Company: ASGN
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000890564-25-000028
Chunk: 17

Company: ASGN Inc
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 1
Chunk 17
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 strategic planning expenses, and public company expenses.Substantially all of the revenues from the Commercial Segment are generated from time and materials ("T&M") contracts. Federal Government Segment revenues by contract type are as follows (in millions): Three Months EndedMarch 31,20252024Firm-fixed-price$90.0 $89.2 T&M126.1 131.2 Cost reimbursable80.0 97.1 $296.1 317.5 Federal Government Segment revenues by customer type are as follows (in millions):Three Months EndedMarch 31,20252024Department of Defense and Intelligence Agencies$128.9 $150.1 Federal Civilian112.5 120.6 Department of Homeland Security45.6 37.2 Other9.1 9.6 $296.1 $317.5 __________In prior periods, revenues from the Department of Homeland Security were included within Federal Civilian revenues.

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10. Fair Value Measurements 

Recurring Fair Value Measurements — The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, and accrued payroll approximate their fair value based on their short-term nature.Nonrecurring Fair Value Measurements — Certain assets, such as goodwill and trademarks, are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as, when there is evidence of impairment. There were no fair value adjustments for non-financial assets or liabilities during the three months ended March 31, 2025.The carrying amount of long-term debt recorded in the Company’s accompanying condensed consolidated balance sheet at March 31, 2025 was $1.3 billion (see Note 5. Long-Term Debt) and its fair value was slightly less than the carrying value. The fair value for the term loan and senior notes was determined using quoted prices in active markets for identical liabilities (Level 1 inputs) and the carrying value of the revolving credit facility approximates its fair value.

Item 2 — Management’s Discussion and Analysis of Financial Condition and Results of Operations

The information in this discussion contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Such statements are based upon current expectations, as well as management's beliefs and assumptions, and involve a high degree of risk and uncertainty. Any statements