The Interpublic Group of Companies, Inc. (IPG) 10-Q 26 Jul 23 2023 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2023	Jul. 18, 2023
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	1-6686
Entity Registrant Name	INTERPUBLIC GROUP OF COMPANIES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1024020
Entity Address, Address Description	909 Third Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
Area Code	(212)
Local Phone Number	704-1200
Title of each class	Common Stock, par value $0.10 per share
Trading Symbol	IPG
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000051644
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		384,934,698

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
REVENUE:
Net revenue	$ 2,328.5	$ 2,375.5	$ 4,505.4	$ 4,602.7
Billable expenses	338	360.2	682.1	701.5
Total revenue	2,666.5	2,735.7	5,187.5	5,304.2
OPERATING EXPENSES:
Salaries and related expenses	1,598.6	1,590.2	3,175.9	3,154.6
Office and other direct expenses	340.5	349.8	670.8	673.2
Billable expenses	338	360.2	682.1	701.5
Cost of services	2,277.1	2,300.2	4,528.8	4,529.3
Selling, general and administrative expenses	13.9	19.4	26.8	38.7
Depreciation and amortization	66.5	67.1	133	134.9
Restructuring charges	(1.7)	(0.1)	(0.1)	6.5
Total operating expenses	2,355.8	2,386.6	4,688.5	4,709.4
OPERATING INCOME	310.7	349.1	499	594.8
EXPENSES AND OTHER INCOME:
Interest expense	(63.2)	(41)	(119)	(80.4)
Interest income	35.5	11.2	75.7	21
Other Expense, Net	(4.4)	(4.5)	(11.1)	(10.7)
Total (expenses) and other income	(32.1)	(34.3)	(54.4)	(70.1)
Income before income taxes	278.6	314.8	444.6	524.7
Provision for income taxes	10.6	83.7	44.4	132.8
Income of consolidated companies	268	231.1	400.2	391.9
Equity in net income of unconsolidated affiliates	0.7	0.7	0.6	0.8
NET INCOME	268.7	231.8	400.8	392.7
Net income attributable to noncontrolling interests	(3.2)	(2.2)	(9.3)	(3.7)
NET INCOME AVAILABLE TO IPG COMMON STOCKHOLDERS	$ 265.5	$ 229.6	$ 391.5	$ 389
Earnings per share, Basic	$ 0.69	$ 0.58	$ 1.01	$ 0.99
Earnings per share, Diluted	$ 0.68	$ 0.58	$ 1.01	$ 0.98
Weighted-average number of common shares outstanding, Basic	385.7	393.1	385.8	393.8
Weighted-average number of common shares outstanding, Diluted	387.7	396.8	387.6	397.5

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
NET INCOME	$ 268.7	$ 231.8	$ 400.8	$ 392.7
Foreign currency translation:
Foreign currency translation adjustments	9.2	(108.9)	31.5	(112.5)
Reclassification adjustments recognized in net income	0.5	1.8	0.5	1.8
Foreign currency transaction and translation adjustment, net of tax	9.7	(107.1)	32	(110.7)
Derivative Instrument:
Changes in fair value of derivative instruments	3.4	6.7	0.6	12.6
Recognition of previously unrealized gain in net income	(0.2)	(0.4)	(0.6)	(0.7)
Income tax effect	(0.8)	(1.6)	0	(3)
Net unrecognized gains on derivative instruments, net of tax	2.4	4.7	0	8.9
Defined benefit pension and other postretirement plans:
Net actuarial gains for the period	0.8	4	2.7	3.4
Amortization of unrecognized losses, transition obligation and prior service cost included in net income	1.7	1.6	3.4	3.3
Other	0	0.1	0.4	0
Income tax effect	(0.6)	(1.2)	(1)	(0.6)
Defined benefit pension and other postretirement plans adjustment, net of tax	1.9	4.5	5.5	6.1
Other comprehensive loss, net of tax	14	(97.9)	37.5	(95.7)
TOTAL COMPREHENSIVE INCOME	282.7	133.9	438.3	297
Less: comprehensive income attributable to noncontrolling interests	3.3	0.9	9.1	2.7
COMPREHENSIVE INCOME ATTRIBUTABLE TO IPG	$ 279.4	$ 133	$ 429.2	$ 294.3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 1,628.1	$ 2,545.3
Accounts receivable, net of allowance of $47.7 and $48.6, respectively	4,170	5,316
Accounts receivable, billable to clients	2,215.9	2,023
Marketable Securities, Current	102.8	1.1
Prepaid Expense, Current	456.9	354.1
Assets held for sale	6	5.9
Other current assets	61.3	79.8
Total current assets	8,641	10,325.2
Property and equipment, net of accumulated depreciation and amortization of $1,234.8 and $1,244.8, respectively	629.6	637.4
Deferred Income Tax Assets, Net	287	271.7
Goodwill	5,078.4	5,050.6
Other intangible assets	785.9	818.1
Operating lease right-of-use asset	1,240.7	1,277.5
Other non-current assets	447.4	464.5
TOTAL ASSETS	17,110	18,845
LIABILITIES:
Accounts payable	6,573.2	8,235.3
Accrued liabilities	562.3	787.1
Contract liabilities	690.5	680
Short-term borrowings	30.2	44.3
Current portion of long-term debt	250.3	0.6
Current portion of operating leases	243.5	235.9
Liabilities held for sale	5.3	0
Total current liabilities	8,355.3	9,983.2
Long-term debt	2,915.4	2,870.7
Non-current operating leases	1,316.9	1,380.1
Deferred compensation	215.6	294.1
Other non-current liabilities	515.5	572.6
TOTAL LIABILITIES	13,318.7	15,100.7
Redeemable noncontrolling interests	45.5	38.3
STOCKHOLDERS' EQUITY:
Common stock	39.2	38.9
Additional paid-in capital	1,035.2	1,057.5
Retained earnings	3,782.8	3,632.1
Accumulated other comprehensive loss, net of tax	(922.7)	(960.4)
Stockholders' Equity before Treasury Stock	3,934.5	3,768.1
Treasury Stock, Value	(248.2)	(120.2)
Total IPG stockholders' equity	3,686.3	3,647.9
Noncontrolling interests	59.5	58.1
TOTAL STOCKHOLDERS' EQUITY	3,745.8	3,706
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	17,110	18,845
Parentheticals:
Allowance for doubtful accounts receivable	47.7	48.6
Accumulated depreciation, property and equipment	$ 1,234.8	$ 1,244.8

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 400.8	$ 392.7
Adjustments to Reconcile Net Income to Cash Used in Operating Activities
Deferred income tax	(29)	(0.1)
Net amortization of bond discounts and deferred financing costs	1.4	1.4
Provision for uncollectible receivables	3.2	(6)
Net losses on sales of businesses	6.8	7.1
Amortization of restricted stock and other non-cash compensation	23.9	25.3
Depreciation and amortization	133	134.9
Other	13.4	19.3
Changes in assets and liabilities, net of acquisitions and divestitures, providing (using) cash:
Accounts receivable	1,187.7	970.4
Accounts receivable, billable to clients	164.5	(35.4)
Other current assets	(72.3)	(112.9)
Accounts payable	(1,717.2)	(1,838.2)
Accrued liabilities	(214.8)	(302.3)
Contract liabilities	4.7	0.1
Other non-current assets and liabilities	(159.9)	(51.5)
Net cash used in operating activities	(582.8)	(724.4)
CASH FLOWS FROM INVESTING ACTIVITIES:
Payments to Acquire Marketable Securities	97.6	0
Capital expenditures	(79.3)	(72.3)
Deconsolidation of a subsidiary	0	20.4
Acquisitions, net of cash acquired	6.3	0
Net proceeds from investments	(21.7)	(2.6)
Other investing activities	5.8	0.3
Net cash used in investing activities	(155.7)	(89.8)
CASH FLOWS FROM FINANCING ACTIVITIES:
Common stock dividends	(242.6)	(232.1)
Repurchases of Common Stock	(128)	(147.9)
Tax payments for employee shares withheld	(58)	(39.6)
Net decrease in short-term borrowings	(11)	(12.1)
Acquisition-related payments	(10.1)	(6)
Distributions to noncontrolling interests	(8.5)	(5.2)
Proceeds from Issuance of Long-term Debt	(296.3)	0
Other financing activities	(2.6)	(0.2)
Net cash used in financing activities	(164.5)	(443.1)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(13.7)	(28.8)
Net decrease in cash, cash equivalents and restricted cash	(916.7)	(1,286.1)
Cash, cash equivalents, and restricted cash at beginning of period	2,553.1	3,272.2
Cash, cash equivalents, and restricted cash at end of period	$ 1,636.4	$ 1,986.1

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock, Shares	Common Stock, Amount	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Loss, Net of Tax	Treasury Stock [Member]	Total IPG Stockholders' Equity	Noncontrolling Interests
Common Stock, shares		394.3
Balance at Dec. 31, 2021	$ 3,589.2		$ 39.3	$ 1,226.6	$ 3,154.3	$ (894.2)	$ 0	$ 3,526	$ 63.2
Net income	392.7
Net income available to IPG common stockholders	389				389			389
Net income attributable to noncontrolling interest	3.7								3.7
Other comprehensive loss	(95.7)					(94.7)		(94.7)
Other comprehensive loss, attributable to noncontrolling interest									(1)
Reclassifications related to redeemable noncontrolling interests	2.3			3.1				3.1	(0.8)
Distributions to noncontrolling interests	(5.2)								5.2
Change in redemption value of redeemable noncontrolling interests	(1.3)				(1.3)			(1.3)
Repurchases of Common Stock	(147.9)						(147.9)	(147.9)
Common stock dividends	(230.2)				(230.2)			(230.2)
Stock-based compensation, shares		3.1
Stock-based compensation, value	36.6		0.4	36.2				36.6
Shares withheld for taxes, shares		(1)
Shares withheld for taxes, value	(38.2)		0.1	38.1				38.2
Other	8.7			(0.5)				0.5	9.2
Balance at Jun. 30, 2022	3,489		39.6	1,222.1	3,311.8	(988.9)	(147.9)	3,436.7	52.3
Common Stock, shares		396.1
Balance at Mar. 31, 2022	3,548.8		39.7	1,206	3,196.7	(892.3)	(63.1)	3,487	61.8
Net income	231.8
Net income available to IPG common stockholders	229.6				229.6			229.6
Net income attributable to noncontrolling interest	2.2								2.2
Other comprehensive loss	(97.9)					(96.6)		(96.6)
Other comprehensive loss, attributable to noncontrolling interest									(1.3)
Reclassifications related to redeemable noncontrolling interests	1			1.9				1.9	(0.9)
Distributions to noncontrolling interests	(2.1)								2.1
Change in redemption value of redeemable noncontrolling interests	0.1				0.1			0.1
Repurchases of Common Stock	(84.8)						(84.8)	(84.8)
Common stock dividends	(114.6)				(114.6)			(114.6)
Stock-based compensation, shares		0.3
Stock-based compensation, value	18.6		(0.1)	18.7				18.6
Shares withheld for taxes, value	(1.2)			1.2				1.2
Other	8.7			(0.5)				0.5	9.2
Balance at Jun. 30, 2022	3,489		39.6	1,222.1	3,311.8	(988.9)	(147.9)	3,436.7	52.3
Common Stock, shares		396.4
Common Stock, shares		389.6
Balance at Dec. 31, 2022	3,706		38.9	1,057.5	3,632.1	(960.4)	(120.2)	3,647.9	58.1
Net income	400.8
Net income available to IPG common stockholders	391.5				391.5			391.5
Net income attributable to noncontrolling interest	9.3								9.3
Other comprehensive loss	37.5					37.7		37.7
Other comprehensive loss, attributable to noncontrolling interest									(0.2)
Reclassifications related to redeemable noncontrolling interests	(0.1)								(0.1)
Distributions to noncontrolling interests	(8.5)								8.5
Repurchases of Common Stock	(128)						(128)	(128)
Common stock dividends	(240.8)				(240.8)			(240.8)
Stock-based compensation, shares		4
Stock-based compensation, value	36.8		0.4	36.4				36.8
Shares withheld for taxes, shares		(1.6)
Shares withheld for taxes, value	(58.8)		0.1	58.7				58.8
Other	0.7								(0.7)
Balance at Jun. 30, 2023	3,745.8		39.2	1,035.2	3,782.8	(922.7)	(248.2)	3,686.3	59.5
Common Stock, shares		391.8
Balance at Mar. 31, 2023	3,620		39.1	1,016.7	3,638.1	(936.6)	(198)	3,559.3	60.7
Net income	268.7
Net income available to IPG common stockholders	265.5				265.5			265.5
Net income attributable to noncontrolling interest	3.2								3.2
Other comprehensive loss	14					13.9		13.9
Other comprehensive loss, attributable to noncontrolling interest									0.1
Reclassifications related to redeemable noncontrolling interests	(0.4)								(0.4)
Distributions to noncontrolling interests	(5.4)								5.4
Repurchases of Common Stock	(50.2)						(50.2)	(50.2)
Common stock dividends	(120.8)				(120.8)			(120.8)
Stock-based compensation, shares		0.2
Stock-based compensation, value	18.6		0	18.6				18.6
Shares withheld for taxes, shares		0
Shares withheld for taxes, value	0		(0.1)	0.1				0
Other	0.5								(0.5)
Balance at Jun. 30, 2023	$ 3,745.8		$ 39.2	$ 1,035.2	$ 3,782.8	$ (922.7)	$ (248.2)	$ 3,686.3	$ 59.5
Common Stock, shares		392

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The unaudited Consolidated Financial Statements have been prepared by The Interpublic Group of Companies, Inc. and its subsidiaries (the “Company,” “IPG,” “we,” “us” or “our”) in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”) for reporting interim financial information on Form 10-Q. Accordingly, they do not include certain information and disclosures required for complete financial statements. The effects of heightened macroeconomic uncertainty have impacted and may continue to impact our results of operations, cash flows and financial position. The Company’s Consolidated Financial Statements presented herein reflect the latest estimates and assumptions made by management that affect the reported amounts of assets and liabilities and related disclosures as of the date of the consolidated financial statements and reported amounts of revenue and expenses during the reporting periods presented. The Company believes it has used reasonable estimates and assumptions to assess the fair values of goodwill, long-lived assets and indefinite-lived intangible assets; assessment of the annual effective tax rate; valuation of deferred income taxes and allowance for expected credit losses on future uncollectible accounts receivable. Actual results could differ from these estimates and assumptions. The consolidated results for interim periods are not necessarily indicative of results for the full year and should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Annual Report”). We conduct our business across three reportable segments described in Note 10. The three reportable segments are: Media, Data & Engagement Solutions ("MD&E"), Integrated Advertising & Creativity Led Solutions ("IA&C"), and Specialized Communications & Experiential Solutions ("SC&E"). Cost of services is comprised of the expenses of our revenue-producing reportable segments, MD&E, IA&C, and SC&E, including salaries and related expenses, office and other direct expenses and billable expenses, and includes an allocation of the centrally managed expenses from our "Corporate and Other" group. Office and other direct expenses include rent expense, professional fees, certain expenses incurred by our staff in servicing our clients and other costs directly attributable to client engagements. Selling, general and administrative expenses are primarily the unallocated expenses from Corporate and Other, excluding depreciation and amortization. Depreciation and amortization of fixed assets and intangible assets of the Company is disclosed as a separate operating expense. Restructuring charges in 2023 consist of adjustments to the Company's restructuring actions taken in 2022 and 2020, and primarily relate to real estate actions which were designed to reduce our real estate footprint and to better align our cost structure with revenue, as discussed further in Note 5. In the opinion of management, these unaudited Consolidated Financial Statements include all adjustments, consisting only of normal and recurring adjustments necessary for a fair statement of the information for each period contained therein. Certain reclassifications have been made to prior-period financial statements to conform to the current-period presentation, including the recast of certain prior period amounts to reflect the transfer of certain agencies between reportable segments.

Revenue (Notes)

Revenue (Notes)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue	Revenue Disaggregation of Revenue We have three reportable segments as of June 30, 2023: MD&E, IA&C and SC&E, as further discussed in Note 10. MD&E principally generates revenue from providing global media and communications services, digital services and products, advertising and marketing technology, e‐commerce services, data management and analytics, strategic consulting, and digital brand experience. IA&C principally generates revenue from providing advertising, corporate and brand identity services, and strategic consulting. SC&E generates revenue from providing best-in-class global public relations and communications services, events, sports and entertainment marketing, and strategic consulting. Our agencies are located in over 100 countries, including every significant world market. Our geographic revenue breakdown is listed below. Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 1,737.2 $ 1,777.1 $ 3,420.4 $ 3,427.5 International: United Kingdom 216.3 219.2 412.1 451.3 Continental Europe 214.8 221.1 408.4 425.8 Asia Pacific 211.7 217.8 403.6 433.1 Latin America 110.4 110.0 201.1 204.4 Other 176.1 190.5 341.9 362.1 Total International 929.3 958.6 1,767.1 1,876.7 Total Consolidated $ 2,666.5 $ 2,735.7 $ 5,187.5 $ 5,304.2 Three months ended Six months ended Revenue before billable expenses: 2023 2022 2023 2022 United States $ 1,531.8 $ 1,554.9 $ 3,002.4 $ 3,025.0 International: United Kingdom 184.9 184.8 355.1 367.2 Continental Europe 192.5 199.8 356.2 379.1 Asia Pacific 177.3 187.8 336.5 362.4 Latin America 102.4 101.9 187.1 189.6 Other 139.6 146.3 268.1 279.4 Total International 796.7 820.6 1,503.0 1,577.7 Total Consolidated $ 2,328.5 $ 2,375.5 $ 4,505.4 $ 4,602.7 MD&E Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 674.5 $ 676.0 $ 1,322.8 $ 1,316.3 International 395.7 413.0 729.2 769.5 Total MD&E $ 1,070.2 $ 1,089.0 $ 2,052.0 $ 2,085.8 Revenue before billable expenses: United States $ 670.8 $ 663.1 $ 1,306.7 $ 1,291.6 International 384.7 402.2 709.6 747.4 Total MD&E $ 1,055.5 $ 1,065.3 $ 2,016.3 $ 2,039.0 IA&C Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 644.8 $ 670.8 $ 1,268.5 $ 1,303.6 International 365.8 385.0 706.2 764.8 Total IA&C $ 1,010.6 $ 1,055.8 $ 1,974.7 $ 2,068.4 Revenue before billable expenses: United States $ 609.0 $ 645.1 $ 1,202.7 $ 1,250.8 International 304.7 316.7 586.6 627.9 Total IA&C $ 913.7 $ 961.8 $ 1,789.3 $ 1,878.7 SC&E Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 417.9 $ 430.3 $ 829.1 $ 807.6 International 167.8 160.6 331.7 342.4 Total SC&E $ 585.7 $ 590.9 $ 1,160.8 $ 1,150.0 Revenue before billable expenses: United States $ 252.0 $ 246.7 $ 493.0 $ 482.6 International 107.3 101.7 206.8 202.4 Total SC&E $ 359.3 $ 348.4 $ 699.8 $ 685.0 Contract Balances The following table provides information about receivables, contract assets and contract liabilities from contracts with customers. June 30, December 31, Accounts receivable, net of allowance of $47.7 and $48.6, respectively $ 4,170.0 $ 5,316.0 Accounts receivable, billable to clients 2,215.9 2,023.0 Contract assets 45.3 67.4 Contract liabilities (deferred revenue) 690.5 680.0 Contract assets are primarily comprised of contract incentives that are generally satisfied annually under the terms of our contracts and are transferred to accounts receivable when the right to payment becomes unconditional. Contract liabilities relate to advance consideration received from customers under the terms of our contracts primarily related to reimbursements of third-party expenses, whether we act as principal or agent, and to a lesser extent, periodic retainer fees, both of which are generally recognized shortly after billing. The majority of our contracts are for periods of one year or less with the exception of our data management contracts. For those contracts with a term of more than one year, we had approximately $862.3 of unsatisfied performance obligations as of June 30, 2023, which will be recognized as services are performed over the remaining contractual terms through 2028.

Debt and Credit Arrangements (N

Debt and Credit Arrangements (Notes)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt and Credit Arrangements	Debt and Credit Arrangements Long-Term Debt A summary of the carrying amounts of our long-term debt is listed below. Effective June 30, December 31, 4.200% Senior Notes due 2024 (less unamortized discount and issuance costs of $0.0 and $0.2, respectively) 4.240% $ 249.8 $ 249.7 4.650% Senior Notes due 2028 (less unamortized discount and issuance costs of $1.0 and $2.3, respectively) 4.780% 496.7 496.4 4.750% Senior Notes due 2030 (less unamortized discount and issuance costs of $2.8 and $4.1, respectively) 4.920% 643.1 642.6 2.400% Senior Notes due 2031 (less unamortized discount and issuance costs of $0.6 and $3.6, respectively) 2.512% 495.8 495.5 5.375% Senior Notes due 2033 (less unamortized discount and issuance costs of $3.7 and $3.3, respectively) 5.650% 293.0 — 3.375% Senior Notes due 2041 (less unamortized discount and issuance costs of $1.0 and $5.1, respectively) 3.448% 493.9 493.7 5.400% Senior Notes due 2048 (less unamortized discount and issuance costs of $2.6 and $4.7, respectively) 5.480% 492.7 492.6 Other notes payable and finance leases 0.7 0.8 Total long-term debt 3,165.7 2,871.3 Less: current portion 250.3 0.6 Long-term debt, excluding current portion $ 2,915.4 $ 2,870.7 As of June 30, 2023 and December 31, 2022, the estimated fair value of the Company's long-term debt was $2,892.7 and $2,552.3, respectively. Refer to Note 11 for details. Debt Transactions 5.375% Senior Notes due 2033 On June 8, 2023, we issued a total of $300.0 in aggregate principal amount of 5.375% unsecured senior notes (the "5.375% Senior Notes") due June 15, 2033. Upon issuance, the 5.375% Senior Notes were reflected in our unaudited Consolidated Balance Sheets at $292.9, net of discount of $3.8 and net of capitalized debt issuance costs, including commissions and offering expenses of $3.3, both of which will be amortized in interest expense through the maturity date using the effective interest method. Interest is payable semi-annually in arrears on June 15th and December 15th of each year, commencing on December 15, 2023. Credit Agreement We maintain a committed corporate credit facility, originally dated as of July 18, 2008, which has been amended and restated from time to time (the "Credit Agreement"). We use our Credit Agreement to increase our financial flexibility, to provide letters of credit primarily to support obligations of our subsidiaries and to support our commercial paper program. On November 1, 2021, we amended and restated the Credit Agreement. As amended, among other things, the maturity date of the Credit Agreement was extended to November 1, 2026 and the cost structure of the Credit Agreement was changed. The Credit Agreement continues to include a required leverage ratio of not more than 3.50 to 1.00, among other customary covenants, including limitations on our liens and the liens of our consolidated subsidiaries and limitations on the incurrence of subsidiary debt. At the election of the Company, the leverage ratio may be changed to not more than 4.00 to 1.00 for four consecutive quarters, beginning with the fiscal quarter in which there is an occurrence of one or more acquisitions with an aggregate purchase price of at least $200.0. The Credit Agreement is a revolving facility, under which amounts borrowed by us or any of our subsidiaries designated under the Credit Agreement may be repaid and reborrowed, subject to an aggregate lending limit of $1,500.0, or the equivalent in other currencies. The Company has the ability to increase the commitments under the Credit Agreement from time to time by an additional amount of up to $250.0, provided the Company receives commitments for such increases and satisfies certain other conditions. The aggregate available amount of letters of credit outstanding may decrease or increase, subject to a sublimit of $50.0, or the equivalent in other currencies. Our obligations under the Credit Agreement are unsecured. As of June 30, 2023, there were no borrowings under the Credit Agreement; however, we had $9.6 of letters of credit under the Credit Agreement, which reduced our total availability to $1,490.4. We were in compliance with all of our covenants in the Credit Agreement as of June 30, 2023. Uncommitted Lines of Credit We also have uncommitted lines of credit with various banks that permit borrowings at variable interest rates and that are primarily used to fund working capital needs. We have guaranteed the repayment of some of these borrowings made by certain subsidiaries. If we lose access to these credit lines, we would have to provide funding directly to some of our operations. As of June 30, 2023, the Company had uncommitted lines of credit in an aggregate amount of $879.0, under which we had outstanding borrowings of $30.2 classified as short-term borrowings on our Consolidated Balance Sheet. The average amount outstanding during the second quarter of 2023 was $42.1 with a weighted-average interest rate of approximately 6.1%. Commercial Paper The Company is authorized to issue unsecured commercial paper up to a maximum aggregate amount outstanding at any time of $1,500.0. Borrowings under the program are supported by the Credit Agreement described above. Proceeds of the commercial paper are used for working capital and general corporate purposes, including the repayment of maturing indebtedness and other short-term liquidity needs. The maturities of the commercial paper vary but may not exceed 397 days from the date of issue. During the second quarter of 2023, there was no commercial paper activity and, as of June 30, 2023, there was no commercial paper outstanding.

Earnings Per Share (Notes)

Earnings Per Share (Notes)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	Earnings Per Share The following sets forth basic and diluted earnings per common share available to IPG common stockholders. Three Months Ended June 30, Six months ended 2023 2022 2023 2022 Net income available to IPG common stockholders $ 265.5 $ 229.6 $ 391.5 $ 389.0 Weighted-average number of common shares outstanding - basic 385.7 393.1 385.8 393.8 Dilutive effect of stock options and restricted shares 2.0 3.7 1.8 3.7 Weighted-average number of common shares outstanding - diluted 387.7 396.8 387.6 397.5 Earnings per share available to IPG common stockholders: Basic $ 0.69 $ 0.58 $ 1.01 $ 0.99 Diluted $ 0.68 $ 0.58 $ 1.01 $ 0.98

Supplementary Data (Notes)

Supplementary Data (Notes)	6 Months Ended
	Jun. 30, 2023
Supplementary Data [Abstract]
Accrued Liabilities	Accrued Liabilities The following table presents the components of accrued liabilities. June 30, December 31, Salaries, benefits and related expenses $ 408.2 $ 554.0 Interest 42.5 37.3 Income taxes payable 16.2 64.7 Office and related expenses 19.1 28.9 Acquisition obligations 8.6 18.7 Restructuring charges 0.8 2.2 Other 66.9 81.3 Total accrued liabilities $ 562.3 $ 787.1
Other Income, Net	Other Expense, Net Results of operations for the three and six months ended June 30, 2023 and 2022 include certain items that are not directly associated with our revenue-producing operations. Three months ended Six months ended 2023 2022 2023 2022 Net losses on sales of businesses $ (2.6) $ (0.7) $ (6.8) $ (7.1) Other (1.8) (3.8) (4.3) (3.6) Total other expense, net $ (4.4) $ (4.5) $ (11.1) $ (10.7) Net losses on sales of businesses – During the three and six months ended June 30, 2023 and 2022, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale within our MD&E, IA&C, and SC&E reportable segments. The businesses sold and held for sale primarily represent unprofitable, non-strategic agencies which are expected to be sold within the next twelve months. Other - During the three months ended June 30, 2023, the amounts recognized were primarily related to pension and postretirement costs and a loss from the sale of an equity investment, partially offset by a gain on remeasurement of equity interests due to a change in ownership. During the six months ended June 30, 2023, the amounts recognized were primarily related to pension and postretirement costs and a reduction to the cash gain from the sale of an equity investment. During the three and six months ended June 30, 2022, the amounts recognized were primarily related to a non-cash loss related to the deconsolidation of a previously consolidated entity in which we maintain an equity interest.
Share Repurchase Program	Share Repurchase Programs
Redeemable Noncontrolling Interest [Table Text Block]	Redeemable Non-controlling Interests Many of our acquisitions include provisions under which the non-controlling equity owners may require us to purchase additional interests in a subsidiary at their discretion. Redeemable non-controlling interests are adjusted quarterly, if necessary, to their estimated redemption value, but not less than their initial fair value. Any adjustments to the redemption value impact retained earnings or additional paid in capital, except for foreign currency translation adjustments. The following table presents changes in our redeemable non-controlling interests. Six months ended 2023 2022 Balance at beginning of period $ 38.3 $ 15.6 Change in related non-controlling interests balance (0.1) (0.8) Changes in redemption value of redeemable non-controlling interests: Additions 7.4 3.1 Redemptions (0.4) (9.4) Redemption value adjustments 0.3 0.9 Balance at end of period $ 45.5 $ 9.4

Income Taxes (Notes)

Income Taxes (Notes)	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the three and six months ended June 30, 2023, our incom e tax expens e was positively impacted by a benefit of $64.2 related to the the settlement of the 2017 and 2018 U.S. Federal income tax audits, as well as excess tax benefits on employee share-based payments, the majority of which were recognized in the first quarter due to the timing of the vesting of awards. We have various tax years under examination by tax authorities in various countries, and in various states, in which we have significant business operations. It is not yet known whether these examinations will, in the aggregate, result in our paying additional taxes. We believe our tax reserves are adequate in relation to the potential for additional assessments in each of the jurisdictions in which we are subject to taxation. We regularly assess the likelihood of additional tax assessments in those jurisdictions and, if necessary, adjust our reserves as additional information or events require. With respect to all tax years open to examination by U.S. federal, various state and local, and non-U.S. tax authorities, we currently anticipate that total unrecognized tax benefits will decrease by an amount between $15.0 and $25.0 in the next twelve months, a portion of which will affect our effective income tax rate, primarily as a result of the settlement of tax examinations and the lapsing of statutes of limitations. We are effectively settled with respect to U.S. federal income tax audits through 2018. With limited exceptions, we are no longer subject to state and local income tax audits for years prior to 2015 or non-U.S. income tax audits for years prior to 2010.

Incentive Compensation Plans (N

Incentive Compensation Plans (Notes)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Additional Disclosure [Abstract]
Incentive Compensation Plans	Incentive Compensation Plans We issue stock-based compensation and cash awards to our employees under various plans established by the Compensation and Leadership Talent Committee of the Board of Directors (the "Compensation Committee") and approved by our stockholders. We issued the following stock-based awards under the 2019 Performance Incentive Plan (the "2019 PIP") during the six months ended June 30, 2023. Awards Weighted-average Restricted stock (units) 1.3 $ 35.76 Performance-based stock (shares) 2.1 $ 26.31 Total stock-based compensation awards 3.4 During the six months ended June 30, 2023, the Compensation Committee granted performance cash awards under the 2019 PIP and restricted cash awards under the 2020 Restricted Cash Plan with a total annual target value of $45.9 and $14.5, respectively. Cash awards are expensed over the vesting period, which is typically three years for performance cash awards and two years or three years for restricted cash awards.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss, Net of Tax (Notes)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Comprehensive Income (Loss) Note [Text Block]	Accumulated Other Comprehensive Loss, Net of Tax The following tables present the changes in accumulated other comprehensive loss, net of tax, by component. Foreign Currency Derivative Defined Benefit Pension and Other Postretirement Plans Total Balance as of December 31, 2022 $ (815.8) $ 35.0 $ (179.6) $ (960.4) Other comprehensive income before reclassifications 31.7 0.6 2.9 35.2 Amount reclassified from accumulated other comprehensive loss, net of tax 0.5 (0.6) 2.6 2.5 Balance as of June 30, 2023 $ (783.6) $ 35.0 $ (174.1) $ (922.7) Foreign Currency Derivative Defined Benefit Pension and Other Postretirement Plans Total Balance as of December 31, 2021 $ (723.2) $ 22.9 $ (193.9) $ (894.2) Other comprehensive (loss) income before reclassifications (111.5) 9.4 3.5 (98.6) Amount reclassified from accumulated other comprehensive loss, net of tax 1.8 (0.5) 2.6 3.9 Balance as of June 30, 2022 $ (832.9) $ 31.8 $ (187.8) $ (988.9) Amounts reclassified from accumulated other comprehensive loss, net of tax, for the three and six months ended June 30, 2023 and 2022 are as follows: Three months ended Six months ended Affected Line Item in the Consolidated Statements of Operations 2023 2022 2023 2022 Foreign currency translation adjustments $ 0.5 $ 1.8 $ 0.5 $ 1.8 Other expense, net Net gain on derivative instruments (0.2) (0.4) (0.6) (0.7) Other expense, net, Interest expense Amortization of defined benefit pension and postretirement plan items 1.7 1.6 3.4 3.3 Other expense, net Tax effect (0.5) (0.2) (0.8) (0.5) Provision for income taxes Total amount reclassified from accumulated other comprehensive loss, net of tax $ 1.5 $ 2.8 $ 2.5 $ 3.9

Employee Benefits (Notes)

Employee Benefits (Notes)	6 Months Ended
	Jun. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Employee Benefits	Employee Benefits We have a defined benefit pension plan that covers certain U.S. employees (the “Domestic Pension Plan”). We also have numerous funded and unfunded plans outside the U.S. The Interpublic Limited Pension Plan in the U.K. is a defined benefit plan and is our most material foreign pension plan in terms of the benefit obligation and plan assets. Some of our domestic and foreign subsidiaries provide postretirement health benefits and life insurance to eligible employees and, in certain cases, their dependents. The domestic postretirement benefit plan is our most material postretirement benefit plan in terms of the benefit o bligation . Certain immaterial foreign pension and postretirement benefit plans have been excluded from the table below. The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below. Domestic Pension Plan Foreign Pension Plans Domestic Postretirement Benefit Plan Three Months Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ 0.0 $ 0.0 $ 0.8 $ 1.2 $ 0.0 $ 0.0 Interest cost 1.0 0.7 3.8 2.3 0.3 0.1 Expected return on plan assets (1.0) (1.1) (4.3) (5.2) 0.0 0.0 Amortization of: Prior service cost 0.0 0.0 0.1 0.1 0.0 0.0 Unrecognized actuarial losses 0.4 0.3 1.2 1.1 0.0 0.1 Net periodic cost $ 0.4 $ (0.1) $ 1.6 $ (0.5) $ 0.3 $ 0.2 Domestic Pension Plan Foreign Pension Plans Domestic Postretirement Benefit Plan Six Months Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ 0.0 $ 0.0 $ 0.6 $ 2.3 $ 0.0 $ 0.0 Interest cost 2.0 1.4 7.9 4.7 0.5 0.3 Expected return on plan assets (2.0) (2.3) (8.5) (10.5) 0.0 0.0 Amortization of: Prior service cost 0.0 0.0 0.1 0.1 0.0 0.0 Unrecognized actuarial losses 0.8 0.7 2.5 2.3 0.0 0.2 Net periodic cost $ 0.8 $ (0.2) $ 2.6 $ (1.1) $ 0.5 $ 0.5 The components of net periodic cost other than the service cost component are included in the line item “Other expense, net” in the Consolidated Statements of Operations. During the six months ended June 30, 2023, we contributed $0.0 and $8.2 of cash to our domestic and foreign pension plans, respectively. For the remainder of 2023, we expect to contribute approximately $0.0 and $8.0 of cash to our domestic and foreign pension plans, respectively.

Segment Information (Notes)

Segment Information (Notes)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting Disclosure	Segment Information As of June 30, 2023, we have three reportable segments: MD&E, IA&C, and SC&E. We also report results for the "Corporate and other" group. MD&E primarily provides, and is distinguished by innovative capabilities and scale in, global media and communications services, digital services and products, advertising and marketing technology, e‐commerce services, data management and analytics, strategic consulting, and digital brand experience. MD&E is comprised of IPG Mediabrands and Acxiom, as well as our digital and commerce specialist agencies, which include MRM, R/GA, and Huge. IA&C primarily provides advertising, corporate and brand identity services, and strategic consulting. IA&C is distinguished by the leading role of complex integrations of ideation and the execution of advertising and creative campaigns across all communications channels that are foundational to client brand identities. IA&C is comprised of leading global networks and agencies that provide a broad range of services, including McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies. SC&E primarily provides best-in-class global public relations and other specialized communications services, events, sports and entertainment marketing, and strategic consulting. SC&E is comprised of agencies that provide a range of marketing services expertise, including Weber Shandwick, Golin, our sports, entertainment, and experiential agencies, and DXTRA Health. In conjunction with the new reporting structure, prior period segment disclosures have been recast to reflect our new reportable segments, as well as the way performance is internally managed and monitored. We continue to evaluate our financial reporting structure, and the profitability measure employed by our chief operating decision maker for allocating resources to operating divisions and assessing operating division performance is segment EBITA. Summarized financial information concerning our reportable segments is shown in the following table. Three months ended Six months ended 2023 2022 2023 2022 Total revenue: MD&E $ 1,070.2 $ 1,089.0 $ 2,052.0 $ 2,085.8 IA&C 1,010.6 1,055.8 1,974.7 2,068.4 SC&E 585.7 590.9 1,160.8 1,150.0 Total $ 2,666.5 $ 2,735.7 $ 5,187.5 $ 5,304.2 Revenue before billable expenses: MD&E $ 1,055.5 $ 1,065.3 $ 2,016.3 $ 2,039.0 IA&C 913.7 961.8 1,789.3 1,878.7 SC&E 359.3 348.4 699.8 685.0 Total $ 2,328.5 $ 2,375.5 $ 4,505.4 $ 4,602.7 Restructuring 1 : MD&E $ (1.2) $ — $ (1.2) $ (0.1) IA&C — (0.1) 0.3 6.1 SC&E (0.4) — 0.9 0.4 Corporate and Other (0.1) — (0.1) 0.1 Total $ (1.7) $ (0.1) $ (0.1) $ 6.5 Segment EBITA 2 : MD&E $ 143.3 $ 168.9 $ 222.4 $ 280.7 IA&C 132.3 162.9 231.1 282.9 SC&E 71.3 59.4 116.5 115.5 Corporate and Other (15.0) (21.0) (28.9) (41.9) Total $ 331.9 $ 370.2 $ 541.1 $ 637.2 Amortization of acquired intangibles: MD&E $ 19.4 $ 17.8 $ 38.8 $ 35.7 IA&C 1.2 2.3 2.1 4.7 SC&E 0.6 1.0 1.2 2.0 Corporate and Other 0.0 0.0 0.0 0.0 Total $ 21.2 $ 21.1 $ 42.1 $ 42.4 Depreciation and amortization 3 : MD&E $ 26.9 $ 25.8 $ 53.2 $ 52.2 IA&C 13.3 14.4 27.4 28.9 SC&E 3.9 4.2 8.1 8.3 Corporate and Other 1.2 1.6 2.2 3.1 Total $ 45.3 $ 46.0 $ 90.9 $ 92.5 Capital expenditures: MD&E $ 30.8 $ 21.6 $ 53.2 $ 37.6 IA&C 7.1 10.9 8.9 16.9 SC&E 1.5 2.5 2.0 3.3 Corporate and Other 7.0 6.6 15.2 14.5 Total $ 46.4 $ 41.6 $ 79.3 $ 72.3 1 Non-cash lease impairment costs were comprised of ($1.2) at MD&E, ($0.2) at IA&C and ($1.0) at SC&E for the three months ended June 30, 2023. Non-cash lease impairment costs were comprised of ($1.3) at MD&E, ($0.2) at IA&C and $0.3 at SC&E for the six months ended June 30, 2023. Non-cash lease impairment costs were comprised of ($0.1) at MD&E, $5.2 at IA&C, and $0.2 at SC&E for the six months ended June 30, 2022. 2 Adjusted EBITA is calculated as net income available to IPG common stockholders before provision for income taxes, total (expenses) and other income, equity in net income of unconsolidated affiliates, net income attributable to non-controlling interests and amortization of acquired intangibles. 3 Excludes amortization of acquired intangibles. June 30, December 31, Total assets: MD&E $ 9,388.1 $ 9,984.3 IA&C 4,982.7 5,083.5 SC&E 1,656.9 1,629.9 Corporate and Other 1,082.3 2,147.3 Total $ 17,110.0 $ 18,845.0 The following table presents the reconciliation of segment EBITA to Income before income taxes. Three months ended Six months ended 2023 2022 2023 2022 MD&E EBITA $ 143.3 $ 168.9 $ 222.4 $ 280.7 IA&C EBITA 132.3 162.9 231.1 282.9 SC&E EBITA 71.3 59.4 116.5 115.5 Corporate and Other EBITA (15.0) (21.0) (28.9) (41.9) Less: consolidated amortization of acquired intangibles 21.2 21.1 42.1 42.4 Operating income 310.7 349.1 499.0 594.8 Total (expenses) and other income (32.1) (34.3) (54.4) (70.1) Income before income taxes $ 278.6 $ 314.8 $ 444.6 $ 524.7

Fair Value Measurements (Notes)

Fair Value Measurements (Notes)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Authoritative guidance for fair value measurements establishes a fair value hierarchy which requires us to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. There are three levels of inputs that may be used to measure fair value: Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2 Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Financial Instruments that are Measured at Fair Value on a Recurring Basis We primarily apply the market approach to determine the fair value of financial instruments that are measured at fair value on a recurring basis. There were no changes to our valuation techniques used to determine the fair value of financial instruments during the six months ended June 30, 2023. The following tables present information about our financial instruments measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. June 30, 2023 Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 541.0 $ — $ — $ 541.0 Cash and cash equivalents Marketable securities $ 2.8 $ — $ — $ 2.8 Marketable securities Liabilities Contingent acquisition obligations 1 $ — $ — $ 9.1 $ 9.1 Accrued liabilities and Other non-current liabilities December 31, 2022 Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,688.1 $ — $ — $ 1,688.1 Cash and cash equivalents Marketable securities $ 1.1 $ — $ — $ 1.1 Marketable securities Liabilities Contingent acquisition obligations 1 $ — $ — $ 21.6 $ 21.6 Accrued liabilities and Other non-current liabilities 1 Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $12.5 from December 31, 2022 to June 30, 2023 is primarily due to payments related to our deferred acquisitions payments from prior-year acquisitions and valuation adjustments, partially offset by new acquisitions and the exercises of redeemable non-controlling interest. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities. Financial Instruments that are not Measured at Fair Value on a Recurring Basis The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Marketable securities $ 97.7 $ — $ — $ 97.7 $ — $ — $ — $ — Liabilities Total long-term debt $ — $ 2,891.9 $ 0.8 $ 2,892.7 $ — $ 2,551.5 $ 0.8 $ 2,552.3 Our marketable securities are comprised of U.S. Treasury Securities with maturity dates of less than 1 year and are classified as held-to-maturity. Held-to-maturity investments are stated at amortized cost. The fair value of our marketable securities are measured based on quoted prices in active markets and are classified as Level 1. Our long-term debt is comprised of senior notes and other notes payable. The fair value of our senior notes, which are traded over-the-counter, is based on quoted prices in markets that are not active. Therefore, these senior notes are classified as Level 2. Our other notes payable are not actively traded, and their fair value is not solely derived from readily observable inputs. The fair value of our other notes payable is determined based on a discounted cash flow model and other proprietary valuation methods, and therefore is classified as Level 3. See Note 3 for further information on our long-term debt. The discount rates used as significant unobservable inputs in the Level 3 fair value measurements of our contingent acquisition obligations and long-term debt as of June 30, 2023 ranged fr om 3.0% to 6.0%. Non-financial Assets and Liabilities that are Measured at Fair Value on a Nonrecurring Basis

Commitments and Contingencies (

Commitments and Contingencies (Notes)	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Guarantees As discussed in our 2022 Annual Report, we have guaranteed certain obligations of our subsidiaries relating principally to operating leases and uncommitted lines of credit of certain subsidiaries. As of June 30, 2023 and December 31, 2022, the amount of parent company guarantees on lease obligation s was $617.3 and $561.4, respectively, the amount of parent company guarantees primarily relating to uncommitted lines of credit wa s $287.9 and $276.4, respectively, and the amount of parent company guarantees related to daylight overdrafts, primarily utilized to manage intra-day overdrafts due to timing of transactions under cash pooling arrangements without resulting in incremental borrowings, was $102.3 and $101.3, respectively. In the event of non-payment by the applicable subsidiary of the obligations covered by a guarantee, we would be obligated to pay the amounts covered by that guarantee. As of both June 30, 2023, and December 31, 2022 there were no material assets pledged as security for such parent company guarantees. Legal Matters We are involved in various legal proceedings, and subject to investigations, inspections, audits, inquiries and similar actions by governmental authorities arising in the normal course of business. The types of allegations that arise in connection with such legal proceedings vary in nature, but can include claims related to contract, employment, tax and intellectual property matters. We evaluate all cases each reporting period and record liabilities for losses from legal proceedings when we determine that it is probable that the outcome in a legal proceeding will be unfavorable and the amount, or potential range, of loss can be reasonably estimated. In certain cases, we cannot reasonably estimate the potential loss because, for example, the litigation is in its early stages. While any outcome related to litigation or such governmental proceedings in which we are involved cannot be predicted with certainty, management believes that the outcome of these matters, individually and in the aggregate, will not have a material adverse effect on our financial condition, results of operations or cash flows.

Recent Accounting Standards (No

Recent Accounting Standards (Notes)	6 Months Ended
	Jun. 30, 2023
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recent Accounting Standards	Recent Accounting Standards Accounting pronouncements not listed below were assessed and determined to be not applicable or are expected to have minimal impact on our Consolidated Financial Statements. Derivatives and Hedging In March 2022, the Financial Accounting Standards Board (the "FASB") issued amended guidance on hedge accounting which allows nonprepayable financial assets to be included in a closed portfolio hedge using the portfolio layer method, allowing for more consistent accounting over prepayable and nonprepayable hedges. The new guidance also allows multiple hedged layers to be designated for a single closed portfolio, further aligning hedge accounting with risk management strategies. We adopted the standard January 1, 2023, which did not have a significant impact on our financial statements.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue Principal Geographic Markets	Our agencies are located in over 100 countries, including every significant world market. Our geographic revenue breakdown is listed below. Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 1,737.2 $ 1,777.1 $ 3,420.4 $ 3,427.5 International: United Kingdom 216.3 219.2 412.1 451.3 Continental Europe 214.8 221.1 408.4 425.8 Asia Pacific 211.7 217.8 403.6 433.1 Latin America 110.4 110.0 201.1 204.4 Other 176.1 190.5 341.9 362.1 Total International 929.3 958.6 1,767.1 1,876.7 Total Consolidated $ 2,666.5 $ 2,735.7 $ 5,187.5 $ 5,304.2 Three months ended Six months ended Revenue before billable expenses: 2023 2022 2023 2022 United States $ 1,531.8 $ 1,554.9 $ 3,002.4 $ 3,025.0 International: United Kingdom 184.9 184.8 355.1 367.2 Continental Europe 192.5 199.8 356.2 379.1 Asia Pacific 177.3 187.8 336.5 362.4 Latin America 102.4 101.9 187.1 189.6 Other 139.6 146.3 268.1 279.4 Total International 796.7 820.6 1,503.0 1,577.7 Total Consolidated $ 2,328.5 $ 2,375.5 $ 4,505.4 $ 4,602.7 MD&E Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 674.5 $ 676.0 $ 1,322.8 $ 1,316.3 International 395.7 413.0 729.2 769.5 Total MD&E $ 1,070.2 $ 1,089.0 $ 2,052.0 $ 2,085.8 Revenue before billable expenses: United States $ 670.8 $ 663.1 $ 1,306.7 $ 1,291.6 International 384.7 402.2 709.6 747.4 Total MD&E $ 1,055.5 $ 1,065.3 $ 2,016.3 $ 2,039.0 IA&C Three months ended Six months ended Total revenue: 2023 2022 2023 2022 United States $ 644.8 $ 670.8 $ 1,268.5 $ 1,303.6 International 365.8 385.0 706.2 764.8 Total IA&C $ 1,010.6 $ 1,055.8 $ 1,974.7 $ 2,068.4 Revenue before billable expenses: United States $ 609.0 $ 645.1 $ 1,202.7 $ 1,250.8 International 304.7 316.7 586.6 627.9 Total IA&C $ 913.7 $ 961.8 $ 1,789.3 $ 1,878.7
Contract Balances	The following table provides information about receivables, contract assets and contract liabilities from contracts with customers. June 30, December 31, Accounts receivable, net of allowance of $47.7 and $48.6, respectively $ 4,170.0 $ 5,316.0 Accounts receivable, billable to clients 2,215.9 2,023.0 Contract assets 45.3 67.4 Contract liabilities (deferred revenue) 690.5 680.0

Debt and Credit Arrangements (T

Debt and Credit Arrangements (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Summary of Carrying Amounts and Fair Values of Long-term Debt	A summary of the carrying amounts of our long-term debt is listed below. Effective June 30, December 31, 4.200% Senior Notes due 2024 (less unamortized discount and issuance costs of $0.0 and $0.2, respectively) 4.240% $ 249.8 $ 249.7 4.650% Senior Notes due 2028 (less unamortized discount and issuance costs of $1.0 and $2.3, respectively) 4.780% 496.7 496.4 4.750% Senior Notes due 2030 (less unamortized discount and issuance costs of $2.8 and $4.1, respectively) 4.920% 643.1 642.6 2.400% Senior Notes due 2031 (less unamortized discount and issuance costs of $0.6 and $3.6, respectively) 2.512% 495.8 495.5 5.375% Senior Notes due 2033 (less unamortized discount and issuance costs of $3.7 and $3.3, respectively) 5.650% 293.0 — 3.375% Senior Notes due 2041 (less unamortized discount and issuance costs of $1.0 and $5.1, respectively) 3.448% 493.9 493.7 5.400% Senior Notes due 2048 (less unamortized discount and issuance costs of $2.6 and $4.7, respectively) 5.480% 492.7 492.6 Other notes payable and finance leases 0.7 0.8 Total long-term debt 3,165.7 2,871.3 Less: current portion 250.3 0.6 Long-term debt, excluding current portion $ 2,915.4 $ 2,870.7

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following sets forth basic and diluted earnings per common share available to IPG common stockholders. Three Months Ended June 30, Six months ended 2023 2022 2023 2022 Net income available to IPG common stockholders $ 265.5 $ 229.6 $ 391.5 $ 389.0 Weighted-average number of common shares outstanding - basic 385.7 393.1 385.8 393.8 Dilutive effect of stock options and restricted shares 2.0 3.7 1.8 3.7 Weighted-average number of common shares outstanding - diluted 387.7 396.8 387.6 397.5 Earnings per share available to IPG common stockholders: Basic $ 0.69 $ 0.58 $ 1.01 $ 0.99 Diluted $ 0.68 $ 0.58 $ 1.01 $ 0.98

Supplementary Data (Tables)

Supplementary Data (Tables)	6 Months Ended
	Jun. 30, 2023
Supplementary Data [Abstract]
Accrued Liabilities	The following table presents the components of accrued liabilities. June 30, December 31, Salaries, benefits and related expenses $ 408.2 $ 554.0 Interest 42.5 37.3 Income taxes payable 16.2 64.7 Office and related expenses 19.1 28.9 Acquisition obligations 8.6 18.7 Restructuring charges 0.8 2.2 Other 66.9 81.3 Total accrued liabilities $ 562.3 $ 787.1
Other Income (Expense), Net	Results of operations for the three and six months ended June 30, 2023 and 2022 include certain items that are not directly associated with our revenue-producing operations. Three months ended Six months ended 2023 2022 2023 2022 Net losses on sales of businesses $ (2.6) $ (0.7) $ (6.8) $ (7.1) Other (1.8) (3.8) (4.3) (3.6) Total other expense, net $ (4.4) $ (4.5) $ (11.1) $ (10.7) Net losses on sales of businesses – During the three and six months ended June 30, 2023 and 2022, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of cash, as held for sale within our MD&E, IA&C, and SC&E reportable segments. The businesses sold and held for sale primarily represent unprofitable, non-strategic agencies which are expected to be sold within the next twelve months. Other - During the three months ended June 30, 2023, the amounts recognized were primarily related to pension and postretirement costs and a loss from the sale of an equity investment, partially offset by a gain on remeasurement of equity interests due to a change in ownership. During the six months ended June 30, 2023, the amounts recognized were primarily related to pension and postretirement costs and a reduction to the cash gain from the sale of an equity investment. During the three and six months ended June 30, 2022, the amounts recognized were primarily related to a non-cash loss related to the deconsolidation of a previously consolidated entity in which we maintain an equity interest.
Redeemable Noncontrolling Interest [Table Text Block]	Redeemable Non-controlling Interests Many of our acquisitions include provisions under which the non-controlling equity owners may require us to purchase additional interests in a subsidiary at their discretion. Redeemable non-controlling interests are adjusted quarterly, if necessary, to their estimated redemption value, but not less than their initial fair value. Any adjustments to the redemption value impact retained earnings or additional paid in capital, except for foreign currency translation adjustments. The following table presents changes in our redeemable non-controlling interests. Six months ended 2023 2022 Balance at beginning of period $ 38.3 $ 15.6 Change in related non-controlling interests balance (0.1) (0.8) Changes in redemption value of redeemable non-controlling interests: Additions 7.4 3.1 Redemptions (0.4) (9.4) Redemption value adjustments 0.3 0.9 Balance at end of period $ 45.5 $ 9.4

Incentive Compensation Plans (T

Incentive Compensation Plans (Tables)	6 Months Ended
	Jun. 30, 2023
Share-Based Payment Arrangement, Additional Disclosure [Abstract]
Stock-based Compensation Awards	We issued the following stock-based awards under the 2019 Performance Incentive Plan (the "2019 PIP") during the six months ended June 30, 2023. Awards Weighted-average Restricted stock (units) 1.3 $ 35.76 Performance-based stock (shares) 2.1 $ 26.31 Total stock-based compensation awards 3.4

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss, Net of Tax (Tables)	6 Months Ended
	Jun. 30, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Loss, Net of Tax The following tables present the changes in accumulated other comprehensive loss, net of tax, by component. Foreign Currency Derivative Defined Benefit Pension and Other Postretirement Plans Total Balance as of December 31, 2022 $ (815.8) $ 35.0 $ (179.6) $ (960.4) Other comprehensive income before reclassifications 31.7 0.6 2.9 35.2 Amount reclassified from accumulated other comprehensive loss, net of tax 0.5 (0.6) 2.6 2.5 Balance as of June 30, 2023 $ (783.6) $ 35.0 $ (174.1) $ (922.7) Foreign Currency Derivative Defined Benefit Pension and Other Postretirement Plans Total Balance as of December 31, 2021 $ (723.2) $ 22.9 $ (193.9) $ (894.2) Other comprehensive (loss) income before reclassifications (111.5) 9.4 3.5 (98.6) Amount reclassified from accumulated other comprehensive loss, net of tax 1.8 (0.5) 2.6 3.9 Balance as of June 30, 2022 $ (832.9) $ 31.8 $ (187.8) $ (988.9)
Reclassification out of Accumulated Other Comprehensive Income	Amounts reclassified from accumulated other comprehensive loss, net of tax, for the three and six months ended June 30, 2023 and 2022 are as follows: Three months ended Six months ended Affected Line Item in the Consolidated Statements of Operations 2023 2022 2023 2022 Foreign currency translation adjustments $ 0.5 $ 1.8 $ 0.5 $ 1.8 Other expense, net Net gain on derivative instruments (0.2) (0.4) (0.6) (0.7) Other expense, net, Interest expense Amortization of defined benefit pension and postretirement plan items 1.7 1.6 3.4 3.3 Other expense, net Tax effect (0.5) (0.2) (0.8) (0.5) Provision for income taxes Total amount reclassified from accumulated other comprehensive loss, net of tax $ 1.5 $ 2.8 $ 2.5 $ 3.9

Employee Benefits (Tables)

Employee Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract]
Schedule of Net Periodic Costs	The components of net periodic cost for the Domestic Pension Plan, the significant foreign pension plans and the domestic postretirement benefit plan are listed below. Domestic Pension Plan Foreign Pension Plans Domestic Postretirement Benefit Plan Three Months Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ 0.0 $ 0.0 $ 0.8 $ 1.2 $ 0.0 $ 0.0 Interest cost 1.0 0.7 3.8 2.3 0.3 0.1 Expected return on plan assets (1.0) (1.1) (4.3) (5.2) 0.0 0.0 Amortization of: Prior service cost 0.0 0.0 0.1 0.1 0.0 0.0 Unrecognized actuarial losses 0.4 0.3 1.2 1.1 0.0 0.1 Net periodic cost $ 0.4 $ (0.1) $ 1.6 $ (0.5) $ 0.3 $ 0.2 Domestic Pension Plan Foreign Pension Plans Domestic Postretirement Benefit Plan Six Months Ended June 30, 2023 2022 2023 2022 2023 2022 Service cost $ 0.0 $ 0.0 $ 0.6 $ 2.3 $ 0.0 $ 0.0 Interest cost 2.0 1.4 7.9 4.7 0.5 0.3 Expected return on plan assets (2.0) (2.3) (8.5) (10.5) 0.0 0.0 Amortization of: Prior service cost 0.0 0.0 0.1 0.1 0.0 0.0 Unrecognized actuarial losses 0.8 0.7 2.5 2.3 0.0 0.2 Net periodic cost $ 0.8 $ (0.2) $ 2.6 $ (1.1) $ 0.5 $ 0.5

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Summarized financial information concerning reportable segments	Summarized financial information concerning our reportable segments is shown in the following table. Three months ended Six months ended 2023 2022 2023 2022 Total revenue: MD&E $ 1,070.2 $ 1,089.0 $ 2,052.0 $ 2,085.8 IA&C 1,010.6 1,055.8 1,974.7 2,068.4 SC&E 585.7 590.9 1,160.8 1,150.0 Total $ 2,666.5 $ 2,735.7 $ 5,187.5 $ 5,304.2 Revenue before billable expenses: MD&E $ 1,055.5 $ 1,065.3 $ 2,016.3 $ 2,039.0 IA&C 913.7 961.8 1,789.3 1,878.7 SC&E 359.3 348.4 699.8 685.0 Total $ 2,328.5 $ 2,375.5 $ 4,505.4 $ 4,602.7 Restructuring 1 : MD&E $ (1.2) $ — $ (1.2) $ (0.1) IA&C — (0.1) 0.3 6.1 SC&E (0.4) — 0.9 0.4 Corporate and Other (0.1) — (0.1) 0.1 Total $ (1.7) $ (0.1) $ (0.1) $ 6.5 Segment EBITA 2 : MD&E $ 143.3 $ 168.9 $ 222.4 $ 280.7 IA&C 132.3 162.9 231.1 282.9 SC&E 71.3 59.4 116.5 115.5 Corporate and Other (15.0) (21.0) (28.9) (41.9) Total $ 331.9 $ 370.2 $ 541.1 $ 637.2 Amortization of acquired intangibles: MD&E $ 19.4 $ 17.8 $ 38.8 $ 35.7 IA&C 1.2 2.3 2.1 4.7 SC&E 0.6 1.0 1.2 2.0 Corporate and Other 0.0 0.0 0.0 0.0 Total $ 21.2 $ 21.1 $ 42.1 $ 42.4 Depreciation and amortization 3 : MD&E $ 26.9 $ 25.8 $ 53.2 $ 52.2 IA&C 13.3 14.4 27.4 28.9 SC&E 3.9 4.2 8.1 8.3 Corporate and Other 1.2 1.6 2.2 3.1 Total $ 45.3 $ 46.0 $ 90.9 $ 92.5 Capital expenditures: MD&E $ 30.8 $ 21.6 $ 53.2 $ 37.6 IA&C 7.1 10.9 8.9 16.9 SC&E 1.5 2.5 2.0 3.3 Corporate and Other 7.0 6.6 15.2 14.5 Total $ 46.4 $ 41.6 $ 79.3 $ 72.3 1 Non-cash lease impairment costs were comprised of ($1.2) at MD&E, ($0.2) at IA&C and ($1.0) at SC&E for the three months ended June 30, 2023. Non-cash lease impairment costs were comprised of ($1.3) at MD&E, ($0.2) at IA&C and $0.3 at SC&E for the six months ended June 30, 2023. Non-cash lease impairment costs were comprised of ($0.1) at MD&E, $5.2 at IA&C, and $0.2 at SC&E for the six months ended June 30, 2022. 2 Adjusted EBITA is calculated as net income available to IPG common stockholders before provision for income taxes, total (expenses) and other income, equity in net income of unconsolidated affiliates, net income attributable to non-controlling interests and amortization of acquired intangibles. 3 Excludes amortization of acquired intangibles. June 30, December 31, Total assets: MD&E $ 9,388.1 $ 9,984.3 IA&C 4,982.7 5,083.5 SC&E 1,656.9 1,629.9 Corporate and Other 1,082.3 2,147.3 Total $ 17,110.0 $ 18,845.0 The following table presents the reconciliation of segment EBITA to Income before income taxes. Three months ended Six months ended 2023 2022 2023 2022 MD&E EBITA $ 143.3 $ 168.9 $ 222.4 $ 280.7 IA&C EBITA 132.3 162.9 231.1 282.9 SC&E EBITA 71.3 59.4 116.5 115.5 Corporate and Other EBITA (15.0) (21.0) (28.9) (41.9) Less: consolidated amortization of acquired intangibles 21.2 21.1 42.1 42.4 Operating income 310.7 349.1 499.0 594.8 Total (expenses) and other income (32.1) (34.3) (54.4) (70.1) Income before income taxes $ 278.6 $ 314.8 $ 444.6 $ 524.7

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, Assets and Liabilities Measured on Recurring Basis	The following tables present information about our financial instruments measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value. June 30, 2023 Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 541.0 $ — $ — $ 541.0 Cash and cash equivalents Marketable securities $ 2.8 $ — $ — $ 2.8 Marketable securities Liabilities Contingent acquisition obligations 1 $ — $ — $ 9.1 $ 9.1 Accrued liabilities and Other non-current liabilities December 31, 2022 Balance Sheet Classification Level 1 Level 2 Level 3 Total Assets Cash equivalents $ 1,688.1 $ — $ — $ 1,688.1 Cash and cash equivalents Marketable securities $ 1.1 $ — $ — $ 1.1 Marketable securities Liabilities Contingent acquisition obligations 1 $ — $ — $ 21.6 $ 21.6 Accrued liabilities and Other non-current liabilities 1 Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $12.5 from December 31, 2022 to June 30, 2023 is primarily due to payments related to our deferred acquisitions payments from prior-year acquisitions and valuation adjustments, partially offset by new acquisitions and the exercises of redeemable non-controlling interest. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.	[1]
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis	The following table presents information about our financial instruments that are not measured at fair value on a recurring basis as of June 30, 2023 and December 31, 2022, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. June 30, 2023 December 31, 2022 Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets Marketable securities $ 97.7 $ — $ — $ 97.7 $ — $ — $ — $ — Liabilities Total long-term debt $ — $ 2,891.9 $ 0.8 $ 2,892.7 $ — $ 2,551.5 $ 0.8 $ 2,552.3
[1]Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $12.5 from December 31, 2022 to June 30, 2023 is primarily due to payments related to our deferred acquisitions payments from prior-year acquisitions and valuation adjustments, partially offset by new acquisitions and the exercises of redeemable non-controlling interest. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.

Revenue Major Geographical Area

Revenue Major Geographical Area (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Total revenues:
Total revenue	$ 2,666.5	$ 2,735.7	$ 5,187.5	$ 5,304.2
Net revenue	2,328.5	2,375.5	4,505.4	4,602.7
United States
Total revenues:
Total revenue	1,737.2	1,777.1	3,420.4	3,427.5
Net revenue	1,531.8	1,554.9	3,002.4	3,025
United Kingdom
Total revenues:
Total revenue	216.3	219.2	412.1	451.3
Net revenue	184.9	184.8	355.1	367.2
Continental Europe
Total revenues:
Total revenue	214.8	221.1	408.4	425.8
Net revenue	192.5	199.8	356.2	379.1
Asia Pacific
Total revenues:
Total revenue	211.7	217.8	403.6	433.1
Net revenue	177.3	187.8	336.5	362.4
Latin America
Total revenues:
Total revenue	110.4	110	201.1	204.4
Net revenue	102.4	101.9	187.1	189.6
Other
Total revenues:
Total revenue	176.1	190.5	341.9	362.1
Net revenue	139.6	146.3	268.1	279.4
International
Total revenues:
Total revenue	929.3	958.6	1,767.1	1,876.7
Net revenue	796.7	820.6	1,503	1,577.7
MD&E
Total revenues:
Total revenue	1,070.2	1,089	2,052	2,085.8
Net revenue	1,055.5	1,065.3	2,016.3	2,039
MD&E | United States
Total revenues:
Total revenue	674.5	676	1,322.8	1,316.3
Net revenue	670.8	663.1	1,306.7	1,291.6
MD&E | International
Total revenues:
Total revenue	395.7	413	729.2	769.5
Net revenue	384.7	402.2	709.6	747.4
IA&C
Total revenues:
Total revenue	1,010.6	1,055.8	1,974.7	2,068.4
Net revenue	913.7	961.8	1,789.3	1,878.7
IA&C | United States
Total revenues:
Total revenue	644.8	670.8	1,268.5	1,303.6
Net revenue	609	645.1	1,202.7	1,250.8
IA&C | International
Total revenues:
Total revenue	365.8	385	706.2	764.8
Net revenue	304.7	316.7	586.6	627.9
SC&E
Total revenues:
Total revenue	585.7	590.9	1,160.8	1,150
Net revenue	359.3	348.4	699.8	685
SC&E | United States
Total revenues:
Total revenue	417.9	430.3	829.1	807.6
Net revenue	252	246.7	493	482.6
SC&E | International
Total revenues:
Total revenue	167.8	160.6	331.7	342.4
Net revenue	$ 107.3	$ 101.7	$ 206.8	$ 202.4

Revenue Contract Balances (Deta

Revenue Contract Balances (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts receivable, net of allowance of $47.7 and $48.6, respectively	$ 4,170	$ 5,316
Accounts receivable, billable to clients	2,215.9	2,023
Contract assets	45.3	67.4
Contract liabilities (deferred revenue)	690.5	$ 680
Revenue, Remaining Performance Obligation, Amount	$ 862.3

Long-term Debt (Details)

Long-term Debt (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 3,165.7	$ 2,871.3
Long-term Debt, Fair Value	2,892.7	2,552.3
Long-term Debt, Current Maturities	250.3	0.6
Long-term Debt, Excluding Current Maturities	$ 2,915.4	2,870.7
4.200% Notes Due 2024 (less unamortized discount and issuance costs of $0.0 and $0.2, respectively)
Debt Instrument [Line Items]
Effective Interest Rate	4.24%
Long-term Debt, Gross		249.7
4.650% Notes Due 2028 (less unamortized discount and issuance costs of $1.0 and $2.3, respectively)
Debt Instrument [Line Items]
Par Value	$ 500
Maturity Date	Oct. 01, 2028
Interest Rate Stated Percentage	4.65%
Effective Interest Rate	4.78%
Unamortized Discount	$ 1
Issuance Cost	2.3
Long-term Debt, Gross	496.7	496.4
4.750% Notes Due 2030 (less unamortized discount and issuance costs of $2.8 and $4.1, respectively)
Debt Instrument [Line Items]
Par Value	$ 650
Maturity Date	Mar. 30, 2030
Interest Rate Stated Percentage	4.75%
Effective Interest Rate	4.92%
Unamortized Discount	$ 2.8
Issuance Cost	4.1
Long-term Debt, Gross	643.1	642.6
2.400% Notes Due 2031 (less unamortized discount and issuance costs of $0.6 and $3.6, respectively)
Debt Instrument [Line Items]
Par Value	$ 500
Maturity Date	Mar. 01, 2031
Effective Interest Rate	2.512%
Unamortized Discount	$ 0.6
Issuance Cost	3.6
Long-term Debt, Gross	495.8	495.5
5.375% Notes Due 2033 (less unamortized discount and issuance costs of $3.7 and $3.3, respectively)
Debt Instrument [Line Items]
Par Value	$ 300
Interest Rate Stated Percentage	5.375%
Effective Interest Rate	5.65%
Long-term Debt, Gross	$ 293	0
Unsecured Debt	292.9
Debt Instrument, Unamortized Discount	3.8
Debt Issuance Costs, Gross	$ 3.3
3.375% Notes Due 2041 (less unamortized discount and issuance costs of $1.0 and $5.1, respectively)
Debt Instrument [Line Items]
Maturity Date	Mar. 01, 2041
Effective Interest Rate	3.448%
Unamortized Discount	$ 1
Issuance Cost	5.1
Long-term Debt, Gross	493.9	493.7
5.400% Notes Due 2048 (less unamortized discount and issuance costs of $2.6 and $4.7, respectively)
Debt Instrument [Line Items]
Par Value	$ 500
Maturity Date	Oct. 01, 2048
Interest Rate Stated Percentage	5.40%
Effective Interest Rate	5.48%
Unamortized Discount	$ 2.6
Issuance Cost	4.7
Long-term Debt, Gross	492.7	492.6
Other notes payable and capitalized leases
Debt Instrument [Line Items]
Long-term Debt, Gross	$ 0.7	$ 0.8
Unsecured Debt 2.400% Note [Member]
Debt Instrument [Line Items]
Interest Rate Stated Percentage	2.40%
Unsecured Debt 3.375% Note
Debt Instrument [Line Items]
Par Value	$ 500
Interest Rate Stated Percentage	3.375%
Unsecured Debt 4.200% Notes Remaining Principal
Debt Instrument [Line Items]
Par Value	$ 250
Maturity Date	Apr. 15, 2024
Interest Rate Stated Percentage	4.20%
Unamortized Discount	$ 0
Issuance Cost	0.2
Long-term Debt, Gross	$ 249.8

Credit Facilities (Details)

Credit Facilities (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Short-term Debt [Line Items]
Asset Acquisition, Price of Acquisition, Expected		$ 200
Committed credit facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 1,500	1,500
Line of Credit Facility, Available Capacity Increase Amount	250	250
Line of Credit Facility, Limit on Letters of Credit	50	50
Line of Credit Outstanding, Amount	0	0
Letters of Credit Outstanding, Amount	9.6	9.6
Line of Credit Facility, Remaining Borrowing Capacity	1,490.4	1,490.4
Uncommitted credit facility [Member]
Short-term Debt [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	879	879
Line of Credit Outstanding, Amount	30.2	$ 30.2
Line of Credit Facility, Average Outstanding Amount	$ 42.1
Short-term Debt, Weighted Average Interest Rate, over Time	6.10%

Commercial Paper (Details)

Commercial Paper (Details) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)
Debt Disclosure [Abstract]
Commercial paper borrowing capacity	$ 1,500	$ 1,500
Debt Instrument, Term		397 days
Commercial Paper, Average Outstanding	0
Commercial Paper	$ 0	$ 0

Debt and Credit Arrangements De

Debt and Credit Arrangements Debt Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Debt Instrument [Line Items]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax	$ 0.2	$ 0.4	$ 0.6	$ 0.7
Unsecured Debt 4.65% Notes [Member]
Debt Instrument [Line Items]
Par Value	$ 500		$ 500
Debt Instrument, Interest Rate, Stated Percentage	4.65%		4.65%
Maturity Date			Oct. 01, 2028
4.750% Notes Due 2030 (less unamortized discount and issuance costs of $2.8 and $4.1, respectively)
Debt Instrument [Line Items]
Par Value	$ 650		$ 650
Debt Instrument, Interest Rate, Stated Percentage	4.75%		4.75%
Maturity Date			Mar. 30, 2030
Unsecured Debt 2.400% Note [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.40%		2.40%
2.400% Notes Due 2031 (less unamortized discount and issuance costs of $0.6 and $3.6, respectively)
Debt Instrument [Line Items]
Par Value	$ 500		$ 500
Maturity Date			Mar. 01, 2031
3.375% Notes Due 2041 (less unamortized discount and issuance costs of $1.0 and $5.1, respectively)
Debt Instrument [Line Items]
Maturity Date			Mar. 01, 2041
Unsecured Debt 5.40% Notes [Member]
Debt Instrument [Line Items]
Par Value	$ 500		$ 500
Debt Instrument, Interest Rate, Stated Percentage	5.40%		5.40%
Maturity Date			Oct. 01, 2048
Unsecured Debt 3.375% Note
Debt Instrument [Line Items]
Par Value	$ 500		$ 500
Debt Instrument, Interest Rate, Stated Percentage	3.375%		3.375%
Unsecured Debt 4.200% Notes Remaining Principal
Debt Instrument [Line Items]
Par Value	$ 250		$ 250
Debt Instrument, Interest Rate, Stated Percentage	4.20%		4.20%
Maturity Date			Apr. 15, 2024

Earnings Per Share (Details)

Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Earnings Per Share [Abstract]
Net income available to IPG common stockholders	$ 265.5	$ 229.6	$ 391.5	$ 389
Weighted-average number of common shares outstanding, Basic	385.7	393.1	385.8	393.8
Incremental Common Shares Attributable to Dilutive Effect of Share-based Payment Arrangements	2	3.7	1.8	3.7
Weighted-average number of common shares outstanding, Diluted	387.7	396.8	387.6	397.5
Earnings per share, Basic	$ 0.69	$ 0.58	$ 1.01	$ 0.99
Earnings per share, Diluted	$ 0.68	$ 0.58	$ 1.01	$ 0.98

Supplementary Data Accrued Liab

Supplementary Data Accrued Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accrued Liabilities [Abstract]
Salaries, benefits and related expenses	$ 408.2	$ 554
Income Taxes payable	16.2	64.7
Interest	42.5	37.3
Office and related expenses	19.1	28.9
Acquisition obligations	8.6	18.7
Restructuring charges	0.8	2.2
Other	66.9	81.3
Total Accrued Liabilities	$ 562.3	$ 787.1

Supplementary Data Other Expens

Supplementary Data Other Expense, Net (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Other Expense, Net [Abstract]
Net losses on sales of businesses	$ (2.6)	$ (0.7)	$ (6.8)	$ (7.1)
Other Expense, Net, Other	1.8	3.8	4.3	3.6
Other Expense, Net	$ (4.4)	$ (4.5)	$ (11.1)	$ (10.7)

Supplementary Data Share Repurc

Supplementary Data Share Repurchase Program (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Feb. 08, 2023	Feb. 10, 2022
Disclosure of Repurchase Agreements [Abstract]
Stock repurchase program, remaining authorized repurchase amount, excluding fees	$ 302.2		$ 302.2
Stock Repurchase Program, Authorized Amount					$ 350	$ 400
Stock Repurchased During Period, Shares			3.5	4.5
Payments for Repurchase of Common Stock	$ 50.2	$ 84.8	$ 128	$ 147.9
Treasury Stock Acquired, Average Cost Per Share			$ 36.40	$ 32.84

Supplementary Data Redeemable N

Supplementary Data Redeemable Noncontrolling Interests (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Redeemable Noncontrolling Interests [Abstract]
Redeemable noncontrolling interests	$ 45.5	$ 9.4	$ 38.3	$ 15.6
Noncontrolling interest related to redeemable noncontrolling interests	(0.1)	(0.8)
Additions	7.4	3.1
Noncontrolling Interest, Decrease from Redemptions or Purchase of Interests	(0.4)	(9.4)
Redemption value adjustments	$ 0.3	$ 0.9

Supplementary Data (Details)

Supplementary Data (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jan. 01, 2022	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Text Block [Abstract]
Goodwill	$ 5,050.6	$ 5,078.4		$ 5,078.4		$ 5,050.6
Goodwill, Acquired During Period				9.4
Goodwill, Other Decrease				18.4
Goodwill	5,050.6	5,078.4		5,078.4		5,050.6
Goodwill, Transfers	0
Goodwill, Acquired During Period				9.4
Goodwill, Other Decrease				18.4
Severance and termination costs		0.1	$ 0	0.4	$ 0.3
Lease impairment costs		(2.4)	0	(1.2)	5.3
Other restructuring costs		0.6	(0.1)	0.7	0.9
Restructuring charges		(1.7)	(0.1)	(0.1)	6.5
MD&E
Text Block [Abstract]
Goodwill	2,665.2	2,674.7		2,674.7		2,484.6
Goodwill, Acquired During Period				0.5
Goodwill, Other Decrease				9
Goodwill	2,665.2	2,674.7		2,674.7		2,484.6
Goodwill, Transfers	180.6
Goodwill, Acquired During Period				0.5
Goodwill, Other Decrease				9
Lease impairment costs		(1.2)		(1.3)	(0.1)
Restructuring charges		(1.2)	0	(1.2)	(0.1)
IA&C
Text Block [Abstract]
Goodwill	1,701	1,714.8		1,714.8		1,881.6
Goodwill, Acquired During Period				7.9
Goodwill, Other Decrease				5.9
Goodwill	1,701	1,714.8		1,714.8		1,881.6
Goodwill, Transfers	(180.6)
Goodwill, Acquired During Period				7.9
Goodwill, Other Decrease				5.9
Lease impairment costs		(0.2)		(0.2)	5.2
Restructuring charges		0	(0.1)	0.3	6.1
SC&E
Text Block [Abstract]
Goodwill	684.4	688.9		688.9		684.4
Goodwill, Acquired During Period				1
Goodwill, Other Decrease				3.5
Goodwill	684.4	688.9		688.9		$ 684.4
Goodwill, Transfers	$ 0
Goodwill, Acquired During Period				1
Goodwill, Other Decrease				3.5
Lease impairment costs		(1)		0.3	0.2
Restructuring charges		$ (0.4)	$ 0	$ 0.9	$ 0.4

Income Taxes Change in Unrecogn

Income Taxes Change in Unrecognized Tax Benefits (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Tax Adjustments, Settlements, and Unusual Provisions	$ 64.2
Minimum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	15
Maximum [Member]
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Decrease in unrecognized tax benefits is reasonably possible	$ 25

Restructuring Charges (Details)

Restructuring Charges (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Severance and termination costs	$ 100,000	$ 0	$ 400,000	$ 300,000
Other restructuring costs	600,000	(100,000)	700,000	900,000
Restructuring charges	(1,700,000)	(100,000)	(100,000)	6,500,000
Restructuring Reserve					$ 2,300,000
Lease impairment costs	(2,400,000)	0	(1,200,000)	5,300,000
Restructuring Charges 2020 Plan			(100,000)
Restructuring Charges 2020 Plan Reserve	1,100,000		1,100,000
Restructuring Charges 2022 Real Estate Actions Reserve	0		0		0
Other Restructuring Costs 2022 Real Estate Actions			(500,000)
Operating Lease, Impairment Loss 2022 Real Estate Action			(700,000)
Other restructuring costs 2020 Plan			700,000
Restructuring Charges 2022 Real Estate Actions			0
Severance and termination costs	100,000	0	400,000	300,000
Other restructuring costs	600,000	(100,000)	700,000	900,000
Restructuring charges	(1,700,000)	$ (100,000)	(100,000)	$ 6,500,000
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1,100,000		1,100,000		2,300,000
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0		0		0
Non-cash Items [Member]
Restructuring Cost and Reserve [Line Items]
Severance and termination costs			0
Restructuring charges			(500,000)
Lease impairment costs			(500,000)
Operating Lease, Impairment Loss 2022 Real Estate Action			(700,000)
Other restructuring costs 2020 Plan			100,000
Restructuring Charges 2022 Real Estate Actions			(600,000)
Severance and termination costs			0
Restructuring charges			(500,000)
Cash Payments [Member]
Restructuring Cost and Reserve [Line Items]
Severance and termination costs			1,600,000
Restructuring charges			1,600,000
Lease impairment costs			0
Operating Lease, Impairment Loss 2022 Real Estate Action			0
Other restructuring costs 2020 Plan			600,000
Restructuring Charges 2022 Real Estate Actions			600,000
Severance and termination costs			1,600,000
Restructuring charges			1,600,000
Lease impairment costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 0		$ 0		$ 0

Restructuring Charges Segments

Restructuring Charges Segments (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring charges	$ (1.7)	$ (0.1)	$ (0.1)	$ 6.5
Lease impairment costs	(2.4)	0	(1.2)	5.3
IA&C
Restructuring Cost and Reserve [Line Items]
Restructuring charges	0	(0.1)	0.3	6.1
Lease impairment costs	(0.2)		(0.2)	5.2
SC&E
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(0.4)	0	0.9	0.4
Lease impairment costs	(1)		0.3	0.2
Corporate and Other
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(0.1)	0	(0.1)	0.1
MD&E
Restructuring Cost and Reserve [Line Items]
Restructuring charges	(1.2)	$ 0	(1.2)	(0.1)
Lease impairment costs	$ (1.2)		$ (1.3)	$ (0.1)

Restructuring Charges 2020 Plan

Restructuring Charges 2020 Plan Restructuring Activity (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Severance and termination costs	$ 0.1	$ 0	$ 0.4	$ 0.3
Lease impairment costs	(2.4)	0	(1.2)	5.3
Other restructuring costs	0.6	(0.1)	0.7	0.9
Restructuring charges	(1.7)	$ (0.1)	(0.1)	$ 6.5
Restructuring Reserve					$ 2.3
Employee Severance [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	1.1		1.1		2.3
Lease impairment costs [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	0		0		0
Other Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve	$ 0		0		$ 0
Non-cash Items [Member]
Restructuring Cost and Reserve [Line Items]
Severance and termination costs			0
Lease impairment costs			(0.5)
Restructuring charges			(0.5)
Cash Payments [Member]
Restructuring Cost and Reserve [Line Items]
Severance and termination costs			1.6
Lease impairment costs			0
Restructuring charges			$ 1.6

Incentive Compensation Plans St

Incentive Compensation Plans Stock-based Compensation Awards (Details) shares in Millions	6 Months Ended
	Jun. 30, 2023 $ / shares shares
Restricted stock (units)
Incentive Compensation Plans
Granted awards	1.3
Weighted average grant date fair value | $ / shares	$ 35.76
Performance-based stock (shares)
Incentive Compensation Plans
Granted awards	2.1
Weighted average grant date fair value | $ / shares	$ 26.31
Total stock-based compensation awards
Incentive Compensation Plans
Granted awards	3.4

Incentive Compensation Plans Pl

Incentive Compensation Plans Plan Information (Details) $ in Millions	6 Months Ended
	Jun. 30, 2023 USD ($)
Share-Based Payment Arrangement [Abstract]
Performance cash awards granted during the period target value	$ 45.9
Restricted cash awards granted during the period target value	$ 14.5
Performance based cash award vesting period	3 years
Restricted cash awards vesting period floor	2 years
Cash awards vesting period	3 years

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss, Net of Tax (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022	Dec. 31, 2021
Foreign currency translation adjustment:
Balance at beginning of period	$ (815.8)	$ (723.2)
Other comprehensive (loss) income before reclassifications	31.7	(111.5)
Amount reclassified from accumulated other comprehensive loss, net of tax	0.5	1.8
Balance at end of period	(783.6)	(832.9)
Derivative Instrument:
Balance at beginning of period	35	22.9
Other Comprehensive Income (Loss), Derivatives Qualifying as Hedges, Net of Tax	0.6	9.4
Derivative Instruments, Gain (Loss) Reclassified from Accumulated OCI into Income, Effective Portion, Net	0.6	0.5
Balance at end of period	35	31.8
Defined Benefit Pension and Other Postretirement Plans
Balance at beginning of period	(174.1)	(187.8)	$ (179.6)	$ (193.9)
Other comprehensive (loss) income before reclassifications	2.9	3.5
Amount reclassified from accumulated other comprehensive loss, net of tax	2.6	2.6
Total:
Balance at beginning of period	(960.4)	(894.2)
Other comprehensive (loss) income before reclassifications	35.2	(98.6)
Amount reclassified from accumulated other comprehensive loss, net of tax	2.5	3.9
Balance at end of period	$ (922.7)	$ (988.9)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss, Net of Tax Reclassification of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation adjustments	$ 0.5	$ 1.8	$ 0.5	$ 1.8
Net (Gain) Loss on derivative instruments	(0.2)	(0.4)	(0.6)	(0.7)
Amortization of defined benefit pension and postretirement plan items	1.7	1.6	3.4	3.3
Tax effect	(0.5)	(0.2)	(0.8)	(0.5)
Reclassifications from accumulated other comprehensive loss to earnings, net of tax	$ 1.5	$ 2.8	$ 2.5	$ 3.9

Employee Benefits (Details)

Employee Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Domestic Plan [Member]
Defined Pension and Postretirement Benefit Plans
Service cost	$ 0	$ 0	$ 0	$ 0
Interest cost	1	0.7	2	1.4
Expected return on plan assets	(1)	(1.1)	(2)	(2.3)
Amortization of:
Prior Service Cost (Credit)	0	0	0	0
Unrecognized actuarial losses	0.4	0.3	0.8	0.7
Net periodic cost	0.4	(0.1)	0.8	(0.2)
Pension plan - employer contributions			0
Pension plan - estimated employer contributions for remainder of current fiscal year	0		0
Foreign Plan [Member]
Defined Pension and Postretirement Benefit Plans
Service cost	0.8	1.2	0.6	2.3
Interest cost	3.8	2.3	7.9	4.7
Expected return on plan assets	(4.3)	(5.2)	(8.5)	(10.5)
Amortization of:
Prior Service Cost (Credit)	(0.1)	(0.1)	(0.1)	(0.1)
Unrecognized actuarial losses	1.2	1.1	2.5	2.3
Net periodic cost	1.6	(0.5)	2.6	(1.1)
Pension plan - employer contributions			8.2
Pension plan - estimated employer contributions for remainder of current fiscal year	8		8
Domestic Postretirement Benefit Plan
Defined Pension and Postretirement Benefit Plans
Service cost	0	0	0	0
Interest cost	0.3	0.1	0.5	0.3
Expected return on plan assets	0	0	0	0
Amortization of:
Prior Service Cost (Credit)	0	0	0	0
Unrecognized actuarial losses	0	0.1	0	0.2
Net periodic cost	$ 0.3	$ 0.2	$ 0.5	$ 0.5

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Segments:
Total revenue	$ 2,666.5	$ 2,735.7	$ 5,187.5	$ 5,304.2
Net revenue	2,328.5	2,375.5	4,505.4	4,602.7
Segment EBITA	331.9	370.2	541.1	637.2
Amortization of acquired intangibles	(21.2)	(21.1)	(42.1)	(42.4)
Depreciation	45.3	46	90.9	92.5
Capital expenditures	46.4	41.6	79.3	72.3
Total assets	17,110		17,110		$ 18,845
Operating income	310.7	349.1	499	594.8
Total (expenses) and other income	(32.1)	(34.3)	(54.4)	(70.1)
Income before income taxes	278.6	314.8	444.6	524.7
Restructuring charges	(1.7)	(0.1)	(0.1)	6.5
Lease impairment costs	(2.4)	0	(1.2)	5.3
MD&E
Segments:
Total revenue	1,070.2	1,089	2,052	2,085.8
Net revenue	1,055.5	1,065.3	2,016.3	2,039
Segment EBITA	143.3	168.9	222.4	280.7
Amortization of acquired intangibles	19.4	17.8	38.8	35.7
Depreciation	26.9	25.8	53.2	52.2
Capital expenditures	30.8	21.6	53.2	37.6
Total assets	9,388.1		9,388.1		9,984.3
Restructuring charges	(1.2)	0	(1.2)	(0.1)
Lease impairment costs	(1.2)		(1.3)	(0.1)
IA&C
Segments:
Total revenue	1,010.6	1,055.8	1,974.7	2,068.4
Net revenue	913.7	961.8	1,789.3	1,878.7
Segment EBITA	132.3	162.9	231.1	282.9
Amortization of acquired intangibles	1.2	2.3	2.1	4.7
Depreciation	13.3	14.4	27.4	28.9
Capital expenditures	7.1	10.9	8.9	16.9
Total assets	4,982.7		4,982.7		5,083.5
Restructuring charges	0	(0.1)	0.3	6.1
Lease impairment costs	(0.2)		(0.2)	5.2
SC&E
Segments:
Total revenue	585.7	590.9	1,160.8	1,150
Net revenue	359.3	348.4	699.8	685
Segment EBITA	71.3	59.4	116.5	115.5
Amortization of acquired intangibles	0.6	1	1.2	2
Depreciation	3.9	4.2	8.1	8.3
Capital expenditures	1.5	2.5	2	3.3
Total assets	1,656.9		1,656.9		1,629.9
Restructuring charges	(0.4)	0	0.9	0.4
Lease impairment costs	(1)		0.3	0.2
Corporate and Other
Segments:
Segment EBITA	(15)	(21)	(28.9)	(41.9)
Amortization of acquired intangibles	0	0	0	0
Depreciation	1.2	1.6	2.2	3.1
Capital expenditures	7	6.6	15.2	14.5
Total assets	1,082.3		1,082.3		$ 2,147.3
Restructuring charges	$ (0.1)	$ 0	$ (0.1)	$ 0.1

Fair Value on a Recurring and N

Fair Value on a Recurring and Nonrecurring Basis (Details) - USD ($) $ in Millions		6 Months Ended
		Jun. 30, 2023	Dec. 31, 2022
Fair value assets and liabilities measured on recurring and nonrecurring basis
Contingent acquisition liability, total change		$ (12.5)
Long-term Debt, Fair Value		$ 2,892.7	$ 2,552.3
Discount rate floor contingent acquisition obligations		3%
Discount rate ceiling contingent acquisition obligations		6%
Level 1
Fair value assets and liabilities measured on recurring and nonrecurring basis
Cash equivalents		$ 541	1,688.1
Other Assets, Fair Value Disclosure		2.8	1.1
Contingent acquisition obligations	[1]	0	0
Long-term Debt, Fair Value		0	0
Security Owned Not Readily Marketable, Fair Value		97.7	0
Level 2
Fair value assets and liabilities measured on recurring and nonrecurring basis
Cash equivalents		0	0
Other Assets, Fair Value Disclosure		0	0
Contingent acquisition obligations	[1]	0	0
Long-term Debt, Fair Value		2,891.9	2,551.5
Security Owned Not Readily Marketable, Fair Value		0	0
Level 3
Fair value assets and liabilities measured on recurring and nonrecurring basis
Cash equivalents		0	0
Other Assets, Fair Value Disclosure		0	0
Contingent acquisition obligations	[1]	9.1	21.6
Long-term Debt, Fair Value		0.8	0.8
Security Owned Not Readily Marketable, Fair Value		0	0
Fair Value, Total [Member]
Fair value assets and liabilities measured on recurring and nonrecurring basis
Cash equivalents		541	1,688.1
Other Assets, Fair Value Disclosure		2.8	1.1
Contingent acquisition obligations	[1]	9.1	21.6
Long-term Debt, Fair Value		2,892.7	2,552.3
Security Owned Not Readily Marketable, Fair Value		$ 97.7	$ 0
[1]Contingent acquisition obligations includes deferred acquisition payments and unconditional obligations to purchase additional non-controlling equity shares of consolidated subsidiaries. Fair value measurement of the obligations is based upon actual and projected operating performance targets as specified in the related agreements. The decrease in this balance of $12.5 from December 31, 2022 to June 30, 2023 is primarily due to payments related to our deferred acquisitions payments from prior-year acquisitions and valuation adjustments, partially offset by new acquisitions and the exercises of redeemable non-controlling interest. The amounts payable within the next twelve months are classified in accrued liabilities; any amounts payable thereafter are classified in other non-current liabilities.

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Lease guarantees	$ 617.3	$ 561.4
Credit facility guarantees	287.9	276.4
Cash pooling guarantees	102.3	$ 101.3
Assets pledged as security for parent company guarantees	$ 0