<TABLE>
<CAPTION>
EXHIBIT 11
Page 1 of 3
THE INTERPUBLIC GROUP OF COMPANIES, INC.
COMPUTATION OF EARNINGS PER SHARE
(Dollars in Thousands Except Per Share Data)
Year Ended December 31
<CAPTION>
1999 1998 1997 1996 1995
-------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
BASIC:
Net income $331,287 $339,907 $224,184 $228,914 $145,975
Weighted average number of
common shares outstanding 297,992,048 294,755,783 283,795,670 284,219,045 278,303,418
Net income per share - Basic $1.11 $1.15 $ .79 $ .81 $ .52
DILUTED:
Net income $331,287 $339,907 $224,184 $228,914 $145,975
After tax interest savings
on assumed conversion of
subordinated debentures(1)(2) -- -- 5,929 6,410 --
Add: Dividends paid net of
related income tax applicable
to the Restricted Stock Plan 631 541 447 384 461
-------------------------------------------------------------------
Net income, as adjusted $331,918 $340,448 $230,560 $235,708 $146,436
===================================================================
Weighted average number of
common shares outstanding 297,992,048 294,755,783 283,795,670 284,219,933 278,303,418
Assumed conversion of
subordinated debentures(1)(2) -- -- 8,020,582 8,933,004 --
Weighted average number of
incremental shares in
connection with assumed
exercise of stock options 7,310,525 6,923,813 6,508,296 4,438,746 3,843,846
Weighted average number of
incremental shares in
connection with the
Restricted Stock Plan 3,536,805 3,453,838 3,277,294 3,211,128 4,160,134
-------------------------------------------------------------------
Total 308,839,378 305,133,434 301,601,842 300,802,811 286,307,398
===================================================================
Diluted Earnings Per Share Data:
Net Income $1.07 $1.12 $ .76 $ .78 $ .51
</TABLE>
All share data for prior periods have been adjusted the two-for-one stock split
effective July 15, 1999.
-----------------
[FN]
(1) The computation of diluted EPS for 1999 excludes the assumed conversion of
the 1.87% and 1.80% Convertible Subordinated Notes due 2006 and 2004,
respectively, because they were antidilutive.
(2) The computation of diluted EPS for 1998 and 1997 excludes the assumed
conversion of the 1.80% Convertible Subordinated Notes due 2004 because
they were antidilutive. Similarly, the computation of diluted EPS for 1995
excludes the assumed conversion of the 3 3/4% Convertible Subordinated
Debentures due 2002 as they were antidilutive.
<PAGE>
EXHIBIT 11
Page 2 of 3
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND ITS SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Amounts in Thousands Except Per Share Data)
Three Months Ended September 30
-------------------------------
Basic 2000 1999
------------ ------------
Net income $ 70,078 $ 71,612
Weighted average number of common shares
outstanding 305,929 298,688
============ ============
Earnings per common share $ .23 $ .24
============ ============
Three Months Ended September 30
-------------------------------
Diluted 2000 1999
------------ ------------
Net income $ 70,078 $ 71,612
Add:
After tax savings on assumed conversion
of subordinated debentures and notes -- --
Dividends paid net of related income tax
applicable to restricted stock 183 163
------------ ------------
Net income, as adjusted $ 70,261 $ 71,775
============ ============
Weighted average number of common shares
outstanding 305,929 298,688
Weighted average number of incremental shares
in connection with restricted stock
and assumed exercise of stock options 9,029 10,610
Assumed conversion of subordinated
debentures and notes -- --
------------ ------------
Weighted average common and
common equivalent share 314,958 309,298
============ ============
Earnings per common and
common equivalent share $ .22 $ .23
============ ============
Note: The computation of diluted EPS for 2000 and 1999 excludes the assumed
conversion of the 1.87% and 1.8% Convertible Subordinated Notes because they
were anti-dilutive.
<PAGE>
EXHIBIT 11
Page 3 of 3
THE INTERPUBLIC GROUP OF COMPANIES, INC. AND ITS SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Amounts in Thousands Except Per Share Data)
Nine Months Ended September 30
------------------------------
Basic 2000 1999
----------- -----------
Net income $ 255,474 $ 275,410
Weighted average number of common shares
outstanding 302,038 297,757
=========== ===========
Earnings per common share $ .85 $ .92
=========== ===========
Nine Months Ended September 30
------------------------------
Diluted 2000 1999
----------- -----------
Net income $ 255,474 $ 275,410
Add:
After tax interest savings on assumed
conversion of subordinated debentures and notes -- 5,862
Dividends paid net of related income tax
applicable to restricted stock 518 466
----------- -----------
Net income, as adjusted $ 255,992 $ 281,738
=========== ===========
Weighted average number of common shares
outstanding 302,038 297,757
Weighted average number of incremental shares
in connection with restricted stock
and assumed exercise of stock options 9,825 10,765
Assumed conversion of subordinated
debentures and notes -- 6,693
----------- -----------
Weighted average common and
common equivalent share 311,863 315,215
=========== ===========
Earnings per common and common equivalent share $ .82 $ .89
=========== ===========
Note: The computation of diluted EPS for 2000 excludes the assumed conversion of
the 1.87% and 1.8% Convertible Subordinated Notes and for 1999 excludes the
assumed conversion of the 1.87% Convertible Subordinated Notes, respectively,
because they were anti-dilutive.
