ManpowerGroup 2004 Annual Report Download - page 89

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MANPOWER INC. 2004 Annual Report87
Year Ended December 31 2004 2003 2002
Revenues from Services (a)
United States (b) $ 2,041.1 $ 1,945.8 $ 1,911.4
France 5,226.7 4,638.8 3,848.2
EMEA 5,084.3 3,920.2 3,434.9
Jefferson Wells 340.6 136.4 141.7
Right (c) 431.1 66.9 54.4
Other Operations 1,806.2 1,476.4 1,220.3
$ 14,930.0 $ 12,184.5 $ 10,610.9
Operating Unit Profit
United States $ 49.3 $ 33.7 $ 29.2
France 178.8 184.0 143.6
EMEA 115.1 51.7 83.0
Jefferson Wells 51.4 (9.9) (8.3)
Right 24.5 (2.3) (4.5)
Other Operations 46.0 40.1 19.4
465.1 297.3 262.4
Corporate expenses 57.0 39.4 27.5
Amortization of intangible assets 12.3 — 0.1
Interest and other expense 26.3 35.8 46.8
Earnings before income taxes $ 369.5 $ 222.1 $ 188.0
Depreciation and Amortization Expense
United States $ 7.3 $ 8.9 $ 10.9
France 17.9 19.4 16.5
EMEA 23.6 26.0 26.9
Jefferson Wells 2.2 2.3 3.2
Right 14.7 1.0 0.8
Other Operations 8.5 6.8 7.0
$ 74.2 $ 64.4 $ 65.3
Earnings from Investments in Licensees
United States $ 0.8 $ (0.7) $ (0.2)
France (0.3) ——
EMEA 0.6 6.3 3.5
Other Operations (0.5) — (0.4)
$ 0.6 $ 5.6 $ 2.9
(a) Supplemental geographic information is as follows:
Revenues from Services: 2004 2003 2002
United States $ 2,542.7 $ 2,092.4 $ 2,063.9
France 5,258.4 4,638.8 3,848.2
United Kingdom 1,791.5 1,371.8 1,287.4
Total Foreign 12,387.3 10,092.1 8,547.0
(b) U.S. revenues above represent revenues from our Company-owned branches and franchise fees received from our franchise operations. These fees are primarily
based on revenues generated by our franchise operations, which are discussed further on the financial highlights page.
(c) Represents the operations of Right Management Consultants, Inc., since its acquisition in January 2004, and the Empower Group.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data