0000055135-23-000011 | 10-Q | XBRL Viewer

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Cover - shares	3 Months Ended
Cover - shares	Apr. 02, 2023	May 01, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Apr. 02, 2023
Document Transition Report	false
Entity File Number	0-1088
Entity Registrant Name	KELLY SERVICES, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	38-1510762
Entity Address, Address Line One	999 West Big Beaver Road
Entity Address, City or Town	Troy
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48084
City Area Code	248
Local Phone Number	362-4444
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0000055135
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		32,755,700
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		3,342,146
NASDAQ Global Market \| Class A Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class A Common
Trading Symbol	KELYA
Security Exchange Name	NASDAQ
NASDAQ Global Market \| Class B Common Stock
Document Information [Line Items]
Title of 12(b) Security	Class B Common
Trading Symbol	KELYB
Security Exchange Name	NASDAQ

Contingencies	3 Months Ended
Contingencies	Apr. 02, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies The Company is continuously engaged in litigation, threatened litigation, claims, audits or investigations arising in the ordinary course of its business, such as matters alleging employment discrimination, wage and hour violations, claims for indemnification or liability, violations of privacy rights, anti-competition regulations, commercial and contractual disputes, and tax-related matters which could result in a material adverse outcome. We record accruals for loss contingencies when we believe it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. Such accruals are recorded in accounts payable and accrued liabilities and in accrued workers’ compensation and other claims in the consolidated balance sheet. At first quarter-end 2023 and year-end 2022, the gross accrual for litigation costs amounted to $4.7 million and $2.3 million, respectively. The Company maintains insurance coverage which may cover certain losses. When losses exceed the applicable policy deductible and realization of recovery of the loss from existing insurance policies is deemed probable, the Company records receivables from the insurance company for the excess amount, which are included in prepaid expenses and other current assets and other assets in the consolidated balance sheet. At both first quarter-end 2023 and year-end 2022, the related insurance receivables amounted to $0.6 million. The Company estimates the aggregate range of reasonably possible losses, in excess of amounts accrued, is $0.1 million to $2.8 million as of first quarter-end 2023. This range includes matters where a liability has been accrued but it is reasonably possible that the ultimate loss may exceed the amount accrued and for matters where a loss is believed to be reasonably possible, but a liability has not been accrued. The aggregate range only represents matters in which we are currently able to estimate a range of loss and does not represent our maximum loss exposure. The estimated range is subject to significant judgment and a variety of assumptions and only based upon currently available information. For other matters, we are currently not able to estimate the reasonably possible loss or range of loss. While the ultimate outcome of these matters cannot be predicted with certainty, we believe that the resolution of any such proceedings will not have a material adverse effect on our financial condition, results of operations or cash flows.

Consolidated Statements of Earnings (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Revenue from services	$ 1,268.3	$ 1,296.4
Cost of services	1,014.2	1,037.8
Gross profit	254.1	258.6
Selling, general and administrative expenses	243.4	236.1
Gain on sale of assets	0.0	(0.9)
Earnings (loss) from operations	10.7	23.4
Loss on investment in Persol Holdings	0.0	(67.2)
Loss on currency translation from liquidation of subsidiary	0.0	(20.4)
Other income (expense), net	2.0	2.8
Earnings (loss) before taxes and equity in net earnings (loss) of affiliate	12.7	(61.4)
Income tax expense (benefit)	1.8	(13.0)
Net earnings (loss) before equity in net earnings (loss) of affiliate	10.9	(48.4)
Equity in net earnings (loss) of affiliate	0.0	0.8
Net earnings (loss)	$ 10.9	$ (47.6)
Basic earnings (loss) per share (in dollars per share)	$ 0.29	$ (1.23)
Diluted earnings (loss) per share (in dollars per share)	$ 0.29	$ (1.23)
Average shares outstanding (millions):
Basic (in shares)	37.1	38.6
Diluted (in shares)	37.4	38.6
Service
Revenue from services	$ 1,268.3	$ 1,296.4

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Statement of Comprehensive Income [Abstract]
Net earnings (loss)	$ 10.9	$ (47.6)
Other comprehensive income (loss), net of tax:
Foreign currency translation adjustments, net of tax expense of $0.0 and $0.1, respectively	2.3	(9.9)
Less: Reclassification adjustments included in net earnings (loss) - liquidation of Japan subsidiary	0.0	20.4
Less: Reclassification adjustments included in net earnings (loss) - equity method investment and other	0.0	2.5
Foreign currency translation adjustments	2.3	13.0
Other comprehensive income (loss)	2.3	13.0
Comprehensive income (loss)	$ 13.2	$ (34.6)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Statement of Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax expense (benefit)	$ 0.0	$ 0.1

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Apr. 02, 2023	Jan. 01, 2023
Current Assets
Cash and equivalents	$ 111.7	$ 153.7
Trade accounts receivable, less allowances of $11.0 and $11.2, respectively	1,438.5	1,491.6
Prepaid expenses and other current assets	82.3	69.9
Total current assets	1,632.5	1,715.2
Property and equipment:
Property and equipment	166.0	166.8
Accumulated depreciation	(137.4)	(139.0)
Net property and equipment	28.6	27.8
Operating lease right-of-use assets	65.0	66.8
Deferred taxes	301.9	299.7
Goodwill, net	151.1	151.1
Other assets	409.5	403.2
Total noncurrent assets	956.1	948.6
Total Assets	2,588.6	2,663.8
Current Liabilities
Short-term borrowings	0.0	0.7
Accounts payable and accrued liabilities	684.7	723.3
Operating lease liabilities	14.3	14.7
Accrued payroll and related taxes	275.9	315.8
Accrued workers’ compensation and other claims	23.1	22.9
Income and other taxes	52.9	51.4
Total current liabilities	1,050.9	1,128.8
Noncurrent Liabilities
Operating lease liabilities	53.4	55.0
Accrued workers’ compensation and other claims	41.0	40.7
Accrued retirement benefits	184.6	174.1
Other long-term liabilities	10.9	11.0
Total noncurrent liabilities	289.9	280.8
Commitments and contingencies (see Contingencies footnote)
Treasury stock, at cost
Paid-in capital	26.4	28.0
Earnings invested in the business	1,224.4	1,216.3
Accumulated other comprehensive income (loss)	(6.2)	(8.5)
Total stockholders’ equity	1,247.8	1,254.2
Total Liabilities and Stockholders’ Equity	2,588.6	2,663.8
Class A Common Stock
Capital stock, $1.00 par value
Common stock, value	35.2	35.1
Treasury stock, at cost
Treasury stock, value	(34.7)	(19.5)
Class B Common Stock
Capital stock, $1.00 par value
Common stock, value	3.3	3.4
Treasury stock, at cost
Treasury stock, value	$ (0.6)	$ (0.6)

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Apr. 02, 2023	Jan. 01, 2023
Allowance for trade accounts receivables	$ 11.0	$ 11.2
Class A Common Stock
Capital stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized (in shares)	100.0	100.0
Common stock, shares issued (in shares)	35.2	35.1
Treasury stock, common stock (in shares)	1.9	1.0
Class B Common Stock
Capital stock, par value (in dollars per share)	$ 1.00	$ 1.00
Common stock, shares authorized (in shares)	10.0	10.0
Common stock, shares issued (in shares)	3.3	3.4

Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Millions	Total	Capital Stock Capital Stock, Class A common stock	Capital Stock Capital Stock, Class B common stock	Treasury Stock Treasury Stock, Class A common stock	Treasury Stock Treasury Stock, Class B common stock	Paid-in Capital	Earnings Invested in the Business	Accumulated Other Comprehensive Income (Loss)
Beginning balance at Jan. 02, 2022		$ 36.7	$ 3.4	$ (14.5)	$ (0.6)	$ 23.9	$ 1,315.0	$ (27.7)
Increase (Decrease) in Stockholders' Equity
Conversions from Class B		0.0	0.0
Net issuance of stock awards and other				2.1	0.0	(1.1)
Purchase of treasury stock				0.0
Net earnings (loss)	$ (47.6)						(47.6)
Dividends							(1.9)
Share retirement		(1.6)					(25.6)
Other comprehensive income (loss), net of tax	13.0							13.0
Ending balance at Apr. 03, 2022	1,273.5	35.1	3.4	(12.4)	(0.6)	22.8	1,239.9	(14.7)
Beginning balance at Jan. 01, 2023	1,254.2	35.1	3.4	(19.5)	(0.6)	28.0	1,216.3	(8.5)
Increase (Decrease) in Stockholders' Equity
Conversions from Class B		0.1	(0.1)
Net issuance of stock awards and other				3.1	0.0	(1.6)
Purchase of treasury stock				(18.3)
Net earnings (loss)	10.9						10.9
Dividends							(2.8)
Share retirement		0.0					0.0
Other comprehensive income (loss), net of tax	2.3							2.3
Ending balance at Apr. 02, 2023	$ 1,247.8	$ 35.2	$ 3.3	$ (34.7)	$ (0.6)	$ 26.4	$ 1,224.4	$ (6.2)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

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+ Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Cash flows from operating activities:
Net earnings (loss)	$ 10.9	$ (47.6)
Adjustments to reconcile net earnings (loss) to net cash from operating activities:
Depreciation and amortization	8.4	7.5
Operating lease asset amortization	4.3	5.0
Provision for credit losses and sales allowances	0.4	0.8
Stock-based compensation	3.1	2.1
Gain on sale of equity securities	(2.0)	0.0
Loss on investment in Persol Holdings	0.0	67.2
Loss on currency translation from liquidation of subsidiary	0.0	20.4
Gain on foreign currency remeasurement	0.0	(5.5)
Gain on sale of assets	0.0	(0.9)
Equity in net (earnings) loss of PersolKelly Pte. Ltd.	0.0	(0.8)
Other, net	(0.3)	1.7
Changes in operating assets and liabilities, net of acquisitions	(38.3)	(156.0)
Net cash used in operating activities	(13.5)	(106.1)
Cash flows from investing activities:
Capital expenditures	(4.4)	(1.7)
Proceeds from sale of assets	0.0	0.9
Acquisition of companies, net of cash received	0.0	(58.3)
Proceeds from sale of Persol Holdings investment	0.0	196.9
Proceeds from sale of equity method investment	0.0	119.5
Proceeds from equity securities	2.0	0.0
Other investing activities	0.2	(0.2)
Net cash (used in) from investing activities	(2.2)	257.1
Cash flows from financing activities:
Net change in short-term borrowings	(0.7)	0.2
Financing lease payments	(0.4)	(0.3)
Dividend payments	(2.8)	(1.9)
Payments of tax withholding for stock awards	(1.2)	(0.8)
Buyback of common shares	(18.3)	(27.2)
Contingent consideration payments	(1.4)	(0.7)
Net cash used in financing activities	(24.8)	(30.7)
Effect of exchange rates on cash, cash equivalents and restricted cash	(0.8)	(1.7)
Net change in cash, cash equivalents and restricted cash	(41.3)	118.6
Cash, cash equivalents and restricted cash at beginning of period	162.4	119.5
Cash, cash equivalents and restricted cash at end of period	121.1	238.1
Cash and cash equivalents	111.7	230.3
Restricted cash included in prepaid expenses and other current assets	0.5	0.4
Restricted cash included in other assets	$ 8.9	$ 7.4

Basis of Presentation	3 Months Ended
Basis of Presentation	Apr. 02, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of PresentationThe accompanying unaudited consolidated financial statements of Kelly Services, Inc. (the “Company,” “Kelly,” “we” or “us”) have been prepared in accordance with Rule 10-01 of Regulation S-X and do not include all the information and notes required by generally accepted accounting principles (“GAAP”) for complete financial statements. In the opinion of management, all adjustments, including normal recurring adjustments, necessary for a fair statement of the results of the interim periods, have been made. The results of operations for such interim periods are not necessarily indicative of results of operations for a full year. The unaudited consolidated financial statements should be read in conjunction with the Company’s consolidated financial statements and notes thereto for the fiscal year ended January 1, 2023, included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 16, 2023 (the 2022 consolidated financial statements). There were no changes in accounting policies as disclosed in the Form 10-K. The Company’s first fiscal quarter ended on April 2, 2023 and April 3, 2022, each of which contained 13 weeks.Certain reclassifications have been made to the prior year's consolidated financial statements to conform to the current year's presentation.

Revenue

3 Months Ended

Apr. 02, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue Disaggregated by Service Type

Kelly has five operating segments: Professional & Industrial (“P&I”), Science, Engineering & Technology (“SET”), Education, Outsourcing & Consulting Group ("Outsourcing & Consulting," "OCG") and International. Other than OCG, each segment delivers talent through staffing services, permanent placement or outcome-based services. Our OCG segment delivers talent solutions including managed service provider ("MSP"), payroll process outsourcing ("PPO"), recruitment process outsourcing ("RPO"), and talent advisory services. International also delivers RPO talent solutions within its local markets.

The following table presents our segment revenues disaggregated by service type (in millions of dollars):


	First Quarter
	2023		2022
Professional & Industrial
Staffing services	$	271.5	$	334.9
Permanent placement	4.3		10.2
Outcome-based services	114.0		99.2
Total Professional & Industrial	389.8		444.3

Science, Engineering & Technology
Staffing services	202.3		220.6
Permanent placement	5.5		8.0
Outcome-based services	98.6		88.5
Total Science, Engineering & Technology	306.4		317.1

Education
Staffing services	247.6		171.9
Permanent placement	1.8		1.5
Total Education	249.4		173.4

Outsourcing & Consulting
Talent solutions	114.6		109.1
Total Outsourcing & Consulting	114.6		109.1

International
Staffing services	205.6		241.7
Permanent placement	5.9		6.9
Talent solutions	0.3		4.2
Total International	211.8		252.8

Total Intersegment	(3.7)		(0.3)

Total Revenue from Services	$	1,268.3	$	1,296.4

Revenue Disaggregated by Geography

Our operations are subject to different economic and regulatory environments depending on geographic location. Our P&I and Education segments operate in the Americas region, our SET segment operates in the Americas and Europe regions, and OCG operates in the Americas, Europe and Asia-Pacific regions. Our International segment includes our staffing operations in Europe as well as Mexico, which is included in the Americas region.

The below table presents our revenues disaggregated by geography (in millions of dollars):


	First Quarter
	2023		2022
Americas
United States	$	959.2	$	956.6
Canada	44.9		39.1
Puerto Rico	26.9		27.6
Mexico	16.7		10.3

Total Americas Region	1,047.7		1,033.6

Europe
Switzerland	52.9		55.0
France	47.8		54.6
Portugal	44.4		41.9
Italy	16.9		19.5

Russia	—		29.7



Other	47.7		51.3
Total Europe Region	209.7		252.0







Total Asia-Pacific Region	10.9		10.8

Total Kelly Services, Inc.	$	1,268.3	$	1,296.4

The below table presents our SET, OCG and International segment revenues disaggregated by geographic region (in millions of dollars):


	First Quarter
	2023		2022
Science, Engineering & Technology
Americas	$	302.1	$	313.8
Europe	4.3		3.3
Total Science, Engineering & Technology	$	306.4	$	317.1

Outsourcing & Consulting
Americas	$	94.1	$	92.3
Europe	9.6		6.0
Asia-Pacific	10.9		10.8
Total Outsourcing & Consulting	$	114.6	$	109.1

International
Americas	$	16.0	$	10.1
Europe	195.8		242.7
Total International	$	211.8	$	252.8

Deferred Costs

Deferred fulfillment costs, which are included in prepaid expenses and other current assets in the consolidated balance sheet, were $1.9 million as of first quarter-end 2023 and $2.7 million as of year-end 2022. Amortization expense for the deferred costs in the first quarter of 2023 was $2.4 million and in the first quarter of 2022 was $1.9 million.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

+ Details

Credit Losses

3 Months Ended

Apr. 02, 2023

Credit Loss [Abstract]

Credit Losses

The rollforward of our allowance for credit losses related to trade accounts receivable, which is recorded in trade accounts receivable, less allowance in the consolidated balance sheet, is as follows (in millions of dollars):


	First Quarter
	2023		2022
Allowance for credit losses:
Beginning balance	$	7.7	$	9.4
Current period provision	0.8		0.4
Currency exchange effects	0.1		(0.1)
Write-offs	(0.8)		(1.2)
Ending balance	$	7.8	$	8.5

Write-offs are presented net of recoveries, which were not material for first quarter-end 2023 or 2022. No other allowances related to other receivables were material as of first quarter-end 2023 or year-end 2022.

- Definition

The entire disclosure for credit loss on financial instrument measured at amortized cost basis, net investment in lease, off-balance sheet credit exposure, and available-for-sale debt security.

+ References + Details

Acquisitions and Disposition

3 Months Ended

Apr. 02, 2023

Business Combination and Asset Acquisition [Abstract]

Acquisitions and Disposition

Acquisitions

In the second quarter of 2022, Kelly Services USA, LLC ("KSU"), a wholly owned subsidiary of the Company, acquired Pediatric Therapeutic Services ("PTS"), as detailed below. In the first quarter of 2022, the Company acquired Rocket Power Holdings LLC and Rocket Power Ops LLC (collectively, "RocketPower"), as detailed below.

Pediatric Therapeutic Services

On May 2, 2022, KSU acquired 100% of the membership interests of PTS for a purchase price of $82.1 million. PTS is a specialty firm that provides and manages various state and federally mandated in-school therapy services. This acquisition expands Education's K-12 solution offering in the education staffing market and serves as an entry point into the therapeutic services market. Under terms of the purchase agreement, the purchase price was adjusted for cash held by PTS at the closing date and estimated working capital adjustments resulting in the Company paying cash of $85.7 million. Total consideration included $1.1 million of additional consideration that is payable to the seller related to employee retention credits and is recorded in accounts payable and accrued liabilities in the consolidated balance sheet. In the third quarter of 2022, the Company paid $0.1 million of the employee retention credits and the remainder is expected to be paid by second quarter-end 2023. The total consideration was as follows (in millions of dollars):


Cash consideration paid	$	85.7
Additional consideration payable	1.1
Total consideration	$	86.8

As of May 2023, the purchase price allocation for this acquisition is final. PTS's results of operations are included in the Education segment. Our consolidated revenues and earnings from operations for the first quarter of 2023 included $15.8 million and $2.7 million, respectively, from PTS. Goodwill generated from the acquisition was primarily attributable to expected synergies from combining operations and expanding market potential and was assigned to the Education operating segment. All of the goodwill is expected to be deductible for tax purposes.

RocketPower

On March 7, 2022, the Company acquired 100% of the issued and outstanding membership interests of RocketPower for a purchase price of $59.3 million. RocketPower is a provider of RPO and other outsourced talent solutions to customers including U.S. technology companies. This acquisition expands OCG's RPO solution and delivery offering. Under terms of the purchase agreement, the purchase price was adjusted for cash held by RocketPower at the closing date and estimated working capital adjustments resulting in the Company paying cash of $61.8 million. Total consideration included $1.1 million of additional consideration that is payable to the seller in 2023 related to employee retention credits and contingent consideration with an initial estimated fair value of $0.6 million related to an earnout payment with a maximum potential cash payment of $31.8 million in the event certain financial metrics are met per the terms of the agreement. The initial fair value of the earnout was established using a Black Scholes model, see the Fair Value Measurements footnote for information regarding subsequent reassessments. The total consideration was as follows (in millions of dollars):


Cash consideration paid	$	61.8
Additional consideration payable	1.1
Contingent consideration	0.6
Total consideration	$	63.5

As of first quarter-end 2023, the purchase price allocation for this acquisition is final. RocketPower's results of operations are included in the OCG segment. Our consolidated revenues for the first quarter of 2023 included $2.6 million from RocketPower and our consolidated earnings from operations for the first quarter of 2023 included a loss of $2.6 million from RocketPower. Goodwill generated from the acquisition was primarily attributable to expected synergies from combining operations and expanding market potential and was assigned to the OCG operating segment. The amount of goodwill expected to be

deductible for tax purposes is approximately $27.5 million. In the third and fourth quarters of 2022, changes in market conditions triggered interim impairment tests for both long-lived assets and goodwill, resulting in the Company recording a goodwill impairment charge of $41.0 million.

Disposition

On July 20, 2022, the Company completed the sale of its Russia operations, which was included in the Company's International operating segment.

Investment in Persol Holdings	3 Months Ended
Investment in Persol Holdings	Apr. 02, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in Persol Holdings	Investment in Persol Holdings Prior to February 2022, the Company had a yen-denominated investment through the Company's subsidiary, Kelly Services Japan, Inc., in the common stock of Persol Holdings Co., Ltd. ("Persol Holdings"), the 100% owner of Persol Asia Pacific Pte. Ltd., the Company’s joint venture partner in PersolKelly Pte. Ltd. (the "JV"). In February 2022, the Company's board approved a series of transactions that ended the cross-shareholding agreement with Persol Holdings. On February 14, 2022, the Company repurchased 1,576,169 Class A and 1,475 Class B common shares held by Persol Holdings for $27.2 million. The purchase price was based on the average closing price of the last five business days prior to the transaction. The shares were subsequently retired and returned to an authorized, unissued status. In accordance with the Company's policy, the amount paid to repurchase the shares in excess of par value of $25.6 million was recorded to earnings invested in the business in the consolidated balance sheet at the time of the share retirement. On February 15, 2022, Kelly Services Japan, Inc. sold the investment in the common stock of Persol Holdings in an open-market transaction for proceeds of $196.9 million, net of transaction fees. As our investment was a noncontrolling interest in Persol Holdings, the investment was recorded at fair value based on the quoted market price of Persol Holdings stock on the Tokyo Stock Exchange through the date of the transaction. The $67.2 million loss in the first quarter of 2022 recorded in loss on investment in Persol Holdings in the consolidated statements of earnings included $52.4 million for losses related to changes in fair value up to the date of the transaction and $14.8 million for the discount from the market price on the date of the sale and transaction costs. Subsequent to the transaction discussed above, the Company commenced the dissolution process of its Kelly Services Japan, Inc. subsidiary, which was considered substantially liquidated as of first quarter-end 2022. As a result, the Company recognized a $20.4 million cumulative translation adjustment loss in the first quarter of 2022, which was recorded in loss on currency translation from liquidation of subsidiary in the consolidated statements of earnings. The Company also recognized a $5.5 million foreign exchange gain related to U.S.-denominated cash equivalents held by Kelly Services Japan, Inc. following the sale of the Persol Holdings shares and prior to a dividend payment to the Company in the first quarter of 2022. The foreign exchange gain was recorded in other income (expense), net in the consolidated statements of earnings. The dissolution of the Kelly Services Japan, Inc. subsidiary was completed in the fourth quarter of 2022.

Investment in PersolKelly Pte Ltd.	3 Months Ended
Investment in PersolKelly Pte Ltd.	Apr. 02, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investment in PersolKelly Pte Ltd.	Investment in PersolKelly Pte. Ltd. Prior to February 2022, the Company had a 49% ownership interest in the JV (see Investment in Persol Holdings footnote above), a staffing services business operating in ten geographies in the Asia-Pacific region. On February 14, 2022, the Company entered into an agreement to sell 95% of the Company's shares in the JV to Persol Asia Pacific Pte. Ltd. On March 1, 2022, the Company received cash proceeds of $119.5 million. The carrying value of the shares sold was $117.6 million. In addition, the Company had $1.9 million of accumulated other comprehensive income representing the Company's share of the JV's other comprehensive income over time related to the shares sold that was realized upon the sale, offsetting the $1.9 million gain that resulted from the proceeds in excess of the carrying value. The operating results of the Company’s interest in the JV were accounted for on a one-quarter lag under the equity method and were reported in equity in net earnings (loss) of affiliate in the consolidated statements of earnings through the date of the sale. Such amounts were earnings of $0.8 million in the first quarter of 2022, representing the results through the date of the sale. After the sale, the Company has a 2.5% ownership interest in the JV and discontinued its use of equity method accounting. The remaining investment is accounted for as an equity investment without a readily determinable fair value (see Fair Value Measurements footnote). The equity investment, included in other assets on the Company’s consolidated balance sheet, totaled $6.4 million as of first quarter-end 2023 and year-end 2022.

Fair Value Measurements

3 Months Ended

Apr. 02, 2023

Fair Value Disclosures [Abstract]

Fair Value Measurements

Trade accounts receivable, short-term borrowings, accounts payable, accrued liabilities and accrued payroll and related taxes approximate their fair values due to the short-term maturities of these assets and liabilities.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present assets and liabilities measured at fair value on a recurring basis as of first quarter-end 2023 and year-end 2022 in the consolidated balance sheet by fair value hierarchy level, as described below.

Level 1 measurements consist of unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 measurements include quoted prices in markets that are not active or model inputs that are observable either directly or indirectly for substantially the full term of the asset or liability. Level 3 measurements include significant unobservable inputs.


	As of First Quarter-End 2023
Description	Total		Level 1		Level 2		Level 3
	(In millions of dollars)
Money market funds	$	54.1	$	54.1	$	—	$	—


Total assets at fair value	$	54.1	$	54.1	$	—	$	—

Brazil indemnification	$	(3.5)	$	—	$	—	$	(3.5)


Total liabilities at fair value	$	(3.5)	$	—	$	—	$	(3.5)


	As of Year-End 2022
Description	Total		Level 1		Level 2		Level 3
	(In millions of dollars)
Money market funds	$	108.3	$	108.3	$	—	$	—

Total assets at fair value	$	108.3	$	108.3	$	—	$	—

Brazil indemnification	$	(3.4)	$	—	$	—	$	(3.4)
Greenwood/Asher earnout	(3.3)		—		—		(3.3)

Total liabilities at fair value	$	(6.7)	$	—	$	—	$	(6.7)

Money market funds represent investments in money market funds that hold government securities, of which $8.8 million as of first quarter-end 2023 and $8.6 million as of year-end 2022 are restricted as to use and are included in other assets in the consolidated balance sheet. The money market funds that are restricted as to use account for the majority of our restricted cash balance and represents cash balances that are required to be maintained to fund disability claims in California. The remaining money market funds as of first quarter-end 2023 and year-end 2022 are included in cash and equivalents in the consolidated balance sheet. The valuations of money market funds are based on quoted market prices of those accounts as of the respective period end.

As of first quarter-end 2023, the Company had an indemnification liability totaling $3.5 million with $0.3 million in accounts payable and accrued liabilities and $3.2 million in other long-term liabilities, and $3.4 million at year-end 2022, with $0.3 million in accounts payable and accrued liabilities and $3.1 million in other long-term liabilities in the consolidated balance sheet related to the 2020 sale of the Brazil operations. As part of the sale, the Company agreed to indemnify the buyer for losses and costs incurred in connection with certain events or occurrences initiated within a six-year period after closing. The aggregate losses for which the Company will provide indemnification shall not exceed $8.8 million. The valuation of the indemnification liability was established using a discounted cash flow methodology based on probability weighted-average cash

flows discounted by weighted-average cost of capital. The valuation, which represents the fair value, is considered a Level 3 liability, and is being measured on a recurring basis. During the first quarter of 2023 and 2022, the Company recognized an increase of $0.1 million and $0.5 million, respectively, to the indemnification liability related to exchange rate fluctuations in other income (expense), net in the consolidated statements of earnings.

The Company recorded an earnout liability relating to the 2020 acquisition of Greenwood/Asher, with a remaining liability of $3.3 million at year-end 2022 in accounts payable and accrued liabilities in the consolidated balance sheet. The initial valuation of the earnout liability was established using a Black Scholes model and represented the fair value and was considered a Level 3 liability. During the first quarter of 2023, the Company paid the remaining earnout liability totaling $3.3 million, representing the year two portion of the earnout. In the consolidated statements of cash flows, $1.4 million of the payment is reflected as a financing activity representing the initial fair value of the earnout, with the remainder flowing through operating activities. There is no remaining earnout liability as of first quarter-end 2023. During the first quarter of 2022, the Company paid the year one portion of the earnout totaling $2.3 million. In the consolidated statements of cash flows, $0.7 million of the payment is reflected as a financing activity representing the initial fair value of the earnout, with the remainder flowing through operating activities.

The Company recorded an initial earnout liability relating to the 2022 acquisition of RocketPower, totaling $0.6 million, with $0.5 million in accounts payable and accrued liabilities and $0.1 million in other long-term liabilities in the consolidated balance sheet as of first quarter-end 2022 (see Acquisitions and Disposition footnote). The initial valuation of the earnout liability was established using a Black Scholes model and represented the fair value and was considered a Level 3 liability. In the third quarter of 2022, we reassessed the value of the earnout liability and determined that the fair value was zero. There have been no changes to the value as a result of first quarter 2023 assessments and there is no related liability as of first quarter-end 2023. The maximum total cash payments which may be due related to the earnout liability is $12.9 million, which represents the second year earnout period. There is no longer a maximum cash payment or liability associated with the first year earnout as the corresponding period has concluded.

Equity Investment Without Readily Determinable Fair Value

On March 1, 2022, the Company sold the majority of its investment in the JV (see Investment in PersolKelly Pte. Ltd. footnote), with the remaining 2.5% interest now being measured using the measurement alternative for equity investments without a readily determinable fair value. The measurement alternative represents cost, less impairment, plus or minus observable price changes. The sale of the shares of the JV represented an observable transaction requiring the Company to calculate the current fair value based on the purchase price of the shares, in which the resulting adjustment was not material. The investment totaled $6.4 million as of first quarter-end 2023, representing total cost plus observable price changes to date.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Restructuring

3 Months Ended

Apr. 02, 2023

Restructuring and Related Activities [Abstract]

Restructuring

2023 Actions

In the first quarter of 2023, the Company undertook restructuring actions to further our cost management efforts in response to the current demand levels and reflect a repositioning of our P&I staffing business to better capitalize on opportunities in local markets. Restructuring costs incurred in the first quarter of 2023 totaled $5.7 million and were recorded entirely in selling, general and administrative ("SG&A") expenses in the consolidated statements of earnings, as detailed below (in millions of dollars):


	Severance Costs		Lease Termination and Other Costs		Total

Professional & Industrial	$	2.7	$	0.3	$	3.0
Science, Engineering & Technology	0.4		0.1		0.5
Education	0.1		—		0.1
Outsourcing & Consulting	0.6		—		0.6
International	0.6		—		0.6
Corporate	0.2		0.7		0.9
Total	$	4.6	$	1.1	$	5.7

2022 Actions

In the first quarter of 2022, the Company took restructuring actions designed to increase efficiency. Restructuring costs incurred in the first quarter of 2022 totaled $1.7 million and were recorded entirely in SG&A expenses in the consolidated statements of earnings, as detailed below (in millions of dollars):


	Severance Costs		Lease Termination Costs		Total

Professional & Industrial	$	0.1	$	0.2	$	0.3

Education	0.4		—		0.4
Outsourcing & Consulting	0.2		—		0.2

Corporate	0.8		—		0.8
Total	$	1.5	$	0.2	$	1.7

Accrual Summary

A summary of the 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
Additions charged to Professional & Industrial	3.0
Additions charged to Science, Engineering & Technology	0.5
Additions charged to Outsourcing & Consulting	0.6
Additions charged to Education	0.1
Additions charged to International	0.6
Additions charged to Corporate	0.9

Reductions for cash payments related to all restructuring activities	(1.0)
Balance as of first quarter-end 2023	$	5.0

The remaining balance of $5.0 million as of first quarter-end 2023 primarily represents severance costs, and the majority is expected to be paid by year-end 2023. No material adjustments are expected to be recorded.

Accumulated Other Comprehensive Income (Loss)

3 Months Ended

Apr. 02, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The changes in accumulated other comprehensive income (loss) by component, net of tax, for the first quarter 2023 and 2022 are included in the table below. Amounts in parentheses indicate debits.


	First Quarter
	2023		2022
	(In millions of dollars)
Foreign currency translation adjustments:
Beginning balance	$	(7.4)	$	(25.0)
Other comprehensive income (loss) before reclassifications	2.3		(9.9)
Amounts reclassified from accumulated other comprehensive income (loss) - liquidation of Japan subsidiary	—		20.4		(1)
Amounts reclassified from accumulated other comprehensive income (loss) - equity method investment and other	—		2.5		(2)
Net current-period other comprehensive income (loss)	2.3		13.0
Ending balance	(5.1)		(12.0)









Pension liability adjustments:
Beginning balance	(1.1)		(2.7)
Other comprehensive income (loss) before reclassifications	—		—
Amounts reclassified from accumulated other comprehensive income (loss)	—		—
Net current-period other comprehensive income (loss)	—		—
Ending balance	(1.1)		(2.7)

Total accumulated other comprehensive income (loss)	$	(6.2)	$	(14.7)

(1)Amount was recorded in the loss on currency translation from liquidation of subsidiary in the consolidated statements of earnings.

(2)Of the amount included in this line item, $1.9 million was recorded in the other income (expense), net in the consolidated statement of earnings related to the investment in PersolKelly Pte. Ltd., (see Investment in PersolKelly Pte. Ltd. footnote for more details).

Earnings (Loss) Per Share

3 Months Ended

Apr. 02, 2023

Earnings Per Share [Abstract]

Earnings (Loss) Per Share

The reconciliation of basic and diluted earnings (loss) per share on common stock for the first quarter 2023 and 2022 follows (in millions of dollars except per share data):


	First Quarter
	2023		2022
Net earnings (loss)	$	10.9	$	(47.6)
Less: earnings allocated to participating securities	(0.2)		—
Net earnings (loss) available to common shareholders	$	10.7	$	(47.6)

Average shares outstanding (millions):
Basic	37.1		38.6
Dilutive share awards	0.3		—
Diluted	37.4		38.6

Basic earnings (loss) per share	$	0.29	$	(1.23)
Diluted earnings (loss) per share	$	0.29	$	(1.23)

Dilutive share awards are related to deferred common stock related to the non-employee directors deferred compensation plan and performance shares for the first quarter of 2023 (see Stock-Based Compensation footnote for a description of performance shares). Due to our net loss in the first quarter of 2022, potentially dilutive shares primarily related to deferred common stock associated with the non-employee directors deferred compensation plan of 0.2 million shares had an anti-dilutive effect on diluted earnings per share and were excluded from the computation for the first quarter of 2022. Dividends paid per share for Class A and Class B common stock were $0.075 for the first quarter 2023 and $0.050 for the first quarter 2022.

In connection with our $50.0 million Class A share repurchase program authorized by the Company's board of directors in November 2022, the Company repurchased 1,099,728 shares for $18.3 million during the first quarter of 2023. A total of $23.9 million remains available under the share repurchase program. The repurchase program expires in November 2023.

Stock-Based Compensation

3 Months Ended

Apr. 02, 2023

Share-Based Payment Arrangement [Abstract]

Stock-Based Compensation

For the first quarter of 2023, the Company recognized stock compensation expense of $3.1 million and a related tax benefit of $0.3 million. For the first quarter of 2022, the Company recognized stock compensation expense of $2.1 million and a related tax benefit of $0.3 million.

During the first quarter of 2023, the Company granted performance share awards associated with the Company’s Class A common stock to certain senior officers. The payment of performance share awards is contingent upon the achievement of specific revenue growth and earnings before interest, taxes, depreciation and amortization ("EBITDA") margin performance goals ("financial measure performance share awards") over a stated period of time. The maximum number of performance shares that may be earned is 200% of the target shares originally granted. These awards have three one-year performance periods: 2023, 2024 and 2025, with the payout for each performance period based on separate financial measure goals that are set in February of each of the three performance periods. Earned shares during each performance period will cliff vest in February 2026 after approval of the financial results by the Compensation Committee, if not forfeited by the recipient. No dividends are paid on these performance shares.

On February 14, 2023, the Compensation Committee approved the actual performance achievement of one of the financial goals related to the 2021 retention-based grant. At the same meeting, the Compensation Committee approved a modification to accelerate the vesting for the goal earned, where half of these awards vested immediately upon approval of the results and the remaining half will vest in August 2023, if not forfeited by the recipient. We accounted for this change as a Type I

modification under ASC 718 as the expectation of vesting remained probable-to-probable post modification. The Company did not record any incremental stock compensation expense since the fair value of the modified awards immediately after the modification was not greater than the fair value of the original awards immediately before the modification. The Company will recognize the remaining stock compensation expense over the remaining portion of the modified service requisite period.

A summary of the status of all nonvested performance shares at target as of first quarter-end 2023 and changes during this period is presented as follows below (in thousands of shares except per share data).


	Financial Measure Performance Shares
	Shares	Weighted Average Grant Date Fair Value
Nonvested at year-end 2022	692	$	19.41
Granted	246	15.18
Vested	(108)	19.76
Forfeited	—	—

Nonvested at first quarter-end 2023	830	$	17.38

Restricted Stock

A summary of the status of nonvested restricted stock as of first quarter-end 2023 and changes during this period is presented as follows below (in thousands of shares except per share data).


	Shares	Weighted Average Grant Date Fair Value
Nonvested at year-end 2022	607	$	20.27
Granted	407	17.26
Vested	(140)	21.54
Forfeited	(15)	20.97
Nonvested at first quarter-end 2023	859	$	18.62

Sale of Assets	3 Months Ended
Sale of Assets	Apr. 02, 2023
Discontinued Operations and Disposal Groups [Abstract]
Sale of Assets	Sale of AssetsIn January 2022, the Company sold a property for a purchase price of $0.9 million, subject to final closing adjustments. The Company received cash proceeds of $0.9 million in the first quarter of 2022. As of the date of the sale, the property had an immaterial carrying value; as such, the resulting gain on the sale of the property was $0.9 million, which was recorded in gain on sale of assets in the consolidated statements of earnings.

Other Income (Expense), Net

3 Months Ended

Apr. 02, 2023

Other Income and Expenses [Abstract]

Other Income (Expense), Net

Included in other income (expense), net for the first quarter 2023 and 2022 are the following:


	First Quarter
	2023		2022
	(In millions of dollars)
Interest income	$	1.4	$	0.1
Interest expense	(0.8)		(0.6)

Foreign exchange gains (losses)	(0.7)		4.7
Other	2.1		(1.4)
Other income (expense), net	$	2.0	$	2.8

Included in Other for the first quarter of 2023 is a gain of $2.0 million for the receipt of final proceeds in connection with our investment in Business Talent Group, LLC that was sold in 2021. Included in foreign exchange gains (losses) for the first quarter of 2022 is a $5.5 million foreign exchange gain on a U.S. dollar-denominated cash balance held by the Company's Japan entity (see Investment in Persol Holdings footnote).

Income Taxes	3 Months Ended
Income Taxes	Apr. 02, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense was $1.8 million for the first quarter of 2023 and income tax benefit was $13.0 million for the first quarter of 2022. The quarterly amounts are impacted by changes in earnings from operations. The first quarter 2022 amounts were also impacted by changes in the fair value of the Company's investment in Persol Holdings, which resulted in a benefit of $18.4 million. Our tax expense is affected by recurring items, such as the amount of pretax income and its mix by jurisdiction, U.S. work opportunity credits and the change in cash surrender value of tax-exempt investments in life insurance policies. It is also affected by discrete items that may occur in any given period but are not consistent from period to period, such as tax law changes, changes in judgment regarding the realizability of deferred tax assets, the tax effects of stock compensation and, prior to February 2022, changes in the fair value of the Company's investment in Persol Holdings, which were treated as discrete since they could not be estimated. The Company provides valuation allowances against deferred tax assets when it is more likely than not that some portion or all of the deferred tax asset will not be realized. Sustained profitability of our German business makes release of its $5.7 million valuation allowance possible in the near term.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Segment Disclosures

3 Months Ended

Apr. 02, 2023

Segment Reporting [Abstract]

Segment Disclosures

The Company’s operating segments, which also represent its reporting segments, are based on the organizational structure for which financial results are regularly evaluated by the Company’s chief operating decision-maker ("CODM", the Company’s CEO) to determine resource allocation and assess performance. The Company’s five reportable segments, (1) Professional & Industrial, (2) Science, Engineering & Technology, (3) Education, (4) Outsourcing & Consulting, and (5) International, reflect the specialty services the Company provides to customers and represent how the business is organized internally. Intersegment revenue represents revenue earned between the reportable segments and is eliminated from total segment revenue from services.

The following tables present information about the reported revenue from services and gross profit of the Company by reportable segment, along with a reconciliation to earnings (loss) before taxes and equity in net earnings (loss) of affiliate, for the first quarter 2023 and 2022. Asset information by reportable segment is not presented, since the Company does not produce such information internally nor does it use such information to manage its business.


	First Quarter
	2023		2022
	(In millions of dollars)
Revenue from Services:

Professional & Industrial	$	389.8	$	444.3
Science, Engineering & Technology	306.4		317.1
Education	249.4		173.4
Outsourcing & Consulting	114.6		109.1
International	211.8		252.8

Less: Intersegment revenue	(3.7)		(0.3)

Consolidated Total	$	1,268.3	$	1,296.4


	First Quarter
	2023		2022
	(In millions of dollars)
Earnings (loss) from Operations:

Professional & Industrial gross profit	$	69.8	$	83.1
Professional & Industrial SG&A expenses	(67.5)		(71.4)
Professional & Industrial earnings (loss) from operations	2.3		11.7

Science, Engineering & Technology gross profit	71.3		73.8
Science, Engineering & Technology SG&A expenses	(52.8)		(53.2)
Science, Engineering & Technology earnings (loss) from operations	18.5		20.6

Education gross profit	39.3		26.6
Education SG&A expenses	(23.8)		(18.6)
Education earnings (loss) from operations	15.5		8.0

Outsourcing & Consulting gross profit	41.6		37.3
Outsourcing & Consulting SG&A expenses	(40.5)		(34.3)

Outsourcing & Consulting earnings (loss) from operations	1.1		3.0

International gross profit	32.1		37.8
International SG&A expenses	(32.4)		(33.2)
International earnings (loss) from operations	(0.3)		4.6

Corporate	(26.4)		(24.5)


Consolidated Total	10.7		23.4
Loss on investment in Persol Holdings	—		(67.2)
Loss on currency translation from liquidation of subsidiary	—		(20.4)
Other income (expense), net	2.0		2.8

Earnings (loss) before taxes and equity in net earnings (loss) of affiliate	$	12.7	$	(61.4)

Depreciation and amortization expense included in SG&A expenses by segment above are as follows:


	First Quarter
	2023		2022
	(In millions of dollars)
Depreciation and amortization:

Professional & Industrial	$	0.8	$	1.1
Science, Engineering & Technology	3.2		3.1
Education	1.5		0.8
Outsourcing & Consulting	1.0		0.2
International	0.4		0.5

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Revenue (Tables)

3 Months Ended

Apr. 02, 2023

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

The following table presents our segment revenues disaggregated by service type (in millions of dollars):


	First Quarter
	2023		2022
Professional & Industrial
Staffing services	$	271.5	$	334.9
Permanent placement	4.3		10.2
Outcome-based services	114.0		99.2
Total Professional & Industrial	389.8		444.3

Science, Engineering & Technology
Staffing services	202.3		220.6
Permanent placement	5.5		8.0
Outcome-based services	98.6		88.5
Total Science, Engineering & Technology	306.4		317.1

Education
Staffing services	247.6		171.9
Permanent placement	1.8		1.5
Total Education	249.4		173.4

Outsourcing & Consulting
Talent solutions	114.6		109.1
Total Outsourcing & Consulting	114.6		109.1

International
Staffing services	205.6		241.7
Permanent placement	5.9		6.9
Talent solutions	0.3		4.2
Total International	211.8		252.8

Total Intersegment	(3.7)		(0.3)

Total Revenue from Services	$	1,268.3	$	1,296.4

The below table presents our revenues disaggregated by geography (in millions of dollars):


	First Quarter
	2023		2022
Americas
United States	$	959.2	$	956.6
Canada	44.9		39.1
Puerto Rico	26.9		27.6
Mexico	16.7		10.3

Total Americas Region	1,047.7		1,033.6

Europe
Switzerland	52.9		55.0
France	47.8		54.6
Portugal	44.4		41.9
Italy	16.9		19.5

Russia	—		29.7



Other	47.7		51.3
Total Europe Region	209.7		252.0







Total Asia-Pacific Region	10.9		10.8

Total Kelly Services, Inc.	$	1,268.3	$	1,296.4

The below table presents our SET, OCG and International segment revenues disaggregated by geographic region (in millions of dollars):


	First Quarter
	2023		2022
Science, Engineering & Technology
Americas	$	302.1	$	313.8
Europe	4.3		3.3
Total Science, Engineering & Technology	$	306.4	$	317.1

Outsourcing & Consulting
Americas	$	94.1	$	92.3
Europe	9.6		6.0
Asia-Pacific	10.9		10.8
Total Outsourcing & Consulting	$	114.6	$	109.1

International
Americas	$	16.0	$	10.1
Europe	195.8		242.7
Total International	$	211.8	$	252.8

Credit Losses (Tables)

3 Months Ended

Apr. 02, 2023

Credit Loss [Abstract]

Accounts Receivable, Allowance for Credit Loss


	First Quarter
	2023		2022
Allowance for credit losses:
Beginning balance	$	7.7	$	9.4
Current period provision	0.8		0.4
Currency exchange effects	0.1		(0.1)
Write-offs	(0.8)		(1.2)
Ending balance	$	7.8	$	8.5

Acquisitions and Disposition (Tables)

3 Months Ended

Apr. 02, 2023

Business Combination and Asset Acquisition [Abstract]

Business Combination, Schedule of Purchase Price

The total consideration was as follows (in millions of dollars):


Cash consideration paid	$	85.7
Additional consideration payable	1.1
Total consideration	$	86.8

The total consideration was as follows (in millions of dollars):


Cash consideration paid	$	61.8
Additional consideration payable	1.1
Contingent consideration	0.6
Total consideration	$	63.5

Fair Value Measurements (Tables)

3 Months Ended

Apr. 02, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Assets Measured on Recurring Basis


	As of First Quarter-End 2023
Description	Total		Level 1		Level 2		Level 3
	(In millions of dollars)
Money market funds	$	54.1	$	54.1	$	—	$	—


Total assets at fair value	$	54.1	$	54.1	$	—	$	—

Brazil indemnification	$	(3.5)	$	—	$	—	$	(3.5)


Total liabilities at fair value	$	(3.5)	$	—	$	—	$	(3.5)


	As of Year-End 2022
Description	Total		Level 1		Level 2		Level 3
	(In millions of dollars)
Money market funds	$	108.3	$	108.3	$	—	$	—

Total assets at fair value	$	108.3	$	108.3	$	—	$	—

Brazil indemnification	$	(3.4)	$	—	$	—	$	(3.4)
Greenwood/Asher earnout	(3.3)		—		—		(3.3)

Total liabilities at fair value	$	(6.7)	$	—	$	—	$	(6.7)

Restructuring (Tables)

3 Months Ended

Apr. 02, 2023

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

Restructuring costs incurred in the first quarter of 2023 totaled $5.7 million and were recorded entirely in selling, general and administrative ("SG&A") expenses in the consolidated statements of earnings, as detailed below (in millions of dollars):


	Severance Costs		Lease Termination and Other Costs		Total

Professional & Industrial	$	2.7	$	0.3	$	3.0
Science, Engineering & Technology	0.4		0.1		0.5
Education	0.1		—		0.1
Outsourcing & Consulting	0.6		—		0.6
International	0.6		—		0.6
Corporate	0.2		0.7		0.9
Total	$	4.6	$	1.1	$	5.7

Restructuring costs incurred in the first quarter of 2022 totaled $1.7 million and were recorded entirely in SG&A expenses in the consolidated statements of earnings, as detailed below (in millions of dollars):


	Severance Costs		Lease Termination Costs		Total

Professional & Industrial	$	0.1	$	0.2	$	0.3

Education	0.4		—		0.4
Outsourcing & Consulting	0.2		—		0.2

Corporate	0.8		—		0.8
Total	$	1.5	$	0.2	$	1.7

Schedule of Restructuring Balance Sheet Accrual


Balance as of year-end 2022	$	0.3
Additions charged to Professional & Industrial	3.0
Additions charged to Science, Engineering & Technology	0.5
Additions charged to Outsourcing & Consulting	0.6
Additions charged to Education	0.1
Additions charged to International	0.6
Additions charged to Corporate	0.9

Reductions for cash payments related to all restructuring activities	(1.0)
Balance as of first quarter-end 2023	$	5.0

Accumulated Other Comprehensive Income (Loss) (Tables)

3 Months Ended

Apr. 02, 2023

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income by Component, Net of Tax

The changes in accumulated other comprehensive income (loss) by component, net of tax, for the first quarter 2023 and 2022 are included in the table below. Amounts in parentheses indicate debits.


	First Quarter
	2023		2022
	(In millions of dollars)
Foreign currency translation adjustments:
Beginning balance	$	(7.4)	$	(25.0)
Other comprehensive income (loss) before reclassifications	2.3		(9.9)
Amounts reclassified from accumulated other comprehensive income (loss) - liquidation of Japan subsidiary	—		20.4		(1)
Amounts reclassified from accumulated other comprehensive income (loss) - equity method investment and other	—		2.5		(2)
Net current-period other comprehensive income (loss)	2.3		13.0
Ending balance	(5.1)		(12.0)









Pension liability adjustments:
Beginning balance	(1.1)		(2.7)
Other comprehensive income (loss) before reclassifications	—		—
Amounts reclassified from accumulated other comprehensive income (loss)	—		—
Net current-period other comprehensive income (loss)	—		—
Ending balance	(1.1)		(2.7)

Total accumulated other comprehensive income (loss)	$	(6.2)	$	(14.7)

(1)Amount was recorded in the loss on currency translation from liquidation of subsidiary in the consolidated statements of earnings.

Earnings (Loss) Per Share (Tables)

3 Months Ended

Apr. 02, 2023

Earnings Per Share [Abstract]

Reconciliation of Basic and Diluted Earnings Per Share

The reconciliation of basic and diluted earnings (loss) per share on common stock for the first quarter 2023 and 2022 follows (in millions of dollars except per share data):


	First Quarter
	2023		2022
Net earnings (loss)	$	10.9	$	(47.6)
Less: earnings allocated to participating securities	(0.2)		—
Net earnings (loss) available to common shareholders	$	10.7	$	(47.6)

Average shares outstanding (millions):
Basic	37.1		38.6
Dilutive share awards	0.3		—
Diluted	37.4		38.6

Basic earnings (loss) per share	$	0.29	$	(1.23)
Diluted earnings (loss) per share	$	0.29	$	(1.23)

Stock-Based Compensation (Tables)

3 Months Ended

Apr. 02, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Nonvested Performance Shares and Restricted Stock


	Financial Measure Performance Shares
	Shares	Weighted Average Grant Date Fair Value
Nonvested at year-end 2022	692	$	19.41
Granted	246	15.18
Vested	(108)	19.76
Forfeited	—	—

Nonvested at first quarter-end 2023	830	$	17.38

A summary of the status of nonvested restricted stock as of first quarter-end 2023 and changes during this period is presented as follows below (in thousands of shares except per share data).


	Shares	Weighted Average Grant Date Fair Value
Nonvested at year-end 2022	607	$	20.27
Granted	407	17.26
Vested	(140)	21.54
Forfeited	(15)	20.97
Nonvested at first quarter-end 2023	859	$	18.62

Other Income (Expense), Net (Tables)

3 Months Ended

Apr. 02, 2023

Other Income and Expenses [Abstract]

Schedule of Other Income (Expense), Net

Included in other income (expense), net for the first quarter 2023 and 2022 are the following:


	First Quarter
	2023		2022
	(In millions of dollars)
Interest income	$	1.4	$	0.1
Interest expense	(0.8)		(0.6)

Foreign exchange gains (losses)	(0.7)		4.7
Other	2.1		(1.4)
Other income (expense), net	$	2.0	$	2.8

Segment Disclosures (Tables)

3 Months Ended

Apr. 02, 2023

Segment Reporting [Abstract]

Segment Revenue from Services


	First Quarter
	2023		2022
	(In millions of dollars)
Revenue from Services:

Professional & Industrial	$	389.8	$	444.3
Science, Engineering & Technology	306.4		317.1
Education	249.4		173.4
Outsourcing & Consulting	114.6		109.1
International	211.8		252.8

Less: Intersegment revenue	(3.7)		(0.3)

Consolidated Total	$	1,268.3	$	1,296.4

Segment Earnings From Operations


	First Quarter
	2023		2022
	(In millions of dollars)
Earnings (loss) from Operations:

Professional & Industrial gross profit	$	69.8	$	83.1
Professional & Industrial SG&A expenses	(67.5)		(71.4)
Professional & Industrial earnings (loss) from operations	2.3		11.7

Science, Engineering & Technology gross profit	71.3		73.8
Science, Engineering & Technology SG&A expenses	(52.8)		(53.2)
Science, Engineering & Technology earnings (loss) from operations	18.5		20.6

Education gross profit	39.3		26.6
Education SG&A expenses	(23.8)		(18.6)
Education earnings (loss) from operations	15.5		8.0

Outsourcing & Consulting gross profit	41.6		37.3
Outsourcing & Consulting SG&A expenses	(40.5)		(34.3)

Outsourcing & Consulting earnings (loss) from operations	1.1		3.0

International gross profit	32.1		37.8
International SG&A expenses	(32.4)		(33.2)
International earnings (loss) from operations	(0.3)		4.6

Corporate	(26.4)		(24.5)


Consolidated Total	10.7		23.4
Loss on investment in Persol Holdings	—		(67.2)
Loss on currency translation from liquidation of subsidiary	—		(20.4)
Other income (expense), net	2.0		2.8

Earnings (loss) before taxes and equity in net earnings (loss) of affiliate	$	12.7	$	(61.4)

Depreciation and Amortization by Segment

Depreciation and amortization expense included in SG&A expenses by segment above are as follows:


	First Quarter
	2023		2022
	(In millions of dollars)
Depreciation and amortization:

Professional & Industrial	$	0.8	$	1.1
Science, Engineering & Technology	3.2		3.1
Education	1.5		0.8
Outsourcing & Consulting	1.0		0.2
International	0.4		0.5

Revenue - Narrative (Details) $ in Millions	3 Months Ended
Revenue - Narrative (Details) $ in Millions	Apr. 02, 2023 USD ($) segment	Apr. 03, 2022 USD ($)	Jan. 01, 2023 USD ($)
Revenue from Contract with Customer [Line Items]
Number of operating segments \| segment	5
Deferred Fulfillment Costs
Revenue from Contract with Customer [Line Items]
Capitalized contract cost, net	$ 1.9		$ 2.7
Capitalized contract cost, amortization	$ 2.4	$ 1.9

Revenue - Disaggregation of Revenues by Service Type (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,268.3	$ 1,296.4
Professional & Industrial
Disaggregation of Revenue [Line Items]
Revenue	389.8	444.3
Science, Engineering & Technology
Disaggregation of Revenue [Line Items]
Revenue	306.4	317.1
Education
Disaggregation of Revenue [Line Items]
Revenue	249.4	173.4
Outsourcing & Consulting
Disaggregation of Revenue [Line Items]
Revenue	114.6	109.1
International
Disaggregation of Revenue [Line Items]
Revenue	211.8	252.8
Staffing services \| Professional & Industrial
Disaggregation of Revenue [Line Items]
Revenue	271.5	334.9
Staffing services \| Science, Engineering & Technology
Disaggregation of Revenue [Line Items]
Revenue	202.3	220.6
Staffing services \| Education
Disaggregation of Revenue [Line Items]
Revenue	247.6	171.9
Staffing services \| International
Disaggregation of Revenue [Line Items]
Revenue	205.6	241.7
Permanent placement \| Professional & Industrial
Disaggregation of Revenue [Line Items]
Revenue	4.3	10.2
Permanent placement \| Science, Engineering & Technology
Disaggregation of Revenue [Line Items]
Revenue	5.5	8.0
Permanent placement \| Education
Disaggregation of Revenue [Line Items]
Revenue	1.8	1.5
Permanent placement \| International
Disaggregation of Revenue [Line Items]
Revenue	5.9	6.9
Outcome-based services \| Professional & Industrial
Disaggregation of Revenue [Line Items]
Revenue	114.0	99.2
Outcome-based services \| Science, Engineering & Technology
Disaggregation of Revenue [Line Items]
Revenue	98.6	88.5
Talent solutions \| Outsourcing & Consulting
Disaggregation of Revenue [Line Items]
Revenue	114.6	109.1
Talent solutions \| International
Disaggregation of Revenue [Line Items]
Revenue	0.3	4.2
Total Intersegment
Disaggregation of Revenue [Line Items]
Revenue	$ (3.7)	$ (0.3)

Revenue - Revenue by Country (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,268.3	$ 1,296.4
United States
Disaggregation of Revenue [Line Items]
Revenue	959.2	956.6
Canada
Disaggregation of Revenue [Line Items]
Revenue	44.9	39.1
Puerto Rico
Disaggregation of Revenue [Line Items]
Revenue	26.9	27.6
Mexico
Disaggregation of Revenue [Line Items]
Revenue	16.7	10.3
Total Americas Region
Disaggregation of Revenue [Line Items]
Revenue	1,047.7	1,033.6
Switzerland
Disaggregation of Revenue [Line Items]
Revenue	52.9	55.0
France
Disaggregation of Revenue [Line Items]
Revenue	47.8	54.6
Portugal
Disaggregation of Revenue [Line Items]
Revenue	44.4	41.9
Italy
Disaggregation of Revenue [Line Items]
Revenue	16.9	19.5
Russia
Disaggregation of Revenue [Line Items]
Revenue	0.0	29.7
Other
Disaggregation of Revenue [Line Items]
Revenue	47.7	51.3
Total Europe Region
Disaggregation of Revenue [Line Items]
Revenue	209.7	252.0
Total Asia-Pacific Region
Disaggregation of Revenue [Line Items]
Revenue	$ 10.9	$ 10.8

Revenue - Disaggregation of Revenues by Geographic Region (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 1,268.3	$ 1,296.4
Americas
Disaggregation of Revenue [Line Items]
Revenue	1,047.7	1,033.6
Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	10.9	10.8
Science, Engineering & Technology
Disaggregation of Revenue [Line Items]
Revenue	306.4	317.1
Science, Engineering & Technology \| Americas
Disaggregation of Revenue [Line Items]
Revenue	302.1	313.8
Science, Engineering & Technology \| Europe
Disaggregation of Revenue [Line Items]
Revenue	4.3	3.3
Outsourcing & Consulting
Disaggregation of Revenue [Line Items]
Revenue	114.6	109.1
Outsourcing & Consulting \| Americas
Disaggregation of Revenue [Line Items]
Revenue	94.1	92.3
Outsourcing & Consulting \| Europe
Disaggregation of Revenue [Line Items]
Revenue	9.6	6.0
Outsourcing & Consulting \| Asia-Pacific
Disaggregation of Revenue [Line Items]
Revenue	10.9	10.8
International
Disaggregation of Revenue [Line Items]
Revenue	211.8	252.8
International \| Americas
Disaggregation of Revenue [Line Items]
Revenue	16.0	10.1
International \| Europe
Disaggregation of Revenue [Line Items]
Revenue	$ 195.8	$ 242.7

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Credit Losses - Allowance for Credit Losses Related to Trade Accounts Receivable (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Allowance for credit losses:
Beginning balance	$ 7.7	$ 9.4
Current period provision	0.8	0.4
Currency exchange effects	0.1	(0.1)
Write-offs	(0.8)	(1.2)
Ending balance	$ 7.8	$ 8.5

Acquisitions and Disposition - Narrative (Details) - USD ($) $ in Millions			3 Months Ended		12 Months Ended
	May 02, 2022	Mar. 07, 2022	Apr. 02, 2023	Oct. 02, 2022	Jan. 01, 2023
Pediatric Therapeutic Services
Business Acquisition [Line Items]
Ownership percentage acquired	100.00%
Purchase price of acquisition	$ 82.1
Purchase price paid at closing	85.7
Additional consideration payable	$ 1.1
Payment for contingent consideration liability, investing activities				$ 0.1
Pro forma information, revenue of acquiree since acquisition date, actual			$ 15.8
Pro forma information, earnings or loss of acquiree since acquisition date, actual			2.7
RocketPower
Business Acquisition [Line Items]
Ownership percentage acquired		100.00%
Purchase price of acquisition		$ 59.3
Purchase price paid at closing		61.8
Additional consideration payable		1.1
Contingent consideration		0.6
Contingent consideration, maximum		$ 31.8
Pro forma information, revenue of acquiree since acquisition date, actual			2.6
Pro forma information, earnings or loss of acquiree since acquisition date, actual			(2.6)
Business acquisition, goodwill, expected tax deductible amount			$ 27.5
Goodwill impairment charge					$ 41.0

Acquisitions and Disposition - Schedule of Purchase Price (Details) - USD ($) $ in Millions	May 02, 2022	Mar. 07, 2022
Pediatric Therapeutic Services
Business Acquisition [Line Items]
Cash consideration paid	$ 85.7
Additional consideration payable	1.1
Total consideration	$ 86.8
RocketPower
Business Acquisition [Line Items]
Cash consideration paid		$ 61.8
Additional consideration payable		1.1
Contingent consideration		0.6
Total consideration		$ 63.5

Investment in Persol Holdings - Narrative (Details) - USD ($) $ in Millions			2 Months Ended	3 Months Ended
	Feb. 15, 2022	Feb. 14, 2022	Feb. 15, 2022	Apr. 02, 2023	Apr. 03, 2022
Schedule of Equity Method Investments [Line Items]
Stock repurchased during period, amount in excess of par value		$ 25.6
Proceeds from sale of Persol Holdings investment				$ 0.0	$ 196.9
Loss on investment in Persol Holdings				0.0	(67.2)
Equity securities gain (loss)			$ (52.4)
Loss on currency translation from liquidation of subsidiary				0.0	(20.4)
Foreign currency transaction gain				$ 0.0	5.5
Persol Holdings Investment
Schedule of Equity Method Investments [Line Items]
Stock repurchased during period, value		$ 27.2
Proceeds from sale of Persol Holdings investment	$ 196.9
Loss on investment in Persol Holdings					(67.2)
Equity securities gain (loss)	$ (14.8)
Persol Holdings Investment \| Class A Common Stock
Schedule of Equity Method Investments [Line Items]
Stock repurchased during period, shares		1,576,169
Persol Holdings Investment \| Class B Common Stock
Schedule of Equity Method Investments [Line Items]
Stock repurchased during period, shares		1,475
Kelly Services Japan, Inc.
Schedule of Equity Method Investments [Line Items]
Loss on currency translation from liquidation of subsidiary					20.4
Foreign currency transaction gain					$ 5.5

Investment in PersolKelly Pte Ltd. (Details) $ in Millions		3 Months Ended
Investment in PersolKelly Pte Ltd. (Details) $ in Millions	Mar. 01, 2022 USD ($)	Apr. 02, 2023 USD ($)	Apr. 03, 2022 USD ($)	Feb. 14, 2022 geography
Schedule of Equity Method Investments [Line Items]
Number of geographies in which entity operates \| geography				10
Proceeds from sale of equity method investment		$ 0.0	$ 119.5
Amounts reclassified from accumulated other comprehensive income (loss)	$ (1.9)
Equity in net earnings (loss) of affiliate		0.0	$ 0.8
Equity securities without readily determinable fair value, with changes in fair value in net income		$ 6.4
PersolKelly Pte. Ltd.
Schedule of Equity Method Investments [Line Items]
Equity method investment, ownership percentage		2.50%		49.00%
Equity method investment, amount sold, percentage				95.00%
Proceeds from sale of equity method investment	119.5
Equity method investment, amount sold	117.6
Gain on disposal	$ 1.9
Equity securities without readily determinable fair value, with changes in fair value in net income		$ 6.4

Fair Value Measurements - Schedule of Assets Measured at Fair Value on a Recurring Basis (Details) - Measured on Recurring Basis - USD ($) $ in Millions	Apr. 02, 2023	Jan. 01, 2023
Assets, Fair Value Disclosure [Abstract]
Money market funds	$ 54.1	$ 108.3
Total assets at fair value	54.1	108.3
Liabilities, Fair Value Disclosure [Abstract]
Brazil indemnification	(3.5)	(3.4)
Total liabilities at fair value	(3.5)	(6.7)
Greenwood/Asher
Liabilities, Fair Value Disclosure [Abstract]
Earnout, fair value		(3.3)
Level 1
Assets, Fair Value Disclosure [Abstract]
Money market funds	54.1	108.3
Total assets at fair value	54.1	108.3
Liabilities, Fair Value Disclosure [Abstract]
Brazil indemnification	0.0	0.0
Total liabilities at fair value	0.0	0.0
Level 1 \| Greenwood/Asher
Liabilities, Fair Value Disclosure [Abstract]
Earnout, fair value		0.0
Level 2
Assets, Fair Value Disclosure [Abstract]
Money market funds	0.0	0.0
Total assets at fair value	0.0	0.0
Liabilities, Fair Value Disclosure [Abstract]
Brazil indemnification	0.0	0.0
Total liabilities at fair value	0.0	0.0
Level 2 \| Greenwood/Asher
Liabilities, Fair Value Disclosure [Abstract]
Earnout, fair value		0.0
Level 3
Assets, Fair Value Disclosure [Abstract]
Money market funds	0.0	0.0
Total assets at fair value	0.0	0.0
Liabilities, Fair Value Disclosure [Abstract]
Brazil indemnification	(3.5)	(3.4)
Total liabilities at fair value	$ (3.5)	(6.7)
Level 3 \| Greenwood/Asher
Liabilities, Fair Value Disclosure [Abstract]
Earnout, fair value		$ (3.3)

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022	Jan. 01, 2023	Oct. 02, 2022	Mar. 07, 2022	Feb. 14, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment for contingent consideration liability, financing activities	$ 1.4	$ 0.7
Equity securities without readily determinable fair value, with changes in fair value in net income	6.4
Brazil
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification liabilities, expense (income)	0.1	0.5
Brazil \| Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification liability	8.8
Greenwood/Asher
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Payment for contingent consideration liability, financing activities	$ 1.4	0.7
RocketPower
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration					$ 0.6
Contingent consideration, maximum					$ 31.8
PersolKelly Pte. Ltd.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investment, ownership percentage	2.50%					49.00%
Equity securities without readily determinable fair value, with changes in fair value in net income	$ 6.4
Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	8.8		$ 8.6
Level 3 \| Brazil
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification liability	3.5		3.4
Level 3 \| Greenwood/Asher
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0.0
Payment for contingent consideration liability	3.3	2.3
Level 3 \| RocketPower
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0.0	0.6		$ 0.0
Level 3 \| Accounts Payable and Accrued Liabilities \| Brazil
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification liability	0.3		0.3
Level 3 \| Accounts Payable and Accrued Liabilities \| Greenwood/Asher
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration			3.3
Level 3 \| Accounts Payable and Accrued Liabilities \| RocketPower
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		0.5
Level 3 \| Other Long Term Liabilities \| Brazil
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Indemnification liability	3.2		$ 3.1
Level 3 \| Other Long Term Liabilities \| RocketPower
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration		$ 0.1
Contingent consideration, maximum	$ 12.9

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
Restructuring - Narrative (Details) - USD ($) $ in Millions	Apr. 02, 2023	Apr. 03, 2022	Jan. 01, 2023
Restructuring and Related Activities [Abstract]
Restructuring costs	$ 5.7	$ 1.7
Restructuring accrual	$ 5.0		$ 0.3

Restructuring - Schedule of Restructuring and Related Costs (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Restructuring Cost and Reserve [Line Items]
Severance Costs	$ 4.6	$ 1.5
Lease Termination and Other Costs	1.1	0.2
Total	5.7	1.7
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Severance Costs	0.2	0.8
Lease Termination and Other Costs	0.7	0.0
Total	0.9	0.8
Professional & Industrial
Restructuring Cost and Reserve [Line Items]
Severance Costs	2.7	0.1
Lease Termination and Other Costs	0.3	0.2
Total	3.0	0.3
Science, Engineering & Technology
Restructuring Cost and Reserve [Line Items]
Severance Costs	0.4
Lease Termination and Other Costs	0.1
Total	0.5
Education
Restructuring Cost and Reserve [Line Items]
Severance Costs	0.1	0.4
Lease Termination and Other Costs	0.0	0.0
Total	0.1	0.4
Outsourcing & Consulting
Restructuring Cost and Reserve [Line Items]
Severance Costs	0.6	0.2
Lease Termination and Other Costs	0.0	0.0
Total	0.6	$ 0.2
International
Restructuring Cost and Reserve [Line Items]
Severance Costs	0.6
Lease Termination and Other Costs	0.0
Total	$ 0.6

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Restructuring Reserve [Roll Forward]
Beginning balance	$ 0.3
Additions charged	5.7	$ 1.7
Reductions for cash payments related to all restructuring activities	(1.0)
Ending balance	5.0
Corporate, Non-Segment
Restructuring Reserve [Roll Forward]
Additions charged	0.9	0.8
Professional & Industrial
Restructuring Reserve [Roll Forward]
Additions charged	3.0	0.3
Outsourcing & Consulting
Restructuring Reserve [Roll Forward]
Additions charged	0.6	0.2
Education
Restructuring Reserve [Roll Forward]
Additions charged	0.1	$ 0.4
Science, Engineering & Technology
Restructuring Reserve [Roll Forward]
Additions charged	0.5
International
Restructuring Reserve [Roll Forward]
Additions charged	$ 0.6

Accumulated Other Comprehensive Income (Loss) - Schedule of Accumulated Other Comprehensive Income (Loss) by Component, Net of Tax (Details) - USD ($) $ in Millions		3 Months Ended
	Mar. 01, 2022	Apr. 02, 2023	Apr. 03, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		$ 1,254.2
Amounts reclassified from accumulated other comprehensive income (loss)	$ 1.9
Other comprehensive income (loss)		2.3	$ 13.0
Ending balance		1,247.8	1,273.5
Other income (expense), net		2.0	2.8
PersolKelly Pte. Ltd.
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Other income (expense), net			1.9
Foreign currency translation adjustments:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(7.4)	(25.0)
Other comprehensive income (loss) before reclassifications		2.3	(9.9)
Other comprehensive income (loss)		2.3	13.0
Ending balance		(5.1)	(12.0)
Foreign currency translation adjustments: \| Liquidation of Subsidiary
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive income (loss)		0.0	20.4
Foreign currency translation adjustments: \| Equity Method Investment and Other
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Amounts reclassified from accumulated other comprehensive income (loss)		0.0	2.5
Pension liability adjustments:
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(1.1)	(2.7)
Other comprehensive income (loss) before reclassifications		0.0	0.0
Amounts reclassified from accumulated other comprehensive income (loss)		0.0	0.0
Other comprehensive income (loss)		0.0	0.0
Ending balance		(1.1)	(2.7)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance		(8.5)	(27.7)
Other comprehensive income (loss)		2.3	13.0
Ending balance		$ (6.2)	$ (14.7)

Earnings (Loss) Per Share - Reconciliation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Earnings Per Share [Abstract]
Net earnings (loss)	$ 10.9	$ (47.6)
Less: earnings allocated to participating securities	(0.2)	0.0
Net earnings (loss) available to common shareholders	$ 10.7	$ (47.6)
Average shares outstanding (millions):
Basic (in shares)	37.1	38.6
Dilutive share awards (in shares)	0.3	0.0
Diluted (in shares)	37.4	38.6
Basic earnings (loss) per share on common stock (in dollars per share)	$ 0.29	$ (1.23)
Diluted earnings (loss) per share on common stock (in dollars per share)	$ 0.29	$ (1.23)

Earnings (Loss) Per Share - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022	Nov. 09, 2022
Dividends Payable [Line Items]
Antidilutive securities excluded from computation of earnings per share, shares		200,000
Buyback of common shares	$ 18.3	$ 27.2
Class A Common Stock
Dividends Payable [Line Items]
Dividends per share (in dollars per share)	$ 0.075	$ 0.050
Stock repurchase program, authorized amount			$ 50.0
Shares repurchased (in shares)	1,099,728
Buyback of common shares	$ 18.3
Remaining authorized repurchase amount	$ 23.9
Class B Common Stock
Dividends Payable [Line Items]
Dividends per share (in dollars per share)	$ 0.075	$ 0.050

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense (benefit)	$ 3.1	$ 2.1
Related tax benefit (expense)	$ 0.3	$ 0.3
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares that can be earned, percentage	200.00%

Stock-Based Compensation - Schedule of Nonvested Performance Shares (Details)
shares in Thousands

3 Months Ended

Apr. 02, 2023

$ / shares

Weighted Average Grant Date Fair Value

Schedule of Nonvested Performance Shares and Restricted Stock


	Financial Measure Performance Shares
	Shares	Weighted Average Grant Date Fair Value
Nonvested at year-end 2022	692	$	19.41
Granted	246	15.18
Vested	(108)	19.76
Forfeited	—	—

Nonvested at first quarter-end 2023	830	$	17.38

A summary of the status of nonvested restricted stock as of first quarter-end 2023 and changes during this period is presented as follows below (in thousands of shares except per share data).


	Shares	Weighted Average Grant Date Fair Value
Nonvested at year-end 2022	607	$	20.27
Granted	407	17.26
Vested	(140)	21.54
Forfeited	(15)	20.97
Nonvested at first quarter-end 2023	859	$	18.62

Financial Measure Performance Shares

Shares

Nonvested, beginning balance (in shares) | shares

692

Granted (in shares) | shares

246

Vested (in shares) | shares

(108)

Forfeited (in shares) | shares

Nonvested, ending balance (in shares) | shares

830

Weighted Average Grant Date Fair Value

Nonvested, beginning balance (in dollars per share) | $ / shares

$ 19.41

Granted (in dollars per share) | $ / shares

15.18

Vested (in dollars per share) | $ / shares

19.76

Forfeited (in dollars per share) | $ / shares

Nonvested, ending balance (in dollars per share) | $ / shares

$ 17.38

Stock-Based Compensation - Schedule of Nonvested Restricted Stock (Details) - Restricted Stock shares in Thousands	3 Months Ended
	Apr. 02, 2023 $ / shares shares
Shares
Nonvested, beginning balance (in shares) \| shares	607
Granted (in shares) \| shares	407
Vested (in shares) \| shares	(140)
Forfeited (in shares) \| shares	(15)
Nonvested, ending balance (in shares) \| shares	859
Weighted Average Grant Date Fair Value
Nonvested, beginning balance (in dollars per share) \| $ / shares	$ 20.27
Granted (in dollars per share) \| $ / shares	17.26
Vested (in dollars per share) \| $ / shares	21.54
Forfeited (in dollars per share) \| $ / shares	20.97
Nonvested, ending balance (in dollars per share) \| $ / shares	$ 18.62

Sale of Assets - Narrative (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Jan. 31, 2022	Apr. 03, 2022
Discontinued Operations and Disposal Groups [Abstract]
Purchase price for real property	$ 0.9
Net proceeds from sale of property held-for-sale		$ 0.9
Gain on sale on properties		$ 0.9

Other Income (Expense), Net - Schedule of Other Nonoperating Income (Expense) (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Other Income and Expenses [Abstract]
Interest income	$ 1.4	$ 0.1
Interest expense	(0.8)	(0.6)
Foreign exchange gains (losses)	(0.7)	4.7
Other income	2.1
Other expense		(1.4)
Other income (expense), net	$ 2.0	$ 2.8

Other Income (Expense), Net - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Other Income (Expense) [Line Items]
Foreign currency transaction gain	$ 0.0	$ 5.5
Business Talent Group, LLC
Other Income (Expense) [Line Items]
Increase to indemnification liability	$ 2.0
Kelly Services Japan, Inc.
Other Income (Expense) [Line Items]
Foreign currency transaction gain		$ 5.5

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended
Income Taxes (Details) - USD ($) $ in Millions	Apr. 02, 2023	Apr. 03, 2022
Income Taxes [Line Items]
Income tax expense (benefit)	$ 1.8	$ (13.0)
Persol Holdings Investment
Income Taxes [Line Items]
Income tax expense (benefit)		$ (18.4)
Germany \| Foreign Tax Authority
Income Taxes [Line Items]
Valuation allowance	$ 5.7

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Contingencies - Narrative (Details) - USD ($) $ in Millions	Apr. 02, 2023	Jan. 01, 2023
Loss Contingencies [Line Items]
Accrual for litigation costs	$ 4.7	$ 2.3
Loss contingency, receivable	0.6	$ 0.6
Minimum
Loss Contingencies [Line Items]
Loss contingency, portion not accrued	0.1
Maximum
Loss Contingencies [Line Items]
Loss contingency, portion not accrued	$ 2.8

Segment Disclosures - Narrative (Details)	3 Months Ended
Segment Disclosures - Narrative (Details)	Apr. 02, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	5

Segment Disclosures - Segment Revenue From Service (Details) - Service - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Revenue from Services
Segment revenue from services	$ 1,268.3	$ 1,296.4
Less: Intersegment revenue
Revenue from Services
Segment revenue from services	(3.7)	(0.3)
Professional & Industrial \| Reporting Segments
Revenue from Services
Segment revenue from services	389.8	444.3
Science, Engineering & Technology \| Reporting Segments
Revenue from Services
Segment revenue from services	306.4	317.1
Education \| Reporting Segments
Revenue from Services
Segment revenue from services	249.4	173.4
Outsourcing & Consulting \| Reporting Segments
Revenue from Services
Segment revenue from services	114.6	109.1
International \| Reporting Segments
Revenue from Services
Segment revenue from services	$ 211.8	$ 252.8

Segment Disclosures - Segment Earnings (loss) From Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Earnings (loss) from Operations
Gross profit	$ 254.1	$ 258.6
SG&A expenses	(243.4)	(236.1)
Earnings (loss) from operations	10.7	23.4
Loss on investment in Persol Holdings	0.0	(67.2)
Loss on currency translation from liquidation of subsidiary	0.0	(20.4)
Other income (expense), net	2.0	2.8
Earnings (loss) before taxes and equity in net earnings (loss) of affiliate	12.7	(61.4)
Corporate
Earnings (loss) from Operations
Earnings (loss) from operations	(26.4)	(24.5)
Professional & Industrial \| Reporting Segments
Earnings (loss) from Operations
Gross profit	69.8	83.1
SG&A expenses	(67.5)	(71.4)
Earnings (loss) from operations	2.3	11.7
Science, Engineering & Technology \| Reporting Segments
Earnings (loss) from Operations
Gross profit	71.3	73.8
SG&A expenses	(52.8)	(53.2)
Earnings (loss) from operations	18.5	20.6
Education \| Reporting Segments
Earnings (loss) from Operations
Gross profit	39.3	26.6
SG&A expenses	(23.8)	(18.6)
Earnings (loss) from operations	15.5	8.0
Outsourcing & Consulting \| Reporting Segments
Earnings (loss) from Operations
Gross profit	41.6	37.3
SG&A expenses	(40.5)	(34.3)
Earnings (loss) from operations	1.1	3.0
International \| Reporting Segments
Earnings (loss) from Operations
Gross profit	32.1	37.8
SG&A expenses	(32.4)	(33.2)
Earnings (loss) from operations	$ (0.3)	$ 4.6

Segment Disclosures - Depreciation and Amortization Expense Included in SG&A Expenses (Details) - USD ($) $ in Millions	3 Months Ended
	Apr. 02, 2023	Apr. 03, 2022
Earnings (loss) from Operations
Depreciation and amortization	$ 8.4	$ 7.5
Professional & Industrial
Earnings (loss) from Operations
Depreciation and amortization	0.8	1.1
Science, Engineering & Technology
Earnings (loss) from Operations
Depreciation and amortization	3.2	3.1
Education
Earnings (loss) from Operations
Depreciation and amortization	1.5	0.8
Outsourcing & Consulting
Earnings (loss) from Operations
Depreciation and amortization	1.0	0.2
International
Earnings (loss) from Operations
Depreciation and amortization	$ 0.4	$ 0.5