Company: ASGN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000890564-25-000028
Chunk: 40

Company: ASGN Inc
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 40
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2024. This year-over-year change primarily related to an increase in accounts receivable days sales outstanding in the first three months of 2025.

Net cash used in investing activities for the first three months of 2025 was $316.3 million, comprised of $306.1 million used to acquire TopBloc and $10.2 million used for capital expenditures. Net cash used in investing activities for the first three months of 2024 was $10.8 million and related to capital expenditures. 

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Net cash provided by financing activities was $201.2 million for the first three months of 2025 and included net borrowings under the senior secured credit facility totaling $248.7 million, offset by $50.4 million used to repurchase the Company's common stock. Net cash used in financing activities in the first three months of the prior year was $80.0 million and included $79.7 million used to repurchase the Company's common stock.

For details on the Company’s senior secured credit facility, comprised of a revolving credit facility and term loan B, and unsecured senior notes, see Note 5. Long-Term Debt in Part I, Item 1 in this Quarterly Report on Form 10-Q ("10-Q").

Commitments and Contingencies — There have been no material changes to our contractual cash obligations from those described in our 2024 10-K.

Recent Accounting Pronouncements

There have been no recent accounting pronouncements that significantly impact the Company.

Critical Accounting Policies

There were no material changes to our critical accounting policies and estimates during the first quarter of 2025 compared with those disclosed in Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of our 2024 10-K.

Item 3 — Quantitative and Qualitative Disclosures about Market Risks

With respect to our quantitative and qualitative disclosures about interest rates risks, there have been no material changes to the information included in our 2024 10-K. Our exposure to interest rate risk is associated with our debt instruments. See Note 5. Long-Term Debt in Part I, Item 1 in this 10-Q for a further description of our debt instruments. A hypothetical 100 basis-point change in interest rates on variable-rate debt would have resulted in an interest expense fluctuation of approximately $7.4 million based on $742.5 million of debt outstanding for any 12-month period. We have not entered into any market risk sensitive instruments for trading purposes