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August 2021
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FOR: | MDC Partners Inc. | CONTACT: | Erica Bartsch | ||||||||||||||||||||
One World Trade Center, Floor 65 | Sloane & Company | ||||||||||||||||||||||
New York, NY 10007 | 212-446-1875 | ||||||||||||||||||||||
IR@mdc-partners.com |
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Mdc Partners Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:
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Income Tax Expense (Benefit) Income tax expense for the twelve months ended December 31, 2020 was $116.6 million (on pre-tax loss of $88.4 million resulting in a negative effective tax rate of 131.8%) compared to $10.3 million (on pre-tax income of $20.9 million resulting in an effective tax rate of 49.4%) for the twelve months ended December 31, 2019.
The change in the categories of expenses as a percentage of revenue in the Integrated Networks - Group A reportable segment for the twelve months ended December 31, 2019 and 2018 was as follows: The decrease in administrative costs was driven by lower spending across various categories in connection with savings initiatives.
For the twelve months ended December 31, 2020, the impairment and other losses included an $11.8 million charge to reduce the carrying value of goodwill and a $5.3 million charge for the acceleration of variable lease expenses of $6.5 million associated with the exit of a property in New York as part of the centralization of the Company's New York real estate portfolio.
The decline in operating income was attributable to a decline in revenue and higher operating expenses, as outlined below.
The decrease in administrative costs was driven by lower spending across various categories in connection with savings initiatives.
The decrease in administrative costs...Read more
Interest Expense and Finance Charges,...Read more
Corporate The change in operating...Read more
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Liquidity and Capital Resources: Liquidity...Read more
The number of Stagwell OpCo...Read more
Administrative costs were lower due...Read more
Equity in Earnings (Losses) of...Read more
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Stock-based compensation was lower in...Read more
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Integrated Networks - Group A...Read more
Integrated Networks - Group B...Read more
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The majority of the value...Read more
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The Company has historically been...Read more
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The impairment consisted of the...Read more
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Stock-based compensation expense declined in...Read more
The decrease in Adjusted EBITDA...Read more
The change in the categories...Read more
Integrated Networks - Group A...Read more
This approach isolates changes in...Read more
Our leadership and business continuity...Read more
The revised terms of the...Read more
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Foreign Exchange Transaction Gain (Loss)...Read more
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These indicators may include a...Read more
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Management anticipates that the obligations...Read more
Results of Operations: Corporate's capital...Read more
Common Shareholders As a result...Read more
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At December 31, 2020, the...Read more
Additionally, the Company repurchased $29.7...Read more
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In connection with the closing...Read more
The Company provides post-acquisition support...Read more
The negative effective tax rate...Read more
Effective in 2020, the Company...Read more
A client may choose to...Read more
The impairment was recognized to...Read more
In addition, the Company has...Read more
The increase in Adjusted EBITDA...Read more
All Other The change in...Read more
All Other The change in...Read more
A change to any of...Read more
In 2019, we recognized a...Read more
The Company intends to maintain...Read more
The Company continues to monitor...Read more
MDC's differentiation lies in its...Read more
Media & Data Network The...Read more
Corporate The change in operating...Read more
The ultimate amount payable in...Read more
MDC conducts its business through...Read more
However, if there was an...Read more
MDC takes precautions against default...Read more
On December 21, 2020, MDC...Read more
The decrease in staff costs...Read more
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The Company's work is designed...Read more
Direct costs represent billable or...Read more
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Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Mdc Partners Inc provided additional information to their SEC Filing as exhibits
Ticker: MDCA
CIK: 876883
Form Type: 10-K Annual Report
Accession Number: 0000876883-21-000016
Submitted to the SEC: Tue Mar 16 2021 12:47:09 PM EST
Accepted by the SEC: Tue Mar 16 2021
Period: Thursday, December 31, 2020
Industry: Advertising Agencies