Company: ASGN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000890564-25-000063
Chunk: 67

Company: ASGN Inc
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 2
Chunk 67
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 The increase relates to the effects of the TopBloc acquisition, partially offset by older intangibles that have reached the end of their useful lives.

15

Interest Expense, Net 

Interest expense, net was $51.0 million, up from $49.4 million in the first nine months of 2024. Excluding $1.5 million of costs from the prior year period that related to the March 2024 amendment to the senior secured credit facility, the weighted-average outstanding borrowings and cash-based interest rates in the first nine months of 2025 and 2024 were $1.21 billion and 5.6 percent, and $1.05 billion and 6.1 percent, respectively. 

Provision for Income Taxes

The provision for income taxes was $34.8 million, down from $48.0 million in the first nine months of 2024 due to lower income before income taxes. The effective tax rate was 28.3 percent, up from 26.5 percent in the first nine months of 2024. The increase in the effective tax rate relates to shortfalls on stock-based compensation. 

Net Income

Net income was $88.3 million, down from $132.8 million in the first nine months of 2024.

Commercial Segment - Consulting Metrics

Commercial consulting bookings are the value of new contracts entered into during a specified period, including adjustments for the effects of changes in contract scope and contract terminations ("Bookings"). The underlying contracts are terminable by the client on short notice with little or no termination penalties. Measuring Bookings involves the use of estimates and judgments and there are no independent standards or requirements governing the calculation of bookings. Information regarding Bookings is not comparable to, nor should it be substituted for, an analysis of reported revenues. The book-to-bill ratio for our commercial consulting revenues is the ratio of Bookings to commercial consulting revenues for a specified period.

Three Months EndedTrailing-Twelve-Months EndedSeptember 30,September 30,(Dollars in millions)2025202420252024Bookings$324.0 $282.5 $1,426.6 $1,244.8 Book-to-Bill Ratio1.0 to 11.0 to 11.2 to 11.1 to 1

Federal Government Segment Metrics

Contract backlog for our Federal Government Segment represents the estimated amount of future revenues to be recognized under awarded contracts, including task orders and options