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ManpowerGroup | Annual Report 2014 65
Notes to Consolidated Financial Statements
Note 03. Share-Based Compensation Plans
We account for share-based payments according to the accounting guidance on share-based payments. During 2014,
2013 and 2012, we recognized $40.6, $31.5 and $30.0, respectively, in share-based compensation expense related to
stock options, deferred stock, restricted stock and performance share units, all of which is recorded in selling and
administrative expenses. The total income tax benefit recognized related to share-based compensation during 2014, 2013
and 2012 was $12.2, $21.2 and $2.4, respectively. Consideration received from share-based awards for 2014, 2013 and
2012 was $25.5, $101.0 and $6.0, respectively. The excess income tax benefit/(deficit) recognized related to share-based
compensation awards, which is recorded in capital in excess of par value, for 2014, 2013 and 2012 was approximately $4.6,
$8.4 and $(2.1), respectively. We recognize compensation expense on grants of share-based compensation awards on a
straight-line basis over the vesting period of each award.
Stock Options
All share-based compensation is granted under the 2011 Equity Incentive Plan of Manpower Inc. (“2011 Plan”). Options and
stock appreciation rights are granted at a price not less than 100% of the fair market value of the common stock at the date
of grant. Generally, options are granted with a ratable vesting period of up to four years and expire ten years from date of
grant. No stock appreciation rights had been granted or were outstanding as of December 31, 2014 or 2013.
A summary of stock option activity is as follows:
Shares (000)
Wtd. Avg.
Exercise Price
Per Share
Wtd. Avg.
Remaining
Contractual Term
(years)
Aggregate
Intrinsic Value
(in millions)
Outstanding, January 1, 2012 5,265 $50
Granted 302 45
Exercised (116) 34 $ 1
Expired or cancelled (107) 51
Outstanding, December 31, 2012 5,344 $50 5.0 $14
Vested or expected to vest, December 31, 2012 5,326 $50 4.9
Exercisable, December 31, 2012 4,210 $51 4.3 $11
Outstanding, January 1, 2013 5,344 $50
Granted 221 53
Exercised (2,576) 43 $63
Expired or cancelled (206) 51
Outstanding, December 31, 2013 2,783 $57 5.1 $81
Vested or expected to vest, December 31, 2013 2,769 $57 4.8
Exercisable, December 31, 2013 2,153 $58 4.2 $60
Outstanding, January 1, 2014 2,783 $57
Granted 204 77
Exercised (473) 53 $13
Expired or cancelled (30) 43
Outstanding, December 31, 2014 2,484 $59 4.7 $28
Vested or expected to vest, December 31, 2014 2,476 $59 4.5
Exercisable, December 31, 2014 1,957 $59 3.7 $23