KELLY SERVICES INC
For the period ended Sep 29, 2024. Filed Nov 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 29, 2024 · Filed Nov 7, 2024
KELYB$25.88+1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(In millions)
| September 29,2024 | December 31,2023 | |
|---|---|---|
| Assets | ||
| Current Assets | ||
| Cash and equivalents | $32.8 | $125.8 |
| Trade accounts receivable, less allowances of $8.6 and $10.9, respectively | 1,248.6 | 1,160.6 |
| Prepaid expenses and other current assets | 76.1 | 48.9 |
| Assets held for sale | — | 291.3 |
| Total current assets | 1,357.5 | 1,626.6 |
| Noncurrent Assets | ||
| Property and equipment: | ||
| Property and equipment | 138.9 | 138.1 |
| Accumulated depreciation | (112.4) | (113.5) |
| Net property and equipment | 26.5 | 24.6 |
| Operating lease right-of-use assets | 55.2 | 47.1 |
| Deferred taxes | 308.4 | 321.1 |
| Retirement plan assets | 259.2 | 230.3 |
| Goodwill | 374.0 | 151.1 |
| Intangibles, net | 264.3 | 137.7 |
| Other assets | 43.8 | 43.1 |
| Total noncurrent assets | 1,331.4 | 955.0 |
| Total Assets | $2,688.9 | $2,581.6 |
CONSOLIDATED BALANCE SHEETS
(In millions)
| September 29,2024 | December 31,2023 | |
|---|---|---|
| Liabilities and Stockholders’ Equity | ||
| Current Liabilities | ||
| Short-term borrowings | $0.2 | $— |
| Accounts payable and accrued liabilities | 604.7 | 646.1 |
| Operating lease liabilities | 11.9 | 8.4 |
| Accrued payroll and related taxes | 184.5 | 156.2 |
| Accrued workers’ compensation and other claims | 18.1 | 22.1 |
| Income and other taxes | 21.6 | 17.2 |
| Liabilities held for sale | — | 169.9 |
| Total current liabilities | 841.0 | 1,019.9 |
| Noncurrent Liabilities | ||
| Long-term debt | 228.2 | — |
| Operating lease liabilities | 51.8 | 42.9 |
| Accrued workers’ compensation and other claims | 33.7 | 40.9 |
| Accrued retirement benefits | 243.3 | 217.4 |
| Other long-term liabilities | 9.0 | 6.8 |
| Total noncurrent liabilities | 566.0 | 308.0 |
| Commitments and contingencies (see Contingencies footnote) | ||
| Stockholders’ Equity | ||
| Capital stock, $1.00 par value | ||
| Class A common stock, 100.0 million shares authorized; 35.2 million shares issued at 2024 and 2023 | 35.2 | 35.2 |
| Class B common stock, 10.0 million shares authorized; 3.3 million shares issued at 2024 and 2023 | 3.3 | 3.3 |
| Treasury stock, at cost | ||
| Class A common stock, 2.9 million shares at 2024 and 3.2 million shares at 2023 | (51.4) | (56.7) |
| Class B common stock | (0.6) | (0.6) |
| Paid-in capital | 32.0 | 30.6 |
| Earnings invested in the business | 1,264.7 | 1,241.7 |
| Accumulated other comprehensive income (loss) | (1.3) | 0.2 |
| Total stockholders’ equity | 1,281.9 | 1,253.7 |
| Total Liabilities and Stockholders’ Equity | $2,688.9 | $2,581.6 |
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