Company: ASGN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000890564-25-000028
Chunk: 29

Company: ASGN Inc
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 8
Chunk 29
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 10-K for the year ended December 31, 2024 ("2024 10-K"). 

2. Balance Sheet Details

The table below presents selected balance sheet account balances (in millions):March 31,2025December 31,2024Other current assets:Prepaid expenses and income taxes$49.8 $44.6 Other17.5 17.1 $67.3 $61.7 Other non-current assets:Operating lease right-of-use assets$60.3 $61.9 Other34.9 33.9 $95.2 $95.8 Other current liabilities:Accounts payable$24.3 $27.2 Operating lease liabilities19.8 19.5Contract liabilities36.4 17.6Other79.7 84.8$160.2 $149.1 Other long-term liabilities:Operating lease liabilities$44.6 $46.9 Other15.4 17.3 $60.0 $64.2 

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3. AcquisitionOn March 4, 2025, the Company acquired TopBloc, LLC (“TopBloc”), a leading, tech-enabled Workday consultancy, for $340.0 million, consisting of 90 percent cash and 10 percent equity. TopBloc is part of the Commercial Segment and its results of operations are included in the consolidated results of the Company from the date of its acquisition. The purchase accounting for this acquisition remains incomplete with respect to the provisional fair value of assets acquired and liabilities assumed, as management continues to gather and evaluate information about circumstances that existed as of the acquisition date. Measurement period adjustments will be recognized prospectively within 12 months from the date of acquisition. The preliminary fair value of the identifiable intangible assets and goodwill related to this acquisition is as follows (in millions):Identifiable intangible assets:Estimated Useful Life in YearsCustomer relationships7$42.1 Internally-developed software34.4 TrademarksIndefinite-lived32.4 $78.9 Goodwill$245.9 __________

Approximately $215.6 million of the goodwill for the TopBloc acquisition is deductible for income taxes. 

4. Goodwill and Identifiable Intangible Assets

Goodwill by reportable segment is as follows (in millions):CommercialFederal GovernmentTotalBalance as of December 31, 2023$1,075.8 $818.3 $1