First Quarter 2023 Earnings Conference Call
Reconciliation of Adjusted Results
Operating Income and Adjusted EBITA before Restructuring Charges (3)
Total (Expenses) and Other Income (4)
Income Before Income Taxes
Provision for Income Taxes
Effective Tax Rate
Equity in Net Income of Unconsolidated Affiliates
Net Income Attributable to Non-controlling Interests
Net Income Available to IPG Common Stockholders
Weighted-Average Number of Common Shares Outstanding - Basic
Dilutive effect of stock options and restricted shares
Weighted-Average Number of Common Shares Outstanding - Diluted
Earnings per Share Available to IPG Common Stockholders (5):
Basic
Diluted
$
(3) Refer to non-GAAP reconciliation of Adjusted EBITA before Restructuring Charges on page 16.
(4) Consists of non-operating expenses including interest expense, interest income, and other expense, net.
(5) Earnings per share amounts calculated on an unrounded basis.
($ in Millions, except per share amounts)
$
(1)
$
As Reported
245.7
(35.8)
209.9
49.1
23.4%
0.1
(1.5)
159.4
394.5
3.9
398.4
0.40
0.40
Amortization of
Acquired
Intangibles
$
Three Months Ended March 31, 2022
$
(21.3) $
(21.3)
4.2
Restructuring
Charges (2)
(17.1) $
(0.04)
(0.04)
A
(6.6)
(6.6)
1.6
Net Losses on
Sales of
Businesses
(5.0) $
(0.01)
(0.01)
(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 $6.6 in the first quarter of 2022 were related to adjustments to our restructuring actions taken in 2020, which were designed to reduce our operating expenses structurally and permanently relative to
revenue and to accelerate the transformation of our business.
(6.4)
(6.4)
0.0
(0.02)
(0.02)
Adjusted
Results
(Non-GAAP)
273.6
$
(6.4) $
A
(29.4)
244.2
54.9
22.5 %
0.1
(1.5)
187.9
394.5
3.9
398.4
0.48
0.47
Interpublic Group of Companies, Inc.
18
IPGView entire presentation