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Goodwill (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Changes in Carrying Value of Goodwill by Reportable Segment

Changes in the carrying value of goodwill by reportable segment and Corporate were as follows:

 

 

Americas(1)

 

 

Southern
Europe
(2)

 

 

Northern
Europe

 

 

APME

 

 

Corporate(3)

 

 

Total(4)

 

Balance, January 1, 2022

 

$

1,058.9

 

 

$

146.7

 

 

$

313.7

 

 

$

76.9

 

 

$

126.0

 

 

$

1,722.2

 

Acquisitions

 

 

(6.5

)

 

 

8.8

 

 

 

 

 

 

 

 

 

 

 

 

2.3

 

  Impairment Charge(5)

 

 

 

 

 

 

 

 

(50.0

)

 

 

 

 

 

 

 

 

(50.0

)

Currency impact and other

 

 

(2.8

)

 

 

(7.3

)

 

 

(28.9

)

 

 

(7.4

)

 

 

 

 

 

(46.4

)

Balance, December 31, 2022

 

 

1,049.6

 

 

 

148.2

 

 

 

234.8

 

 

 

69.5

 

 

 

126.0

 

 

 

1,628.1

 

  Impairment Charge(5)

 

 

 

 

 

 

 

 

(55.1

)

 

 

 

 

 

 

 

 

(55.1

)

Currency impact and other

 

 

0.8

 

 

 

6.5

 

 

 

8.3

 

 

 

(1.8

)

 

 

 

 

 

13.8

 

Balance, December 31, 2023

 

$

1,050.4

 

 

$

154.7

 

 

$

188.0

 

 

$

67.7

 

 

$

126.0

 

 

$

1,586.8

 

 

(1)
Balances related to United States were $1,013.0, $1,006.5 and $1,006.5 as of January 1, 2022, December 31, 2022 and December 31, 2023, respectively. The 2022 reduction for acquisitions represents post-closing opening balance adjustments related to the Experis acquisition.
(2)
Balances related to France were $68.2, $73.3 and $75.6 as of January 1, 2022, December 31, 2022 and December 31, 2023, respectively. Balances related to Italy were $3.9, $3.7 and $3.8 as of January 1, 2022, December 31, 2022 and December 31, 2023, respectively.
(3)
The majority of the Corporate balance as of December 31, 2022 and 2023 relates to goodwill attributable to our acquisitions of Right Management ($62.1) and Jefferson Wells ($55.5). Jefferson Wells is part of the United States reporting unit. Right Management is allocated to the reporting units of the countries in which Right Management operates. For purposes of monitoring our total assets by segment, we do not allocate the Corporate balance to the respective reportable segments as this is commensurate with how we operate our business. We do, however, include these balances within the appropriate reporting units for our goodwill impairment testing. See table below for the breakout of goodwill balances by reporting unit.
(4)
Balances were net of accumulated impairment loss of $694.2 ($177.0 related to Northern Europe, $3.8 related to APME, $235.2 related to Right Management and $278.2 related to Corporate) as of December 31, 2022; and $749.3 ($232.1 related to Northern Europe, $3.8 related to APME, $235.2 related to Right Management and $278.2 related to Corporate) as of December 31, 2023.
(5)
The impairment charges relate to our Netherlands reporting unit, which was recorded during the fourth quarter of 2022 and 2023, respectively. See Note 1 to the Consolidated Financial Statements for further information.
Schedule of Goodwill Balances by Reporting Unit

Goodwill balances by reporting unit were as follows:

 

December 31

 

 

2023

 

 

2022

 

United States

 

$

1,085.3

 

 

$

1,085.3

 

United Kingdom

 

 

105.7

 

 

 

100.2

 

France

 

 

81.7

 

 

 

79.5

 

Canada

 

 

42.6

 

 

 

41.6

 

Netherlands

 

 

 

 

 

55.1

 

Other reporting units

 

 

271.5

 

 

 

266.4

 

Total goodwill

 

$

1,586.8

 

 

$

1,628.1