Company: KELYB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0000055135-25-000080
Chunk: 31

Company: KELLY SERVICES INC
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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(3)34.520.9 8.9 SG&A expenses96.468.123.0— 187.5 Business unit profit (loss)$18.0 $19.5 $(3.3)$— $34.2 Corporate SG&A$(17.0)Gain on sale of assets(0.1)Depreciation and amortization(4)(14.5)Consolidated earnings from operations2.6 Gain on forward contract— Other income (expense), net(4.4)Earnings (loss) before taxes$(1.8)

29 

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

September Year-to-Date 2024(in millions)ETMSETEducationInter-SegmentConsolidatedRevenue from services$1,626.9 $832.3 $683.1 $(1.6)$3,140.7 Cost of services(1)1,297.3 619.5 584.4 (1.6)2,499.6 Direct salaries(2)189.4112.2 44.8 Other segment expenses(3)98.648.0 26.4 SG&A expenses288.0160.271.2— 519.4 Business unit profit (loss)$41.6 $52.6 $27.5 $— $121.7 Corporate SG&A$(44.4)Gain on sale of EMEA staffing operations1.6 Asset impairment charge(5.5)Gain on sale of assets5.4 Depreciation and amortization(4)(37.2)Consolidated earnings from operations41.6 Gain on forward contract1.2 Other income (expense), net(9.1)Earnings before taxes$33.7 (1)  Cost of services are those costs directly associated with the earning of revenue.  The primary examples of these types of costs are temporary employee wages, along with other employee-related costs, including associated payroll taxes, temporary employee benefits, such as service bonus and holiday pay and health insurance, and workers’ compensation costs.  These costs differ fundamentally from SG&A expenses in that they arise specifically from the action of providing the Company's services to customers whereas SG&A costs are incurred regardless of whether or not the Company places