Company: KELYB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000055135-25-000080
Chunk: 12

Company: KELLY SERVICES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 12
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 and liabilities.  Long-term debt is related to revolving credit agreements and their carrying values approximate fair value as the interest rates are variable and reflect current market rates.Assets and Liabilities Measured at Fair Value on a Recurring BasisThe following tables present assets and liabilities measured at fair value on a recurring basis as of third quarter-end 2025 and year-end 2024 in the consolidated balance sheet by fair value hierarchy level, as described below.Level 1 measurements consist of unadjusted quoted prices in active markets for identical assets or liabilities.  Level 2 measurements include quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability.  Level 3 measurements include significant unobservable inputs. As of Third Quarter-End 2025DescriptionTotalLevel 1Level 2Level 3 (in millions)Money market funds$4.7 $4.7 $— $— Total assets at fair value$4.7 $4.7 $— $— Interest rate swaps$(0.1)$— $(0.1)$— EMEA staffing indemnification(1.2)— — (1.2)Brazil indemnification(1.0)— — (1.0)Total liabilities at fair value$(2.3)$— $(0.1)$(2.2)

15 

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

 As of Year-End 2024DescriptionTotalLevel 1Level 2Level 3 (in millions)Money market funds$6.4 $6.4 $— $— Total assets at fair value$6.4 $6.4 $— $— Interest rate swaps$(0.4)$— $(0.4)$— EMEA staffing indemnification(2.0)— — (2.0)Brazil indemnification(1.7)— — (1.7)Total liabilities at fair value$(4.1)$— $(0.4)$(3.7)Money Market FundsMoney market funds represent investments in money market funds that hold government securities, all of which are restricted as of third quarter-end 2025 and year-end 2024, and are included in other assets in the consolidated balance sheet.