ASGN (ASGN) 10-Q1 May 242024 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares shares in Millions	3 Months Ended
Document and Entity Information - shares shares in Millions	Mar. 31, 2024	Apr. 30, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	001-35636
Entity Registrant Name	ASGN Inc
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-4023433
Entity Address, Address Description	4400 Cox Road, Suite 110
Entity Address, City or Town	Glen Allen
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	23060
City Area Code	888
Local Phone Number	482-8068
Title of 12(b) Security	Common Stock
Trading Symbol	ASGN
Security Exchange Name	NYSE
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
Entity Common Stock, Shares Outstanding (in shares)		45.9
Entity Central Index Key	0000890564
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false
Document Period End Date	Mar. 31, 2024

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 158.4	$ 175.9
Accounts receivable, net	725.3	741.5
Prepaid expenses and income taxes	30.6	36.8
Other current assets	19.1	19.1
Total current assets	933.4	973.3
Property and equipment, net	82.9	81.4
Operating lease right-of-use assets	63.3	64.2
Identifiable intangible assets, net	482.8	497.9
Goodwill	1,894.1	1,894.1
Other non-current assets	32.3	33.7
Total assets	3,488.8	3,544.6
Current liabilities:
Accounts payable	25.9	34
Accrued payroll	232.7	236.5
Operating lease liabilities	20.5	19.5
Other current liabilities	92.6	104.1
Total current liabilities	371.7	394.1
Long-term debt	1,036.3	1,036.6
Operating lease liabilities	46.8	49.1
Deferred income tax liabilities	156	156
Other long-term liabilities	16.6	16.7
Total liabilities	1,627.4	1,652.5
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred Stock, Value, Issued	0	0
Common Stock, Value, Issued	0.5	0.5
Paid-in capital	695.7	696
Retained earnings	1,165.4	1,195.6
Accumulated other comprehensive loss	(0.2)	0
Total stockholders’ equity	1,861.4	1,892.1
Total liabilities and stockholders’ equity	$ 3,488.8	$ 3,544.6

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares shares in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized (in shares)	1,000	1,000
Preferred Stock, shares issued (in shares)	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	75,000	75,000
Common stock, shares outstanding (in shares)	46,200

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues	$ 1,049	$ 1,128.8
Cost of services	752.8	802.4
Gross profit	296.2	326.4
Selling, general and administrative expenses	210.2	224.1
Amortization of intangible assets	15.1	18.1
Operating income	70.9	84.2
Interest expense	(17.6)	(15.4)
Income before Income Taxes	53.3	68.8
Provision for income taxes	15.2	19.3
Net income	$ 38.1	$ 49.5
Basic
Basic earnings per share	$ 0.82	$ 1
Diluted
Diluted earnings per share	$ 0.81	$ 0.99
Number of shares and share equivalents used to calculate earnings per share:
Weighted-average number of common shares outstanding - basic	46.5	49.3
Diluted	46.9	49.8
Reconciliation of net income to comprehensive income:
Net income	$ 38.1	$ 49.5
Foreign currency translation adjustment	(0.2)	1
Comprehensive income	$ 37.9	$ 50.5

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDER'S EQUITY - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Paid-in Capital	Retained Earnings	Other
Shares Outstanding at Dec. 31, 2022		49.5
Total stockholders’ equity at Dec. 31, 2022	$ 1,901.3	$ 0.5	$ 703.5	$ 1,200	$ (2.7)
Stock-based compensation expense	12.1		12.1
Employee stock purchase plan, shares		0.2
Employee stock purchase plan, value	11.1		11.1
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(4.2)		(4.2)
Vesting of restricted stock units, shares		0
Stock Repurchased and Retired During Period, Shares		(0.5)
Stock Repurchased and Retired During Period, Value	(47.3)		(8.1)	(39.2)
Foreign currency translation adjustments	1				1
Net income	49.5			49.5
Shares Outstanding at Mar. 31, 2023		49.2
Total stockholders’ equity at Mar. 31, 2023	1,923.5	$ 0.5	714.4	1,210.3	(1.7)
Shares Outstanding at Dec. 31, 2023		46.7
Total stockholders’ equity at Dec. 31, 2023	1,892.1	$ 0.5	696	1,195.6	0
Stock-based compensation expense	11.7		11.7
Employee stock purchase plan, shares		0.3
Employee stock purchase plan, value	9.5		9.5
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation	(8.5)		(8.5)
Vesting of restricted stock units, shares		0
Stock Repurchased and Retired During Period, Shares		(0.8)
Stock Repurchased and Retired During Period, Value	(81.3)		(13)	(68.3)
Foreign currency translation adjustments	(0.2)				(0.2)
Net income	38.1			38.1
Shares Outstanding at Mar. 31, 2024		46.2
Total stockholders’ equity at Mar. 31, 2024	$ 1,861.4	$ 0.5	$ 695.7	$ 1,165.4	$ (0.2)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows from Operating Activities
Net income	$ 38.1	$ 49.5
Adjustments to reconcile net income to net cash provided by operating activities:
Amortization and depreciation	24.5	24.9
Stock-based compensation	11.7	12.1
Other	3.1	1.5
Changes in operating assets and liabilities:
Accounts receivable	15.2	31
Prepaid expenses and income taxes	6	16.5
Accounts payable	(6.8)	(1.2)
Accrued payroll	(4)	(33.8)
Other	(14.5)	(20)
Net cash provided by operating activities	73.3	80.5
Cash Flows from Investing Activities
Cash paid for property and equipment	(10.8)	(11.7)
Other	0	(0.6)
Net cash used in investing activities	(10.8)	(12.3)
Cash Flows from Financing Activities
Proceeds from long-term debt	0	36
Principal payments of long-term debt	(1.3)	(67.5)
Proceeds from employee stock purchase plan	9.5	11.1
Repurchase of common stock	(79.7)	(48.8)
Payment of employment taxes related to release of restricted stock awards	(8.5)	(4.2)
Net cash used in financing activities	(80)	(73.4)
Effect of exchange rate changes on cash and cash equivalents	0	(0.1)
Net Decrease in Cash and Cash Equivalents	(17.5)	(5.3)
Cash and Cash Equivalents at Beginning of Year	175.9	70.3
Cash and Cash Equivalents at End of Period	158.4	65
Supplemental Disclosure of Cash Flow Information
Income taxes	1.5	2
Interest	9.8	8.6
Operating leases	6.3	6.6
Noncash transactions —
Operating lease right of use assets obtained in exchange for operating lease liabilities	$ 4.1	$ 7.7

General (Notes)

General (Notes)	3 Months Ended
General (Notes)	Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Financial Statement Presentation	General Basis of Presentation

Goodwill and Identifiable Asset

Goodwill and Identifiable Assets (Notes)	3 Months Ended
Goodwill and Identifiable Assets (Notes)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Identifiable Intangible Assets	Goodwill and Identifiable Intangible Assets Goodwill by reportable segment is as follows (in millions): Commercial Federal Government Total Balance at March 31, 2024 and December 31, 2023 $ 1,075.8 $ 818.3 $ 1,894.1 Acquired identifiable intangible assets consisted of the following (in millions): March 31, 2024 December 31, 2023 Estimated Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Subject to amortization: Customer and contractual relationships 7 - 13 $ 496.0 $ 296.0 $ 200.0 $ 496.0 $ 282.0 $ 214.0 Non-compete agreements 2 - 7 29.3 19.3 10.0 29.3 18.2 11.1 525.3 315.3 210.0 525.3 300.2 225.1 Not subject to amortization: Trademarks 272.8 — 272.8 272.8 — 272.8 $ 798.1 $ 315.3 $ 482.8 $ 798.1 $ 300.2 $ 497.9 Estimated future amortization expense is as follows (in millions): Remainder of 2024 $ 43.0 2025 48.8 2026 41.8 2027 32.0 2028 21.2 Thereafter 23.2 $ 210.0

Long-Term Debt (Notes)

Long-Term Debt (Notes)	3 Months Ended
Long-Term Debt (Notes)	Mar. 31, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-term debt consisted of the following (in millions): March 31, December 31, Senior Secured Credit Facility: $500 million revolving credit facility, due 2028 $ — $ — Term loan B, due 2030 497.5 498.8 Unsecured Senior Notes, due 2028 550.0 550.0 1,047.5 1,048.8 Unamortized deferred loan costs (6.2) (7.2) Term loan B, principal payments due in the next 12 months (5.0) (5.0) Long-term debt $ 1,036.3 $ 1,036.6 __________ The Company is required to make quarterly minimum principal payments totaling $5.0 million annually on the term loan until its maturity date; this amount is included in other current liabilities on the accompanying condensed consolidated balance sheets. Taking into consideration the $5.0 million annual required principal payments, the balance due at maturity will be $466.3 million. Senior Secured Credit Facility — In March 2024, the Company amended its senior secured credit facility (the "facility") with a 50-basis point reduction in the term loan B ("term loan") interest rate. As a result, borrowings under the $497.5 million term loan bear interest, at the Company's election, at (i) the secured overnight financing rate ("SOFR") plus 1.75 percent, or (ii) the bank’s base rate plus 1.00 percent. Related to the debt amendment there were $0.9 million of costs. The Company accounted for the debt amendment as a modification and, accordingly, these costs were expensed as incurred. There was an insignificant amount of previously capitalized costs that were written off. Borrowings under the $500.0 million revolving credit facility (the "revolver") bear interest, at the Company's election, at (i) SOFR plus a 10 basis points adjustment plus 2.00 to 3.00 percent, or (ii) the bank’s base rate plus 1.00 to 2.00 percent, depending on leverage levels. A commitment fee of 0.30 to 0.45 percent is payable on the undrawn portion of the revolver. The facility is subject to various restrictive covenants including, when amounts are drawn under the revolver, a maximum ratio of senior secured debt to trailing-twelve-months of lender-defined consolidated EBITDA of 3.75 to 1, which was 0.99 to 1 at March 31, 2024. The facility is secured by substantially all of the Company's assets and at March 31, 2024, the Company was in compliance with its debt covenants. Unsecured Senior Notes

Commitments and Contingencies (

Commitments and Contingencies (Notes)	3 Months Ended
Commitments and Contingencies (Notes)	Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies

Income Taxes (Notes)

Income Taxes (Notes)	3 Months Ended
Income Taxes (Notes)	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim reporting periods, the Company’s provision for income taxes is calculated using its annualized estimated effective tax rate for the year. This rate is based on its estimated full year income and the related income tax expense for each jurisdiction in which the Company operates. The effective tax rate can be affected by changes in the geographical mix, permanent differences, and the estimate of full year pretax accounting income. This rate is adjusted for the effects of discrete items occurring in the period.

Earnings Per Share (Notes)

Earnings Per Share (Notes)	3 Months Ended
Earnings Per Share (Notes)	Mar. 31, 2024
Earnings Per Share [Abstract]
Earnings per share	Earnings per Share The following is a reconciliation of the number of shares and share equivalents used to calculate basic and diluted earnings per share (in millions, except per share data). Three Months Ended March 31, 2024 2023 Net income $ 38.1 $ 49.5 Weighted-average number of common shares outstanding - basic 46.5 49.3 Dilutive effect of common share equivalents 0.4 0.5 Weighted-average number of common shares and share equivalents outstanding - diluted 46.9 49.8 Basic earnings per share $ 0.82 $ 1.00 Diluted earnings per share $ 0.81 $ 0.99

Segment Reporting (Notes)

Segment Reporting (Notes)	3 Months Ended
Segment Reporting (Notes)	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Reporting Disclosure	Segment Reporting ASGN provides information technology ("IT") services and professional solutions across the commercial and government sectors. ASGN operates through two segments, Commercial and Federal Government. The Commercial Segment, which is the largest segment, provides consulting, creative digital marketing, and permanent placement services primarily to large mid-market and Fortune 1000 companies. The Federal Government Segment provides mission-critical solutions to the Department of Defense, the intelligence community, and federal civilian agencies. Virtually all of the Company's revenues are generated in the United States. Management evaluates the performance of each segment primarily based on revenues, gross profit, and operating income derived directly from internal financial reporting of the segments used for corporate management purposes, which is presented below by segment (in millions): Three Months Ended March 31, 2024 2023 Commercial Revenues $ 731.5 $ 832.1 Gross profit 233.8 262.4 Operating income 68.8 83.9 Depreciation and other amortization 7.2 4.6 Amortization of intangible assets 7.7 8.8 Federal Government Revenues $ 317.5 $ 296.7 Gross profit 62.4 64.0 Operating income 23.0 22.6 Depreciation and other amortization 1.7 1.4 Amortization of intangible assets 7.4 9.3 Consolidated Revenues $ 1,049.0 $ 1,128.8 Gross profit 296.2 326.4 Operating income 70.9 84.2 Depreciation and other amortization 9.4 6.8 Amortization of intangible assets 15.1 18.1 _______ Depreciation and other amortization includes $1.3 million amortization related to capitalized cloud-based application implementation costs in the three months ended March 31, 2024. Consolidated operating income includes corporate operating expenses, which are not allocated to the segments. These include stock-based compensation expense, depreciation expense, compensation for corporate employees, acquisition, integration, and strategic planning expenses, and public company expenses. Virtually all of the revenues from the Commercial Segment are generated from time-and-materials ("T&M") contracts where payments are based on fixed hourly rates for each direct labor hour expended and reimbursements for allowable material costs and out-of-pocket expenses. Revenues from the Federal Government Segment are generated from: (i) firm-fixed-price, (ii) T&M, and (iii) cost reimbursable contracts. Revenues by segment and by type are as follows (in millions): Three Months Ended March 31, 2024 2023 Commercial Assignment $ 454.5 $ 560.4 Consulting 277.0 271.7 731.5 832.1 Federal Government Firm-fixed-price 89.2 92.8 Time and materials 131.2 121.9 Cost reimbursable 97.1 82.0 317.5 296.7 Consolidated $ 1,049.0 $ 1,128.8 Federal Government Segment revenues by customer type are as follows (in millions): Three Months Ended March 31, 2024 2023 Department of Defense and Intelligence Agencies $ 150.1 $ 132.9 Federal Civilian 157.8 153.1 Other 9.6 10.7 $ 317.5 $ 296.7

Fair Value Measurements (Note)

Fair Value Measurements (Note)	3 Months Ended
Fair Value Measurements (Note)	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Fair Value Measurements Recurring Fair Value Measurements — The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable, and accrued payroll approximate their fair value based on their short-term nature. Nonrecurring Fair Value Measurements — Certain assets, such as goodwill and trademarks, are not measured at fair value on an ongoing basis but are subject to fair value adjustments in certain circumstances, such as, when there is evidence of impairment. There were no fair value adjustments for non-financial assets or liabilities during the three months ended March 31, 2024. The carrying amount of long-term debt recorded in the Company’s accompanying condensed consolidated balance sheet at March 31, 2024 was $1.0 billion (see Note 3. Long-Term Debt ) and its fair value, determined using quoted prices in active markets for identical liabilities (Level 1 inputs), was slightly less than the carrying value.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Millions	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure
Net income	$ 38.1	$ 49.5

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Terminated	false

Goodwill and Identifiable Ass_2

Goodwill and Identifiable Assets (Tables)	3 Months Ended
Goodwill and Identifiable Assets (Tables)	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	Goodwill by reportable segment is as follows (in millions): Commercial Federal Government Total Balance at March 31, 2024 and December 31, 2023 $ 1,075.8 $ 818.3 $ 1,894.1
Schedule of Acquired Intangible Assets	Acquired identifiable intangible assets consisted of the following (in millions): March 31, 2024 December 31, 2023 Estimated Useful Life in Years Gross Carrying Amount Accumulated Amortization Net Carrying Amount Gross Carrying Amount Accumulated Amortization Net Carrying Amount Subject to amortization: Customer and contractual relationships 7 - 13 $ 496.0 $ 296.0 $ 200.0 $ 496.0 $ 282.0 $ 214.0 Non-compete agreements 2 - 7 29.3 19.3 10.0 29.3 18.2 11.1 525.3 315.3 210.0 525.3 300.2 225.1 Not subject to amortization: Trademarks 272.8 — 272.8 272.8 — 272.8 $ 798.1 $ 315.3 $ 482.8 $ 798.1 $ 300.2 $ 497.9
Schedule of Estimated Future Amortization Expense	Estimated future amortization expense is as follows (in millions): Remainder of 2024 $ 43.0 2025 48.8 2026 41.8 2027 32.0 2028 21.2 Thereafter 23.2 $ 210.0

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
Long-Term Debt (Tables)	Mar. 31, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following (in millions): March 31, December 31, Senior Secured Credit Facility: $500 million revolving credit facility, due 2028 $ — $ — Term loan B, due 2030 497.5 498.8 Unsecured Senior Notes, due 2028 550.0 550.0 1,047.5 1,048.8 Unamortized deferred loan costs (6.2) (7.2) Term loan B, principal payments due in the next 12 months (5.0) (5.0) Long-term debt $ 1,036.3 $ 1,036.6 __________ The Company is required to make quarterly minimum principal payments totaling $5.0 million annually on the term loan until its maturity date; this amount is included in other current liabilities on the accompanying condensed consolidated balance sheets. Taking into consideration the $5.0 million annual required principal payments, the balance due at maturity will be $466.3 million.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
Earnings Per Share (Tables)	Mar. 31, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	(in millions, except per share data). Three Months Ended March 31, 2024 2023 Net income $ 38.1 $ 49.5 Weighted-average number of common shares outstanding - basic 46.5 49.3 Dilutive effect of common share equivalents 0.4 0.5 Weighted-average number of common shares and share equivalents outstanding - diluted 46.9 49.8 Basic earnings per share $ 0.82 $ 1.00 Diluted earnings per share $ 0.81 $ 0.99

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
Segment Reporting (Tables)	Mar. 31, 2024
Segment Reporting Information [Line Items]
Schedule of Segment Reporting Information, by Segment	Three Months Ended March 31, 2024 2023 Commercial Revenues $ 731.5 $ 832.1 Gross profit 233.8 262.4 Operating income 68.8 83.9 Depreciation and other amortization 7.2 4.6 Amortization of intangible assets 7.7 8.8 Federal Government Revenues $ 317.5 $ 296.7 Gross profit 62.4 64.0 Operating income 23.0 22.6 Depreciation and other amortization 1.7 1.4 Amortization of intangible assets 7.4 9.3 Consolidated Revenues $ 1,049.0 $ 1,128.8 Gross profit 296.2 326.4 Operating income 70.9 84.2 Depreciation and other amortization 9.4 6.8 Amortization of intangible assets 15.1 18.1 _______ Depreciation and other amortization includes $1.3 million amortization related to capitalized cloud-based application implementation costs in the three months ended March 31, 2024. Consolidated operating income includes corporate operating expenses, which are not allocated to the segments. These include stock-based compensation expense, depreciation expense, compensation for corporate employees, acquisition, integration, and strategic planning expenses, and public company expenses.
Disaggregation of Revenue	Revenues by segment and by type are as follows (in millions): Three Months Ended March 31, 2024 2023 Commercial Assignment $ 454.5 $ 560.4 Consulting 277.0 271.7 731.5 832.1 Federal Government Firm-fixed-price 89.2 92.8 Time and materials 131.2 121.9 Cost reimbursable 97.1 82.0 317.5 296.7 Consolidated $ 1,049.0 $ 1,128.8
Revenue from External Customers by Products and Services	Federal Government Segment revenues by customer type are as follows (in millions): Three Months Ended March 31, 2024 2023 Department of Defense and Intelligence Agencies $ 150.1 $ 132.9 Federal Civilian 157.8 153.1 Other 9.6 10.7 $ 317.5 $ 296.7

Goodwill and Identifiable Ass_3

Goodwill and Identifiable Assets (Goodwill) (Details) $ in Millions	Mar. 31, 2024 USD ($)
Goodwill [Roll Forward]
Gross goodwill	$ 1,894.1
Commercial Business
Goodwill [Roll Forward]
Gross goodwill	1,075.8
Federal Government Business
Goodwill [Roll Forward]
Gross goodwill	$ 818.3

Goodwill and Identifiable Ass_4

Goodwill and Identifiable Assets (Acquired Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Intangible assets subject to amortization:
Other Finite-Lived Intangible Assets, Gross	$ 525.3	$ 525.3
Accumulated Amortization	315.3	300.2
Net Carrying Amount	210	225.1
Intangible assets not subject to amortization:
Trademarks, Carrying Amount	272.8	272.8
Intangible Assets, Gross (Excluding Goodwill)	798.1	798.1
Identifiable intangible assets, net	482.8	497.9
Customer and Contractual Relationships
Intangible assets subject to amortization:
Other Finite-Lived Intangible Assets, Gross	496	496
Accumulated Amortization	296	282
Net Carrying Amount	$ 200	214
Customer and Contractual Relationships \| Minimum [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years
Customer and Contractual Relationships \| Maximum [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	13 years
Backlog \| Minimum [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	2 years
Backlog \| Maximum [Member]
Intangible Assets [Line Items]
Finite-Lived Intangible Asset, Useful Life	7 years
Noncompete Agreements
Intangible assets subject to amortization:
Other Finite-Lived Intangible Assets, Gross	$ 29.3	29.3
Accumulated Amortization	19.3	18.2
Net Carrying Amount	$ 10	$ 11.1

Goodwill and Identifiable Ass_5

Goodwill and Identifiable Assets (Future Amortization Expense) (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Net Carrying Amount	$ 210	$ 225.1
Remainder of 2024	43
2025	48.8
2026	41.8
2027	32
2028	21.2
Thereafter	$ 23.2

Long-Term Debt - Schedule of De

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023	Aug. 31, 2023	Nov. 22, 2019
Debt Instrument [Line Items]
Long-Term Line of Credit	$ 0	$ 0
Senior Notes	550	550		$ 550
Long-term Debt, Gross	1,047.5	1,048.8
Unamortized Debt Issuance Expense	6.2	7.2
Long-Term Debt, Maturities, Repayments of Principal in Next Rolling 12 Months	(5)	(5)
Long-term debt	1,036.3	1,036.6
Principal due at maturity	466.3
Term B Loan Facility, due August 2030
Debt Instrument [Line Items]
Secured Debt	$ 497.5	$ 498.8	$ 497.5

Long-term Debt - Narrative (Det

Long-term Debt - Narrative (Details) $ in Millions	3 Months Ended
Long-term Debt - Narrative (Details) $ in Millions	Mar. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)	Aug. 31, 2023 USD ($)	Nov. 22, 2019 USD ($)
Debt Instrument [Line Items]
Debt Covenant, Maximum Senior Secured Debt to EBIDTA Ratio [Abstract]	3.75
leverage ratio	0.99
Senior Notes	$ 550	$ 550		$ 550
Long-Term Line of Credit	0	0
Senior Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage				4.625%
Term B Loan Facility, due August 2030
Debt Instrument [Line Items]
Secured Debt	$ 497.5	$ 498.8	$ 497.5
Debt Instrument, Fee	0.9 million
Debt Instrument, Fee	0.9 million
Term B Loan Facility, due August 2030 \| Bank base rate [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1%
Term B Loan Facility, due August 2030 \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1.75%
$500 Million Revolving Credit Facility, Due February 2028
Debt Instrument [Line Items]
Long-Term Line of Credit			$ 500
$500 Million Revolving Credit Facility, Due February 2028 \| Bank base rate [Member] \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	1%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.30%
$500 Million Revolving Credit Facility, Due February 2028 \| Bank base rate [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage	0.45%
$500 Million Revolving Credit Facility, Due February 2028 \| Secured Overnight Financing Rate (SOFR) \| Minimum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	2%
$500 Million Revolving Credit Facility, Due February 2028 \| Secured Overnight Financing Rate (SOFR) \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	3%
$500 Million Revolving Credit Facility, Due February 2028 \| Base Rate
Debt Instrument [Line Items]
Debt Instrument, Basis Spread on Variable Rate	0.10%

Calculation of Basic and Dilute

Calculation of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Calculation of Basic and Diluted Earnings per Share [Abstract]
Net income	$ 38.1	$ 49.5
Weighted-average number of common shares outstanding - basic	46.5	49.3
Dilutive effect of common share equivalents	0.4	0.5
Weighted-average number of common shares and share equivalents outstanding - diluted	46.9	49.8
Basic earnings per share	$ 0.82	$ 1
Diluted earnings per share	$ 0.81	$ 0.99

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	3 Months Ended
Segment Reporting - Narrative (Details)	Mar. 31, 2024 segment
Segment Reporting [Abstract]
Number of Operating Segments	2

Segment Reporting (Segment Repo

Segment Reporting (Segment Reporting Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Revenues	$ 1,049,000	$ 1,128,800
Gross Profit:
Total Gross Profit	296,200	326,400
Operating Income (Loss):
Total Operating Income	70,900	84,200
Depreciation	9,400	6,800
Amortization of intangible assets	15,100	18,100
Cloud Based Application
Operating Income (Loss):
Amortization of intangible assets	1,300
Commercial Business
Revenues:
Revenues	731,500	832,100
Gross Profit:
Total Gross Profit	233,800	262,400
Operating Income (Loss):
Total Operating Income	68,800	83,900
Depreciation	7,200	4,600
Amortization of intangible assets	7,700	8,800
Federal Government Business
Revenues:
Revenues	317,500	296,700
Gross Profit:
Total Gross Profit	62,400	64,000
Operating Income (Loss):
Total Operating Income	23,000	22,600
Depreciation	1,700	1,400
Amortization of intangible assets	7,400	9,300
Assignment \| Commercial Business
Revenues:
Revenues	454,500	560,400
Consulting \| Commercial Business
Revenues:
Revenues	277,000	271,700
Firm-fixed-price \| Federal Government Business
Revenues:
Revenues	89,200	92,800
Time and materials \| Federal Government Business
Revenues:
Revenues	131,200	121,900
Cost reimbursable \| Federal Government Business
Revenues:
Revenues	$ 97,100	$ 82,000

Segment Reporting Revenue by Cu

Segment Reporting Revenue by Customer Type (details) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenue from External Customer [Line Items]
Revenues	$ 1,049	$ 1,128.8
Department of Defense and Intelligence Agencies
Revenue from External Customer [Line Items]
Revenues	150.1	132.9
Federal Civilian
Revenue from External Customer [Line Items]
Revenues	157.8	153.1
Other
Revenue from External Customer [Line Items]
Revenues	$ 9.6	$ 10.7

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value Inputs, Liabilities, Quantitative Information) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023
Fair Value Inputs, Liabilities, Quantitative Information
Long-term Debt, Gross	$ 1,047.5	$ 1,048.8
Long-term debt	$ 1,036.3	$ 1,036.6
Fair Value, Inputs, Level 1
Fair Value Inputs, Liabilities, Quantitative Information
Fair value level 1 inputs	Level 1 inputs