Company: ASGN
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000890564-25-000008
Chunk: 83

Company: ASGN Inc
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 83
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 our eligible U.S. employees. Under terms of these plans, eligible employees are able to make contributions to these plans on a tax-deferred basis. The Company made matching contributions to the 401(k) plans of $26.6 million in 2024, $26.1 million in 2023, and $22.5 million in 2022. 

12. Income Taxes

The provision for income taxes consists of the following (in millions): Year Ended December 31, 202420232022Current:   Federal$19.2 $34.8 $44.4 State7.3 11.8 15.8 Foreign6.9 5.0 4.9  33.4 51.6 65.1 Deferred:   Federal and State31.8 28.5 31.6 Foreign(0.3)(1.7)—  31.5 26.8 31.6 $64.9 $78.4 $96.7  Income from continuing operations before income taxes consists of the following (in millions):  Year Ended December 31, 202420232022United States$222.1 $283.5 $347.6 Foreign18.0 14.2 16.0  $240.1 $297.7 $363.6 

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The components of deferred tax (liabilities) assets are as follows (in millions): December 31,20242023Intangibles$(215.6)$(185.3)Depreciation expense(4.6)(7.2)Operating lease right-of-use assets(15.1)(15.2)Operating lease liabilities16.0 15.9 Allowance for doubtful accounts1.4 1.2 Employee-related accruals15.8 17.5 Stock-based compensation10.0 11.8 Other4.6 5.3 $(187.5)$(156.0)The reconciliation between the amount computed by applying the U.S. federal statutory tax rate of 21 percent to income before income taxes and the income tax provision is as follows (in millions): Year Ended December 31, 202420232022Income tax provision at the statutory rate$50.4 $62.5 $76.3 State income taxes, net of federal