Company: KELYB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000055135-25-000016
Chunk: 66

Company: KELLY SERVICES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 66
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 the consolidated statements of earnings.The integration and realignment costs included in SG&A are detailed below (in millions of dollars):First Quarter 2025IT-related ChargesSeveranceFees and OtherTotalEnterprise Talent Management$— $2.7 $— $2.7 Science, Engineering & Technology— 1.1 — 1.1 Corporate5.3 0.6 1.0 6.9 Total$5.3 $4.4 $1.0 $10.7 2024 ActionsIn the first quarter of 2024, the Company incurred $2.3 million of restructuring charges and transformation fees as a continuation of the comprehensive transformation initiative that was announced in the second quarter of 2023.  The transformation activities included $1.1 million of severance and $1.2 million of costs to execute the transformation through the use of an external consultant.  The Company's 2024 restructuring actions are complete with no remaining liability as of first quarter-end 2025.  No material adjustments are expected to be recorded.The restructuring and transformation costs included in SG&A are detailed below (in millions of dollars):First Quarter 2024Severance CostsTransformation CostsTotalEnterprise Talent Management$0.7 $— $0.7 Corporate0.4 1.2 1.6 Total$1.1 $1.2 $2.3 

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

7. GoodwillThe changes in the carrying amount of goodwill through first quarter-end 2025 are included in the table below (in millions of dollars).  The goodwill of $3.0 million resulting from the acquisition of CTC during the fourth quarter of 2024 was allocated to the Education reportable segment.  In the first quarter of 2025, the Company received a post-close net working capital adjustment of $0.1 million related to the acquisition of CTC.  The goodwill of $221.5 million resulting from the acquisition of MRP during the second quarter of 2024 was allocated to the SET reportable segment.  During the third quarter of 2024, the Company recorded a $1.4 million liability for a net working capital adjustment related to the acquisition of MRP.  The adjustment resulted in a $