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Goodwill
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill

 

(7) Goodwill

 

As described further in Note 14, effective in the first quarter of 2020 our segment reporting was realigned due to our Right Management business being combined with each of our respective country business units. Accordingly, our former reportable segment, Right Management, is now reported within each of our respective reportable segments. All previously reported results have been restated to conform to the current year presentation.

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, 2019

 

$

519.9

 

 

$

112.2

 

 

$

435.4

 

 

$

102.0

 

 

$

127.6

 

 

$

1,297.1

 

Goodwill acquired

 

 

14.2

 

 

 

33.8

 

 

 

 

 

 

 

 

 

 

 

 

48.0

 

Goodwill allocated to business units deconsolidated(5)

 

 

 

 

 

 

 

 

 

 

 

(18.5

)

 

 

(1.6

)

 

 

(20.1

)

Impairment charge(6)

 

 

 

 

 

 

 

 

(60.2

)

 

 

(3.8

)

 

 

 

 

 

(64.0

)

Currency impact and other

 

 

1.5

 

 

 

(1.2

)

 

 

(0.6

)

 

 

(0.6

)

 

 

 

 

 

(0.9

)

Balance, December 31, 2019

 

 

535.6

 

 

 

144.8

 

 

 

374.6

 

 

 

79.1

 

 

 

126.0

 

 

 

1,260.1

 

Impairment charge(7)

 

 

 

 

 

 

 

 

(66.8

)

 

 

 

 

 

 

 

 

(66.8

)

Currency impact and other

 

 

1.0

 

 

 

10.1

 

 

 

18.8

 

 

 

2.6

 

 

 

 

 

 

32.5

 

Balance, December 31, 2020

 

$

536.6

 

 

$

154.9

 

 

$

326.6

 

 

$

81.7

 

 

$

126.0

 

 

$

1,225.8

 

 

(1) Balances related to United States were $490.3 as of January 1, 2019 and December 31, 2019 and $490.2 as of December 31, 2020.

(2) Balances related to France were $68.9, $67.3 and $73.3 as of January 1, 2019, December 31, 2019 and December 31, 2020, respectively. Balances related to Italy were $4.8, $4.6 and $4.2 as of January 1, 2019, December 31, 2019 and December 31, 2020, respectively.

(3) The majority of the Corporate balance as of December 31, 2019 and 2020 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. 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 $513.4 ($235.2 related to Right Management and $278.2 related to Corporate) as of January 1, 2019, $577.4 ($60.2 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, 2019, and $644.2 ($127.0 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, 2020.

(5) Reductions relate to our China and Hong Kong reporting units, which were deconsolidated as of July 10, 2019. See Note 4 to the Consolidated Financial Statements for further information.

(6) The 2019 impairment charges of $60.2 and $3.8 relate to our Germany and New Zealand reporting units, respectively, which were recorded during the second quarter of 2019. See Note 1 to the Consolidated Financial Statements for further information.

(7) The 2020 impairment charge of $66.8 relates to our Germany reporting unit, which was recorded during the second quarter of 2020. See Note 1 to the Consolidated Financial Statements for further information.

 

Goodwill balances by reporting unit were as follows:

 

December 31

 

2020

 

 

2019

 

United States

 

$

545.7

 

 

$

545.8

 

Netherlands

 

 

119.3

 

 

 

109.5

 

United Kingdom

 

 

100.2

 

 

 

97.3

 

France

 

 

73.3

 

 

 

67.3

 

Germany

 

 

 

 

 

67.2

 

Other reporting units

 

 

387.3

 

 

 

373.0

 

Total goodwill

 

$

1,225.8

 

 

$

1,260.1