Company: KELYB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000055135-25-000052
Chunk: 29

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 29
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 action of providing the Company's services to customers whereas SG&A costs are incurred regardless of whether or not the Company places temporary employees with its customers.(2)  Direct salaries refers to the compensation expenses for employees directly related to the Company’s operations and service delivery.  These expenses include salaries, related payroll taxes, severance, various benefits and performance-based incentives and bonuses for these employees.(3)  For both second quarter and June year-to-date 2025, other segment expenses for each reportable segment included:•ETM and EDU- Shared services costs for IT, human resources, legal and finance support, other professional services and overhead expenses, facilities and equipment-related costs, and operational software licenses.•SET - Shared services costs for IT, human resources, legal and finance support, other professional services and overhead expenses, operational software licenses, and facilities and equipment-related costs.(4)  Represents total company depreciation and amortization of intangibles, including the amortization of hosted software.Second Quarter 2024(In millions of dollars)ETMSETEducationInter-SegmentConsolidatedRevenue from services$541.2 $265.7 $251.1 $(0.5)$1,057.5 Cost of services(1)432.2 197.9 214.2 (0.5)843.8 Direct salaries(2)62.736.0 15.6 Other segment expenses(3)30.812.9 8.6 SG&A expenses93.548.924.2— 166.6 Business unit profit (loss)$15.5 $18.9 $12.7 $— $47.1 Corporate SG&A$(12.4)Loss on sale of EMEA staffing operations(10.0)Asset impairment charge(5.5)Gain on sale of assets5.5 Depreciation and amortization(4)(12.5)Consolidated earnings from operations12.2 Gain on forward contract— Other income (expense), net(6.5)Earnings before taxes$5.7 

29 

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

June Year-to-Date 2024(In millions of dollars)ETMSETEducationInter-SegmentConsolidatedRevenue from services$1,065.3 $497.3 $541