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66 Notes to Consolidated Financial Statements Manpower Annual Report 2008
Notes To Consolidated Financial Statements
in millions, except per share data
We also maintain a non-qualified deferred compensation plan for certain employees at Right Management. Under the plan,
participants may defer from their pre-tax income, up to a maximum of 6% of their total compensation. A matching contribution
is made of 50% of the participating employees’ contributions to the plan. Contributions vest at 33.3% per year over a three-
year period from the employee’s date of hire. Our contributions were $0.1 for 2008, 2007 and 2006.
10.
Accumulated Other Comprehensive (Loss) Income
The components of Accumulated Other Comprehensive (Loss) Income, net of tax, are as follows:
December 31 2008 2007 2006
Foreign currency translation $ 4.0 $ 253.9 $ 147.6
Unrealized gain on investments 2.3 9.9 8.9
Unrealized loss on derivatives (4.6) (3.2) (4.8)
Defined benefit pension plans (Note 9) (15.2) (8.0) (34.0)
Retiree health care plan (Note 9) 4.6 5.0 2.9
Accumulated other comprehensive (loss) income $ (8.9) $ 257.6 $ 120.6
11.
Leases
We lease property and equipment primarily under operating leases. Renewal options exist for substantially all leases. Future
minimum payments, by year and in the aggregate, under noncancelable operating leases with any remaining terms consist of
the following as of December 31, 2008:
Year
2009 $ 203.2
2010 153.4
2011 115.3
2012 81.9
2013 57.7
Thereafter 151.4
Total minimum lease payments $ 762.9
Rental expense for all operating leases was $284.4, $240.6 and $217.7 for the years ended December 31, 2008, 2007 and
2006, respectively.
12.
Interest and Other Expense
Interest and Other Expense consists of the following:
Year Ended December 31 2008 2007 2006
Interest expense $ 63.9 $ 53.4 $ 50.0
Interest income (22.1) (24.4) (14.2)
Foreign exchange (gain) loss (2.9) (0.6) 3.2
Miscellaneous expense, net 12.0 5.8 11.2
Interest and other expense $ 50.9 $ 34.2 $ 50.2