$IPG
INTERPUBLIC GROUP OF COMPANIES, INC.

2023 Q3 Form 10-Q Financial Statement

#000005164423000033 Filed on July 26, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $2.679B $2.667B $2.986B
YoY Change 1.55% -2.53% 1.83%
Cost Of Revenue $2.219B $2.277B $2.338B
YoY Change 0.14% -1.0% -0.71%
Gross Profit $459.1M $389.4M $648.3M
YoY Change 8.92% -10.59% 12.18%
Gross Profit Margin 17.14% 14.6% 21.71%
Selling, General & Admin $16.90M $13.90M $29.90M
YoY Change -8.65% -28.35% -8.0%
% of Gross Profit 3.68% 3.57% 4.61%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $66.00M $66.50M $72.10M
YoY Change -1.49% -0.89% -3.99%
% of Gross Profit 14.38% 17.08% 11.12%
Operating Expenses $2.302B $80.40M $102.0M
YoY Change 2592.05% -96.63% -5.2%
Operating Profit $376.8M $309.0M $546.3M
YoY Change 12.14% -11.49% 16.16%
Interest Expense $58.70M -$27.70M -$24.00M
YoY Change -310.39% -167.56% -20.53%
% of Operating Profit 15.58% -8.96% -4.39%
Other Income/Expense, Net -$37.30M -$1.800M -$7.800M
YoY Change -313.14% -94.75% -211.43%
Pretax Income $339.5M $278.6M $412.8M
YoY Change 2.44% -11.5% -4.73%
Income Tax $91.50M $10.60M $109.2M
% Of Pretax Income 26.95% 3.8% 26.45%
Net Earnings $243.7M $265.5M $297.2M
YoY Change -3.22% 15.64% -16.96%
Net Earnings / Revenue 9.1% 9.96% 9.95%
Basic Earnings Per Share $0.64 $0.69
Diluted Earnings Per Share $0.63 $0.68 $0.76
COMMON SHARES
Basic Shares Outstanding 384.9M shares 386.0M shares 388.5M shares
Diluted Shares Outstanding 385.5M shares 387.7M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.677B $1.731B $2.545B
YoY Change -5.16% -12.73% -22.16%
Cash & Equivalents $1.575B $1.628B $2.545B
Short-Term Investments $102.0M $102.8M
Other Short-Term Assets $73.80M $524.2M $435.0M
YoY Change -84.34% 2.42% 1.47%
Inventory
Prepaid Expenses $420.7M $456.9M $354.1M
Receivables $4.047B $6.386B $5.316B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $8.645B $8.641B $10.33B
YoY Change 1.29% -1.37% -8.07%
LONG-TERM ASSETS
Property, Plant & Equipment $627.6M $1.870B $637.4M
YoY Change -0.84% 191.51% -5.68%
Goodwill $5.055B $5.078B $5.051B
YoY Change 5.24% 4.6% 2.89%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $464.4M $734.4M $464.5M
YoY Change -1.25% 65.11% 16.24%
Total Long-Term Assets $8.382B $8.469B $8.520B
YoY Change 0.5% -0.23% -1.82%
TOTAL ASSETS
Total Short-Term Assets $8.645B $8.641B $10.33B
Total Long-Term Assets $8.382B $8.469B $8.520B
Total Assets $17.03B $17.11B $18.85B
YoY Change 0.9% -0.81% -5.35%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.448B $6.573B $8.235B
YoY Change -1.33% -4.2% -8.09%
Accrued Expenses $632.3M $788.8M $787.1M
YoY Change -5.53% 26.51% -14.27%
Deferred Revenue $688.4M $690.5M $680.0M
YoY Change 4.33% 3.93% -1.23%
Short-Term Debt $31.00M $30.20M $44.30M
YoY Change -44.44% -33.92% -6.74%
Long-Term Debt Due $250.0M $250.3M $600.0K
YoY Change 41566.67% 41616.67% -14.29%
Total Short-Term Liabilities $8.326B $8.355B $9.983B
YoY Change 1.92% -1.27% -8.33%
LONG-TERM LIABILITIES
Long-Term Debt $2.916B $2.915B $2.871B
YoY Change 0.47% 0.32% -1.3%
Other Long-Term Liabilities $543.4M $2.048B $572.6M
YoY Change -14.36% 227.63% -4.68%
Total Long-Term Liabilities $3.460B $4.963B $3.443B
YoY Change -2.19% 40.56% -1.88%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.326B $8.355B $9.983B
Total Long-Term Liabilities $3.460B $4.963B $3.443B
Total Liabilities $13.25B $13.42B $15.10B
YoY Change -1.19% -2.38% -7.38%
SHAREHOLDERS EQUITY
Retained Earnings $3.911B $3.783B $3.632B
YoY Change 13.37% 14.22% 15.15%
Common Stock $39.20M $39.20M $38.90M
YoY Change -1.01% -1.01% -1.02%
Preferred Stock
YoY Change
Treasury Stock (at cost) $340.4M -$248.2M -$120.2M
YoY Change -253.61% 67.82%
Treasury Stock Shares 3.100M shares
Shareholders Equity $3.680B $3.686B $3.648B
YoY Change
Total Liabilities & Shareholders Equity $17.03B $17.11B $18.85B
YoY Change 0.9% -0.81% -5.35%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income $243.7M $265.5M $297.2M
YoY Change -3.22% 15.64% -16.96%
Depreciation, Depletion And Amortization $66.00M $66.50M $72.10M
YoY Change -1.49% -0.89% -3.99%
Cash From Operating Activities $242.7M -$35.20M $1.268B
YoY Change 269.97% -61.23% -13.59%
INVESTING ACTIVITIES
Capital Expenditures $47.80M $46.40M $59.60M
YoY Change 3.46% 11.54% -182.89%
Acquisitions
YoY Change
Other Investing Activities -$800.0K -$74.60M -$244.3M
YoY Change -108.16% 284.54% -14470.59%
Cash From Investing Activities -$48.60M -$121.0M -$303.9M
YoY Change 33.52% 98.36% 332.91%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -225.5M 109.8M -246.5M
YoY Change 7.48% -147.12% -60.01%
NET CHANGE
Cash From Operating Activities 242.7M -35.20M 1.268B
Cash From Investing Activities -48.60M -121.0M -303.9M
Cash From Financing Activities -225.5M 109.8M -246.5M
Net Change In Cash -31.40M -46.40M 717.2M
YoY Change -82.61% -87.94% -8.1%
FREE CASH FLOW
Cash From Operating Activities $242.7M -$35.20M $1.268B
Capital Expenditures $47.80M $46.40M $59.60M
Free Cash Flow $194.9M -$81.60M $1.208B
YoY Change 904.64% -38.37% -21.5%

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CY2023Q2 ipg Ebita
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CY2023Q2 us-gaap Adjustment For Amortization
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CY2023Q2 us-gaap Depreciation
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CY2023Q2 ipg Assets Pledged As Security For Parent Company Guarantees
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