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ManpowerGroup | Annual Report 2014 59
Notes to Consolidated Financial Statements
remaining $12.9 reserve will be paid by the end of 2015. Changes in the restructuring liability balances for each reportable
segment and Corporate are as follows:
Americas
(1)
Southern
Europe
(2)
Northern
Europe APME
Right
Management Corporate Total
Balance, January 1, 2013 $ 4.5 $ 4.7 $ 15.6 $ — $ 6.6 $ 10.0 $ 41.4
Severance costs, net 15.2 6.2 24.7 2.7 9.1 4.4 62.3
Office closure costs, net 2.8 1.6 14.3 3.5 4.9 — 27.1
Costs paid or utilized (15.7) (8.0) (32.4) (4.4) (8.3) (13.6) (82.4)
Balance, December 31, 2013 6.8 4.5 22.2 1.8 12.3 0.8 48.4
Costs paid or utilized (5.7) (2.2) (16.4) (1.3) (10.0) 0.1 (35.5)
Balance, December 31, 2014 $ 1.1 $ 2.3 $ 5.8 $ 0.5 $ 2.3 $ 0.9 $ 12.9
(1) Balance related to United States was $3.8 as of January 1, 2013. In 2013, United States incurred $7.8 for severance costs and $1.8 for
office closure costs and paid/utilized $8.3, leaving a $5.1 liability as of December 31, 2013. In 2014, United States paid/utilized $4.1,
leaving a $1.0 liability as of December 31, 2014.
(2) Balance related to France was $3.8 as of January 1, 2013. In 2013, France incurred $0.6 for severance costs and $1.6 for office closure
costs and paid/utilized $2.5, leaving a $3.5 liability as of December 31, 2013. In 2014, France paid/utilized $1.4, leaving a $2.1 liability as
of December 31, 2014. Italy had a $0.9 liability as of January 1, 2013. In 2013, Italy recorded severance costs of $3.4 and paid out $3.4,
leaving a $0.9 liability as of December 31, 2013. In 2014, Italy paid/utilized $0.9, leaving no liability as of December 31, 2014.
Income Taxes
We account for income taxes in accordance with the accounting guidance on income taxes. Deferred tax assets and
liabilities are recognized for the future tax consequences attributable to differences between financial statement carrying
amounts of existing assets and liabilities and their respective tax basis, and net operating loss and tax credit carryforwards.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in
which those temporary differences are expected to be recovered or settled. We record a valuation allowance against
deferred tax assets for which utilization of the asset is not likely.
Fair Value Measurements
The assets and liabilities measured and recorded at fair value on a recurring basis were as follows:
Fair Value Measurements Using Fair Value Measurements Using
Quoted
Prices in
Active
Markets for
Identical
Significant
Other
Observable
Significant
Unobservable
Quoted
Prices in
Active
Markets for
Identical
Significant
Other
Observable
Significant
Unobservable
December 31,
2014
Assets
(Level 1)
Inputs
(Level 2)
Inputs
(Level 3)
December 31,
2013
Assets
(Level 1)
Inputs
(Level 2)
Inputs
(Level 3)
Assets
Foreign currency forward
contracts $ 0.1 $ — $0.1 $— $ 0.3 $ — $0.3 $—
Deferred compensation
plan assets 81.4 81.4 — — 71.6 71.6 — —
$81.5 $81.4 $0.1 $— $71.9 $71.6 $0.3 $—