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ManpowerGroup 2013 Annual Report Notes to Consolidated Financial Statements
72
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data
08.
Retirement and Deferred Compensation Plans
DEFINED BENEFIT PLANS
We sponsor several qualified and nonqualified pension plans covering permanent employees. The reconciliation of the
changes in the plans’ benefit obligations and the fair value of plan assets and the funded status of the plans are as follows:
United States Plans Non-United States Plans
Year Ended December 31 2013 2012 2013 2012
Change in Benefit Obligation
Benefit obligation, beginning of year $ 61.9 $ 57.5 $ 315.2 $ 264.7
Service cost ——8.7 10.4
Interest cost 2.2 2.6 12.6 12.5
Curtailments ——(3.4) —
Transfers ——(0.3) (0.1)
Actuarial (gain) loss (5.9) 6.0 (0.6) 20.4
Plan participant contributions ——0.4 2.2
Benefits paid (4.4) (4.2) (6.7) (5.6)
Currency exchange rate changes ——5.7 10.7
Benefit obligation, end of year $ 53.8 $ 61.9 $ 331.6 $ 315.2
United States Plans Non-United States Plans
Year Ended December 31 2013 2012 2013 2012
Change in Plan Assets
Fair value of plan assets, beginning of year $ 36.0 $ 34.7 $ 296.4 $ 250.4
Actual return on plan assets 4.6 2.8 (4.2) 21.2
Plan participant contributions ——0.4 2.2
Company contributions 2.9 2.7 15.0 17.7
Benefits paid (4.4) (4.2) (6.7) (5.6)
Currency exchange rate changes ——4.9 10.5
Fair value of plan assets, end of year $ 39.1 $ 36.0 $ 305.8 $ 296.4
Funded Status at End of Year
Funded status, end of year $ (14.7)$ (25.9) $ (25.8)$ (18.8)
Amounts Recognized
Noncurrent assets $ 17.2 $ 11.6 $ 30.8 $ 31.4
Current liabilities (2.9) (2.9) (0.2) (0.3)
Noncurrent liabilities (29.0) (34.6) (56.4) (49.9)
Net amount recognized $ (14.7)$ (25.9) $ (25.8)$ (18.8)
Amounts recognized in accumulated other comprehensive income, net of tax, consist of:
United States Plans Non-United States Plans
December 31 2013 2012 2013 2012
Net loss $9.5 $15.8 $ 25.3 $14.8
Prior service cost 0.1 0.1 4.8 6.3
Total $9.6 $15.9 $ 30.1 $21.1
The accumulated benefit obligation for our plans that have plan assets was $291.7 and $272.8 as of December 31, 2013
and 2012, respectively. The accumulated benefit obligation for certain of our plans exceeded the fair value of plan assets
as follows:
December 31 2013 2012
Accumulated benefit obligation $ 10.3 $ 9.2
Plan assets 9.8 8.5