XML 25 R18.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Goodwill and Other Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2024
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:
|  | June 30, 2024 |  |  | December 31, 2023 |
|  | Gross |  |  | Accumulated Amortization |  |  | Net |  |  | Gross |  |  | Accumulated Amortization |  |  | Net |
Goodwill(a) |  | $ | 1,573.2 |  |  | $ | — |  |  | $ | 1,573.2 |  |  | $ | 1,586.8 |  |  | $ | — |  |  | $ | 1,586.8 |
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Finite-lived: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | $ | 819.4 |  |  | $ | 498.0 |  |  | $ | 321.4 |  |  | $ | 824.9 |  |  | $ | 486.0 |  |  | $ | 338.9 |
Other |  |  | 21.2 |  |  |  | 21.2 |  |  |  | — |  |  |  | 21.5 |  |  |  | 21.2 |  |  |  | 0.3 |
|  |  | 840.6 |  |  |  | 519.2 |  |  |  | 321.4 |  |  |  | 846.4 |  |  |  | 507.2 |  |  |  | 339.2 |
Indefinite-lived: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Tradenames(b) |  |  | 52.0 |  |  |  | — |  |  |  | 52.0 |  |  |  | 52.0 |  |  |  | — |  |  |  | 52.0 |
Reacquired franchise rights |  |  | 126.4 |  |  |  | — |  |  |  | 126.4 |  |  |  | 128.4 |  |  |  | — |  |  |  | 128.4 |
|  |  | 178.4 |  |  |  | — |  |  |  | 178.4 |  |  |  | 180.4 |  |  |  | — |  |  |  | 180.4 |
Total intangible assets |  | $ | 1,019.0 |  |  | $ | 519.2 |  |  | $ | 499.8 |  |  | $ | 1,026.8 |  |  | $ | 507.2 |  |  | $ | 519.6 |
(a) Balances were net of accumulated impairment loss of $749.3 as of both June 30, 2024 and December 31, 2023. (b) Balances were net of accumulated impairment loss of $139.5 as of both June 30, 2024 and December 31, 2023. Total consolidated amortization expense related to intangible assets for the remainder of 2024 is expected to be $16.2 and in each of the next five years as follows: 2025 - $30.3, 2026 - $26.8, 2027 - $26.2, 2028 - $26.2 and 2029 - $26.2. Changes in the carrying value of goodwill by reportable segment and Corporate were as follows:
|  | Americas(a) |  |  | Southern Europe(b) |  |  | Northern Europe |  |  | APME |  |  | Corporate(c) |  |  | Total |
Balance, December 31, 2023 |  | $ | 1,050.4 |  |  | $ | 154.7 |  |  | $ | 188.0 |  |  | $ | 67.7 |  |  | $ | 126.0 |  |  | $ | 1,586.8 |
Currency impact |  |  | (1.5 | ) |  |  | (6.0 | ) |  |  | (3.0 | ) |  |  | (3.1 | ) |  |  | — |  |  |  | (13.6 | )
Balance, June 30, 2024 |  | $ | 1,048.9 |  |  | $ | 148.7 |  |  | $ | 185.0 |  |  | $ | 64.6 |  |  | $ | 126.0 |  |  | $ | 1,573.2 |
(a) Balances related to the United States w ere $1,005.8 as of both December 31, 2023 and June 30, 2024. Effective January 1, 2024, our segment reporting was realigned to include our Puerto Rico business within Other Americas. Accordingly, United States is now adjusted to exclude Puerto Rico. All previously reported results have been restated to conform to the current year presentation. (b) Balances related to France were $75.6 and $73.4 as of December 31, 2023 and June 30, 2024, respectively. Balances related to Italy were $3.8 and $3.7 as of December 31, 2023 and June 30, 2024, respectively. (c) The majority of the Corporate balance relates to goodwill attributable to our acquisitions of Right Management ($62.1) and Jefferson Wells ($55.5). Jefferson Wells is part of the United States reporting unit. Right Management is allocated to the reporting units of the countries in which Right Management operates. For purposes of monitoring our total assets by segment, we do not allocate the Corporate balances 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.

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://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration