Company: KELYB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000055135-25-000007
Chunk: 46

Company: KELLY SERVICES INC
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 46
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5.4 million was recorded in gain on sale of assets for the year-ended 2024 in the consolidated statements of earnings.  The sale was a part of the Company's ongoing strategy to further optimize its operating model.In October 2022, Kelly Properties, LLC, a wholly owned subsidiary of the Company, sold real property located in Troy, Michigan for a purchase price of $6.0 million, subject to final closing adjustments.  The Company received cash proceeds of $5.6 million in the fourth quarter of 2022, net of commissions and transaction expenses.  As of the date of the sale, the property 

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

had a carrying value of $4.7 million, resulting in a $0.9 million gain on the sale, which was recorded in gain on sale of assets in the consolidated statements of earnings.In June 2022, the Company sold an under-utilized real property for a purchase price of $4.5 million, subject to final closing adjustments. The Company received cash proceeds of $3.6 million in the second quarter of 2022 and previously received cash proceeds of $0.8 million as a deposit in 2021 when the contract was first executed. As of the date of the sale, the land had insignificant carrying value; as such, the resulting gain on the sale was $4.4 million, which was recorded in gain on sale of assets in the consolidated statements of earnings.In January 2022, the Company sold a property for a purchase price of $0.9 million, subject to final closing adjustments. The Company received cash proceeds of $0.9 million in the first quarter of 2022. As of the date of the sale, the property had an immaterial carrying value; as such, the resulting gain on the sale of the property was $0.9 million, which was recorded in gain on sale of assets in the consolidated statements of earnings.

18. Other Income (Expense), NetIncluded in other income (expense), net are the following (in millions of dollars): 202420232022Interest income$6.8 $6.7 $2.3 Interest expense(10.9)(3.2)(2.1)Foreign exchange gains (losses)0.5 (1.5)4.