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Notes to Consolidated Financial Statements ManpowerGroup 2013 Annual Report 73
The projected benefit obligation for certain of our plans exceeded the fair value of plan assets as follows:
December 31 2013 2012
Projected benefit obligation $ 53.4 $ 16.7
Plan assets 44.8 12.4
By their nature, certain of our plans do not have plan assets. The accumulated benefit obligation for these plans was $68.4
and $70.0 as of December 31, 2013 and 2012, respectively.
The components of the net periodic benefit cost and other amounts recognized in other comprehensive loss for all plans
were as follows:
Year Ended December 31 2013 2012 2011
Service cost $ 8.7 $ 10.4 $ 9.9
Interest cost 14.8 15.1 15.5
Expected return on assets (13.2) (14.7) (15.2)
Curtailment and settlement (2.3) — (1.0)
Net loss (gain) 3.3 1.1 (0.2)
Prior service cost 0.5 0.7 0.7
Net periodic benefit cost 11.8 12.6 9.7
Other Changes in Plan Assets and Benefit Obligations
Recognized in Other Comprehensive Loss
Net loss 6.8 15.4 11.6
Prior service credit (1.1) — —
Amortization of net (loss) gain (3.3) (1.1) 0.2
Amortization of prior service cost (0.5) (0.7) (0.7)
Total recognized in other comprehensive loss 1.9 13.6 11.1
Total recognized in net periodic benefit cost and other comprehensive loss $ 13.7 $ 26.2 $ 20.8
Effective January 1, 2013, we amended a defined benefit plan in the Netherlands. The defined benefit plan was frozen, and
the participants were transitioned to a defined contribution plan, resulting in a curtailment gain of $2.3.
Effective July 1, 2011, we completed a voluntary transition of our Norwegian employees from defined pension plans to
defined contribution plans, resulting in a curtailment and settlement gain of $1.0.
The estimated net loss and prior service cost for the defined benefit pension plans that will be amortized from accumulated
other comprehensive loss into net periodic benefit cost during 2014 are $3.3 and $0.5, respectively.
The weighted-average assumptions used in the measurement of the benefit obligation were as follows:
United States Plans Non-United States Plans
Year Ended December 31 2013 2012 2013 2012
Discount rate 4.6% 3.7% 4.1% 4.2%
Rate of compensation increase 3.0% 3.0% 3.8% 3.6%
The weighted-average assumptions used in the measurement of the net periodic benefit cost were as follows:
United States Plans Non-United States Plans
Year Ended December 31 2013 2012 2011 2013 2012 2011
Discount rate 3.7% 4.6% 5.1% 4.2% 4.7% 5.1%
Expected long-term return on plan assets 6.0% 6.3% 7.0% 4.0% 4.7% 5.3%
Rate of compensation increase 3.0% 3.0% 4.0% 3.6% 4.0% 4.3%
We determine our assumption for the discount rate based on an index of high-quality corporate bond yields and matched-
funding yield curve analysis as of the end of each fiscal year.