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62 Notes to Consolidated Financial Statements Manpower Annual Report 2008
Notes To Consolidated Financial Statements
in millions, except per share data
DEBT MATURITIES
The maturities of Long-Term Debt payable within each of the four years subsequent to December 31, 2009 are as follows:
2010 – $0.8, 2011 – $0.1, 2012 – $558.0, and 2013 – $278.4.
09.
Retirement And Deferred Compensation Plans
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 2008 2007 2008 2007
Change in Benefit Obligation
Benefit obligation, beginning of year $ 49.8 $ 50.0 $ 243.8 $ 250.4
Service cost 0.1 0.1 14.3 14.0
Interest cost 3.6 2.8 12.3 11.5
Plan amendments — — 10.5 0.3
Curtailments — — — (0.5)
Transfers — — (0.8) (6.0)
Actuarial loss (gain) 0.8 1.3 (26.3) (37.6)
Plan participant contributions — — 2.8 2.4
Benefits paid (5.0) (4.4) (6.6) (5.0)
Currency exchange rate changes — — (41.2) 14.3
Benefit obligation, end of year $ 49.3 $ 49.8 $ 208.8 $ 243.8
Change in Plan Assets
Fair value of plan assets, beginning of year $ 41.9 $ 38.8 $ 195.9 $ 172.6
Actual return on plan assets (9.7) 4.7 (10.1) 6.3
Curtailments — — — (0.3)
Transfers — — (0.1) (6.4)
Plan participant contributions — — 2.8 2.4
Company contributions 3.1 2.8 31.1 16.8
Benefits paid (5.0) (4.4) (6.6) (5.0)
Currency exchange rate changes — (37.2) 9.5
Fair value of plan assets, end of year $ 30.3 $ 41.9 $ 175.8 $ 195.9
Funded Status
Funded status of plan at measurement date $ (19.0) $ (7.9) $ (33.0) $ (47.9)
Contributions between measurement date and fiscal year end — 0.5 — —
Funded status, end of year $ (19.0) $ (7.4) $ (33.0) $ (47.9)
Amounts Recognized
Noncurrent assets $ 0.4 $ 12.1 $ 15.4 $ 2.7
Current liabilities (1.7) (1.8) (0.5) (0.3)
Noncurrent liabilities (17.7) (17.7) (47.9) (50.3)
Net amount recognized $ (19.0) $ (7.4) $ (33.0) $ (47.9)
Amounts recognized in Accumulated Other Comprehensive (Loss) Income, net of tax, consist of:
U.S. Plans Non-U.S. Plans
Year Ended December 31 2008 2007 2008 2007
Net loss (gain) $ 5.8 $ (3.2) $ 1.1 $ 9.0
Prior service cost 0.3 0.4 8.0 1.7
Transitional obligation — — — 0.1
Total $ 6.1 $ (2.8) $ 9.1 $ 10.8