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Manpower฀2006฀Annual฀Report ฀ 61
Notes฀to฀Consolidated฀Financial฀Statements฀
Year฀Ended฀December฀31 2006 2005 2004
Revenues฀from฀Services฀(a)฀(b)
United฀States฀(c) $฀ 2,114.9 $฀ 2,048.3 $฀ 2,041.1
France 6,019.1 5,475.8 5,200.1
EMEA 6,363.3 5,471.2 4,883.0
Jefferson฀Wells 373.0 386.2 340.6
Right฀Management 387.3 401.8 424.6
Other฀Operations 2,304.9 2,062.1 1,785.6
$฀ 17,562.5 $฀ 15,845.4 $฀ 14,675.0
Operating฀Unit฀Profit
United฀States $฀ 87.4 $฀ 68.7 $฀ 49.3
France 203.3 168.7 178.8
EMEA 220.2 144.1 116.9
Jefferson฀Wells 31.9 33.3 51.4
Right฀Management 18.3 25.7 25.4
Other฀Operations 69.9 60.4 45.3
631.0 500.9 467.1
Corporate฀expenses 85.8 59.0 57.0
Amortization฀of฀intangible฀assets 13.1 13.1 12.3
Interest฀and฀other฀expense 50.2 41.8 26.2
Earnings฀before฀income฀taxes฀and฀discontinued฀operations $฀ 481.9 $฀ 387.0 $฀ 371.6
Depreciation฀and฀Amortization฀Expense
United฀States $฀ 8.1 $฀ 8.6 $฀ 7.3
France 18.8 20.0 17.7
EMEA 22.9 23.4 23.8
Jefferson฀Wells 3.9 3.4 2.2
Right฀Management 11.0 13.0 14.7
Other฀Operations 11.0 11.4 8.5
Amortization฀of฀intangible฀assets 13.1 13.1 12.3
$฀ 88.8 $฀ 92.9 $฀ 86.5฀฀฀฀
Earnings฀from฀Equity฀Investments
United฀States $฀ 0.9 $฀ 0.7 $฀ 0.8
France (1.2) (1.0) (0.3)
EMEA 4.0 2.7 0.6
Other฀Operations (0.6) — (0.5)
$฀ 3.1 $฀ 2.4 $฀ 0.6
(a)฀฀ ฀Certain฀Eastern฀European฀countries฀previously฀reported฀in฀France฀and฀our฀Russian฀operations฀previously฀reported฀in฀Other฀Operations,฀are฀now฀reported฀in฀EMEA฀due฀to฀a฀
change฀in฀management฀structure.฀All฀previously฀reported฀results฀for฀France,฀EMEA฀,฀and฀Other฀Operations฀have฀been฀revised฀to฀conform฀to฀the฀current฀year฀presentation.฀There฀
were฀Revenues฀from฀Services฀of฀$56.2฀and฀$26.6฀in฀2005฀and฀2004,฀respectively,฀and฀Operating฀Unit฀Profit฀of฀$(2.2)฀and฀$0฀in฀2005฀and฀2004,฀respectively,฀previously฀reported฀฀
in฀France.฀There฀were฀Revenues฀from฀Services฀of฀$41.1฀and฀$20.6฀in฀2005฀and฀2004,฀respectively,฀and฀Operating฀Unit฀Profit฀of฀$1.3฀and฀$0.7฀in฀2005฀and฀2004,฀respectively,฀฀
previously฀reported฀in฀Other฀Operations฀which฀are฀now฀reported฀in฀EMEA฀related฀to฀this฀change.
(b)฀฀฀ ฀Supplemental฀geographic฀information฀is฀as฀follows:
Revenues฀from฀Services 2006 2005 2004
United฀States $฀ 2,644.1 $฀ 2,593.1 $฀ 2,542.7
France 6,050.6 5,506.8 5,231.9
United฀Kingdom 1,554.3 1,848.0 1,791.5
Total฀Foreign 14,918.4 13,252.3 12,132.3
(c)฀฀ ฀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.