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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2011
Summary of Significant Accounting Policies [Abstract] |
Changes in reorganization costs by segment | Changes in the reorganization liability balances for each reportable segment and Corporate are as follows. This presentation reflects the realignment of our segments. See Note 14 for further information.
|  |  |  |  | Southern |  |  | Northern |  |  |  |  |  | Right |  |  |  |  |  |  |
|  | Americas(1 | ) |  | Europe(2 | ) |  | Europe |  |  | APME |  |  | Management |  |  | Corporate |  |  | Total |
Balance, January 1, 2010 | $ | 4.1 |  | $ | 5.7 |  | $ | 9.5 |  | $ | 1.5 |  | $ | 0.4 |  | $ | – |  | $ | 21.2 |
Severance costs, net |  | 3.8 |  |  | 0.3 |  |  | 3.2 |  |  | 0.7 |  |  | 10.8 |  |  | 1.2 |  |  | 20.0 |
Office closure costs, net |  | 3.8 |  |  | 3.7 |  |  | – |  |  | – |  |  | 8.6 |  |  | – |  |  | 16.1 |
Costs paid or utilized |  | (4.3 | ) |  | (4.1 | ) |  | (7.7 | ) |  | (1.5 | ) |  | (5.4 | ) |  | (0.1 | ) |  | (23.1 | )
Balance, December 31, 2010 |  | 7.4 |  |  | 5.6 |  |  | 5.0 |  |  | 0.7 |  |  | 14.4 |  |  | 1.1 |  |  | 34.2 |
Severance costs, net |  | 2.1 |  |  | 1.1 |  |  | 5.5 |  |  | 0.5 |  |  | 3.1 |  |  | – |  |  | 12.3 |
Office closure costs, net |  | 0.3 |  |  | 0.4 |  |  | 7.7 |  |  | – |  |  | 2.4 |  |  | – |  |  | 10.8 |
Costs paid or utilized |  | (5.8 | ) |  | (2.9 | ) |  | (6.4 | ) |  | – |  |  | (11.7 | ) |  | (1.1 | ) |  | (27.9 | )
Balance, December 31, 2011 | $ | 4.0 |  | $ | 4.2 |  | $ | 11.8 |  | $ | 1.2 |  | $ | 8.2 |  | $ | – |  | $ | 29.4 |
(1) | Balance related to United States was $3.9 as of January 1, 2010. In 2010, United States incurred $3.6 for severance costs and $3.8 for office closure costs and paid $3.9, leaving a $7.4 liability as of December 31, 2010. In 2011, United States incurred $1.3 for severance costs and $0.3 for office closure costs and paid $5.7, leaving a $3.3 liability as of December 31, 2011.
(2) | 2010 Balances were solely related to France. In 2011, France incurred $0.4 for office closure costs and paid/utilized $2.5, leaving a $3.5 liability as of December 31, 2011. Italy recorded severance costs of $0.9 and paid out $0.5 during 2011, leaving a $0.4 liability as of December 31, 2011.
Fair value of assets and liabilities measured on a recurring basis | 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 |  |  |  |  |  |  |  |  |  |  |  | Quoted |  |  |  |  |  |  |
|  |  |  |  | Prices |  |  |  |  |  |  |  |  |  |  |  | Prices |  |  |  |  |  |  |
|  |  |  |  | in Active |  |  | Significant |  |  |  |  |  |  |  |  | in Active |  |  | Significant |  |  |  |
|  |  |  |  | Markets for |  |  | Other |  |  | Significant |  |  |  |  |  | Markets for |  |  | Other |  |  | Significant |
|  |  |  |  | Identical |  |  | Observable |  |  | Unobservable |  |  |  |  |  | Identical |  |  | Observable |  |  | Unobservable |
|  | December 31, |  |  | Assets |  |  | Inputs |  |  | Inputs |  |  | December 31, |  |  | Assets |  |  | Inputs |  |  | Inputs |
|  | 2011 |  |  | (Level 1 | ) |  | (Level 2 | ) |  | (Level 3 | ) |  | 2010 |  |  | (Level 1 | ) |  | (Level 2 | ) |  | (Level 3 | )
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities | $ | 0.4 |  | $ | 0.4 |  | $ | – |  | $ | – |  | $ | 0.4 |  | $ | 0.4 |  | $ | – |  | $ | – |
Foreign currency forward contracts |  | – |  |  | – |  |  | – |  |  | – |  |  | 0.1 |  |  | – |  |  | 0.1 |  |  | – |
Deferred compensation plan assets |  | 45.2 |  |  | 45.2 |  |  | – |  |  | – |  |  | 40.3 |  |  | 40.3 |  |  | – |  |  | – |
| $ | 45.6 |  | $ | 45.6 |  | $ | – |  | $ | – |  | $ | 40.8 |  | $ | 40.7 |  | $ | 0.1 |  | $ | – |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency forward contracts | $ | 0.3 |  | $ | – |  | $ | 0.3 |  | $ | – |  | $ | – |  | $ | – |  | $ | – |  | $ | – |
| $ | 0.3 |  | $ | – |  | $ | 0.3 |  | $ | – |  | $ | – |  | $ | – |  | $ | – |  | $ | – |
Fair value of assets measured on a non-recurring basis | We also measured certain non-financial assets on a non-recurring basis, including Goodwill and tradenames, for which we recognized impairment charges in 2010 and were summarized as follows:
|  | Fair Value Measurements Using |
|  |  |  |  | Quoted Prices in |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Active Markets |  |  | Significant Other |  |  | Significant |  |  |  |
|  |  |  |  | for Identical |  |  | Observable |  |  | Unobservable |  |  |  |
|  | December 31, 2010 |  |  | Assets (Level 1 | ) |  | Inputs (Level 2 | ) |  | Inputs (Level 3 | ) |  | Total Losses |
Goodwill | $ | 954.1 |  | $ | – |  | $ | – |  | $ | 954.1 |  | $ | (311.6 | )
Tradenames |  | 55.3 |  |  | – |  |  | – |  |  | 55.3 |  |  | (117.2 | )
|  |  |  |  |  |  |  |  |  |  |  |  | $ | (428.8 | )
Goodwill and intangible assets | We have Goodwill, amortizable Intangible assets and Intangible assets that do not require amortization, as follows:
|  | 2011 |  |  | 2010 |
|  |  |  |  | Accumulated |  |  |  |  |  |  |  |  | Accumulated |  |  |  |
December 31 |  | Gross |  |  | Amortization |  |  | Net |  |  | Gross |  |  | Amortization |  |  | Net |
Goodwill | $ | 984.7 |  | $ | – |  | $ | 984.7 |  | $ | 954.1 |  | $ | – |  | $ | 954.1 |
Intangible Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Amortizable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Technology | $ | 19.6 |  | $ | 19.6 |  | $ | – |  | $ | 19.6 |  | $ | 19.6 |  | $ | – |
Franchise Agreements |  | 18.0 |  |  | 14.3 |  |  | 3.7 |  |  | 18.0 |  |  | 12.5 |  |  | 5.5 |
Customer Relationships |  | 328.0 |  |  | 130.1 |  |  | 197.9 |  |  | 309.4 |  |  | 94.3 |  |  | 215.1 |
Other |  | 13.5 |  |  | 12.1 |  |  | 1.4 |  |  | 14.0 |  |  | 11.7 |  |  | 2.3 |
|  | 379.1 |  |  | 176.1 |  |  | 203.0 |  |  | 361.0 |  |  | 138.1 |  |  | 222.9 |
Non-Amortizable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames(1) |  | 54.0 |  |  | – |  |  | 54.0 |  |  | 55.3 |  |  | – |  |  | 55.3 |
Reacquired Franchise Rights |  | 97.9 |  |  | – |  |  | 97.9 |  |  | 98.0 |  |  | – |  |  | 98.0 |
|  | 151.9 |  |  | – |  |  | 151.9 |  |  | 153.3 |  |  | – |  |  | 153.3 |
Total Intangible Assets | $ | 531.0 |  | $ | 176.1 |  | $ | 354.9 |  | $ | 514.3 |  | $ | 138.1 |  | $ | 376.2 |
(1) Balances were net of accumulated impairment loss of $139.5 as of both December 31, 2011 and 2010.
Property and equipment | PROPERTY AND EQUIPMENT A summary of Property and equipment as of December 31 is as follows:
|  | 2011 |  |  | 2010 |
Land | $ | 7.3 |  | $ | 7.1 |
Buildings |  | 21.5 |  |  | 19.5 |
Furniture, fixtures, and autos |  | 194.9 |  |  | 197.0 |
Computer equipment |  | 164.4 |  |  | 168.0 |
Leasehold improvements |  | 297.5 |  |  | 297.2 |
Property and equipment | $ | 685.6 |  | $ | 688.8 |

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