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New York
|
13-1514814
|
(State or other jurisdiction of incorporation or organization)
|
(IRS Employer Identification No.)
|
|
|
437 Madison Avenue, New York, New York
|
10022
|
(Address of principal executive offices)
|
(Zip Code)
|
Yes
þ
|
No
o
|
Yes
þ
|
No
o
|
Large accelerated filer
þ
|
Accelerated filer
o
|
Non-accelerated filer
o
|
Smaller reporting company
o
|
Yes
o
|
No
þ
|
|
|
Page
|
PART I.
|
FINANCIAL INFORMATION
|
|
Item 1.
|
|
|
|
Condensed Consolidated Balance Sheets - June 30, 2015 and December 31, 2014
|
|
|
Condensed Consolidated Statements of Income - Three and six months ended June 30, 2015 and 2014
|
|
|
Condensed Consolidated Statements of Comprehensive Income - Three and six months ended June 30, 2015 and 2014
|
|
|
Condensed Consolidated Statements of Cash Flows - Six months ended June 30, 2015 and 2014
|
|
|
||
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
|
|
PART II.
|
OTHER INFORMATION
|
|
Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 6.
|
||
SIGNATURES
|
|
|
June 30, 2015
|
|
December 31, 2014
|
||||
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
||||
Current Assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
1,356.0
|
|
|
$
|
2,388.1
|
|
Short-term investments, at cost
|
6.1
|
|
|
2.2
|
|
||
Accounts receivable, net of allowance for doubtful accounts of $21.2 and $24.9
|
6,501.6
|
|
|
6,524.7
|
|
||
Work in process
|
1,511.3
|
|
|
1,166.6
|
|
||
Other current assets
|
1,125.4
|
|
|
1,108.9
|
|
||
Total Current Assets
|
10,500.4
|
|
|
11,190.5
|
|
||
Property and Equipment at cost, less accumulated depreciation of $1,244.7 and $1,221.2
|
706.6
|
|
|
708.0
|
|
||
Equity Method Investments
|
136.2
|
|
|
148.2
|
|
||
Goodwill
|
8,766.0
|
|
|
8,822.2
|
|
||
Intangible Assets, net of accumulated amortization of $648.1 and $611.4
|
358.8
|
|
|
389.4
|
|
||
Other Assets
|
307.5
|
|
|
301.4
|
|
||
TOTAL ASSETS
|
$
|
20,775.5
|
|
|
$
|
21,559.7
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
8,622.3
|
|
|
$
|
8,797.5
|
|
Customer advances
|
1,219.3
|
|
|
1,180.9
|
|
||
Current portion of debt
|
1,005.1
|
|
|
0.4
|
|
||
Short-term borrowings
|
14.1
|
|
|
7.2
|
|
||
Taxes payable
|
176.9
|
|
|
301.1
|
|
||
Other current liabilities
|
1,511.1
|
|
|
1,774.0
|
|
||
Total Current Liabilities
|
12,548.8
|
|
|
12,061.1
|
|
||
Long-Term Notes Payable
|
3,547.9
|
|
|
4,562.6
|
|
||
Long-Term Liabilities
|
763.1
|
|
|
774.3
|
|
||
Long-Term Deferred Tax Liabilities
|
651.7
|
|
|
654.7
|
|
||
Commitments and Contingent Liabilities (See Note 11)
|
|
|
|
|
|||
Temporary Equity - Redeemable Noncontrolling Interests
|
180.0
|
|
|
185.7
|
|
||
Equity:
|
|
|
|
||||
Shareholders’ Equity:
|
|
|
|
||||
Preferred stock
|
—
|
|
|
—
|
|
||
Common stock
|
59.6
|
|
|
59.6
|
|
||
Additional paid-in capital
|
865.9
|
|
|
818.6
|
|
||
Retained earnings
|
9,852.2
|
|
|
9,576.9
|
|
||
Accumulated other comprehensive income (loss)
|
(759.2
|
)
|
|
(618.2
|
)
|
||
Treasury stock, at cost
|
(7,371.7
|
)
|
|
(6,986.9
|
)
|
||
Total Shareholders’ Equity
|
2,646.8
|
|
|
2,850.0
|
|
||
Noncontrolling interests
|
437.2
|
|
|
471.3
|
|
||
Total Equity
|
3,084.0
|
|
|
3,321.3
|
|
||
TOTAL LIABILITIES AND EQUITY
|
$
|
20,775.5
|
|
|
$
|
21,559.7
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Revenue
|
$
|
3,805.3
|
|
|
$
|
3,870.9
|
|
|
$
|
7,274.5
|
|
|
$
|
7,373.0
|
|
Operating Expenses
|
3,266.7
|
|
|
3,322.5
|
|
|
6,358.2
|
|
|
6,441.9
|
|
||||
Operating Income
|
538.6
|
|
|
548.4
|
|
|
916.3
|
|
|
931.1
|
|
||||
Interest Expense
|
44.7
|
|
|
45.5
|
|
|
88.4
|
|
|
93.1
|
|
||||
Interest Income
|
10.1
|
|
|
11.8
|
|
|
19.6
|
|
|
20.4
|
|
||||
Income Before Income Taxes and Income From Equity
Method Investments
|
504.0
|
|
|
514.7
|
|
|
847.5
|
|
|
858.4
|
|
||||
Income Tax Expense
|
165.3
|
|
|
160.3
|
|
|
278.0
|
|
|
276.5
|
|
||||
Income From Equity Method Investments
|
4.0
|
|
|
4.0
|
|
|
3.0
|
|
|
4.6
|
|
||||
Net Income
|
342.7
|
|
|
358.4
|
|
|
572.5
|
|
|
586.5
|
|
||||
Net Income Attributed To Noncontrolling Interests
|
28.8
|
|
|
33.2
|
|
|
49.5
|
|
|
55.8
|
|
||||
Net Income - Omnicom Group Inc.
|
$
|
313.9
|
|
|
$
|
325.2
|
|
|
$
|
523.0
|
|
|
$
|
530.7
|
|
|
|
|
|
|
|
|
|
||||||||
Net Income Per Share - Omnicom Group Inc.:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
1.27
|
|
|
$
|
1.24
|
|
|
$
|
2.10
|
|
|
$
|
2.02
|
|
Diluted
|
$
|
1.26
|
|
|
$
|
1.23
|
|
|
$
|
2.09
|
|
|
$
|
2.00
|
|
|
|
|
|
|
|
|
|
||||||||
Dividends Declared Per Common Share
|
$
|
0.50
|
|
|
$
|
0.50
|
|
|
$
|
1.00
|
|
|
$
|
0.90
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Net Income
|
$
|
342.7
|
|
|
$
|
358.4
|
|
|
$
|
572.5
|
|
|
$
|
586.5
|
|
Unrealized gain on cash flow hedge, net of income taxes of $16.4 for the three months and $14.6 for the six months ended June 30, 2015
|
23.0
|
|
|
—
|
|
|
20.5
|
|
|
—
|
|
||||
Unrealized gain on available-for-sale securities, net of income taxes of $0.1 for the three months ended June 30, 2014 and $0.1 for the six months ended June 30, 2015 and 2014
|
—
|
|
|
0.1
|
|
|
0.2
|
|
|
0.2
|
|
||||
Foreign currency translation adjustment, net of income taxes of $81.5 and $37.7 for the three months and ($94.3) and $53.3 for the six months ended June 30, 2015 and 2014, respectively
|
158.2
|
|
|
73.3
|
|
|
(183.1
|
)
|
|
103.5
|
|
||||
Defined benefit pension and postemployment plans adjustment, net of income taxes of $1.5 and $0.9 for the three months and $3.0 and $1.8 for the six months ended June 30, 2015 and 2014, respectively
|
2.2
|
|
|
1.4
|
|
|
4.4
|
|
|
2.8
|
|
||||
Other Comprehensive Income (Loss)
|
183.4
|
|
|
74.8
|
|
|
(158.0
|
)
|
|
106.5
|
|
||||
Comprehensive Income
|
526.1
|
|
|
433.2
|
|
|
414.5
|
|
|
693.0
|
|
||||
Comprehensive Income Attributed to Noncontrolling Interests
|
34.7
|
|
|
34.7
|
|
|
32.5
|
|
|
67.0
|
|
||||
Comprehensive Income - Omnicom Group Inc.
|
$
|
491.4
|
|
|
$
|
398.5
|
|
|
$
|
382.0
|
|
|
$
|
626.0
|
|
|
Six Months Ended June 30,
|
||||||
|
2015
|
|
2014
|
||||
Cash Flows from Operating Activities:
|
|
|
|
||||
Net income
|
$
|
572.5
|
|
|
$
|
586.5
|
|
Adjustments to reconcile net income to net cash used in operating activities:
|
|
|
|
||||
Depreciation
|
92.5
|
|
|
93.1
|
|
||
Amortization of intangible assets
|
54.5
|
|
|
50.2
|
|
||
Share-based compensation
|
49.3
|
|
|
43.9
|
|
||
Excess tax benefit from share-based compensation
|
(14.3
|
)
|
|
(15.0
|
)
|
||
Other, net
|
2.3
|
|
|
0.7
|
|
||
Change in operating capital
|
(808.8
|
)
|
|
(946.9
|
)
|
||
Net Cash Used in Operating Activities
|
(52.0
|
)
|
|
(187.5
|
)
|
||
Cash Flows from Investing Activities:
|
|
|
|
||||
Capital expenditures
|
(106.7
|
)
|
|
(91.5
|
)
|
||
Acquisition of businesses and interests in affiliates, net of cash acquired
|
(25.0
|
)
|
|
(50.2
|
)
|
||
Other, net
|
9.3
|
|
|
9.5
|
|
||
Net Cash Used in Investing Activities
|
(122.4
|
)
|
|
(132.2
|
)
|
||
Cash Flows from Financing Activities:
|
|
|
|
||||
Proceeds from short-term debt
|
1.1
|
|
|
18.3
|
|
||
Dividends paid to common shareholders
|
(250.5
|
)
|
|
(211.8
|
)
|
||
Repurchases of common stock
|
(406.6
|
)
|
|
(577.8
|
)
|
||
Proceeds from stock plans
|
6.0
|
|
|
9.0
|
|
||
Acquisition of additional noncontrolling interests
|
(6.9
|
)
|
|
(21.0
|
)
|
||
Dividends paid to noncontrolling interest shareholders
|
(61.1
|
)
|
|
(66.5
|
)
|
||
Payment of contingent purchase price obligations
|
(42.3
|
)
|
|
(43.7
|
)
|
||
Excess tax benefit on share-based compensation
|
14.3
|
|
|
15.0
|
|
||
Other, net
|
(19.9
|
)
|
|
(13.9
|
)
|
||
Net Cash Used in Financing Activities
|
(765.9
|
)
|
|
(892.4
|
)
|
||
Effect of foreign exchange rate changes on cash and cash equivalents
|
(91.8
|
)
|
|
36.3
|
|
||
|
|
|
|
||||
Net Decrease in Cash and Cash Equivalents
|
(1,032.1
|
)
|
|
(1,175.8
|
)
|
||
Cash and Cash Equivalents at the Beginning of Period
|
2,388.1
|
|
|
2,710.5
|
|
||
Cash and Cash Equivalents at the End of Period
|
$
|
1,356.0
|
|
|
$
|
1,534.7
|
|
|
Three Months
|
|
Six Months
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Net Income Available for Common Shares:
|
|
|
|
|
|
|
|
||||||||
Net income - Omnicom Group Inc.
|
$
|
313.9
|
|
|
$
|
325.2
|
|
|
$
|
523.0
|
|
|
$
|
530.7
|
|
Net income allocated to participating securities
|
(3.9
|
)
|
|
(6.3
|
)
|
|
(6.7
|
)
|
|
(10.4
|
)
|
||||
|
$
|
310.0
|
|
|
$
|
318.9
|
|
|
$
|
516.3
|
|
|
$
|
520.3
|
|
Weighted Average Shares:
|
|
|
|
|
|
|
|
||||||||
Basic
|
244.5
|
|
|
256.2
|
|
|
245.5
|
|
|
257.7
|
|
||||
Dilutive stock options and restricted shares
|
1.2
|
|
|
2.0
|
|
|
1.1
|
|
|
2.1
|
|
||||
Diluted
|
245.7
|
|
|
258.2
|
|
|
246.6
|
|
|
259.8
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Anti-dilutive stock options and restricted shares
|
0.1
|
|
|
0.1
|
|
|
0.1
|
|
|
0.1
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Net Income per Common Share - Omnicom Group Inc.:
|
|
|
|
|
|
|
|
||||||||
Basic
|
$
|
1.27
|
|
|
$
|
1.24
|
|
|
$
|
2.10
|
|
|
$
|
2.02
|
|
Diluted
|
$
|
1.26
|
|
|
$
|
1.23
|
|
|
$
|
2.09
|
|
|
$
|
2.00
|
|
|
2015
|
|
2014
|
||||||||||||||||||||
|
Gross
Carrying
Value
|
|
Accumulated
Amortization
|
|
Net
Carrying
Value
|
|
Gross
Carrying
Value
|
|
Accumulated
Amortization
|
|
Net
Carrying
Value
|
||||||||||||
Goodwill
|
$
|
9,309.7
|
|
|
$
|
(543.7
|
)
|
|
$
|
8,766.0
|
|
|
$
|
9,377.6
|
|
|
$
|
(555.4
|
)
|
|
$
|
8,822.2
|
|
Intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Purchased and internally developed software
|
$
|
306.1
|
|
|
$
|
(232.4
|
)
|
|
$
|
73.7
|
|
|
$
|
298.7
|
|
|
$
|
(221.4
|
)
|
|
$
|
77.3
|
|
Customer related and other
|
700.8
|
|
|
(415.7
|
)
|
|
285.1
|
|
|
702.1
|
|
|
(390.0
|
)
|
|
312.1
|
|
||||||
|
$
|
1,006.9
|
|
|
$
|
(648.1
|
)
|
|
$
|
358.8
|
|
|
$
|
1,000.8
|
|
|
$
|
(611.4
|
)
|
|
$
|
389.4
|
|
|
2015
|
|
2014
|
||||
January 1
|
$
|
8,822.2
|
|
|
$
|
8,916.0
|
|
Acquisitions
|
68.2
|
|
|
116.6
|
|
||
Dispositions
|
(2.8
|
)
|
|
(1.5
|
)
|
||
Foreign currency translation
|
(121.6
|
)
|
|
61.3
|
|
||
June 30
|
$
|
8,766.0
|
|
|
$
|
9,092.4
|
|
|
2015
|
|
2014
|
||||
Credit Agreement
|
$
|
2,500.0
|
|
|
$
|
2,500.0
|
|
Uncommitted credit lines
|
915.6
|
|
|
937.8
|
|
||
Available and unused credit lines
|
$
|
3,415.6
|
|
|
$
|
3,437.8
|
|
|
2015
|
|
2014
|
||||
5.9% Senior Notes due 2016
|
$
|
1,000.0
|
|
|
$
|
1,000.0
|
|
6.25% Senior Notes due 2019
|
500.0
|
|
|
500.0
|
|
||
4.45% Senior Notes due 2020
|
1,000.0
|
|
|
1,000.0
|
|
||
3.625% Senior Notes due 2022
|
1,250.0
|
|
|
1,250.0
|
|
||
3.65% Senior Notes due 2024
|
750.0
|
|
|
750.0
|
|
||
Other notes and loans
|
0.4
|
|
|
0.5
|
|
||
|
4,500.4
|
|
|
4,500.5
|
|
||
Unamortized premium (discount) on Senior Notes, net
|
10.7
|
|
|
11.1
|
|
||
Adjustment to carrying value for interest rate swaps
|
41.9
|
|
|
51.4
|
|
||
|
4,553.0
|
|
|
4,563.0
|
|
||
Current portion of debt
|
(1,005.1
|
)
|
|
(0.4
|
)
|
||
Long-term notes payable
|
$
|
3,547.9
|
|
|
$
|
4,562.6
|
|
|
Americas
|
|
EMEA
|
|
Asia Pacific
|
||||||
2015
|
|
|
|
|
|
||||||
Revenue - Three months ended
|
$
|
2,364.1
|
|
|
$
|
1,046.7
|
|
|
$
|
394.5
|
|
Revenue - Six months ended
|
4,515.0
|
|
|
2,008.2
|
|
|
751.3
|
|
|||
Long-lived assets and goodwill
|
6,135.5
|
|
|
2,790.0
|
|
|
547.1
|
|
|||
2014
|
|
|
|
|
|
||||||
Revenue - Three months ended
|
$
|
2,295.2
|
|
|
$
|
1,173.9
|
|
|
$
|
401.8
|
|
Revenue - Six months ended
|
4,376.3
|
|
|
2,235.6
|
|
|
761.1
|
|
|||
Long-lived assets and goodwill
|
6,124.1
|
|
|
3,091.7
|
|
|
613.8
|
|
|
2015
|
|
2014
|
||||
Service cost
|
$
|
2.4
|
|
|
$
|
3.6
|
|
Interest cost
|
3.4
|
|
|
3.5
|
|
||
Expected return on plan assets
|
(1.4
|
)
|
|
(1.5
|
)
|
||
Amortization of prior service cost
|
2.2
|
|
|
2.2
|
|
||
Amortization of actuarial (gains) losses
|
2.8
|
|
|
1.1
|
|
||
|
$
|
9.4
|
|
|
$
|
8.9
|
|
|
2015
|
|
2014
|
||||
Service cost
|
$
|
2.4
|
|
|
$
|
2.0
|
|
Interest cost
|
2.2
|
|
|
2.2
|
|
||
Amortization of prior service cost
|
1.6
|
|
|
1.1
|
|
||
Amortization of actuarial (gains) losses
|
0.8
|
|
|
0.4
|
|
||
|
$
|
7.0
|
|
|
$
|
5.7
|
|
|
Three Months
|
|
Six Months
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Salary and service costs
|
$
|
2,789.7
|
|
|
$
|
2,794.6
|
|
|
$
|
5,410.5
|
|
|
$
|
5,417.4
|
|
Office and general expenses
|
477.0
|
|
|
527.9
|
|
|
947.7
|
|
|
1,024.5
|
|
||||
|
$
|
3,266.7
|
|
|
$
|
3,322.5
|
|
|
$
|
6,358.2
|
|
|
$
|
6,441.9
|
|
|
2015
|
|
2014
|
||||
(Increase) decrease in accounts receivable
|
$
|
(127.2
|
)
|
|
$
|
175.0
|
|
(Increase) decrease in work in process and other current assets
|
(433.6
|
)
|
|
(215.8
|
)
|
||
Increase (decrease) in accounts payable
|
(1.5
|
)
|
|
(400.5
|
)
|
||
Increase (decrease) in customer advances and other current liabilities
|
(176.8
|
)
|
|
(389.1
|
)
|
||
Change in other assets and liabilities, net
|
(69.7
|
)
|
|
(116.5
|
)
|
||
|
$
|
(808.8
|
)
|
|
$
|
(946.9
|
)
|
|
|
|
|
||||
Income taxes paid
|
$
|
330.3
|
|
|
$
|
345.5
|
|
Interest paid
|
$
|
92.8
|
|
|
$
|
100.5
|
|
2015
|
Unrealized Gain (Loss) on Cash Flow Hedge
|
|
Unrealized
Gain (Loss) on Available-for-Sale Securities
|
|
Defined Benefit Pension and Postemployment Plans
|
|
Foreign
Currency Translation
|
|
Total
|
||||||||||
January 1
|
$
|
—
|
|
|
$
|
(1.2
|
)
|
|
$
|
(92.1
|
)
|
|
$
|
(524.9
|
)
|
|
$
|
(618.2
|
)
|
Other comprehensive income (loss) before reclassifications
|
20.5
|
|
|
0.2
|
|
|
—
|
|
|
(166.1
|
)
|
|
(145.4
|
)
|
|||||
Amounts reclassified from accumulated other comprehensive income (loss)
|
—
|
|
|
—
|
|
|
4.4
|
|
|
—
|
|
|
4.4
|
|
|||||
Other comprehensive income (loss)
|
20.5
|
|
|
0.2
|
|
|
4.4
|
|
|
(166.1
|
)
|
|
(141.0
|
)
|
|||||
June 30
|
$
|
20.5
|
|
|
$
|
(1.0
|
)
|
|
$
|
(87.7
|
)
|
|
$
|
(691.0
|
)
|
|
$
|
(759.2
|
)
|
2014
|
|
|
|
|
|
|
|
|
|
||||||||||
January 1
|
$
|
—
|
|
|
$
|
(1.6
|
)
|
|
$
|
(68.8
|
)
|
|
$
|
(121.2
|
)
|
|
$
|
(191.6
|
)
|
Other comprehensive income (loss) before reclassifications
|
—
|
|
|
0.2
|
|
|
—
|
|
|
92.1
|
|
|
92.3
|
|
|||||
Amounts reclassified from accumulated other comprehensive income (loss)
|
—
|
|
|
—
|
|
|
2.8
|
|
|
—
|
|
|
2.8
|
|
|||||
Other comprehensive income (loss)
|
—
|
|
|
0.2
|
|
|
2.8
|
|
|
92.1
|
|
|
95.1
|
|
|||||
June 30
|
$
|
—
|
|
|
$
|
(1.4
|
)
|
|
$
|
(66.0
|
)
|
|
$
|
(29.1
|
)
|
|
$
|
(96.5
|
)
|
|
2015
|
|
2014
|
||||
Amortization of defined benefit pension and postemployment plans:
|
|
|
|
||||
Prior service cost
|
$
|
3.8
|
|
|
$
|
3.3
|
|
Actuarial (gains) losses
|
3.6
|
|
|
1.5
|
|
||
Net periodic benefit cost (see Note 8)
|
7.4
|
|
|
4.8
|
|
||
Income taxes
|
3.0
|
|
|
2.0
|
|
||
Periodic benefit cost, net of income taxes
|
$
|
4.4
|
|
|
$
|
2.8
|
|
2015
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
1,356.0
|
|
|
|
|
|
|
$
|
1,356.0
|
|
||||
Short-term investments
|
6.1
|
|
|
|
|
|
|
6.1
|
|
||||||
Available-for-sale securities
|
5.1
|
|
|
|
|
|
|
5.1
|
|
||||||
Interest rate and foreign currency derivative instruments
|
|
|
$
|
72.6
|
|
|
|
|
72.6
|
|
|||||
|
|
|
|
|
|
|
|
||||||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Foreign currency derivative instruments
|
|
|
$
|
0.3
|
|
|
|
|
$
|
0.3
|
|
||||
Contingent purchase price obligations
|
|
|
|
|
$
|
306.0
|
|
|
306.0
|
|
2014
|
|
|
|
|
|
|
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
2,388.1
|
|
|
|
|
|
|
$
|
2,388.1
|
|
||||
Short-term investments
|
2.2
|
|
|
|
|
|
|
2.2
|
|
||||||
Available-for-sale securities
|
4.9
|
|
|
|
|
|
|
4.9
|
|
||||||
Interest rate and foreign currency derivative instruments
|
|
|
$
|
43.1
|
|
|
|
|
43.1
|
|
|||||
|
|
|
|
|
|
|
|
||||||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Foreign currency derivative instruments
|
|
|
$
|
0.4
|
|
|
|
|
$
|
0.4
|
|
||||
Contingent purchase price obligations
|
|
|
|
|
$
|
300.7
|
|
|
300.7
|
|
|
2015
|
|
2014
|
||||
January 1
|
$
|
300.7
|
|
|
$
|
220.2
|
|
Acquisitions
|
51.6
|
|
|
90.8
|
|
||
Revaluation and interest
|
3.8
|
|
|
0.1
|
|
||
Payments
|
(42.3
|
)
|
|
(43.7
|
)
|
||
Foreign currency translation
|
(7.8
|
)
|
|
4.3
|
|
||
June 30
|
$
|
306.0
|
|
|
$
|
271.7
|
|
|
2015
|
|
2014
|
||||||||||||
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
1,356.0
|
|
|
$
|
1,356.0
|
|
|
$
|
2,388.1
|
|
|
$
|
2,388.1
|
|
Short-term investments
|
6.1
|
|
|
6.1
|
|
|
2.2
|
|
|
2.2
|
|
||||
Available-for-sale securities
|
5.1
|
|
|
5.1
|
|
|
4.9
|
|
|
4.9
|
|
||||
Interest rate and foreign currency derivative instruments
|
72.6
|
|
|
72.6
|
|
|
43.1
|
|
|
43.1
|
|
||||
Cost method investments
|
21.6
|
|
|
21.6
|
|
|
21.8
|
|
|
21.8
|
|
||||
|
|
|
|
|
|
|
|
||||||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Short-term borrowings
|
$
|
14.1
|
|
|
$
|
14.1
|
|
|
$
|
7.2
|
|
|
$
|
7.2
|
|
Foreign currency derivative instruments
|
0.3
|
|
|
0.3
|
|
|
0.4
|
|
|
0.4
|
|
||||
Contingent purchase price obligations
|
306.0
|
|
|
306.0
|
|
|
300.7
|
|
|
300.7
|
|
||||
Debt
|
4,553.0
|
|
|
4,642.9
|
|
|
4,563.0
|
|
|
4,754.9
|
|
|
2015
|
|
2014
|
||||
Revenue
|
$
|
3,805.3
|
|
|
$
|
3,870.9
|
|
Operating Expenses:
|
|
|
|
||||
Salary and service costs
|
2,789.7
|
|
|
2,794.6
|
|
||
Office and general expenses
|
477.0
|
|
|
527.9
|
|
||
Total Operating Expenses
|
3,266.7
|
|
|
3,322.5
|
|
||
Add back: Amortization of intangible assets
|
27.1
|
|
|
25.8
|
|
||
|
3,239.6
|
|
|
3,296.7
|
|
||
Earnings before interest, taxes and amortization of intangible assets (“EBITA”)
|
565.7
|
|
|
574.2
|
|
||
EBITA Margin - %
|
14.9
|
%
|
|
14.8
|
%
|
||
Deduct: Amortization of intangible assets
|
27.1
|
|
|
25.8
|
|
||
Operating Income
|
538.6
|
|
|
548.4
|
|
||
Operating Margin - %
|
14.2
|
%
|
|
14.2
|
%
|
||
Interest Expense
|
44.7
|
|
|
45.5
|
|
||
Interest Income
|
10.1
|
|
|
11.8
|
|
||
Income Before Income Taxes and Income From Equity Method Investments
|
504.0
|
|
|
514.7
|
|
||
Income Tax Expense
|
165.3
|
|
|
160.3
|
|
||
Income From Equity Method Investments
|
4.0
|
|
|
4.0
|
|
||
Net Income
|
342.7
|
|
|
358.4
|
|
||
Net Income Attributed To Noncontrolling Interests
|
28.8
|
|
|
33.2
|
|
||
Net Income - Omnicom Group Inc.
|
$
|
313.9
|
|
|
$
|
325.2
|
|
|
Total
|
|
Domestic
|
|
International
|
|||||||||||||||
|
$
|
|
%
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
June 30, 2014
|
$
|
3,870.9
|
|
|
|
|
$
|
2,061.3
|
|
|
|
|
$
|
1,809.6
|
|
|
|
|||
Components of revenue change:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Foreign exchange impact
|
(274.6
|
)
|
|
(7.1
|
)%
|
|
—
|
|
|
—
|
%
|
|
(274.6
|
)
|
|
(15.2
|
)%
|
|||
Acquisitions, net of dispositions
|
4.7
|
|
|
0.1
|
%
|
|
(10.9
|
)
|
|
(0.6
|
)%
|
|
15.6
|
|
|
0.9
|
%
|
|||
Organic growth
|
204.3
|
|
|
5.3
|
%
|
|
95.9
|
|
|
4.7
|
%
|
|
108.4
|
|
|
6.0
|
%
|
|||
June 30, 2015
|
$
|
3,805.3
|
|
|
(1.7
|
)%
|
|
$
|
2,146.3
|
|
|
4.1
|
%
|
|
$
|
1,659.0
|
|
|
(8.3
|
)%
|
•
|
The foreign exchange impact is calculated by first converting the current period’s local currency revenue using the average exchange rates from the equivalent prior period to arrive at a constant currency revenue (in this case
$4,079.9 million
for the Total column). The foreign exchange impact equals the difference between the current period revenue in U.S. Dollars and the current period revenue in constant currency (
$3,805.3 million
less
$4,079.9 million
for the Total column).
|
•
|
The acquisition component is calculated by aggregating the applicable prior period revenue of the acquired businesses, less revenue of any business included in the prior period revenue that was disposed of subsequent to the prior period.
|
•
|
Organic growth is calculated by subtracting both the foreign exchange and acquisition components from total revenue growth.
|
•
|
The percentage change is calculated by dividing the individual component amount by the prior period revenue base of that component (
$3,870.9 million
for the Total column).
|
|
$
|
|
% Change
|
|
% Organic Growth
|
||||
Americas:
|
|
|
|
|
|
||||
North America
|
$
|
2,281.5
|
|
|
4.6
|
%
|
|
5.9
|
%
|
Latin America
|
82.6
|
|
|
(27.8
|
)%
|
|
(9.6
|
)%
|
|
EMEA:
|
|
|
|
|
|
||||
Europe
|
978.8
|
|
|
(11.9
|
)%
|
|
4.4
|
%
|
|
Middle East and Africa
|
67.9
|
|
|
7.6
|
%
|
|
11.9
|
%
|
|
|
|
|
|
|
|
||||
Asia Pacific
|
394.5
|
|
|
(1.8
|
)%
|
|
7.6
|
%
|
|
|
$
|
3,805.3
|
|
|
(1.7
|
)%
|
|
5.3
|
%
|
|
Three Months Ended June 30,
|
||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015 vs. 2014
|
||||||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$
|
|
%
Change
|
|
% Organic Growth
|
||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Advertising
|
$
|
1,922.1
|
|
|
50.5
|
%
|
|
$
|
1,944.6
|
|
|
50.2
|
%
|
|
$
|
(22.5
|
)
|
|
(1.2
|
)%
|
|
6.4
|
%
|
CRM
|
1,241.8
|
|
|
32.6
|
%
|
|
1,298.4
|
|
|
33.6
|
%
|
|
(56.6
|
)
|
|
(4.4
|
)%
|
|
4.3
|
%
|
|||
Public relations
|
353.9
|
|
|
9.3
|
%
|
|
356.9
|
|
|
9.2
|
%
|
|
(3.0
|
)
|
|
(0.9
|
)%
|
|
0.3
|
%
|
|||
Specialty communications
|
287.5
|
|
|
7.6
|
%
|
|
271.0
|
|
|
7.0
|
%
|
|
16.5
|
|
|
6.1
|
%
|
|
8.0
|
%
|
|||
|
$
|
3,805.3
|
|
|
|
|
$
|
3,870.9
|
|
|
|
|
$
|
(65.6
|
)
|
|
(1.7
|
)%
|
|
5.3
|
%
|
|
|
2015
|
|
2014
|
||
Food and Beverage
|
|
13
|
%
|
|
13
|
%
|
Consumer Products
|
|
10
|
%
|
|
10
|
%
|
Pharmaceuticals and Health Care
|
|
11
|
%
|
|
10
|
%
|
Financial Services
|
|
7
|
%
|
|
7
|
%
|
Technology
|
|
9
|
%
|
|
9
|
%
|
Auto
|
|
8
|
%
|
|
8
|
%
|
Travel and Entertainment
|
|
6
|
%
|
|
6
|
%
|
Telecommunications
|
|
5
|
%
|
|
5
|
%
|
Retail
|
|
7
|
%
|
|
6
|
%
|
Other
|
|
24
|
%
|
|
26
|
%
|
|
Three Months Ended June 30,
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015 vs. 2014
|
|||||||||||||||||||||
|
$
|
|
%
of
Revenue
|
|
% of
Total
Operating
Expenses
|
|
$
|
|
%
of
Revenue
|
|
% of
Total
Operating
Expenses
|
|
$
Change
|
|
%
Change
|
|||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Revenue
|
$
|
3,805.3
|
|
|
|
|
|
|
$
|
3,870.9
|
|
|
|
|
|
|
$
|
(65.6
|
)
|
|
(1.7
|
)%
|
||||
Operating Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Salary and service costs
|
2,789.7
|
|
|
73.3
|
%
|
|
85.4
|
%
|
|
2,794.6
|
|
|
72.2
|
%
|
|
84.1
|
%
|
|
(4.9
|
)
|
|
(0.2
|
)%
|
|||
Office and general expenses
|
477.0
|
|
|
12.5
|
%
|
|
14.6
|
%
|
|
527.9
|
|
|
13.6
|
%
|
|
15.9
|
%
|
|
(50.9
|
)
|
|
(9.6
|
)%
|
|||
Operating Expenses
|
3,266.7
|
|
|
85.8
|
%
|
|
|
|
3,322.5
|
|
|
85.8
|
%
|
|
|
|
(55.8
|
)
|
|
(1.7
|
)%
|
|||||
Operating Income
|
$
|
538.6
|
|
|
14.2
|
%
|
|
|
|
$
|
548.4
|
|
|
14.2
|
%
|
|
|
|
$
|
(9.8
|
)
|
|
(1.8
|
)%
|
|
2015
|
|
2014
|
||||
Revenue
|
$
|
7,274.5
|
|
|
$
|
7,373.0
|
|
Operating Expenses:
|
|
|
|
||||
Salary and service costs
|
5,410.5
|
|
|
5,417.4
|
|
||
Office and general expenses
|
947.7
|
|
|
1,024.5
|
|
||
Total Operating Expenses
|
6,358.2
|
|
|
6,441.9
|
|
||
Add back: Amortization of intangible assets
|
54.5
|
|
|
50.2
|
|
||
|
6,303.7
|
|
|
6,391.7
|
|
||
Earnings before interest, taxes and amortization of intangible assets (“EBITA”)
|
970.8
|
|
|
981.3
|
|
||
EBITA Margin - %
|
13.3
|
%
|
|
13.3
|
%
|
||
Deduct: Amortization of intangible assets
|
54.5
|
|
|
50.2
|
|
||
Operating Income
|
916.3
|
|
|
931.1
|
|
||
Operating Margin - %
|
12.6
|
%
|
|
12.6
|
%
|
||
Interest Expense
|
88.4
|
|
|
93.1
|
|
||
Interest Income
|
19.6
|
|
|
20.4
|
|
||
Income Before Income Taxes and Income From Equity Method Investments
|
847.5
|
|
|
858.4
|
|
||
Income Tax Expense
|
278.0
|
|
|
276.5
|
|
||
Income From Equity Method Investments
|
3.0
|
|
|
4.6
|
|
||
Net Income
|
572.5
|
|
|
586.5
|
|
||
Net Income Attributed To Noncontrolling Interests
|
49.5
|
|
|
55.8
|
|
||
Net Income - Omnicom Group Inc.
|
$
|
523.0
|
|
|
$
|
530.7
|
|
|
Total
|
|
Domestic
|
|
International
|
|||||||||||||||
|
$
|
|
%
|
|
$
|
|
%
|
|
$
|
|
%
|
|||||||||
June 30, 2014
|
$
|
7,373.0
|
|
|
|
|
$
|
3,933.1
|
|
|
|
|
$
|
3,439.9
|
|
|
|
|||
Components of revenue change:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Foreign exchange impact
|
(500.5
|
)
|
|
(6.8
|
)%
|
|
—
|
|
|
—
|
%
|
|
(500.5
|
)
|
|
(14.5
|
)%
|
|||
Acquisitions, net of dispositions
|
19.0
|
|
|
0.3
|
%
|
|
(15.3
|
)
|
|
(0.3
|
)%
|
|
34.3
|
|
|
1.0
|
%
|
|||
Organic growth
|
383.0
|
|
|
5.2
|
%
|
|
186.7
|
|
|
4.7
|
%
|
|
196.3
|
|
|
5.7
|
%
|
|||
June 30, 2015
|
$
|
7,274.5
|
|
|
(1.3
|
)%
|
|
$
|
4,104.5
|
|
|
4.4
|
%
|
|
$
|
3,170.0
|
|
|
(7.8
|
)%
|
•
|
The foreign exchange impact is calculated by first converting the current period’s local currency revenue using the average exchange rates from the equivalent prior period to arrive at a constant currency revenue (in this case
$7,775.0 million
for the Total column). The foreign exchange impact equals the difference between the current period revenue in U.S. Dollars and the current period revenue in constant currency (
$7,274.5 million
less
$7,775.0 million
for the Total column).
|
•
|
The acquisition component is calculated by aggregating the applicable prior period revenue of the acquired businesses, less revenue of any business included in the prior period revenue that was disposed of subsequent to the prior period.
|
•
|
Organic growth is calculated by subtracting both the foreign exchange and acquisition components from total revenue growth.
|
•
|
The percentage change is calculated by dividing the individual component amount by the prior period revenue base of that component (
$7,373.0 million
for the Total column).
|
|
Revenue
|
|
% Change
|
|
% Organic Growth
|
||||
Americas:
|
|
|
|
|
|
||||
North America
|
$
|
4,348.6
|
|
|
4.3
|
%
|
|
5.4
|
%
|
Latin America
|
166.4
|
|
|
(19.6
|
)%
|
|
(3.7
|
)%
|
|
EMEA:
|
|
|
|
|
|
||||
Europe
|
1,880.2
|
|
|
(11.2
|
)%
|
|
4.7
|
%
|
|
Middle East and Africa
|
128.0
|
|
|
7.7
|
%
|
|
11.3
|
%
|
|
|
|
|
|
|
|
||||
Asia Pacific
|
751.3
|
|
|
(1.3
|
)%
|
|
7.2
|
%
|
|
|
$
|
7,274.5
|
|
|
(1.3
|
)%
|
|
5.2
|
%
|
|
Six Months Ended June 30,
|
||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015 vs. 2014
|
||||||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$
|
|
%
Change
|
|
% Organic Growth
|
||||||||||
Advertising
|
$
|
3,631.3
|
|
|
49.9
|
%
|
|
$
|
3,637.8
|
|
|
49.3
|
%
|
|
$
|
(6.5
|
)
|
|
(0.2
|
)%
|
|
7.0
|
%
|
CRM
|
2,411.4
|
|
|
33.2
|
%
|
|
2,529.1
|
|
|
34.3
|
%
|
|
(117.7
|
)
|
|
(4.7
|
)%
|
|
3.5
|
%
|
|||
Public relations
|
684.7
|
|
|
9.4
|
%
|
|
682.3
|
|
|
9.3
|
%
|
|
2.4
|
|
|
0.4
|
%
|
|
1.6
|
%
|
|||
Specialty communications
|
547.1
|
|
|
7.5
|
%
|
|
523.8
|
|
|
7.1
|
%
|
|
23.3
|
|
|
4.5
|
%
|
|
5.4
|
%
|
|||
|
$
|
7,274.5
|
|
|
|
|
$
|
7,373.0
|
|
|
|
|
$
|
(98.5
|
)
|
|
(1.3
|
)%
|
|
5.2
|
%
|
Industry
|
|
2015
|
|
2014
|
||
Food and Beverage
|
|
13
|
%
|
|
13
|
%
|
Consumer Products
|
|
9
|
%
|
|
9
|
%
|
Pharmaceuticals and Health Care
|
|
11
|
%
|
|
10
|
%
|
Financial Services
|
|
7
|
%
|
|
7
|
%
|
Technology
|
|
9
|
%
|
|
9
|
%
|
Auto
|
|
8
|
%
|
|
8
|
%
|
Travel and Entertainment
|
|
6
|
%
|
|
6
|
%
|
Telecommunications
|
|
5
|
%
|
|
5
|
%
|
Retail
|
|
7
|
%
|
|
7
|
%
|
Other
|
|
25
|
%
|
|
26
|
%
|
|
Six Months Ended June 30,
|
|||||||||||||||||||||||||
|
2015
|
|
2014
|
|
2015 vs. 2014
|
|||||||||||||||||||||
|
$
|
|
%
of
Revenue
|
|
% of
Total
Operating
Expenses
|
|
$
|
|
%
of
Revenue
|
|
% of
Total
Operating
Expenses
|
|
$
Change
|
|
%
Change
|
|||||||||||
Revenue
|
$
|
7,274.5
|
|
|
|
|
|
|
$
|
7,373.0
|
|
|
|
|
|
|
$
|
(98.5
|
)
|
|
(1.3
|
)%
|
||||
Operating Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Salary and service costs
|
5,410.5
|
|
|
74.4
|
%
|
|
85.1
|
%
|
|
5,417.4
|
|
|
73.5
|
%
|
|
84.1
|
%
|
|
(6.9
|
)
|
|
(0.1
|
)%
|
|||
Office and general expenses
|
947.7
|
|
|
13.0
|
%
|
|
14.9
|
%
|
|
1,024.5
|
|
|
13.9
|
%
|
|
15.9
|
%
|
|
(76.8
|
)
|
|
(7.5
|
)%
|
|||
Operating Expenses
|
6,358.2
|
|
|
87.4
|
%
|
|
|
|
|
6,441.9
|
|
|
87.4
|
%
|
|
|
|
|
(83.7
|
)
|
|
(1.3
|
)%
|
|||
Operating Income
|
$
|
916.3
|
|
|
12.6
|
%
|
|
|
|
$
|
931.1
|
|
|
12.6
|
%
|
|
|
|
|
$
|
(14.8
|
)
|
|
(1.6
|
)%
|
|
June 30,
|
||
|
2015
|
|
2014
|
Long-Term Growth Rate
|
4%
|
|
4%
|
WACC
|
10.1% - 10.7%
|
|
9.9% - 10.6%
|
|
2015
|
|
2014
|
||||
Average amount outstanding during the quarter
|
$
|
1,239.3
|
|
|
$
|
961.4
|
|
Maximum amount outstanding during the quarter
|
$
|
1,720.7
|
|
|
$
|
1,259.0
|
|
Total issuances during the quarter
|
$
|
9,842.4
|
|
|
$
|
4,807.6
|
|
Average days outstanding
|
11.5
|
|
|
18.2
|
|
||
Weighted average interest rate
|
0.47
|
%
|
|
0.27
|
%
|
Period
|
|
Total
Number of
Shares Purchased
|
|
Average
Price Paid
Per Share
|
|
Total Number
of Shares Purchased
as Part of Publicly
Announced Plans
or Programs
|
|
Maximum Number
of Shares that May
Yet Be Purchased Under
the Plans or Programs
|
|||
|
|
|
|
|
|
|
|
|
|||
April 2015
|
|
18,014
|
|
|
$77.38
|
|
—
|
|
|
—
|
|
May 2015
|
|
1,196,083
|
|
|
$77.08
|
|
—
|
|
|
—
|
|
June 2015
|
|
566,716
|
|
|
$74.75
|
|
—
|
|
|
—
|
|
|
|
1,780,813
|
|
|
$76.34
|
|
—
|
|
|
—
|
|
12
|
Computation of Ratio of Earnings to Fixed Charges.
|
|
|
31.1
|
Certification of the Chief Executive Officer and President required by Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended.
|
|
|
31.2
|
Certification of the Executive Vice President and Chief Financial Officer required by Rule 13a-14(a) under the Securities Exchange Act of 1934, as amended.
|
|
|
32
|
Certification of the Chief Executive Officer and President and the Executive Vice President and Chief Financial Officer required by Rule 13a-14(b) under the Securities Exchange Act of 1934, as amended, and 18 U.S.C. Section 1350.
|
|
|
101
|
Interactive Data File.
|
|
|
OMNICOM GROUP INC.
|
Dated:
|
July 21, 2015
|
/s/ P
HILIP
J. A
NGELASTRO
|
|
|
Philip J. Angelastro
Executive Vice President and Chief Financial Officer (Principal Financial Officer and Authorized Signatory)
|
No information found
* THE VALUE IS THE MARKET VALUE AS OF THE LAST DAY OF THE QUARTER FOR WHICH THE 13F WAS FILED.
FUND | NUMBER OF SHARES | VALUE ($) | PUT OR CALL |
---|
DIRECTORS | AGE | BIO | OTHER DIRECTOR MEMBERSHIPS |
---|
No information found
No Customers Found
Suppliers
Supplier name | Ticker |
---|---|
Microsoft Corporation | MSFT |
The Walt Disney Company | DIS |
Comcast Corporation | CMCSA |
Fox Corporation | FOXA |
News Corporation | NWSA |
Price
Yield
Owner | Position | Direct Shares | Indirect Shares |
---|