false000005164400000516442024-07-242024-07-24

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
 _______________________

FORM 8-K
_______________________

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
 
Date of report (Date of earliest event reported): July 24, 2024
 ipglogo2018a04.jpg
THE INTERPUBLIC GROUP OF COMPANIES, INC.
(Exact name of registrant as specified in its charter)
Delaware
1-6686
13-1024020
(State or other jurisdiction of
incorporation or organization)
(Commission File Number)(I.R.S. Employer
Identification No.)
909 Third Avenue, New York, New York 10022
(Address of principal executive offices) (Zip Code)
(212)704-1200
(Registrant’s telephone number, including area code)

(Former name, former address and former fiscal year, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
  
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.10 per shareIPGThe New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.




Item 2.02. Results of Operations and Financial Condition.

On July 24, 2024, The Interpublic Group of Companies, Inc. (i) issued a press release, a copy of which is attached hereto as Exhibit 99.1 and incorporated by reference herein, announcing its results for the second quarter and first half of 2024, (ii) held a conference call to discuss the foregoing results and (iii) posted an investor presentation, a copy of which is attached hereto as Exhibit 99.2 and incorporated by reference herein, on its website in connection with the conference call.


Item 9.01. Financial Statements and Exhibits.

Exhibit 99.1: Press release dated July 24, 2024 (furnished pursuant to Item 2.02)

Exhibit 99.2: Investor presentation dated July 24, 2024 (furnished pursuant to Item 2.02)

Exhibit 104: Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document (included as Exhibit 101).






SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 THE INTERPUBLIC GROUP OF COMPANIES, INC.
Date: July 24, 2024
By:       /s/ Andrew Bonzani                           
 Name:   Andrew Bonzani
Title:     Executive Vice President and General Counsel







Exhibit 99.1

ipglogo2018a04a.jpg
FOR IMMEDIATE RELEASENew York, NY (July 24, 2024)


Interpublic Announces Second Quarter and First Half 2024 Results

SECOND QUARTER
Total revenue including billable expenses was $2.71 billion
Revenue before billable expenses ("net revenue") was flat at $2.33 billion, with an organic increase of 1.7%
Reported net income was $214.5 million
Adjusted EBITA before restructuring charges was $338.9 million
Margin of adjusted EBITA before restructuring charges was 14.6% on revenue before billable expenses
Diluted earnings per share was $0.57 as reported and $0.61 as adjusted

Philippe Krakowsky, CEO of IPG:

“Second quarter performance was solid, with moderate acceleration in organic growth, as well as margin expansion compared to the same period last year. Consistent with our longer-term performance, IPG Mediabrands and IPG Health led the way in the quarter. We also saw notable contributions to growth from Deutsch LA, Golin and Acxiom. Creatively, our agencies continued to garner exceptional levels of recognition for the quality of their ideas and innovation, across all marketing disciplines.

“The most successful businesses in our portfolio continue to demonstrate specialized, high-value services that identify and reach audiences with greater precision and accountability, in turn leading to growth in our clients’ brands and businesses. Much of this work is powered by our industry-leading audience data and a technology stack that unifies the marketing funnel. This enables marketers to assess and understand the value of their investments, whether on technology platforms, in earned and paid media, or in other key sales and retail channels. We continue to focus on these growth areas of the business, as well as on integrating generative AI tools and technologies into our content and creative offerings.

“Given results in the year to date, trends within our client roster, and macro sentiment, we expect to achieve full-year organic growth of approximately 1% and, at that level of growth, continue to target adjusted EBITA margin of 16.6%. Additional areas for value creation include our strong balance sheet and liquidity, as well as our ongoing commitment to capital returns.”





Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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Summary

Revenue
Second quarter 2024: Total revenue, which includes billable expenses, was $2.71 billion, compared $2.67 billion in the second quarter of 2023.
Revenue before billable expenses ("net revenue") was $2.33 billion, a decrease of 0.1% from the second quarter of 2023.
The organic increase of net revenue was 1.7% from the second quarter of 2023.
First half 2024: Total revenue, which includes billable expenses, was $5.21 billion, compared $5.19 billion in the first half of 2023.
Revenue before billable expenses ("net revenue") was $4.51 billion, an increase of 0.1% from the first half of 2023.
The organic increase of net revenue was 1.5% from the first half of 2023.

Operating Results
In the second quarter of 2024, operating income was $318.2 million compared to $310.7 million in 2023. Adjusted EBITA before restructuring charges was $338.9 million compared to $330.2 million for the same period in 2023. Second quarter 2024 margin of adjusted EBITA before restructuring charges was 14.6% on revenue before billable expenses.
In the first half of 2024, operating income was $502.4 million compared to $499.0 million in 2023. Adjusted EBITA before restructuring charges was $544.4 million compared to $541.0 million for the same period in 2023. First half 2024 margin of adjusted EBITA before restructuring charges was 12.1% on revenue before billable expenses.
Refer to reconciliations in the appendix within this press release for further detail.

Net Results
In the second quarter of 2024, the income tax provision was $75.6 million on income before income taxes of $295.7 million.
Second quarter 2024 net income available to IPG common stockholders was $214.5 million, resulting in earnings of $0.57 per basic and diluted share compared to earnings of $0.69 per basic share and $0.68 per diluted share for the same period in 2023. Adjusted earnings were $0.61 per diluted share compared to adjusted earnings per diluted share of $0.74 a year ago. In 2023, earnings per share, both as reported and adjusted, included a benefit of $0.17 per diluted share related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018. Second quarter 2024 adjusted earnings excludes after-tax amortization of acquired intangibles of $16.2 million, after-tax restructuring charges of $0.2 million and an after-tax gain of $1.5 million on the sales of businesses.
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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In the first half of 2024, the income tax provision was $122.9 million on income before income taxes of $456.3 million.
First half 2024 net income available to IPG common stockholders was $324.9 million, resulting in earnings of $0.86 per basic and diluted share compared to earnings of $1.01 per basic and diluted share for the same period in 2023. Adjusted earnings were $0.96 per diluted share compared to adjusted earnings per diluted share of $1.11 a year ago. In 2023, earnings per share, both as reported and adjusted, included a benefit of $0.17 per diluted share related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018. First half 2024 adjusted earnings excludes after-tax amortization of acquired intangibles of $32.7 million, after-tax restructuring charges of $0.7 million and an after-tax loss of $6.4 million on the sales of businesses.
Refer to reconciliations in the appendix within this press release for further detail.

Operating Results

Revenue
Revenue before billable expenses of $2.33 billion in the second quarter of 2024 decreased 0.1% compared with the same period in 2023. Compared to the second quarter of 2023, the effect of foreign currency translation was negative 0.6%, the impact of net dispositions was negative 1.2%, and the resulting organic increase of net revenue was 1.7%.

Revenue before billable expenses of $4.51 billion in the first half of 2024 increased 0.1% compared with the same period in 2023. Compared to the first half of 2023, the effect of foreign currency translation was negative 0.2%, the impact of net dispositions was negative 1.2%, and the resulting organic increase of net revenue was 1.5%.

Operating Expenses
In the second quarter of 2024, total operating expenses, excluding billable expenses, decreased 0.4%. In the first half of 2024, total operating expenses, excluding billable expenses, remained flat when compared to the first half of 2023.

In the second quarter of 2024, staff cost ratio, which is total salaries and related expenses as a percentage of revenue before billable expenses, decreased to 66.9% compared to 68.7% for the same period in 2023. Total salaries and related expenses in the second quarter of 2024 were $1.56 billion, a decrease of 2.6% from a year ago. The decrease was primarily driven by decreased base salaries, benefits and tax. In the first half of 2024, staff cost ratio decreased to 69.4% compared to 70.5% for the same period in 2023. Total salaries and related expenses in the first half of 2024 were $3.13 billion, a decrease of 1.4% from a year ago. The decrease was primarily driven by factors similar to those noted above for the second quarter of 2024, partially offset by increased severance expense.
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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In the second quarter of 2024, office and other direct expenses as a percentage of revenue before billable expenses increased to 15.4% compared to 14.6% for the same period in 2023. Office and other direct expenses were $358.4 million in the second quarter of 2024, an increase of 5.3% from a year ago, primarily driven by increases in client service costs partially offset by decreases in occupancy expense. In the first half of 2024, office and other direct expenses as a percentage of revenue before billable expenses increased to 15.1% compared to 14.9% for the same period in 2023. Office and other direct expenses were $680.5 million in the first half of 2024, an increase of 1.4% from a year ago, primarily driven by factors similar to those noted above for the second quarter of 2024.

Selling, general and administrative ("SG&A") expenses were $27.6 million in the second quarter of 2024, compared to $13.9 million a year ago, primarily due to increases in technology & software expenses and base salaries, benefits and tax. SG&A expenses were $65.6 million in the first half of 2024, compared to $26.8 million a year ago, primarily due to factors similar to those noted above for the second quarter of 2024.

Depreciation and amortization expense decreased by 2.3% and 2.1% during the second quarter and the first half of 2024, respectively.

Non-Operating Results and Tax
Net interest expense decreased by $6.4 million to $21.3 million in the second quarter of 2024 from a year ago, primarily attributable to higher interest rates on net deposits. Net interest expense decreased by $7.9 million to $35.4 million in the first half of 2024 from a year ago, primarily due to factors similar to those noted above for the second quarter of 2024.

Other expense, net was $1.2 million in the second quarter of 2024, and primarily related to pension and postretirement costs partially offset by gains on sales of businesses and the classification of certain assets and liabilities as held for sale. Other expense, net was $10.7 million in the first half of 2024, which primarily related to losses on sales of businesses and the classification of certain assets and liabilities as held for sale, as well as pension and postretirement costs.

The income tax provision in the second quarter of 2024 was $75.6 million on income before income taxes of $295.7 million. This compares to an income tax provision of $10.6 million for the second quarter of 2023 on income before income taxes of $278.6 million, which included a benefit of $64.2 million related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018, which was primarily non-cash. The income tax provision in the first half of 2024 was $122.9 million on income before income taxes of $456.3 million. This compares to an income tax provision of $44.4 million for the first half of 2023 on income before income
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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taxes of $444.6 million, which included a benefit of $64.2 million related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018, which was primarily non-cash.

Balance Sheet
At June 30, 2024, cash and cash equivalents totaled $1.55 billion, compared to $2.39 billion at December 31, 2023 and $1.63 billion on June 30, 2023. Total debt was $2.94 billion at June 30, 2024, compared to $3.20 billion at December 31, 2023.

Share Repurchase Program
During the first half of 2024, the Company repurchased 4.1 million shares of its common stock at an aggregate cost of $130.1 million and an average price of $31.77 per share, including fees.

Common Stock Dividend
During the second quarter of 2024, the Company declared and paid a common stock cash dividend of $0.330 per share, for a total of $123.9 million.

For further information regarding the Company's financial results as well as certain non-GAAP measures including organic revenue before billable expenses change, adjusted EBITA, adjusted EBITA before restructuring charges and adjusted earnings per diluted share, and the reconciliations thereof, please refer to the appendix within this press release and our Investor Presentation filed on Form 8-K herewith and available on our website, www.interpublic.com.


















Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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# # #

About Interpublic
Interpublic (NYSE: IPG) (www.interpublic.com) is a values-based, data-fueled, and creatively-driven provider of marketing solutions. Home to some of the world’s best-known and most innovative communications specialists, IPG global brands include Acxiom, Craft, FCB, FutureBrand, Golin, Huge, Initiative, IPG Health, IPG Mediabrands, Jack Morton, KINESSO, MAGNA, McCann, Mediahub, Momentum, MRM, MullenLowe Global, Octagon, R/GA, UM, Weber Shandwick and more. IPG is an S&P 500 company with total revenue of $10.89 billion in 2023.


# # #

Contact Information
Tom Cunningham
(Press)
(212) 704-1326

Jerry Leshne
(Analysts, Investors)
(212) 704-1439
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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Cautionary Statement

This release contains forward-looking statements. Statements in this report that are not historical facts, including statements regarding guidance, goals, intentions, and expectations as to future plans, trends, events, or future results of operations or financial position, constitute forward-looking statements. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause our actual results and outcomes to differ materially from those reflected in the forward-looking statements, and are subject to change based on a number of factors, including those outlined under item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission ("SEC"). Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.

Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, the following:

the effects of a challenging economy on the demand for our advertising and marketing services, on our clients’ financial condition and on our business or financial condition;
our ability to attract new clients and retain existing clients;
our ability to retain and attract key employees;
risks associated with the effects of global, national and regional economic and political conditions, including counterparty risks and fluctuations in interest rates, inflation rates and currency exchange rates;
the economic or business impact of military or political conflict in key markets;
the impacts on our business of any pandemics, epidemics, disease outbreaks or other public health crises;
risks associated with assumptions we make in connection with our critical accounting estimates, including changes in assumptions associated with any effects of a challenging economy;
potential adverse effects if we are required to recognize impairment charges or other adverse accounting-related developments;
developments from changes in the regulatory and legal environment for advertising and marketing services companies around the world, including laws and regulations related to data protection and consumer privacy; and
the impact on our operations of general or directed cybersecurity events.

Investors should carefully consider the foregoing factors and the other risks and uncertainties that may affect our business, including those outlined in more detail under Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K and our quarterly reports on Form 10-Q and our other SEC filings. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update or revise publicly any of them in light of new information, future events, or otherwise.









Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

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APPENDIX
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax





THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED SUMMARY OF EARNINGS
SECOND QUARTER REPORT 2024 AND 2023
(Amounts in Millions except Per Share Data)
(UNAUDITED)
Three Months Ended June 30,
20242023Fav. (Unfav.)
% Variance
Revenue:
Revenue before Billable Expenses$2,327.1 $2,328.5 (0.1)%
Billable Expenses382.9 338.0 13.3 %
Total Revenue2,710.0 2,666.5 1.6 %
Operating Expenses:
Salaries and Related Expenses1,557.6 1,598.6 2.6 %
Office and Other Direct Expenses358.4 340.5 (5.3)%
Billable Expenses382.9 338.0 (13.3)%
Cost of Services2,298.9 2,277.1 (1.0)%
Selling, General and Administrative Expenses27.6 13.9 (98.6)%
Depreciation and Amortization 65.0 66.5 2.3 %
Restructuring Charges0.3 (1.7)>(100)%
Total Operating Expenses2,391.8 2,355.8 (1.5)%
Operating Income318.2 310.7 2.4 %
Expenses and Other Income:
Interest Expense(57.9)(55.8)
Interest Income36.6 28.1 
Other Expense, Net(1.2)(4.4)
Total (Expenses) and Other Income(22.5)(32.1)
Income Before Income Taxes295.7 278.6 
Provision for Income Taxes75.6 10.6 
Income of Consolidated Companies220.1 268.0 
Equity in Net (Loss) Income of Unconsolidated Affiliates
(0.5)0.7 
Net Income219.6 268.7 
Net Income Attributable to Non-controlling Interests(5.1)(3.2)
Net Income Available to IPG Common Stockholders$214.5 $265.5 
Earnings Per Share Available to IPG Common Stockholders:
Basic
$0.57 $0.69 
Diluted
$0.57 $0.68 
Weighted-Average Number of Common Shares Outstanding:
Basic
376.3 385.7 
Diluted
378.7 387.7 
Dividends Declared Per Common Share$0.330 $0.310 
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A1


THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
CONSOLIDATED SUMMARY OF EARNINGS
SECOND QUARTER REPORT 2024 AND 2023
(Amounts in Millions except Per Share Data)
(UNAUDITED)
Six Months Ended June 30,
20242023Fav. (Unfav.)
% Variance
Revenue:
Revenue before Billable Expenses$4,510.0 $4,505.4 0.1 %
Billable Expenses695.9 682.1 2.0 %
Total Revenue5,205.9 5,187.5 0.4 %
Operating Expenses:
Salaries and Related Expenses3,130.4 3,175.9 1.4 %
Office and Other Direct Expenses680.5 670.8 (1.4)%
Billable Expenses695.9 682.1 (2.0)%
Cost of Services4,506.8 4,528.8 0.5 %
Selling, General and Administrative Expenses65.6 26.8 >(100)%
Depreciation and Amortization 130.2 133.0 2.1 %
Restructuring Charges0.9 (0.1)>(100)%
Total Operating Expenses4,703.5 4,688.5 (0.3)%
Operating Income502.4 499.0 0.7 %
Expenses and Other Income:
Interest Expense(120.7)(105.5)
Interest Income85.3 62.2 
Other Expense, Net(10.7)(11.1)
Total (Expenses) and Other Income(46.1)(54.4)
Income Before Income Taxes456.3 444.6 
Provision for Income Taxes122.9 44.4 
Income of Consolidated Companies333.4 400.2 
Equity in Net (Loss) Income of Unconsolidated Affiliates
(0.2)0.6 
Net Income333.2 400.8 
Net Income Attributable to Non-controlling Interests(8.3)(9.3)
Net Income Available to IPG Common Stockholders$324.9 $391.5 
Earnings Per Share Available to IPG Common Stockholders:
Basic
$0.86 $1.01 
Diluted
$0.86 $1.01 
Weighted-Average Number of Common Shares Outstanding:
Basic
377.4 385.8 
Diluted
379.7 387.6 
Dividends Declared Per Common Share$0.660 $0.620 


Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A2


THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
U.S. GAAP RECONCILIATION OF NON-GAAP ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
Three Months Ended June 30, 2024
As ReportedAmortization of Acquired Intangibles Restructuring Charges
Net Gains on Sales of Businesses1
Adjusted Results (Non-GAAP)
Operating Income and Adjusted EBITA before Restructuring Charges2
$318.2 $(20.4)$(0.3)$338.9 
Total (Expenses) and Other Income3
(22.5)$2.1 (24.6)
Income Before Income Taxes295.7 (20.4)(0.3)2.1 314.3 
Provision for Income Taxes75.6 4.2 0.1 (0.6)79.3 
Equity in Net Loss of Unconsolidated Affiliates(0.5)(0.5)
Net Income Attributable to Non-controlling Interests(5.1)(5.1)
Net Income Available to IPG Common Stockholders$214.5 $(16.2)$(0.2)$1.5 $229.4 
Weighted-Average Number of Common Shares Outstanding - Basic376.3 376.3 
Dilutive effect of stock options and restricted shares2.4 2.4 
Weighted-Average Number of Common Shares Outstanding - Diluted378.7 378.7 
Earnings per Share Available to IPG Common Stockholders4:
  Basic$0.57 $(0.04)$(0.00)$0.00 $0.61 
  Diluted$0.57 $(0.04)$(0.00)$0.00 $0.61 
1 Primarily relates to gains on complete dispositions of businesses and the classification of certain assets as held for sale.
2 Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page A5 in the appendix.
3 Consists of non-operating expenses including interest expense, interest income and other expense, net.
4 Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation.
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.
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A3


THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
U.S. GAAP RECONCILIATION OF NON-GAAP ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
Six Months Ended June 30, 2024
As ReportedAmortization of Acquired Intangibles Restructuring Charges
Net Losses on Sales of Businesses1
Adjusted Results (Non-GAAP)
Operating Income and Adjusted EBITA before Restructuring Charges2
$502.4 $(41.1)$(0.9)$544.4 
Total (Expenses) and Other Income3
(46.1)$(4.7)(41.4)
Income Before Income Taxes456.3 (41.1)(0.9)(4.7)503.0 
Provision for Income Taxes122.9 8.4 0.2 (1.7)129.8 
Equity in Net Loss of Unconsolidated Affiliates(0.2)(0.2)
Net Income Attributable to Non-controlling Interests(8.3)(8.3)
Net Income Available to IPG Common Stockholders$324.9 $(32.7)$(0.7)$(6.4)$364.7 
Weighted-Average Number of Common Shares Outstanding - Basic377.4 377.4 
Dilutive effect of stock options and restricted shares2.3 2.3 
Weighted-Average Number of Common Shares Outstanding - Diluted379.7 379.7 
Earnings per Share Available to IPG Common Stockholders4:
  Basic$0.86 $(0.09)$(0.00)$(0.02)$0.97 
  Diluted$0.86 $(0.09)$(0.00)$(0.02)$0.96 
1 Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale.
2 Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page A5 in the appendix.
3 Consists of non-operating expenses including interest expense, interest income and other expense, net.
4 Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation.
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.


Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A4


THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
U.S. GAAP RECONCILIATION
OF NON-GAAP ADJUSTED RESULTS
(Amounts in Millions)
(UNAUDITED)

Three Months Ended June 30,Six Months Ended June 30,
2024202320242023
Revenue Before Billable Expenses$2,327.1 $2,328.5 $4,510.0 $4,505.4 
Non-GAAP Reconciliation:
Net Income Available to IPG Common Stockholders$214.5 $265.5 $324.9 $391.5 
Add Back:
Provision for Income Taxes75.6 10.6 122.9 44.4 
Subtract:
Total (Expenses) and Other Income(22.5)(32.1)(46.1)(54.4)
Equity in Net (Loss) Income of Unconsolidated Affiliates
(0.5)0.7 (0.2)0.6 
Net Income Attributable to Non-controlling Interests(5.1)(3.2)(8.3)(9.3)
Operating Income318.2 310.7 502.4 499.0 
Add Back:
Amortization of Acquired Intangibles20.4 21.2 41.1 42.1 
Adjusted EBITA$338.6 $331.9 $543.5 $541.1 
Adjusted EBITA Margin on Revenue before Billable Expenses %14.6 %14.3 %12.1 %12.0 %
Restructuring Charges0.3 (1.7)0.9 (0.1)
Adjusted EBITA before Restructuring Charges$338.9 $330.2 $544.4 $541.0 
Adjusted EBITA before Restructuring Charges Margin on Revenue before Billable Expenses %14.6 %14.2 %12.1 %12.0 %
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.

Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A5


THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
U.S. GAAP RECONCILIATION OF NON-GAAP ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
Three Months Ended June 30, 2023
As ReportedAmortization of Acquired Intangibles Restructuring Charges
Net Losses on Sales of Businesses1
Adjusted Results (Non-GAAP)
Operating Income and Adjusted EBITA before Restructuring Charges2
$310.7 $(21.2)$1.7 $330.2 
Total (Expenses) and Other Income3
(32.1)$(4.1)(28.0)
Income Before Income Taxes278.6 (21.2)1.7 (4.1)302.2 
Provision for Income Taxes10.6 4.2 (0.4)0.1 14.5 
Equity in Net Income of Unconsolidated Affiliates0.7 0.7 
Net Income Attributable to Non-controlling Interests(3.2)(3.2)
Net Income Available to IPG Common Stockholders$265.5 $(17.0)$1.3 $(4.0)$285.2 
Weighted-Average Number of Common Shares Outstanding - Basic385.7 385.7 
Dilutive effect of stock options and restricted shares2.0 2.0 
Weighted-Average Number of Common Shares Outstanding - Diluted387.7 387.7 
Earnings per Share Available to IPG Common Stockholders4,5:
  Basic$0.69 $(0.04)$0.00 $(0.01)$0.74 
  Diluted$0.68 $(0.04)$0.00 $(0.01)$0.74 
1 Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale, as well as a loss related to the sale of an equity investment.
2 Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page A5 in the appendix.
3 Consists of non-operating expenses including interest expense, interest income and other expense, net.
4 Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation.
5 Basic and diluted earnings per share, both As Reported and Adjusted Results (Non-GAAP), includes a positive impact of $0.17 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018.
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.
Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A6


THE INTERPUBLIC GROUP OF COMPANIES, INC. AND SUBSIDIARIES
U.S. GAAP RECONCILIATION OF NON-GAAP ADJUSTED RESULTS
(Amounts in Millions except Per Share Data)
(UNAUDITED)
Six Months Ended June 30, 2023
As ReportedAmortization of Acquired Intangibles Restructuring Charges
Net Losses on Sales of Businesses1
Adjusted Results (Non-GAAP)
Operating Income and Adjusted EBITA before Restructuring Charges2
$499.0 $(42.1)$0.1 $541.0 
Total (Expenses) and Other Income3
(54.4)$(8.3)(46.1)
Income Before Income Taxes444.6 (42.1)0.1 (8.3)494.9 
Provision for Income Taxes44.4 8.4 (0.1)1.4 54.1 
Equity in Net Income of Unconsolidated Affiliates0.6 0.6 
Net Income Attributable to Non-controlling Interests(9.3)(9.3)
Net Income Available to IPG Common Stockholders$391.5 $(33.7)$0.0 $(6.9)$432.1 
Weighted-Average Number of Common Shares Outstanding - Basic385.8 385.8 
Dilutive effect of stock options and restricted shares1.8 1.8 
Weighted-Average Number of Common Shares Outstanding - Diluted387.6 387.6 
Earnings per Share Available to IPG Common Stockholders4,5:
  Basic$1.01 $(0.09)$0.00 $(0.02)$1.12 
  Diluted$1.01 $(0.09)$0.00 $(0.02)$1.11 
1 Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale, as well as a loss related to the sale of an equity investment.
2 Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page A5 in the appendix.
3 Consists of non-operating expenses including interest expense, interest income and other expense, net.
4 Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation.
5 Basic and diluted earnings per share, both As Reported and Adjusted Results (Non-GAAP), includes a positive impact of $0.17 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018.
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.











Interpublic Group 909 Third Avenue New York, NY 10022 212-704-1200 tel 212-704-1201 fax

A7
Interpublic Group July 24, 2024 SECOND QUARTER 2024 EARNINGS CONFERENCE CALL


 
2Interpublic Group of Companies, Inc. Organic change of Net Revenue, adjusted EBITA before Restructuring Charges and adjusted diluted EPS are non-GAAP measures. Management believes these metrics 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. See our non-GAAP reconciliations of Organic Change of Net Revenue on pages 19-20 and adjusted results on pages 21-22. • Total revenue including billable expenses was $2.7 billion ◦ Organic growth of revenue before billable expenses (“net revenue”) was +1.7% ◦ US organic growth was +1.3% ◦ International organic growth was +2.6% • Net income as reported was $214.5 million • Adjusted EBITA before restructuring charges was $338.9 million, with 14.6% margin on revenue before billable expenses • Diluted EPS was $0.57 as reported and $0.61 as adjusted • Repurchased 2.2 million shares returning $67.7 million to shareholders Overview — Second Quarter 2024


 
3Interpublic Group of Companies, Inc. Three Months Ended June 30, 2024 2023 Revenue Before Billable Expenses $ 2,327.1 $ 2,328.5 Billable Expenses 382.9 338.0 Total Revenue 2,710.0 2,666.5 Salaries and Related Expenses 1,557.6 1,598.6 Office and Other Direct Expenses 358.4 340.5 Billable Expenses 382.9 338.0 Cost of Services 2,298.9 2,277.1 Selling, General and Administrative Expenses 27.6 13.9 Depreciation and Amortization 65.0 66.5 Restructuring Charges 0.3 (1.7) Total Operating Expenses 2,391.8 2,355.8 Operating Income 318.2 310.7 Interest Expense, Net (21.3) (27.7) Other Expense, Net (1.2) (4.4) Income Before Income Taxes 295.7 278.6 Provision for Income Taxes (1) 75.6 10.6 Equity in Net (Loss) Income of Unconsolidated Affiliates (0.5) 0.7 Net Income 219.6 268.7 Net Income Attributable to Non-controlling Interests (5.1) (3.2) Net Income Available to IPG Common Stockholders $ 214.5 $ 265.5 Earnings per Share Available to IPG Common Stockholders - Basic (2) $ 0.57 $ 0.69 Earnings per Share Available to IPG Common Stockholders - Diluted (2) $ 0.57 $ 0.68 Weighted-Average Number of Common Shares Outstanding - Basic 376.3 385.7 Weighted-Average Number of Common Shares Outstanding - Diluted 378.7 387.7 Dividends Declared per Common Share $ 0.330 $ 0.310 ($ in Millions, except per share amounts) Operating Performance (1) The provision for income taxes for the three months ended June 30, 2023 includes a benefit of $64.2 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018, which is primarily non-cash. (2) Basic and Diluted earnings per share for the three months ended June 30, 2023 includes a positive impact of $0.17 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018.


 
4Interpublic Group of Companies, Inc. Revenue Before Billable Expenses Three Months Ended June 30, Six Months Ended June 30, Change Change 2024 2023 (2) Organic Total 2024 2023 (2) Organic Total Media, Data & Engagement Solutions $ 1,063.5 $ 1,060.9 0.8% 0.2% $ 2,024.8 $ 2,026.8 0.2% (0.1%) IPG Mediabrands, Acxiom and our digital and commerce specialist agencies, which includes MRM, R/GA, and Huge Integrated Advertising & Creativity Led Solutions $ 910.1 $ 908.3 3.0% 0.2% $ 1,791.5 $ 1,778.8 3.1% 0.7% McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies Specialized Communications & Experiential Solutions $ 353.5 $ 359.3 1.3% (1.6%) $ 693.7 $ 699.8 1.4% (0.9%) Weber Shandwick, Golin, our sports, entertainment and experiential agencies, and IPG DXTRA Health (1) "Net Revenue". (2) Results for the three and six months ended June 30, 2023 have been recast to reflect the transfer of certain agencies between reportable segments. See reconciliation of Organic Change of Net Revenue on pages 19-20. ($ in Millions) Three Months Ended Six Months Ended $ % Change $ % Change June 30, 2023 $ 2,328.5 $ 4,505.4 Foreign currency (12.7) (0.6%) (11.1) (0.2%) Net acquisitions/(divestitures) (28.9) (1.2%) (52.3) (1.2%) Organic 40.2 1.7% 68.0 1.5% Total change (1.4) (0.1%) 4.6 0.1% June 30, 2024 $ 2,327.1 $ 4,510.0 (1)


 
5Interpublic Group of Companies, Inc. Organic Change of Net Revenue by Region Three Months Ended June 30, 2024 +1.3% United States +3.4% United Kingdom +6.3% Continental Europe +4.1% Latin America -2.4% Asia Pacific +2.6% International +1.7% Worldwide +1.5% All Other Markets “All Other Markets” includes Canada, the Middle East and Africa. Circle proportions represent consolidated Net Revenue distribution. See reconciliation of Organic Change of Net Revenue, including total Net Revenue change, on page 19.


 
6Interpublic Group of Companies, Inc. Operating Expenses % of Revenue Before Billable Expenses (1) Excludes amortization of acquired intangibles. (1) Three Months Ended June 30


 
7Interpublic Group of Companies, Inc. Three Months Ended June 30, 2024 As Reported Amortization of Acquired Intangibles Restructuring Charges (1) Net Gains on Sales of Businesses (2) Adjusted Results (Non-GAAP) Operating Income and Adjusted EBITA before Restructuring Charges (3) $ 318.2 $ (20.4) $ (0.3) $ 338.9 Total (Expenses) and Other Income (4) (22.5) $ 2.1 (24.6) Income Before Income Taxes 295.7 (20.4) (0.3) 2.1 314.3 Provision for Income Taxes 75.6 4.2 0.1 (0.6) 79.3 Effective Tax Rate 25.6 % 25.2 % Equity in Net Loss of Unconsolidated Affiliates (0.5) (0.5) Net Income Attributable to Non-controlling Interests (5.1) (5.1) DILUTED EPS COMPONENTS: Net Income Available to IPG Common Stockholders $ 214.5 $ (16.2) $ (0.2) $ 1.5 $ 229.4 Weighted-Average Number of Common Shares Outstanding 378.7 378.7 Earnings per Share Available to IPG Common Stockholders (5) $ 0.57 $ (0.04) $ (0.00) $ 0.00 $ 0.61 ($ in Millions, except per share amounts) (1) Restructuring charges of $0.3 in the second quarter of 2024 are related to adjustments to our restructuring actions taken in 2022 and 2020. (2) Primarily relates to gains on complete dispositions of businesses and the classification of certain assets as held for sale. (3) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 23. (4) Consists of non-operating expenses including interest expense, interest income, and other expense, net. (5) Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation. See full non-GAAP reconciliation of adjusted diluted earnings per share on page 21. Adjusted Diluted Earnings Per Share


 
8Interpublic Group of Companies, Inc. Six Months Ended June 30, 2024 As Reported Amortization of Acquired Intangibles Restructuring Charges (1) Net Losses on Sales of Businesses (2) Adjusted Results (Non-GAAP) Operating Income and Adjusted EBITA before Restructuring Charges (3) $ 502.4 $ (41.1) $ (0.9) $ 544.4 Total (Expenses) and Other Income (4) (46.1) $ (4.7) (41.4) Income Before Income Taxes 456.3 (41.1) (0.9) (4.7) 503.0 Provision for Income Taxes 122.9 8.4 0.2 (1.7) 129.8 Effective Tax Rate 26.9 % 25.8 % Equity in Net Loss of Unconsolidated Affiliates (0.2) (0.2) Net Income Attributable to Non-controlling Interests (8.3) (8.3) DILUTED EPS COMPONENTS: Net Income Available to IPG Common Stockholders $ 324.9 $ (32.7) $ (0.7) $ (6.4) $ 364.7 Weighted-Average Number of Common Shares Outstanding 379.7 379.7 Earnings per Share Available to IPG Common Stockholders (5) $ 0.86 $ (0.09) $ (0.00) $ (0.02) $ 0.96 ($ in Millions, except per share amounts) (1) Restructuring charges of $0.9 in the first half of 2024 are related to adjustments to our restructuring actions taken in 2022 and 2020. (2) Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale. (3) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 23. (4) Consists of non-operating expenses including interest expense, interest income, and other expense, net. (5) Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation. See full non-GAAP reconciliation of adjusted diluted earnings per share on page 22. Adjusted Diluted Earnings Per Share


 
9Interpublic Group of Companies, Inc. Three Months Ended June 30, 2024 2023 Net Income $ 219.6 $ 268.7 OPERATING ACTIVITIES: Depreciation & amortization 83.6 80.0 Other non-cash items 12.8 7.5 Net (gains) losses on sales of businesses (2.1) 2.6 Deferred taxes (49.9) (43.2) Change in working capital, net (128.4) (281.2) Change in other non-current assets & liabilities (14.9) (69.6) Net cash provided by (used in) Operating Activities $ 120.7 $ (35.2) INVESTING ACTIVITIES: Capital expenditures (34.8) (46.4) Net proceeds from sale of businesses, net of cash sold (10.8) 0.4 Purchase of short-term marketable securities — (97.5) Acquisitions, net of cash acquired — (2.3) Net proceeds from investments 2.3 21.7 Other investing activities 2.9 3.1 Net cash used in Investing Activities $ (40.4) $ (121.0) FINANCING ACTIVITIES: Repayment of long-term debt (250.1) (0.1) Common stock dividends (123.9) (119.4) Repurchases of common stock (67.7) (50.2) Distributions to noncontrolling interests (4.3) (5.4) Acquisition-related payments (2.1) (9.0) Net (decrease) increase in short-term borrowings (1.2) 1.0 Tax payments for employee shares withheld (0.3) (0.7) Proceeds from long-term debt — 296.3 Other financing activities (1.6) (2.7) Net cash used in Financing Activities $ (451.2) $ 109.8 Currency effect (12.7) (4.0) Net decrease in cash, cash equivalents and restricted cash $ (383.6) $ (50.4) ($ in Millions) Cash Flow


 
10Interpublic Group of Companies, Inc. June 30, 2024 December 31, 2023 June 30, 2023 CURRENT ASSETS: Cash and cash equivalents $ 1,545.5 $ 2,386.1 $ 1,628.1 Accounts receivable, net 4,505.9 5,768.8 4,170.0 Accounts receivable, billable to clients 2,163.9 2,229.2 2,215.9 Prepaid expenses 527.3 415.8 454.7 Assets held for sale 8.3 21.9 6.0 Other current assets 74.7 128.6 166.3 Total current assets $ 8,825.6 $ 10,950.4 $ 8,641.0 CURRENT LIABILITIES: Accounts payable $ 6,909.3 $ 8,355.0 $ 6,573.2 Accrued liabilities 488.1 705.8 562.3 Contract liabilities 609.4 684.7 690.5 Short-term borrowings 20.5 34.2 30.2 Current portion of long-term debt 0.1 250.1 250.3 Current portion of operating leases 246.6 252.6 243.5 Liabilities held for sale 13.3 48.5 5.3 Total current liabilities $ 8,287.3 $ 10,330.9 $ 8,355.3 ($ in Millions) Balance Sheet — Current Portion


 
11Interpublic Group of Companies, Inc. Senior Notes 4.65% 5.40%2.40% Total Debt = $2.9 billion ($ in Millions) 4.75% 3.375% ... ... Short-Term Debt ... 5.375% Debt Maturity Schedule Note: Our 4.200% unsecured senior notes in aggregate principal amount of $250.0 matured on April 15, 2024, and we used cash on hand to fund the principal repayment.


 
12Interpublic Group of Companies, Inc. Summary • Key drivers of growth ◦ Dynamic media offering, leading healthcare capabilities, and exceptional talent in marketing services ◦ Scaled data management and proprietary identity resolution products ◦ Seamless delivery of integrated client solutions ◦ Evolving our asset mix to focus on strongest growth opportunities • Furthering investment in emerging opportunities ◦ High-growth media channels and digital commerce ◦ Development of new media buying models ◦ Personalized, data-infused creativity, increasingly powered by Gen AI • Effective and proven expense management remains an ongoing priority ◦ Continued streamlining of operations and processes for greater efficiency ◦ Further deployment of enterprise systems • Financial strength is a continued source of value creation


 
13Interpublic Group of Companies, Inc. Appendix


 
14Interpublic Group of Companies, Inc. Six Months Ended June 30, 2024 2023 Revenue Before Billable Expenses $ 4,510.0 $ 4,505.4 Billable Expenses 695.9 682.1 Total Revenue 5,205.9 5,187.5 Salaries and Related Expenses 3,130.4 3,175.9 Office and Other Direct Expenses 680.5 670.8 Billable Expenses 695.9 682.1 Cost of Services 4,506.8 4,528.8 Selling, General and Administrative Expenses 65.6 26.8 Depreciation and Amortization 130.2 133.0 Restructuring Charges 0.9 (0.1) Total Operating Expenses 4,703.5 4,688.5 Operating Income 502.4 499.0 Interest Expense, Net (35.4) (43.3) Other Expense, Net (10.7) (11.1) Income Before Income Taxes 456.3 444.6 Provision for Income Taxes (1) 122.9 44.4 Equity in Net (Loss) Income of Unconsolidated Affiliates (0.2) 0.6 Net Income 333.2 400.8 Net Income Attributable to Non-controlling Interests (8.3) (9.3) Net Income Available to IPG Common Stockholders $ 324.9 $ 391.5 Earnings per Share Available to IPG Common Stockholders - Basic (2) $ 0.86 $ 1.01 Earnings per Share Available to IPG Common Stockholders - Diluted (2) $ 0.86 $ 1.01 Weighted-Average Number of Common Shares Outstanding - Basic 377.4 385.8 Weighted-Average Number of Common Shares Outstanding - Diluted 379.7 387.6 Dividends Declared per Common Share $ 0.660 $ 0.620 ($ in Millions, except per share amounts) Operating Performance (1) The provision for income taxes for the six months ended June 30, 2023 includes a benefit of $64.2 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018, which is primarily non-cash. (2) Basic and Diluted earnings per share for the six months ended June 30, 2023 includes a positive impact of $0.17 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018.


 
15Interpublic Group of Companies, Inc. Organic Change of Net Revenue by Region “All Other Markets” includes Canada, the Middle East and Africa. Circle proportions represent consolidated Net Revenue distribution. See reconciliation of Organic Change of Net Revenue, including total Net Revenue change, on page 20. Six Months Ended June 30, 2024 +1.7% United States +1.9% United Kingdom +7.5% Continental Europe +3.6% Latin America -5.1% Asia Pacific +1.1% International +1.5% Worldwide -2.3% All Other Markets


 
16Interpublic Group of Companies, Inc. Operating Expenses % of Revenue Before Billable Expenses (1) Excludes amortization of acquired intangibles. . Six Months Ended June 30 (1)


 
17Interpublic Group of Companies, Inc. Six Months Ended June 30, 2024 2023 Net Income $ 333.2 $ 400.8 OPERATING ACTIVITIES: Deferred taxes (43.9) (29.0) Net losses on sales of businesses 4.7 6.8 Other non-cash items 23.4 16.6 Depreciation & amortization 165.5 158.3 Change in working capital, net (468.7) (976.4) Change in other non-current assets & liabilities (50.9) (159.9) Net cash used in Operating Activities $ (36.7) $ (582.8) INVESTING ACTIVITIES: Capital expenditures (69.9) (79.3) Net proceeds from sale of businesses, net of cash sold (27.2) 1.4 Purchase of short-term marketable securities (0.2) (97.6) Acquisitions, net of cash acquired — (6.3) Net proceeds from investments 2.3 21.7 Other investing activities 4.6 4.4 Net cash used in Investing Activities $ (90.4) $ (155.7) FINANCING ACTIVITIES: Common stock dividends (250.5) (242.6) Repayment of long-term debt (250.1) (0.1) Repurchases of common stock (130.1) (128.0) Net decrease in short-term borrowings (21.6) (11.0) Tax payments for employee shares withheld (13.8) (58.0) Distributions to noncontrolling interests (8.6) (8.5) Acquisition-related payments (2.1) (10.1) Proceeds from long-term debt 0.1 296.3 Other financing activities (1.6) (2.5) Net cash used in Financing Activities $ (678.3) $ (164.5) Currency effect (32.7) (13.7) Net decrease in cash, cash equivalents and restricted cash $ (838.1) $ (916.7) ($ in Millions) Cash Flow


 
18Interpublic Group of Companies, Inc. 2024 Q1 Q2 Q3 Q4 YTD 2024 Depreciation and amortization (1) $ 44.5 $ 44.6 89.1 Amortization of acquired intangibles 20.7 20.4 41.1 Amortization of restricted stock and other non-cash compensation 16.4 18.1 34.5 Net amortization of bond discounts and deferred financing costs 0.3 0.5 0.8 2023 Q1 Q2 Q3 Q4 FY 2023 Depreciation and amortization (1) $ 45.6 $ 45.3 $ 45.0 $ 44.4 $ 180.3 Amortization of acquired intangibles 20.9 21.2 21.0 20.9 84.0 Amortization of restricted stock and other non-cash compensation 11.1 12.8 12.1 10.7 46.7 Net amortization of bond discounts and deferred financing costs 0.7 0.7 0.3 0.3 2.0 ($ in Millions) (1) Excludes amortization of acquired intangibles. Depreciation and Amortization


 
19Interpublic Group of Companies, Inc. Components of Change Change Three Months Ended June 30, 2023 (1) Foreign Currency Net Acquisitions / (Divestitures) Organic Three Months Ended June 30, 2024 Organic Total SEGMENT: Media, Data & Engagement Solutions (2) $ 1,060.9 $ (5.7) $ — $ 8.3 $ 1,063.5 0.8% 0.2% Integrated Advertising & Creativity Led Solutions (3) 908.3 (6.2) (19.4) 27.4 910.1 3.0% 0.2% Specialized Communications & Experiential Solutions (4) 359.3 (0.8) (9.5) 4.5 353.5 1.3% (1.6%) Total $ 2,328.5 $ (12.7) $ (28.9) $ 40.2 $ 2,327.1 1.7% (0.1%) GEOGRAPHIC: United States $ 1,531.8 $ — $ (25.9) $ 19.6 $ 1,525.5 1.3% (0.4%) International 796.7 (12.7) (3.0) 20.6 801.6 2.6% 0.6% United Kingdom 184.9 2.5 — 6.3 193.7 3.4% 4.8% Continental Europe 192.5 (2.5) (3.0) 12.2 199.2 6.3% 3.5% Asia Pacific 177.3 (5.8) — (4.2) 167.3 (2.4%) (5.6%) Latin America 102.4 (4.4) — 4.2 102.2 4.1% (0.2%) All Other Markets 139.6 (2.5) — 2.1 139.2 1.5% (0.3%) Worldwide $ 2,328.5 $ (12.7) $ (28.9) $ 40.2 $ 2,327.1 1.7% (0.1%) ($ in Millions) Reconciliation of Organic Change of Net Revenue (1) Results for the three months ended June 30, 2023 have been recast to reflect the transfer of certain agencies between reportable segments. (2) Comprised of IPG Mediabrands, Acxiom and our digital and commerce specialist agencies, which includes MRM, R/GA, and Huge. (3) Comprised of McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies. (4) Comprised of Weber Shandwick, Golin, our sports, entertainment and experiential agencies, and IPG DXTRA Health.


 
20Interpublic Group of Companies, Inc. ($ in Millions) Components of Change Change Six Months Ended June 30, 2023 (1) Foreign Currency Net Acquisitions / (Divestitures) Organic Six Months Ended June 30, 2024 Organic Total SEGMENT: Media, Data & Engagement Solutions (2) $ 2,026.8 $ (5.6) — $ 3.6 $ 2,024.8 0.2% (0.1%) Integrated Advertising & Creativity Led Solutions (3) 1,778.8 (6.0) (36.2) 54.9 1,791.5 3.1% 0.7% Specialized Communications & Experiential Solutions (4) 699.8 0.5 (16.1) 9.5 693.7 1.4% (0.9%) Total $ 4,505.4 $ (11.1) $ (52.3) $ 68.0 $ 4,510.0 1.5% 0.1% GEOGRAPHIC: United States $ 3,002.4 $ — $ (51.8) $ 51.2 $ 3,001.8 1.7% 0.0% International 1,503.0 (11.1) (0.5) 16.8 1,508.2 1.1% 0.3% United Kingdom 355.1 9.9 — 6.7 371.7 1.9% 4.7% Continental Europe 356.2 (1.3) (3.0) 26.8 378.7 7.5% 6.3% Asia Pacific 336.5 (11.8) 2.5 (17.1) 310.1 (5.1%) (7.8%) Latin America 187.1 (4.5) — 6.7 189.3 3.6% 1.2% All Other Markets 268.1 (3.4) — (6.3) 258.4 (2.3%) (3.6%) Worldwide $ 4,505.4 $ (11.1) $ (52.3) $ 68.0 $ 4,510.0 1.5% 0.1% Reconciliation of Organic Change of Net Revenue (1) Results for the six months ended June 30, 2023 have been recast to reflect the transfer of certain agencies between reportable segments. (2) Comprised of IPG Mediabrands, Acxiom and our digital and commerce specialist agencies, which includes MRM, R/GA, and Huge. (3) Comprised of McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies. (4) Comprised of Weber Shandwick, Golin, our sports, entertainment and experiential agencies, and IPG DXTRA Health.


 
21Interpublic Group of Companies, Inc. Three Months Ended June 30, 2024 As Reported Amortization of Acquired Intangibles Restructuring Charges (2) Net Gains on Sales of Businesses (3) Adjusted Results (Non-GAAP) Operating Income and Adjusted EBITA before Restructuring Charges (4) $ 318.2 $ (20.4) $ (0.3) $ 338.9 Total (Expenses) and Other Income (5) (22.5) $ 2.1 (24.6) Income Before Income Taxes 295.7 (20.4) (0.3) 2.1 314.3 Provision for Income Taxes 75.6 4.2 0.1 (0.6) 79.3 Effective Tax Rate 25.6 % 25.2 % Equity in Net Loss of Unconsolidated Affiliates (0.5) (0.5) Net Income Attributable to Non-controlling Interests (5.1) (5.1) Net Income Available to IPG Common Stockholders $ 214.5 $ (16.2) $ (0.2) $ 1.5 $ 229.4 Weighted-Average Number of Common Shares Outstanding - Basic 376.3 376.3 Dilutive effect of stock options and restricted shares 2.4 2.4 Weighted-Average Number of Common Shares Outstanding - Diluted 378.7 378.7 Earnings per Share Available to IPG Common Stockholders (6): Basic $ 0.57 $ (0.04) $ (0.00) $ 0.00 $ 0.61 Diluted $ 0.57 $ (0.04) $ (0.00) $ 0.00 $ 0.61 ($ in Millions, except per share amounts) (1) The table reconciles our reported results to our adjusted non-GAAP results. 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. (2) Restructuring charges of $0.3 in the second quarter of 2024 are related to adjustments to our restructuring actions taken 2022 and 2020. (3) Primarily relates to gains on complete dispositions of businesses and the classification of certain assets as held for sale. (4) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 23. (5) Consists of non-operating expenses including interest expense, interest income, and other expense, net. (6) Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation. Reconciliation of Adjusted Results (1)


 
22Interpublic Group of Companies, Inc. ($ in Millions, except per share amounts) Reconciliation of Adjusted Results (1) (1) The table reconciles our reported results to our adjusted non-GAAP results. 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. (2) Restructuring charges of $0.9 in the first half of 2024 represent adjustments to our restructuring actions taken in 2022 and 2020. (3) Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale. (4) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 23. (5) Consists of non-operating expenses including interest expense, interest income, and other expense, net. (6) Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation. Six Months Ended June 30, 2024 As Reported Amortization of Acquired Intangibles Restructuring Charges (2) Net Losses on Sales of Businesses (3) Adjusted Results (Non-GAAP) Operating Income and Adjusted EBITA before Restructuring Charges (4) $ 502.4 $ (41.1) $ (0.9) $ 544.4 Total (Expenses) and Other Income (5) (46.1) $ (4.7) (41.4) Income Before Income Taxes 456.3 (41.1) (0.9) (4.7) 503.0 Provision for Income Taxes 122.9 8.4 0.2 (1.7) 129.8 Effective Tax Rate 26.9 % 25.8 % Equity in Net Loss of Unconsolidated Affiliates (0.2) (0.2) Net Income Attributable to Non-controlling Interests (8.3) (8.3) Net Income Available to IPG Common Stockholders $ 324.9 $ (32.7) $ (0.7) $ (6.4) $ 364.7 Weighted-Average Number of Common Shares Outstanding - Basic 377.4 377.4 Dilutive effect of stock options and restricted shares 2.3 2.3 Weighted-Average Number of Common Shares Outstanding - Diluted 379.7 379.7 Earnings per Share Available to IPG Common Stockholders (6): Basic $ 0.86 $ (0.09) $ (0.00) $ (0.02) $ 0.97 Diluted $ 0.86 $ (0.09) $ (0.00) $ (0.02) $ 0.96


 
23Interpublic Group of Companies, Inc. Reconciliation of Adjusted EBITA Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue Before Billable Expenses $ 2,327.1 $ 2,328.5 $ 4,510.0 $ 4,505.4 Non-GAAP Reconciliation: Net Income Available to IPG Common Stockholders $ 214.5 $ 265.5 $ 324.9 $ 391.5 Add Back: Provision for Income Taxes 75.6 10.6 122.9 44.4 Subtract: Total (Expenses) and Other Income (22.5) (32.1) (46.1) (54.4) Equity in Net (Loss) Income of Unconsolidated Affiliates (0.5) 0.7 (0.2) 0.6 Net Income Attributable to Non-controlling Interests (5.1) (3.2) (8.3) (9.3) Operating Income $ 318.2 $ 310.7 $ 502.4 $ 499.0 Add Back: Amortization of Acquired Intangibles 20.4 21.2 41.1 42.1 Adjusted EBITA $ 338.6 $ 331.9 $ 543.5 $ 541.1 Adjusted EBITA Margin on Revenue Before Billable Expenses % 14.6 % 14.3 % 12.1 % 12.0 % Restructuring Charges (2) 0.3 (1.7) 0.9 (0.1) Adjusted EBITA before Restructuring Charges $ 338.9 $ 330.2 $ 544.4 $ 541.0 Adjusted EBITA before Restructuring Charges Margin on Revenue Before Billable Expenses % 14.6 % 14.2 % 12.1 % 12.0 % (1) ($ in Millions) (1) The table reconciles our reported results to our adjusted non-GAAP results. 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. (2) Restructuring charges of $0.3 and ($1.7) in the second quarter of 2024 and 2023, respectively, and restructuring charges of $0.9 and ($0.1) in the first half of 2024 and 2023, respectively, are related to adjustments to our restructuring actions taken in 2022 and 2020.


 
24Interpublic Group of Companies, Inc. Media, Data & Engagement Solutions (2) Integrated Advertising & Creativity Led Solutions (3) Specialized Communications & Experiential Solutions (4) Corporate and Other (5) IPG Consolidated (1) Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, 2024 2023 (6) 2024 2023 (6) 2024 2023 (6) 2024 2023 2024 2023 Revenue Before Billable Expenses $ 1,063.5 $ 1,060.9 $ 910.1 $ 908.3 $ 353.5 $ 359.3 $ 2,327.1 $ 2,328.5 Segment/Adjusted EBITA $ 181.4 $ 144.6 $ 132.7 $ 131.0 $ 53.5 $ 71.3 $ (29.0) $ (15.0) $ 338.6 $ 331.9 Restructuring Charges (7) 0.3 (1.2) — — — (0.4) — (0.1) 0.3 (1.7) Segment/Adjusted EBITA before Restructuring Charges $ 181.7 $ 143.4 $ 132.7 $ 131.0 $ 53.5 $ 70.9 $ (29.0) $ (15.1) $ 338.9 $ 330.2 Margin (%) of Revenue Before Billable Expenses 17.1 % 13.5 % 14.6 % 14.4 % 15.1 % 19.7 % 14.6 % 14.2 % ($ in Millions) (1) Adjusted EBITA before restructuring charges is calculated as net income available to IPG common stockholders before provision for incomes taxes, total (expenses) and other income, equity in net (loss) income of unconsolidated affiliates, net income attributable to non-controlling interests, amortization of acquired intangibles and restructuring charges. (2) Comprised of IPG Mediabrands, Acxiom and our digital and commerce specialist agencies, which includes MRM, R/GA, and Huge. (3) Comprised of McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies. (4) Comprised of Weber Shandwick, Golin, our sports, entertainment and experiential agencies, and IPG DXTRA Health. (5) Corporate and Other is primarily comprised of selling, general and administrative expenses including corporate office expenses as well as shared service center and certain other centrally managed expenses that are not fully allocated to operating divisions. (6) Results for the three months ended June 30, 2023 have been recast to reflect the transfer of certain agencies between reportable segments. (7) Restructuring charges of $0.3 and ($1.7) in the second quarter of 2024 and 2023, respectively, are related to adjustments to our restructuring actions taken in 2022 and 2020. Adjusted EBITA before Restructuring Charges by Segment (1)


 
25Interpublic Group of Companies, Inc. Media, Data & Engagement Solutions (2) Integrated Advertising & Creativity Led Solutions (3) Specialized Communications & Experiential Solutions (4) Corporate and Other (5) IPG Consolidated (1) Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, 2024 2023 (6) 2024 2023 (6) 2024 2023 (6) 2024 2023 2024 2023 Revenue Before Billable Expenses $ 2,024.8 $ 2,026.8 $ 1,791.5 $ 1,778.8 $ 693.7 $ 699.8 $ 4,510.0 $ 4,505.4 Segment/Adjusted EBITA $ 274.6 $ 224.4 $ 240.6 $ 229.1 $ 97.4 $ 116.5 $ (69.1) $ (28.9) $ 543.5 $ 541.1 Restructuring Charges (7) 0.3 (1.2) 0.3 0.3 0.3 0.9 — (0.1) 0.9 (0.1) Segment/Adjusted EBITA before Restructuring Charges $ 274.9 $ 223.2 $ 240.9 $ 229.4 $ 97.7 $ 117.4 $ (69.1) $ (29.0) $ 544.4 $ 541.0 Margin (%) of Revenue Before Billable Expenses 13.6 % 11.0 % 13.4 % 12.9 % 14.1 % 16.8 % 12.1 % 12.0 % ($ in Millions) Adjusted EBITA before Restructuring Charges by Segment (1) (1) Adjusted EBITA before restructuring charges is calculated as net income available to IPG common stockholders before provision for incomes taxes, total (expenses) and other income, equity in net (loss) income of unconsolidated affiliates, net income attributable to non-controlling interests, amortization of acquired intangibles and restructuring charges. (2) Comprised of IPG Mediabrands, Acxiom and our digital and commerce specialist agencies, which includes MRM, R/GA, and Huge. (3) Comprised of McCann Worldgroup, IPG Health, MullenLowe Group, Foote, Cone & Belding ("FCB"), and our domestic integrated agencies. (4) Comprised of Weber Shandwick, Golin, our sports, entertainment and experiential agencies, and IPG DXTRA Health. (5) Corporate and Other is primarily comprised of selling, general and administrative expenses including corporate office expenses as well as shared service center and certain other centrally managed expenses that are not fully allocated to operating divisions. (6) Results for the six months ended June 30, 2023 have been recast to reflect the transfer of certain agencies between reportable segments. (7) Restructuring charges of $0.9 and ($0.1) in the first half of 2024 and 2023, respectively, are related to adjustments to our restructuring actions taken in 2022 and 2020.


 
26Interpublic Group of Companies, Inc. Three Months Ended June 30, 2023 As Reported Amortization of Acquired Intangibles Restructuring Charges (2) Net Losses on Sales of Businesses (3) Adjusted Results (Non-GAAP) Operating Income and Adjusted EBITA before Restructuring Charges (4) $ 310.7 $ (21.2) $ 1.7 $ 330.2 Total (Expenses) and Other Income (5) (32.1) $ (4.1) (28.0) Income Before Income Taxes 278.6 (21.2) 1.7 (4.1) 302.2 Provision for Income Taxes 10.6 4.2 (0.4) 0.1 14.5 Effective Tax Rate 3.8 % 4.8 % Equity in Net Income of Unconsolidated Affiliates 0.7 0.7 Net Income Attributable to Non-controlling Interests (3.2) (3.2) Net Income Available to IPG Common Stockholders $ 265.5 $ (17.0) $ 1.3 $ (4.0) $ 285.2 Weighted-Average Number of Common Shares Outstanding - Basic 385.7 385.7 Dilutive effect of stock options and restricted shares 2.0 2.0 Weighted-Average Number of Common Shares Outstanding - Diluted 387.7 387.7 Earnings per Share Available to IPG Common Stockholders (6)(7): Basic $ 0.69 $ (0.04) $ 0.00 $ (0.01) $ 0.74 Diluted $ 0.68 $ (0.04) $ 0.00 $ (0.01) $ 0.74 ($ in Millions, except per share amounts) (1) The table reconciles our reported results to our adjusted non-GAAP results. 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. (2) Restructuring charges of ($1.7) in the second quarter of 2023 are related to adjustments to our restructuring actions taken 2022 and 2020. (3) Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale, as well as a loss related to the sale of an equity investment. (4) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 23. (5) Consists of non-operating expenses including interest expense, interest income, and other expense, net. (6) Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation. (7) Basic and diluted earnings per share, both As Reported and Adjusted Results (Non-GAAP), includes a positive impact of $0.17 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018. Reconciliation of Adjusted Results (1)


 
27Interpublic Group of Companies, Inc. ($ in Millions, except per share amounts) Reconciliation of Adjusted Results (1) Six Months Ended June 30, 2023 As Reported Amortization of Acquired Intangibles Restructuring Charges (2) Net Losses on Sales of Businesses (3) Adjusted Results (Non-GAAP) Operating Income and Adjusted EBITA before Restructuring Charges (4) $ 499.0 $ (42.1) $ 0.1 $ 541.0 Total (Expenses) and Other Income (5) (54.4) $ (8.3) (46.1) Income Before Income Taxes 444.6 (42.1) 0.1 (8.3) 494.9 Provision for Income Taxes 44.4 8.4 (0.1) 1.4 54.1 Effective Tax Rate 10.0 % 10.9 % Equity in Net Income of Unconsolidated Affiliates 0.6 0.6 Net Income Attributable to Non-controlling Interests (9.3) (9.3) Net Income Available to IPG Common Stockholders $ 391.5 $ (33.7) $ 0.0 $ (6.9) $ 432.1 Weighted-Average Number of Common Shares Outstanding - Basic 385.8 385.8 Dilutive effect of stock options and restricted shares 1.8 1.8 Weighted-Average Number of Common Shares Outstanding - Diluted 387.6 387.6 Earnings per Share Available to IPG Common Stockholders (6)(7): Basic $ 1.01 $ (0.09) $ 0.00 $ (0.02) $ 1.12 Diluted $ 1.01 $ (0.09) $ 0.00 $ (0.02) $ 1.11 (1) The table reconciles our reported results to our adjusted non-GAAP results. 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. (2) Restructuring charges of ($0.1) in the first half of 2023 are related to adjustments to our restructuring actions taken 2022 and 2020. (3) Primarily relates to losses on complete dispositions of businesses and the classification of certain assets as held for sale, as well as a loss related to the sale of an equity investment. (4) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 23. (5) Consists of non-operating expenses including interest expense, interest income, and other expense, net. (6) Earnings per share amounts are calculated on an unrounded basis but rounded for purposes of presentation. (7) Basic and diluted earnings per share, both As Reported and Adjusted Results (Non-GAAP), includes a positive impact of $0.17 related to the settlement of U.S. Federal Income Tax Audits for the years 2017-2018.


 
28Interpublic Group of Companies, Inc. Metrics Update


 
29Interpublic Group of Companies, Inc. Metrics Update CATEGORY: SALARIES & RELATED OFFICE & OTHER DIRECT FINANCIAL (% of Revenue Before Billable Expenses) (% of Revenue Before Billable Expenses) METRIC: Trailing Twelve Months Trailing Twelve Months Available Liquidity Base, Benefits & Tax Occupancy Expense Credit Facility Covenant Incentive Expense All Other Office & Other Direct Expenses Severance Expense Temporary Help


 
30Interpublic Group of Companies, Inc. Salaries & Related Expenses % of Revenue Before Billable Expenses, Trailing Twelve Months


 
31Interpublic Group of Companies, Inc. Salaries & Related Expenses (% of Revenue Before Billable Expenses) “All Other Salaries & Related,” not shown, was 1.1% and 1.0% for the three months ended June 30, 2024 and 2023, respectively, and 1.0% for both the six months ended June 30, 2024 and 2023. Three and Six Months Ended June 30 2024 2023


 
32Interpublic Group of Companies, Inc. Office & Other Direct Expenses % of Revenue Before Billable Expenses, Trailing Twelve Months


 
33Interpublic Group of Companies, Inc. Office & Other Direct Expenses (% of Revenue Before Billable Expenses) “All Other” primarily includes software and cloud based expenses, client service costs, travel and entertainment, professional fees, spending to support new business activity, telecommunications, non-pass through production expenses, office supplies, bad debt expense, foreign currency losses (gains), adjustments to contingent acquisition obligations and other expenses. 2024 2023 Three and Six Months Ended June 30


 
34Interpublic Group of Companies, Inc. ($ in Millions) Available Liquidity Cash, Cash Equivalents + Available Committed Credit Facilities Available Committed Credit FacilityCash and Cash Equivalents


 
35Interpublic Group of Companies, Inc. Financial Covenant Four Quarters Ended June 30, 2024 Leverage Ratio (not greater than) (1) 3.50x Actual Leverage Ratio 1.63x CREDIT AGREEMENT EBITDA RECONCILIATION: Four Quarters Ended June 30, 2024 Net Income Available to IPG Common Stockholders $ 1,031.8 Non-Operating Adjustments (2) 454.2 Operating Income $ 1,486.0 + Depreciation and Amortization 319.0 + Other Non-cash Charges Reducing Operating Income 0.9 Credit Agreement EBITDA (1): $ 1,805.9 ($ in Millions) Credit Facility Covenant (1) The leverage ratio is defined as debt as of the last day of such fiscal quarter to EBITDA (as defined in the Credit Agreement) for the four quarters then ended. Management utilizes Credit Agreement EBITDA, which is a non-GAAP financial measure, as well as the amounts shown in the table above, calculated as required by the Credit Agreement, in order to assess our compliance with such covenants. (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 (loss) income of unconsolidated affiliates, and net income attributable to non-controlling interests.


 
36Interpublic Group of Companies, Inc. Cautionary Statement This investor presentation contains forward-looking statements. Statements in this investor presentation that are not historical facts, including statements regarding guidance, goals, intentions, and expectations as to future plans, trends, events, or future results of operations or financial position, constitute forward-looking statements. Forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties, which could cause our actual results and outcomes to differ materially from those reflected in the forward-looking statements, and are subject to change based on a number of factors, including those outlined under Item 1A, Risk Factors, in our most recent Annual Report on Form 10-K, and our other filings with the Securities and Exchange Commission ("SEC"). Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Such factors include, but are not limited to, the following: ▪ the effects of a challenging economy on the demand for our advertising and marketing services, on our clients’ financial condition and on our business or financial condition; ▪ our ability to attract new clients and retain existing clients; ▪ our ability to retain and attract key employees; ▪ risks associated with the effects of global, national and regional economic conditions, including counterparty risks and fluctuations in interest rates, inflation rates and currency exchange rates; ▪ the economic or business impact of military or political conflict in key markets; ▪ the impacts on our business of any pandemics, epidemics, disease outbreaks or other public health crises; ▪ risks associated with assumptions we make in connection with our critical accounting estimates, including changes in assumptions associated with any effects of a challenging economy; ▪ potential adverse effects if we are required to recognize impairment charges or other adverse accounting-related developments; ▪ developments from changes in the regulatory and legal environment for advertising and marketing services companies around the world, including laws and regulations related to data protection and consumer privacy; and ▪ the impact on our operations of general or directed cybersecurity events. Investors should carefully consider the foregoing factors and the other risks and uncertainties that may affect our business, including those outlined under Item 1A, Risk Factors, in our most recent annual report on Form 10-K, and our other SEC filings. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update or revise publicly any of them in light of new information, future events, or otherwise.


 
v3.24.2
Cover Page Document
Jul. 24, 2024
Document Information [Line Items]  
Document Type 8-K
Entity Registrant Name INTERPUBLIC GROUP OF COMPANIES, INC.
Entity Incorporation, State or Country Code DE
Entity File Number 1-6686
Entity Tax Identification Number 13-1024020
Entity Address, Address Line One 909 Third Avenue,
Entity Address, City or Town New York,
Entity Address, State or Province NY
Entity Address, Postal Zip Code 10022
City Area Code (212)
Local Phone Number 704-1200
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, par value $0.10 per share
Trading Symbol IPG
Security Exchange Name NYSE
Entity Emerging Growth Company false
Amendment Flag false
Entity Central Index Key 0000051644
Document Period End Date Jul. 24, 2024

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