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Segment Data
6 Months Ended
Jun. 30, 2022
Segment Reporting [Abstract]  
Segment Data

(16) Segment Data

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. We have an executive sponsor for each global brand who is responsible for ensuring the integrity and consistency of delivery across the company. 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 significant 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, 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 June 30,

 

 

Six Months Ended June 30,

 

 

 

2022

 

 

2021

 

 

2022

 

 

2021

 

Revenues from services:

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States (a)

 

$

903.9

 

 

$

628.8

 

 

$

1,793.3

 

 

$

1,237.6

 

Other Americas

 

 

358.8

 

 

 

415.5

 

 

 

720.6

 

 

 

809.6

 

 

 

 

1,262.7

 

 

 

1,044.3

 

 

 

2,513.9

 

 

 

2,047.2

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

1,238.2

 

 

 

1,346.8

 

 

 

2,430.6

 

 

 

2,535.7

 

Italy

 

 

454.3

 

 

 

469.1

 

 

 

899.3

 

 

 

871.9

 

Other Southern Europe

 

 

508.9

 

 

 

606.5

 

 

 

1,065.4

 

 

 

1,175.1

 

 

 

 

2,201.4

 

 

 

2,422.4

 

 

 

4,395.3

 

 

 

4,582.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

1,027.1

 

 

 

1,190.5

 

 

 

2,121.6

 

 

 

2,324.3

 

APME

 

 

603.7

 

 

 

619.9

 

 

 

1,221.9

 

 

 

1,247.3

 

 

 

 

5,094.9

 

 

 

5,277.1

 

 

 

10,252.7

 

 

 

10,201.5

 

Intercompany Eliminations

 

 

(20.8

)

 

 

 

 

 

(35.3

)

 

 

 

Consolidated (b)

 

$

5,074.1

 

 

$

5,277.1

 

 

$

10,217.4

 

 

$

10,201.5

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating unit profit: (c)

 

 

 

 

 

 

 

 

 

 

 

 

Americas:

 

 

 

 

 

 

 

 

 

 

 

 

United States

 

$

64.7

 

 

$

38.0

 

 

$

123.0

 

 

$

67.2

 

Other Americas

 

 

16.2

 

 

 

18.0

 

 

 

30.7

 

 

 

32.9

 

 

 

 

80.9

 

 

 

56.0

 

 

 

153.7

 

 

 

100.1

 

Southern Europe:

 

 

 

 

 

 

 

 

 

 

 

 

France

 

 

62.3

 

 

 

65.7

 

 

 

111.9

 

 

 

108.3

 

Italy

 

 

35.5

 

 

 

31.7

 

 

 

64.5

 

 

 

51.1

 

Other Southern Europe

 

 

13.9

 

 

 

17.9

 

 

 

30.5

 

 

 

29.3

 

 

 

 

111.7

 

 

 

115.3

 

 

 

206.9

 

 

 

188.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Northern Europe

 

 

10.8

 

 

 

17.9

 

 

 

14.1

 

 

 

22.7

 

APME

 

 

22.5

 

 

 

22.3

 

 

 

41.5

 

 

 

41.1

 

 

 

 

225.9

 

 

 

211.5

 

 

 

416.2

 

 

 

352.6

 

Corporate expenses

 

 

(35.8

)

 

 

(37.3

)

 

 

(77.8

)

 

 

(74.5

)

Intangible asset amortization expense

 

 

(9.4

)

 

 

(4.3

)

 

 

(19.0

)

 

 

(9.8

)

Operating profit

 

 

180.7

 

 

 

169.9

 

 

 

319.4

 

 

 

268.3

 

Interest and other expenses, net

 

 

(6.7

)

 

 

(2.8

)

 

 

(9.4

)

 

 

(8.2

)

Earnings before income taxes

 

$

174.0

 

 

$

167.1

 

 

$

310.0

 

 

$

260.1

 

 

(a) In the United States, revenues from services included fees received from the related franchise offices of $3.1 and $3.0 for the three months ended June 30, 2022 and 2021, respectively, and $6.0 and $6.1 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 $128.1 and $114.6 for the three months ended June 30, 2022 and 2021, respectively, and $238.9 and $232.1 for the six months ended June 30, 2022 and 2021, respectively.

(b) Our consolidated revenues from services include fees received from our franchise offices of $3.9 and $3.5 for the three months ended June 30, 2022 and 2021, respectively, and $7.5 and $7.1 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 $275.6 and $253.5 for the three months ended June 30, 2022 and 2021, respectively, and $540.8 and $502.6 for the six months ended June 30, 2022 and 2021, respectively.

(c) We evaluate segment performance based on operating unit profit (“OUP”), which is equal to segment revenues less cost of services and branch and national headquarters operating costs. This profit measure does not include goodwill and intangible asset impairment charges or amortization of intangibles related to acquisitions, corporate expenses, interest and other income and expense amounts or income taxes.