Company: ASGN
Filing Date: 2025-10-30
Form Type: 10-Q
Source: 0000890564-25-000063
Chunk: 35

Company: ASGN Inc
Filing Date: 2025-10-30
Form: 10-Q
Item: Part I, Item 1
Chunk 35
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unded Contract Backlog$609.8 $529.0 $612.2 Negotiated Unfunded Contract Backlog2,476.7 2,589.6 2,516.3 Contract Backlog$3,086.5 $3,118.6 $3,128.5 Contract Backlog Coverage Ratio2.6 to 12.5 to 12.5 to 1

16

Liquidity and Capital Resources

Our working capital, which is current assets less current liabilities, at September 30, 2025, was $456.1 million, and our cash and cash equivalents were $126.5 million. Our cash flows from operating activities have been our primary source of liquidity and have been sufficient to meet our working capital and capital expenditure needs. At September 30, 2025, we had approximately $460.0 million available under the $500.0 million revolving credit facility. We believe that our cash and cash equivalents on hand, expected operating cash flows, and availability under our revolving credit facility will be sufficient to fulfill our obligations, working capital requirements, and capital expenditures for the next 12 months and beyond.

Net cash provided by operating activities was $225.6 million for the first nine months of 2025, compared with $299.8 million in the same period of 2024. Net cash provided by operating activities before changes in operating assets and liabilities was $217.9 million, compared with $245.0 million in the same period of 2024. Changes in operating assets and liabilities provided net cash of $7.7 million for the first nine months of 2025, compared with $54.8 million in the same period of 2024. This year-over-year change primarily related to an increase in accounts receivable days sales outstanding in the first nine months of 2025.

Net cash used in investing activities for the first nine months of 2025 was $337.3 million, comprised of $306.1 million used to acquire TopBloc and $31.2 million used for capital expenditures. Net cash used in investing activities for the first nine months of 2024 was $24.0 million and related to capital expenditures. 

Net cash provided by financing activities was $31.8 million for the first nine months of 2025 and included net borrowings under the senior secured credit facility totaling $134.6 million, offset by $105.9 million used to repurchase the Company