8-K
false000087176300008717632022-07-192022-07-19

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 19, 2022

 

MANPOWERGROUP INC.

(Exact name of registrant as specified in its charter)

 

Wisconsin

 

1-10686

 

39-1672779

(State or other jurisdiction of incorporation)

 

(Commission File Number)

 

(IRS Employer Identification No.)

 

100 Manpower Place

 

 

Milwaukee, Wisconsin

 

53212

(Address of principal executive offices)

 

(Zip Code)

 

Registrant's telephone number, including area code: (414) 961-1000

 

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $.01 par value

MAN

New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. 

 

 

 


 

Item 2.02 Results of Operations and Financial Condition

 

The information in this Item 2.02, including exhibit 99.1 attached hereto, is furnished solely pursuant to Item 2.02 of Form 8-K. Consequently, such information is not deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liabilities of that section. Further, the information in this Item 2.02, including exhibit 99.1, shall not be deemed to be incorporated by reference into the filings of the registrant under the Securities Act of 1933.

On July 19, 2022, we issued a press release announcing our results of operations for the three and six months ended June 30, 2022 and 2021. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

Item 9.01. Exhibits

 

Exhibit No.

 

Description

99.1

 

Press Release dated July 19, 2022

99.2

 

Presentation materials for July 19, 2022 Conference Call

104

 

Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

 

 

 

 

 

 

 

 


 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

MANPOWERGROUP INC.

 

 

 

 

 

 

 

Dated:

 

July 19, 2022

 

 

By:

 

/s/ John T. McGinnis

 

 

 

 

Name:

 

John T. McGinnis

 

 

 

 

Title:

 

Executive Vice President and

Chief Financial Officer

 

 


EX-99.1

 

Exhibit 99.1

 

https://cdn.kscope.io/6927e88e7356e782bbd76969f4f3f022-img66454475_0.jpg 

 

FOR IMMEDIATE RELEASE

 

Contact:

 

 

 

 

 

Nick Hengst

 

 

+1.414.906.7356

 

 

nicholas.hengst@manpowergroup.com

 

 

ManpowerGroup Reports 2nd Quarter 2022 Results

Revenues of $5.1 billion (-4% as reported, +6% constant currency (CC))
Gross profit margin of 18.2%, aided by high levels of permanent recruitment activity
Continued strong performance of higher margin brands with significant revenue growth in Experis and Talent Solutions. Manpower performance was more modest due to supply chain disruptions in certain European markets
Improved profitability with expanded EBITA and operating profit margins
$100 million of common stock repurchased during the quarter
Refinanced existing €400 million Euro Note, extending maturity from September 2022 to June 2027

 

MILWAUKEE, July 19, 2022 -- ManpowerGroup (NYSE: MAN) today reported net earnings of $2.29 per diluted share for the three months ended June 30, 2022 compared to $2.02 per diluted share in the prior year period. Net earnings in the quarter were $122.2 million compared to $111.6 million a year earlier. Revenues for the second quarter were $5.1 billion, a 4% decrease from the prior year period.

The current year quarter included integration costs from the U.S. Experis acquisition. These costs reduced earnings per share by $0.04 in the current quarter. Excluding these costs, earnings per share was $2.33 per diluted share in the quarter.

Financial results in the quarter were also impacted by the stronger U.S. dollar relative to foreign currencies compared to the prior year period, resulting in a 25 cent negative impact to earnings per share in the quarter compared to the prior year. This represented an additional 6 cent negative impact to earnings per share from foreign currency than anticipated in our second quarter guidance. On a constant currency basis, revenues increased 6% (3% in organic constant currency) compared to the prior year period. Excluding the net impact of integration costs, on a constant currency basis net earnings per diluted share increased 28% during the quarter.

Jonas Prising, ManpowerGroup Chairman & CEO, said, “Our second quarter results demonstrate the disciplined execution of our strategic initiatives and the continued strength of demand for our higher margin businesses. Overall, we made solid progress during the second quarter and believe that the continued execution of our Diversification, Digitization and Innovation strategy positions us well for ongoing

 


 

success. Notably, our ability to create talent at scale through our innovative MyPath and Experis Academy programs are clear differentiators in the market.

As we start the third quarter, labor markets remain very solid and demand for talent is strong. We continue to monitor those sectors in Europe where present-day supply-chain disruptions are impacting our business, particularly in the automotive industry. At the same time, we also believe the persistent level of talent shortage represents a significant opportunity for our business. We see this evidenced by the strong ongoing demand in our permanent recruitment services, in our RPO and MSP Talent Solution offerings, in our Experis IT resourcing and solutions, and across our Manpower Specializations.

We anticipate diluted earnings per share in the third quarter will be between $2.19 and $2.27, which includes an estimated unfavorable currency impact of 29 cents. Our guidance excludes expected integration costs ranging from $4 million to $6 million.”

Net earnings for the six months ended June 30, 2022 were $213.8 million, or net earnings of $3.97 per diluted share compared to net earnings of $173.6 million, or net earnings of $3.13 per diluted share in the prior year. The current year to date period included integration costs from the U.S. Experis acquisition and the net loss related to the sale of our Russia business in January which reduced earnings per share by 24 cents. Revenues for the six-month period were $10.2 billion, flat compared to the prior year or an increase of 8% in constant currency. Earnings per share for the six-month period were negatively impacted by 35 cents due to changes in foreign currencies compared to the prior year.

In conjunction with its second quarter earnings release, ManpowerGroup will broadcast its conference call live over the Internet on July 19, 2022 at 7:30 a.m. central time (8:30 a.m. eastern time). Prepared remarks for the conference call are included within the Investor Relations section of our website at manpowergroup.com. Interested parties are invited to listen to the webcast and view the presentation by logging on to http://investor.manpowergroup.com/in the section titled “Investor Relations.”

Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/.

 

 

 

 

 

 

 

 

 

 

 

 

 


 

About ManpowerGroup

ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis and Talent Solutions – creates substantially more value for candidates and clients across more than 75 countries and territories and has done so for over 70 years. We are recognized consistently for our diversity - as a best place to work for Women, Inclusion, Equality and Disability and in 2022 ManpowerGroup was named one of the World's Most Ethical Companies for the 13th year - all confirming our position as the brand of choice for in-demand talent.

 

Forward-Looking Statements

This news release contains statements, including statements regarding economic and geopolitical uncertainty, labor and financial outlook, and the Company’s strategic initiatives and brands that are forward-looking in nature and, accordingly, are subject to risks and uncertainties regarding the Company’s expected future results. The Company’s actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company’s reports filed with the SEC, including the information under the heading “Risk Factors” in its Annual Report on Form 10-K for the year ended December 31, 2021, as well as the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2022, which information is incorporated herein by reference.

 

 

 

###

 

 


 

ManpowerGroup

Results of Operations

(In millions, except per share data)

 

 

 

Three Months Ended June 30

 

 

 

 

 

 

 

 

 

% Variance

 

 

 

 

 

 

 

 

 

Amount

 

 

Constant

 

 

 

2022

 

 

2021

 

 

Reported

 

 

Currency

 

 

 

(Unaudited)

 

Revenues from services (a)

 

$

5,074.1

 

 

$

5,277.1

 

 

 

-3.8

%

 

 

5.7

%

Cost of services

 

 

4,152.9

 

 

 

4,417.0

 

 

 

-6.0

%

 

 

3.6

%

  Gross profit

 

 

921.2

 

 

 

860.1

 

 

 

7.1

%

 

 

16.4

%

Selling and administrative expenses

 

 

740.5

 

 

 

690.2

 

 

 

7.3

%

 

 

16.0

%

  Operating profit

 

 

180.7

 

 

 

169.9

 

 

 

6.3

%

 

 

18.1

%

Interest and other expenses, net

 

 

6.7

 

 

 

2.8

 

 

 

135.3

%

 

 

 

  Earnings before income taxes

 

 

174.0

 

 

 

167.1

 

 

 

4.1

%

 

 

15.5

%

Provision for income taxes

 

 

51.8

 

 

 

55.5

 

 

 

-6.7

%

 

 

 

  Net earnings

 

$

122.2

 

 

$

111.6

 

 

 

9.5

%

 

 

21.5

%

Net earnings per share - basic

 

$

2.32

 

 

$

2.05

 

 

 

13.2

%

 

 

 

Net earnings per share - diluted

 

$

2.29

 

 

$

2.02

 

 

 

13.4

%

 

 

25.7

%

Weighted average shares - basic

 

 

52.7

 

 

 

54.5

 

 

 

-3.3

%

 

 

 

Weighted average shares - diluted

 

 

53.4

 

 

 

55.4

 

 

 

-3.6

%

 

 

 

(a)
Revenues from services include fees received from our franchise offices of $3.9 million and $3.5 for the three months ended June 30, 2022 and 2021, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $275.6 million and $253.5 million for the three months ended June 30, 2022 and 2021, respectively.

 

 

 

 


 

ManpowerGroup

Operating Unit Results

(In millions)

 

 

 

Three Months Ended June 30

 

 

 

 

 

 

 

 

 

% Variance

 

 

 

 

 

 

 

 

 

Amount

 

 

Constant

 

 

 

2022

 

 

2021

 

 

Reported

 

 

Currency

 

 

 

(Unaudited)

 

Revenues from Services:

 

 

 

 

 

 

 

 

 

 

 

 

  Americas:

 

 

 

 

 

 

 

 

 

 

 

 

      United States (a)

 

$

903.9

 

 

$

628.8

 

 

 

43.7

%

 

 

43.7

%

      Other Americas

 

 

358.8

 

 

 

415.5

 

 

 

-13.6

%

 

 

-9.0

%

 

 

 

1,262.7

 

 

 

1,044.3

 

 

 

20.9

%

 

 

22.7

%

  Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

      France

 

 

1,238.2

 

 

 

1,346.8

 

 

 

-8.1

%

 

 

4.1

%

      Italy

 

 

454.3

 

 

 

469.1

 

 

 

-3.2

%

 

 

9.7

%

      Other Southern Europe

 

 

508.9

 

 

 

606.5

 

 

 

-16.1

%

 

 

-7.8

%

 

 

 

2,201.4

 

 

 

2,422.4

 

 

 

-9.1

%

 

 

2.2

%

  Northern Europe

 

 

1,027.1

 

 

 

1,190.5

 

 

 

-13.7

%

 

 

-2.4

%

  APME

 

 

603.7

 

 

 

619.9

 

 

 

-2.6

%

 

 

9.7

%

 

 

 

5,094.9

 

 

 

5,277.1

 

 

 

 

 

 

 

  Intercompany Eliminations

 

 

(20.8

)

 

 

 

 

 

 

 

 

 

 

 

 

5,074.1

 

 

 

5,277.1

 

 

 

-3.8

%

 

 

5.7

%

Operating Unit Profit:

 

 

 

 

 

 

 

 

 

 

 

 

  Americas:

 

 

 

 

 

 

 

 

 

 

 

 

      United States

 

$

64.7

 

 

$

38.0

 

 

 

70.3

%

 

 

70.3

%

      Other Americas

 

 

16.2

 

 

 

18.0

 

 

 

-10.4

%

 

 

-4.1

%

 

 

 

80.9

 

 

 

56.0

 

 

 

44.4

%

 

 

46.4

%

  Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

      France

 

 

62.3

 

 

 

65.7

 

 

 

-5.2

%

 

 

7.5

%

      Italy

 

 

35.5

 

 

 

31.7

 

 

 

12.0

%

 

 

27.1

%

      Other Southern Europe

 

 

13.9

 

 

 

17.9

 

 

 

-22.6

%

 

 

-16.6

%

 

 

 

111.7

 

 

 

115.3

 

 

 

-3.2

%

 

 

9.1

%

  Northern Europe

 

 

10.8

 

 

 

17.9

 

 

 

-39.1

%

 

 

-29.9

%

  APME

 

 

22.5

 

 

 

22.3

 

 

 

0.8

%

 

 

15.8

%

 

 

 

225.9

 

 

 

211.5

 

 

 

 

 

 

 

Corporate expenses

 

 

(35.8

)

 

 

(37.3

)

 

 

 

 

 

 

Intangible asset amortization expense

 

 

(9.4

)

 

 

(4.3

)

 

 

 

 

 

 

    Operating profit

 

 

180.7

 

 

 

169.9

 

 

 

6.3

%

 

 

18.1

%

Interest and other expenses, net (b)

 

 

(6.7

)

 

 

(2.8

)

 

 

 

 

 

 

    Earnings before income taxes

 

$

174.0

 

 

$

167.1

 

 

 

 

 

 

 

(a) In the United States, revenues from services include fees received from our franchise offices of $3.1 million and $3.0 million for the three months ended June 30, 2022 and 2021, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $128.1 million and $114.6 million for the three months ended June 30, 2022 and 2021, respectively.

(b) The components of interest and other expenses, net were:

 

 

2022

 

 

2021

 

Interest expense

 

$

10.6

 

 

$

9.7

 

Interest income

 

 

(2.8

)

 

 

(3.1

)

Foreign exchange loss

 

 

3.3

 

 

 

0.6

 

Miscellaneous income

 

 

(4.4

)

 

 

(4.4

)

 

 

$

6.7

 

 

$

2.8

 

 

 


 

ManpowerGroup

Results of Operations

(In millions, except per share data)

 

 

 

Six Months Ended June 30

 

 

 

 

 

 

 

 

 

% Variance

 

 

 

 

 

 

 

 

 

Amount

 

 

Constant

 

 

 

2022

 

 

2021

 

 

Reported

 

 

Currency

 

 

 

(Unaudited)

 

Revenues from services (a)

 

$

10,217.4

 

 

$

10,201.5

 

 

 

0.2

%

 

 

7.7

%

Cost of services

 

 

8,399.1

 

 

 

8,573.3

 

 

 

-2.0

%

 

 

5.5

%

  Gross profit

 

 

1,818.3

 

 

 

1,628.2

 

 

 

11.7

%

 

 

19.2

%

Selling and administrative expenses

 

 

1,498.9

 

 

 

1,359.9

 

 

 

10.2

%

 

 

17.1

%

  Operating profit

 

 

319.4

 

 

 

268.3

 

 

 

19.0

%

 

 

29.6

%

Interest and other expenses, net

 

 

9.4

 

 

 

8.2

 

 

 

13.6

%

 

 

 

  Earnings before income taxes

 

 

310.0

 

 

 

260.1

 

 

 

19.2

%

 

 

29.5

%

Provision for income taxes

 

 

96.2

 

 

 

86.5

 

 

 

11.2

%

 

 

 

  Net earnings

 

$

213.8

 

 

$

173.6

 

 

 

23.2

%

 

 

33.9

%

Net earnings per share - basic

 

$

4.02

 

 

$

3.17

 

 

 

26.8

%

 

 

 

Net earnings per share - diluted

 

$

3.97

 

 

$

3.13

 

 

 

26.8

%

 

 

38.0

%

Weighted average shares - basic

 

 

53.2

 

 

 

54.8

 

 

 

-3.1

%

 

 

 

Weighted average shares - diluted

 

 

53.8

 

 

 

55.5

 

 

 

-3.0

%

 

 

 

(a)
Revenues from services include fees received from our franchise offices of $7.5 million and $7.1 million for the six months ended June 30, 2022 and 2021, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $540.8 million and $502.6 million for the six months ended June 30, 2022 and 2021, respectively.

 

 


 

ManpowerGroup

Operating Unit Results

(In millions)

 

 

 

Six Months Ended June 30

 

 

 

 

 

 

 

 

 

% Variance

 

 

 

 

 

 

 

 

 

Amount

 

 

Constant

 

 

 

2022

 

 

2021

 

 

Reported

 

 

Currency

 

 

 

(Unaudited)

 

Revenues from Services:

 

 

 

 

 

 

 

 

 

 

 

 

  Americas:

 

 

 

 

 

 

 

 

 

 

 

 

      United States (a)

 

$

1,793.3

 

 

$

1,237.6

 

 

 

44.9

%

 

 

44.9

%

      Other Americas

 

 

720.6

 

 

 

809.6

 

 

 

-11.0

%

 

 

-7.5

%

 

 

 

2,513.9

 

 

 

2,047.2

 

 

 

22.8

%

 

 

24.2

%

  Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

      France

 

 

2,430.6

 

 

 

2,535.7

 

 

 

-4.1

%

 

 

5.8

%

      Italy

 

 

899.3

 

 

 

871.9

 

 

 

3.1

%

 

 

13.8

%

      Other Southern Europe

 

 

1,065.4

 

 

 

1,175.1

 

 

 

-9.3

%

 

 

-2.7

%

 

 

 

4,395.3

 

 

 

4,582.7

 

 

 

-4.1

%

 

 

5.1

%

  Northern Europe

 

 

2,121.6

 

 

 

2,324.3

 

 

 

-8.7

%

 

 

-0.3

%

  APME

 

 

1,221.9

 

 

 

1,247.3

 

 

 

-2.0

%

 

 

7.8

%

 

 

 

10,252.7

 

 

 

10,201.5

 

 

 

 

 

 

 

  Intercompany Eliminations

 

 

(35.3

)

 

 

 

 

 

 

 

 

 

 

 

 

10,217.4

 

 

 

10,201.5

 

 

 

0.2

%

 

 

7.7

%

Operating Unit Profit:

 

 

 

 

 

 

 

 

 

 

 

 

  Americas:

 

 

 

 

 

 

 

 

 

 

 

 

      United States

 

$

123.0

 

 

$

67.2

 

 

 

83.0

%

 

 

83.0

%

      Other Americas

 

 

30.7

 

 

 

32.9

 

 

 

-6.7

%

 

 

-2.0

%

 

 

 

153.7

 

 

 

100.1

 

 

 

53.5

%

 

 

55.1

%

  Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

      France

 

 

111.9

 

 

 

108.3

 

 

 

3.3

%

 

 

14.4

%

      Italy

 

 

64.5

 

 

 

51.1

 

 

 

26.3

%

 

 

39.9

%

      Other Southern Europe

 

 

30.5

 

 

 

29.3

 

 

 

4.0

%

 

 

9.3

%

 

 

 

206.9

 

 

 

188.7

 

 

 

9.6

%

 

 

20.5

%

  Northern Europe

 

 

14.1

 

 

 

22.7

 

 

 

-37.7

%

 

 

-31.0

%

  APME

 

 

41.5

 

 

 

41.1

 

 

 

0.8

%

 

 

13.2

%

 

 

 

416.2

 

 

 

352.6

 

 

 

 

 

 

 

Corporate expenses

 

 

(77.8

)

 

 

(74.5

)

 

 

 

 

 

 

Intangible asset amortization expense

 

 

(19.0

)

 

 

(9.8

)

 

 

 

 

 

 

    Operating profit

 

 

319.4

 

 

 

268.3

 

 

 

19.0

%

 

 

29.6

%

Interest and other expenses, net (b)

 

 

(9.4

)

 

 

(8.2

)

 

 

 

 

 

 

    Earnings before income taxes

 

$

310.0

 

 

$

260.1

 

 

 

 

 

 

 

(a) In the United States, revenues from services include fees received from our franchise offices of $6.0 million and $6.1 million for the six months ended June 30, 2022 and 2021, respectively. These fees are primarily based on revenues generated by the franchise offices, which were $238.9 million and $232.1 million for the six months ended June 30, 2022 and 2021, respectively.

(b) The components of interest and other expenses, net were:

 

 

2022

 

 

2021

 

        Interest expense

 

$

21.0

 

 

$

19.9

 

        Interest income

 

 

(5.6

)

 

 

(6.2

)

        Foreign exchange loss

 

 

5.1

 

 

 

3.1

 

        Miscellaneous income

 

 

(11.1

)

 

 

(8.6

)

 

 

$

9.4

 

 

$

8.2

 

 

 


 

ManpowerGroup

Consolidated Balance Sheets

(In millions)

 

 

 

June 30,

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

(Unaudited)

 

ASSETS

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

  Cash and cash equivalents

 

$

886.2

 

 

$

847.8

 

  Accounts receivable, net

 

 

5,343.9

 

 

 

5,448.2

 

  Prepaid expenses and other assets

 

 

171.8

 

 

 

126.7

 

      Total current assets

 

 

6,401.9

 

 

 

6,422.7

 

Other assets:

 

 

 

 

 

 

  Goodwill

 

 

1,669.9

 

 

 

1,722.2

 

  Intangible assets, net

 

 

560.9

 

 

 

583.6

 

  Operating lease right-of-use asset

 

 

314.0

 

 

 

373.4

 

  Other assets

 

 

561.8

 

 

 

610.2

 

      Total other assets

 

 

3,106.6

 

 

 

3,289.4

 

Property and equipment:

 

 

 

 

 

 

  Land, buildings, leasehold improvements and equipment

 

 

568.0

 

 

 

594.9

 

  Less: accumulated depreciation and amortization

 

 

458.0

 

 

 

478.1

 

      Net property and equipment

 

 

110.0

 

 

 

116.8

 

             Total assets

 

$

9,618.5

 

 

$

9,828.9

 

LIABILITIES AND SHAREHOLDERS' EQUITY

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

  Accounts payable

 

$

3,023.2

 

 

$

3,039.2

 

  Employee compensation payable

 

 

229.9

 

 

 

299.4

 

  Accrued liabilities

 

 

540.8

 

 

 

584.7

 

  Accrued payroll taxes and insurance

 

 

704.8

 

 

 

789.1

 

  Value added taxes payable

 

 

421.4

 

 

 

515.5

 

  Short-term borrowings and current maturities of long-term debt

 

 

481.0

 

 

 

552.6

 

      Total current liabilities

 

 

5,401.1

 

 

 

5,780.5

 

Other liabilities:

 

 

 

 

 

 

  Long-term debt

 

 

942.2

 

 

 

565.7

 

  Long-term operating lease liability

 

 

222.2

 

 

 

275.8

 

  Other long-term liabilities

 

 

608.2

 

 

 

675.2

 

      Total other liabilities

 

 

1,772.6

 

 

 

1,516.7

 

Shareholders' equity:

 

 

 

 

 

 

  ManpowerGroup shareholders' equity

 

 

 

 

 

 

    Common stock

 

 

1.2

 

 

 

1.2

 

    Capital in excess of par value

 

 

3,465.8

 

 

 

3,444.7

 

    Retained earnings

 

 

3,777.2

 

 

 

3,634.6

 

    Accumulated other comprehensive loss