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ManpowerGroup 2013 Annual Report Notes to Consolidated Financial Statements
66
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data
A summary of the performance share units detail by grant year is as follows:
2011 2012
July 2012 and
February 2013 2013(a)
Grant Date(s) February 16,
2011
February 15,
2012
July 1, 2012 and
February 14,
2013
February 14,
2013
Performance Period (Years) 2011 2012 2012–2014 2013
Vesting Date(s) 50% on
December 31,
2012 and 2013
50% on
December 31,
2013 and 2014
50% on
July 1,
2015 and 2016
50% on
December 31,
2014 and 2015
Payout Levels (in units):
Threshold Award 61,182 84,480 66,949 76,120
Target Award 122,364 168,960 133,898 152,240
Outstanding Award 244,728 337,920 267,796 304,480
Units Forfeited in 2013 (at Target Award level) 4,946 8,854 10,715 —
Shares Issued in 2013 86,951 79,963 — —
Shares Subject to Holding Period as of
December 31, 2013 — 72,843 — 210,091
% of the Target Performance Level based on
the Current/Expected Average Operating
Profit Margin over the Performance Period 158% 96% — 140%
(a) Included in these figures are 7,612 of performance share units that were granted on February 14, 2013 with a separate performance period,
performance criteria and vesting date. The performance period is 2013 through 2015, with a vesting date of July 1, 2016. The award’s current
performance level is at Target.
We recognize and adjust compensation expense based on the likelihood of the performance criteria specified in the award
being achieved. The compensation expense is recognized over the performance and holding periods and is recorded in
selling and administrative expenses. We have recognized total compensation expense of $13.1, $9.6 and $11.3 in 2013,
2012 and 2011, respectively, related to the performance share units.
OTHER STOCK PLANS
Under the 1990 Employee Stock Purchase Plan, designated employees meeting certain service requirements may purchase
shares of our common stock through payroll deductions. These shares may be purchased at their fair market value on a
monthly basis. The current plan is non-compensatory according to the accounting guidance on share-based payments.
We also maintain the Savings Related Share Option Scheme for United Kingdom employees with at least one year of
service. The employees are offered the opportunity to obtain an option for a specified number of shares of common stock
at not less than 85% of its market value on the day prior to the offer to participate in the plan. Options vest after either three,
five or seven years, but may lapse earlier. Funds used to purchase the shares are accumulated through specified payroll
deductions over a 60-month period. We recognized an expense of $0.2 for shares purchased under the plan in 2013, 2012
and 2011.
04.
Net Earnings Per Share
The calculation of net earnings per share — basic was as follows:
Year Ended December 31 2013 2012 2011
Net earnings available to common shareholders $ 288.0 $ 197.6 $ 251.6
Weighted-average common shares outstanding (in millions) 78.0 79.5 81.6
Net earnings per share — basic $ 3.69 $ 2.49 $ 3.08