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Notes to Consolidated Financial Statements ManpowerGroup 2013 Annual Report 77
DEFINED CONTRIBUTION PLANS AND DEFERRED COMPENSATION PLANS
We have defined contribution plans covering substantially all permanent United States employees and various other
employees throughout the world. Employees may elect to contribute a portion of their salary to the plans and we match a
portion of their contributions up to a maximum percentage of the employee’s salary. In addition, profit sharing contributions
are made if a targeted earnings level is reached. The total expense for our match and any profit sharing contributions was
$22.4, $21.5 and $24.6 for the years ended December 31, 2013, 2012 and 2011, respectively.
We also have deferred compensation plans in the United States. One of the plans had an asset and liability of $69.4 and
$55.5 as of December 31, 2013 and 2012, respectively.
09.
Accumulated Other Comprehensive Income
The components of accumulated other comprehensive income, net of tax, were as follows:
December 31 2013 2012
Foreign currency translation $ 239.5 $ 186.8
Translation loss on net investment hedge, net of income taxes of $(36.7) and $(31.3), respectively (60.6) (51.1)
Translation loss on long-term intercompany loans (73.6) (73.4)
Unrealized gain on investments, net of income taxes of $1.6 and $3.9, respectively 11.5 11.8
Defined benefit pension plans, net of income taxes of $(21.8) and $(22.6), respectively (39.7) (37.0)
Retiree health care plan, net of income taxes of $2.7 and $(1.7), respectively 5.1 (2.7)
Accumulated other comprehensive income $ 82.2 $ 34.4
10.
Leases
We lease property and equipment primarily under operating leases. Renewal options exist for substantially all leases. Future
minimum payments, by year and in the aggregate, under noncancelable operating leases with any remaining terms consist
of the following as of December 31, 2013:
Year
2014 $186.2
2015 139.0
2016 106.7
2017 77.4
2018 59.4
Thereafter 119.7
Total minimum lease payments $688.4
Rental expense for all operating leases was $232.9, $245.1 and $254.3 for the years ended December 31, 2013, 2012 and
2011, respectively.
11.
Interest and Other Expenses
Interest and other expenses consisted of the following:
Year Ended December 31 2013 2012 2011
Interest expense $ 37.1 $ 41.8 $ 42.8
Interest income (3.7) (6.6) (7.3)
Foreign exchange losses 2.3 0.9 2.8
Miscellaneous expenses, net 0.7 7.2 6.0
Interest and other expenses $ 36.4 $ 43.3 $ 44.3