First Quarter 2023 Earnings Conference Call
Reconciliation of Adjusted EBITA
Revenue Before Billable Expenses
Non-GAAP Reconciliation:
Net Income Available to IPG Common Stockholders
Add Back:
Provision for Income Taxes
Subtract:
Total (Expenses) and Other Income
Equity in Net (Loss) Income of Unconsolidated Affiliates
Net Income Attributable to Non-controlling Interests
Operating Income
Add Back:
Amortization of Acquired Intangibles
Adjusted EBITA
Adjusted EBITA Margin on Revenue Before Billable Expenses %
Restructuring Charges (2)
(1)
Adjusted EBITA before Restructuring Charges
Adjusted EBITA before Restructuring Charges Margin on
Revenue Before Billable Expenses %
$
$
$
$
$
Three Months Ended March 31,
2023
2022
2,176.9 $
126.0
33.8
(22.3)
(0.1)
(6.1)
188.3
20.9
209.2
9.6 %
1.6
210.8
9.7 %
$
$
$
2,227.2
159.4
49.1
(35.8)
0.1
(1.5)
245.7
21.3
267.0
12.0 %
6.6
273.6
12.3 %
(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 $1.6 in the first quarter of 2023 represent adjustments to our restructuring actions taken in Q4 2022, as well as adjustments to the actions taken in 2020. Restructuring charges of
$6.6 in the first quarter of 2022 were related to adjustments to our restructuring actions taken in 2020.
($ in Millions)
Interpublic Group of Companies, Inc.
16
IFGView entire presentation