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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Omnicom Group Inc | NYSE:OMC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
-0.82 | -0.85% | 95.89 | 96.70 | 95.64 | 96.70 | 1,723,247 | 01:00:00 |
New York
|
|
13-1514814
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer Identification No.)
|
|
|
|
437 Madison Avenue, New York, NY
|
|
10022
|
(Address of principal executive offices)
|
|
(Zip Code)
|
Title of each class
|
|
Name of each exchange on which registered
|
Common Stock, $.15 Par Value
|
|
New York Stock Exchange
|
Large accelerated filer
þ
|
Accelerated filer
o
|
Non-accelerated filer
o
|
Smaller reporting company
o
|
|
Emerging growth company
o
|
|
|
Page
|
|
PART I
|
|
Item 1
.
|
||
Item 4.
|
||
|
PART II
|
|
|
PART III
|
|
Item 10.
|
Directors, Executive Officers and Corporate Governance
|
|
Item 11.
|
Executive Compensation
|
|
Item 12.
|
Security Ownership of Certain Beneficial Owners and Management and
Related Stockholder Matters
|
|
Item 13.
|
Certain Relationships and Related Transactions, and Director Independence
|
|
Item 14.
|
Principal Accounting Fees and Services
|
|
|
PART IV
|
|
Item 16.
|
Form 10-K Summary
|
|
|
||
|
|
|
Selected Quarterly Financial Data
|
||
Schedule II - Valuation and Qualifying Accounts
|
advertising
|
|
investor relations
|
branding
|
|
marketing research
|
content marketing
|
|
media planning and buying
|
corporate social responsibility consulting
|
|
merchandising and point of sale
|
crisis communications
|
|
mobile marketing
|
custom publishing
|
|
multi-cultural marketing
|
data analytics
|
|
non-profit marketing
|
database management
|
|
organizational communications
|
digital / direct marketing
|
|
package design
|
digital transformation
|
|
product placement
|
entertainment marketing
|
|
promotional marketing
|
experiential marketing
|
|
public affairs
|
field marketing
|
|
public relations
|
financial/corporate business-to-business advertising
|
|
retail marketing
|
graphic arts/digital imaging
|
|
sales support
|
healthcare marketing and communications
|
|
search engine marketing
|
instore design
|
|
shopper marketing
|
interactive marketing
|
|
social media marketing
|
|
|
sports and event marketing
|
Name
|
Position
|
Age
|
Bruce Crawford
|
Chairman of the Board
|
88
|
John D. Wren
|
President and Chief Executive Officer
|
65
|
Philip J. Angelastro
|
Executive Vice President and Chief Financial Officer
|
53
|
Peter K. Sherman
|
Executive Vice President
|
54
|
Michael J. O’Brien
|
Senior Vice President, General Counsel and Secretary
|
56
|
Dennis E. Hewitt
|
Treasurer
|
73
|
Andrew L. Castellaneta
|
Senior Vice President, Chief Accounting Officer
|
59
|
Peter L. Swiecicki
|
Senior Vice President, Finance and Controller
|
59
|
Jonathan B. Nelson
|
CEO, Omnicom Digital
|
50
|
|
Net Rent
|
||
2018
|
$
|
295.6
|
|
2019
|
236.8
|
|
|
2020
|
191.5
|
|
|
2021
|
165.6
|
|
|
2022
|
142.4
|
|
|
Thereafter
|
624.0
|
|
|
|
$
|
1,655.9
|
|
|
|
High
|
|
Low
|
|
Dividends Paid
Per Share
|
||||||
2017
|
|
|
|
|
|
|
||||||
First Quarter
|
|
$
|
87.43
|
|
|
$
|
83.67
|
|
|
$
|
0.55
|
|
Second Quarter
|
|
86.71
|
|
|
79.86
|
|
|
0.55
|
|
|||
Third Quarter
|
|
83.64
|
|
|
71.63
|
|
|
0.55
|
|
|||
Fourth Quarter
|
|
78.70
|
|
|
65.32
|
|
|
0.60
|
|
|||
2016
|
|
|
|
|
|
|
|
|
|
|||
First Quarter
|
|
$
|
84.23
|
|
|
$
|
66.48
|
|
|
$
|
0.50
|
|
Second Quarter
|
|
85.95
|
|
|
75.61
|
|
|
0.55
|
|
|||
Third Quarter
|
|
87.50
|
|
|
79.94
|
|
|
0.55
|
|
|||
Fourth Quarter
|
|
89.66
|
|
|
78.67
|
|
|
0.55
|
|
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
|
|||
October 1 - 31, 2017
|
|
49,710
|
|
|
$
|
75.14
|
|
|
—
|
|
—
|
November 1 - 30, 2017
|
|
103
|
|
|
67.15
|
|
|
—
|
|
—
|
|
December 1 - 31, 2017
|
|
574,365
|
|
|
73.72
|
|
|
—
|
|
—
|
|
|
|
624,178
|
|
|
$
|
73.83
|
|
|
—
|
|
—
|
|
June 30,
|
||
|
2017
|
|
2016
|
Long-Term Growth Rate
|
4%
|
|
4%
|
WACC
|
9.6% - 10.3%
|
|
9.7% - 10.3%
|
|
2017
|
|
2016
|
||||
Revenue
|
$
|
15,273.6
|
|
|
$
|
15,416.9
|
|
Operating Expenses:
|
|
|
|
||||
Salary and service costs
|
11,249.7
|
|
|
11,440.6
|
|
||
Occupancy and other costs
|
1,232.1
|
|
|
1,230.6
|
|
||
Cost of services
|
12,481.8
|
|
|
12,671.2
|
|
||
Selling, general and administrative expenses
|
450.0
|
|
|
443.9
|
|
||
Depreciation and amortization
|
282.1
|
|
|
292.9
|
|
||
|
13,213.9
|
|
|
13,408.0
|
|
||
Operating Profit
|
2,059.7
|
|
|
2,008.9
|
|
||
Operating Margin - %
|
13.5
|
%
|
|
13.0
|
%
|
||
Interest Expense
|
224.5
|
|
|
209.7
|
|
||
Interest Income
|
49.7
|
|
|
42.6
|
|
||
Income Before Income Taxes and Income From Equity Method Investments
|
1,884.9
|
|
|
1,841.8
|
|
||
Income Tax Expense
|
696.2
|
|
|
600.5
|
|
||
Income From Equity Method Investments
|
3.5
|
|
|
5.4
|
|
||
Net Income
|
1,192.2
|
|
|
1,246.7
|
|
||
Net Income Attributed To Noncontrolling Interests
|
103.8
|
|
|
98.1
|
|
||
Net Income - Omnicom Group Inc.
|
$
|
1,088.4
|
|
|
$
|
1,148.6
|
|
|
2017
|
|
2016
|
||||
Net Income - Omnicom Group Inc.
|
$
|
1,088.4
|
|
|
$
|
1,148.6
|
|
Net Income Attributed To Noncontrolling Interests
|
103.8
|
|
|
98.1
|
|
||
Net Income
|
1,192.2
|
|
|
1,246.7
|
|
||
Income From Equity Method Investments
|
3.5
|
|
|
5.4
|
|
||
Income Tax Expense
|
696.2
|
|
|
600.5
|
|
||
Income Before Income Taxes and Income From Equity Method Investments
|
1,884.9
|
|
|
1,841.8
|
|
||
Interest Expense
|
224.5
|
|
|
209.7
|
|
||
Interest Income
|
49.7
|
|
|
42.6
|
|
||
Operating Profit
|
2,059.7
|
|
|
2,008.9
|
|
||
Add back: Amortization of intangible assets
|
113.8
|
|
|
115.2
|
|
||
Earnings before interest, taxes and amortization of intangible assets (“EBITA”)
|
$
|
2,173.5
|
|
|
$
|
2,124.1
|
|
|
|
|
|
||||
Revenue
|
$
|
15,273.6
|
|
|
$
|
15,416.9
|
|
EBITA
|
$
|
2,173.5
|
|
|
$
|
2,124.1
|
|
EBITA Margin - %
|
14.2
|
%
|
|
13.8
|
%
|
•
|
The foreign exchange impact is calculated by translating the current period’s local currency revenue using the prior period average exchange rates to derive current period constant currency revenue (in this case
$15,230.7 million
for the Total column). The foreign exchange impact is the difference between the current period revenue in U.S. Dollars and the current period constant currency revenue (
$15,273.6 million
less
$15,230.7 million
for the Total column).
|
•
|
Acquisition revenue is calculated as if the acquisition occurred twelve months prior to the acquisition date by aggregating the comparable prior period revenue of acquisitions through the acquisition date. As a result, acquisition revenue excludes the positive or negative difference between our current period revenue subsequent to the acquisition date and the comparable prior period revenue and the positive or negative growth after the acquisition is attributed to organic growth. Disposition revenue is calculated as if the disposition occurred twelve months prior to the disposition date by aggregating the comparable prior period revenue of dispositions through the disposition date. The acquisition revenue and disposition revenue amounts are netted in the table.
|
•
|
Organic growth is calculated by subtracting the foreign exchange rate impact, and the acquisition revenue, net of disposition revenue 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 (
$15,416.9 million
for the Total column).
|
|
2017
|
|
2016
|
|
$ Change
|
|
% Change
|
|
% Organic Growth
|
||||||||
Americas:
|
|
|
|
|
|
|
|
|
|
||||||||
North America
|
$
|
8,686.0
|
|
|
$
|
9,174.0
|
|
|
$
|
(488.0
|
)
|
|
(5.3
|
)%
|
|
0.6
|
%
|
Latin America
|
494.8
|
|
|
423.6
|
|
|
71.2
|
|
|
16.8
|
%
|
|
0.6
|
%
|
|||
EMEA:
|
|
|
|
|
|
|
|
|
|
||||||||
Europe
|
4,127.9
|
|
|
3,904.2
|
|
|
223.7
|
|
|
5.7
|
%
|
|
7.0
|
%
|
|||
Middle East and Africa
|
314.6
|
|
|
278.9
|
|
|
35.7
|
|
|
12.8
|
%
|
|
12.5
|
%
|
|||
Asia Pacific
|
1,650.3
|
|
|
1,636.2
|
|
|
14.1
|
|
|
0.9
|
%
|
|
5.8
|
%
|
|||
|
$
|
15,273.6
|
|
|
$
|
15,416.9
|
|
|
$
|
(143.3
|
)
|
|
(0.9
|
)%
|
|
3.0
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||
|
2017
|
|
2016
|
|
2017 vs. 2016
|
||||||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$
Change
|
|
%
Change
|
|
% Organic Growth
|
||||||||||
Advertising
|
$
|
8,142.5
|
|
|
53.3
|
%
|
|
$
|
8,194.5
|
|
|
53.2
|
%
|
|
$
|
(52.0
|
)
|
|
(0.6
|
)%
|
|
3.9
|
%
|
CRM Consumer Experience
|
2,664.3
|
|
|
17.5
|
%
|
|
2,751.1
|
|
|
17.8
|
%
|
|
(86.8
|
)
|
|
(3.2
|
)%
|
|
0.8
|
%
|
|||
CRM Execution & Support
|
2,155.6
|
|
|
14.1
|
%
|
|
2,191.4
|
|
|
14.2
|
%
|
|
(35.8
|
)
|
|
(1.6
|
)%
|
|
4.0
|
%
|
|||
Public Relations
|
1,376.6
|
|
|
9.0
|
%
|
|
1,374.8
|
|
|
8.9
|
%
|
|
1.8
|
|
|
0.1
|
%
|
|
0.3
|
%
|
|||
Healthcare
|
934.6
|
|
|
6.1
|
%
|
|
905.1
|
|
|
5.9
|
%
|
|
29.5
|
|
|
3.3
|
%
|
|
2.8
|
%
|
|||
|
$
|
15,273.6
|
|
|
|
|
$
|
15,416.9
|
|
|
|
|
$
|
(143.3
|
)
|
|
(0.9
|
)%
|
|
3.0
|
%
|
|
2017
|
|
2016
|
||
Food and Beverage
|
13
|
%
|
|
13
|
%
|
Consumer Products
|
10
|
%
|
|
10
|
%
|
Pharmaceuticals and Health Care
|
12
|
%
|
|
12
|
%
|
Financial Services
|
7
|
%
|
|
7
|
%
|
Technology
|
9
|
%
|
|
9
|
%
|
Auto
|
10
|
%
|
|
8
|
%
|
Travel and Entertainment
|
6
|
%
|
|
7
|
%
|
Telecommunications
|
5
|
%
|
|
5
|
%
|
Retail
|
6
|
%
|
|
6
|
%
|
Other
|
22
|
%
|
|
23
|
%
|
|
Year Ended December 31,
|
|||||||||||||||||||
|
2017
|
|
2016
|
|
2017 vs. 2016
|
|||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$
Change
|
|
%
Change
|
|||||||||
Revenue
|
$
|
15,273.6
|
|
|
|
|
$
|
15,416.9
|
|
|
|
|
$
|
(143.3
|
)
|
|
(0.9
|
)%
|
||
Operating Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Salary and service costs
|
11,249.7
|
|
|
73.7
|
%
|
|
11,440.6
|
|
|
74.2
|
%
|
|
(190.9
|
)
|
|
(1.7
|
)%
|
|||
Occupancy and other costs
|
1,232.1
|
|
|
8.1
|
%
|
|
1,230.6
|
|
|
8.0
|
%
|
|
1.5
|
|
|
0.1
|
%
|
|||
Cost of services
|
12,481.8
|
|
|
|
|
12,671.2
|
|
|
|
|
(189.4
|
)
|
|
|
||||||
Selling, general and administrative expenses
|
450.0
|
|
|
2.9
|
%
|
|
443.9
|
|
|
2.9
|
%
|
|
6.1
|
|
|
1.4
|
%
|
|||
Depreciation and amortization
|
282.1
|
|
|
1.8
|
%
|
|
292.9
|
|
|
1.9
|
%
|
|
(10.8
|
)
|
|
(3.7
|
)%
|
|||
|
13,213.9
|
|
|
86.5
|
%
|
|
13,408.0
|
|
|
87.0
|
%
|
|
(194.1
|
)
|
|
(1.4
|
)%
|
|||
Operating Profit
|
$
|
2,059.7
|
|
|
13.5
|
%
|
|
$
|
2,008.9
|
|
|
13.0
|
%
|
|
$
|
50.8
|
|
|
2.5
|
%
|
|
2017 As Reported
|
|
Effect of Tax Act
|
|
2017 Excluding Effect of Tax Act
|
||||||
Income before income taxes and income from equity
method investments
|
$
|
1,884.9
|
|
|
$
|
—
|
|
|
$
|
1,884.9
|
|
Income tax expense
|
$
|
696.2
|
|
|
$
|
106.3
|
|
|
$
|
589.9
|
|
Effective tax rate
|
36.9
|
%
|
|
|
|
31.3
|
%
|
||||
Net income - Omnicom Group Inc.
|
$
|
1,088.4
|
|
|
(106.3
|
)
|
|
$
|
1,194.7
|
|
|
Diluted net income per share - Omnicom Group Inc.
|
$
|
4.65
|
|
|
$
|
(0.45
|
)
|
|
$
|
5.10
|
|
|
2016
|
|
2015
|
||||
Revenue
|
$
|
15,416.9
|
|
|
$
|
15,134.4
|
|
Operating Expenses:
|
|
|
|
||||
Salary and service costs
|
11,440.6
|
|
|
11,248.7
|
|
||
Occupancy and other costs
|
1,230.6
|
|
|
1,242.7
|
|
||
Cost of services
|
12,671.2
|
|
|
12,491.4
|
|
||
Selling, general and administrative expenses
|
443.9
|
|
|
431.8
|
|
||
Depreciation and amortization
|
292.9
|
|
|
291.1
|
|
||
|
13,408.0
|
|
|
13,214.3
|
|
||
Operating Profit
|
2,008.9
|
|
|
1,920.1
|
|
||
Operating Margin - %
|
13.0
|
%
|
|
12.7
|
%
|
||
Interest Expense
|
209.7
|
|
|
181.1
|
|
||
Interest Income
|
42.6
|
|
|
39.6
|
|
||
Income Before Income Taxes and Income From Equity Method Investments
|
1,841.8
|
|
|
1,778.6
|
|
||
Income Tax Expense
|
600.5
|
|
|
583.6
|
|
||
Income From Equity Method Investments
|
5.4
|
|
|
8.4
|
|
||
Net Income
|
1,246.7
|
|
|
1,203.4
|
|
||
Net Income Attributed To Noncontrolling Interests
|
98.1
|
|
|
109.5
|
|
||
Net Income - Omnicom Group Inc.
|
$
|
1,148.6
|
|
|
$
|
1,093.9
|
|
|
2016
|
|
2015
|
||||
Net Income - Omnicom Group Inc.
|
$
|
1,148.6
|
|
|
$
|
1,093.9
|
|
Net Income Attributed To Noncontrolling Interests
|
98.1
|
|
|
109.5
|
|
||
Net Income
|
1,246.7
|
|
|
1,203.4
|
|
||
Income From Equity Method Investments
|
5.4
|
|
|
8.4
|
|
||
Income Tax Expense
|
600.5
|
|
|
583.6
|
|
||
Income Before Income Taxes and Income From Equity Method Investments
|
1,841.8
|
|
|
1,778.6
|
|
||
Interest Expense
|
209.7
|
|
|
181.1
|
|
||
Interest Income
|
42.6
|
|
|
39.6
|
|
||
Operating Profit
|
2,008.9
|
|
|
1,920.1
|
|
||
Add back: Amortization of intangible assets
|
115.2
|
|
|
109.3
|
|
||
Earnings before interest, taxes and amortization of intangible assets (“EBITA”)
|
$
|
2,124.1
|
|
|
$
|
2,029.4
|
|
|
|
|
|
||||
Revenue
|
$
|
15,416.9
|
|
|
$
|
15,134.4
|
|
EBITA
|
$
|
2,124.1
|
|
|
$
|
2,029.4
|
|
EBITA Margin - %
|
13.8
|
%
|
|
13.4
|
%
|
•
|
The foreign exchange impact is calculated by translating the current period’s local currency revenue using the prior period average exchange rates to derive current period constant currency revenue (in this case
$15,700.7 million
for the Total column). The foreign exchange impact is the difference between the current period revenue in U.S. Dollars and the current period constant currency revenue (
$15,416.9 million
less
$15,700.7 million
for the Total column).
|
•
|
Acquisition revenue is calculated as if the acquisition occurred twelve months prior to the acquisition date by aggregating the comparable prior period revenue of acquisitions through the acquisition date. As a result, acquisition revenue excludes the positive or negative difference between our current period revenue subsequent to the acquisition date and the comparable prior period revenue and the positive or negative growth after the acquisition is attributed to organic growth. Disposition revenue is calculated as if the disposition occurred twelve months prior to the disposition date by aggregating the comparable prior period revenue of dispositions through the disposition date. The acquisition revenue and disposition revenue amounts are netted in the table.
|
•
|
Organic growth is calculated by subtracting the foreign exchange rate impact, and the acquisition revenue, net of disposition revenue 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 (
$15,134.4 million
for the Total column).
|
|
2016
|
|
2015
|
|
$ Change
|
|
% Change
|
|
% Organic Growth
|
||||||||
Americas:
|
|
|
|
|
|
|
|
|
|
||||||||
North America
|
$
|
9,174.0
|
|
|
$
|
9,029.2
|
|
|
$
|
144.8
|
|
|
1.6
|
%
|
|
2.4
|
%
|
Latin America
|
423.6
|
|
|
329.8
|
|
|
93.8
|
|
|
28.4
|
%
|
|
(0.8
|
)%
|
|||
EMEA:
|
|
|
|
|
|
|
|
|
|
||||||||
Europe
|
3,904.2
|
|
|
3,942.9
|
|
|
(38.7
|
)
|
|
(1.0
|
)%
|
|
4.3
|
%
|
|||
Middle East and Africa
|
278.9
|
|
|
260.6
|
|
|
18.3
|
|
|
7.0
|
%
|
|
11.7
|
%
|
|||
Asia Pacific
|
1,636.2
|
|
|
1,571.9
|
|
|
64.3
|
|
|
4.1
|
%
|
|
6.9
|
%
|
|||
|
$
|
15,416.9
|
|
|
$
|
15,134.4
|
|
|
$
|
282.5
|
|
|
1.9
|
%
|
|
3.5
|
%
|
|
Year Ended December 31,
|
||||||||||||||||||||||
|
2016
|
|
2015
|
|
2016 vs. 2015
|
||||||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$
Change
|
|
%
Change
|
|
% Organic Growth
|
||||||||||
Advertising
|
$
|
8,194.7
|
|
|
53.2
|
%
|
|
$
|
7,824.5
|
|
|
51.7
|
%
|
|
$
|
370.2
|
|
|
4.7
|
%
|
|
5.9
|
%
|
CRM Consumer Experience
|
2,750.9
|
|
|
17.8
|
%
|
|
2,772.5
|
|
|
18.3
|
%
|
|
(21.6
|
)
|
|
(0.8
|
)%
|
|
1.8
|
%
|
|||
CRM Execution & Support
|
2,191.4
|
|
|
14.2
|
%
|
|
2,359.7
|
|
|
15.6
|
%
|
|
(168.3
|
)
|
|
(7.1
|
)%
|
|
(3.4
|
)%
|
|||
Public Relations
|
1,374.8
|
|
|
8.9
|
%
|
|
1,329.1
|
|
|
8.8
|
%
|
|
45.7
|
|
|
3.4
|
%
|
|
2.8
|
%
|
|||
Healthcare
|
905.1
|
|
|
5.9
|
%
|
|
848.6
|
|
|
5.6
|
%
|
|
56.5
|
|
|
6.7
|
%
|
|
7.6
|
%
|
|||
|
$
|
15,416.9
|
|
|
|
|
$
|
15,134.4
|
|
|
|
|
$
|
282.5
|
|
|
1.9
|
%
|
|
3.5
|
%
|
|
|
2016
|
|
2015
|
||
Food and Beverage
|
|
13
|
%
|
|
13
|
%
|
Consumer Products
|
|
10
|
%
|
|
10
|
%
|
Pharmaceuticals and Health Care
|
|
12
|
%
|
|
11
|
%
|
Financial Services
|
|
7
|
%
|
|
7
|
%
|
Technology
|
|
9
|
%
|
|
10
|
%
|
Auto
|
|
8
|
%
|
|
8
|
%
|
Travel and Entertainment
|
|
7
|
%
|
|
6
|
%
|
Telecommunications
|
|
5
|
%
|
|
5
|
%
|
Retail
|
|
6
|
%
|
|
6
|
%
|
Other
|
|
23
|
%
|
|
24
|
%
|
|
Year Ended December 31,
|
|||||||||||||||||||
|
2016
|
|
2015
|
|
2016 vs. 2015
|
|||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$
Change
|
|
%
Change
|
|||||||||
Revenue
|
$
|
15,416.9
|
|
|
|
|
$
|
15,134.4
|
|
|
|
|
$
|
282.5
|
|
|
1.9
|
%
|
||
Operating Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Salary and service costs
|
11,440.6
|
|
|
74.2
|
%
|
|
11,248.7
|
|
|
74.3
|
%
|
|
191.9
|
|
|
1.7
|
%
|
|||
Occupancy and other costs
|
1,230.6
|
|
|
8.0
|
%
|
|
1,242.7
|
|
|
8.2
|
%
|
|
(12.1
|
)
|
|
(1.0
|
)%
|
|||
Cost of services
|
12,671.2
|
|
|
|
|
12,491.4
|
|
|
|
|
|
|
|
|||||||
Selling, general and administrative expenses
|
443.9
|
|
|
2.9
|
%
|
|
431.8
|
|
|
2.9
|
%
|
|
12.1
|
|
|
2.8
|
%
|
|||
Depreciation and amortization
|
292.9
|
|
|
1.9
|
%
|
|
291.1
|
|
|
1.9
|
%
|
|
1.8
|
|
|
0.6
|
%
|
|||
|
13,408.0
|
|
|
87.0
|
%
|
|
13,214.3
|
|
|
87.3
|
%
|
|
193.7
|
|
|
1.5
|
%
|
|||
Operating Profit
|
$
|
2,008.9
|
|
|
13.0
|
%
|
|
$
|
1,920.1
|
|
|
12.7
|
%
|
|
$
|
88.8
|
|
|
4.6
|
%
|
Sources
|
|||||||
Cash flow from operations
|
|
|
$
|
2,023.9
|
|
||
Less: Increase in operating capital
|
|
|
(348.5
|
)
|
|||
Principal cash sources
|
|
|
1,675.4
|
|
|||
Uses
|
|||||||
Capital expenditures
|
$
|
(156.0
|
)
|
|
|
||
Dividends paid to common shareholders
|
(515.2
|
)
|
|
|
|||
Dividends paid to noncontrolling interest shareholders
|
(101.7
|
)
|
|
|
|||
Acquisition payments, including payment of contingent purchase price obligations and acquisition of additional noncontrolling interests, net of cash acquired
|
(84.8
|
)
|
|
|
|||
Repurchases of common stock, net of proceeds from stock plans
|
(557.7
|
)
|
|
|
|||
Principal cash uses
|
|
|
(1,415.4
|
)
|
|||
Principal cash sources in excess of principal cash uses
|
|
|
260.0
|
|
|||
Foreign exchange rate changes
|
|
|
227.9
|
|
|||
Financing activities and other
|
|
|
(42.6
|
)
|
|||
Increase in operating capital
|
|
|
348.5
|
|
|||
Increase in cash and cash equivalents
|
|
|
$
|
793.8
|
|
|
2017
|
|
2016
|
||||
Short-term debt
|
$
|
11.8
|
|
|
$
|
28.7
|
|
Long-term debt, including current portion
|
4,912.9
|
|
|
4,920.6
|
|
||
Total debt
|
4,924.7
|
|
|
4,949.3
|
|
||
Cash and cash equivalents and short-term investments
|
3,796.4
|
|
|
3,022.8
|
|
||
Net debt
|
$
|
1,128.3
|
|
|
$
|
1,926.5
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Average amount outstanding during the year
|
$
|
902.3
|
|
|
$
|
861.3
|
|
|
$
|
964.8
|
|
Maximum amount outstanding during the year
|
$
|
1,769.8
|
|
|
$
|
1,608.9
|
|
|
$
|
1,720.7
|
|
Average days outstanding
|
13.0
|
|
|
11.2
|
|
|
13.2
|
|
|||
Weighted average interest rate
|
1.29
|
%
|
|
0.70
|
%
|
|
0.46
|
%
|
|
|
|
Obligation Due
|
||||||||||||||||
|
Total
Obligation
|
|
2018
|
|
2019 - 2020
|
|
2021 - 2022
|
|
After 2022
|
||||||||||
Long-term debt:
|
|
|
|
|
|
|
|
|
|
||||||||||
Principal
|
$
|
4,900.0
|
|
|
$
|
—
|
|
|
$
|
1,500.0
|
|
|
$
|
1,250.0
|
|
|
$
|
2,150.0
|
|
Interest
|
966.2
|
|
|
198.8
|
|
|
335.4
|
|
|
216.0
|
|
|
216.0
|
|
|||||
Lease obligations
|
1,805.1
|
|
|
347.3
|
|
|
498.1
|
|
|
332.6
|
|
|
627.1
|
|
|||||
Contingent purchase price obligations
|
215.6
|
|
|
92.6
|
|
|
47.2
|
|
|
75.8
|
|
|
—
|
|
|||||
Transition tax liability on accumulated foreign earnings
|
102.9
|
|
|
8.2
|
|
|
16.5
|
|
|
16.5
|
|
|
61.7
|
|
|||||
Deferred tax liability - convertible debt
|
41.4
|
|
|
41.4
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||||
Defined benefit pension plans benefit obligation
|
277.0
|
|
|
9.7
|
|
|
23.1
|
|
|
32.9
|
|
|
211.3
|
|
|||||
Postemployment arrangements benefit obligation
|
127.7
|
|
|
9.3
|
|
|
14.0
|
|
|
12.6
|
|
|
91.8
|
|
|||||
Uncertain tax positions
|
173.7
|
|
|
24.3
|
|
|
44.7
|
|
|
65.7
|
|
|
39.0
|
|
|||||
|
$
|
8,609.6
|
|
|
$
|
731.6
|
|
|
$
|
2,479.0
|
|
|
$
|
2,002.1
|
|
|
$
|
3,396.9
|
|
|
|
|
Commitment Expires
|
||||||||||||||||
|
Total
Commitment |
|
2018
|
|
2019 - 2020
|
|
2021 - 2022
|
|
After 2022
|
||||||||||
Standby letters of credit
|
$
|
5.3
|
|
|
$
|
2.2
|
|
|
$
|
—
|
|
|
$
|
2.0
|
|
|
$
|
1.1
|
|
Guarantees
|
130.3
|
|
|
62.7
|
|
|
60.5
|
|
|
2.9
|
|
|
4.2
|
|
|||||
|
$
|
135.6
|
|
|
$
|
64.9
|
|
|
$
|
60.5
|
|
|
$
|
4.9
|
|
|
$
|
5.3
|
|
(a)(1)
|
Financial Statements:
|
Page
|
|
|
|
|
||
|
||
|
Consolidated Balance Sheets at December 31, 2017 and 2016
|
|
|
Consolidated Statements of Income for the Three Years Ended December 31, 2017
|
|
|
Consolidated Statements of Comprehensive Income for the Three Years Ended December 31, 2017
|
|
|
Consolidated Statements of Equity for the Three Years Ended December 31, 2017
|
|
|
Consolidated Statements of Cash Flows for the Three Years Ended December 31, 2017
|
|
|
||
|
Selected Quarterly Financial Data (Unaudited)
|
|
|
|
|
(a)(2)
|
Financial Statement Schedules:
|
|
|
Schedule II - Valuation and Qualifying Accounts for the Three Years Ended December 31, 2017
|
|
|
|
|
|
All other schedules are omitted because they are not applicable.
|
|
(a)(3)
|
Exhibits:
|
Exhibit
Number
|
Description
|
3(i)
|
|
|
|
3(ii)
|
|
|
|
4.1
|
|
|
|
4.2
|
|
|
|
4.3
|
|
|
|
4.4
|
|
|
|
4.5
|
|
|
|
4.6
|
|
|
|
4.7
|
|
|
|
4.8
|
|
|
|
4.9
|
|
|
|
4.10
|
|
|
|
4.11
|
|
|
|
4.12
|
|
|
|
4.13
|
|
|
|
4.14
|
10.1
|
|
|
|
10.2
|
|
|
|
10.3
|
|
|
|
10.4
|
Standard form of the Director Indemnification Agreement (Exhibit 10.25 to our Annual Report on Form 10-K (File No. 1-10551) for the year ended December 31, 1989 and incorporated herein by reference).
|
|
|
10.5
|
|
|
|
10.6
|
|
|
|
10.7
|
|
|
|
10.8
|
|
|
|
10.9
|
|
|
|
10.10
|
|
|
|
10.11
|
|
|
|
10.12
|
|
|
|
10.13
|
|
|
|
10.14
|
|
|
|
10.15
|
|
|
|
10.16
|
|
|
|
10.17
|
|
|
|
10.18
|
|
|
|
10.19
|
12
|
|
|
|
21
|
|
|
|
23
|
|
|
|
31.1
|
|
|
|
31.2
|
|
|
|
32
|
|
|
|
101
|
Interactive Data Files.
|
|
|
O
MNICOM
G
ROUP
I
NC.
|
February 15, 2018
|
BY:
|
/s/ P
HILIP
J. A
NGELASTRO
|
|
|
Philip J. Angelastro
Executive Vice President and Chief Financial Officer
|
Signature
|
Title
|
Date
|
|
|
|
/s/ B
RUCE
C
RAWFORD
|
Chairman and Director
|
February 15, 2018
|
Bruce Crawford
|
|
|
|
|
|
/s/ J
OHN
D. W
REN
|
Chief Executive Officer and President and Director (Principal Executive Officer)
|
February 15, 2018
|
John D. Wren
|
|
|
|
|
|
/s/ P
HILIP
J. A
NGELASTRO
|
Executive Vice President and Chief Financial Officer (Principal Financial Officer)
|
February 15, 2018
|
Philip J. Angelastro
|
|
|
|
|
|
/s/ A
NDREW
L
.
C
ASTELLANETA
|
Senior Vice President, Chief Accounting Officer (Principal Accounting Officer)
|
February 15, 2018
|
Andrew L. Castellaneta
|
|
|
|
|
|
/s/ A
LAN
R. B
ATKIN
|
Director
|
February 15, 2018
|
Alan R. Batkin
|
|
|
|
|
|
/
s
/ M
ARY
C. C
HOKSI
|
Director
|
February 15, 2018
|
Mary C. Choksi
|
|
|
|
|
|
/s/ R
OBERT
C
HARLES
C
LARK
|
Director
|
February 15, 2018
|
Robert Charles Clark
|
|
|
|
|
|
/s/ L
EONARD
S. C
OLEMAN, JR.
|
Director
|
February 15, 2018
|
Leonard S. Coleman, Jr.
|
|
|
|
|
|
/s/ S
USAN
S. D
ENISON
|
Director
|
February 15, 2018
|
Susan S. Denison
|
|
|
|
|
|
/s/ D
EBORAH
J. K
ISSIRE
|
Director
|
February 15, 2018
|
Deborah J. Kissire
|
|
|
|
|
|
/s/ G
RACIA
C. M
ARTORE
|
Director
|
February 15, 2018
|
Gracia C. Martore
|
|
|
|
|
|
/s/ J
OHN
R. M
URPHY
|
Director
|
February 15, 2018
|
John R. Murphy
|
|
|
|
|
|
/s/ J
OHN
R. P
URCELL
|
Director
|
February 15, 2018
|
John R. Purcell
|
|
|
|
|
|
/s/ L
INDA
J
OHNSON
R
ICE
|
Director
|
February 15, 2018
|
Linda Johnson Rice
|
|
|
|
|
|
/s/
V
ALERIE
M
.
W
ILLIAMS
|
Director
|
February 15, 2018
|
Valerie M. Williams
|
|
|
|
December 31,
|
||||||
|
2017
|
|
2016
|
||||
ASSETS
|
|
|
|
||||
Current Assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
3,796.0
|
|
|
$
|
3,002.2
|
|
Short-term investments, at cost
|
0.4
|
|
|
20.6
|
|
||
Accounts receivable, net of allowance for doubtful accounts of $32.1 and $24.9
|
8,083.8
|
|
|
7,510.8
|
|
||
Work in process
|
1,110.6
|
|
|
1,125.4
|
|
||
Other current assets
|
1,125.2
|
|
|
1,063.0
|
|
||
Total Current Assets
|
14,116.0
|
|
|
12,722.0
|
|
||
Property and Equipment at cost, less accumulated depreciation of $1,279.2 and $1,233.4
|
690.9
|
|
|
674.8
|
|
||
Equity Method Investments
|
120.3
|
|
|
120.4
|
|
||
Goodwill
|
9,337.5
|
|
|
8,976.1
|
|
||
Intangible Assets, net of accumulated amortization of $879.9 and $777.6
|
368.4
|
|
|
427.4
|
|
||
Other Assets
|
298.1
|
|
|
244.7
|
|
||
TOTAL ASSETS
|
$
|
24,931.2
|
|
|
$
|
23,165.4
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
11,574.6
|
|
|
$
|
10,476.7
|
|
Customer advances
|
1,266.7
|
|
|
1,186.6
|
|
||
Current portion of debt
|
—
|
|
|
0.1
|
|
||
Short-term debt
|
11.8
|
|
|
28.7
|
|
||
Taxes payable
|
330.0
|
|
|
349.6
|
|
||
Other current liabilities
|
1,925.8
|
|
|
1,969.2
|
|
||
Total Current Liabilities
|
15,108.9
|
|
|
14,010.9
|
|
||
Long-Term Debt
|
4,912.9
|
|
|
4,920.5
|
|
||
Long-Term Liabilities
|
1,091.2
|
|
|
892.3
|
|
||
Deferred Tax Liabilities
|
483.6
|
|
|
480.5
|
|
||
Commitments and Contingent Liabilities (Note 16)
|
|
|
|
|
|||
Temporary Equity - Redeemable Noncontrolling Interests
|
182.4
|
|
|
201.6
|
|
||
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 shares issued, 230.1 million and 234.7 million shares outstanding
|
44.6
|
|
|
44.6
|
|
||
Additional paid-in capital
|
828.3
|
|
|
798.3
|
|
||
Retained earnings
|
6,210.6
|
|
|
5,677.2
|
|
||
Accumulated other comprehensive income (loss)
|
(963.0
|
)
|
|
(1,356.0
|
)
|
||
Treasury stock, at cost, 67.1 million and 62.5 million shares
|
(3,505.4
|
)
|
|
(3,002.1
|
)
|
||
Total Shareholders’ Equity
|
2,615.1
|
|
|
2,162.0
|
|
||
Noncontrolling interests
|
537.1
|
|
|
497.6
|
|
||
Total Equity
|
3,152.2
|
|
|
2,659.6
|
|
||
TOTAL LIABILITIES AND EQUITY
|
$
|
24,931.2
|
|
|
$
|
23,165.4
|
|
|
Years Ended December 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Revenue
|
$
|
15,273.6
|
|
|
$
|
15,416.9
|
|
|
$
|
15,134.4
|
|
Operating Expenses:
|
|
|
|
|
|
||||||
Salary and service costs
|
11,249.7
|
|
|
11,440.6
|
|
|
11,248.7
|
|
|||
Occupancy and other costs
|
1,232.1
|
|
|
1,230.6
|
|
|
1,242.7
|
|
|||
Cost of services
|
12,481.8
|
|
|
12,671.2
|
|
|
12,491.4
|
|
|||
Selling, general and administrative expenses
|
450.0
|
|
|
443.9
|
|
|
431.8
|
|
|||
Depreciation and amortization
|
282.1
|
|
|
292.9
|
|
|
291.1
|
|
|||
|
13,213.9
|
|
|
13,408.0
|
|
|
13,214.3
|
|
|||
Operating Profit
|
2,059.7
|
|
|
2,008.9
|
|
|
1,920.1
|
|
|||
Interest Expense
|
224.5
|
|
|
209.7
|
|
|
181.1
|
|
|||
Interest Income
|
49.7
|
|
|
42.6
|
|
|
39.6
|
|
|||
Income Before Income Taxes and Income From Equity Method Investments
|
1,884.9
|
|
|
1,841.8
|
|
|
1,778.6
|
|
|||
Income Tax Expense
|
696.2
|
|
|
600.5
|
|
|
583.6
|
|
|||
Income From Equity Method Investments
|
3.5
|
|
|
5.4
|
|
|
8.4
|
|
|||
Net Income
|
1,192.2
|
|
|
1,246.7
|
|
|
1,203.4
|
|
|||
Net Income Attributed To Noncontrolling Interests
|
103.8
|
|
|
98.1
|
|
|
109.5
|
|
|||
Net Income - Omnicom Group Inc.
|
$
|
1,088.4
|
|
|
$
|
1,148.6
|
|
|
$
|
1,093.9
|
|
|
|
|
|
|
|
||||||
Net Income Per Share - Omnicom Group Inc.:
|
|
|
|
|
|
||||||
Basic
|
$
|
4.68
|
|
|
$
|
4.80
|
|
|
$
|
4.43
|
|
Diluted
|
$
|
4.65
|
|
|
$
|
4.78
|
|
|
$
|
4.41
|
|
|
|
|
|
|
|
||||||
Dividends Declared Per Common Share
|
$
|
2.25
|
|
|
$
|
2.15
|
|
|
$
|
2.00
|
|
|
Years Ended December 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
Net Income
|
$
|
1,192.2
|
|
|
$
|
1,246.7
|
|
|
$
|
1,203.4
|
|
Other Comprehensive Income (Loss):
|
|
|
|
|
|
||||||
Cash flow hedge:
|
|
|
|
|
|
||||||
Loss for the period
|
—
|
|
|
(48.9
|
)
|
|
(5.6
|
)
|
|||
Amortization of loss included in interest expense
|
5.3
|
|
|
4.0
|
|
|
—
|
|
|||
Income tax effect
|
(2.1
|
)
|
|
18.7
|
|
|
2.3
|
|
|||
|
3.2
|
|
|
(26.2
|
)
|
|
(3.3
|
)
|
|||
Defined benefit pension plans and postemployment arrangements:
|
|
|
|
|
|
||||||
Unrecognized actuarial losses and prior service cost for the period
|
(12.2
|
)
|
|
(18.3
|
)
|
|
(7.8
|
)
|
|||
Amortization of prior service cost and actuarial losses included in periodic benefit expense
|
16.1
|
|
|
14.0
|
|
|
14.8
|
|
|||
Income tax effect
|
(1.7
|
)
|
|
1.6
|
|
|
(2.8
|
)
|
|||
|
2.2
|
|
|
(2.7
|
)
|
|
4.2
|
|
|||
Available-for-sale securities:
|
|
|
|
|
|
||||||
Unrealized gain for the period
|
0.8
|
|
|
0.2
|
|
|
0.4
|
|
|||
Income tax effect
|
(0.3
|
)
|
|
(0.1
|
)
|
|
(0.1
|
)
|
|||
|
0.5
|
|
|
0.1
|
|
|
0.3
|
|
|||
|
|
|
|
|
|
||||||
Foreign currency translation adjustment
|
412.7
|
|
|
(319.4
|
)
|
|
(427.2
|
)
|
|||
Other Comprehensive Income (Loss)
|
418.6
|
|
|
(348.2
|
)
|
|
(426.0
|
)
|
|||
Comprehensive Income
|
1,610.8
|
|
|
898.5
|
|
|
777.4
|
|
|||
Comprehensive Income Attributed To Noncontrolling Interests
|
129.4
|
|
|
90.5
|
|
|
80.7
|
|
|||
Comprehensive Income - Omnicom Group Inc.
|
$
|
1,481.4
|
|
|
$
|
808.0
|
|
|
$
|
696.7
|
|
|
Omnicom Group Inc.
|
|
|
|
|
|||||||||||||||||||||||||||||
|
Common Stock
|
|
Additional
Paid-in
Capital
|
|
Retained
Earnings
|
|
Accumulated
Other
Comprehensive
Income (Loss)
|
|
Treasury
Stock
|
|
Shareholders’
Equity
|
|
Noncontrolling
Interests
|
|
Total
Equity
|
|||||||||||||||||||
|
Shares
|
|
Par Value
|
|
|
|
|
|
||||||||||||||||||||||||||
Balance as of December 31, 2014
|
397.2
|
|
|
$
|
59.6
|
|
|
$
|
818.6
|
|
|
$
|
9,576.9
|
|
|
$
|
(618.2
|
)
|
|
$
|
(6,986.9
|
)
|
|
$
|
2,850.0
|
|
|
$
|
471.3
|
|
|
$
|
3,321.3
|
|
Net income
|
|
|
|
|
|
|
1,093.9
|
|
|
|
|
|
|
1,093.9
|
|
|
109.5
|
|
|
1,203.4
|
|
|||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
(397.2
|
)
|
|
|
|
(397.2
|
)
|
|
(28.8
|
)
|
|
(426.0
|
)
|
|||||||||||||
Dividends to noncontrolling interests
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(129.4
|
)
|
|
(129.4
|
)
|
|||||||||||||||
Acquisition of noncontrolling interests
|
|
|
|
|
(38.8
|
)
|
|
|
|
|
|
|
|
(38.8
|
)
|
|
(24.2
|
)
|
|
(63.0
|
)
|
|||||||||||||
Increase in noncontrolling interests from business combinations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38.6
|
|
|
38.6
|
|
|||||||||||||||
Change in temporary equity
|
|
|
|
|
11.9
|
|
|
|
|
|
|
|
|
|
11.9
|
|
|
|
|
|
11.9
|
|
||||||||||||
Common stock dividends declared ($2.00 per share)
|
|
|
|
|
|
|
(492.6
|
)
|
|
|
|
|
|
(492.6
|
)
|
|
|
|
(492.6
|
)
|
||||||||||||||
Share-based compensation
|
|
|
|
|
99.4
|
|
|
|
|
|
|
|
|
99.4
|
|
|
|
|
99.4
|
|
||||||||||||||
Stock issued, share-based compensation
|
|
|
|
|
(31.2
|
)
|
|
|
|
|
|
84.5
|
|
|
53.3
|
|
|
|
|
53.3
|
|
|||||||||||||
Common stock repurchased
|
|
|
|
|
|
|
|
|
|
|
(727.5
|
)
|
|
(727.5
|
)
|
|
|
|
(727.5
|
)
|
||||||||||||||
Balance as of December 31, 2015
|
397.2
|
|
|
59.6
|
|
|
859.9
|
|
|
10,178.2
|
|
|
(1,015.4
|
)
|
|
(7,629.9
|
)
|
|
2,452.4
|
|
|
437.0
|
|
|
2,889.4
|
|
||||||||
Net income
|
|
|
|
|
|
|
1,148.6
|
|
|
|
|
|
|
1,148.6
|
|
|
98.1
|
|
|
1,246.7
|
|
|||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
(340.6
|
)
|
|
|
|
(340.6
|
)
|
|
(7.6
|
)
|
|
(348.2
|
)
|
|||||||||||||
Dividends to noncontrolling interests
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(87.2
|
)
|
|
(87.2
|
)
|
|||||||||||||||
Acquisition of noncontrolling interests
|
|
|
|
|
(87.7
|
)
|
|
|
|
|
|
|
|
(87.7
|
)
|
|
(16.0
|
)
|
|
(103.7
|
)
|
|||||||||||||
Increase in noncontrolling interests from business combinations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
73.3
|
|
|
73.3
|
|
|||||||||||||||
Change in temporary equity
|
|
|
|
|
(33.0
|
)
|
|
|
|
|
|
|
|
(33.0
|
)
|
|
|
|
(33.0
|
)
|
||||||||||||||
Common stock dividends declared ($2.15 per share)
|
|
|
|
|
|
|
(513.9
|
)
|
|
|
|
|
|
(513.9
|
)
|
|
|
|
(513.9
|
)
|
||||||||||||||
Share-based compensation
|
|
|
|
|
93.4
|
|
|
|
|
|
|
|
|
93.4
|
|
|
|
|
93.4
|
|
||||||||||||||
Stock issued, share-based compensation
|
|
|
|
|
(34.3
|
)
|
|
|
|
|
|
79.3
|
|
|
45.0
|
|
|
|
|
45.0
|
|
|||||||||||||
Common stock repurchased
|
|
|
|
|
|
|
|
|
|
|
(602.2
|
)
|
|
(602.2
|
)
|
|
|
|
(602.2
|
)
|
||||||||||||||
Treasury stock retired
|
(100.0
|
)
|
|
(15.0
|
)
|
|
|
|
(5,135.7
|
)
|
|
|
|
5,150.7
|
|
|
—
|
|
|
|
|
—
|
|
|||||||||||
Balance as of December 31, 2016
|
297.2
|
|
|
44.6
|
|
|
798.3
|
|
|
5,677.2
|
|
|
(1,356.0
|
)
|
|
(3,002.1
|
)
|
|
2,162.0
|
|
|
497.6
|
|
|
2,659.6
|
|
||||||||
Cumulative effect of accounting changes
|
|
|
|
|
4.5
|
|
|
(31.6
|
)
|
|
|
|
|
|
(27.1
|
)
|
|
—
|
|
|
(27.1
|
)
|
||||||||||||
Net income
|
|
|
|
|
|
|
1,088.4
|
|
|
|
|
|
|
1,088.4
|
|
|
103.8
|
|
|
1,192.2
|
|
|||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
393.0
|
|
|
|
|
393.0
|
|
|
25.6
|
|
|
418.6
|
|
|||||||||||||
Dividends to noncontrolling interests
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(101.7
|
)
|
|
(101.7
|
)
|
|||||||||||||||
Acquisition of noncontrolling interests
|
|
|
|
|
(25.7
|
)
|
|
|
|
|
|
|
|
(25.7
|
)
|
|
(8.2
|
)
|
|
(33.9
|
)
|
|||||||||||||
Increase in noncontrolling interests from business combinations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20.0
|
|
|
20.0
|
|
|||||||||||||||
Change in temporary equity
|
|
|
|
|
27.1
|
|
|
|
|
|
|
|
|
27.1
|
|
|
|
|
27.1
|
|
||||||||||||||
Common stock dividends declared ($2.25 per share)
|
|
|
|
|
|
|
(523.4
|
)
|
|
|
|
|
|
(523.4
|
)
|
|
|
|
|
(523.4
|
)
|
|||||||||||||
Share-based compensation
|
|
|
|
|
80.2
|
|
|
|
|
|
|
|
|
80.2
|
|
|
|
|
|
80.2
|
|
|||||||||||||
Stock issued, share-based compensation
|
|
|
|
|
(56.1
|
)
|
|
|
|
|
|
65.1
|
|
|
9.0
|
|
|
|
|
|
9.0
|
|
||||||||||||
Common stock repurchased
|
|
|
|
|
|
|
|
|
|
|
(568.4
|
)
|
|
(568.4
|
)
|
|
|
|
|
(568.4
|
)
|
|||||||||||||
Balance as of December 31, 2017
|
297.2
|
|
|
$
|
44.6
|
|
|
$
|
828.3
|
|
|
$
|
6,210.6
|
|
|
$
|
(963.0
|
)
|
|
$
|
(3,505.4
|
)
|
|
$
|
2,615.1
|
|
|
$
|
537.1
|
|
|
$
|
3,152.2
|
|
|
Years Ended December 31,
|
||||||||||
|
2017
|
|
2016
|
|
2015
|
||||||
|
|
|
|
|
|
||||||
Net income
|
$
|
1,192.2
|
|
|
$
|
1,246.7
|
|
|
$
|
1,203.4
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
|
|
||||||
Depreciation
|
168.3
|
|
|
177.7
|
|
|
181.8
|
|
|||
Amortization of intangible assets
|
113.8
|
|
|
115.2
|
|
|
109.3
|
|
|||
Amortization of deferred gain on interest rate swaps
|
(12.9
|
)
|
|
(15.4
|
)
|
|
(9.2
|
)
|
|||
Share-based compensation
|
80.2
|
|
|
93.4
|
|
|
99.4
|
|
|||
Impact of Tax Act
|
106.3
|
|
|
—
|
|
|
—
|
|
|||
Other, net
|
27.5
|
|
|
32.0
|
|
|
55.3
|
|
|||
Increase in operating capital
|
348.5
|
|
|
302.8
|
|
|
559.5
|
|
|||
Net Cash Provided By Operating Activities
|
2,023.9
|
|
|
1,952.4
|
|
|
2,199.5
|
|
|||
Cash Flows from Investing Activities:
|
|
|
|
|
|
||||||
Capital expenditures
|
(156.0
|
)
|
|
(165.5
|
)
|
|
(202.7
|
)
|
|||
Acquisition of businesses and interests in affiliates, net of cash acquired
|
(26.3
|
)
|
|
(308.8
|
)
|
|
(60.3
|
)
|
|||
Sale (purchase) of investments, net
|
66.9
|
|
|
(7.3
|
)
|
|
(0.5
|
)
|
|||
Net Cash Used In Investing Activities
|
(115.4
|
)
|
|
(481.6
|
)
|
|
(263.5
|
)
|
|||
Cash Flows from Financing Activities:
|
|
|
|
|
|
||||||
Change in short-term debt
|
(18.1
|
)
|
|
(1.2
|
)
|
|
(1.1
|
)
|
|||
Proceeds from borrowings
|
—
|
|
|
1,389.6
|
|
|
—
|
|
|||
Repayment of debt
|
—
|
|
|
(1,000.0
|
)
|
|
—
|
|
|||
Dividends paid to common shareholders
|
(515.2
|
)
|
|
(505.4
|
)
|
|
(496.7
|
)
|
|||
Repurchases of common stock
|
(568.4
|
)
|
|
(602.2
|
)
|
|
(727.5
|
)
|
|||
Proceeds from stock plans
|
10.7
|
|
|
26.8
|
|
|
20.1
|
|
|||
Acquisition of additional noncontrolling interests
|
(17.0
|
)
|
|
(72.7
|
)
|
|
(33.5
|
)
|
|||
Dividends paid to noncontrolling interest shareholders
|
(101.7
|
)
|
|
(87.2
|
)
|
|
(129.4
|
)
|
|||
Payment of contingent purchase price obligations
|
(108.4
|
)
|
|
(110.5
|
)
|
|
(55.3
|
)
|
|||
Other, net
|
(24.5
|
)
|
|
(35.5
|
)
|
|
(32.9
|
)
|
|||
Net Cash Used In Financing Activities
|
(1,342.6
|
)
|
|
(998.3
|
)
|
|
(1,456.3
|
)
|
|||
Effect of foreign exchange rate changes on cash and cash equivalents
|
227.9
|
|
|
(75.5
|
)
|
|
(262.6
|
)
|
|||
Net Increase in Cash and Cash Equivalents
|
793.8
|
|
|
397.0
|
|
|
217.1
|
|
|||
Cash and Cash Equivalents at the Beginning of Year
|
3,002.2
|
|
|
2,605.2
|
|
|
2,388.1
|
|
|||
Cash and Cash Equivalents at the End of Year
|
$
|
3,796.0
|
|
|
$
|
3,002.2
|
|
|
$
|
2,605.2
|
|
•
|
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities.
|
•
|
Level 2 - Unadjusted quoted prices in active markets for similar assets or liabilities; unadjusted quoted prices for identical assets or liabilities in markets that are not active; and model-derived valuations with observable inputs.
|
•
|
Level 3 - Unobservable inputs for the asset or liability.
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net Income Available for Common Shares:
|
|
|
|
|
|
||||||
Net income - Omnicom Group Inc.
|
$
|
1,088.4
|
|
|
$
|
1,148.6
|
|
|
$
|
1,093.9
|
|
Net income allocated to participating securities
|
(1.6
|
)
|
|
(6.5
|
)
|
|
(12.4
|
)
|
|||
|
$
|
1,086.8
|
|
|
$
|
1,142.1
|
|
|
$
|
1,081.5
|
|
Weighted Average Shares:
|
|
|
|
|
|
||||||
Basic
|
232.3
|
|
|
237.9
|
|
|
244.2
|
|
|||
Dilutive stock options and restricted shares
|
1.6
|
|
|
1.3
|
|
|
1.0
|
|
|||
Diluted
|
233.9
|
|
|
239.2
|
|
|
245.2
|
|
|||
|
|
|
|
|
|
||||||
Anti-dilutive stock options and restricted shares
|
1.0
|
|
|
—
|
|
|
0.1
|
|
|||
Net Income per Share - Omnicom Group Inc.:
|
|
|
|
|
|
||||||
Basic
|
$
|
4.68
|
|
|
$
|
4.80
|
|
|
$
|
4.43
|
|
Diluted
|
$
|
4.65
|
|
|
$
|
4.78
|
|
|
$
|
4.41
|
|
|
2017
|
|
2016
|
||||||||||||||||||||
|
Gross
Carrying
Value
|
|
Accumulated
Amortization
|
|
Net
Carrying
Value
|
|
Gross
Carrying
Value
|
|
Accumulated
Amortization
|
|
Net
Carrying
Value
|
||||||||||||
Goodwill
|
$
|
9,871.8
|
|
|
$
|
(534.3
|
)
|
|
$
|
9,337.5
|
|
|
$
|
9,481.4
|
|
|
$
|
(505.3
|
)
|
|
$
|
8,976.1
|
|
Intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Purchased and internally developed software
|
$
|
368.2
|
|
|
$
|
(303.0
|
)
|
|
$
|
65.2
|
|
|
$
|
342.6
|
|
|
$
|
(270.2
|
)
|
|
$
|
72.4
|
|
Customer related and other
|
880.1
|
|
|
(576.9
|
)
|
|
303.2
|
|
|
862.4
|
|
|
(507.4
|
)
|
|
355.0
|
|
||||||
|
$
|
1,248.3
|
|
|
$
|
(879.9
|
)
|
|
$
|
368.4
|
|
|
$
|
1,205.0
|
|
|
$
|
(777.6
|
)
|
|
$
|
427.4
|
|
|
2017
|
|
2016
|
||||
January 1
|
$
|
8,976.1
|
|
|
$
|
8,676.4
|
|
Acquisitions
|
19.3
|
|
|
311.7
|
|
||
Noncontrolling interests in acquired businesses
|
18.9
|
|
|
74.0
|
|
||
Contingent purchase price obligations of acquired businesses
|
27.1
|
|
|
152.8
|
|
||
Foreign currency translation and other
|
296.1
|
|
|
(238.8
|
)
|
||
December 31
|
$
|
9,337.5
|
|
|
$
|
8,976.1
|
|
|
2017
|
|
2016
|
||||
Credit Facility
|
$
|
2,500.0
|
|
|
$
|
2,500.0
|
|
Uncommitted credit lines
|
1,181.0
|
|
|
1,132.0
|
|
||
Available and unused credit lines
|
$
|
3,681.0
|
|
|
$
|
3,632.0
|
|
|
2017
|
|
2016
|
||||
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
|
|
||
3.60% Senior Notes due 2026
|
1,400.0
|
|
|
1,400.0
|
|
||
Other debt
|
—
|
|
|
0.1
|
|
||
|
4,900.0
|
|
|
4,900.1
|
|
||
Unamortized premium (discount), net
|
6.2
|
|
|
7.6
|
|
||
Unamortized debt issuance costs
|
(20.3
|
)
|
|
(24.2
|
)
|
||
Unamortized deferred gain from settlement of interest rate swaps
|
66.4
|
|
|
84.7
|
|
||
Fair value adjustment attributed to outstanding interest rate swaps
|
(39.4
|
)
|
|
(47.6
|
)
|
||
|
4,912.9
|
|
|
4,920.6
|
|
||
Current portion
|
—
|
|
|
(0.1
|
)
|
||
Long-term debt
|
$
|
4,912.9
|
|
|
$
|
4,920.5
|
|
2018
|
$
|
—
|
|
2019
|
500.0
|
|
|
2020
|
1,000.0
|
|
|
2021
|
—
|
|
|
2022
|
1,250.0
|
|
|
Thereafter
|
2,150.0
|
|
|
|
$
|
4,900.0
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Long-term debt
|
$
|
201.6
|
|
|
$
|
205.5
|
|
|
$
|
210.2
|
|
Interest rate swaps
|
(7.2
|
)
|
|
(13.1
|
)
|
|
(44.1
|
)
|
|||
Amortization of deferred gain on interest rate swaps
|
(12.9
|
)
|
|
(15.4
|
)
|
|
(9.2
|
)
|
|||
Commercial paper
|
12.5
|
|
|
6.8
|
|
|
4.8
|
|
|||
Fees
|
5.6
|
|
|
5.6
|
|
|
5.7
|
|
|||
Other
|
24.9
|
|
|
20.3
|
|
|
13.7
|
|
|||
|
$
|
224.5
|
|
|
$
|
209.7
|
|
|
$
|
181.1
|
|
|
Americas
|
|
EMEA
|
|
Asia Pacific
|
|||||||
2017
|
|
|
|
|
|
|||||||
Revenue
|
$
|
9,180.8
|
|
|
$
|
4,442.5
|
|
|
$
|
1,650.3
|
|
|
Long-lived assets and goodwill
|
6,633.8
|
|
|
2,840.8
|
|
|
553.8
|
|
||||
2016
|
|
|
|
|
|
|||||||
Revenue
|
$
|
9,597.6
|
|
|
$
|
4,183.1
|
|
|
$
|
1,636.2
|
|
|
Long-lived assets and goodwill
|
6,662.7
|
|
|
2,469.1
|
|
|
519.1
|
|
||||
2015
|
|
|
|
|
|
|||||||
Revenue
|
$
|
9,359.0
|
|
|
$
|
4,203.5
|
|
|
$
|
1,571.9
|
|
|
Long-lived assets and goodwill
|
6,103.4
|
|
|
2,737.8
|
|
|
527.9
|
|
|
2017
|
|
2016
|
|
2015
|
|||||||||
|
Shares
|
|
Weighted
Average
Exercise
Price
|
|
Shares
|
|
Weighted
Average
Exercise
Price
|
|
Shares
|
|
Weighted
Average
Exercise
Price
|
|||
January 1
|
719,757
|
|
|
$27.88
|
|
1,140,547
|
|
|
$28.86
|
|
1,652,140
|
|
|
$27.97
|
Granted
|
1,000,000
|
|
|
$84.94
|
|
—
|
|
|
|
|
—
|
|
|
|
Exercised
|
(102,335
|
)
|
|
$23.40
|
|
(420,790
|
)
|
|
$30.56
|
|
(511,593
|
)
|
|
$25.98
|
Forfeited
|
(24,000
|
)
|
|
$84.94
|
|
—
|
|
|
|
|
—
|
|
|
|
December 31
|
1,593,422
|
|
|
$63.11
|
|
719,757
|
|
|
$27.88
|
|
1,140,547
|
|
|
$28.86
|
|
|
|
|
|
|
|
|
|
|
|
|
|||
Exercisable December 31
|
617,422
|
|
|
$28.61
|
|
695,757
|
|
|
$26.54
|
|
1,074,547
|
|
|
$26.47
|
|
|
|
|
Options Outstanding
|
|
Options Exercisable
|
||||||||
Exercise Price Range
|
|
Shares
|
|
Weighted Average
Remaining
Contractual Life
|
|
Weighted Average
Exercise Price
|
|
Shares
|
|
Weighted Average
Exercise Price
|
||||
$23.00
|
to
|
$24.00
|
|
545,422
|
|
|
1.2 years
|
|
$23.40
|
|
545,422
|
|
|
$23.40
|
$66.00
|
to
|
$71.00
|
|
72,000
|
|
|
6.4 years
|
|
$68.04
|
|
72,000
|
|
|
$68.04
|
$84.00
|
to
|
$85.00
|
|
976,000
|
|
|
5.2 years
|
|
$84.94
|
|
—
|
|
|
|
|
|
|
|
1,593,422
|
|
|
|
|
|
|
617,422
|
|
|
|
|
2017
|
|
2016
|
|
2015
|
|||
January 1
|
3,802,105
|
|
|
4,349,105
|
|
|
5,040,641
|
|
Granted
|
966,919
|
|
|
1,100,396
|
|
|
1,208,964
|
|
Vested
|
(1,757,269
|
)
|
|
(1,438,386
|
)
|
|
(1,631,343
|
)
|
Forfeited
|
(152,382
|
)
|
|
(209,010
|
)
|
|
(269,157
|
)
|
December 31
|
2,859,373
|
|
|
3,802,105
|
|
|
4,349,105
|
|
|
|
|
|
|
|
|||
Weighted average grant date fair value of shares granted in the period
|
$74.10
|
|
$73.16
|
|
$64.49
|
|||
|
|
|
|
|
|
|||
Weighted average grant date fair value at December 31
|
$68.85
|
|
$61.72
|
|
$55.08
|
|
2017
|
|
2016
|
|
2015
|
|||||||||||||||
|
Shares
|
|
Weighted Average Grant Date Fair Value
|
|
Shares
|
|
Weighted Average Grant Date Fair Value
|
|
Shares
|
|
Weighted Average Grant Date Fair Value
|
|||||||||
January 1
|
462,381
|
|
|
$
|
77.05
|
|
|
534,456
|
|
|
$
|
66.05
|
|
|
622,859
|
|
|
$
|
56.16
|
|
Granted
|
173,770
|
|
|
84.94
|
|
|
153,492
|
|
|
83.23
|
|
|
161,625
|
|
|
77.68
|
|
|||
Distributed
|
(147,264
|
)
|
|
69.89
|
|
|
(225,567
|
)
|
|
55.20
|
|
|
(239,387
|
)
|
|
48.94
|
|
|||
Forfeited
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(10,641
|
)
|
|
48.87
|
|
|||
December 31
|
488,887
|
|
|
$
|
82.01
|
|
|
462,381
|
|
|
$
|
77.05
|
|
|
534,456
|
|
|
$
|
66.05
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Domestic
|
$
|
832.4
|
|
|
$
|
805.2
|
|
|
$
|
803.3
|
|
International
|
1,052.5
|
|
|
1,036.6
|
|
|
975.3
|
|
|||
|
$
|
1,884.9
|
|
|
$
|
1,841.8
|
|
|
$
|
1,778.6
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Current:
|
|
|
|
|
|
||||||
Federal
|
$
|
458.8
|
|
|
$
|
381.8
|
|
|
$
|
342.3
|
|
State and local
|
36.5
|
|
|
12.6
|
|
|
29.9
|
|
|||
International
|
280.2
|
|
|
332.1
|
|
|
324.5
|
|
|||
|
775.5
|
|
|
726.5
|
|
|
696.7
|
|
|||
Deferred:
|
|
|
|
|
|
||||||
Federal
|
(205.5
|
)
|
|
(88.2
|
)
|
|
(86.7
|
)
|
|||
State and local
|
11.1
|
|
|
12.0
|
|
|
12.1
|
|
|||
International
|
115.1
|
|
|
(49.8
|
)
|
|
(38.5
|
)
|
|||
|
(79.3
|
)
|
|
(126.0
|
)
|
|
(113.1
|
)
|
|||
|
$
|
696.2
|
|
|
$
|
600.5
|
|
|
$
|
583.6
|
|
|
2017
|
|
2016
|
|
2015
|
|||
Statutory U.S. federal income tax rate
|
35.0
|
%
|
|
35.0
|
%
|
|
35.0
|
%
|
State and local income taxes, net of federal income tax benefit
|
1.3
|
|
|
0.9
|
|
|
1.5
|
|
Effect of Tax Act
|
5.6
|
|
|
—
|
|
|
—
|
|
International tax rate differentials
|
(3.8
|
)
|
|
(4.0
|
)
|
|
(3.7
|
)
|
Other
|
(1.2
|
)
|
|
0.7
|
|
|
—
|
|
Effective tax rate
|
36.9
|
%
|
|
32.6
|
%
|
|
32.8
|
%
|
|
2017
|
|
2016
|
||||
Deferred tax assets:
|
|
|
|
||||
Compensation
|
$
|
173.7
|
|
|
$
|
307.5
|
|
Tax loss and credit carryforwards
|
40.3
|
|
|
88.5
|
|
||
Basis differences from acquisitions
|
18.0
|
|
|
24.3
|
|
||
Basis differences from short-term assets and liabilities
|
39.5
|
|
|
36.2
|
|
||
Other
|
17.8
|
|
|
18.7
|
|
||
Deferred tax assets
|
289.3
|
|
|
475.2
|
|
||
Valuation allowance
|
(3.3
|
)
|
|
(3.0
|
)
|
||
Net deferred tax assets
|
$
|
286.0
|
|
|
$
|
472.2
|
|
Deferred tax liabilities:
|
|
|
|
||||
Goodwill and intangible assets
|
$
|
562.2
|
|
|
$
|
802.7
|
|
Unremitted foreign earnings
|
94.9
|
|
|
15.9
|
|
||
Financial instruments
|
41.4
|
|
|
132.3
|
|
||
Basis differences from investments
|
9.8
|
|
|
1.8
|
|
||
Deferred tax liabilities
|
$
|
708.3
|
|
|
$
|
952.7
|
|
|
|
|
|
||||
Long-term deferred tax assets
|
$
|
61.3
|
|
|
$
|
—
|
|
|
|
|
|
||||
Long-term deferred tax liabilities
|
$
|
483.6
|
|
|
$
|
480.5
|
|
|
2017
|
|
2016
|
||||
January 1
|
$
|
116.9
|
|
|
$
|
113.0
|
|
Additions:
|
|
|
|
||||
Current year tax positions
|
67.1
|
|
|
20.0
|
|
||
Prior year tax positions
|
5.5
|
|
|
6.5
|
|
||
Reduction of prior year tax positions
|
(16.5
|
)
|
|
(21.9
|
)
|
||
Settlements
|
—
|
|
|
(0.7
|
)
|
||
Foreign currency translation
|
0.7
|
|
|
—
|
|
||
December 31
|
$
|
173.7
|
|
|
$
|
116.9
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Service cost
|
$
|
10.1
|
|
|
$
|
7.8
|
|
|
$
|
5.3
|
|
Interest cost
|
7.9
|
|
|
7.8
|
|
|
7.6
|
|
|||
Expected return on plan assets
|
(3.6
|
)
|
|
(3.7
|
)
|
|
(4.0
|
)
|
|||
Amortization of prior service cost
|
4.6
|
|
|
4.5
|
|
|
4.3
|
|
|||
Amortization of actuarial losses
|
7.0
|
|
|
5.3
|
|
|
5.7
|
|
|||
|
$
|
26.0
|
|
|
$
|
21.7
|
|
|
$
|
18.9
|
|
|
2017
|
|
2016
|
||||
Benefit Obligation:
|
|
|
|
||||
January 1
|
$
|
251.1
|
|
|
$
|
234.8
|
|
Service cost
|
10.1
|
|
|
7.8
|
|
||
Interest cost
|
7.9
|
|
|
7.8
|
|
||
Amendments, curtailments and settlements
|
0.3
|
|
|
—
|
|
||
Actuarial losses
|
6.8
|
|
|
13.3
|
|
||
Benefits paid
|
(9.1
|
)
|
|
(9.4
|
)
|
||
Foreign currency translation
|
9.9
|
|
|
(3.2
|
)
|
||
December 31
|
$
|
277.0
|
|
|
$
|
251.1
|
|
Fair Value of Plan Assets:
|
|
|
|
||||
January 1
|
$
|
68.6
|
|
|
$
|
68.9
|
|
Actual return on plan assets
|
6.3
|
|
|
4.9
|
|
||
Employer contributions
|
8.3
|
|
|
6.6
|
|
||
Benefits paid
|
(9.1
|
)
|
|
(9.4
|
)
|
||
Foreign currency translation and other
|
6.2
|
|
|
(2.4
|
)
|
||
December 31
|
$
|
80.3
|
|
|
$
|
68.6
|
|
|
|
|
|
||||
Funded Status December 31
|
$
|
(196.7
|
)
|
|
$
|
(182.5
|
)
|
|
2017
|
|
2016
|
||||
Other assets
|
$
|
6.0
|
|
|
$
|
4.2
|
|
Other current liabilities
|
(5.1
|
)
|
|
(5.1
|
)
|
||
Long-term liabilities
|
(197.6
|
)
|
|
(181.6
|
)
|
||
|
$
|
(196.7
|
)
|
|
$
|
(182.5
|
)
|
|
2017
|
|
2016
|
||||
Benefit obligation
|
$
|
253.8
|
|
|
$
|
241.3
|
|
Plan assets
|
51.1
|
|
|
54.6
|
|
||
|
$
|
202.7
|
|
|
$
|
186.7
|
|
|
2017
|
|
2016
|
||
Discount rate
|
3.1
|
%
|
|
3.5
|
%
|
Compensation increases
|
2.0
|
%
|
|
2.0
|
%
|
2018
|
$
|
9.7
|
|
2019
|
10.8
|
|
|
2020
|
12.3
|
|
|
2021
|
16.1
|
|
|
2022
|
16.8
|
|
|
2023 - 2027
|
99.6
|
|
2017
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Cash
|
$
|
1.0
|
|
|
|
|
|
|
$
|
1.0
|
|
||||
Mutual funds
|
41.5
|
|
|
|
|
|
|
41.5
|
|
||||||
Unit trusts
|
28.2
|
|
|
|
|
|
|
28.2
|
|
||||||
Insurance contracts
|
|
|
|
|
$
|
8.6
|
|
|
8.6
|
|
|||||
Other
|
|
|
$
|
1.0
|
|
|
|
|
1.0
|
|
|||||
|
$
|
70.7
|
|
|
$
|
1.0
|
|
|
$
|
8.6
|
|
|
$
|
80.3
|
|
2016
|
|
|
|
|
|
|
|
||||||||
Cash
|
$
|
1.6
|
|
|
|
|
|
|
$
|
1.6
|
|
||||
Mutual funds
|
39.0
|
|
|
|
|
|
|
39.0
|
|
||||||
Unit trusts
|
23.5
|
|
|
|
|
|
|
23.5
|
|
||||||
Insurance contracts
|
|
|
|
|
$
|
4.3
|
|
|
4.3
|
|
|||||
Other
|
|
|
$
|
0.2
|
|
|
|
|
0.2
|
|
|||||
|
$
|
64.1
|
|
|
$
|
0.2
|
|
|
$
|
4.3
|
|
|
$
|
68.6
|
|
|
2017
|
|
2016
|
||||
January 1
|
$
|
4.3
|
|
|
$
|
4.2
|
|
Actual return on assets
|
0.2
|
|
|
0.2
|
|
||
Purchases, sales and settlements, net
|
4.1
|
|
|
(0.1
|
)
|
||
December 31
|
$
|
8.6
|
|
|
$
|
4.3
|
|
|
2017
|
|
2016
|
|||||
|
Target
Allocation
|
|
Actual
Allocation
|
|
Actual
Allocation
|
|||
Cash
|
4
|
%
|
|
1
|
%
|
|
3
|
%
|
Mutual funds
|
48
|
%
|
|
52
|
%
|
|
57
|
%
|
Unit trusts
|
34
|
%
|
|
35
|
%
|
|
34
|
%
|
Insurance contracts
|
11
|
%
|
|
11
|
%
|
|
6
|
%
|
Other
|
3
|
%
|
|
1
|
%
|
|
—
|
%
|
|
100
|
%
|
|
100
|
%
|
|
100
|
%
|
|
2017
|
|
2016
|
|
2015
|
||||||
Service cost
|
$
|
4.4
|
|
|
$
|
3.9
|
|
|
$
|
4.8
|
|
Interest cost
|
3.7
|
|
|
3.5
|
|
|
4.3
|
|
|||
Amortization of prior service cost
|
3.5
|
|
|
3.1
|
|
|
3.2
|
|
|||
Amortization of actuarial losses
|
1.0
|
|
|
1.1
|
|
|
1.6
|
|
|||
|
$
|
12.6
|
|
|
$
|
11.6
|
|
|
$
|
13.9
|
|
|
2017
|
|
2016
|
|
2015
|
|||
Discount rate
|
3.9
|
%
|
|
4.1
|
%
|
|
3.8
|
%
|
Compensation increases
|
3.5
|
%
|
|
3.5
|
%
|
|
3.5
|
%
|
|
2017
|
|
2016
|
||||
January 1
|
$
|
120.3
|
|
|
$
|
115.9
|
|
Service cost
|
4.4
|
|
|
3.9
|
|
||
Interest cost
|
3.7
|
|
|
3.5
|
|
||
Amendments
|
—
|
|
|
5.6
|
|
||
Actuarial (gain) loss
|
8.1
|
|
|
0.6
|
|
||
Benefits paid
|
(8.8
|
)
|
|
(9.2
|
)
|
||
December 31
|
$
|
127.7
|
|
|
$
|
120.3
|
|
|
2017
|
|
2016
|
||||
Other current liabilities
|
$
|
9.3
|
|
|
$
|
8.1
|
|
Long-term liabilities
|
118.4
|
|
|
112.2
|
|
||
|
$
|
127.7
|
|
|
$
|
120.3
|
|
|
2017
|
|
2016
|
||
Discount rate
|
3.4
|
%
|
|
3.9
|
%
|
Compensation increases
|
3.5
|
%
|
|
3.5
|
%
|
2018
|
$
|
9.3
|
|
2019
|
7.4
|
|
|
2020
|
6.6
|
|
|
2021
|
6.1
|
|
|
2022
|
6.5
|
|
|
2023 - 2027
|
33.2
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
(Increase) decrease in accounts receivable
|
$
|
(341.6
|
)
|
|
$
|
(376.5
|
)
|
|
$
|
(1,063.6
|
)
|
(Increase) decrease in work in process and other current assets
|
5.4
|
|
|
(89.7
|
)
|
|
(79.6
|
)
|
|||
Increase (decrease) in accounts payable
|
763.2
|
|
|
741.9
|
|
|
1,443.7
|
|
|||
Increase (decrease) in customer advances, taxes payable and other
current liabilities
|
4.8
|
|
|
31.6
|
|
|
243.9
|
|
|||
Change in other assets and liabilities, net
|
(83.3
|
)
|
|
(4.5
|
)
|
|
15.1
|
|
|||
|
$
|
348.5
|
|
|
$
|
302.8
|
|
|
$
|
559.5
|
|
|
|
|
|
|
|
||||||
Income taxes paid
|
$
|
566.0
|
|
|
$
|
570.4
|
|
|
$
|
540.1
|
|
Interest paid
|
$
|
226.2
|
|
|
$
|
216.7
|
|
|
$
|
173.9
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Net income attributed to Omnicom Group Inc.
|
$
|
1,088.4
|
|
|
$
|
1,148.6
|
|
|
$
|
1,093.9
|
|
Transfers (to) from noncontrolling interests:
|
|
|
|
|
|
||||||
Increase in additional paid-in capital from sale of shares in noncontrolling interests
|
1.8
|
|
|
2.0
|
|
|
1.7
|
|
|||
Decrease in additional paid-in capital from purchase of shares in noncontrolling interests
|
(27.5
|
)
|
|
(89.7
|
)
|
|
(40.5
|
)
|
|||
Net transfers (to) from noncontrolling interests
|
(25.7
|
)
|
|
(87.7
|
)
|
|
(38.8
|
)
|
|||
Change from net income attributed to Omnicom Group Inc. and
transfers (to) from noncontrolling interests
|
$
|
1,062.7
|
|
|
$
|
1,060.9
|
|
|
$
|
1,055.1
|
|
|
2017
|
|
2016
|
|
2015
|
||||||
Office base rent
|
$
|
336.7
|
|
|
$
|
339.7
|
|
|
$
|
342.5
|
|
Third party sublease rent
|
(6.3
|
)
|
|
(5.6
|
)
|
|
(11.0
|
)
|
|||
Net office rent
|
330.4
|
|
|
334.1
|
|
|
331.5
|
|
|||
Equipment rent
|
20.1
|
|
|
21.0
|
|
|
22.6
|
|
|||
|
$
|
350.5
|
|
|
$
|
355.1
|
|
|
$
|
354.1
|
|
|
Operating Leases
|
|
Capital Leases
|
||||
2018
|
$
|
317.8
|
|
|
$
|
34.5
|
|
2019
|
249.7
|
|
|
30.0
|
|
||
2020
|
198.3
|
|
|
26.4
|
|
||
2021
|
169.4
|
|
|
17.1
|
|
||
2022
|
144.2
|
|
|
6.4
|
|
||
Thereafter
|
627.2
|
|
|
3.1
|
|
||
Total
|
1,706.6
|
|
|
117.5
|
|
||
Sublease rent
|
(19.0
|
)
|
|
|
|||
Net operating lease payments
|
$
|
1,687.6
|
|
|
|
||
Interest component
|
|
|
(7.0
|
)
|
|||
Present value of minimum capital lease payments
|
|
|
$
|
110.5
|
|
|
2017
|
|
2016
|
||||
Property under capital lease:
|
|
|
|
||||
Cost
|
$
|
229.3
|
|
|
$
|
184.8
|
|
Accumulated depreciation
|
(121.0
|
)
|
|
(110.2
|
)
|
||
|
$
|
108.3
|
|
|
$
|
74.6
|
|
Capital lease obligations:
|
|
|
|
||||
Current
|
$
|
31.6
|
|
|
$
|
24.2
|
|
Long-term
|
78.9
|
|
|
49.8
|
|
||
|
$
|
110.5
|
|
|
$
|
74.0
|
|
|
Cash Flow Hedge
|
|
Available-for-Sale Securities
|
|
Defined Benefit Pension Plans and Postemployment Arrangements
|
|
Foreign Currency Translation
|
|
Total
|
||||||||||
January 1, 2016
|
$
|
(3.3
|
)
|
|
$
|
(0.9
|
)
|
|
$
|
(87.9
|
)
|
|
$
|
(923.3
|
)
|
|
$
|
(1,015.4
|
)
|
Other comprehensive income (loss) before
reclassifications
|
(28.5
|
)
|
|
0.1
|
|
|
(11.0
|
)
|
|
(311.8
|
)
|
|
(351.2
|
)
|
|||||
Reclassification from accumulated other
comprehensive income (loss)
|
2.3
|
|
|
—
|
|
|
8.3
|
|
|
—
|
|
|
10.6
|
|
|||||
December 31, 2016
|
(29.5
|
)
|
|
(0.8
|
)
|
|
(90.6
|
)
|
|
(1,235.1
|
)
|
|
(1,356.0
|
)
|
|||||
Other comprehensive income (loss) before
reclassifications
|
—
|
|
|
0.5
|
|
|
(7.2
|
)
|
|
387.1
|
|
|
380.4
|
|
|||||
Reclassification from accumulated other
comprehensive income (loss)
|
3.2
|
|
|
—
|
|
|
9.4
|
|
|
—
|
|
|
12.6
|
|
|||||
December 31, 2017
|
$
|
(26.3
|
)
|
|
$
|
(0.3
|
)
|
|
$
|
(88.4
|
)
|
|
$
|
(848.0
|
)
|
|
$
|
(963.0
|
)
|
2017
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
3,796.0
|
|
|
|
|
|
|
$
|
3,796.0
|
|
||||
Short-term investments
|
0.4
|
|
|
|
|
|
|
0.4
|
|
||||||
Available-for-sale securities
|
1.4
|
|
|
|
|
|
|
1.4
|
|
||||||
Foreign currency derivatives
|
|
|
$
|
1.0
|
|
|
|
|
1.0
|
|
|||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
||||||
Interest rate and foreign currency derivatives
|
|
|
$
|
39.5
|
|
|
|
|
$
|
39.5
|
|
||||
Contingent purchase price obligations
|
|
|
|
|
$
|
215.6
|
|
|
215.6
|
|
2016
|
|
|
|
|
|
|
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
3,002.2
|
|
|
|
|
|
|
$
|
3,002.2
|
|
||||
Short-term investments
|
20.6
|
|
|
|
|
|
|
20.6
|
|
||||||
Available-for-sale securities
|
4.3
|
|
|
|
|
|
|
4.3
|
|
||||||
Foreign currency derivatives
|
|
|
$
|
0.2
|
|
|
|
|
0.2
|
|
|||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Interest rate and foreign currency derivatives
|
|
|
$
|
48.9
|
|
|
|
|
$
|
48.9
|
|
||||
Contingent purchase price obligations
|
|
|
|
|
$
|
386.1
|
|
|
386.1
|
|
|
2017
|
|
2016
|
||||
January 1
|
$
|
386.1
|
|
|
$
|
322.0
|
|
Acquisitions
|
31.9
|
|
|
165.3
|
|
||
Revaluation and interest
|
(27.4
|
)
|
|
18.0
|
|
||
Payments
|
(187.0
|
)
|
|
(103.7
|
)
|
||
Foreign currency translation
|
12.0
|
|
|
(15.5
|
)
|
||
December 31
|
$
|
215.6
|
|
|
$
|
386.1
|
|
|
2017
|
|
2016
|
||||||||||||
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
3,796.0
|
|
|
$
|
3,796.0
|
|
|
$
|
3,002.2
|
|
|
$
|
3,002.2
|
|
Short-term investments
|
0.4
|
|
|
0.4
|
|
|
20.6
|
|
|
20.6
|
|
||||
Available-for-sale securities
|
1.4
|
|
|
1.4
|
|
|
4.3
|
|
|
4.3
|
|
||||
Foreign currency derivatives
|
1.0
|
|
|
1.0
|
|
|
0.2
|
|
|
0.2
|
|
||||
Cost method investments
|
14.4
|
|
|
14.4
|
|
|
14.2
|
|
|
14.2
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Short-term debt
|
$
|
11.8
|
|
|
$
|
11.8
|
|
|
$
|
28.7
|
|
|
$
|
28.7
|
|
Interest rate and foreign currency derivatives
|
39.5
|
|
|
39.5
|
|
|
48.9
|
|
|
48.9
|
|
||||
Contingent purchase price obligations
|
215.6
|
|
|
215.6
|
|
|
386.1
|
|
|
386.1
|
|
||||
Long-term debt, including current portion
|
4,912.9
|
|
|
5,056.9
|
|
|
4,920.6
|
|
|
5,035.1
|
|
|
Quarter
|
||||||||||||||
|
First
|
|
Second
|
|
Third
|
|
Fourth
|
||||||||
Revenue
|
|
|
|
|
|
|
|
||||||||
2017
|
$
|
3,587.4
|
|
|
$
|
3,790.1
|
|
|
$
|
3,719.5
|
|
|
$
|
4,176.6
|
|
2016
|
3,499.1
|
|
|
3,884.9
|
|
|
3,791.1
|
|
|
4,241.8
|
|
||||
Operating Expenses
|
|
|
|
|
|
|
|
||||||||
2017
|
3,177.5
|
|
|
3,224.6
|
|
|
3,255.3
|
|
|
3,556.5
|
|
||||
2016
|
3,107.0
|
|
|
3,323.1
|
|
|
3,338.0
|
|
|
3,639.9
|
|
||||
Operating Profit
|
|
|
|
|
|
|
|
||||||||
2017
|
409.9
|
|
|
565.5
|
|
|
464.2
|
|
|
620.1
|
|
||||
2016
|
392.1
|
|
|
561.8
|
|
|
453.1
|
|
|
601.9
|
|
||||
Net Income - Omnicom Group Inc.
|
|
|
|
|
|
|
|
||||||||
2017
|
241.8
|
|
|
328.6
|
|
|
263.6
|
|
|
254.4
|
|
||||
2016
|
218.4
|
|
|
326.1
|
|
|
253.8
|
|
|
350.3
|
|
||||
Net Income Per Share Omnicom Group Inc. - Basic
|
|
|
|
|
|
|
|
||||||||
2017
|
1.03
|
|
|
1.41
|
|
|
1.14
|
|
|
1.10
|
|
||||
2016
|
0.90
|
|
|
1.36
|
|
|
1.06
|
|
|
1.47
|
|
||||
Net Income Per Share Omnicom Group Inc. - Diluted
|
|
|
|
|
|
|
|
||||||||
2017
|
1.02
|
|
|
1.40
|
|
|
1.13
|
|
|
1.09
|
|
||||
2016
|
0.90
|
|
|
1.36
|
|
|
1.06
|
|
|
1.47
|
|
Description
|
Balance
Beginning
of Period
|
|
Charged
to Costs
and Expenses
|
|
Removal of
Uncollectible
Receivables
|
|
Translation
Adjustment
Increase (Decrease)
|
|
Balance
End of
Period
|
||||||||||
Valuation accounts deducted from assets:
|
|
|
|
|
|
|
|
|
|
||||||||||
Allowance for Doubtful Accounts:
|
|
|
|
|
|
|
|
|
|
||||||||||
December 31, 2017
|
$
|
24.9
|
|
|
$
|
15.1
|
|
|
$
|
(8.2
|
)
|
|
$
|
0.3
|
|
|
$
|
32.1
|
|
December 31, 2016
|
22.5
|
|
|
10.2
|
|
|
(7.4
|
)
|
|
(0.4
|
)
|
|
24.9
|
|
|||||
December 31, 2015
|
24.9
|
|
|
4.4
|
|
|
(5.4
|
)
|
|
(1.4
|
)
|
|
22.5
|
|
1 Year Omnicom Chart |
1 Month Omnicom Chart |
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