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Segment Data (Tables)
6 Months Ended
Jun. 30, 2019
Segment Reporting [Abstract]  
Schedule of Segment Data

 

 

3 Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Revenues from services:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States (a)

 

$

630.9

 

 

$

640.5

 

 

$

1,234.5

 

 

$

1,256.8

 

Other Americas

 

 

412.5

 

 

 

412.0

 

 

 

816.2

 

 

 

818.3

 

 

 

 

1,043.4

 

 

 

1,052.5

 

 

 

2,050.7

 

 

 

2,075.1

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,420.2

 

 

 

1,512.5

 

 

 

2,721.6

 

 

 

2,936.5

 

Italy

 

 

394.0

 

 

 

443.0

 

 

 

749.9

 

 

 

856.6

 

Other Southern Europe

 

 

573.0

 

 

 

478.5

 

 

 

1,017.9

 

 

 

952.9

 

 

 

 

2,387.2

 

 

 

2,434.0

 

 

 

4,489.4

 

 

 

4,746.0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

1,183.2

 

 

 

1,393.2

 

 

 

2,372.9

 

 

 

2,810.8

 

APME

 

 

708.9

 

 

 

724.8

 

 

 

1,408.8

 

 

 

1,445.0

 

Right Management

 

 

50.4

 

 

 

52.4

 

 

 

96.2

 

 

 

102.4

 

Consolidated (b)

 

$

5,373.1

 

 

$

5,656.9

 

 

$

10,418.0

 

 

$

11,179.3

 

Operating unit profit: (c)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

32.2

 

 

$

38.2

 

 

$

48.6

 

 

$

64.9

 

Other Americas

 

 

17.3

 

 

 

18.5

 

 

 

32.1

 

 

 

34.7

 

 

 

 

49.5

 

 

 

56.7

 

 

 

80.7

 

 

 

99.6

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

75.7

 

 

 

73.0

 

 

 

131.2

 

 

 

130.7

 

Italy

 

 

29.8

 

 

 

31.9

 

 

 

50.2

 

 

 

57.1

 

Other Southern Europe

 

 

18.0

 

 

 

16.8

 

 

 

29.0

 

 

 

31.6

 

 

 

 

123.5

 

 

 

121.7

 

 

 

210.4

 

 

 

219.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

24.3

 

 

 

24.7

 

 

 

24.9

 

 

 

41.3

 

APME

 

 

28.1

 

 

 

29.2

 

 

 

48.2

 

 

 

55.1

 

Right Management

 

 

9.0

 

 

 

10.5

 

 

 

11.1

 

 

 

16.9

 

 

 

 

234.4

 

 

 

242.8

 

 

 

375.3

 

 

 

432.3

 

Corporate expenses

 

 

(31.9

)

 

 

(25.9

)

 

 

(59.8

)

 

 

(52.7

)

Goodwill impairment charge

 

 

(64.0

)

 

 

-

 

 

 

(64.0

)

 

 

-

 

Intangible asset amortization expense

 

 

(7.7

)

 

 

(8.6

)

 

 

(15.2

)

 

 

(17.5

)

Operating profit

 

 

130.8

 

 

 

208.3

 

 

 

236.3

 

 

 

362.1

 

Interest and other (income) expenses, net

 

 

70.2

 

 

 

(10.5

)

 

 

58.3

 

 

 

(26.6

)

Earnings before income taxes

 

$

201.0

 

 

$

197.8

 

 

$

294.6

 

 

$

335.5

 

 

(a)

In the United States, revenues from services included fees received from the related franchise offices of $3.7 and $3.9 for the three months ended June 30, 2019 and 2018, and $7.3 and $7.1 for the six months ended June 30, 2019 and June 30, 2018, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $154.3 and $166.7 for the three months ended three months ended June 30, 2019 and 2018, respectively, and $311.2 and $315.7 six months ended June 30, 2019 and June 30, 2018 respectively.

(b)

Our consolidated revenues from services include fees received from our franchise offices of $4.1 and $6.2 for the three months ended three months ended June 30, 2019 and 2018, respectively, and $9.7 and $11.4 for the six months ended June 30, 2019 and June 30, 2018, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $163.2 and $273.9 for the three months ended June 30, 2019 and 2018, respectively, and $406.2 and $510.7 for the six months ended June 30, 2019 and June 30, 2018, respectively.

(c)

We evaluate segment performance based on operating unit profit (“OUP”), which is equal to segment revenues less cost of services and branch and national headquarters operating costs. This profit measure does not include goodwill and intangible asset impairment charges or amortization of intangibles related to acquisitions, corporate expenses, interest and other income and expense amounts or income taxes.