Company: KELYB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000055135-25-000007
Chunk: 47

Company: KELLY SERVICES INC
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 47
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8 Other(3.2)(1.4)(3.4)Other income (expense), net$(6.8)$0.6 $1.6 

Included in interest income is interest from the Company's money market investments of $3.0 million in 2024 and 2023.  The increase in interest expense for 2024 reflects the increase in the Company's long-term debt (see Debt footnote).  Included in foreign exchange gains (losses) for 2022 was a $5.5 million foreign exchange gain on a U.S. dollar-denominated cash balance previously held by the Company's Japan entity (see Investment in Persol Holdings footnote).  Included in Other for 2024 is $8.6 million of transaction costs primarily related to the acquisition of MRP and net of the $3.4 million MRP earnout liability write-off, partially offset by a $3.8 million gain on equity securities, and a $0.7 million reduction in the Brazil indemnification liability (see Fair Value Measurements footnote).  Included in Other for 2023 was a gain of $2.0 million for the receipt of final proceeds in connection with our investment in Business Talent Group, LLC that was sold in 2021.  Included in Other for 2022 are transaction-related expenses for the 2022 acquisitions of RocketPower and PTS and sale of our Russia operations and expense related to the remeasurement of the Brazil indemnification liability (see Fair Value Measurements footnote). 

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KELLY SERVICES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

19. Income TaxesEarnings (loss) before taxes and equity in net earnings of affiliate for the years 2024, 2023 and 2022 were taxed under the following jurisdictions (in millions of dollars): 202420232022Domestic$(33.2)$29.9 $(39.4)Foreign11.3 (5.0)(31.8)Total$(21.9)$24.9 $(71.2)The provision for income taxes was as follows (in millions of dollars): 202420232022Current tax expense:   U.S. federal$(0.7)$1.0 $1.3 U.S. state and local(0.8)2.5 1.4 Foreign8.0 9.9