ManpowerGroup 2014 Annual Report Download - page 66

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Notes to Consolidated Financial Statements
In July 2013, the FASB issued new accounting guidance on presentation of an unrecognized tax benefit. The new guidance
requires that, in certain cases, an unrecognized tax benefit should be presented in the financial statements as a reduction
to the deferred tax asset when there is an existing net operating loss carryforward, a similar tax loss or an existing tax credit
carryforward. We adopted this guidance effective January 1, 2014. There was no impact of this adoption on our Consolidated
Financial Statements.
In April 2014, the FASB issued new accounting guidance on reporting discontinued operations and disclosures of disposals
of components of an entity. The new guidance changes the requirements for reporting discontinued operations. A
discontinued operation may include a component of an entity or a group of components of an entity. A disposal of a
component of an entity or a group of components of an entity is required to be reported in discontinued operations if the
disposal represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results and
when the component or group of components meets the criteria to be classified as held for sale, is disposed by sale or is
disposed of by other than by sale. The guidance is effective for us in 2015. We do not expect the adoption of this guidance
to have a material impact on our Consolidated Financial Statements.
In May 2014, the FASB issued new accounting guidance on revenue from contracts with customers. The core principle of
this amendment is that an entity should recognize revenue to depict the transfer of promised goods or services to customers
in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or
services. The guidance is effective for us in 2017 and can be adopted either retrospectively to each prior reporting period
presented or as a cumulative-effect adjustment as of the date of adoption. We are currently assessing the impact of the
adoption of this guidance on our Consolidated Financial Statements.
In September 2014, the FASB issued new accounting guidance on disclosure of uncertainties about an entity’s ability to
continue as a going concern. The new guidance requires an entity’s management to evaluate whether there are conditions
or events, considered in the aggregate, that raise substantial doubt about the entity’s ability to continue as a going concern
within one year after the date that the financial statements are issued, and if so, disclose that fact. Management is also
required to evaluate and disclose whether its plans alleviate that doubt. The guidance is effective for us in 2017 and will be
applicable to both annual and interim reporting periods. We do not expect the adoption of this guidance to have an impact
on our Consolidated Financial Statements.
Subsequent Events
We have evaluated events and transactions occurring after the balance sheet date through our filing date and noted no
events that are subject to recognition or disclosure.
Note 02. Acquisitions
From time to time, we acquire and invest in companies throughout the world, including franchises. The total cash
consideration paid for acquisitions, net of cash acquired, for the years ended December 31, 2014, 2013 and 2012 was
$32.0, $46.3 and $49.0, respectively. Goodwill and intangible assets resulting from the 2014 acquisitions, the majority of
which took place in the Netherlands and the United Kingdom, were $39.4 and $10.1, respectively, as of December 31, 2014.
Goodwill and intangible assets resulting from the 2013 acquisitions, the majority of which took place in the United Kingdom
and Norway, were $52.2 and $10.1 as of December 31, 2013, respectively.
In 2012, we acquired Damilo Group (“Damilo”), a French firm specializing in IT design solutions, for total consideration, net
of cash acquired, of €21.2 ($28.0). Goodwill arising from this transaction was €30.8 ($40.6). The assumed liabilities
and acquired assets, net of goodwill, related intangible assets and cash arising from the transaction were €33.8 ($44.6)
and €17.9 ($23.6), respectively. The related intangible assets were €5.0 ($6.8) and €4.2 ($5.1) as of December 31, 2013 and
December 31, 2014, respectively.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
in millions, except share and per share data