Re: | The Interpublic Group of Companies, Inc. |
($ in millions) | Four Quarters Ended December 31, 2019 | |||
Credit Agreement EBITDA Reconciliation | ||||
Net income available to IPG common stockholders | $ | 656.0 | ||
Non-operating adjustments 2 | 430.0 | |||
Operating income | $ | 1,086.0 | ||
Add: | ||||
Depreciation and amortization | 369.8 | |||
Credit Agreement EBITDA | $ | 1,455.8 | ||
2 Includes adjustments of the following items from our consolidated statement of operations: provision for income taxes, total (expenses) and other income, equity in net income (loss) of unconsolidated affiliates and net income attributable to noncontrolling interests |
($ in millions) | As of | Balance Sheet Caption | ||
Net deferred tax (liabilities) assets | 12/31/2019 | |||
Net deferred tax assets | $ | 252.1 | Deferred income taxes | |
Net deferred tax liabilities | (262.9 | ) | Other non-current liabilities | |
Total Net Deferred Tax Liabilities Note 9 | $ | (10.8 | ) |
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES RECONCILIATION OF NON-GAAP ADJUSTED RESULTS (Amounts in Millions except Per Share Data) (UNAUDITED) | |||||||||||||||
Three Months Ended March 31, 2020 | |||||||||||||||
As Reported | Amortization of Acquired Intangibles | Net Losses on Sales of Businesses1 | Adjusted Results | ||||||||||||
Operating Income and Adjusted EBITA 2 | $ | 75.9 | $ | (21.3 | ) | $ | 97.2 | ||||||||
Total (Expenses) and Other Income | (55.9 | ) | $ | (23.3 | ) | (32.6 | ) | ||||||||
Income Before Income Taxes | 20.0 | (21.3 | ) | (23.3 | ) | 64.6 | |||||||||
Provision for Income Taxes | 17.2 | 4.2 | 0.9 | 22.3 | |||||||||||
Equity in Net Loss of Unconsolidated Affiliates | (0.2 | ) | (0.2 | ) | |||||||||||
Net Loss Attributable to Noncontrolling Interests | 2.1 | 2.1 | |||||||||||||
Net Income Available to IPG Common Stockholders | $ | 4.7 | $ | (17.1 | ) | $ | (22.4 | ) | $ | 44.2 | |||||
Weighted-Average Number of Common Shares Outstanding - Basic | 387.7 | 387.7 | |||||||||||||
Dilutive effect of stock options and restricted shares | 4.0 | 4.0 | |||||||||||||
Weighted-Average Number of Common Shares Outstanding - Diluted | 391.7 | 391.7 | |||||||||||||
Earnings per Share Available to IPG Common Stockholders: | |||||||||||||||
Basic | $ | 0.01 | $ | (0.04 | ) | $ | (0.06 | ) | $ | 0.11 | |||||
Diluted | $ | 0.01 | $ | (0.04 | ) | $ | (0.06 | ) | $ | 0.11 | |||||
1 Includes losses on complete dispositions of businesses and the classification of certain assets as held for sale. | |||||||||||||||
2 Refer to non-GAAP reconciliation on page 8 | |||||||||||||||
Note: Management believes the resulting comparisons provide useful supplemental data that, while not a substitute for GAAP measures, allow for greater transparency in the review of our financial and operational performance. |
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