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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2019
Accounting Policies [Abstract]  
Schedule of Changes in Restructuring Reserve Changes in the restructuring reserve by reportable segment and Corporate are shown below:

 

 

Americas(1)

 

 

Southern

Europe(2)

 

 

Northern

Europe

 

 

APME

 

 

Right

Management

 

 

Corporate

 

 

Total

 

Balance, December 31, 2017

 

$

1.7

 

 

$

0.9

 

 

$

9.6

 

 

$

 

 

$

1.2

 

 

$

0.1

 

 

$

13.5

 

Severance costs

 

 

0.3

 

 

 

5.4

 

 

 

25.8

 

 

 

 

 

 

0.3

 

 

 

 

 

 

31.8

 

Office closure costs

 

 

 

 

 

 

 

 

7.5

 

 

 

 

 

 

 

 

 

 

 

 

7.5

 

Costs paid or utilized

 

 

(1.7

)

 

 

(4.6

)

 

 

(29.8

)

 

 

 

 

 

(1.1

)

 

 

(0.1

)

 

 

(37.3

)

Balance, December 31, 2018

 

$

0.3

 

 

$

1.7

 

 

$

13.1

 

 

$

 

 

$

0.4

 

 

$

 

 

$

15.5

 

Severance costs

 

 

3.6

 

 

 

5.2

 

 

 

17.6

 

 

 

3.5

 

 

 

0.2

 

 

 

2.3

 

 

 

32.4

 

Office closure costs(3)

 

 

1.3

 

 

 

0.1

 

 

 

2.0

 

 

 

0.9

 

 

 

4.5

 

 

 

0.8

 

 

 

9.6

 

Costs paid, utilized or transferred out(3)

 

 

(4.8

)

 

 

(6.3

)

 

 

(26.5

)

 

 

(4.4

)

 

 

(5.1

)

 

 

(3.1

)

 

 

(50.2

)

Balance, December 31, 2019

 

$

0.4

 

 

$

0.7

 

 

$

6.2

 

 

$

 

 

$

 

 

$

 

 

$

7.3

 

 

(1) Balance related to United States was $1.5 as of December 31, 2017. In 2018, United States paid/utilized $1.2, leaving a $0.3 liability as of December 31, 2018. In 2019, United States incurred $1.1 for severance costs and $1.3 for office closure costs and paid/utilized $2.4, leaving a $0.3 liability as of December 31, 2019.

(2) Balance related to France was $0.9 as of both December 31, 2017 and 2018. In 2019, France paid/utilized $0.9, leaving no liability as of December 31, 2019. Italy had no restructuring reserves recorded as of December 31, 2017. In 2018, Italy incurred $1.9 for severance costs and paid/utilized $1.4, leaving a $0.5 liability as of December 31, 2018. In 2019, Italy incurred $2.3 for severance costs and paid/utilized $2.5, leaving a $0.3 liability as of December 31, 2019.

(3) The office closure costs of $9.6 were recorded as an impairment to the operating lease right-of-use asset and, thus, are not included in the restructuring reserve balance as of December 31, 2019. As of December 31, 2019, the remaining liability of $3.2 related to office closures is recorded in current operating lease liabilities.

Schedule of Fair Value of Assets and Liabilities Measured on a Recurring Basis

The assets and liabilities measured and recorded at fair value on a recurring basis were as follows:

 

 

 

Fair Value Measurements Using

 

 

Fair Value Measurements Using

 

 

 

December 31, 2019

 

 

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

 

December 31, 2018

 

 

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred compensation plan assets

 

$

107.3

 

 

$

107.3

 

 

$

 

 

$

 

 

$

89.5

 

 

$

89.5

 

 

$

 

 

$

 

Cross-currency swaps

 

 

9.7

 

 

 

 

 

 

9.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.1

 

 

 

 

 

 

0.1

 

 

 

 

 

 

$

117.0

 

 

$

107.3

 

 

$

9.7

 

 

$

 

 

$

89.6

 

 

$

89.5

 

 

$

0.1

 

 

$

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cross-currency swaps

 

$

6.0

 

 

$

 

 

$

6.0

 

 

$

 

 

$

 

 

$

 

 

$

 

 

$

 

Foreign currency forward contracts

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0.1

 

 

 

 

 

 

0.1

 

 

 

 

 

 

$

6.0

 

 

$

 

 

$

6.0

 

 

$

 

 

$

0.1

 

 

$

 

 

$

0.1

 

 

$

 

Schedule of Goodwill, Finite-Lived Intangible Assets and Indefinite-Lived Intangible Assets

We had goodwill, finite-lived intangible assets and indefinite-lived intangible assets as follows:

 

 

 

December 31, 2019

 

 

December 31, 2018

 

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net

 

Goodwill(1)

 

$

1,260.1

 

 

$

 

 

$

1,260.1

 

 

$

1,297.1

 

 

$

 

 

$

1,297.1

 

Intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

460.5

 

 

$

375.7

 

 

$

84.8

 

 

$

444.8

 

 

$

351.7

 

 

$

93.1

 

Other

 

 

20.9

 

 

 

13.7

 

 

 

7.2

 

 

 

18.5

 

 

 

16.0

 

 

 

2.5

 

 

 

 

481.4

 

 

 

389.4

 

 

 

92.0

 

 

 

463.3

 

 

 

367.7

 

 

 

95.6

 

Indefinite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames(2)

 

 

52.0

 

 

 

 

 

 

52.0

 

 

 

52.0

 

 

 

 

 

 

52.0

 

Reacquired franchise rights

 

 

124.6

 

 

 

 

 

 

124.6

 

 

 

98.7

 

 

 

 

 

 

98.7

 

 

 

 

176.6

 

 

 

 

 

 

176.6

 

 

 

150.7

 

 

 

 

 

 

150.7

 

Total intangible assets

 

$

658.0

 

 

$

389.4

 

 

$

268.6

 

 

$

614.0

 

 

$

367.7

 

 

$

246.3

 

 

(1) Balances were net of accumulated impairment loss of $577.4 and $513.4 as of December 31, 2019 and 2018, respectively.

(2) Balances were net of accumulated impairment loss of $139.5 as of both December 31, 2019 and 2018.

Summary of Property and Equipment

A summary of property and equipment as of December 31 is as follows:

 

 

 

2019

 

 

2018

 

Land

 

$

0.5

 

 

$

3.4

 

Buildings

 

 

10.2

 

 

 

12.0

 

Furniture, fixtures, and autos

 

 

164.8

 

 

 

167.3

 

Computer equipment

 

 

130.3

 

 

 

128.7

 

Leasehold improvements

 

 

299.7

 

 

 

302.2

 

Property and equipment

 

$

605.5

 

 

$

613.6