ManpowerGroup Reports 2nd Quarter 2025 Results
ManpowerGroup (NYSE: MAN) reported Q2 2025 financial results, with revenues remaining flat at $4.5 billion year-over-year, though declining 3% in constant currency. The company posted a net loss of $67.1 million ($1.44 per basic share), compared to net earnings of $60.1 million ($1.24 per diluted share) in the prior year period.
The quarter's performance was significantly impacted by a $89 million non-cash goodwill impairment charge and restructuring costs. Excluding these charges, earnings per share was $0.78. The company's gross profit margin stood at 16.9%, showing a slight decrease due to business mix changes. Latin America and Asia Pacific showed strong demand, while Europe and North America exhibited stabilizing trends.
For Q3 2025, ManpowerGroup expects diluted earnings per share between $0.77 and $0.87, including a 3-cent favorable currency impact and a 48.0% effective tax rate.
ManpowerGroup (NYSE: MAN) ha riportato i risultati finanziari del secondo trimestre 2025, con ricavi sostanzialmente stabili a 4,5 miliardi di dollari rispetto all'anno precedente, sebbene in calo del 3% a valuta costante. L'azienda ha registrato una perdita netta di 67,1 milioni di dollari (1,44 dollari per azione base), rispetto a un utile netto di 60,1 milioni di dollari (1,24 dollari per azione diluita) nello stesso periodo dell'anno precedente.
Le prestazioni del trimestre sono state fortemente influenzate da una rettifica non monetaria di 89 milioni di dollari per svalutazione dell'avviamento e da costi di ristrutturazione. Escludendo tali oneri, l'utile per azione è stato di 0,78 dollari. Il margine lordo dell'azienda si è attestato al 16,9%, con un leggero calo dovuto a variazioni nel mix di business. L'America Latina e l'Asia Pacifico hanno mostrato una forte domanda, mentre Europa e Nord America hanno evidenziato tendenze di stabilizzazione.
Per il terzo trimestre 2025, ManpowerGroup prevede un utile per azione diluito compreso tra 0,77 e 0,87 dollari, includendo un impatto favorevole di 3 centesimi dovuto al cambio valuta e un'aliquota fiscale effettiva del 48,0%.
ManpowerGroup (NYSE: MAN) reportó los resultados financieros del segundo trimestre de 2025, con ingresos que se mantuvieron planos en 4.5 mil millones de dólares interanual, aunque con una disminución del 3% a moneda constante. La compañía registró una pérdida neta de 67.1 millones de dólares (1.44 dólares por acción básica), en comparación con ganancias netas de 60.1 millones de dólares (1.24 dólares por acción diluida) en el mismo período del año anterior.
El desempeño del trimestre se vio significativamente afectado por un cargo por deterioro no monetario de 89 millones de dólares en goodwill y costos de reestructuración. Excluyendo estos cargos, las ganancias por acción fueron de 0.78 dólares. El margen bruto de la compañía se situó en 16.9%, mostrando una ligera disminución debido a cambios en la mezcla de negocios. América Latina y Asia Pacífico mostraron una fuerte demanda, mientras que Europa y Norteamérica exhibieron tendencias de estabilización.
Para el tercer trimestre de 2025, ManpowerGroup espera ganancias por acción diluidas entre 0.77 y 0.87 dólares, incluyendo un impacto favorable de 3 centavos por tipo de cambio y una tasa impositiva efectiva del 48.0%.
ManpowerGroup (NYSE: MAN)는 2025년 2분기 재무 실적을 발표했으며, 매출은 전년 대비 45억 달러로 거의 동일했으나 환율 변동을 고려하면 3% 감소했습니다. 회사는 6,710만 달러의 순손실 (기본 주당 1.44달러)을 기록했으며, 이는 전년 동기 6,010만 달러 순이익 (희석 주당 1.24달러)과 대비됩니다.
이번 분기 실적은 8,900만 달러의 무형자산(영업권) 손상차손과 구조조정 비용의 영향을 크게 받았습니다. 이 비용을 제외하면 주당순이익은 0.78달러였습니다. 회사의 총이익률은 16.9%로, 사업 구성 변화로 인해 소폭 감소했습니다. 라틴 아메리카와 아시아 태평양 지역은 강한 수요를 보였고, 유럽과 북미는 안정화 추세를 나타냈습니다.
2025년 3분기 ManpowerGroup은 환율 긍정적 영향 3센트와 48.0%의 유효 세율을 포함하여 희석 주당순이익이 0.77달러에서 0.87달러 사이일 것으로 예상합니다.
ManpowerGroup (NYSE : MAN) a publié ses résultats financiers du deuxième trimestre 2025, avec des revenus restés stables à 4,5 milliards de dollars en glissement annuel, bien qu'en baisse de 3 % en devise constante. La société a enregistré une perte nette de 67,1 millions de dollars (1,44 dollar par action de base), contre un bénéfice net de 60,1 millions de dollars (1,24 dollar par action diluée) sur la même période l'année précédente.
La performance du trimestre a été fortement impactée par une charge de dépréciation non monétaire de 89 millions de dollars sur le goodwill et des coûts de restructuration. Hors ces charges, le bénéfice par action s'est élevé à 0,78 dollar. La marge brute de la société s'est établie à 16,9 %, affichant une légère baisse due à des changements dans la composition des activités. L'Amérique latine et la région Asie-Pacifique ont montré une forte demande, tandis que l'Europe et l'Amérique du Nord ont présenté des tendances de stabilisation.
Pour le troisième trimestre 2025, ManpowerGroup prévoit un bénéfice par action dilué compris entre 0,77 et 0,87 dollar, incluant un impact favorable de 3 cents lié aux changes et un taux d'imposition effectif de 48,0 %.
ManpowerGroup (NYSE: MAN) meldete die Finanzergebnisse für das zweite Quartal 2025, wobei die Umsätze im Jahresvergleich stabil bei 4,5 Milliarden US-Dollar blieben, jedoch in konstanter Währung um 3 % zurückgingen. Das Unternehmen verzeichnete einen Nettoverlust von 67,1 Millionen US-Dollar (1,44 US-Dollar je Stammaktie), verglichen mit einem Nettogewinn von 60,1 Millionen US-Dollar (1,24 US-Dollar je verwässerter Aktie) im Vorjahreszeitraum.
Die Quartalsleistung wurde maßgeblich durch eine nicht zahlungswirksame Goodwill-Abschreibung in Höhe von 89 Millionen US-Dollar und Restrukturierungskosten beeinflusst. Ohne diese Belastungen betrug der Gewinn je Aktie 0,78 US-Dollar. Die Bruttogewinnmarge des Unternehmens lag bei 16,9 % und verzeichnete einen leichten Rückgang aufgrund von Veränderungen im Geschäftsportfolio. Lateinamerika und Asien-Pazifik zeigten eine starke Nachfrage, während Europa und Nordamerika stabile Trends aufwiesen.
Für das dritte Quartal 2025 erwartet ManpowerGroup einen verwässerten Gewinn je Aktie zwischen 0,77 und 0,87 US-Dollar, einschließlich eines positiven Währungseffekts von 3 Cent und einem effektiven Steuersatz von 48,0 %.
- None.
- Net loss of $67.1 million compared to $60.1 million profit last year
- $89 million non-cash goodwill impairment charge
- Revenue declined 3% in constant currency
- Gross profit margin decreased due to business mix changes
- Experis brand experienced declines in professional staffing demand
Insights
ManpowerGroup reports mixed Q2 with net loss driven by impairment charges amid stabilizing demand in certain markets.
ManpowerGroup's Q2 2025 results reflect significant challenges despite some stabilizing trends. The company reported
This loss primarily stems from a
The geographic performance reveals a bifurcated demand environment. Latin America and Asia Pacific showed good demand, while Europe and North America exhibited stabilizing but still challenged trends. By business segment, Manpower and Talent Solutions returned to revenue growth, but Experis (professional staffing) continued to decline, indicating persistent weakness in higher-skilled temporary positions.
The gross profit margin of
The company's strategic focus on "Diversify, Digitize and Innovate" and investments in AI adoption represent attempts to position for future growth amid ongoing economic and geopolitical volatility. However, the immediate financial performance indicates significant headwinds that aren't quickly abating, despite management's optimistic framing of "beginning to see positive signs of stabilization" in some markets.
- Revenues of
$4.5 billion 3% constant currency (CC), -1% organic CC) Latin America andAsia Pacific continued to experience good demand while demand inEurope andNorth America saw stabilizing trends in many markets during the quarter- Manpower and Talent Solutions brands crossed back over to revenue growth in the quarter while Experis experienced declines on sluggish professional staffing demand
- Gross profit margin of
16.9% reflects a slight decrease from the previous quarter reflecting business mix changes impacting staffing while permanent recruitment activity levels remained stable - SG&A declined year over year with additional restructuring actions taken in the quarter
- Non-cash goodwill impairment charge of
$89 million
The current year quarter included a non-cash goodwill and intangible asset impairment charge1, restructuring costs, and net losses from the sale of businesses2, which will operate as franchises going forward, which reduced earnings per share by
Financial results in the quarter were also impacted by the
Jonas Prising, ManpowerGroup Chair & CEO, said "During the quarter, we continued to make strong progress in executing our plans to Diversify, Digitize and Innovate – with a focus on expanding our role as the strategic workforce partner of choice for our clients as tech transformation gathers pace. Although demand remains mixed across our global markets as employers adapt to economic and geopolitical volatility, we are beginning to see positive signs of stabilization in the US and parts of
We anticipate diluted earnings per share in the third quarter will be between
Net losses for the six months ended June 30, 2025 were
In conjunction with its second quarter earnings release, ManpowerGroup will broadcast its conference call live over the Internet on July 17, 2025 at 7:30 a.m. central time (8:30 a.m. eastern time). Prepared remarks for the conference call, webcast details, presentation and recordings are included within the Investor Relations section of manpowergroup.com.
Supplemental financial information referenced in the conference call can be found at http://investor.manpowergroup.com/.
About ManpowerGroup
ManpowerGroup® (NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2025 ManpowerGroup was named one of the World's Most Ethical Companies for the 16th time – all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com.
Forward-Looking Statements
This press release contains statements, including statements regarding global economic and geopolitical uncertainty, trends in labor demand and the future strengthening of such demand, financial outlook, the outlook for our business in regions in which we operate as well as key countries within those regions, and the Company's strategic initiatives and technology investments, including investments to accelerate AI adoption, and the positioning of future growth for our brands that are forward-looking in nature and, accordingly, are subject to risks and uncertainties regarding the Company's expected future results. The Company's actual results may differ materially from those described or contemplated in the forward-looking statements due to numerous factors. These factors include those found in the Company's reports filed with the SEC, including the information under the heading "Risk Factors" in its Annual Report on Form 10-K for the year ended December 31, 2024, which information is incorporated herein by reference.
The Company assumes no obligation to update or revise any forward-looking statements. We reference certain non-GAAP financial measures, which we believe provide useful information for investors. We include a reconciliation of these measures, where appropriate, to GAAP on the Investor Relations section of our website at manpowergroup.com.
1 |
2 |
3 The prior year period included various adjustments which reduced earnings per share by |
4 The second quarter earnings per share guidance estimated a positive |
5 The prior year period included losses related to the Proservia Germany business and |
6 Adjusted earnings per share for the six-month period were positively impacted by |
ManpowerGroup | ||||
Results of Operations | ||||
(In millions, except per share data) | ||||
Three Months Ended June 30 | ||||
% Variance | ||||
Amount | Constant | |||
2025 | 2024 | Reported | Currency | |
(Unaudited) | ||||
Revenues from services (a) | $ 4,519.3 | $ 4,520.7 | 0.0 % | -3.5 % |
Cost of services | 3,755.6 | 3,734.8 | 0.6 % | -3.0 % |
Gross profit | 763.7 | 785.9 | -2.8 % | -5.8 % |
Selling and administrative expenses, | 700.3 | 684.8 | 2.3 % | 0.3 % |
Impairment charges (b) | 88.7 | - | N/A | N/A |
Selling and administrative expenses | 789.0 | 684.8 | 15.2 % | 12.2 % |
Operating (loss) profit | (25.3) | 101.1 | -125.0 % | -127.9 % |
Interest and other expenses, net | 16.5 | 8.7 | 89.1 % | |
(Loss) earnings before income taxes | (41.8) | 92.4 | -145.3 % | -144.0 % |
Provision for income taxes | 25.3 | 32.3 | -21.9 % | |
Net (loss) earnings | $ (67.1) | $ 60.1 | -211.6 % | -208.2 % |
Net (loss) earnings per share - basic | $ (1.44) | $ 1.25 | -215.4 % | |
Net (loss) earnings per share - diluted | $ (1.44) | $ 1.24 | -216.3 % | -212.8 % |
Weighted average shares - basic | 46.5 | 47.9 | -3.0 % | |
Weighted average shares - diluted | 46.5 | 48.4 | -4.0 % | |
(a) Revenues from services include fees received from our franchise offices of | ||||
(b) Impairment charges for the three months ended June 30, 2025 consist of a goodwill impairment related to our | ||||
ManpowerGroup | ||||
Operating Unit Results | ||||
(In millions) | ||||
Three Months Ended June 30 | ||||
% Variance | ||||
Amount | Constant | |||
2025 | 2024(a) | Reported | Currency | |
(Unaudited) | ||||
Revenues from Services: | ||||
| ||||
United States (b) | $ 674.1 | $ 697.0 | -3.3 % | -3.3 % |
Other Americas | 385.9 | 367.4 | 5.1 % | 11.9 % |
1,060.0 | 1,064.4 | -0.4 % | 2.0 % | |
| ||||
| 1,149.3 | 1,164.1 | -1.3 % | -6.3 % |
| 475.9 | 434.9 | 9.4 % | 3.9 % |
Other Southern Europe | 524.1 | 499.0 | 5.0 % | -0.6 % |
2,149.3 | 2,098.0 | 2.4 % | -2.8 % | |
| 794.4 | 837.3 | -5.1 % | -10.4 % |
APME | 525.3 | 541.4 | -3.0 % | -8.0 % |
4,529.0 | 4,541.1 | |||
Intercompany Eliminations | (9.7) | 20.4 | ||
$ 4,519.3 | $ 4,520.7 | 0.0 % | -3.5 % | |
Operating Unit Profit (Loss): | ||||
| ||||
| $ 19.7 | $ 27.4 | -28.4 % | -28.4 % |
Other Americas | 16.4 | 17.7 | -6.6 % | -1.9 % |
36.1 | 45.1 | -19.9 % | -18.0 % | |
| ||||
| 32.3 | 39.8 | -19.0 % | -23.2 % |
| 31.8 | 34.0 | -6.2 % | -11.1 % |
Other Southern Europe | 9.2 | 9.4 | -1.8 % | -5.8 % |
73.3 | 83.2 | -11.9 % | -16.3 % | |
| (9.0) | (2.4) | -279.7 % | -526.6 % |
APME | 26.4 | 25.0 | 5.0 % | 2.2 % |
126.8 | 150.9 | |||
Corporate expenses | (55.1) | (41.7) | ||
Impairment charges (c) | (88.7) | - | ||
Intangible asset amortization expense | (8.3) | (8.1) | ||
Operating (loss) profit | (25.3) | 101.1 | -125.0 % | -127.9 % |
Interest and other expenses, net (d) | (16.5) | (8.7) | ||
(Loss) earnings before income taxes | $ (41.8) | $ 92.4 | ||
(a) Effective January 1, 2025, our segment reporting was realigned to include our | ||||
(b) In | ||||
(c) Impairment charges for the three months ended June 30, 2025 consist of a goodwill impairment related to our investments | ||||
(d) The components of interest and other expenses, net were: | ||||
2025 | 2024 | |||
Interest expense | $ 26.0 | $ 22.0 | ||
Interest income | (8.2) | (8.6) | ||
Foreign exchange loss | 1.3 | 1.8 | ||
Miscellaneous income, net | (2.6) | (6.5) | ||
$ 16.5 | $ 8.7 | |||
ManpowerGroup | ||||
Results of Operations | ||||
(In millions, except per share data) | ||||
Six Months Ended June 30 | ||||
% Variance | ||||
Amount | Constant | |||
2025 | 2024 | Reported | Currency | |
(Unaudited) | ||||
Revenues from services (a) | $ 8,609.6 | $ 8,924.0 | -3.5 % | -4.0 % |
Cost of services | 7,147.6 | 7,374.4 | -3.1 % | -3.6 % |
Gross profit | 1,462.0 | 1,549.6 | -5.7 % | -6.0 % |
Selling and administrative expenses, | 1,370.4 | 1,382.6 | -0.9 % | -0.8 % |
Impairment charges (b) | 88.7 | - | N/A | N/A |
Selling and administrative expenses | 1,459.1 | 1,382.6 | 5.5 % | 5.1 % |
Operating profit | 2.9 | 167.0 | -98.3 % | -98.2 % |
Interest and other expenses, net | 28.0 | 17.1 | 63.7 % | |
(Loss) earnings before income taxes | (25.1) | 149.9 | -116.8 % | -114.8 % |
Provision for income taxes | 36.4 | 50.1 | -27.3 % | |
Net (loss) earnings | $ (61.5) | $ 99.8 | -161.6 % | -159.0 % |
Net (loss) earnings per share - basic | $ (1.32) | $ 2.07 | -163.7 % | |
Net (loss) earnings per share - diluted | $ (1.32) | $ 2.05 | -164.3 % | -161.5 % |
Weighted average shares - basic | 46.7 | 48.1 | -3.0 % | |
Weighted average shares - diluted | 46.7 | 48.7 | -4.1 % | |
(a) Revenues from services include fees received from our franchise offices of | ||||
(b) Impairment charges for the six months ended June 30, 2025 consist of a goodwill impairment related to our | ||||
ManpowerGroup | ||||
Operating Unit Results | ||||
(In millions) | ||||
Six Months Ended June 30 | ||||
% Variance | ||||
Amount | Constant | |||
2025 | 2024(a) | Reported | Currency | |
(Unaudited) | ||||
Revenues from Services: | ||||
| ||||
United States (b) | $ 1,362.9 | $ 1,377.4 | -1.1 % | -1.1 % |
Other Americas | 753.8 | 723.4 | 4.2 % | 12.5 % |
2,116.7 | 2,100.8 | 0.8 % | 3.6 % | |
| ||||
| 2,115.0 | 2,263.4 | -6.6 % | -7.8 % |
| 873.7 | 839.2 | 4.1 % | 2.7 % |
Other Southern Europe | 994.6 | 976.7 | 1.8 % | 0.0 % |
3,983.3 | 4,079.3 | -2.4 % | -3.8 % | |
| 1,525.2 | 1,707.6 | -10.7 % | -12.4 % |
APME | 1,001.7 | 1,076.5 | -7.0 % | -8.6 % |
8,626.9 | 8,964.2 | |||
Intercompany Eliminations | (17.3) | (40.2) | ||
$ 8,609.6 | $ 8,924.0 | -3.5 % | -4.0 % | |
Operating Unit Profit (Loss): | ||||
| ||||
| $ 31.0 | $ 39.4 | -21.3 % | -21.3 % |
Other Americas | 30.6 | 31.8 | -3.7 % | 2.5 % |
61.6 | 71.2 | -13.5 % | -10.7 % | |
| ||||
| 53.3 | 72.5 | -26.6 % | -28.1 % |
| 56.4 | 61.4 | -8.1 % | -9.6 % |
Other Southern Europe | 13.8 | 19.2 | -27.9 % | -29.5 % |
123.5 | 153.1 | -19.3 % | -20.9 % | |
| (27.3) | (2.4) | -1057.5 % | -1316.3 % |
APME | 46.4 | 44.9 | 3.2 % | 2.3 % |
204.2 | 266.8 | |||
Corporate expenses | (96.2) | (83.4) | ||
Impairment charges (c) | (88.7) | - | ||
Intangible asset amortization expense | (16.4) | (16.4) | ||
Operating profit | 2.9 | 167.0 | -98.3 % | -98.2 % |
Interest and other expenses, net (d) | (28.0) | (17.1) | ||
(Loss) earnings before income taxes | $ (25.1) | $ 149.9 | ||
(a) Effective January 1, 2025, our segment reporting was realigned to include our | ||||
(b) In | ||||
(c) Impairment charges for the six months ended June 30, 2025 consist of a goodwill impairment related to our investments | ||||
(d) The components of interest and other expenses, net were: | ||||
2025 | 2024 | |||
Interest expense | $ 48.5 | $ 42.4 | ||
Interest income | (15.1) | (16.7) | ||
Foreign exchange loss | 2.2 | 4.2 | ||
Miscellaneous income | (7.6) | (12.8) | ||
$ 28.0 | $ 17.1 | |||
ManpowerGroup | |||
Consolidated Balance Sheets | |||
(In millions) | |||
Jun. 30, | Dec. 31, | ||
2025 | 2024 | ||
(Unaudited) | |||
ASSETS | |||
Current assets: | |||
Cash and cash equivalents | $ 289.8 | $ 509.4 | |
Accounts receivable, net | 4,641.3 | 4,297.2 | |
Prepaid expenses and other assets | 212.0 | 163.7 | |
Total current assets | 5,143.1 | 4,970.3 | |
Other assets: | |||
Goodwill | 1,549.0 | 1,563.4 | |
Intangible assets, net | 445.1 | 486.1 | |
Operating lease right-of-use assets | 419.4 | 361.3 | |
Other assets | 819.6 | 701.5 | |
Total other assets | 3,233.1 | 3,112.3 | |
Property and equipment: | |||
Land, buildings, leasehold improvements and equipment | 546.4 | 488.2 | |
Less: accumulated depreciation and amortization | 417.3 | 369.8 | |
Net property and equipment | 129.1 | 118.4 | |
Total assets | $ 8,505.3 | $ 8,201.0 | |
LIABILITIES AND SHAREHOLDERS' EQUITY | |||
Current liabilities: | |||
Accounts payable | $ 2,557.2 | $ 2,612.9 | |
Employee compensation payable | 223.6 | 241.1 | |
Accrued payroll taxes and insurance | 663.6 | 615.2 | |
Accrued liabilities | 499.7 | 475.1 | |
Value added taxes payable | 398.8 | 370.8 | |
Short-term operating lease liability | 108.7 | 98.6 | |
Short-term borrowings and current maturities of long-term debt | 815.4 | 23.4 | |
Total current liabilities | 5,267.0 | 4,437.1 | |
Other liabilities: | |||
Long-term debt | 470.3 | 929.4 | |
Long-term operating lease liability | 328.2 | 279.0 | |
Other long-term liabilities | 444.6 | 428.6 | |
Total other liabilities | 1,243.1 | 1,637.0 | |
Shareholders' equity: | |||
ManpowerGroup shareholders' equity | |||
Common stock | 1.2 | 1.2 | |
Capital in excess of par value | 3,560.9 | 3,546.1 | |
Retained earnings | 3,717.5 | 3,812.3 | |
Accumulated other comprehensive loss | (450.9) | (443.0) | |
Treasury stock, at cost | (4,834.3) | (4,791.4) | |
Total ManpowerGroup shareholders' equity | 1,994.4 | 2,125.2 | |
Noncontrolling interests | 0.8 | 1.7 | |
Total shareholders' equity | 1,995.2 | 2,126.9 | |
Total liabilities and shareholders' equity | $ 8,505.3 | $ 8,201.0 | |
ManpowerGroup | |||
Consolidated Statements of Cash Flows | |||
(In millions) | |||
Six Months Ended | |||
June 30, | |||
2025 | 2024 | ||
(Unaudited) | |||
Cash Flows from Operating Activities: | |||
Net (loss) earnings | $ (61.5) | $ 99.8 | |
Adjustments to reconcile net earnings to net cash provided by operating activities: | |||
Depreciation and amortization | 43.4 | 43.0 | |
Loss on sales of subsidiaries, net | 6.2 | - | |
Non-cash Impairment of goodwill and other intangible assets | 88.7 | - | |
Deferred income taxes | 4.5 | 7.8 | |
Provision for doubtful accounts | 1.9 | 3.7 | |
Share-based compensation | 15.3 | 15.0 | |
Changes in operating assets and liabilities: | |||
Accounts receivable | 7.9 | 107.9 | |
Other assets | (92.4) | (70.1) | |
Accounts payable | (209.6) | (76.7) | |
Other liabilities | (147.2) | (152.3) | |
Cash used in operating activities | (342.8) | (21.9) | |
Cash Flows from Investing Activities: | |||
Capital expenditures | (31.3) | (23.7) | |
Acquisition of business, net of cash acquired | (1.0) | - | |
Impact to cash resulting from sales of subsidiaries | (2.1) | - | |
Proceeds from the sale of property and equipment | 0.4 | 2.1 | |
Cash used in investing activities | (34.0) | (21.6) | |
Cash Flows from Financing Activities: | |||
Net change in short-term borrowings | 67.1 | 49.2 | |
Net proceeds from revolving debt facility | 136.0 | 76.0 | |
Proceeds from long-term debt | 0.1 | 0.5 | |
Repayments of long-term debt | (0.4) | (1.0) | |
Payments of contingent consideration for acquisition | (1.3) | (2.8) | |
Proceeds from share-based awards | - | 0.7 | |
Payments to noncontrolling interests | - | (0.2) | |
Other share-based award transactions | (6.0) | (10.5) | |
Repurchases of common stock and excise tax | (38.2) | (77.0) | |
Dividends paid | (33.3) | (73.5) | |
Cash provided by (used in) financing activities | 124.0 | (38.6) | |
Effect of exchange rate changes on cash | 33.2 | (30.3) | |
Change in cash and cash equivalents | (219.6) | (112.4) | |
Cash and cash equivalents, beginning of period | 509.4 | 581.3 | |
Cash and cash equivalents, end of period | $ 289.8 | $ 468.9 | |
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SOURCE ManpowerGroup
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