Company: ASGN
Filing Date: 2025-02-24
Form Type: 10-K
Source: 0000890564-25-000008
Chunk: 61

Company: ASGN Inc
Filing Date: 2025-02-24
Form: 10-K
Item: Item 8
Chunk 61
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, among others:

•We tested the design and operating effectiveness of management’s internal controls over their goodwill and indefinite-lived trademark qualitative impairment evaluation for the Creative Circle reporting unit, including those over the significant assumptions used in management’s qualitative impairment test. 

•We evaluated management's qualitative assessment of factors affecting the Creative Circle reporting unit’s forecasted revenue and profit margins by comparing the forecasts to (i) historical results, (ii) internal communications between management and the Board of Directors, and (iii) information included in the Company’s press releases. With the assistance of our fair value specialists, we evaluated the reasonableness of management's qualitative assessment by performing the following: 

◦Using guideline public companies, we (i) evaluated management’s discount rate; (ii) analyzed industry growth, margin, and valuation multiple trends, and (iii) analyzed the market capitalization trend of the Company. 

◦We conducted an analysis to assess the appropriateness of management’s royalty rate selection for the indefinite-lived trademark. 

•We evaluated the financial results of the Creative Circle reporting unit compared to forecasts, and negative evidence, if any, subsequent to the annual assessment date of October 31, 2024, through December 31, 2024.

/s/ DELOITTE & TOUCHE LLP

Richmond, Virginia

February 21, 2025

We have served as the Company's auditor since 1987.

20

ASGN INCORPORATED AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(In millions, except per share data)

 December 31, 20242023ASSETS  Current assets:  Cash and cash equivalents$205.2 $175.9 Accounts receivable, net650.8 741.5 Prepaid expenses and income taxes44.6 36.8 Other current assets17.1 19.1 Total current assets917.7 973.3 Property and equipment, net82.6 81.4 Operating lease right-of-use assets61.9 64.2 Identifiable intangible assets, net439.8 497.9 Goodwill1,893.1 1,894.1 Other non-current assets33.9 33.7 Total assets$3,429.0 $3,544.6 LIABILITIES AND STOCKHOLDERS’ EQUITY  Current liabilities:  Accounts payable$27.2