Subsequent Events (Notes)

9 Months Ended

Sep. 30, 2018

Subsequent Events [Abstract]

Acxiom Acquisition

Subsequent Events

Acxiom Acquisition Closing

On October 1, 2018, pursuant to the terms of the Acxiom Purchase Agreement, IPG completed the Acxiom Acquisition for $2,300.0 in cash, subject to customary closing adjustments. On that date, in connection with the consummation of the Acxiom Acquisition, the conditions to the closing of the Term Loan Agreement were satisfied and the Company borrowed $500.0 thereunder, due in 2021. The proceeds of such borrowing, together with proceeds from the issuance of the Senior Notes, were used to fund the Acxiom Acquisition and related fees and expenses. No additional amounts are available for borrowing under the Term Loan Agreement. In addition, with the consummation of the Acxiom Acquisition, the changes to the leverage ratio covenant in our Credit Agreement contemplated by the Amendment became effective.

During the third quarter ended September 30, 2018, we recorded $11.0 in "Selling, general and administrative expenses," $3.7 in "Interest expense," $0.4 in "Interest income" and $10.3 in "Other expense, net," for transaction-related costs. We expect to incur additional amounts during the fourth quarter of 2018. We have not yet completed purchase accounting for the Acxiom Acquisition.