Company: KELYB
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000055135-25-000052
Chunk: 12

Company: KELLY SERVICES INC
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 12
---
urring BasisThe following tables present assets and liabilities measured at fair value on a recurring basis as of second 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.

16 

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

 As of Second Quarter-End 2025DescriptionTotalLevel 1Level 2Level 3 (In millions of dollars)Money market funds$6.0 $6.0 $— $— Total assets at fair value$6.0 $6.0 $— $— Interest rate swaps$(0.1)$— $(0.1)$— EMEA staffing indemnification(2.2)— — (2.2)Brazil indemnification(0.9)— — (0.9)Total liabilities at fair value$(3.2)$— $(0.1)$(3.1) As of Year-End 2024DescriptionTotalLevel 1Level 2Level 3 (In millions of dollars)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 second quarter-end 2025 and year-end 2024, and are included in other assets in the consolidated balance sheet.  These restricted funds represent cash balances that are required to be maintained to fund disability claims in California.  The valuations of money market funds are based on quoted market prices of those accounts as of the respective