Company: KELYB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000055135-25-000007
Chunk: 34

Company: KELLY SERVICES INC
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 34
---
 assets$47.0 $61.6 ROU Liabilities:Operating - currentOperating lease liabilities, current$12.3 $14.0 (2)Operating - noncurrentOperating lease liabilities, noncurrent50.9 51.9 (2)Total lease liabilities$63.2 $65.9 (1)ROU operating assets reflect an impairment charge of $12.1 million, related to our leased headquarters facility reflecting adjustments as to how we are utilizing the building as a part of our ongoing transformation efforts. The impairment charges related to the ROU assets are recorded in the asset impairment charge in the consolidated statements of earnings (see Restructuring and Transformation Activities footnote).(2)ROU operating assets and liabilities, current and non-current, include held for sale leases (see Acquisitions and Dispositions footnote).Weighted average remaining lease terms and discount rates for operating leases are as follows:December Year to Date20242023Weighted average remaining lease term (years):7.07.3Weighted average discount rate:5.8 %5.4 %

80

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

Other information related to leases is as follows (in millions of dollars):December Year to Date202420232022Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows from operating leases$15.0 $20.6 $22.4 Financing cash flows from financing leases— 1.2 1.4 ROU assets obtained in exchange for new lease obligations:Operating leases$10.4 $12.6 $10.7 Maturities of lease liabilities as of year-end 2024 are as follows (in millions of dollars):Operating Leases2025$15.5 202613.0 20279.5 20287.7 20296.9 Thereafter23.5 Total future lease payments76.1 Less: Imputed interest12.9 Total$63.2 

81

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

12. DebtRevolving Credit FacilityOn May 29, 2024, the Company entered into an agreement with its lenders to amend and restate its existing $200.0 million, five-year revolving credit