Earnings Per Share (Tables)

6 Months Ended

Jun. 30, 2013

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 June 30,
	2013		2012		2013		2012
Net income available to IPG common stockholders - basic	$	79.9	$	99.0	$	20.7	$	53.1
Adjustments: Effect of dilutive securities
Interest on 4.75% Notes ¹	0.0		1.0		0.0		0.0
Interest on 4.25% Notes ²	0.0		0.0		0.0		0.3
Preferred stock dividends	2.9		2.9		0.0		0.0
Net income available to IPG common stockholders - diluted	$	82.8	$	102.9	$	20.7	$	53.4


Weighted-average number of common shares outstanding - basic	425.1		437.4		419.7		437.5
Add: Effect of dilutive securities
Restricted stock, stock options and other equity awards	6.1		6.9		5.4		6.6
4.75% Notes ¹	0.0		16.7		0.0		0.0
4.25% Notes ²	0.0		0.0		0.0		15.6
Preferred stock outstanding	17.1		16.7		0.0		0.0
Weighted-average number of common shares outstanding - diluted	448.3		477.7		425.1		459.7


Earnings per share available to IPG common stockholders - basic	$	0.19	$	0.23	$	0.05	$	0.12
Earnings per share available to IPG common stockholders - diluted	$	0.18	$	0.22	$	0.05	$	0.12

¹ We retired all of our outstanding 4.75% Notes in March 2013. See Note 2 for further information on our 4.75% Notes. For purposes of calculating diluted earnings per share, the potentially dilutive shares are pro-rated based on the period they were outstanding.

² We retired all of our outstanding 4.25% Notes in March 2012. For purposes of calculating diluted earnings per share, the potentially dilutive shares are pro-rated based on the period they were outstanding.

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

The following table presents the potential shares excluded from the diluted earnings per share calculation because the effect of including these potential shares would be antidilutive.



	Three months ended June 30,		Six months ended June 30,
	2013	2012	2013	2012
4.75% Notes ¹	0.0	0.0	6.6	16.7
Preferred stock outstanding	0.0	0.0	17.1	16.7
Total	0.0	0.0	23.7	33.4

Securities excluded from the diluted earnings per share calculation because the exercise price was greater than the average market price:
Stock options ²	0.2	7.1	1.3	7.1


¹	We retired all of our outstanding 4.75% Notes in March 2013. See Note 2 for further information on our 4.75% Notes. For purposes of calculating diluted earnings per share, the potentially dilutive shares are pro-rated based on the period they were outstanding.


²	These options are outstanding at the end of the respective periods. In any period in which the exercise price is less than the average market price, these options have the potential to be dilutive, and application of the treasury stock method would reduce this amount.