XML 75 R17.htm IDEA: XBRL DOCUMENT
v3.19.3

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | (9) Goodwill and Other Intangible Assets We have goodwill, finite-lived intangible assets and indefinite-lived intangible assets as follows:
|  | September 30, 2019 |  |  | December 31, 2018 |
|  | Gross |  |  | Accumulated Amortization |  |  | Net |  |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Goodwill(1) |  | $ | 1,231.8 |  |  | $ | — |  |  | $ | 1,231.8 |  |  | $ | 1,297.1 |  |  | $ | — |  |  | $ | 1,297.1 |
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finite-lived: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 458.8 |  |  | $ | 366.8 |  |  | $ | 92.0 |  |  | $ | 444.8 |  |  | $ | 351.7 |  |  | $ | 93.1 |
Other |  |  | 18.5 |  |  |  | 13.4 |  |  |  | 5.1 |  |  |  | 18.5 |  |  |  | 16.0 |  |  |  | 2.5 |
|  |  | 477.3 |  |  |  | 380.2 |  |  |  | 97.1 |  |  |  | 463.3 |  |  |  | 367.7 |  |  |  | 95.6 |
Indefinite-lived: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames(2) |  |  | 52.0 |  |  |  | — |  |  |  | 52.0 |  |  |  | 52.0 |  |  |  | — |  |  |  | 52.0 |
Reacquired franchise rights |  |  | 123.8 |  |  |  | — |  |  |  | 123.8 |  |  |  | 98.7 |  |  |  | — |  |  |  | 98.7 |
|  |  | 175.8 |  |  |  | — |  |  |  | 175.8 |  |  |  | 150.7 |  |  |  | — |  |  |  | 150.7 |
Total intangible assets |  | $ | 653.1 |  |  | $ | 380.2 |  |  | $ | 272.9 |  |  | $ | 614.0 |  |  | $ | 367.7 |  |  | $ | 246.3 |
(1) | Balances were net of accumulated impairment loss of $577.4 and $513.4 as of September 30, 2019 and December 31, 2018, respectively.
(2) | Balances were net of accumulated impairment loss of $139.5 as of both September 30, 2019 and December 31, 2018.
Total consolidated amortization expense related to intangible assets for the remainder of 2019 is expected to be $7.4 and in each of the next five years as follows: 2020- $24.7, 2021- $14.2, 2022- $11.0, 2023- $9.2, 2024- $8.0. Changes in the carrying value of goodwill by reportable segment and Corporate were as follows:
|  | Americas(1) |  |  | Southern Europe(2) |  |  | Northern Europe |  |  | APME |  |  | Right Management |  |  | Corporate(3) |  |  | Total |
Balance, December 31, 2018 |  | $ | 519.9 |  |  | $ | 112.2 |  |  | $ | 435.4 |  |  | $ | 102.0 |  |  | $ | 62.1 |  |  | $ | 65.5 |  |  | $ | 1,297.1 |
Goodwill acquired |  |  | 9.1 |  |  |  | 33.8 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 42.9 |
Goodwill allocated to business units sold(4) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (18.5 | ) |  |  | - |  |  |  | (1.6 | ) |  |  | (20.1 | )
Impairment charge(5) |  |  | - |  |  |  | - |  |  |  | (60.2 | ) |  |  | (3.8 | ) |  |  | - |  |  |  | - |  |  |  | (64.0 | )
Currency and other impacts |  |  | 0.9 |  |  |  | (5.1 | ) |  |  | (18.9 | ) |  |  | (1.0 | ) |  |  | - |  |  |  | - |  |  |  | (24.1 | )
Balance, September 30, 2019 |  | $ | 529.9 |  |  | $ | 140.9 |  |  | $ | 356.3 |  |  | $ | 78.7 |  |  | $ | 62.1 |  |  | $ | 63.9 |  |  | $ | 1,231.8 |
(1) Balances related to the United States were $476.5 and $485.2 as of December 31, 2018 and September 30, 2019, respectively.
(2) | Balances related to France were $68.9 and $65.5 as of December 31, 2018 and September 30, 2019, respectively. Balances related to Italy were $4.8 and $4.5 as of December 31, 2018 and September 30, 2019, respectively.
(3) | The majority of the Corporate balance relates to goodwill attributable to our acquisition of Jefferson Wells ($55.5) which is now part of the United States reporting unit. For purposes of monitoring our total assets by segment, we do not allocate the Corporate balance to the respective reportable segments as this is commensurate with how we operate our business. We do, however, include these balances within the appropriate reporting units for our goodwill impairment testing. See table below for the breakout of goodwill balances by reporting unit.
(4) Reductions relate to our China and Hong Kong reporting units, which were deconsolidated as of July 10, 2019. See Note 5 to the Consolidated Financial Statements for further information. (5) The impairment charges of $60.2 and $3.8 relate to our Germany and New Zealand reporting units, respectively, which were recorded during the second quarter of 2019. See Note 1 to the Consolidated Financial Statements for further information. Goodwill balances by reporting unit were as follows:
|  | September 30, |  |  | December 31, |
|  | 2019 |  |  | 2018 |
United States |  | $ | 540.7 |  |  | $ | 532.0 |
Netherlands |  |  | 106.5 |  |  |  | 112.0 |
United Kingdom |  |  | 90.2 |  |  |  | 93.7 |
France |  |  | 65.5 |  |  |  | 68.9 |
Germany |  |  | 64.8 |  |  |  | 129.2 |
Right Management |  |  | 62.1 |  |  |  | 62.1 |
Other reporting units |  |  | 302.0 |  |  |  | 299.2 |
Total goodwill |  | $ | 1,231.8 |  |  | $ | 1,297.1 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration