Kelly Services Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 28, 2025	Dec '24 Dec 29, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 2, 2022
Net Income	-254.1	-0.6	36.4	-62.5	156.1
Depreciation & Amortization	53.3	50.9	50.1	51.9	51
Loss (Gain) From Sale of Assets	-5.1	-7	-	12.5	-
Asset Writedown & Restructuring Costs	102	86.3	2.4	41	-
Loss (Gain) From Sale of Investments	-	-	-	67.2	-121.8
Loss (Gain) on Equity Investments	-	-	-	-0.8	-5.4
Stock-Based Compensation	12.3	11.8	9.7	7.8	5.1
Provision & Write-off of Bad Debts	3.3	-0.1	1.6	1.5	1.6
Other Operating Activities	168.8	-37.2	-21.5	-53.9	8.6
Change in Accounts Receivable	94.6	-20.9	147.2	-99.3	-150.7
Change in Accounts Payable	-10.5	-31.1	-62.5	44.3	155.8
Change in Income Taxes	-	-	-	21.9	-4.6
Change in Other Net Operating Assets	-42	-25.2	-86.7	-107.9	-10.7
Operating Cash Flow	122.6	26.9	76.7	-76.3	85
Operating Cash Flow Growth	355.76%	-64.93%	-	-	-54.30%
Capital Expenditures	-8.5	-11.1	-15.3	-12	-11.2
Sale of Property, Plant & Equipment	1	4.3	-	10.1	-
Cash Acquisitions	-	-431.9	-	-143.1	-213
Divestitures	21.8	77.1	-	-6	-
Investment in Securities	6.4	-	-	316.4	5
Other Investing Activities	1.6	-	1.2	2.1	38.5
Investing Cash Flow	22.3	-361.6	-14.1	167.5	-180.7
Short-Term Debt Issued	-	-	-	0.8	-
Long-Term Debt Issued	1,598	1,340	-	-	-
Total Debt Issued	1,598	1,340	-	0.8	-
Short-Term Debt Repaid	-	-	-0.7	-	-0.2
Long-Term Debt Repaid	-1,736	-1,101	-1.2	-1.4	-1.5
Total Debt Repaid	-1,736	-1,101	-1.9	-1.4	-1.7
Net Debt Issued (Repaid)	-137.5	239.4	-1.9	-0.6	-1.7
Repurchase of Common Stock	-12.3	-12.5	-44	-35.9	-0.6
Common Dividends Paid	-11	-10.9	-11	-10.6	-4
Other Financing Activities	-0.3	-1.2	-2.7	-3.5	-1.8
Financing Cash Flow	-161.1	214.8	-59.6	-50.6	-8.1
Foreign Exchange Rate Adjustments	8.3	-2.1	2.2	2.3	-4.8
Net Cash Flow	-7.9	-122	5.2	42.9	-108.6
Free Cash Flow	114.1	15.8	61.4	-88.3	73.8
Free Cash Flow Growth	622.15%	-74.27%	-	-	-56.72%
Free Cash Flow Margin	2.68%	0.36%	1.27%	-1.78%	1.50%
Free Cash Flow Per Share	3.25	0.45	1.69	-2.32	1.87
Cash Interest Paid	12.2	10	2.8	1.3	1.7
Cash Income Tax Paid	4.5	10.9	8.9	61.2	14.1
Levered Free Cash Flow	170.56	65.33	43.31	41.04	98.71
Unlevered Free Cash Flow	178.31	72.14	45.31	42.35	100.28
Change in Working Capital	42.1	-77.2	-2	-141	-10.2

Source: S&P Global Market Intelligence. Standard template. Financial Sources.