Company: ASGN
Filing Date: 2025-07-30
Form Type: 10-Q
Source: 0000890564-25-000039
Chunk: 39

Company: ASGN Inc
Filing Date: 2025-07-30
Form: 10-Q
Item: Part I, Item 8
Chunk 39
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 percent equity. TopBloc is part of the Commercial Segment and its results of operations are included in the consolidated results of the Company from the date of its acquisition. The purchase accounting for this acquisition remains incomplete with respect to the provisional fair value of assets acquired and liabilities assumed, as management continues to gather and evaluate information about circumstances that existed as of the acquisition date. Measurement period adjustments will be recognized prospectively within 12 months from the date of acquisition. The preliminary fair value of the identifiable intangible assets and goodwill related to this acquisition is as follows (in millions):Estimated Useful Life in YearsCustomer relationships7$42.1 Internally-developed software34.4 TrademarksIndefinite32.4 $78.9 Goodwill$246.3 __________

Approximately $216.0 million of the goodwill for the TopBloc acquisition is deductible for income taxes.

4. Goodwill and Identifiable Intangible Assets

Goodwill by reportable segment is as follows (in millions):CommercialFederal GovernmentTotalBalance as of December 31, 2023$1,075.8 $818.3 $1,894.1 Translation adjustment(1.0)— (1.0)Balance as of December 31, 20241,074.8 818.3 1,893.1 Acquisition of TopBloc246.3 — 246.3 Translation adjustment1.6 — 1.6 Balance at June 30, 2025$1,322.7 $818.3 $2,141.0 Acquired identifiable intangible assets consisted of the following (in millions):June 30, 2025December 31, 2024Estimated Useful Life in YearsGross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying AmountSubject to amortization:Customer and contractual relationships6 - 13$447.4 $273.8 $173.6 $405.3 $245.0 $160.3 Non-compete agreements3 - 721.4 16.6 4.8 21.4 14.7 6.7 Internally-developed software34.4 0.5 3.9 — — — 473.2 290.9 182.3 426.7 259.7 167.0