting 237.9 214.5 Experiential 142.5 88.4 Execution & Support 254.3 246.6 Public Relations 360.9 317.5 Healthcare 309.2 286.7 $ 3,410.3 $ 3,426.9 Economic factors affecting our revenue Global economic conditions have a direct impact on our revenue. Adverse economic conditions pose a risk that our clients may reduce, postpone or cancel spending for our services, which would impact our revenue. Revenue in our principal geographic markets was (in millions): Three Months Ended March 31, 2022 2021 Americas: North America $ 1,839.0 $ 1,972.5 Latin America 67.7 63.2 EMEA: Europe 992.0 941.0 Middle East and Africa 81.9 50.2 Asia-Pacific 429.7 400.0 $ 3,410.3 $ 3,426.9 The Americas is comprised of North America, which includes the United States, Canada and Puerto Rico, and Latin America, which includes South America and Mexico. EMEA is comprised of Europe, the Middle East and Africa. Asia-Pacific includes Australia, Greater China, India, Japan, Korea, New Zealand, Singapore and other Asian countries. Revenue in the United States for the three months ended March 31, 2022 and 2021 was $1,724.6 million and $1,868.1 million, respectively. Contract assets and liabilities Work in process includes contract assets, unbilled fees and costs, and media and production costs. Contract liabilities primarily consist of customer advances. Work in process and contract liabilities were (in millions): March 31, 2022 December 31, 2021 March 31, 2021 Work in process: Contract assets and unbilled fees and costs $ 662.5 $ 469.9 $ 626.0 Media and production costs 654.3 731.1 512.7 $ 1,316.8 $ 1,201.0 $ 1,138.7 Contract liabilities: Customer advances $ 1,463.8 $ 1,644.5 $ 1,278.0 Work in process represents accrued costs incurred on behalf of customers, including media and production costs, and fees and other third-party costs that have not yet been billed. Media and production costs are billed during the production process in accordance with the terms of the client contract. Contract assets primarily include incentive fees, which are not material and will be billed to clients in accordance with the terms of the client contract. Substantially all unbilled fees and costs will be billed within the next 30 days. Contract liabilities primarily represent advance billings to customers in accordance with the terms of the client contracts, primarily for the reimbursement of third-party costs that are generally incurred in the near term. There were no impairment losses to the contract assets recorded in the three months ended March 31, 2022 and 2021.

Net Income per Share

Net Income per Share	3 Months Ended
	Mar. 31, 2022
Net Income per Share [Abstract]
Net Income per Share	Net Income per Share The computations of basic and diluted net income per share were (in millions, except per share amounts): Three Months Ended March 31, 2022 2021 Net Income - Omnicom Group Inc. $ 173.8 $ 287.8 Weighted Average Shares: Basic 208.3 215.6 Dilutive stock options and restricted shares 1.5 1.2 Diluted 209.8 216.8 Anti-dilutive stock options and restricted shares 0.5 0.7 Net Income per Share - Omnicom Group Inc.: Basic $0.83 $1.33 Diluted $0.83 $1.33

Goodwill and Intangible Assets

Goodwill and Intangible Assets	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and intangible assets were (in millions): March 31, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net Goodwill $ 10,466.6 $ (514.7) $ 9,951.9 $ 10,259.6 $ (521.0) $ 9,738.6 Intangible assets: Purchased and internally developed software $ 375.5 $ (314.6) $ 60.9 $ 382.2 $ (318.7) $ 63.5 Customer related and other 779.2 (507.1) 272.1 772.3 (537.8) 234.5 $ 1,154.7 $ (821.7) $ 333.0 $ 1,154.5 $ (856.5) $ 298.0 Changes in goodwill were (in millions): Three Months Ended March 31, 2022 2021 January 1 $ 9,738.6 $ 9,609.7 Acquisitions 215.2 — Noncontrolling interests in acquired businesses 47.8 — Dispositions (19.4) — Foreign currency translation (30.3) (68.2) March 31 $ 9,951.9 $ 9,541.5 We evaluated the effects of the war in Ukraine and the geopolitical events in the region on our forecasted consolidated operating performance and concluded that we do not have a trigger event that would result in an update of our evaluation of goodwill for impairment that we performed in June 2021. We will continue to monitor these ongoing geopolitical events and evaluate the impact, if any, on our goodwill impairment test, which will be performed in June 2022.

Debt

Debt	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Debt	Debt Credit Facilities We have a $2.5 billion multi-currency revolving credit facility, or Credit Facility, that matures on February 14, 2025. In addition, we have uncommitted credit lines aggregating $807.5 million and the ability to issue up to $2 billion of U.S. Dollar denominated commercial paper and issue up to the equivalent of $500 million in British Pounds or Euro under a Euro commercial paper program. These facilities provide additional liquidity sources for operating capital and general corporate purposes. At March 31, 2022, there were no borrowings under the Credit Facility or the uncommitted credit lines, and there were no outstanding commercial paper issuances. The Credit Facility contains a financial covenant that requires us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) of no more than 3.0 times for the most recently ended 12-month period. At March 31, 2022, we were in compliance with this covenant as our Leverage Ratio was 2.4 times. The Credit Facility does not limit our ability to declare or pay dividends or repurchase our common stock. Short-Term Debt At March 31, 2022 and December 31, 2021, short-term debt of $12.4 million and $9.6 million, respectively, represented bank overdrafts and short-term borrowings primarily of our international subsidiaries. Due to the short-term nature of this debt, carrying value approximates fair value. Long-Term Debt Long-term debt was (in millions): March 31, 2022 December 31, 2021 3.65% Senior Notes due 2024 $ 750.0 $ 750.0 3.60% Senior Notes due 2026 1,400.0 1,400.0 €500 million 0.80% Senior Notes due 2027 554.7 568.6 2.45% Senior Notes due 2030 600.0 600.0 4.20% Senior Notes due 2030 600.0 600.0 €500 million 1.40% Senior Notes due 2031 554.7 568.6 2.60% Senior Notes due 2031 800.0 800.0 £325 million 2.25% Senior Notes due 2033 426.5 439.8 5,685.9 5,727.0 Unamortized discount (10.2) (10.8) Unamortized debt issuance costs (30.4) (31.8) Unamortized deferred gain from settlement of interest rate swaps 1.1 1.3 $ 5,646.4 $ 5,685.7 Our 2.45% Senior Notes due 2030, 4.20% Senior Notes due 2030 and 2.60% Senior Notes due 2031 are senior unsecured obligations of Omnicom that rank equal in right of payment with all existing and future unsecured senior indebtedness. Omnicom and its wholly owned finance subsidiary, Omnicom Capital Inc., or OCI, are co-obligors under our 3.65% Senior Notes due 2024 and 3.60% Senior Notes due 2026. These notes are a joint and several liability of Omnicom and OCI, and Omnicom unconditionally guarantees OCI’s obligations with respect to the notes. OCI provides funding for our operations by incurring debt and lending the proceeds to our operating subsidiaries. OCI’s assets primarily consist of cash and cash equivalents and intercompany loans made to our operating subsidiaries, and the related interest receivable. There are no restrictions on the ability of OCI or Omnicom to obtain funds from our subsidiaries through dividends, loans or advances. Such notes are senior unsecured obligations that rank equal in right of payment with all existing and future unsecured senior indebtedness. Omnicom and OCI have, jointly and severally, fully and unconditionally guaranteed the obligations of Omnicom Finance Holdings plc, or OFH, a U.K.-based wholly owned subsidiary of Omnicom, with respect to the €500 million 0.80% Senior Notes due 2027 and the €500 million 1.40% Senior Notes due 2031, collectively the Euro Notes. OFH’s assets consist of its investments in several wholly owned finance companies that function as treasury centers, which provide funding for various operating companies in Europe, Brazil, Australia and other countries in the Asia-Pacific region. The finance companies’ assets consist of cash and cash equivalents and intercompany loans that they make or have made to the operating companies in their respective regions and the related interest receivable. There are no restrictions on the ability of Omnicom, OCI or OFH to obtain funds from their subsidiaries through dividends, loans or advances. The Euro Notes and the related guarantees are senior unsecured obligations that rank equal in right of payment with all existing and future unsecured senior indebtedness of OFH and each of Omnicom and OCI, respectively. Omnicom has fully and unconditionally guaranteed the obligations of Omnicom Capital Holdings plc, or OCH, a U.K.-based wholly owned subsidiary of Omnicom, with respect to the £325 million 2.25% Senior Notes due 2033, or the Sterling Notes. OCH’s assets consist of its investments in several wholly owned finance companies that function as treasury centers, which provide funding for various operating companies in EMEA, Australia and other countries in the Asia-Pacific region. The finance companies’ assets consist of cash and cash equivalents and intercompany loans that they make or have made to the operating companies in their respective regions and the related interest receivable. There are no restrictions on the ability of Omnicom or OCH to obtain funds from their subsidiaries through dividends, loans or advances. The Sterling Notes and the related guarantee are senior unsecured obligations that rank equal in right of payment with all existing and future unsecured senior indebtedness of OCH and Omnicom, respectively.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our 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 or practice areas. 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 six operating segments, which are our agency networks, into one reporting segment. The agency networks' regional reporting units comprise three geographic 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 were (in millions): Americas EMEA Asia-Pacific March 31, 2022 Revenue - Three months ended $ 1,906.7 $ 1,073.9 $ 429.7 Long-lived assets and goodwill 7,896.2 3,532.6 698.0 March 31, 2021 Revenue - Three months ended $ 2,035.7 $ 991.2 $ 400.0 Long-lived assets and goodwill 7,562.7 3,074.7 644.8

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Taxes [Abstract]
Income Taxes	Income Taxes Our effective tax rate for the three months ended March 31, 2022 increased period-over-period to 37.2% from 26.8%. The higher effective tax rate for 2022 was predominantly the result of the non-deductibility of the $113.4 million charges arising from the effects of the war in Ukraine, as well as an additional net charge of $4.8 million in connection with these charges. These charges were partially offset by the tax benefit arising from our share-based compensation awards. At March 31, 2022, our unrecognized tax benefits were $163.5 million. Of this amount, approximately $157.9 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, 2022
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 were (in millions): Three Months Ended March 31, 2022 2021 Service cost $ 0.8 $ 1.4 Interest cost 1.0 0.8 Expected return on plan assets (0.3) (0.2) Amortization of prior service cost 0.1 0.2 Amortization of actuarial losses 1.0 2.3 $ 2.6 $ 4.5 We contributed $0.2 million to our defined benefit pension plans in each of the three months ended March 31, 2022 and 2021, respectively. Postemployment Arrangements The components of net periodic benefit expense were (in millions): Three Months Ended March 31, 2022 2021 Service cost $ 1.1 $ 1.2 Interest cost 0.7 0.5 Amortization of prior service cost 0.9 1.0 Amortization of actuarial losses 0.6 1.0 $ 3.3 $ 3.7

Charges Arising from the Effect

Charges Arising from the Effects of the War in Ukraine	3 Months Ended
	Mar. 31, 2022
Charges arising from the effects of the war in Ukraine [Abstract]
Charges Arising from the Effects of the War in Ukraine	Charges Arising from the Effects of the War in UkraineAs discussed in Note 1, in the first quarter of 2022, we recorded pretax charges arising from the effects of the war in Ukraine of $113.4 million, which included cash charges of $47.6 million, primarily consisting of the loss on the disposition of the net investment in our Russian businesses, as well as impairment and other non-cash charges related to the suspension of operations in Ukraine.

Supplemental Cash Flow Data

Supplemental Cash Flow Data	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Data [Abstract]
Supplemental Cash Flow Data	Supplemental Cash Flow Data The change in operating capital was (in millions): Three Months Ended March 31, 2022 2021 (Increase) decrease in accounts receivable $ 1,142.2 $ 1,095.5 (Increase) decrease in work in process and other current assets (248.1) (55.3) Increase (decrease) in accounts payable (1,755.4) (1,953.8) Increase (decrease) in customer advances, taxes payable and other current liabilities 12.2 63.0 Change in other assets and liabilities, net (35.1) 7.1 Increase (decrease) in operating capital $ (884.2) $ (843.5) Income taxes paid $ 49.9 $ 42.7 Interest paid $ 14.1 $ 5.3 Non-cash increase in lease liabilities (in millions): Three Months Ended March 31, 2022 2021 Operating leases $ 76.3 $ 38.7 Finance leases $ 17.0 $ 11.7

Commitments and Contingent Liab

Commitments and Contingent Liabilities	3 Months Ended
	Mar. 31, 2022
Commitments and Contingent Liabilities [Abstract]
Commitments and Contingent Liabilities	Commitments and Contingent LiabilitiesIn 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.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in accumulated other comprehensive income (loss), net of income taxes were (in millions): Cash Defined Benefit Pension Plans and Postemployment Arrangements Foreign Total Three Months Ended March 31, 2022 January 1 $ (16.1) $ (90.4) $ (1,145.8) $ (1,252.3) Other comprehensive income (loss) before reclassifications — — 27.4 27.4 Reclassification from accumulated other comprehensive income (loss) 1.0 1.3 — 2.3 March 31 $ (15.1) $ (89.1) $ (1,118.4) $ (1,222.6) Three Months Ended March 31, 2021 January 1 $ (20.1) $ (123.2) $ (1,070.5) $ (1,213.8) Other comprehensive income (loss) before reclassifications — — (36.1) (36.1) Reclassification from accumulated other comprehensive income (loss) 1.0 2.7 — 3.7 March 31 $ (19.1) $ (120.5) $ (1,106.6) $ (1,246.2)

Fair Value

Fair Value	3 Months Ended
	Mar. 31, 2022
Fair Value [Abstract]
Fair Value	Fair Value Financial assets and liabilities measured at fair value on a recurring basis were (in millions): March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 3,925.5 $ 3,925.5 Short-term investments $ 92.7 92.7 Marketable equity investments 0.9 0.9 Liabilities: Contingent purchase price obligations $ 160.6 $ 160.6 December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 5,316.8 $ 5,316.8 Marketable equity investments 1.1 1.1 Foreign currency derivative instruments $ 0.3 0.3 Liabilities: Foreign currency derivatives $ 0.1 $ 0.1 Contingent purchase price obligations $ 167.1 167.1 Changes in contingent purchase price obligations were (in millions): Three Months Ended March 31, 2022 2021 January 1 $ 167.1 $ 71.9 Acquisitions 0.5 1.3 Revaluation and interest 0.2 0.4 Payments (6.0) (5.4) Foreign currency translation (1.2) (0.5) March 31 $ 160.6 $ 67.7 The carrying amount and fair value of our financial assets and liabilities were (in millions): March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets: Cash and cash equivalents $ 3,925.5 $ 3,925.5 $ 5,316.8 $ 5,316.8 Short-term investments 92.7 92.7 — — Marketable equity securities 0.9 0.9 1.1 1.1 Non-marketable equity securities 5.6 5.6 6.5 6.5 Foreign currency derivatives — — 0.3 0.3 Liabilities: Short-term debt $ 12.4 $ 12.4 $ 9.6 $ 9.6 Foreign currency derivatives — — 0.1 0.1 Contingent purchase price obligations 160.6 160.6 167.1 167.1 Long-term debt 5,646.4 5,561.3 5,685.7 6,011.6 Short-term investments of $92.7 million at March 31, 2022 represent time deposits maturing at various dates within the year. These investments are classified as held-to-maturity securities because we have the positive intent and ability to hold until maturity. Held-to-maturity securities are carried at amortized cost, which approximates fair value. Fair value is based on observable interest rates for similar securities.

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2022
New Accounting Standards [Abstract]
New Accounting Standards	New Accounting Standards In October 2021, the FASB issued ASU 2021-08, Accounting for Contract Assets and Contract Liabilities From Contracts With Customers , or ASU 2021-08, that requires acquiring companies to apply ASC 606 to recognize and measure contract assets and contract liabilities from contracts with customers acquired in a business combination consistent with those recorded by the acquiring company. ASU 2021-08 is effective January 1, 2023, and early adoption is permitted. Contracts with customers in the advertising and marketing business are typically short duration contracts. To the extent we acquire companies in the advertising and marketing communications business, we do not expect this standard to have a material impact on our results of operations or financial position.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events We have evaluated events subsequent to the balance sheet date and determined that there have not been any events that have occurred that would require additional adjustments to or disclosures in these consolidated financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Work in Process and Contract Liabilities	Work in process and contract liabilities were (in millions): March 31, 2022 December 31, 2021 March 31, 2021 Work in process: Contract assets and unbilled fees and costs $ 662.5 $ 469.9 $ 626.0 Media and production costs 654.3 731.1 512.7 $ 1,316.8 $ 1,201.0 $ 1,138.7 Contract liabilities: Customer advances $ 1,463.8 $ 1,644.5 $ 1,278.0
Geographic Markets [Member]
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	Revenue in our principal geographic markets was (in millions): Three Months Ended March 31, 2022 2021 Americas: North America $ 1,839.0 $ 1,972.5 Latin America 67.7 63.2 EMEA: Europe 992.0 941.0 Middle East and Africa 81.9 50.2 Asia-Pacific 429.7 400.0 $ 3,410.3 $ 3,426.9
Discipline [Member]
Disaggregation of Revenue [Line Items]
Disaggregation of Revenue	Revenue by discipline was (in millions): Three Months Ended March 31, 2022 2021 Advertising & Media $ 1,769.4 $ 2,003.7 Precision Marketing 336.1 269.5 Commerce & Brand Consulting 237.9 214.5 Experiential 142.5 88.4 Execution & Support 254.3 246.6 Public Relations 360.9 317.5 Healthcare 309.2 286.7 $ 3,410.3 $ 3,426.9

Net Income per Share (Tables)

Net Income per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Net Income per Share [Abstract]
Computations of Basic and Diluted Net Income per Share	The computations of basic and diluted net income per share were (in millions, except per share amounts): Three Months Ended March 31, 2022 2021 Net Income - Omnicom Group Inc. $ 173.8 $ 287.8 Weighted Average Shares: Basic 208.3 215.6 Dilutive stock options and restricted shares 1.5 1.2 Diluted 209.8 216.8 Anti-dilutive stock options and restricted shares 0.5 0.7 Net Income per Share - Omnicom Group Inc.: Basic $0.83 $1.33 Diluted $0.83 $1.33

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and intangible assets were (in millions): March 31, 2022 December 31, 2021 Gross Accumulated Net Gross Accumulated Net Goodwill $ 10,466.6 $ (514.7) $ 9,951.9 $ 10,259.6 $ (521.0) $ 9,738.6 Intangible assets: Purchased and internally developed software $ 375.5 $ (314.6) $ 60.9 $ 382.2 $ (318.7) $ 63.5 Customer related and other 779.2 (507.1) 272.1 772.3 (537.8) 234.5 $ 1,154.7 $ (821.7) $ 333.0 $ 1,154.5 $ (856.5) $ 298.0
Changes in Goodwill	Changes in goodwill were (in millions): Three Months Ended March 31, 2022 2021 January 1 $ 9,738.6 $ 9,609.7 Acquisitions 215.2 — Noncontrolling interests in acquired businesses 47.8 — Dispositions (19.4) — Foreign currency translation (30.3) (68.2) March 31 $ 9,951.9 $ 9,541.5

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Long-Term Debt	Long-term debt was (in millions): March 31, 2022 December 31, 2021 3.65% Senior Notes due 2024 $ 750.0 $ 750.0 3.60% Senior Notes due 2026 1,400.0 1,400.0 €500 million 0.80% Senior Notes due 2027 554.7 568.6 2.45% Senior Notes due 2030 600.0 600.0 4.20% Senior Notes due 2030 600.0 600.0 €500 million 1.40% Senior Notes due 2031 554.7 568.6 2.60% Senior Notes due 2031 800.0 800.0 £325 million 2.25% Senior Notes due 2033 426.5 439.8 5,685.9 5,727.0 Unamortized discount (10.2) (10.8) Unamortized debt issuance costs (30.4) (31.8) Unamortized deferred gain from settlement of interest rate swaps 1.1 1.3 $ 5,646.4 $ 5,685.7

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Revenue and Long-Lived Assets and Goodwill by Geographic Region	Revenue and long-lived assets and goodwill by geographic region were (in millions): Americas EMEA Asia-Pacific March 31, 2022 Revenue - Three months ended $ 1,906.7 $ 1,073.9 $ 429.7 Long-lived assets and goodwill 7,896.2 3,532.6 698.0 March 31, 2021 Revenue - Three months ended $ 2,035.7 $ 991.2 $ 400.0 Long-lived assets and goodwill 7,562.7 3,074.7 644.8

Pension and Other Postemploym_2

Pension and Other Postemployment Benefits (Tables)	3 Months Ended
	Mar. 31, 2022
Defined Benefit Pension Plans [Member]
Components of Net Periodic Benefit Expense	Defined Benefit Pension Plans The components of net periodic benefit expense were (in millions): Three Months Ended March 31, 2022 2021 Service cost $ 0.8 $ 1.4 Interest cost 1.0 0.8 Expected return on plan assets (0.3) (0.2) Amortization of prior service cost 0.1 0.2 Amortization of actuarial losses 1.0 2.3 $ 2.6 $ 4.5
Postemployment Arrangements [Member]
Components of Net Periodic Benefit Expense	Postemployment Arrangements The components of net periodic benefit expense were (in millions): Three Months Ended March 31, 2022 2021 Service cost $ 1.1 $ 1.2 Interest cost 0.7 0.5 Amortization of prior service cost 0.9 1.0 Amortization of actuarial losses 0.6 1.0 $ 3.3 $ 3.7

Supplemental Cash Flow Data (Ta

Supplemental Cash Flow Data (Tables)	3 Months Ended
	Mar. 31, 2022
Supplemental Cash Flow Data [Abstract]
Change in Operating Capital	The change in operating capital was (in millions): Three Months Ended March 31, 2022 2021 (Increase) decrease in accounts receivable $ 1,142.2 $ 1,095.5 (Increase) decrease in work in process and other current assets (248.1) (55.3) Increase (decrease) in accounts payable (1,755.4) (1,953.8) Increase (decrease) in customer advances, taxes payable and other current liabilities 12.2 63.0 Change in other assets and liabilities, net (35.1) 7.1 Increase (decrease) in operating capital $ (884.2) $ (843.5) Income taxes paid $ 49.9 $ 42.7 Interest paid $ 14.1 $ 5.3
Non-Cash Increase in Lease Liabilities	Non-cash increase in lease liabilities (in millions): Three Months Ended March 31, 2022 2021 Operating leases $ 76.3 $ 38.7 Finance leases $ 17.0 $ 11.7

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Abstract]
Changes in Accumulated Other Comprehensive Income (Loss)	Changes in accumulated other comprehensive income (loss), net of income taxes were (in millions): Cash Defined Benefit Pension Plans and Postemployment Arrangements Foreign Total Three Months Ended March 31, 2022 January 1 $ (16.1) $ (90.4) $ (1,145.8) $ (1,252.3) Other comprehensive income (loss) before reclassifications — — 27.4 27.4 Reclassification from accumulated other comprehensive income (loss) 1.0 1.3 — 2.3 March 31 $ (15.1) $ (89.1) $ (1,118.4) $ (1,222.6) Three Months Ended March 31, 2021 January 1 $ (20.1) $ (123.2) $ (1,070.5) $ (1,213.8) Other comprehensive income (loss) before reclassifications — — (36.1) (36.1) Reclassification from accumulated other comprehensive income (loss) 1.0 2.7 — 3.7 March 31 $ (19.1) $ (120.5) $ (1,106.6) $ (1,246.2)

Fair Value (Tables)

Fair Value (Tables)	3 Months Ended
	Mar. 31, 2022
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 were (in millions): March 31, 2022 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 3,925.5 $ 3,925.5 Short-term investments $ 92.7 92.7 Marketable equity investments 0.9 0.9 Liabilities: Contingent purchase price obligations $ 160.6 $ 160.6 December 31, 2021 Level 1 Level 2 Level 3 Total Assets: Cash and cash equivalents $ 5,316.8 $ 5,316.8 Marketable equity investments 1.1 1.1 Foreign currency derivative instruments $ 0.3 0.3 Liabilities: Foreign currency derivatives $ 0.1 $ 0.1 Contingent purchase price obligations $ 167.1 167.1
Changes in Contingent Purchase Price Obligations	Changes in contingent purchase price obligations were (in millions): Three Months Ended March 31, 2022 2021 January 1 $ 167.1 $ 71.9 Acquisitions 0.5 1.3 Revaluation and interest 0.2 0.4 Payments (6.0) (5.4) Foreign currency translation (1.2) (0.5) March 31 $ 160.6 $ 67.7
Carrying Amount and Fair Value of Financial Assets and Liabilities	The carrying amount and fair value of our financial assets and liabilities were (in millions): March 31, 2022 December 31, 2021 Carrying Fair Carrying Fair Assets: Cash and cash equivalents $ 3,925.5 $ 3,925.5 $ 5,316.8 $ 5,316.8 Short-term investments 92.7 92.7 — — Marketable equity securities 0.9 0.9 1.1 1.1 Non-marketable equity securities 5.6 5.6 6.5 6.5 Foreign currency derivatives — — 0.3 0.3 Liabilities: Short-term debt $ 12.4 $ 12.4 $ 9.6 $ 9.6 Foreign currency derivatives — — 0.1 0.1 Contingent purchase price obligations 160.6 160.6 167.1 167.1 Long-term debt 5,646.4 5,561.3 5,685.7 6,011.6

Presentation of Financial Sta_2

Presentation of Financial Statements (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Presentation of Financial Statements [Abstract]
Charges arising from the effects of the war in Ukraine	$ 113.4	$ 0

Revenue (Details)

Revenue (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 3,410.3	$ 3,426.9
Contract assets and unbilled fees and costs	662.5	626	$ 469.9
Media and production costs	654.3	512.7	731.1
Work in process:	1,316.8	1,138.7	1,201
Customer advances	1,463.8	1,278	$ 1,644.5
North America
Disaggregation of Revenue [Line Items]
Revenue	1,839	1,972.5
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue	1,724.6	1,868.1
Latin America
Disaggregation of Revenue [Line Items]
Revenue	67.7	63.2
Europe
Disaggregation of Revenue [Line Items]
Revenue	992	941
Middle East and Africa
Disaggregation of Revenue [Line Items]
Revenue	81.9	50.2
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	429.7	400
Advertising & Media
Disaggregation of Revenue [Line Items]
Revenue	1,769.4	2,003.7
Precision Marketing
Disaggregation of Revenue [Line Items]
Revenue	336.1	269.5
Commerce & Brand Consulting
Disaggregation of Revenue [Line Items]
Revenue	237.9	214.5
Experiential
Disaggregation of Revenue [Line Items]
Revenue	142.5	88.4
Execution & Support
Disaggregation of Revenue [Line Items]
Revenue	254.3	246.6
Public Relations
Disaggregation of Revenue [Line Items]
Revenue	360.9	317.5
Healthcare
Disaggregation of Revenue [Line Items]
Revenue	$ 309.2	$ 286.7

Net Income per Share (Details)

Net Income per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Net Income per Share [Abstract]
Net Income - Omnicom Group Inc.	$ 173.8	$ 287.8
Weighted Average Shares:
Basic	208.3	215.6
Dilutive stock options and restricted shares	1.5	1.2
Diluted	209.8	216.8
Anti-dilutive stock options and restricted shares	0.5	0.7
Net Income per Share - Omnicom Group Inc.:
Basic	$ 0.83	$ 1.33
Diluted	$ 0.83	$ 1.33

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Gross Carrying Value	$ 10,466.6		$ 10,259.6
Goodwill, Accumulated Amortization	(514.7)		(521)
Goodwill, Net Carrying Value	9,951.9	$ 9,541.5	9,738.6
Intangible assets:
Intangible assets:, Gross Carrying Value	1,154.7		1,154.5
Intangible assets:, Accumulated Amortization	(821.7)		(856.5)
Intangible assets:, Net Carrying Value	333		298
Changes in Goodwill
Goodwill, January 1	9,738.6	9,609.7
Goodwill, Acquisitions	215.2	0
Goodwill, Noncontrolling interests in acquired businesses	47.8	0
Goodwill, Dispositions	(19.4)	0
Goodwill, Foreign currency translation	(30.3)	(68.2)
Goodwill, March 31	9,951.9	$ 9,541.5
Purchased and internally developed software
Intangible assets:
Intangible assets:, Gross Carrying Value	375.5		382.2
Intangible assets:, Accumulated Amortization	(314.6)		(318.7)
Intangible assets:, Net Carrying Value	60.9		63.5
Customer related and other
Intangible assets:
Intangible assets:, Gross Carrying Value	779.2		772.3
Intangible assets:, Accumulated Amortization	(507.1)		(537.8)
Intangible assets:, Net Carrying Value	$ 272.1		$ 234.5

Debt (Details)

Debt (Details) € in Millions, £ in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022USD ($)	Mar. 31, 2022EUR (€)	Mar. 31, 2022GBP (£)	Dec. 31, 2021USD ($)
Short-Term Borrowings [Abstract]
Short-term debt	$ 12.4			$ 9.6
Long-Term Debt [Abstract]
Long-term debt, carrying amount	5,685.9			5,727
Unamortized discount	(10.2)			(10.8)
Unamortized debt issuance costs	(30.4)			(31.8)
Unamortized deferred gain from settlement of interest rate swaps	1.1			1.3
Long-term debt	5,646.4			5,685.7
Credit Facility [Member]
Credit Facilities [Abstract]
Credit Facilities, maximum borrowing capacity	$ 2,500
Credit Facilities, expiration date	Feb. 14, 2025
Credit Facilities, amount outstanding	$ 0
Credit Facilities, covenant terms	The Credit Facility contains a financial covenant that requires us to maintain a Leverage Ratio of consolidated indebtedness to consolidated EBITDA (earnings before interest, taxes, depreciation, amortization and non-cash charges) of no more than 3.0 times for the most recently ended 12-month period.
Credit Facilities, covenant compliance	At March 31, 2022, we were in compliance with this covenant as our Leverage Ratio was 2.4 times.
Uncommitted credit lines [Member]
Credit Facilities [Abstract]
Credit Facilities, maximum borrowing capacity	$ 807.5
Credit Facilities, amount outstanding	0
Commercial Paper [Member]
Credit Facilities [Abstract]
Credit Facilities, maximum borrowing capacity	2,000
Credit Facilities, amount outstanding	0
Euro Commercial Paper [Member]
Credit Facilities [Abstract]
Credit Facilities, maximum borrowing capacity	500
Credit Facilities, amount outstanding	0
3.65% Senior Notes due 2024
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 750			750
Long-term debt, interest rate	3.65%	3.65%	3.65%
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%	3.60%	3.60%
€500 million 0.80% Senior Notes due 2027
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 554.7	€ 500		568.6
Long-term debt, interest rate	0.80%	0.80%	0.80%
2.45% Senior Notes due 2030
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 600			600
Long-term debt, interest rate	2.45%	2.45%	2.45%
4.20% Senior Notes due 2030
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 600			600
Long-term debt, interest rate	4.20%	4.20%	4.20%
€500 million 1.40% Senior Notes due 2031
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 554.7	€ 500		568.6
Long-term debt, interest rate	1.40%	1.40%	1.40%
2.60% Senior Notes due 2031
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 800			800
Long-term debt, interest rate	2.60%	2.60%	2.60%
£325 million 2.25% Senior Notes due 2033
Long-Term Debt [Abstract]
Long-term debt, carrying amount	$ 426.5		£ 325	$ 439.8
Long-term debt, interest rate	2.25%	2.25%	2.25%

Segment Reporting (Details)

Segment Reporting (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenue and Long-Lived Assets and Goodwill by Geographic Region
Revenue	$ 3,410.3	$ 3,426.9
Americas
Revenue and Long-Lived Assets and Goodwill by Geographic Region
Revenue	1,906.7	2,035.7
Long-lived assets and goodwill	7,896.2	7,562.7
EMEA
Revenue and Long-Lived Assets and Goodwill by Geographic Region
Revenue	1,073.9	991.2
Long-lived assets and goodwill	3,532.6	3,074.7
Asia-Pacific
Revenue and Long-Lived Assets and Goodwill by Geographic Region
Revenue	429.7	400
Long-lived assets and goodwill	$ 698	$ 644.8

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Taxes [Abstract]
Effective tax rate	37.20%	26.80%
Charges arising from the effects of the war in Ukraine	$ 113.4	$ 0
Income tax expense related to charges arising from the effects of the war in Ukraine	4.8
Unrecognized tax benefits	163.5
Unrecognized tax benefits that would impact effective tax rate	$ 157.9

Pension and Other Postemploym_3

Pension and Other Postemployment Benefits (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Defined Benefit Pension Plans [Member]
Components of Net Periodic Benefit Expense
Service cost	$ 0.8	$ 1.4
Interest cost	1	0.8
Expected return on plan assets	(0.3)	(0.2)
Amortization of prior service cost	0.1	0.2
Amortization of actuarial losses	1	2.3
Net periodic benefit expense	2.6	4.5
Employer contributions	0.2	0.2
Postemployment Arrangements [Member]
Components of Net Periodic Benefit Expense
Service cost	1.1	1.2
Interest cost	0.7	0.5
Amortization of prior service cost	0.9	1
Amortization of actuarial losses	0.6	1
Net periodic benefit expense	$ 3.3	$ 3.7

Charges Arising from the Effe_2

Charges Arising from the Effects of the War in Ukraine (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Charges arising from the effects of the war in Ukraine [Abstract]
Charges arising from the effects of the war in Ukraine	$ 113.4	$ 0
Cash charges related to the effects of the war in Ukraine	$ 47.6

Supplemental Cash Flow Data (De

Supplemental Cash Flow Data (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Change in Operating Capital [Abstract]
(Increase) decrease in accounts receivable	$ 1,142.2	$ 1,095.5
(Increase) decrease in work in process and other current assets	(248.1)	(55.3)
Increase (decrease) in accounts payable	(1,755.4)	(1,953.8)
Increase (decrease) in customer advances, taxes payable and other current liabilities	12.2	63
Change in other assets and liabilities, net	(35.1)	7.1
Increase (decrease) in operating capital	(884.2)	(843.5)
Income taxes paid	49.9	42.7
Interest paid	14.1	5.3
Operating leases, Net increase in lease liability	76.3	38.7
Finance leases, Net increase in lease liability	$ 17	$ 11.7

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Changes in Accumulated Other Comprehensive Income (Loss)
January 1	$ (1,252.3)	$ (1,213.8)
Other comprehensive income (loss) before reclassifications	27.4	(36.1)
Reclassification from accumulated other comprehensive income (loss)	2.3	3.7
March 31	(1,222.6)	(1,246.2)
Cash Flow Hedge
Changes in Accumulated Other Comprehensive Income (Loss)
January 1	(16.1)	(20.1)
Other comprehensive income (loss) before reclassifications	0	0
Reclassification from accumulated other comprehensive income (loss)	1	1
March 31	(15.1)	(19.1)
Defined Benefit Pension Plans and Postemployment Arrangements
Changes in Accumulated Other Comprehensive Income (Loss)
January 1	(90.4)	(123.2)
Other comprehensive income (loss) before reclassifications	0	0
Reclassification from accumulated other comprehensive income (loss)	1.3	2.7
March 31	(89.1)	(120.5)
Foreign Currency Translation
Changes in Accumulated Other Comprehensive Income (Loss)
January 1	(1,145.8)	(1,070.5)
Other comprehensive income (loss) before reclassifications	27.4	(36.1)
Reclassification from accumulated other comprehensive income (loss)	0	0
March 31	$ (1,118.4)	$ (1,106.6)

Fair Value (Details)

Fair Value (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Assets:
Short-term investments	$ 92.7		$ 0
Carrying Amount
Assets:
Cash and cash equivalents	3,925.5		5,316.8
Short-term investments	92.7		0
Marketable equity securities	0.9		1.1
Non-marketable equity securities	5.6		6.5
Foreign currency derivatives	0		0.3
Liabilities:
Short-term debt	12.4		9.6
Foreign currency derivatives	0		0.1
Contingent purchase price obligations	160.6		167.1
Long-term debt	5,646.4		5,685.7
Fair Value
Assets:
Cash and cash equivalents	3,925.5		5,316.8
Short-term investments	92.7		0
Marketable equity securities	0.9		1.1
Non-marketable equity securities	5.6		6.5
Foreign currency derivatives	0		0.3
Liabilities:
Short-term debt	12.4		9.6
Foreign currency derivatives	0		0.1
Contingent purchase price obligations	160.6		167.1
Long-term debt	5,561.3		6,011.6
Contingent purchase price obligations
Changes in Contingent Purchase Price Obligations [Roll Forward]
January 1	167.1	$ 71.9
Acquisitions	0.5	1.3
Revaluation and interest	0.2	0.4
Payments	(6)	(5.4)
Foreign currency translation	(1.2)	(0.5)
March 31	160.6	$ 67.7
Fair Value, Recurring [Member]
Assets:
Cash and cash equivalents	3,925.5		5,316.8
Short-term investments	92.7
Marketable equity securities	0.9		1.1
Foreign currency derivatives			0.3
Liabilities:
Foreign currency derivatives			0.1
Contingent purchase price obligations	160.6		167.1
Fair Value, Recurring [Member] | Level 1
Assets:
Cash and cash equivalents	3,925.5		5,316.8
Marketable equity securities	0.9		1.1
Fair Value, Recurring [Member] | Level 2
Assets:
Short-term investments	92.7
Foreign currency derivatives			0.3
Liabilities:
Foreign currency derivatives			0.1
Fair Value, Recurring [Member] | Level 3
Liabilities:
Contingent purchase price obligations	$ 160.6		$ 167.1