ManpowerGroup 2009 Annual Report Download - page 66

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Notes To Consolidated Financial Statements
in millions, except share and per share data
64 Manpower 2009 Annual Report Notes to Consolidated Financial Statements
Amounts recognized in Accumulated Other Comprehensive Income (Loss), net of tax, consist of:
U.S. Plans Non-U.S. Plans
Year Ended December 31 2009 2008 2009 2008
Net loss (gain) $ 6.0 $ 5.8 $ (0.6) $ 1.1
Prior service cost 0.3 0.3 7.5 8.0
Total $ 6.3 $ 6.1 $ 6.9 $ 9.1
The accumulated benefi t obligation for our plans that have plan assets was $195.7 and $188.1 as of December 31, 2009 and
2008, respectively. The accumulated benefi t obligation for certain of our plans exceeded the fair value of plan assets as follows:
December 31 2009 2008
Projected benefi t obligation $ 128.3 $ 34.9
Accumulated benefi t obligation 122.7 22.2
Plan assets 115.8 21.6
The projected benefi t obligation for certain of our plans exceeded the fair value of plan assets as follows:
December 31 2009 2008
Projected benefi t obligation $ 160.3 $ 63.8
Plan assets 144.9 45.8
In 2009, our largest plan saw a change in its funded status such that its accumulated benefi t obligations and projected
benefi t obligations exceeded its plan assets as of December 31, 2009. As a result, this signifi cant plan is included in the
amounts disclosed above for 2009 but not for 2008.
By their nature, certain of our plans do not have plan assets. The accumulated benefi t obligation for these plans was $53.1
and $40.3 as of December 31, 2009 and 2008, respectively.
The components of the net periodic benefi t cost and other amounts recognized in Other Comprehensive (Loss) Income for all
plans are as follows:
Year Ended December 31 2009 2008 2007
Service cost $ 11.1 $ 14.4 $ 14.1
Interest cost 14.1 15.3 14.3
Expected return on assets (12.6) (13.9) (12.5)
Curtailment and settlement (4.3) ––
Net (gain) loss (2.1) (0.8) 2.5
Prior service cost 0.5 0.5 0.8
Net periodic benefi t cost 6.7 15.5 19.2
Other Changes in Plan Assets and Benefi t Obligations
Recognized in Other Comprehensive (Loss) Income
Net (gain) loss (9.0) 9.7 (33.6)
Amortization of net gain (loss) 3.0 0.9 (2.5)
Prior service cost –10.4 0.4
Amortization of prior service cost (0.8) (0.6) (0.8)
Total recognized in other comprehensive (loss) income (6.8 ) 20.4 (36.5)
Total recognized in net periodic benefi t cost and other comprehensive (loss) income $ (0.1 ) $ 35.9 $ (17.3)
The estimated net gain and prior service cost for the defi ned benefi t pension plans that will be amortized from Accumulated
Other Comprehensive Income (Loss) into net periodic benefi t cost during 2010 are $2.4 and $0.8, respectively.
The weighted-average assumptions used in the measurement of the benefi t obligation are as follows:
U.S. Plans Non-U.S. Plans
Year Ended December 31 2009 2008 2009 2008
Discount rate 5.7% 6.4% 5.5% 5.2%
Rate of compensation increase 4.0% 4.0% 4.5% 4.1%