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Supplementary Data (Notes)

9 Months Ended

Sep. 30, 2023

The following table presents the components of accrued liabilities.


	September 30, 2023		December 31, 2022
Salaries, benefits and related expenses	$	453.8	$	554.0
Interest	59.8		37.3
Income taxes payable	34.8		64.7
Office and related expenses	19.1		28.9
Acquisition obligations	2.1		18.7
Restructuring charges	0.7		2.2
Other	62.0		81.3
Total accrued liabilities	$	632.3	$	787.1

Other Income, Net

Other (Expense) Income, Net

Results of operations for the three and nine months ended September 30, 2023 and 2022 include certain items that are not directly associated with our revenue-producing operations.


	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Net (losses)/gains on sales of businesses	$	(12.1)	$	3.1	$	(18.9)	$	(4.0)
Other	(1.6)		14.4		(5.9)		10.8
Total other (expense) income, net	$	(13.7)	$	17.5	$	(24.8)	$	6.8

Net (losses)/gains on sales of businesses – During the three and nine months ended September 30, 2023 and 2022, the amounts recognized were related to sales of businesses and the classification of certain assets and liabilities, consisting primarily of accounts receivable and accounts payable, 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 and nine months ended September 30, 2023, the amounts recognized were primarily related to pension and postretirement costs. During the three months ended September 30, 2022, the amounts recognized were primarily related to a cash gain from the sale of an equity investment. During the nine months ended September 30, 2022, the amounts recognized were primarily attributable to factors noted for the third quarter of 2022, partially offset by a non-cash loss related to the deconsolidation of a previously consolidated entity in which we maintain an equity interest in the second quarter of 2022.

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.


	Nine months ended September 30,
	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	(3.8)		0.6
Balance at end of period	$	41.4	$	9.1

Restructuring, Impairment, and Other Activities Disclosure


	Three months ended September 30,				Nine months ended September 30,
	20231		20222		20231		20222
Severance and termination costs	$	0.0	$	0.0	$	0.4	$	0.2
Lease impairment costs	(0.7)		(7.3)		(1.9)		(2.0)
Other restructuring costs	0.1		1.5		0.8		2.5
Total restructuring charges	$	(0.6)	$	(5.8)	$	(0.7)	$	0.7

1The amounts for the three and nine months ended September 30, 2023 represent adjustments to the restructuring actions taken in 2022 and 2020.

2The amounts for the three and nine months ended September 30, 2022 represent adjustments to the restructuring actions taken in 2020.

In the fourth quarter of 2022, the Company took real estate actions related to new real estate exits and lease terminations to further optimize the real estate footprint supporting our office-home hybrid service model in a post-pandemic economy.

A summary of the restructuring activities related to adjustments to the 2022 real estate actions for the nine months ended September 30, 2023 is as follows:


	2022 Real Estate Actions
	Liability at December 31, 2022		Restructuring Expense		Non-Cash Items		Cash Payments		Liability at September 30, 2023

Lease impairment costs	$	0.0	$	(1.4)	$	(1.4)	$	0.0	$	0.0
Other restructuring costs	0.0		0.8		0.2		0.6		0.0
Total	$	0.0	$	(0.6)	$	(1.2)	$	0.6	$	0.0

Goodwill Disclosure

Goodwill is the excess purchase price remaining from an acquisition after an allocation of purchase price has been made to identifiable assets acquired and liabilities assumed based on estimated fair values.

The Company transferred certain agencies between operating segments as of January 1, 2023 which resulted in certain changes to our reporting units and reportable segments. We have allocated goodwill to our reporting units using a relative fair value approach. In addition, we completed an assessment of any potential goodwill impairment for all impacted reporting units immediately prior and subsequent to the reallocation and determined that no impairment existed.

The following table sets forth details of changes in goodwill by reportable segment of the Company: