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)
|
Large accelerated filer
þ
|
Accelerated filer
o
|
Non-accelerated filer
o
|
Smaller reporting company
o
|
|
Emerging growth company
o
|
PART I.
|
FINANCIAL INFORMATION
|
Page
|
Item 1.
|
|
|
|
Consolidated Balance Sheets - March 31, 2019 and December 31, 2018
|
|
|
Consolidated Statements of Income - Three months ended March 31, 2019 and 2018
|
|
|
Consolidated Statements of Comprehensive Income - Three months ended March 31, 2019 and 2018
|
|
|
Consolidated Statements of Equity - Three months ended March 31, 2019 and 2018
|
|
|
Consolidated Statements of Cash Flows - Three months ended March 31, 2019 and 2018
|
|
|
Notes to Con
solidated Financial Statements
|
|
Item 2.
|
||
Item 3.
|
||
Item 4.
|
||
|
|
|
PART II.
|
OTHER INFORMATION
|
|
Item 1.
|
||
Item 1A.
|
||
Item 2.
|
||
Item 6.
|
||
|
|
|
SIGNATURES
|
|
|
March 31, 2019
|
|
December 31, 2018
|
||||
|
(Unaudited)
|
|
|
||||
ASSETS
|
|
|
|
||||
Current Assets:
|
|
|
|
||||
Cash and cash equivalents
|
$
|
3,449.7
|
|
|
$
|
3,652.4
|
|
Short-term investments, at cost
|
5.4
|
|
|
5.5
|
|
||
Accounts receivable, net of allowance for doubtful accounts of $25.2 and $26.8
|
7,036.7
|
|
|
7,666.1
|
|
||
Work in process
|
1,314.4
|
|
|
1,161.5
|
|
||
Other current assets
|
1,266.0
|
|
|
1,241.4
|
|
||
Total Current Assets
|
13,072.2
|
|
|
13,726.9
|
|
||
Property and Equipment at cost, less accumulated depreciation of $1,150.4 and $1,185.0
|
686.4
|
|
|
694.4
|
|
||
Operating Lease Right-Of-Use Assets
|
1,298.8
|
|
|
—
|
|
||
Equity Method Investments
|
118.4
|
|
|
120.9
|
|
||
Goodwill
|
9,378.8
|
|
|
9,384.3
|
|
||
Intangible Assets, net of accumulated amortization of $739.4 and $737.4
|
367.9
|
|
|
382.8
|
|
||
Other Assets
|
288.7
|
|
|
307.7
|
|
||
TOTAL ASSETS
|
$
|
25,211.2
|
|
|
$
|
24,617.0
|
|
LIABILITIES AND EQUITY
|
|
|
|
||||
Current Liabilities:
|
|
|
|
||||
Accounts payable
|
$
|
10,342.9
|
|
|
$
|
11,464.3
|
|
Customer advances
|
1,104.1
|
|
|
1,159.0
|
|
||
Current portion of debt
|
499.8
|
|
|
499.6
|
|
||
Short-term debt
|
595.4
|
|
|
8.1
|
|
||
Taxes payable
|
184.5
|
|
|
180.6
|
|
||
Other current liabilities
|
2,186.4
|
|
|
1,958.6
|
|
||
Total Current Liabilities
|
14,913.1
|
|
|
15,270.2
|
|
||
Long-Term Liabilities
|
1,027.1
|
|
|
1,197.8
|
|
||
Long-Term Liability - Operating Leases
|
1,218.0
|
|
|
—
|
|
||
Long-Term Debt
|
4,402.0
|
|
|
4,384.1
|
|
||
Deferred Tax Liabilities
|
418.9
|
|
|
413.7
|
|
||
Commitments and Contingent Liabilities (Note 13)
|
|
|
|
|
|||
Temporary Equity - Redeemable Noncontrolling Interests
|
262.5
|
|
|
244.3
|
|
||
Equity:
|
|
|
|
||||
Shareholders’ Equity:
|
|
|
|
||||
Preferred stock
|
—
|
|
|
—
|
|
||
Common stock
|
44.6
|
|
|
44.6
|
|
||
Additional paid-in capital
|
718.0
|
|
|
728.8
|
|
||
Retained earnings
|
7,157.0
|
|
|
7,016.1
|
|
||
Accumulated other comprehensive income (loss)
|
(1,218.0
|
)
|
|
(1,228.5
|
)
|
||
Treasury stock, at cost
|
(4,288.3
|
)
|
|
(4,013.9
|
)
|
||
Total Shareholders’ Equity
|
2,413.3
|
|
|
2,547.1
|
|
||
Noncontrolling interests
|
556.3
|
|
|
559.8
|
|
||
Total Equity
|
2,969.6
|
|
|
3,106.9
|
|
||
TOTAL LIABILITIES AND EQUITY
|
$
|
25,211.2
|
|
|
$
|
24,617.0
|
|
|
Three Months Ended March 31,
|
||||||
|
2019
|
|
2018
|
||||
Revenue
|
$
|
3,468.9
|
|
|
$
|
3,629.6
|
|
Operating Expenses:
|
|
|
|
||||
Salary and service costs
|
2,567.6
|
|
|
2,712.8
|
|
||
Occupancy and other costs
|
309.2
|
|
|
320.3
|
|
||
Cost of services
|
2,876.8
|
|
|
3,033.1
|
|
||
Selling, general and administrative expenses
|
103.6
|
|
|
105.4
|
|
||
Depreciation and amortization
|
59.6
|
|
|
69.4
|
|
||
|
3,040.0
|
|
|
3,207.9
|
|
||
Operating Profit
|
428.9
|
|
|
421.7
|
|
||
Interest Expense
|
63.0
|
|
|
62.3
|
|
||
Interest Income
|
17.0
|
|
|
15.4
|
|
||
Income Before Income Taxes and Income (Loss) From Equity Method Investments
|
382.9
|
|
|
374.8
|
|
||
Income Tax Expense
|
102.7
|
|
|
90.9
|
|
||
Income (Loss) From Equity Method Investments
|
(0.5
|
)
|
|
0.8
|
|
||
Net Income
|
279.7
|
|
|
284.7
|
|
||
Net Income Attributed To Noncontrolling Interests
|
16.5
|
|
|
20.6
|
|
||
Net Income - Omnicom Group Inc.
|
$
|
263.2
|
|
|
$
|
264.1
|
|
Net Income Per Share - Omnicom Group Inc.:
|
|
|
|
||||
Basic
|
$
|
1.18
|
|
|
$
|
1.15
|
|
Diluted
|
$
|
1.17
|
|
|
$
|
1.14
|
|
|
|
|
|
||||
Dividends Declared Per Common Share
|
$
|
0.65
|
|
|
$
|
0.60
|
|
|
Three Months Ended March 31,
|
||||||
|
2019
|
|
2018
|
||||
Net Income
|
$
|
279.7
|
|
|
$
|
284.7
|
|
Other Comprehensive Income:
|
|
|
|
||||
Cash flow hedge:
|
|
|
|
||||
Amortization of loss included in interest expense
|
1.4
|
|
|
1.4
|
|
||
Income tax effect
|
(0.4
|
)
|
|
(0.4
|
)
|
||
|
1.0
|
|
|
1.0
|
|
||
Defined benefit pension plans and postemployment arrangements:
|
|
|
|
||||
Amortization of prior service cost
|
1.3
|
|
|
2.0
|
|
||
Amortization of actuarial losses
|
0.5
|
|
|
2.0
|
|
||
Income tax effect
|
(0.7
|
)
|
|
(1.1
|
)
|
||
|
1.1
|
|
|
2.9
|
|
||
Available-for-sale securities:
|
|
|
|
||||
Reclassification
|
—
|
|
|
0.3
|
|
||
|
—
|
|
|
0.3
|
|
||
|
|
|
|
||||
Foreign currency translation adjustment
|
31.7
|
|
|
88.7
|
|
||
|
|
|
|
||||
Other Comprehensive Income
|
33.8
|
|
|
92.9
|
|
||
|
|
|
|
||||
Comprehensive Income
|
313.5
|
|
|
377.6
|
|
||
Comprehensive Income Attributed To Noncontrolling Interests
|
17.5
|
|
|
25.6
|
|
||
Comprehensive Income - Omnicom Group Inc.
|
$
|
296.0
|
|
|
$
|
352.0
|
|
|
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, 2018
|
297.2
|
|
|
$
|
44.6
|
|
|
$
|
728.8
|
|
|
$
|
7,016.1
|
|
|
$
|
(1,228.5
|
)
|
|
$
|
(4,013.9
|
)
|
|
$
|
2,547.1
|
|
|
$
|
559.8
|
|
|
$
|
3,106.9
|
|
Cumulative effect of accounting change
|
|
|
|
|
|
|
22.3
|
|
|
(22.3
|
)
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||||
Net income
|
|
|
|
|
|
|
263.2
|
|
|
|
|
|
|
263.2
|
|
|
16.5
|
|
|
279.7
|
|
|||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
32.8
|
|
|
|
|
32.8
|
|
|
1.0
|
|
|
33.8
|
|
|||||||||||||
Dividends to noncontrolling interests
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(17.0
|
)
|
|
(17.0
|
)
|
|||||||||||||||
Acquisition of noncontrolling interests
|
|
|
|
|
0.4
|
|
|
|
|
|
|
|
|
0.4
|
|
|
(5.0
|
)
|
|
(4.6
|
)
|
|||||||||||||
Increase in noncontrolling interests from business combinations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1.0
|
|
|
1.0
|
|
|||||||||||||||
Change in temporary equity
|
|
|
|
|
(18.2
|
)
|
|
|
|
|
|
|
|
(18.2
|
)
|
|
|
|
(18.2
|
)
|
||||||||||||||
Common stock dividends declared ($0.65 per share)
|
|
|
|
|
|
|
(144.6
|
)
|
|
|
|
|
|
(144.6
|
)
|
|
|
|
|
(144.6
|
)
|
|||||||||||||
Share-based compensation
|
|
|
|
|
16.8
|
|
|
|
|
|
|
|
|
16.8
|
|
|
|
|
|
16.8
|
|
|||||||||||||
Stock issued, share-based compensation
|
|
|
|
|
(9.8
|
)
|
|
|
|
|
|
11.7
|
|
|
1.9
|
|
|
|
|
|
1.9
|
|
||||||||||||
Common stock repurchased
|
|
|
|
|
|
|
|
|
|
|
(286.1
|
)
|
|
(286.1
|
)
|
|
|
|
|
(286.1
|
)
|
|||||||||||||
Balance as of March 31, 2019
|
297.2
|
|
|
$
|
44.6
|
|
|
$
|
718.0
|
|
|
$
|
7,157.0
|
|
|
$
|
(1,218.0
|
)
|
|
$
|
(4,288.3
|
)
|
|
$
|
2,413.3
|
|
|
$
|
556.3
|
|
|
$
|
2,969.6
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||
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
|
|
Cumulative effect of accounting changes
|
|
|
|
|
|
|
23.6
|
|
|
|
|
|
|
23.6
|
|
|
0.4
|
|
|
24.0
|
|
|||||||||||||
Net income
|
|
|
|
|
|
|
264.1
|
|
|
|
|
|
|
264.1
|
|
|
20.6
|
|
|
284.7
|
|
|||||||||||||
Other comprehensive income (loss)
|
|
|
|
|
|
|
|
|
87.9
|
|
|
|
|
87.9
|
|
|
5.0
|
|
|
92.9
|
|
|||||||||||||
Dividends to noncontrolling interests
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(16.3
|
)
|
|
(16.3
|
)
|
|||||||||||||||
Acquisition of noncontrolling interests
|
|
|
|
|
(22.8
|
)
|
|
|
|
|
|
|
|
(22.8
|
)
|
|
(11.7
|
)
|
|
(34.5
|
)
|
|||||||||||||
Increase in noncontrolling interests from business combinations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
55.3
|
|
|
55.3
|
|
|||||||||||||||
Change in temporary equity
|
|
|
|
|
9.1
|
|
|
|
|
|
|
|
|
9.1
|
|
|
|
|
9.1
|
|
||||||||||||||
Common stock dividends declared ($0.60 per share)
|
|
|
|
|
|
|
(138.2
|
)
|
|
|
|
|
|
(138.2
|
)
|
|
|
|
(138.2
|
)
|
||||||||||||||
Share-based compensation
|
|
|
|
|
17.5
|
|
|
|
|
|
|
|
|
17.5
|
|
|
|
|
17.5
|
|
||||||||||||||
Stock issued, share-based compensation
|
|
|
|
|
0.9
|
|
|
|
|
|
|
1.9
|
|
|
2.8
|
|
|
|
|
2.8
|
|
|||||||||||||
Common stock repurchased
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(232.7
|
)
|
|
(232.7
|
)
|
|
|
|
(232.7
|
)
|
|||||||||||
Balance as of March 31, 2018
|
297.2
|
|
|
$
|
44.6
|
|
|
$
|
833.0
|
|
|
$
|
6,360.1
|
|
|
$
|
(875.1
|
)
|
|
$
|
(3,736.2
|
)
|
|
$
|
2,626.4
|
|
|
$
|
590.4
|
|
|
$
|
3,216.8
|
|
|
Three Months Ended March 31,
|
||||||
|
2019
|
|
2018
|
||||
Cash Flows from Operating Activities:
|
|
|
|
||||
Net income
|
$
|
279.7
|
|
|
$
|
284.7
|
|
Adjustments to reconcile net income to net cash used in operating activities:
|
|
|
|
||||
Depreciation and amortization of right-of-use assets
|
38.0
|
|
|
41.9
|
|
||
Amortization of intangible assets
|
21.6
|
|
|
27.5
|
|
||
Amortization of net deferred gain on interest rate swaps
|
(3.2
|
)
|
|
(3.2
|
)
|
||
Share-based compensation
|
16.8
|
|
|
17.5
|
|
||
Other, net
|
(12.2
|
)
|
|
6.9
|
|
||
Use of operating capital
|
(736.3
|
)
|
|
(996.1
|
)
|
||
Net Cash Used In Operating Activities
|
(395.6
|
)
|
|
(620.8
|
)
|
||
Cash Flows from Investing Activities:
|
|
|
|
||||
Capital expenditures
|
(27.2
|
)
|
|
(36.2
|
)
|
||
Acquisition of businesses and interests in affiliates, net of cash acquired
|
(0.7
|
)
|
|
(178.3
|
)
|
||
Proceeds from disposition of subsidiaries and sale of investments
|
64.9
|
|
|
7.0
|
|
||
Net Cash Provided By (Used In) Investing Activities
|
37.0
|
|
|
(207.5
|
)
|
||
Cash Flows from Financing Activities:
|
|
|
|
||||
Change in short-term debt
|
587.1
|
|
|
(3.6
|
)
|
||
Dividends paid to common shareholders
|
(134.8
|
)
|
|
(138.9
|
)
|
||
Repurchases of common stock
|
(286.1
|
)
|
|
(232.7
|
)
|
||
Proceeds from stock plans
|
2.0
|
|
|
3.3
|
|
||
Acquisition of additional noncontrolling interests
|
(2.7
|
)
|
|
(23.0
|
)
|
||
Dividends paid to noncontrolling interest shareholders
|
(17.0
|
)
|
|
(16.3
|
)
|
||
Payment of contingent purchase price obligations
|
(3.8
|
)
|
|
(5.2
|
)
|
||
Other, net
|
(12.4
|
)
|
|
(10.5
|
)
|
||
Net Cash Provided By (Used In) Financing Activities
|
132.3
|
|
|
(426.9
|
)
|
||
Effect of foreign exchange rate changes on cash and cash equivalents
|
23.6
|
|
|
27.3
|
|
||
|
|
|
|
||||
Net Decrease in Cash and Cash Equivalents
|
(202.7
|
)
|
|
(1,227.9
|
)
|
||
Cash and Cash Equivalents at the Beginning of Period
|
3,652.4
|
|
|
3,796.0
|
|
||
Cash and Cash Equivalents at the End of Period
|
$
|
3,449.7
|
|
|
$
|
2,568.1
|
|
|
As Reported December 31, 2018
|
|
Adoption of
ASC 842
Increase (Decrease)
|
|
Balance
January 1, 2019
|
||||||
Other current assets
|
$
|
1,241.4
|
|
|
$
|
(29.2
|
)
|
|
$
|
1,212.2
|
|
Operating lease right-of-use assets
|
—
|
|
|
1,306.5
|
|
|
1,306.5
|
|
|||
Total assets
|
24,617.0
|
|
|
1,277.3
|
|
|
25,894.3
|
|
|||
Other current liabilities
|
1,958.6
|
|
|
172.5
|
|
|
2,131.1
|
|
|||
Long-term liability - Operating leases
|
—
|
|
|
1,258.5
|
|
|
1,258.5
|
|
|||
Long-term liabilities
|
1,197.8
|
|
|
(153.7
|
)
|
|
1,044.1
|
|
|||
Total liabilities and equity
|
24,617.0
|
|
|
1,277.3
|
|
|
25,894.3
|
|
|
2019
|
|
2018
|
||||
Advertising
|
$
|
1,921.3
|
|
|
$
|
1,901.3
|
|
CRM Consumer Experience
|
605.8
|
|
|
634.9
|
|
||
CRM Execution & Support
|
349.5
|
|
|
508.6
|
|
||
Public Relations
|
334.2
|
|
|
346.3
|
|
||
Healthcare
|
258.1
|
|
|
238.5
|
|
||
|
$
|
3,468.9
|
|
|
$
|
3,629.6
|
|
|
2019
|
|
2018
|
||||
Americas:
|
|
|
|
||||
North America
|
$
|
1,989.2
|
|
|
$
|
1,985.7
|
|
Latin America
|
89.0
|
|
|
108.4
|
|
||
EMEA:
|
|
|
|
||||
Europe
|
945.5
|
|
|
1,070.1
|
|
||
Middle East and Africa
|
79.0
|
|
|
73.4
|
|
||
Asia-Pacific
|
366.2
|
|
|
392.0
|
|
||
|
$
|
3,468.9
|
|
|
$
|
3,629.6
|
|
|
March 31, 2019
|
|
December 31, 2018
|
|
March 31, 2018
|
||||||
Work in process:
|
|
|
|
|
|
||||||
Contract assets and unbilled fees and costs
|
$
|
755.5
|
|
|
$
|
540.1
|
|
|
$
|
782.9
|
|
Media and production costs
|
558.9
|
|
|
621.4
|
|
|
595.1
|
|
|||
|
$
|
1,314.4
|
|
|
$
|
1,161.5
|
|
|
$
|
1,378.0
|
|
Contract liabilities:
|
|
|
|
|
|
||||||
Customer advances
|
$
|
1,104.1
|
|
|
$
|
1,159.0
|
|
|
$
|
1,214.3
|
|
|
2019
|
|
2018
|
||||
Net Income Available for Common Shares:
|
|
|
|
||||
Net income - Omnicom Group Inc.
|
$
|
263.2
|
|
|
$
|
264.1
|
|
Weighted Average Shares:
|
|
|
|
||||
Basic
|
223.2
|
|
|
230.2
|
|
||
Dilutive stock options and restricted shares
|
1.0
|
|
|
1.3
|
|
||
Diluted
|
224.2
|
|
|
231.5
|
|
||
|
|
|
|
||||
Anti-dilutive stock options and restricted shares
|
0.9
|
|
|
1.0
|
|
||
Net Income per Share - Omnicom Group Inc.:
|
|
|
|
||||
Basic
|
$
|
1.18
|
|
|
$
|
1.15
|
|
Diluted
|
$
|
1.17
|
|
|
$
|
1.14
|
|
|
2019
|
|
2018
|
||||||||||||||||||||
|
Gross
Carrying
Value
|
|
Accumulated
Amortization
|
|
Net
Carrying
Value
|
|
Gross
Carrying
Value
|
|
Accumulated
Amortization
|
|
Net
Carrying
Value
|
||||||||||||
Goodwill
|
$
|
9,893.3
|
|
|
$
|
(514.5
|
)
|
|
$
|
9,378.8
|
|
|
$
|
9,898.6
|
|
|
$
|
(514.3
|
)
|
|
$
|
9,384.3
|
|
Intangible assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Purchased and internally developed software
|
$
|
355.9
|
|
|
$
|
(303.3
|
)
|
|
$
|
52.6
|
|
|
$
|
356.4
|
|
|
$
|
(302.2
|
)
|
|
$
|
54.2
|
|
Customer related and other
|
751.4
|
|
|
(436.1
|
)
|
|
315.3
|
|
|
763.8
|
|
|
(435.2
|
)
|
|
328.6
|
|
||||||
|
$
|
1,107.3
|
|
|
$
|
(739.4
|
)
|
|
$
|
367.9
|
|
|
$
|
1,120.2
|
|
|
$
|
(737.4
|
)
|
|
$
|
382.8
|
|
|
2019
|
|
2018
|
||||
January 1
|
$
|
9,384.3
|
|
|
$
|
9,337.5
|
|
Acquisitions
|
0.5
|
|
|
113.0
|
|
||
Noncontrolling interests in acquired businesses
|
0.8
|
|
|
55.3
|
|
||
Contingent purchase price of acquired businesses
|
0.2
|
|
|
57.3
|
|
||
Dispositions
|
(19.0
|
)
|
|
(0.3
|
)
|
||
Foreign currency translation
|
12.0
|
|
|
72.6
|
|
||
March 31
|
$
|
9,378.8
|
|
|
$
|
9,635.4
|
|
|
2019
|
|
2018
|
||||
Credit Facility
|
$
|
2,500.0
|
|
|
$
|
2,500.0
|
|
Uncommitted credit lines
|
1,479.3
|
|
|
1,231.6
|
|
||
Available and unused credit lines
|
$
|
3,979.3
|
|
|
$
|
3,731.6
|
|
|
2019
|
|
2018
|
||||
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
|
|
||
|
4,900.0
|
|
|
4,900.0
|
|
||
Unamortized premium (discount), net
|
4.6
|
|
|
4.9
|
|
||
Unamortized debt issuance costs
|
(15.4
|
)
|
|
(16.4
|
)
|
||
Unamortized deferred gain from settlement of interest rate swaps
|
43.4
|
|
|
48.0
|
|
||
Fair value adjustment attributed to outstanding interest rate swaps
|
(30.8
|
)
|
|
(52.8
|
)
|
||
|
4,901.8
|
|
|
4,883.7
|
|
||
Current portion
|
(499.8
|
)
|
|
(499.6
|
)
|
||
Long-term debt
|
$
|
4,402.0
|
|
|
$
|
4,384.1
|
|
|
Americas
|
|
EMEA
|
|
Asia-Pacific
|
||||||
2019
|
|
|
|
|
|
||||||
Revenue
|
$
|
2,078.2
|
|
|
$
|
1,024.5
|
|
|
$
|
366.2
|
|
Long-lived assets and goodwill
|
7,703.9
|
|
|
3,004.3
|
|
|
655.8
|
|
|||
2018
|
|
|
|
|
|
||||||
Revenue
|
$
|
2,094.1
|
|
|
$
|
1,143.5
|
|
|
$
|
392.0
|
|
Long-lived assets and goodwill
|
6,838.3
|
|
|
2,941.3
|
|
|
547.5
|
|
|
2019
|
|
2018
|
||||
Service cost
|
$
|
2.3
|
|
|
$
|
2.0
|
|
Interest cost
|
1.6
|
|
|
1.9
|
|
||
Expected return on plan assets
|
(0.4
|
)
|
|
(0.7
|
)
|
||
Amortization of prior service cost
|
0.2
|
|
|
1.1
|
|
||
Amortization of actuarial losses
|
0.3
|
|
|
1.6
|
|
||
|
$
|
4.0
|
|
|
$
|
5.9
|
|
|
2019
|
|
2018
|
||||
Service cost
|
$
|
1.1
|
|
|
$
|
1.2
|
|
Interest cost
|
1.1
|
|
|
1.0
|
|
||
Amortization of prior service cost
|
1.1
|
|
|
0.9
|
|
||
Amortization of actuarial losses
|
0.2
|
|
|
0.4
|
|
||
|
$
|
3.5
|
|
|
$
|
3.5
|
|
|
2019
|
|
2018
|
||||
(Increase) decrease in accounts receivable
|
$
|
626.8
|
|
|
$
|
973.2
|
|
(Increase) decrease in work in process and other current assets
|
(214.2
|
)
|
|
(271.9
|
)
|
||
Increase (decrease) in accounts payable
|
(1,141.9
|
)
|
|
(1,522.1
|
)
|
||
Increase (decrease) in customer advances, taxes payable and other current liabilities
|
(15.8
|
)
|
|
(181.3
|
)
|
||
Change in other assets and liabilities, net
|
8.8
|
|
|
6.0
|
|
||
|
$
|
(736.3
|
)
|
|
$
|
(996.1
|
)
|
|
|
|
|
||||
Income taxes paid
|
$
|
63.5
|
|
|
$
|
83.2
|
|
Interest paid
|
$
|
59.4
|
|
|
$
|
55.8
|
|
|
Operating Leases
|
|
Finance
Leases
|
||||
Net increase in lease liability
|
$
|
1,505.9
|
|
|
$
|
14.1
|
|
Operating leases:
|
|
||
Lease cost
|
$
|
75.5
|
|
Variable lease cost
|
10.1
|
|
|
Sublease income
|
(1.3
|
)
|
|
Operating lease expense
|
84.3
|
|
|
|
|
||
Short-term lease rent expense
|
1.4
|
|
|
|
|
||
Finance leases:
|
|
||
Amortization of right-of-use use assets
|
10.2
|
|
|
Interest on lease liability
|
1.2
|
|
|
|
11.4
|
|
|
|
|
||
Total lease cost
|
$
|
97.1
|
|
|
Real Estate
|
|
Equipment
|
|
Total
|
||||||
Operating leases
|
$
|
1,274.2
|
|
|
$
|
24.6
|
|
|
$
|
1,298.8
|
|
Finance leases
|
—
|
|
|
127.6
|
|
|
127.6
|
|
|
Operating Leases
|
|
Finance Leases
|
||
Weighted average remaining lease term (years)
|
8.4
|
|
3.2
|
||
Weighted average discount rate
|
3.9
|
%
|
|
4.0
|
%
|
|
Operating Leases
|
|
Finance Leases
|
||||
2019 Remainder
|
$
|
232.2
|
|
|
$
|
32.9
|
|
2020
|
274.7
|
|
|
40.6
|
|
||
2021
|
234.8
|
|
|
31.9
|
|
||
2022
|
189.1
|
|
|
18.3
|
|
||
2023
|
148.0
|
|
|
8.1
|
|
||
2024
|
130.7
|
|
|
3.5
|
|
||
Thereafter
|
540.1
|
|
|
1.8
|
|
||
Total undiscounted lease payments
|
1,749.6
|
|
|
137.1
|
|
||
Less: Imputed interest
|
275.6
|
|
|
6.8
|
|
||
Present value of lease payments
|
$
|
1,474.0
|
|
|
$
|
130.3
|
|
|
|
|
|
||||
Other current liabilities
|
$
|
256.0
|
|
|
$
|
40.5
|
|
Long-term liability - Operating leases
|
1,218.0
|
|
|
—
|
|
||
Long-term liabilities
|
—
|
|
|
89.8
|
|
2019
|
Cash Flow Hedge
|
|
Available-for-Sale Securities
|
|
Defined Benefit Pension Plans and Postemployment Arrangements
|
|
Foreign
Currency Translation
|
|
Total
|
||||||||||
January 1
|
$
|
(22.3
|
)
|
|
$
|
—
|
|
|
$
|
(69.3
|
)
|
|
$
|
(1,136.9
|
)
|
|
$
|
(1,228.5
|
)
|
Cumulative effect of accounting change
|
(5.6
|
)
|
|
—
|
|
|
(16.7
|
)
|
|
—
|
|
|
(22.3
|
)
|
|||||
Other comprehensive income (loss) before reclassifications
|
—
|
|
|
—
|
|
|
—
|
|
|
30.7
|
|
|
30.7
|
|
|||||
Reclassification from accumulated other comprehensive income (loss)
|
1.0
|
|
|
—
|
|
|
1.1
|
|
|
—
|
|
|
2.1
|
|
|||||
March 31
|
$
|
(26.9
|
)
|
|
$
|
—
|
|
|
$
|
(84.9
|
)
|
|
$
|
(1,106.2
|
)
|
|
$
|
(1,218.0
|
)
|
2018
|
|
|
|
|
|
|
|
|
|
||||||||||
January 1
|
$
|
(26.3
|
)
|
|
$
|
(0.3
|
)
|
|
$
|
(88.4
|
)
|
|
$
|
(848.0
|
)
|
|
$
|
(963.0
|
)
|
Other comprehensive income (loss) before reclassifications
|
—
|
|
|
—
|
|
|
—
|
|
|
83.7
|
|
|
83.7
|
|
|||||
Reclassification from accumulated other comprehensive income (loss)
|
1.0
|
|
|
0.3
|
|
|
2.9
|
|
|
—
|
|
|
4.2
|
|
|||||
March 31
|
$
|
(25.3
|
)
|
|
$
|
—
|
|
|
$
|
(85.5
|
)
|
|
$
|
(764.3
|
)
|
|
$
|
(875.1
|
)
|
2019
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
3,449.7
|
|
|
|
|
|
|
|
$
|
3,449.7
|
|
|||
Short-term investments
|
5.4
|
|
|
|
|
|
|
|
5.4
|
|
|||||
Marketable equity investments
|
1.6
|
|
|
|
|
|
|
1.6
|
|
||||||
Foreign currency derivative instruments
|
|
|
$
|
0.4
|
|
|
|
|
0.4
|
|
|||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
|
|||||
Interest rate and foreign currency derivative instruments
|
|
|
$
|
31.1
|
|
|
|
|
$
|
31.1
|
|
||||
Contingent purchase price obligations
|
|
|
|
|
$
|
146.7
|
|
|
146.7
|
|
2018
|
|
|
|
|
|
|
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
3,652.4
|
|
|
|
|
|
|
|
$
|
3,652.4
|
|
|||
Short-term investments
|
5.5
|
|
|
|
|
|
|
|
5.5
|
|
|||||
Marketable equity investments
|
1.5
|
|
|
|
|
|
|
|
1.5
|
|
|||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Interest rate and foreign currency derivative instruments
|
|
|
$
|
52.9
|
|
|
|
|
$
|
52.9
|
|
||||
Contingent purchase price obligations
|
|
|
|
|
$
|
146.5
|
|
|
146.5
|
|
|
2019
|
|
2018
|
||||
January 1
|
$
|
146.5
|
|
|
$
|
215.6
|
|
Acquisitions
|
1.8
|
|
|
68.1
|
|
||
Revaluation and interest
|
1.2
|
|
|
1.1
|
|
||
Payments
|
(2.5
|
)
|
|
(5.2
|
)
|
||
Foreign currency translation
|
(0.3
|
)
|
|
2.1
|
|
||
March 31
|
$
|
146.7
|
|
|
$
|
281.7
|
|
|
2019
|
|
2018
|
||||||||||||
|
Carrying
Amount
|
|
Fair
Value
|
|
Carrying
Amount
|
|
Fair
Value
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Cash and cash equivalents
|
$
|
3,449.7
|
|
|
$
|
3,449.7
|
|
|
$
|
3,652.4
|
|
|
$
|
3,652.4
|
|
Short-term investments
|
5.4
|
|
|
5.4
|
|
|
5.5
|
|
|
5.5
|
|
||||
Marketable equity investments
|
1.6
|
|
|
1.6
|
|
|
1.5
|
|
|
1.5
|
|
||||
Foreign currency derivative instruments
|
0.4
|
|
|
0.4
|
|
|
—
|
|
|
—
|
|
||||
Non-marketable equity securities
|
11.8
|
|
|
11.8
|
|
|
11.8
|
|
|
11.8
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
||||||||
Short-term debt
|
$
|
595.4
|
|
|
$
|
595.4
|
|
|
$
|
8.1
|
|
|
$
|
8.1
|
|
Interest rate and foreign currency derivative instruments
|
31.1
|
|
|
31.1
|
|
|
52.9
|
|
|
52.9
|
|
||||
Contingent purchase price obligations
|
146.7
|
|
|
146.7
|
|
|
146.5
|
|
|
146.5
|
|
||||
Long-term debt, including current portion
|
4,901.8
|
|
|
4,948.6
|
|
|
4,883.7
|
|
|
4,821.3
|
|
|
2019
|
|
2018
|
||||
Revenue
|
$
|
3,468.9
|
|
|
$
|
3,629.6
|
|
Operating Expenses:
|
|
|
|
||||
Salary and service costs
|
2,567.6
|
|
|
2,712.8
|
|
||
Occupancy and other costs
|
309.2
|
|
|
320.3
|
|
||
Cost of services
|
2,876.8
|
|
|
3,033.1
|
|
||
Selling, general and administrative expenses
|
103.6
|
|
|
105.4
|
|
||
Depreciation and amortization
|
59.6
|
|
|
69.4
|
|
||
|
3,040.0
|
|
|
3,207.9
|
|
||
Operating Profit
|
428.9
|
|
|
421.7
|
|
||
Operating Margin %
|
12.4
|
%
|
|
11.6
|
%
|
||
Interest Expense
|
63.0
|
|
|
62.3
|
|
||
Interest Income
|
17.0
|
|
|
15.4
|
|
||
Income Before Income Taxes and Income (Loss) From Equity Method Investments
|
382.9
|
|
|
374.8
|
|
||
Income Tax Expense
|
102.7
|
|
|
90.9
|
|
||
Income (Loss) From Equity Method Investments
|
(0.5
|
)
|
|
0.8
|
|
||
Net Income
|
279.7
|
|
|
284.7
|
|
||
Net Income Attributed To Noncontrolling Interests
|
16.5
|
|
|
20.6
|
|
||
Net Income - Omnicom Group Inc.
|
$
|
263.2
|
|
|
$
|
264.1
|
|
|
2019
|
|
2018
|
||||
Net Income - Omnicom Group Inc.
|
$
|
263.2
|
|
|
$
|
264.1
|
|
Net Income Attributed To Noncontrolling Interests
|
16.5
|
|
|
20.6
|
|
||
Net Income
|
279.7
|
|
|
284.7
|
|
||
Income (Loss) From Equity Method Investments
|
(0.5
|
)
|
|
0.8
|
|
||
Income Tax Expense
|
102.7
|
|
|
90.9
|
|
||
Income Before Income Taxes and Income (Loss) From Equity Method Investments
|
382.9
|
|
|
374.8
|
|
||
Interest Expense
|
63.0
|
|
|
62.3
|
|
||
Interest Income
|
17.0
|
|
|
15.4
|
|
||
Operating Profit
|
428.9
|
|
|
421.7
|
|
||
Add back: Amortization of intangible assets
|
21.6
|
|
|
27.5
|
|
||
Earnings before interest, taxes and amortization of intangible assets (“EBITA”)
|
$
|
450.5
|
|
|
$
|
449.2
|
|
|
|
|
|
||||
Revenue
|
$
|
3,468.9
|
|
|
$
|
3,629.6
|
|
EBITA
|
$
|
450.5
|
|
|
$
|
449.2
|
|
EBITA Margin %
|
13.0
|
%
|
|
12.4
|
%
|
•
|
Foreign exchange rate 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
$3,590.9 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 (
$3,468.9 million
less
$3,590.9 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 (
$3,629.6 million
for the Total column).
|
|
Three Months Ended March 31,
|
|||||||||||||
|
2019
|
|
2018
|
|
$ Change
|
|
% Organic Growth
|
|||||||
Americas:
|
|
|
|
|
|
|
|
|||||||
North America
|
$
|
1,989.2
|
|
|
$
|
1,985.7
|
|
|
$
|
3.5
|
|
|
2.2
|
%
|
Latin America
|
89.0
|
|
|
108.4
|
|
|
(19.4
|
)
|
|
(3.0
|
)%
|
|||
EMEA:
|
|
|
|
|
|
|
|
|||||||
Europe
|
945.5
|
|
|
1,070.1
|
|
|
(124.6
|
)
|
|
3.1
|
%
|
|||
Middle East and Africa
|
79.0
|
|
|
73.4
|
|
|
5.6
|
|
|
12.8
|
%
|
|||
Asia-Pacific
|
366.2
|
|
|
392.0
|
|
|
(25.8
|
)
|
|
2.1
|
%
|
|||
|
$
|
3,468.9
|
|
|
$
|
3,629.6
|
|
|
$
|
(160.7
|
)
|
|
2.5
|
%
|
|
Three Months Ended March 31,
|
|||||||||||||||||||
|
2019
|
|
2018
|
|
2019 vs. 2018
|
|||||||||||||||
|
$
|
|
% of
Revenue
|
|
$
|
|
% of
Revenue
|
|
$ Change
|
|
% Organic Growth
|
|||||||||
Advertising
|
$
|
1,921.3
|
|
|
55.4
|
%
|
|
$
|
1,901.3
|
|
|
52.4
|
%
|
|
$
|
20.0
|
|
|
5.1
|
%
|
CRM Consumer Experience
|
605.8
|
|
|
17.5
|
%
|
|
634.9
|
|
|
17.5
|
%
|
|
(29.1
|
)
|
|
(0.6
|
)%
|
|||
CRM Execution & Support
|
349.5
|
|
|
10.1
|
%
|
|
508.6
|
|
|
14.0
|
%
|
|
(159.1
|
)
|
|
(3.3
|
)%
|
|||
Public Relations
|
334.2
|
|
|
9.6
|
%
|
|
346.3
|
|
|
9.5
|
%
|
|
(12.1
|
)
|
|
(0.5
|
)%
|
|||
Healthcare
|
258.1
|
|
|
7.4
|
%
|
|
238.5
|
|
|
6.6
|
%
|
|
19.6
|
|
|
6.8
|
%
|
|||
|
$
|
3,468.9
|
|
|
|
|
$
|
3,629.6
|
|
|
|
|
$
|
(160.7
|
)
|
|
2.5
|
%
|
|
2019
|
|
2018
|
||
Food and Beverage
|
13
|
%
|
|
13
|
%
|
Consumer Products
|
9
|
%
|
|
9
|
%
|
Pharmaceuticals and Health Care
|
14
|
%
|
|
12
|
%
|
Financial Services
|
8
|
%
|
|
8
|
%
|
Technology
|
7
|
%
|
|
9
|
%
|
Auto
|
11
|
%
|
|
10
|
%
|
Travel and Entertainment
|
7
|
%
|
|
7
|
%
|
Telecommunications
|
5
|
%
|
|
5
|
%
|
Retail
|
5
|
%
|
|
6
|
%
|
Other
|
21
|
%
|
|
21
|
%
|
|
Three Months Ended March 31,
|
|||||||||||||||||||
|
2019
|
|
2018
|
|
2019 vs. 2018
|
|||||||||||||||
|
$
|
|
%
of
Revenue
|
|
$
|
|
%
of
Revenue
|
|
$
Change
|
|
%
Change
|
|||||||||
Revenue
|
$
|
3,468.9
|
|
|
|
|
$
|
3,629.6
|
|
|
|
|
$
|
(160.7
|
)
|
|
(4.4
|
)%
|
||
Operating Expenses:
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Salary and service costs
|
2,567.6
|
|
|
74.0
|
%
|
|
2,712.8
|
|
|
74.7
|
%
|
|
(145.2
|
)
|
|
(5.4
|
)%
|
|||
Occupancy and other costs
|
309.2
|
|
|
8.9
|
%
|
|
320.3
|
|
|
8.8
|
%
|
|
(11.1
|
)
|
|
(3.5
|
)%
|
|||
Cost of services
|
2,876.8
|
|
|
|
|
3,033.1
|
|
|
|
|
(156.3
|
)
|
|
(5.2
|
)%
|
|||||
Selling, general and administrative expenses
|
103.6
|
|
|
3.0
|
%
|
|
105.4
|
|
|
2.9
|
%
|
|
(1.8
|
)
|
|
(1.7
|
)%
|
|||
Depreciation and amortization
|
59.6
|
|
|
1.7
|
%
|
|
69.4
|
|
|
1.9
|
%
|
|
(9.8
|
)
|
|
(14.1
|
)%
|
|||
|
3,040.0
|
|
|
87.6
|
%
|
|
3,207.9
|
|
|
88.4
|
%
|
|
(167.9
|
)
|
|
(5.2
|
)%
|
|||
Operating Profit
|
$
|
428.9
|
|
|
12.4
|
%
|
|
$
|
421.7
|
|
|
11.6
|
%
|
|
$
|
7.2
|
|
|
1.7
|
%
|
EBITA
|
$
|
450.5
|
|
|
13.0
|
%
|
|
$
|
449.2
|
|
|
12.4
|
%
|
|
$
|
1.3
|
|
|
0.3
|
%
|
|
March 31, 2019
|
|
December 31, 2018
|
|
March 31, 2018
|
||||||
Short- term debt
|
$
|
595.4
|
|
|
$
|
8.1
|
|
|
$
|
8.6
|
|
Long-term debt, including current portion
|
4,901.8
|
|
|
4,883.7
|
|
|
4,885.0
|
|
|||
Total debt
|
5,497.2
|
|
|
4,891.8
|
|
|
4,893.6
|
|
|||
Less: Cash and cash equivalents and short-term investments
|
3,455.1
|
|
|
3,657.9
|
|
|
2,570.0
|
|
|||
Net debt
|
$
|
2,042.1
|
|
|
$
|
1,233.9
|
|
|
$
|
2,323.6
|
|
|
2019
|
|
2018
|
||||
Average amount outstanding during the quarter
|
$
|
—
|
|
|
$
|
305.4
|
|
Maximum amount outstanding during the quarter
|
$
|
—
|
|
|
$
|
971.5
|
|
Average days outstanding
|
—
|
|
|
3.9
|
|
||
Weighted average interest rate
|
—
|
%
|
|
1.84
|
%
|
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
|
|||
January 1 - 31, 2019
|
|
177,947
|
|
|
$
|
72.59
|
|
|
—
|
|
—
|
February 1 - 28, 2019
|
|
877,573
|
|
|
75.39
|
|
|
—
|
|
—
|
|
March 1 - 31, 2019
|
|
2,766,900
|
|
|
74.84
|
|
|
—
|
|
—
|
|
|
|
3,822,420
|
|
|
$
|
74.86
|
|
|
—
|
|
—
|
31.1
|
|
31.2
|
|
32
|
|
101
|
Interactive Data Files.
|
|
|
OMNICOM GROUP INC.
|
Date:
|
April 16, 2019
|
/s/ P
HILIP
J. A
NGELASTRO
|
|
|
Philip J. Angelastro
Executive Vice President and Chief Financial Officer (Principal Financial Officer and Authorized Signatory)
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
April 16, 2019
|
/s/ J
OHN
D. W
REN
|
|
|
John D. Wren
Chairman and Chief Executive Officer
|
a)
|
Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
|
b)
|
Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
|
c)
|
Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
|
d)
|
Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and
|
a)
|
All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and
|
b)
|
Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
|
Date:
|
April 16, 2019
|
/
s
/ P
HILIP
J. A
NGELASTRO
|
|
|
Philip J. Angelastro
Executive Vice President and
Chief Financial Officer
|
•
|
the Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
|
•
|
the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Omnicom Group Inc. as of the dates and for the periods expressed in the Report.
|
Date:
|
April 16, 2019
|
|
|
|
|
|
/
s
/ J
OHN
D. W
REN
|
|
|
Name:
|
John D. Wren
|
|
|
Title:
|
Chairman and Chief Executive Officer
|
|
|
|
/
s
/ P
HILIP
J. A
NGELASTRO
|
|
|
Name:
|
Philip J. Angelastro
|
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|