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Segment Data
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Data

(15) Segment Data

Effective January 1, 2025, our segment reporting was realigned to include our Morocco business within Other Southern Europe. Accordingly, France is now adjusted to exclude Morocco. All previously reported results have been recast to conform to the current year presentation.

Our chief operating decision maker ("CODM") is our Chief Executive Officer, who evaluates the performance of our operating segments using OUP. OUP serves as the measure of profitability for monitoring actual results against budgeted expectations as well as investment and resource allocation among our segments. In addition, the CODM utilizes OUP in conducting competitive analysis, benchmarking our performance against that of our competitors and determining compensation.

We are organized and managed primarily on a geographic basis. Each country and business unit generally has its own distinct operations and management team, providing services under our global brands and maintains its own financial reports. Each operation reports directly or indirectly through a regional manager to a member of executive management. Given this reporting structure, we operate using the following reporting segments: Americas, which includes United States and Other Americas; Southern Europe, which includes France, Italy and Other Southern Europe, Northern Europe, and APME.

The segments derive a majority of their revenues from our staffing and interim services. The remaining revenues within these segments are derived from our outcome-based solutions and consulting services, permanent recruitment services, outplacement services, talent management services and other services. Segment revenues represent sales to external clients. We provide services to a wide variety of clients, none of which individually comprise a significant portion of revenues for us as a whole. Due to the nature of our business, we generally do not have export sales.

 

Three Months Ended September 30, 2025

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

690.8

 

 

$

515.7

 

 

$

154.5

 

 

$

20.6

 

Other Americas

 

 

407.9

 

 

 

341.7

 

 

 

48.9

 

 

 

17.3

 

 

 

 

1,098.7

 

 

 

857.4

 

 

 

203.4

 

 

 

37.9

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,173.5

 

 

 

1,010.5

 

 

 

132.4

 

 

 

30.6

 

Italy

 

 

462.5

 

 

 

390.6

 

 

 

45.3

 

 

 

26.6

 

Other Southern Europe

 

 

569.5

 

 

 

495.7

 

 

 

65.4

 

 

 

8.4

 

 

 

 

2,205.5

 

 

 

1,896.8

 

 

 

243.1

 

 

 

65.6

 

Northern Europe

 

 

816.8

 

 

 

684.3

 

 

 

147.4

 

 

 

(14.9

)

APME

 

 

520.5

 

 

 

433.3

 

 

 

60.4

 

 

 

26.8

 

Total Segments

 

 

4,641.5

 

 

 

3,871.8

 

 

 

654.3

 

 

 

115.4

 

Intercompany Eliminations

 

 

(7.1

)

 

 

(6.3

)

 

 

(0.8

)

 

 

 

 

 

$

4,634.4

 

 

$

3,865.5

 

 

$

653.5

 

 

$

115.4

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(40.9

)

Intangible asset amortization expense(b)

 

 

 

 

 

 

 

 

 

 

 

(7.9

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

66.6

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(13.7

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

 

$

52.9

 

(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $2.7 for the three months ended September 30, 2025.
(b)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.

Three Months Ended September 30, 2024

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

697.4

 

 

$

509.9

 

 

$

165.2

 

 

$

22.3

 

Other Americas

 

 

353.1

 

 

 

297.9

 

 

 

41.4

 

 

 

13.8

 

 

 

 

1,050.5

 

 

 

807.8

 

 

 

206.6

 

 

 

36.1

 

Southern Europe:(b)

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,156.8

 

 

 

987.5

 

 

 

128.1

 

 

 

41.2

 

Italy

 

 

419.1

 

 

 

350.2

 

 

 

41.5

 

 

 

27.4

 

Other Southern Europe

 

 

519.7

 

 

 

452.6

 

 

 

59.9

 

 

 

7.2

 

 

 

 

2,095.6

 

 

 

1,790.3

 

 

 

229.5

 

 

 

75.8

 

Northern Europe

 

 

828.3

 

 

 

680.4

 

 

 

173.6

 

 

 

(25.7

)

APME

 

 

562.8

 

 

 

474.1

 

 

 

65.7

 

 

 

23.0

 

Total Segments

 

 

4,537.2

 

 

 

3,752.6

 

 

 

675.4

 

 

 

109.2

 

Intercompany Eliminations

 

 

(7.0

)

 

 

(4.6

)

 

 

(2.4

)

 

 

 

 

 

$

4,530.2

 

 

$

3,748.0

 

 

$

673.0

 

 

$

109.2

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(30.2

)

Intangible asset amortization expense(c)

 

 

 

 

 

 

 

 

 

 

 

(8.2

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

70.8

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(11.6

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

 

$

59.2

 

(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $2.5 for the three months ended September 30, 2024.
(b)
Effective January 1, 2025, our segment reporting was realigned to include our Morocco business within Other Southern Europe. Accordingly, France is now adjusted to exclude Morocco. All previously reported results have been recast to conform to the current year presentation.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.

Nine Months Ended September 30, 2025

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

2,053.7

 

 

$

1,530.9

 

 

$

471.2

 

 

$

51.6

 

Other Americas

 

 

1,161.7

 

 

 

981.9

 

 

 

131.9

 

 

 

47.9

 

 

 

 

3,215.4

 

 

 

2,512.8

 

 

 

603.1

 

 

 

99.5

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

3,288.5

 

 

 

2,818.4

 

 

 

386.2

 

 

 

83.9

 

Italy

 

 

1,336.2

 

 

 

1,124.7

 

 

 

128.5

 

 

 

83.0

 

Other Southern Europe

 

 

1,564.1

 

 

 

1,358.5

 

 

 

183.4

 

 

 

22.2

 

 

 

 

6,188.8

 

 

 

5,301.6

 

 

 

698.1

 

 

 

189.1

 

Northern Europe

 

 

2,342.0

 

 

 

1,952.4

 

 

 

431.8

 

 

 

(42.2

)

APME

 

 

1,522.2

 

 

 

1,266.6

 

 

 

182.4

 

 

 

73.2

 

Total Segments

 

 

13,268.4

 

 

 

11,033.4

 

 

 

1,915.4

 

 

 

319.6

 

Intercompany Eliminations

 

 

(24.4

)

 

 

(20.3

)

 

 

(4.1

)

 

 

 

 

 

$

13,244.0

 

 

$

11,013.1

 

 

$

1,911.3

 

 

$

319.6

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(137.1

)

Impairment charges(b)

 

 

 

 

 

 

 

 

 

 

 

(88.7

)

Intangible asset amortization expense(c)

 

 

 

 

 

 

 

 

 

 

 

(24.3

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

69.5

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(41.7

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

 

$

27.8

 

(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $7.5 for the nine months ended September 30, 2025.
(b)
Impairment charges for the nine months ended September 30, 2025 consist of a goodwill impairment related to our investments in Switzerland and the United Kingdom and an impairment of an indefinite lived intangible asset in our Switzerland business.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.

 

 

Nine Months Ended September 30, 2024

 

Revenue

 

 

Cost of Services

 

 

Selling and
Administrative
Expenses

 

 

OUP

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States(a)

 

$

2,074.8

 

 

$

1,525.8

 

 

$

487.3

 

 

$

61.7

 

Other Americas

 

 

1,076.5

 

 

 

899.2

 

 

 

131.7

 

 

 

45.6

 

 

 

 

3,151.3

 

 

 

2,425.0

 

 

 

619.0

 

 

 

107.3

 

Southern Europe:(b)

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

3,420.2

 

 

 

2,922.6

 

 

 

383.9

 

 

 

113.7

 

Italy

 

 

1,258.3

 

 

 

1,046.7

 

 

 

122.8

 

 

 

88.8

 

Other Southern Europe

 

 

1,496.4

 

 

 

1,299.2

 

 

 

170.8

 

 

 

26.4

 

 

 

 

6,174.9

 

 

 

5,268.5

 

 

 

677.5

 

 

 

228.9

 

Northern Europe

 

 

2,535.9

 

 

 

2,091.4

 

 

 

472.6

 

 

 

(28.1

)

APME

 

 

1,639.3

 

 

 

1,382.3

 

 

 

189.1

 

 

 

67.9

 

Total Segments

 

 

13,501.4

 

 

 

11,167.2

 

 

 

1,958.2

 

 

 

376.0

 

Intercompany Eliminations

 

 

(47.2

)

 

 

(44.8

)

 

 

(2.4

)

 

 

 

 

 

$

13,454.2

 

 

$

11,122.4

 

 

$

1,955.8

 

 

$

376.0

 

Reconciliation of operating unit profit (segment OUP)

 

 

 

 

 

 

 

 

 

 

 

 

Corporate expenses

 

 

 

 

 

 

 

 

 

 

$

(113.6

)

Intangible asset amortization expense(c)

 

 

 

 

 

 

 

 

 

 

 

(24.6

)

Operating profit

 

 

 

 

 

 

 

 

 

 

 

237.8

 

Interest and other expenses, net

 

 

 

 

 

 

 

 

 

 

 

(28.7

)

Earnings before income taxes

 

 

 

 

 

 

 

 

 

 

$

209.1

 

(a)
The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $8.1 for the nine months ended September 30, 2024.
(b)
Effective January 1, 2025, our segment reporting was realigned to include our Morocco business within Other Southern Europe. Accordingly, France is now adjusted to exclude Morocco. All previously reported results have been recast to conform to the current year presentation.
(c)
Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses and shown separately.