| Summarized financial information concerning reportable segments |
Summarized financial information concerning our reportable segments is shown in the following table. | | | | | | | | | | | | | | | | | | | | | | | | | | Three months ended
June 30, | | Six months ended
June 30, | | | 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 | | | | | | | | | | Restructuring1: | | | | | | | | | 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 EBITA2: | | | | | | | | | 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,
2023 | | December 31,
2022 | | 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
June 30, | | Six months ended
June 30, | | 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 | |
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