OMNICOM GROUP INC
For the period ended Dec 31, 2023. Filed Feb 7, 2024.
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FY2023 · Filed Feb 7, 2024
OMC$88.50+2.5%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Financial Statements F-
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $4,432.0 | $4,281.8 |
| Short-term investments | — | 60.7 |
| Accounts receivable, net of allowance for doubtful accounts of $17.2 and $24.7 | 8,659.8 | 8,097.1 |
| Work in process | 1,342.5 | 1,254.6 |
| Other current assets | 949.9 | 918.8 |
| Total Current Assets | 15,384.2 | 14,613.0 |
| Property and Equipment at cost, less accumulated depreciation of $1,150.4 and $1,167.5 | 874.9 | 900.1 |
| Operating Lease Right-Of-Use Assets | 1,046.4 | 1,165.0 |
| Equity Method Investments | 66.4 | 66.2 |
| Goodwill | 10,082.3 | 9,734.3 |
| Intangible Assets, net of accumulated amortization of $863.6 and $819.9 | 366.9 | 313.4 |
| Other Assets | 223.5 | 210.5 |
| TOTAL ASSETS | $28,044.6 | $27,002.5 |
| LIABILITIES AND EQUITY | ||
| Current Liabilities: | ||
| Accounts payable | $11,634.0 | $11,000.2 |
| Customer advances | 1,356.2 | 1,492.3 |
| Current portion of debt | 750.5 | — |
| Short-term debt | 10.9 | 16.9 |
| Taxes payable | 351.6 | 300.0 |
| Other current liabilities | 2,142.8 | 2,243.4 |
| Total Current Liabilities | 16,246.0 | 15,052.8 |
| Long-Term Liabilities | 887.7 | 837.5 |
| Long-Term Liability - Operating Leases | 853.0 | 900.0 |
| Long-Term Debt | 4,889.1 | 5,577.2 |
| Deferred Tax Liabilities | 529.1 | 475.7 |
| Commitments and Contingent Liabilities (Note 20) | ||
| Temporary Equity - Redeemable Noncontrolling Interests | 414.6 | 382.9 |
| Equity: | ||
| Shareholders’ Equity: | ||
| Preferred stock, $1.00 par value, 7.5 million shares authorized, none issued | — | — |
| Common stock, $0.15 par value, 1.0 billion shares authorized, 297.2 million sharesissued, 198.0 million and 202.7 million shares outstanding | 44.6 | 44.6 |
| Additional paid-in capital | 492.0 | 571.1 |
| Retained earnings | 10,571.5 | 9,739.3 |
| Accumulated other comprehensive income (loss) | (1,337.6) | (1,437.9) |
| Treasury stock, at cost, 99.2 million and 94.5 million shares | (6,154.2) | (5,665.0) |
| Total Shareholders’ Equity | 3,616.3 | 3,252.1 |
| Noncontrolling interests | 608.8 | 524.3 |
| Total Equity | 4,225.1 | 3,776.4 |
| TOTAL LIABILITIES AND EQUITY | $28,044.6 | $27,002.5 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | $14,692.2 | $14,289.1 | $14,289.4 |
| Operating Expenses: | |||
| Salary and service costs | 10,701.2 | 10,325.9 | 10,402.0 |
| Occupancy and other costs | 1,168.8 | 1,168.6 | 1,148.2 |
| Real estate and other repositioning costs | 191.5 | — | — |
| Charges arising from the effects of the war in Ukraine | — | 113.4 | — |
| Gain on disposition of subsidiary | (78.8) | — | (50.5) |
| Cost of services | 11,982.7 | 11,607.9 | 11,499.7 |
| Selling, general and administrative expenses | 393.7 | 378.5 | 379.7 |
| Depreciation and amortization | 211.1 | 219.4 | 212.1 |
| Total Operating Expenses | 12,587.5 | 12,205.8 | 12,091.5 |
| Operating Income | 2,104.7 | 2,083.3 | 2,197.9 |
| Interest Expense | 218.5 | 208.6 | 236.4 |
| Interest Income | 106.7 | 70.7 | 27.3 |
| Income Before Income Taxes and Income From Equity Method Investments | 1,992.9 | 1,945.4 | 1,988.8 |
| Income Tax Expense | 524.9 | 546.8 | 488.7 |
| Income From Equity Method Investments | 5.2 | 5.2 | 7.5 |
| Net Income | 1,473.2 | 1,403.8 | 1,507.6 |
| Net Income Attributed To Noncontrolling Interests | 81.8 | 87.3 | 99.8 |
| Net Income - Omnicom Group Inc. | $1,391.4 | $1,316.5 | $1,407.8 |
| Net Income Per Share - Omnicom Group Inc.: | |||
| Basic | $6.98 | $6.40 | $6.57 |
| Diluted | $6.91 | $6.36 | $6.53 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Net Income | $1,473.2 | $1,403.8 | $1,507.6 |
| Other Comprehensive Income (Loss): | |||
| Cash flow hedge: | |||
| Amortization of loss included in interest expense | 5.6 | 5.6 | 5.6 |
| Income tax effect | (1.6) | (1.6) | (1.6) |
| Cash flow hedge, net of tax | 4.0 | 4.0 | 4.0 |
| Defined benefit pension plans and postemployment arrangements: | |||
| Unrecognized actuarial gains (losses) and prior service cost for the period | (6.8) | 58.4 | 28.3 |
| Amortization of prior service cost and actuarial (gains) losses | 4.8 | 10.7 | 18.1 |
| Income tax effect | 0.6 | (20.0) | (13.6) |
| Defined benefit plans and postemployment arrangements, net of tax | (1.4) | 49.1 | 32.8 |
| Foreign currency translation adjustment | 98.9 | (255.2) | (92.2) |
| Other Comprehensive Income (Loss) | 101.5 | (202.1) | (55.4) |
| Comprehensive Income | 1,574.7 | 1,201.7 | 1,452.2 |
| Comprehensive Income Attributed To Noncontrolling Interests | 83.0 | 70.8 | 82.9 |
| Comprehensive Income - Omnicom Group Inc. | $1,491.7 | $1,130.9 | $1,369.3 |
CONSOLIDATED STATEMENTS OF EQUITY
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Common Stock, shares | 297.2 | 297.2 | 297.2 |
| Common Stock, par value | $44.6 | $44.6 | $44.6 |
| Additional Paid-in Capital: | |||
| Beginning balance | 571.1 | 622.0 | 747.8 |
| Net change in noncontrolling interests | (88.1) | (17.1) | (12.1) |
| Change in temporary equity | (27.2) | (49.9) | (143.5) |
| Share-based compensation | 84.8 | 81.7 | 84.7 |
| Common stock issued, share-based compensation | (48.6) | (65.6) | (54.9) |
| Ending balance | 492.0 | 571.1 | 622.0 |
| Retained Earnings: | |||
| Beginning balance | 9,739.3 | 8,998.8 | 8,190.6 |
| Net income | 1,391.4 | 1,316.5 | 1,407.8 |
| Common stock dividends declared | (559.2) | (576.0) | (599.6) |
| Ending balance | 10,571.5 | 9,739.3 | 8,998.8 |
| Accumulated Other Comprehensive Income (Loss): | |||
| Beginning balance | (1,437.9) | (1,252.3) | (1,213.8) |
| Other comprehensive income (loss) | 100.3 | (185.6) | (38.5) |
| Ending balance | (1,337.6) | (1,437.9) | (1,252.3) |
| Treasury Stock: | |||
| Beginning balance | (5,665.0) | (5,142.9) | (4,684.8) |
| Common stock issued, share-based compensation | 86.0 | 89.3 | 69.2 |
| Common stock repurchased | (575.2) | (611.4) | (527.3) |
| Ending balance | (6,154.2) | (5,665.0) | (5,142.9) |
| Shareholders’ Equity | 3,616.3 | 3,252.1 | 3,270.2 |
| Noncontrolling Interests: | |||
| Beginning balance | 524.3 | 503.5 | 492.5 |
| Net income | 81.8 | 87.3 | 99.8 |
| Other comprehensive income (loss) | 1.2 | (16.5) | (16.9) |
| Dividends to noncontrolling interests | (70.9) | (79.5) | (113.1) |
| Net change in noncontrolling interests | (58.2) | (18.5) | (43.3) |
| Increase in noncontrolling interests from business combinations | 130.6 | 48.0 | 84.5 |
| Ending balance | 608.8 | 524.3 | 503.5 |
| Total Equity | $4,225.1 | $3,776.4 | $3,773.7 |
| Dividends Declared Per Common Share | $2.80 | $2.80 | $2.80 |
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash Flows from Operating Activities: | |||
| Net income | $1,473.2 | $1,403.8 | $1,507.6 |
| Adjustments to reconcile net income to net cash provided by operating activities: | |||
| Depreciation and amortization of right-of-use assets | 130.8 | 139.1 | 132.1 |
| Amortization of intangible assets | 80.3 | 80.3 | 80.0 |
| Amortization of net deferred loss (gain) on interest rate swaps | 5.3 | 5.4 | (8.8) |
| Share-based compensation | 84.8 | 81.7 | 84.7 |
| Real estate and other repositioning costs | 191.5 | — | — |
| Gain on disposition of subsidiary | (78.8) | — | (50.5) |
| Non-cash charges related to the effects of the war in Ukraine | — | 65.8 | — |
| Other, net | (2.3) | (5.6) | 39.8 |
| Increase (decrease) in operating capital | (462.9) | (844.0) | 160.5 |
| Net Cash Provided By Operating Activities | 1,421.9 | 926.5 | 1,945.4 |
| Cash Flows from Investing Activities: | |||
| Capital expenditures | (78.4) | (78.2) | (665.8) |
| Acquisition of businesses and interests in affiliates, net of cash acquired | (93.3) | (276.8) | (160.0) |
| Maturity (purchase) of short-term investments | 60.8 | (61.4) | — |
| Proceeds from disposition of subsidiaries and other | 190.0 | 35.5 | 116.6 |
| Net Cash Provided By (Used In) Investing Activities | 79.1 | (380.9) | (709.2) |
| Cash Flows from Financing Activities: | |||
| Proceeds from borrowings | — | — | 1,221.3 |
| Repayment of debt | — | — | (1,250.0) |
| Change in short-term debt | (8.7) | 8.9 | 6.4 |
| Dividends paid to common shareholders | (562.7) | (581.1) | (592.3) |
| Repurchases of common stock | (570.8) | (611.4) | (527.3) |
| Proceeds from stock plans | 35.6 | 17.4 | 9.1 |
| Acquisition of additional noncontrolling interests | (87.6) | (20.8) | (21.9) |
| Dividends paid to noncontrolling interest shareholders | (70.9) | (79.5) | (113.1) |
| Payment of contingent purchase price obligations | (67.7) | (32.6) | (22.6) |
| Other, net | (55.0) | (62.9) | (100.6) |
| Net Cash Used In Financing Activities | (1,387.8) | (1,362.0) | (1,391.0) |
| Effect of foreign exchange rate changes on cash and cash equivalents | 37.0 | (218.6) | (128.9) |
| Net Increase (Decrease) in Cash and Cash Equivalents | 150.2 | (1,035.0) | (283.7) |
| Cash and Cash Equivalents at the Beginning of Year | 4,281.8 | 5,316.8 | 5,600.5 |
| Cash and Cash Equivalents at the End of Year | $4,432.0 | $4,281.8 | $5,316.8 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.