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Notes to Consolidated Financial Statements ManpowerGroup 2011 Annual Report 75
Yea r Ended De cem ber 31 2 011 2010 2009
Revenues from Services(a)
Americas:
United States(b) $ 3,137.3 $ 2,783.4 $ 1,786.0
Other Americas 1,512.1 1,265.5 967.3
4,649.4 4,048.9 2,753.3
Southern Europe:
France 6,179.1 5,208.6 4,675.5
Italy 1,255.8 1,044.2 950.8
Other Southern Europe 776.9 698.9 590.9
8,211.8 6,951.7 6,217.2
Northern Europe 6,159.4 5,344.1 4,780.8
APME 2,661.7 2,147.2 1,728.0
Right Management 323.7 374.6 559.4
$ 22,006.0 $ 18,866.5 $ 16,038.7
Operating Unit Profit (Loss)
Americas:
United States $ 94.1 $ 42.8 $ (41.4)
Other Americas 47.8 36.5 20.1
141.9 79.3 (21.3)
Southern Europe:
France 85.2 47.1 20.8
Italy 74.1 47.5 27.9
Other Southern Europe 10.8 7.2 (6.1 )
170.1 101.8 42.6
Northern Europe 212.6 150.2 40.8
APME 78.8 47.2 26.5
Right Management (1.4 ) 3.5 113.4
602.0 382.0 202.0
Corporate expenses (123.1 ) (101.2) (77.4)
Goodwill and intangible asset impairment charges – (428.8) (61.0)
Intangible asset amortization expense(c) (38.9 ) (39.3) (21.9)
Reclassification of French business tax(d) 84.2 65.3 –
Interest and other expenses (44.3 ) (43.2) (64.6)
Earnings (loss) before income taxes $ 479.9 $ (165.2) $ (22.9)
(a) Further breakdown of Revenues from services by geographical region is as follows:
Revenues from Services 2011 2010 2009
United States $ 3,254.6 $ 2,940.1 $ 2,059.4
France 6,201.9 5,240.7 4,710.3
Italy 1,277.1 1,065.0 967.8
United Kingdom 1,880.4 1,822.2 1,738.0
Total Foreign 18,751.4 15,926.4 13,979.3
(b) The U.S. revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which are
discussed further on the financial highlights page.
(c) Intangible asset amortization related to acquisitions was excluded from operating costs within the reportable segments and corporate expenses, and
shown separately.
(d) The French business tax, as disclosed in Note 5 to the Consolidated Financial Statements, is reported in Provision for income taxes rather than in Cost of
services, in accordance with the current accounting guidance on income taxes. However, we view this tax as operational in nature. Accordingly, the
financial information reviewed internally continues to include the French business tax within the Operating unit profit of our France reportable segment.
Therefore, we have shown the amount of the French business tax above to reconcile to our Earnings (loss) before income taxes.