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ManpowerGroup | Annual Report 2014 79
Notes to Consolidated Financial Statements
United States Plans Non-United States Plans
Fair Value Measurements Using Fair Value Measurements Using
December 31,
2013
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
December 31,
2013
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Asset Category
Cash and cash
equivalents
(1)
$ 0.9 $ 0.9 $ — $— $ 1.7 $ 1.7 $ — $ —
Equity securities:
United States
companies 15.5 15.5 — — — — — —
International companies — — — — 36.6 36.6 — —
Fixed income securities:
Government bonds
(2)
22.7 — 22.7 — — — — —
Guaranteed insurance
contracts — — — — 44.8 — 44.8 —
Annuity contract — — — — 33.4 — 33.4 —
Other types of
investments:
Unitized funds
(3)
— — — — 101.3 101.3 — —
Insurance contract — — — — 80.9 — — 80.9
Real estate funds — — — — 7.1 — 7.1 —
$39.1 $16.4 $22.7 $— $305.8 $139.6 $85.3 $80.9
(1) This category includes a prime obligations money market portfolio.
(2) This category includes United States Treasury/Federal agency securities and foreign government securities.
(3) This category includes investments in approximately 80% fixed income securities and 20% equity securities.
The following table summarizes the changes in fair value of the insurance contract, which is measured using Level 3 inputs.
These contracts were purchased upon amendment of our Dutch pension plan effective as of January 1, 2013. We determine
that transfers between fair-value-measurement levels occur on the date of the event that caused the transfer.
Year Ended December 31 2014 2013
Balance, beginning of year $ 80.9 $ —
Transfers into Level 3 —85.9
Unrealized gain (loss) 37.6 (7.7)
Purchases, sales and settlements, net (0.6) (0.6)
Currency exchange rate changes (13.0) 3.3
Balance, end of year $ 104.9 $ 80.9