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54 Manpower 2007 Annual Report Notes to Consolidated Financial Statements
Notes To Consolidated Financial Statements
in millions, except per share data
09.
Retirement And Deferred Compensation Plans
Defi ned Benefi t Plans
We sponsor several qualifi ed and nonqualifi ed pension plans covering permanent employees. The reconciliation of the changes
in the plans’ benefi t 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 2007 2006 2007 2006
Change in Benefi t Obligation
Benefi t obligation, beginning of year $ 50.0 $ 52.6 $ 250.4 $ 234.2
Service cost 0.1 0.2 14.0 11.7
Interest cost 2.8 2.8 11.5 10.1
Plan amendments ——0.3 0.4
Curtailments ——(0.5) (0.3)
Transfers ——(6.0) (0.8)
Actuarial loss (gain) 1.3 (0.7) (37.6) (3.4)
Plan participant contributions ——2.4 1.2
Benefi ts paid (4.4) (4.9) (5.0) (5.9)
Divestiture due to discontinued operations ———(22.5)
Currency exchange rate changes ——14.3 25.7
Benefi t obligation, end of year $ 49.8 $ 50.0 $ 243.8 $ 250.4
Change in Plan Assets
Fair value of plan assets, beginning of year $ 38.8 $ 39.1 $ 172.6 $ 145.0
Actual return on plan assets 4.7 2.2 6.3 5.5
Curtailments ——(0.3) —
Transfers ——(6.4) —
Plan participant contributions ——2.4 1.7
Company contributions 2.8 2.4 16.8 16.4
Benefi ts paid (4.4) (4.9) (5.0) (5.9)
Divestiture due to discontinued operations ———(6.7)
Currency exchange rate changes ——9.5 16.6
Fair value of plan assets, end of year $ 41.9 $ 38.8 $ 195.9 $ 172.6
Funded Status
Funded status of plan at measurement date $ (7.9) $ (11.2) $ (47.9) $ (77.8)
Contributions between measurement date and fi scal year end 0.5 0.5 ——
Funded status, end of year $ (7.4) $ (10.7) $ (47.9) $ (77.8)
Amounts Recognized
Noncurrent assets $ 12.1 $ 8.4 $ 2.7 $ —
Current liabilities (1.8) (1.7) (0.3) (0.4)
Noncurrent liabilities (17.7) (17.4) (50.3) (77.4)
Net amount recognized $ (7.4) $ (10.7) $ (47.9) $ (77.8)
Amounts recognized in Accumulated Other Comprehensive Income, net of tax, consist of:
U.S. Plans Non-U.S. Plans
Year Ended December 31 2007 2006 2007 2006
Net (gain) loss $ (3.2) $ (2.7) $ 9.0 $ 34.8
Prior service cost 0.4 —1.7 1.8
Transitional obligation ——0.1 0.1
Amounts recognized in Accumulated Other Comprehensive Income $ (2.8) $ (2.7 ) $ 10.8 $ 36.7