Segment Information (Tables)

9 Months Ended

Sep. 30, 2023

Summarized financial information concerning reportable segments

Summarized financial information concerning our reportable segments is shown in the following table.


	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
Total revenue:
MD&E	$	1,069.3	$	1,040.7	$	3,121.3	$	3,126.5
IA&C	966.4		1,011.4		2,941.1		3,079.8
SC&E	642.8		585.6		1,803.6		1,735.6
Total	$	2,678.5	$	2,637.7	$	7,866.0	$	7,941.9

Revenue before billable expenses:
MD&E	$	1,054.4	$	1,024.2	$	3,070.7	$	3,063.2
IA&C	883.3		927.1		2,672.6		2,805.8
SC&E	371.3		344.9		1,071.1		1,029.9
Total	$	2,309.0	$	2,296.2	$	6,814.4	$	6,898.9

Restructuring1:
MD&E	$	(0.1)	$	—	$	(1.3)	$	(0.1)
IA&C	(0.5)		—		(0.2)		6.1
SC&E	(0.2)		(5.8)		0.7		(5.4)
Corporate and Other	0.2		—		0.1		0.1
Total	$	(0.6)	$	(5.8)	$	(0.7)	$	0.7

Segment EBITA2:
MD&E	$	208.0	$	170.3	$	430.4	$	451.0
IA&C	130.4		147.9		361.5		430.8
SC&E	77.7		63.8		194.2		179.3
Corporate and Other	(18.3)		(20.0)		(47.2)		(61.9)
Total	$	397.8	$	362.0	$	938.9	$	999.2

Amortization of acquired intangibles:
MD&E	$	19.2	$	17.7	$	58.0	$	53.4
IA&C	1.2		1.7		3.3		6.4
SC&E	0.6		0.8		1.8		2.8
Corporate and Other	0.0		0.0		0.0		0.0
Total	$	21.0	$	20.2	$	63.1	$	62.6

Depreciation and amortization3:
MD&E	$	26.6	$	26.3	$	79.8	$	78.5
IA&C	13.2		14.7		40.6		43.6
SC&E	4.0		4.3		12.1		12.6
Corporate and Other	1.2		1.5		3.4		4.6
Total	$	45.0	$	46.8	$	135.9	$	139.3

Capital expenditures:
MD&E	$	21.8	$	27.2	$	75.0	$	64.8
IA&C	14.7		9.6		23.6		26.5
SC&E	1.8		2.4		3.8		5.7


Corporate and Other	9.5		7.0		24.7		21.5
Total	$	47.8	$	46.2	$	127.1	$	118.5

1 Non-cash lease impairment costs were comprised of ($0.1) at MD&E, ($0.6) at IA&C and ($0.2) at SC&E for the three months ended September 30, 2023. Non-cash lease impairment costs were comprised of ($1.3) at MD&E and ($0.8) at IA&C for the nine months ended September 30, 2023. Non-cash lease impairment costs were comprised of ($7.3) at SC&E for the three months ended September 30, 2022. Non-cash lease impairment costs were comprised of ($0.1) at MD&E, $5.2 at IA&C, and ($7.1) at SC&E for the nine months ended September 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 (loss) income of unconsolidated affiliates, net income attributable to non-controlling interests and amortization of acquired intangibles.

3 Excludes amortization of acquired intangibles.


	September 30, 2023		December 31, 2022
Total assets:
MD&E	$	9,271.7	$	9,984.3
IA&C	4,760.7		5,083.5
SC&E	1,802.5		1,629.9
Corporate and Other	1,192.4		2,147.3
Total	$	17,027.3	$	18,845.0

The following table presents the reconciliation of segment EBITA to Income before income taxes.


	Three months ended September 30,				Nine months ended September 30,
	2023		2022		2023		2022
MD&E EBITA	$	208.0	$	170.3	$	430.4	$	451.0
IA&C EBITA	130.4		147.9		361.5		430.8
SC&E EBITA	77.7		63.8		194.2		179.3
Corporate and Other EBITA	(18.3)		(20.0)		(47.2)		(61.9)
Less: consolidated amortization of acquired intangibles	21.0		20.2		63.1		62.6
Operating income	376.8		341.8		875.8		936.6
Total (expenses) and other income	(37.3)		(10.4)		(91.7)		(80.5)
Income before income taxes	$	339.5	$	331.4	$	784.1	$	856.1