Company: KELYB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000055135-25-000007
Chunk: 56

Company: KELLY SERVICES INC
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 56
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 Asset information by reportable segment is not presented, since the Company does not produce such information internally nor does it use such information to manage its business.Prior periods have been recast to reflect the current period allocation method and new segment profitability measurement. The update had no impact on the consolidated financial information.

93

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

Fiscal Year Ended December 29, 2024(In millions of dollars)P&ISETEDUOCGInter-SegmentConsolidatedRevenue from services$1,470.7 $1,422.8 $972.3 $468.3 $(2.3)$4,331.8 Cost of services(1)1,209.4 1,087.2 832.5 322.4 (2.3)3,449.2 Direct salaries(2)141.2170.5 60.5 104.3 Other segment expenses(3)85.4 75.3 35.4 35.9 SG&A expenses226.6 245.8 95.9 140.2 — 708.5 Goodwill impairment charge— 72.8 — — — 72.8 Business unit profit (loss)$34.7 $17.0 $43.9 $5.7 $— $101.3 Corporate SG&A(58.4)Asset impairment charge(13.5)Gain on sale of assets5.4 Gain on sale of EMEA staffing operations1.6 Depreciation and amortization(4)(51.5)Consolidated earnings from operations(15.1)Other income (expense), net(6.8)Earnings before taxes$(21.9)(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 our services to customers whereas SG&A costs are incurred regardless of whether or not we place temporary employees with our customers.(2)  Direct salaries refers to the compensation expenses for