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Manpower฀2006฀Annual฀Report ฀ 53
Notes฀to฀Consolidated฀Financial฀Statements฀
09.
RET IREME NT฀AND฀DEFERRE D฀COMPE NSATION฀P LANS
Defined฀Benefit฀Plans
We฀sponsor฀several฀qualified฀and฀nonqualified฀pension฀plans฀covering฀permanent฀employees.฀The฀reconciliation฀of฀the฀changes฀
in฀the฀plans’฀benefit฀obligations฀and฀the฀fair฀value฀of฀plan฀assets฀and฀the฀funded฀status฀of฀the฀plans฀are฀as฀follows:
U.S.฀Plans Non-U.S.฀Plans
Year฀Ended฀December฀31 2006 2005 2006 2005
Change฀in฀Benefit฀Obligation
Benefit฀obligation,฀beginning฀of฀year $฀ 52.6 $฀ 52.3 $฀ 234.2 $฀ 203.9
฀ Service฀cost 0.2 0.1 11.7 11.8
฀ Interest฀cost 2.8 2.9 10.1 10.1
฀ Plan฀amendments ——0.4 2.6
฀ Curtailments ——(0.3) (0.9)
฀ Transfers ——(0.8) 1.0
฀ Actuarial฀(gain)฀loss (0.7) 1.2 (3.4) 34.7
฀ Plan฀participant฀contributions ——1.2 1.8
฀ Benefits฀paid (4.9) (3.9) (5.9) (4.7)
฀ Divestiture฀due฀to฀discontinued฀operations ——(22.5) —
฀ Currency฀exchange฀rate฀changes ——25.7 (26.1)
Benefit฀obligation,฀end฀of฀year $฀ 50.0 $฀ 52.6 $฀ 250.4 $฀ 234.2
Change฀in฀Plan฀Assets
Fair฀value฀of฀plan฀assets,฀beginning฀of฀year $฀ 39.1 $฀ 37.5 $฀ 145.0 $฀ 126.5
฀ Actual฀return฀on฀plan฀assets 2.2 3.1 5.5 23.0
฀ Transfers ———1.0
฀ Plan฀participant฀contributions ——1.7 1.8
฀ Company฀contributions 2.4 2.4 16.4 12.7
฀ Benefits฀paid (4.9) (3.9) (5.9) (4.7)
฀ Divestiture฀due฀to฀discontinued฀operations ——(6.7) —
฀ Currency฀exchange฀rate฀changes ——16.6 (15.3)
Fair฀value฀of฀plan฀assets,฀end฀of฀year $฀ 38.8 $฀ 39.1 $฀ 172.6 $฀ 145.0
Funded฀Status฀at฀End฀of฀Year
Funded฀status฀of฀plan $฀ (11.2) $฀ (13.5) $฀ (77.8) $฀ (89.2)
Unrecognized฀net฀(gain)฀loss —(5.0) —52.6
Unrecognized฀prior฀service฀cost —0.8 —2.3
Unrecognized฀transitional฀asset ———0.2
Contributions฀between฀measurement฀date฀and฀fiscal฀year฀end 0.5 ———
Net฀amount฀recognized $฀ (10.7) $฀ (17.7) $฀ (77.8) $฀ (34.1)
Amounts฀Recognized
Accrued฀benefit฀liability $฀ — $฀ (21.0) $฀ — $฀ (69.7)
Intangible฀assets —0.8 —0.1
Accumulated฀other฀comprehensive฀loss —2.5 —35.5
Noncurrent฀assets 8.4 ———
Current฀liabilities (1.7) —(0.4) —
Noncurrent฀liabilities (17.4) —(77.4) —
Net฀amount฀recognized $฀ (10.7) $฀ (17.7) $฀ (77.8) $฀ (34.1)