Company: ASGN
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000890564-25-000008
Chunk: 78

Company: ASGN Inc
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 78
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 revolver, a maximum ratio of senior secured debt to trailing-twelve-months of lender-defined consolidated EBITDA of 3.75 to 1, which was 1.09 to 1 at December 31, 2024. The facility is secured by substantially all of the Company's assets and at December 31, 2024, the Company was in compliance with its debt covenants. 

Unsecured Senior Notes — The Company has $550.0 million of unsecured senior notes, due in 2028, which bear interest at 4.625 percent payable semiannually in arrears on May 15 and November 15. These notes are unsecured obligations and are subordinate to the senior secured credit facility. These notes also contain certain customary limitations including, the Company's ability to incur additional indebtedness, engage in mergers and acquisitions, transfer or sell assets, and make certain distributions. 

31

9. Commitments and Contingencies

Purchase Obligations — The Company's purchase obligations include non-cancelable job board service agreements, software maintenance and license agreements and software subscriptions. The following is a summary of these obligations as of December 31, 2024, which excludes lease liabilities and other current liabilities that are included in the accompanying consolidated balance sheets (in millions):2025$29.2 202610.7 20273.2 20280.5 $43.6  Other Commitments — The workers' compensation loss reserves were $2.8 million and $3.0 million, net of anticipated insurance and indemnification recoveries of $10.5 million and $10.5 million, at December 31, 2024 and 2023, respectively. To secure obligations for workers’ compensation claims and other obligations, the Company has undrawn stand-by letters of credit of $3.7 million.Certain employees participate in the Company’s Amended and Restated Change in Control Severance Plan and/or have separate agreements that provide for certain benefits in the event of termination at the Company's convenience, as defined by the plan or agreement. Generally, these benefits are based on the employee’s position in the Company and include severance and continuation of health insurance, and may contain acceleration of equity grants and a pro-rata bonus based on the portion of the year employed. Legal Proceedings — The Company is involved in various legal proceedings, investigations, claims, and litigation arising in the ordinary course of business, including collective class and P