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Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2020
Accounting Policies [Abstract]  
Summary of Rollforward of Allowance for Doubtful Accounts

We have an allowance for doubtful accounts recorded as an estimate of the accounts receivable balance that may not be collected. This allowance is calculated on an entity-by-entity basis with consideration for historical write-off experience, the current aging of receivables, market conditions and a specific review for potential bad debts. Items that affect this balance mainly include bad debt expense and the write-off of accounts receivable balances.

 

 

Balance at

Beginning

of Year

 

 

Provisions

Charged to

Earnings

 

 

Write-Offs

 

 

Translation

Adjustments

 

 

Reclassifications

and Other

 

 

Balance

at End

of Year

 

2020

 

$

113.5

 

 

$

20.3

 

 

$

(17.8

)

 

$

8.1

 

 

$

4.0

 

 

$

128.1

 

2019

 

 

115.7

 

 

 

21.8

 

 

 

(19.1

)

 

 

(5.0

)

 

 

0.1

 

 

 

113.5

 

2018

 

 

110.8

 

 

 

23.0

 

 

 

(12.0

)

 

 

(6.3

)

 

 

0.2

 

 

 

115.7

 
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

 

 

Corporate

 

 

Total

 

Balance, December 31, 2018

 

$

0.5

 

 

$

1.9

 

 

$

13.1

 

 

$

—

 

 

$

—

 

 

$

15.5

 

Severance costs

 

 

3.8

 

 

 

5.2

 

 

 

17.6

 

 

 

3.5

 

 

 

2.3

 

 

 

32.4

 

Office closure costs

 

 

5.8

 

 

 

0.1

 

 

 

2.0

 

 

 

0.9

 

 

 

0.8

 

 

 

9.6

 

Costs paid or utilized

 

 

(9.7

)

 

 

(6.5

)

 

 

(26.5

)

 

 

(4.4

)

 

 

(3.1

)

 

 

(50.2

)

Balance, December 31, 2019

 

$

0.4

 

 

$

0.7

 

 

$

6.2

 

 

$

—

 

 

$

—

 

 

$

7.3

 

Severance costs

 

 

5.5

 

 

 

16.2

 

 

 

49.8

 

 

 

2.5

 

 

 

0.2

 

 

 

74.2

 

Office closure costs

 

 

19.6

 

 

 

5.1

 

 

 

2.1

 

 

 

0.5

 

 

 

—

 

 

 

27.3

 

Other costs

 

 

4.4

 

 

 

3.2

 

 

 

0.5

 

 

 

1.1

 

 

 

—

 

 

 

9.2

 

Costs paid, utilized or transferred out

 

 

(28.0

)

 

 

(21.7

)

 

 

(17.9

)

 

 

(4.1

)

 

 

(0.2

)

 

 

(71.9

)

Balance, December 31, 2020

 

$

1.9

 

 

$

3.5

 

 

$

40.7

 

 

$

—

 

 

$

—

 

 

$

46.1

 

 

(1) Balance related to United States was $0.3 as of December 31, 2018. In 2019, United States incurred $1.3 for severance costs and $5.4 for office closure costs and paid/utilized $6.7, leaving a $0.3 liability as of December 31, 2019. In 2020, United States incurred $3.8 for severance costs, $17.8 for office closure costs and $4.2 for other costs and paid/utilized $24.7, leaving a $1.4 liability as of December 31, 2020.

(2) Balance related to France was $1.1 as of December 31, 2018. In 2019, France paid/utilized $1.1, leaving no liability as of December 31, 2019. In 2020, France incurred $2.6 for office closure costs and $1.2 for other costs and paid/utilized $3.2, leaving a $0.6 liability as of December 31, 2020. Balance related to Italy was $0.5 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. In 2020, Italy incurred $1.9 for severance costs, $0.5 for office closure costs and $1.0 for other costs and paid/utilized $2.3, leaving a $1.4 liability as of December 31, 2020.
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, 2020

 

 

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

 

December 31, 2019

 

 

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

 

$

119.4

 

 

$

119.4

 

 

$

—

 

 

$

—

 

 

$

107.3

 

 

$

107.3

 

 

$

—

 

 

$

—

 

Cross-currency swaps

 

 

12.1

 

 

 

—

 

 

 

12.1

 

 

 

—

 

 

 

9.7

 

 

 

—

 

 

 

9.7

 

 

 

—

 

Foreign currency forward contracts

 

 

1.0

 

 

 

—

 

 

 

1.0

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

132.5

 

 

$

119.4

 

 

$

13.1

 

 

$

—

 

 

$

117.0

 

 

$

107.3

 

 

$

9.7

 

 

$

—

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cross-currency swaps

 

$

30.5

 

 

$

—

 

 

$

30.5

 

 

$

—

 

 

$

6.0

 

 

$

—

 

 

$

6.0

 

 

$

—

 

 

 

$

30.5

 

 

$

—

 

 

$

30.5

 

 

$

—

 

 

$

6.0

 

 

$

—

 

 

$

6.0

 

 

$

—

 
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, 2020

 

 

December 31, 2019

 

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net

 

 

Gross

 

 

Accumulated

Amortization

 

 

Net

 

Goodwill(1)

 

$

1,225.8

 

 

$

—

 

 

$

1,225.8

 

 

$

1,260.1

 

 

$

—

 

 

$

1,260.1

 

Intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Finite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

$

473.0

 

 

$

403.8

 

 

$

69.2

 

 

$

460.5

 

 

$

375.7

 

 

$

84.8

 

Other

 

 

21.9

 

 

 

21.6

 

 

 

0.3

 

 

 

20.9

 

 

 

13.7

 

 

 

7.2

 

 

 

 

494.9

 

 

 

425.4

 

 

 

69.5

 

 

 

481.4

 

 

 

389.4

 

 

 

92.0

 

Indefinite-lived:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradenames(2)

 

 

52.0

 

 

 

—

 

 

 

52.0

 

 

 

52.0

 

 

 

—

 

 

 

52.0

 

Reacquired franchise rights

 

 

127.1

 

 

 

—

 

 

 

127.1

 

 

 

124.6

 

 

 

—

 

 

 

124.6

 

 

 

 

179.1

 

 

 

—

 

 

 

179.1

 

 

 

176.6

 

 

 

—

 

 

 

176.6

 

Total intangible assets

 

$

674.0

 

 

$

425.4

 

 

$

248.6

 

 

$

658.0

 

 

$

389.4

 

 

$

268.6

 

 

(1) Balances were net of accumulated impairment loss of $644.2 and $577.4 as of December 31, 2020 and 2019, respectively.

(2) Balances were net of accumulated impairment loss of $139.5 as of both December 31, 2020 and 2019.
Summary of Property and Equipment

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

 

 

 

2020

 

 

2019

 

Land

 

$

0.5

 

 

$

0.5

 

Buildings

 

 

7.1

 

 

 

10.2

 

Furniture, fixtures, and autos

 

 

167.1

 

 

 

164.8

 

Computer equipment

 

 

133.8

 

 

 

130.3

 

Leasehold improvements

 

 

306.2

 

 

 

299.7

 

Property and equipment

 

$

614.7

 

 

$

605.5