Company: KELYB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0000055135-25-000016
Chunk: 3

Company: KELLY SERVICES INC
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 3
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 in the BusinessBalance at beginning of period1,230.2 1,241.7 Net earnings5.8 25.8 Dividends(2.8)(2.7)Balance at end of period1,233.2 1,264.8 Accumulated Other Comprehensive Income (Loss)Balance at beginning of period(6.9)0.2 Other comprehensive income (loss), net of tax1.3 (0.7)Balance at end of period(5.6)(0.5)Stockholders’ Equity at end of period$1,240.5 $1,276.8 

See accompanying unaudited Notes to Consolidated Financial Statements.

8 

KELLY SERVICES, INC. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

(In millions of dollars) 13 Weeks Ended March 30,2025March 31,2024Cash flows from operating activities:  Net earnings$5.8 $25.8 Adjustments to reconcile net earnings to net cash from operating activities:  Depreciation and amortization11.0 8.0 Operating lease asset amortization2.6 2.2 Provision for credit losses and sales allowances3.0 0.5 Stock-based compensation3.7 2.8 Gain on sale of EMEA staffing operations— (11.6)Gain on forward contract— (1.2)Other, net(0.3)(0.2)Changes in operating assets and liabilities, net of acquisition(1.9)(51.8)Net cash from (used in) operating activities23.9 (25.5)Cash flows from investing activities:  Capital expenditures(2.5)(3.7)Proceeds from sale of PersolKelly investment6.4 — Proceeds from sale of EMEA staffing operations, net of cash disposed— 77.1 Payment for settlement of forward contract(2.4)Other investing activities(0.7)1.1 Net cash from investing activities3.2 72.1 Cash flows from financing activities:  Proceeds from long-term debt412.3 — Payments on long-term debt(447.1)— Dividend payments(2.8)(2.7)Payments of tax withholding for stock awards(1.8