Company: KELYB
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000055135-25-000007
Chunk: 29

Company: KELLY SERVICES INC
Filing Date: 2025-02-13
Form: 10-K
Item: Item 8
Chunk 29
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 million and were recorded entirely in SG&A expenses in the consolidated statements of earnings, as detailed below (in millions of dollars):Severance CostsLease Termination CostsTotalProfessional & Industrial$0.1 $0.2 $0.3 Education0.4 — 0.4 Outsourcing & Consulting0.2 — 0.2 Corporate0.8 — 0.8 Total$1.5 $0.2 $1.7 Accrual SummaryA summary of our global restructuring balance sheet accrual, included in accrued payroll and related taxes and accounts payable and accrued liabilities in the consolidated balance sheet, is detailed below (in millions of dollars): Balance as of year-end 2022$0.3 Accruals40.6 Reductions for cash payments(23.8)Accrual adjustments(2.0)Balance as of year-end 202315.1 Accruals6.6 Reductions for cash payments(19.4)Disposition of EMEA staffing operations(1.5)Accrual adjustments(0.5)Balance as of year-end 2024$0.3 The remaining balance of $0.3 million as of year-end 2024 primarily represents severance costs and the majority is expected to be paid by first quarter-end 2025.  No material adjustments are expected to be recorded.

9. Goodwill and Intangible AssetsGoodwillThe changes in the carrying amount of goodwill for the fiscal years 2024 and 2023 are included in the table below (in millions of dollars):Science, Engineering & TechnologyEducationTotalBalance as of year-end 2022$111.3 $39.8 $151.1 Additions— — — Impairment adjustments— — — Balance as of year-end 2023111.3 39.8 151.1 Additions222.9 3.0 225.9 Impairment adjustments(72.8)— (72.8)Balance as of year-end 2024$261.4 $42.8 $304.2 

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KELLY SERVICES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

Our SET reportable segment includes goodwill acquired in the second quarter of 2021 and 2024, related