ManpowerGroup 2012 Annual Report Download - page 68

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There were 4.3 million and 3.1 million share-based awards excluded from the calculation of net earnings per share —
diluted for the year ended December 31, 2012 and 2011, respectively, as the exercise prices for these awards were greater
than the average market price of the common shares during the period. Due to the net loss for the year ended December
31, 2010, the assumed exercise of share-based awards had an antidilutive effect and therefore was not included in the
calculation of net loss per share — diluted. The number, exercise prices and weighted-average remaining life of these
antidilutive awards were as follows:
2012 2011 2010
Shares (in thousands) 4,257 3,074 6,583
Exercise price ranges $40–$93 $52–$93 $11–$93
Weighted-average remaining life 4.8 years 6.3 years 5.8 years
05.
Income Taxes
The provision for income taxes was as follows:
Year Ended December 31 2012 2011 2010
Current
United States
Federal $ 17.5 $ 24.2 $ 37.4
State 9.6 2.8 3.2
Non-United States 155.3 176.5 126.3
Total current 182.4 203.5 166.9
Deferred
United States
Federal (20.4) (2.3) (81.1)
State 0.5 3.3 (2.9)
Non-United States 8.3 23.8 15.5
Total deferred (11.6) 24.8 (68.5)
Total provision $ 170.8 $ 228.3 $ 98.4
A reconciliation between taxes computed at the United States Federal statutory rate of 35% and the consolidated effective
tax rate is as follows:
Year Ended December 31 2012 2011 2010
Income tax based on statutory rate $ 128.9 $ 168.0 $ (57.8)
Increase (decrease) resulting from:
State income taxes, net of Federal benefit 6.7 5.2 (0.6)
Non-United States tax rate difference 40.8 40.6 38.7
Repatriation of non-United States earnings (16.9) 11.1 (4.8)
Change in valuation reserve 4.7 (3.3) 11.7
Non-deductible goodwill impairment charge —— 109.1
Other, net 6.6 6.7 2.1
Tax provision $ 170.8 $ 228.3 $ 98.4
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data
66 ManpowerGroup 2012 Annual Report Notes to Consolidated Financial Statements