Consolidated Statements of Cash Flows - USD ($)
$ in Millions |
3 Months Ended |
Mar. 31, 2017 |
Mar. 31, 2016 |
| CASH FLOWS FROM OPERATING ACTIVITIES: |
|
|
| NET INCOME |
$ 18.1
|
$ 2.7
|
| Adjustments to reconcile net income to net cash used in operating activities: |
|
|
| Depreciation and amortization of fixed assets and intangible assets |
41.0
|
38.0
|
| Provision for uncollectible receivables |
5.9
|
3.2
|
| Amortization of restricted stock and other non-cash compensation |
29.7
|
23.1
|
| Net amortization of bond discounts and deferred financing costs |
1.4
|
1.4
|
| Deferred income tax benefit |
(13.8)
|
(28.1)
|
| (Gains) losses on sales of businesses |
(0.9)
|
16.3
|
| Other |
6.7
|
25.5
|
| Changes in assets and liabilities, net of acquisitions and dispositions, providing (using) cash: |
|
|
| Accounts receivable |
806.6
|
686.5
|
| Expenditures billable to clients |
(206.3)
|
(137.3)
|
| Other current assets |
(71.6)
|
(60.4)
|
| Accounts payable |
(702.5)
|
(984.7)
|
| Accrued liabilities |
(264.9)
|
(198.8)
|
| Other non-current assets and liabilities |
(21.2)
|
(41.0)
|
| Net cash used in operating activities |
(371.8)
|
(653.6)
|
| CASH FLOWS FROM INVESTING ACTIVITIES: |
|
|
| Capital expenditures |
(24.8)
|
(27.0)
|
| Acquisitions, net of cash acquired |
(3.3)
|
(27.0)
|
| Other investing activities |
(5.1)
|
(5.5)
|
| Net cash used in investing activities |
(33.2)
|
(59.5)
|
| CASH FLOWS FROM FINANCING ACTIVITIES: |
|
|
| Net increase (decrease) in short-term borrowings |
224.8
|
(19.7)
|
| Exercise of stock options |
8.2
|
3.9
|
| Common stock dividends |
(70.9)
|
(59.9)
|
| Repurchase of common stock |
(55.0)
|
(53.7)
|
| Tax payments for employee shares withheld |
(36.7)
|
(20.8)
|
| Distributions to noncontrolling interests |
(6.0)
|
(4.0)
|
| Other financing activities |
0.0
|
(0.1)
|
| Net cash provided by (used in) financing activities |
64.4
|
(154.3)
|
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash |
20.0
|
36.7
|
| Net decrease in cash, cash equivalents and restricted cash |
(320.6)
|
(830.7)
|
| Cash, cash equivalents and restricted cash at beginning of period |
1,100.2
|
1,506.1
|
| Cash, cash equivalents and restricted cash at the end of period |
$ 779.6
|
$ 675.4
|