Segment Data

12 Months Ended

Dec. 31, 2019

(14) Segment Data

We are organized and managed primarily on a geographic basis, with Right Management currently operating as a separate global business unit. 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. We have an executive sponsor for each global brand who is responsible for ensuring the integrity and consistency of delivery locally. We develop and implement global workforce solutions for our clients that deliver the outcomes that help them achieve their business strategy. 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; APME; and Right Management.

The Americas, Southern Europe, Northern Europe and APME segments derive a significant majority of their revenues from the placement of contingent workers. The remaining revenues within these segments are derived from other workforce solutions and services, including ManpowerGroup Solutions (RPO, MSP, Proservia and Talent Based Outsourcing (TBO)), recruitment and assessment, and training and development. The Right Management segment revenues are derived from career management and talent management 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.

The accounting policies of the segments are the same as those described in the summary of significant accounting policies. We evaluate performance based on operating unit profit, which is equal to segment revenues less direct costs and branch and national headquarters operating costs. This profit measure does not include goodwill and intangible asset impairment charges or amortization of intangible assets related to acquisitions, corporate expenses, interest and other income and expense amounts or income taxes.

Total assets for the segments are reported after the elimination of investments in subsidiaries and intercompany accounts.

Year Ended December 31	2019			2018			2017
Revenues from Services^(a)
Americas:
United States^(b)	$	2,507.0		$	2,522.3		$	2,659.0
Other Americas		1,675.3			1,637.0			1,557.4
		4,182.3			4,159.3			4,216.4
Southern Europe:
France		5,459.7			5,827.7			5,477.2
Italy		1,506.5			1,670.6			1,475.9
Other Southern Europe		2,200.2			1,873.3			1,703.9
		9,166.4			9,371.6			8,657.0
Northern Europe		4,691.3			5,370.5			5,306.4
APME		2,627.2			2,890.3			2,636.4
Right Management		196.3			199.5			218.1
	$	20,863.5		$	21,991.2		$	21,034.3
Operating Unit Profit
Americas:
United States	$	113.2		$	130.8		$	152.1
Other Americas		73.1			73.1			61.2
		186.3			203.9			213.3
Southern Europe:
France		284.3			290.4			280.0
Italy		102.6			111.1			104.5
Other Southern Europe		67.7			66.1			59.4
		454.6			467.6			443.9
Northern Europe		67.1			122.7			140.1
APME		122.6			114.8			98.9
Right Management		30.0			32.8			36.0
	$	860.6		$	941.8		$	932.2
Corporate expenses		(121.9	)		(110.0	)		(108.4	)
Goodwill impairment charge		(64.0	)		—			—
Intangible asset amortization expense^(c)		(29.8	)		(35.1	)		(34.6	)
Interest and other income (expenses), net		40.6			(42.0	)		(51.9	)
Earnings before income taxes	$	685.5		$	754.7		$	737.3

(a) Further breakdown of revenues from services by geographical region was as follows:

Revenues from Services	2019		2018		2017
United States	$	2,590.6	$	2,608.9	$	2,758.5
France		5,479.6		5,846.4		5,493.9
Italy		1,508.3		1,673.9		1,479.4
United Kingdom		1,598.6		1,672.1		1,619.2
Total Foreign		18,272.9		19,382.3		18,275.8

(b) The United States revenues above represent revenues from our company-owned branches and franchise fees received from our franchise operations, which were $14.1, $15.0 and $14.8 for 2019, 2018 and 2017, respectively.

(c) Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses, and shown separately.

Year Ended December 31	2019			2018			2017
Depreciation and Amortization Expense
Americas:
United States	$	8.0		$	8.2		$	9.3
Other Americas		2.3			2.2			2.5
		10.3			10.4			11.8
Southern Europe:
France		13.7			14.0			12.3
Italy		1.8			1.9			1.8
Other Southern Europe		4.9			4.8			4.7
		20.4			20.7			18.8
Northern Europe		9.5			11.0			10.6
APME		5.6			5.7			4.7
Right Management		1.5			2.8			3.7
Corporate expenses		0.1			0.1			0.2
Intangible asset amortization expense^(a)		29.8			35.1			34.6
	$	77.2		$	85.8		$	84.4
Earnings from Equity Investments
Americas:
United States	$	—		$	—		$	—
Other Americas		—			—			—
		—			—			—
Southern Europe:
France		—			—			—
Italy		(0.1	)		(0.2	)		—
Other Southern Europe		47.5			1.7			15.0
		47.4			1.5			15.0
Northern Europe		—			—			—
APME		3.1			(0.3	)		—
Right Management		—			—			—
	$	50.5		$	1.2		$	15.0

(a) Intangible asset amortization related to acquisitions is excluded from operating costs within the reportable segments and corporate expenses, and shown separately.

As of December 31	2019		2018		2017
Total Assets
Americas:
United States	$	2,107.8	$	1,827.4	$	1,781.4
Other Americas		379.2		341.5		329.2
		2,487.0		2,168.9		2,110.6
Southern Europe:
France		2,722.7		2,729.7		2,753.1
Italy		463.4		405.0		436.7
Other Southern Europe		771.0		576.7		596.2
		3,957.1		3,711.4		3,786.0
Northern Europe		1,470.6		1,237.0		1,569.0
APME		707.6		754.0		780.7
Right Management		112.1		127.6		138.1
Corporate^(a)		489.4		520.9		499.2
	$	9,223.8	$	8,519.8	$	8,883.6
Equity Investments
Americas:
United States	$	—	$	—	$	—
Other Americas		—		—		—
		—		—		—
Southern Europe:
France		—		—		—
Italy		0.3		0.3		0.4
Other Southern Europe		—		157.8		157.2
		0.3		158.1		157.6
Northern Europe		—		—		—
APME		—		2.3		0.1
Right Management		—		—		—
Corporate		97.5		1.0		1.0
	$	97.8	$	161.4	$	158.7

(a) Corporate assets include assets that were not used in the operations of any segment, the most significant of which were purchased intangibles and cash.

As of and Year Ended December 31	2019		2018		2017
Long-lived Assets^(a)
Americas:
United States	$	20.0	$	19.6	$	20.6
Other Americas		8.0		6.0		6.1
		28.0		25.6		26.7
Southern Europe:
France		46.3		49.2		47.9
Italy		5.2		5.0		4.9
Other Southern Europe		23.5		23.4		24.3
		75.0		77.6		77.1
Northern Europe		27.1		29.9		28.0
APME		18.4		21.5		21.4
Right Management		2.2		5.3		8.0
Corporate		0.2		0.1		0.1
	$	150.9	$	160.0	$	161.3
Additions to Long-Lived Assets
Americas:
United States	$	8.1	$	7.6	$	6.7
Other Americas		4.5		2.8		2.4
		12.6		10.4		9.1
Southern Europe:
France		12.8		18.1		15.2
Italy		2.1		2.2		1.7
Other Southern Europe		4.9		5.9		8.8
		19.8		26.2		25.7
Northern Europe		7.6		16.6		11.8
APME		8.0		6.8		6.3
Right Management		0.6		0.2		1.0
Corporate		0.1		0.1		—
	$	48.7	$	60.3	$	53.9

(a) Further breakdown of long-lived assets by geographical region was as follows:

Long-Lived Assets	2019		2018		2017
United States	$	20.5	$	22.4	$	24.9
France		46.9		50.1		49.1
Italy		5.2		5.0		4.9
United Kingdom		5.8		7.0		9.1
Total Foreign		130.4		137.6		136.4